# EDGAR Filing Document

**Accession Number:** 0001678124
**File Stem:** 0001049169-26-001104
**Filing Date:** 2026-5
**Character Count:** 1705713
**Document Hash:** a8c1e7ed2fb68ab92d42344c6b43b228
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-26-001104.hdr.sgml**: 20260522

**ACCESSION NUMBER**: 0001049169-26-001104

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260522

**DATE AS OF CHANGE**: 20260522

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CION Ares Diversified Credit Fund
- **CENTRAL INDEX KEY:** 0001678124

**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:** 811-23165
- **FILM NUMBER:** 261012093

**BUSINESS ADDRESS:**
- **STREET 1:** 100 PARK AVENUE
- **STREET 2:** 25TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-418-4700

**MAIL ADDRESS:**
- **STREET 1:** 100 PARK AVENUE
- **STREET 2:** 25TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Nport-Ex

CION Ares Diversified Credit Fund

**Consolidated Schedule of Investments** 

**March 31, 2026 (Unaudited)** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| **SENIOR LOANS(b)(c)(d)** | **SENIOR LOANS(b)(c)(d)** | | | | | | | | | | | |
| **Automobiles and Components** | **Automobiles and Components** | | | | | | | | | | | |
| Automotive Keys Group, LLC |  | 1st Lien Term Loan | 10.35% | SOFR (Q) | 6.50% |  | 08/2026 |  | $1644 | $1447 | (e)(f) |  |
| Churchill Opco Holdings LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2029 |  |  |  | (e)(g) |  |
| Churchill Opco Holdings LLC |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 11/2029 |  | 1188 | 1188 | (e)(f) |  |
| Churchill Opco Holdings LLC |  | 1st Lien Delay Draw Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 11/2029 |  | 2247 | 2247 | (e)(g) |  |
| Collision SP Subco, LLC |  | 1st Lien Revolving Loan | 8.42% | SOFR (Q) | 4.75% |  | 01/2030 |  | 13 | 12 | (e)(g) |  |
| Collision SP Subco, LLC |  | 1st Lien Term Loan | 8.43% | SOFR (Q) | 4.75% |  | 01/2030 |  | 914 | 914 | (e)(f) |  |
| Collision SP Subco, LLC |  | 1st Lien Delay Draw Term Loan | 8.43% | SOFR (Q) | 4.75% |  | 01/2030 |  | 583 | 583 | (e)(g) |  |
| Continental Acquisition Holdings, Inc. |  | 1st Lien Revolving Loan | 7.72% | SOFR (Q) | 3.75% |  | 01/2028 |  |  |  | (e)(g) |  |
| Continental Acquisition Holdings, Inc. |  | 1st Lien Term Loan |  |  |  |  | 07/2028 |  | 7171 | 3873 | (e)(i) |  |
| Continental Acquisition Holdings, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2028 |  | 1741 | 940 | (e)(i) |  |
| Highline Aftermarket Acquisition, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2028 |  |  |  | (e)(g) |  |
| Highline Aftermarket Acquisition, LLC |  | 1st Lien Term Loan | 7.17% | SOFR (Q) | 3.50% |  | 02/2030 |  | 15461 | 15422 | (e) |  |
| Sun Acquirer Corp. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2027 |  |  |  | (e)(g) |  |
| Sun Acquirer Corp. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 09/2028 |  | 14736 | 14589 | (e)(f) |  |
| Sun Acquirer Corp. |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (M) | 4.50% |  | 09/2028 |  | 15399 | 15245 | (e)(f)(g) |  |
| Sun Acquirer Corp. |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (M) | 4.50% |  | 09/2028 |  | 1627 | 1611 | (e)(f) |  |
| Telle Tire & Auto Service, LLC |  | 1st Lien Revolving Loan | 8.38% | SOFR (S) | 4.75% |  | 03/2031 |  | 48 | 47 | (e)(g) |  |
| Telle Tire & Auto Service, LLC |  | 1st Lien Term Loan | 8.40% | SOFR (S) | 4.75% |  | 03/2031 |  | 133 | 133 | (e)(f) |  |
| Telle Tire & Auto Service, LLC |  | 1st Lien Delay Draw Term Loan | 8.40% | SOFR (S) | 4.75% |  | 03/2031 |  | 927 | 927 | (e)(g) |  |
| Truck-Lite Co., LLC and Ecco Holdings Corp. |  | 1st Lien Revolving Loan |  |  |  |  | 02/2031 |  |  |  | (e)(g) |  |
| Truck-Lite Co., LLC and Ecco Holdings Corp. |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 02/2032 |  | 196 | 196 | (e)(f) |  |
| Truck-Lite Co., LLC and Ecco Holdings Corp. |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 02/2032 |  | 13212 | 13212 | (e)(f) |  |
| Truck-Lite Co., LLC and Ecco Holdings Corp. |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 02/2032 |  | 1033 | 1033 | (e)(g) |  |
| Wand Newco 3, Inc. |  | 1st Lien Term Loan | 6.17% | SOFR (M) | 2.50% |  | 01/2031 |  | 20024 | 19837 | (f) |  |
|  |  |  |  |  |  |  |  |  |  | 93456 |  | 1.89% |
| **Capital Goods** |  |  |  |  |  |  |  |  |  |  |  |  |
| AeriTek Global US Acquisition Inc. |  | 1st Lien Revolving Loan | 10.17% | SOFR (Q) | 6.50% |  | 08/2030 |  | 13 | 13 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| AeriTek Global US Acquisition Inc. |  | 1st Lien Term Loan | 10.17% | SOFR (Q) | 6.50% |  | 08/2030 |  |  | 733 | 733 | (e)(f) |  |
| Airx Climate Solutions, Inc. |  | 1st Lien Revolving Loan | 9.41% | SOFR (Q) | 5.75% |  | 11/2029 |  |  | 44 | 44 | (e)(g) |  |
| Airx Climate Solutions, Inc. |  | 1st Lien Term Loan | 9.42% | SOFR (Q) | 5.75% |  | 11/2029 |  |  | 1479 | 1479 | (e)(f) |  |
| Airx Climate Solutions, Inc. |  | 1st Lien Term Loan | 8.68% | SOFR (Q) | 5.00% |  | 11/2029 |  |  | 2396 | 2372 | (e)(f) |  |
| Airx Climate Solutions, Inc. |  | 1st Lien Delay Draw Term Loan | 8.68% | SOFR (Q) | 5.00% |  | 11/2029 |  |  | 870 | 862 | (e)(g) |  |
| Airx Climate Solutions, Inc. |  | 1st Lien Delay Draw Term Loan | 8.68% | SOFR (Q) | 5.00% |  | 11/2029 |  |  | 489 | 484 | (e)(f) |  |
| Align Precision Group, LLC |  | 1st Lien Term Loan | 10.42% PIK | SOFR (Q) | 6.75% |  | 07/2030 |  |  | 3031 | 3031 | (e) |  |
| Align Precision Group, LLC |  | 1st Lien Delay Draw Term Loan | 10.45% PIK | SOFR (Q) | 6.75% |  | 07/2030 |  |  | 566 | 567 | (e)(g) |  |
| AllClear Military Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 05/2030 |  |  |  |  | (e)(g) |  |
| AllClear Military Inc. |  | 1st Lien Term Loan | 9.40% | SOFR (Q) | 5.50% |  | 05/2030 |  |  | 807 | 807 | (e) |  |
| AllClear Military Inc. |  | 1st Lien Term Loan | 10.72% (2.00% PIK) | SOFR (S) | 6.75% |  | 05/2030 |  |  | 607 | 249 | (e) |  |
| AllClear Military Inc. |  | 1st Lien Delay Draw Term Loan | 9.49% | SOFR (S) | 5.50% |  | 05/2030 |  |  | 162 | 162 | (e)(g) |  |
| Artera Services, LLC |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 02/2031 |  |  | 6426 | 5462 | (f) |  |
| BCPE Empire Holdings, Inc. |  | 1st Lien Term Loan | 6.92% | SOFR (M) | 3.25% |  | 12/2030 |  |  | 2443 | 2403 |  |  |
| BCPE Empire Holdings, Inc. |  | 1st Lien Term Loan | 7.19% | SOFR (S) | 3.50% |  | 12/2032 |  |  | 5077 | 4992 |  |  |
| BGIF IV Fearless Utility Services, Inc. |  | 1st Lien Revolving Loan | 8.68% | SOFR (M) | 5.00% |  | 06/2030 |  |  | 59 | 59 | (e)(g) |  |
| BGIF IV Fearless Utility Services, Inc. |  | 1st Lien Term Loan | 8.68% | SOFR (M) | 5.00% |  | 06/2031 |  |  | 2204 | 2204 | (e)(f) |  |
| BGIF IV Fearless Utility Services, Inc. |  | 1st Lien Delay Draw Term Loan | 8.68% | SOFR (M) | 5.00% |  | 06/2031 |  |  | 645 | 646 | (e)(g) |  |
| Blue Raven Solutions, LLC |  | 1st Lien Revolving Loan | 9.66% | SOFR (Q) | 6.00% |  | 01/2032 |  |  | 212 | 207 | (e)(g) |  |
| Blue Raven Solutions, LLC |  | 1st Lien Term Loan | 9.70% | SOFR (Q) | 6.00% |  | 01/2032 |  |  | 2628 | 2576 | (e)(f) |  |
| Box Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.29% | EURIBOR (S) | 7.17% |  | 11/2028 |  | € | 878 | 1015 | (e)(f) |  |
| Box Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.84% | SOFR (S) | 5.50% |  | 11/2028 |  |  | 1691 | 1691 | (e)(f) |  |
| Box Bidco Limited | United Kingdom | 1st Lien Term Loan | 11.51% | SOFR (S) | 7.17% |  | 11/2028 |  |  | 536 | 536 | (e) |  |
| Burgess Point Purchaser Corporation |  | 1st Lien Term Loan | 9.02% | SOFR (Q) | 5.25% |  | 07/2029 |  |  | 4052 | 3515 | (f) |  |
| Burgess Point Purchaser Corporation |  | 1st Lien Term Loan | 9.67% | SOFR (Q) | 6.00% |  | 07/2029 |  |  | 2153 | 1873 | (e)(f) |  |
| Burgess Point Purchaser Corporation |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2029 |  |  |  |  | (e)(g) |  |
| CPIG Holdco Inc. |  | 1st Lien Revolving Loan | 8.51% | SOFR (Q) | 4.75% |  | 04/2028 |  |  | 1 | 1 | (e)(g) |  |
| CPIG Holdco Inc. |  | 1st Lien Term Loan | 10.76% | SOFR (Q) | 7.00% |  | 04/2028 |  |  | 3776 | 3776 | (e)(f) |  |
| ELM DebtCo, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2031 |  |  |  |  | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| ELM DebtCo, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 11/2031 |  |  | 387 | 383 | (e)(f) |  |
| ELM DebtCo, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 11/2031 |  |  |  |  | (e)(g) |  |
| Endurance PT Technology Buyer Corporation |  | 1st Lien Revolving Loan | 10.20% | SOFR (Q) | 6.50% |  | 10/2031 |  |  | 20 | 20 | (e)(g) |  |
| Endurance PT Technology Buyer Corporation |  | 1st Lien Term Loan | 10.20% | SOFR (Q) | 6.50% |  | 10/2031 |  |  | 554 | 551 | (e)(f) |  |
| Generator Buyer, Inc. | Canada | 1st Lien Revolving Loan |  |  |  |  | 07/2030 |  | CAD |  |  | (e)(g) |  |
| Generator Buyer, Inc. | Canada | 1st Lien Term Loan | 6.81% | CORRA (Q) | 4.50% |  | 07/2030 |  | CAD | 2010 | 1445 | (e)(f) |  |
| Generator Buyer, Inc. | Canada | 1st Lien Delay Draw Term Loan | 6.81% | CORRA (Q) | 4.50% |  | 07/2030 |  | CAD | 363 | 261 | (e)(g) |  |
| GENERATOR US BUYER, INC. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 07/2030 |  |  | 405 | 405 | (e)(f) |  |
| GENERATOR US BUYER, INC. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2030 |  |  |  |  | (e)(g) |  |
| GSV Purchaser, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2030 |  |  |  |  | (e)(g) |  |
| GSV Purchaser, Inc. |  | 1st Lien Term Loan | 8.15% | SOFR (Q) | 4.50% |  | 08/2031 |  |  | 3653 | 3653 | (e)(f) |  |
| GSV Purchaser, Inc. |  | 1st Lien Delay Draw Term Loan | 8.15% | SOFR (Q) | 4.50% |  | 08/2031 |  |  | 609 | 609 | (e)(g) |  |
| Harvey Tool Company, LLC |  | 1st Lien Term Loan | 6.64% | EURIBOR (B) | 4.75% |  | 08/2032 |  | € | 276 | 318 | (e)(f) |  |
| Helix Acquisition Holdings, Inc. |  | 1st Lien Term Loan | 10.77% | SOFR (M) | 7.00% |  | 03/2030 |  |  | 473 | 473 | (e) |  |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC) |  | 1st Lien Revolving Loan | 8.45% | SOFR (Q) | 4.75% |  | 03/2032 |  |  | 422 | 422 | (e)(g) |  |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC) |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 03/2032 |  |  | 8193 | 8193 | (e)(f) |  |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC) |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 03/2032 |  |  | 1025 | 1025 | (e)(g) |  |
| JSG II, Inc. and Checkers USA, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2032 |  |  |  |  | (e)(g) |  |
| JSG II, Inc. and Checkers USA, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 09/2032 |  |  | 178 | 177 | (e)(f) |  |
| JSG II, Inc. and Checkers USA, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2032 |  |  |  |  | (e)(g) |  |
| LBM Acquisition LLC |  | 1st Lien Term Loan | 7.52% | SOFR (M) | 3.75% |  | 06/2031 |  |  | 6458 | 5150 | (f) |  |
| LEG Purchaser Inc | Canada | 1st Lien Revolving Loan |  |  |  |  | 01/2032 |  |  |  |  | (e)(g) |  |
| LEG Purchaser Inc | Canada | 1st Lien Term Loan | 9.15% | SOFR (Q) | 5.50% |  | 01/2032 |  |  | 957 | 943 | (e)(f) |  |
| Livewire Acquisition, Inc. |  | 1st Lien Revolving Loan | 7.94% | SOFR (Q) | 4.25% |  | 12/2032 |  |  | 407 | 403 | (e)(g) |  |
| Livewire Acquisition, Inc. |  | 1st Lien Term Loan | 7.95% | SOFR (Q) | 4.25% |  | 12/2032 |  |  | 1601 | 1586 | (e)(f) |  |
| Livewire Acquisition, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  |  | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Madison IAQ LLC |  | 1st Lien Term Loan | 6.13% | SOFR (S) | 2.50% |  | 06/2028 |  | 12720 | 12706 |  |  |
| MWG BidCo ApS | Denmark | 1st Lien Term Loan | 9.20% | CIBOR (S) | 7.00% |  | 02/2028 |  | 20066 | 3042 | (e) |  |
| MWG BidCo ApS | Denmark | 1st Lien Delay Draw Term Loan | 9.12% | EURIBOR (S) | 7.00% |  | 02/2028 |  | 4934 | 748 | (e) |  |
| MWG BidCo ApS | Denmark | 1st Lien Delay Draw Term Loan | 9.03% | CIBOR (Q) | 7.00% |  | 02/2028 |  | 1712 | 259 | (e) |  |
| Osmose Utilities Services, Inc. |  | 1st Lien Term Loan | 7.03% | SOFR (M) | 3.25% |  | 06/2028 |  | 1132 | 1110 |  |  |
| Osmose Utilities Services, Inc. |  | 2nd Lien Term Loan | 10.53% | SOFR (M) | 6.75% |  | 06/2029 |  | 8237 | 8155 | (e) |  |
| Osmosis Buyer Limited |  | 1st Lien Term Loan | 6.41% | SOFR (M) | 2.75% |  | 07/2028 |  | 31332 | 31239 | (f) |  |
| Paris US Holdco, Inc. & 1001028292 Ontario Inc. |  | 1st Lien Revolving Loan | 8.42% | SOFR (M) | 4.75% |  | 12/2031 |  | 81 | 81 | (e)(g) |  |
| Paris US Holdco, Inc. & 1001028292 Ontario Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 12/2031 |  | 5814 | 5814 | (e)(f) |  |
| Paris US Holdco, Inc. & 1001028292 Ontario Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2031 |  |  |  | (e)(g) |  |
| Patriot Container Corp. |  | 1st Lien Term Loan | 13.00% (7.00% PIK) |  |  |  | 09/2030 |  | 27402 | 27402 | (e) |  |
| Patriot Container Corp. |  | 1st Lien Delay Draw Term Loan | 13.00% (7.00% PIK) |  |  |  | 09/2030 |  | 387 | 387 | (e) |  |
| Pave America Holding, LLC |  | 1st Lien Revolving Loan | 8.45% | SOFR (M) | 4.75% |  | 08/2032 |  | 44 | 44 | (e)(g) |  |
| Pave America Holding, LLC |  | 1st Lien Term Loan | 8.95% (2.88% PIK) | SOFR (Q) | 5.25% |  | 08/2032 |  | 414 | 414 | (e)(f) |  |
| Pave America Holding, LLC |  | 1st Lien Delay Draw Term Loan | 2.88% PIK | SOFR (Q) | 5.25% |  | 08/2032 |  | 42 | 42 | (e)(g) |  |
| Pike Corporation |  | 1st Lien Revolving Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Pike Corporation |  | 1st Lien Term Loan | 8.18% | SOFR (M) | 4.50% |  | 12/2032 |  | 63285 | 62653 | (e)(f) |  |
| Pike Corporation |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Project Castle, Inc. |  | 1st Lien Term Loan | 9.36% | SOFR (S) | 5.50% |  | 06/2029 |  | 8656 | 4616 |  |  |
| PumpTech, LLC |  | 1st Lien Revolving Loan | 8.42% | SOFR (M) | 4.75% |  | 01/2031 |  | 91 | 87 | (e)(g) |  |
| PumpTech, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 01/2031 |  | 2017 | 1937 | (e)(f) |  |
| PumpTech, LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 01/2031 |  | 1067 | 1025 | (e)(g) |  |
| Radius Aerospace Europe Limited | United Kingdom | 1st Lien Revolving Loan | 9.73% (0.25% PIK) | SONIA (M) | 6.00% |  | 03/2027 |  | £373 | 493 | (e)(g) |  |
| Radius Aerospace Europe Limited | United Kingdom | 1st Lien Term Loan | 9.85% (0.25% PIK) | SOFR (Q) | 6.00% |  | 03/2027 |  | 4070 | 4070 | (e)(f) |  |
| Radius Aerospace, Inc. |  | 1st Lien Revolving Loan | 9.82% (0.25% PIK) | SOFR (S) | 6.00% |  | 03/2027 |  | 259 | 259 | (e)(g) |  |
| Radius Aerospace, Inc. |  | 1st Lien Term Loan | 9.85% (0.25% PIK) | SOFR (Q) | 6.00% |  | 03/2027 |  | 4669 | 4669 | (e)(f) |  |
| Radwell Parent, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2029 |  | 15 | 15 | (e)(g)(h) |  |
| Radwell Parent, LLC |  | 1st Lien Term Loan |  |  |  |  | 04/2029 |  | 1848 | 1848 | (e)(f)(h) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Radwell Parent, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 04/2029 |  | 180 | 180 | (e)(h) |  |
| Sigma Electric Manufacturing Corporation |  | 1st Lien Revolving Loan | 9.52% | SOFR (M) | 5.75% |  | 12/2027 |  | 61 | 61 | (e)(g) |  |
| Sigma Electric Manufacturing Corporation |  | 1st Lien Term Loan | 9.52% | SOFR (M) | 5.75% |  | 12/2027 |  | 2710 | 2710 | (e)(f) |  |
| Sigma Electric Manufacturing Corporation |  | 1st Lien Delay Draw Term Loan | 9.52% | SOFR (M) | 5.75% |  | 12/2027 |  | 31 | 31 | (e)(g) |  |
| Sunk Rock Foundry Partners LP |  | 1st Lien Term Loan | 9.52% | SOFR (M) | 5.75% |  | 12/2027 |  | 215 | 215 | (e)(f) |  |
| Sunvair Aerospace Group, Inc. |  | 1st Lien Revolving Loan | 8.67% | SOFR (Q) | 5.00% |  | 05/2031 |  | 87 | 87 | (e)(g) |  |
| Sunvair Aerospace Group, Inc. |  | 1st Lien Term Loan | 8.69% | SOFR (Q) | 5.00% |  | 05/2031 |  | 1747 | 1746 | (e)(f) |  |
| Sunvair Aerospace Group, Inc. |  | 1st Lien Delay Draw Term Loan | 8.69% | SOFR (Q) | 5.00% |  | 05/2031 |  | 691 | 691 | (e)(g) |  |
| Titan BW Borrower L.P. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2032 |  |  |  | (e)(g) |  |
| Titan BW Borrower L.P. |  | 1st Lien Term Loan | 9.04% (2.88% PIK) | SOFR (Q) | 5.38% |  | 07/2032 |  | 30174 | 29872 | (e)(f) |  |
| Titan BW Borrower L.P. |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 07/2032 |  | 1508 | 1493 | (e)(g) |  |
| Two Six Labs, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2027 |  |  |  | (e)(g) |  |
| Two Six Labs, LLC |  | 1st Lien Term Loan | 8.95% | SOFR (Q) | 5.25% |  | 08/2027 |  | 7853 | 7853 | (e)(f) |  |
| Two Six Labs, LLC |  | 1st Lien Term Loan | 9.70% | SOFR (Q) | 6.00% |  | 08/2027 |  | 1308 | 1308 | (e)(f) |  |
| Two Six Labs, LLC |  | 1st Lien Delay Draw Term Loan | 8.95% | SOFR (Q) | 5.25% |  | 08/2027 |  | 6548 | 6548 | (e)(f) |  |
| WEC US Holdings Inc. |  | 1st Lien Term Loan | 5.67% | SOFR (M) | 2.00% |  | 01/2031 |  | 19542 | 19499 | (f) |  |
| Werner FinCo LP |  | 1st Lien Term Loan | 9.17% | SOFR (Q) | 5.50% |  | 06/2031 |  | 38715 | 38715 | (e)(f) |  |
| Zenith Acquisitionco, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 01/2033 |  |  |  | (e)(g) |  |
| Zenith Acquisitionco, LLC |  | 1st Lien Term Loan | 8.15% | SOFR (Q) | 4.50% |  | 01/2033 |  | 1340 | 1327 | (e)(f) |  |
| Zenith Acquisitionco, LLC |  | 1st Lien Delay Draw Term Loan | 8.15% | SOFR (Q) | 4.50% |  | 01/2033 |  | 32 | 31 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 353258 |  | 7.15% |
| **Commercial and Professional Services** | **Commercial and Professional Services** | **Commercial and Professional Services** |  |  |  |  |  |  |  |  |  |  |
| Accommodations Plus Technologies LLC |  | 1st Lien Revolving Loan |  |  |  |  | 05/2032 |  |  |  | (e)(g) |  |
| Accommodations Plus Technologies LLC |  | 1st Lien Term Loan | 8.94% | SOFR (Q) | 5.25% |  | 05/2032 |  | 2125 | 2125 | (e)(f) |  |
| Aldinger Company |  | 1st Lien Revolving Loan | 8.45% | SOFR (Q) | 4.75% |  | 10/2030 |  | 61 | 61 | (e)(g) |  |
| Aldinger Company |  | 1st Lien Term Loan | 8.43% | SOFR (Q) | 4.75% |  | 10/2030 |  | 1086 | 1086 | (e)(f) |  |
| Aldinger Company |  | 1st Lien Delay Draw Term Loan | 8.43% | SOFR (Q) | 4.75% |  | 10/2030 |  | 1138 | 1138 | (e) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Aldinger Company |  | 1st Lien Delay Draw Term Loan | 8.44% | SOFR (Q) | 4.75% |  | 10/2030 |  | 227 | 227 | (e)(g) |  |
| AMCP Clean Acquisition Company, LLC |  | 1st Lien Delay Draw Term Loan | 7.95% | SOFR (Q) | 4.25% |  | 06/2030 |  | 526 | 526 | (e) |  |
| Andwis Group Limited | United Kingdom | 1st Lien Term Loan | 10.53% | SONIA (S) | 6.75% |  | 11/2031 |  | £2074 | 2745 | (e) |  |
| Andwis Group Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.73% | SONIA (S) | 7.00% |  | 11/2031 |  | £1274 | 1686 | (e) |  |
| Andwis Group Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.53% | SONIA (S) | 6.75% |  | 11/2031 |  | £2831 | 3748 | (e)(g)(h) |  |
| Antea Group Holding B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 8.38% | EURIBOR (Q) | 6.25% |  | 03/2030 |  | 1250 | 1445 | (e)(g) |  |
| Antenore Bidco SpA | Italy | 1st Lien Delay Draw Term Loan |  |  |  |  | 11/2031 |  |  |  | (e)(g) |  |
| Armorica Lux S.a.r.l. | Luxembourg | 1st Lien Term Loan | 6.95% | EURIBOR (Q) | 4.93% |  | 07/2028 |  | 6500 | 7201 |  |  |
| Auxadi Midco S.L.U. | Spain | 1st Lien Term Loan | 6.78% | EURIBOR (Q) | 4.75% |  | 07/2028 |  | 473 | 546 | (e) |  |
| Bluejack Fire Acquisition, Inc. |  | 1st Lien Revolving Loan | 8.43% | SOFR (M) | 4.75% |  | 01/2031 |  | 106 | 106 | (e)(g) |  |
| Bluejack Fire Acquisition, Inc. |  | 1st Lien Term Loan | 8.43% | SOFR (M) | 4.75% |  | 01/2031 |  | 982 | 982 | (e)(f) |  |
| Bluejack Fire Acquisition, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2031 |  |  |  | (e)(g) |  |
| Bobtail AcquisitionCo, LLC |  | 1st Lien Revolving Loan | 8.44% | SOFR (Q) | 4.75% |  | 09/2031 |  | 35 | 35 | (e)(g) |  |
| Bobtail AcquisitionCo, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 09/2031 |  | 1096 | 1096 | (e)(f) |  |
| Bobtail AcquisitionCo, LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 09/2031 |  | 196 | 196 | (e)(g) |  |
| Capstone Acquisition Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 05/2029 |  |  |  | (e)(g) |  |
| Capstone Acquisition Holdings, Inc. |  | 1st Lien Term Loan | 8.27% | SOFR (M) | 4.50% |  | 11/2029 |  | 17828 | 17828 | (e)(f) |  |
| Capstone Acquisition Holdings, Inc. |  | 1st Lien Delay Draw Term Loan | 8.27% | SOFR (M) | 4.50% |  | 11/2029 |  | 516 | 516 | (e) |  |
| Capstone Acquisition Holdings, Inc. |  | 2nd Lien Term Loan | 12.27% | SOFR (M) | 8.50% |  | 11/2030 |  | 9246 | 9246 | (e)(f) |  |
| Capstone Acquisition Holdings, Inc. |  | 2nd Lien Delay Draw Term Loan | 12.27% | SOFR (M) | 8.50% |  | 11/2030 |  | 1668 | 1668 | (e) |  |
| Cards-Live Oak Holdings, Inc. |  | 1st Lien Revolving Loan | 10.50% | PRIME (Q) | 3.75% |  | 10/2032 |  | 1001 | 991 | (e)(g) |  |
| Cards-Live Oak Holdings, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 10/2032 |  | 12022 | 11902 | (e)(f) |  |
| Cards-Live Oak Holdings, Inc. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 10/2032 |  | 1722 | 1710 | (e)(g) |  |
| Celnor Group Limited | United Kingdom | 1st Lien Term Loan | 9.65% | SONIA (Q) | 5.92% |  | 08/2031 |  | £879 | 1164 | (e) |  |
| Celnor Group Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 9.65% | SONIA (Q) | 5.92% |  | 08/2031 |  | £3667 | 4853 | (e) |  |
| Celnor Group Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 9.29% | SONIA (Q) | 5.54% |  | 08/2031 |  | £2472 | 3271 | (e)(g) |  |
| Chillaton Bidco Limited | United Kingdom | 1st Lien Term Loan | 10.32% | SONIA (S) | 6.50% |  | 05/2031 |  | £1491 | 1973 | (e) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Chillaton Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.32% | SONIA (S) | 6.50% |  | 05/2031 |  | £1562 | 2067 | (e) |  |
| Compass Bidco Limited. | United Kingdom | 1st Lien Term Loan | 10.50% (6.50% PIK) | SONIA (S) | 6.75% |  | 04/2031 |  | £12356 | 16355 | (e) |  |
| Compass Bidco Limited. | United Kingdom | 1st Lien Delay Draw Term Loan | 10.58% (6.50% PIK) | SONIA (S) | 6.75% |  | 04/2031 |  | £5747 | 7607 | (e) |  |
| CR Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 9.48% | SONIA (Q) | 5.75% |  | 11/2032 |  | £390 | 516 | (e)(g) |  |
| Dayforce, Inc. |  | 1st Lien Term Loan | 6.66% | SOFR (Q) | 3.00% |  | 02/2033 |  | 11765 | 11114 |  |  |
| Denali Intermediate Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2032 |  |  |  | (e)(g) |  |
| Denali Intermediate Holdings, Inc. |  | 1st Lien Term Loan | 9.18% | SOFR (M) | 5.50% |  | 08/2032 |  | 67625 | 67625 | (e)(f) |  |
| Divisions Holding Corporation |  | 1st Lien Revolving Loan |  |  |  |  | 04/2032 |  |  |  | (e)(g) |  |
| Divisions Holding Corporation |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 04/2032 |  | 1388 | 1388 | (e)(f) |  |
| Dorado Bidco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2031 |  |  |  | (e)(g) |  |
| Dorado Bidco, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (Q) | 4.50% |  | 09/2031 |  | 3053 | 3053 | (e)(f) |  |
| Dorado Bidco, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2031 |  |  |  | (e)(g) |  |
| DP Flores Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 09/2030 |  |  |  | (e)(g) |  |
| DP Flores Holdings, LLC |  | 1st Lien Term Loan | 10.17% (3.25% PIK) | SOFR (M) | 6.50% |  | 09/2030 |  | 4006 | 3966 | (e)(f) |  |
| DP Flores Holdings, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2030 |  |  |  | (e)(g) |  |
| Drogon Bidco Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2030 |  |  |  | (e)(g) |  |
| Drogon Bidco Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 08/2031 |  | 1354 | 1355 | (e)(f) |  |
| Drogon Bidco Inc. |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 08/2031 |  | 1171 | 1171 | (e)(g) |  |
| DuraServ LLC |  | 1st Lien Revolving Loan | 8.42% | SOFR (M) | 4.75% |  | 06/2030 |  | 82 | 81 | (e)(g) |  |
| DuraServ LLC |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 06/2031 |  | 585 | 579 | (e)(f) |  |
| DuraServ LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 06/2031 |  | 351 | 347 | (e)(g) |  |
| EC Partners Spanish Bidco, S.L.U. | Spain | 1st Lien Term Loan | 7.78% | EURIBOR (Q) | 5.75% |  | 01/2032 |  | 430 | 497 | (e) |  |
| EC Partners Spanish Bidco, S.L.U. | Spain | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2032 |  |  |  | (e)(g) |  |
| Elevation Services Parent Holdings, LLC |  | 1st Lien Revolving Loan | 10.32% | SOFR (Q) | 6.50% |  | 12/2028 |  | 454 | 454 | (e)(g) |  |
| Elevation Services Parent Holdings, LLC |  | 1st Lien Term Loan | 10.31% | SOFR (Q) | 6.50% |  | 12/2028 |  | 1889 | 1890 | (e)(f) |  |
| Elevation Services Parent Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 10.31% | SOFR (Q) | 6.50% |  | 12/2028 |  | 2076 | 2076 | (e)(f) |  |
| Elliott Davis Advisory, LLC |  | 1st Lien Revolving Loan | 8.35% | SOFR (S) | 4.75% |  | 07/2031 |  | 84 | 84 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Elliott Davis Advisory, LLC |  | 1st Lien Term Loan | 8.33% | SOFR (S) | 4.75% |  | 07/2031 |  |  | 1232 | 1231 | (e)(f) |  |
| Elliott Davis Advisory, LLC |  | 1st Lien Delay Draw Term Loan | 8.33% | SOFR (S) | 4.75% |  | 07/2031 |  |  | 33 | 33 | (e)(g) |  |
| EMB Purchaser, Inc. |  | 1st Lien Revolving Loan | 8.17% | SOFR (Q) | 4.50% |  | 03/2032 |  |  | 2280 | 2257 | (e)(g) |  |
| EMB Purchaser, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 03/2032 |  |  | 42428 | 42004 | (e)(f) |  |
| EMB Purchaser, Inc. |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 03/2032 |  |  | 19023 | 18833 | (e)(g) |  |
| Erasmus Acquisition Holding B.V. | Netherlands | 1st Lien Term Loan | 7.50% (2.00% PIK) | EURIBOR (S) | 5.38% |  | 03/2030 |  | € | 3323 | 3841 | (e) |  |
| Erasmus Acquisition Holding B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 7.50% (2.00% PIK) | EURIBOR (S) | 5.38% |  | 03/2030 |  | € | 1187 | 1372 | (e) |  |
| Erasmus Acquisition Holding B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 7.75% | EURIBOR (S) | 5.63% |  | 03/2030 |  | € | 103 | 119 | (e)(g) |  |
| Firebird Acquisition Corp, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 02/2032 |  |  |  |  | (e)(g) |  |
| Firebird Acquisition Corp, Inc. |  | 1st Lien Term Loan | 8.67% (2.75% PIK) | SOFR (Q) | 5.00% |  | 02/2032 |  |  | 2783 | 2783 | (e)(f) |  |
| Firebird Acquisition Corp, Inc. |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (Q) | 4.50% |  | 02/2032 |  |  | 840 | 840 | (e)(g) |  |
| Flywheel Acquireco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 05/2028 |  |  |  |  | (e)(g) |  |
| Flywheel Acquireco, Inc. |  | 1st Lien Term Loan | 10.17% | SOFR (M) | 6.50% |  | 05/2030 |  |  | 13472 | 13472 | (e)(f) |  |
| Frontline Road Safety Operations, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2032 |  |  |  |  | (e)(g) |  |
| Frontline Road Safety Operations, LLC |  | 1st Lien Term Loan | 8.67% (2.00% PIK) | SOFR (M) | 5.00% |  | 03/2032 |  |  | 26604 | 26338 | (e)(f) |  |
| Frontline Road Safety Operations, LLC |  | 1st Lien Delay Draw Term Loan | 8.67% (2.00% PIK) | SOFR (M) | 5.00% |  | 03/2032 |  |  | 7716 | 7639 | (e)(g) |  |
| G702 Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2031 |  |  |  |  | (e)(g) |  |
| G702 Buyer, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 07/2031 |  |  | 383 | 383 | (e)(f) |  |
| GCM HVAC HOLDCO, LLC |  | 1st Lien Term Loan | 14.00% PIK |  |  |  | 09/2031 |  |  | 1675 | 1675 | (e) |  |
| HH-Stella, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 04/2027 |  |  |  |  | (e)(g) |  |
| HH-Stella, Inc. |  | 1st Lien Term Loan | 9.85% | SOFR (Q) | 6.00% |  | 04/2028 |  |  | 5891 | 5891 | (e)(f) |  |
| HH-Stella, Inc. |  | 1st Lien Term Loan | 9.85% | SOFR (Q) | 6.00% |  | 04/2028 |  |  | 960 | 960 | (e) |  |
| HH-Stella, Inc. |  | 1st Lien Delay Draw Term Loan | 9.85% | SOFR (Q) | 6.00% |  | 04/2028 |  |  | 4493 | 4493 | (e)(f) |  |
| HH-Stella, Inc. |  | 1st Lien Delay Draw Term Loan | 9.85% | SOFR (Q) | 6.00% |  | 04/2028 |  |  | 429 | 429 | (e)(g) |  |
| HP RSS Buyer, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 12/2029 |  |  | 1314 | 1314 | (e)(f) |  |
| HP RSS Buyer, Inc. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 12/2029 |  |  | 1066 | 1066 | (e)(f) |  |
| HP RSS Buyer, Inc. |  | 1st Lien Delay Draw Term Loan | 8.44% | SOFR (Q) | 4.75% |  | 12/2029 |  |  | 1164 | 1164 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Indigo Acquisition B.V. | Netherlands | 1st Lien Term Loan | 9.97% (2.45% PIK) | EURIBOR (S) | 7.47% |  | 09/2031 |  | € | 1285 | 1485 | (e) |  |
| Indigo Acquisition B.V. | Netherlands | 1st Lien Term Loan | 11.21% (2.45% PIK) | SOFR (S) | 7.47% |  | 09/2031 |  | € | 1285 | 1485 | (e) |  |
| Indigo Acquisition B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 9.97% (2.45% PIK) | EURIBOR (S) | 7.47% |  | 09/2031 |  | € | 696 | 805 | (e) |  |
| Intero Integrity Services Group B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 9.97% (3.25% PIK) | EURIBOR (S) | 7.47% |  | 09/2031 |  | € | 94 | 109 | (e)(g) |  |
| IRI Group Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 12/2028 |  |  |  |  | (e)(g) |  |
| IRI Group Holdings, Inc. |  | 1st Lien Term Loan | 7.95% | SOFR (Q) | 4.25% |  | 12/2029 |  |  | 25699 | 25699 | (e)(f) |  |
| Jones Fish Hatcheries & Distributors, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2032 |  |  |  |  | (e)(g) |  |
| Jones Fish Hatcheries & Distributors, LLC |  | 1st Lien Term Loan | 7.90% | SOFR (Q) | 4.25% |  | 11/2032 |  |  | 939 | 929 | (e)(f) |  |
| Jones Fish Hatcheries & Distributors, LLC |  | 1st Lien Delay Draw Term Loan |  | SOFR (M) | 4.25% |  | 11/2032 |  |  | 14 | 14 | (e)(g) |  |
| Kellermeyer Bergensons Services, LLC |  | 1st Lien Term Loan |  |  |  |  | 11/2028 |  |  | 3604 | 180 | (e)(i) |  |
| Kellermeyer Bergensons Services, LLC |  | 1st Lien Term Loan | 9.07% PIK | SOFR (Q) | 5.25% |  | 11/2028 |  |  | 7735 | 7735 | (e) |  |
| Kings Buyer, LLC |  | 1st Lien Revolving Loan | 11.00% | PRIME (Q) | 4.25% |  | 10/2027 |  |  | 132 | 123 | (e)(g) |  |
| Kings Buyer, LLC |  | 1st Lien Term Loan | 9.05% | SOFR (Q) | 5.25% |  | 10/2027 |  |  | 3359 | 3124 | (e)(f) |  |
| KPS Global LLC |  | 1st Lien Revolving Loan |  |  |  |  | 09/2030 |  |  |  |  | (e)(g) |  |
| KPS Global LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 09/2030 |  |  | 2058 | 2058 | (e)(f) |  |
| LABL, Inc. |  | 1st Lien Term Loan |  |  |  |  | 10/2028 |  |  | 19498 | 10139 | (e)(f)(i) |  |
| Laboratories Bidco LLC |  | 1st Lien Revolving Loan | 7.50% | PRIME (Q) | 0.75% |  | 07/2029 |  |  | 1613 | 1242 | (e)(g) |  |
| Laboratories Bidco LLC |  | 1st Lien Term Loan | 5.60% | SOFR (Q) | 1.75% |  | 07/2029 |  |  | 9701 | 7470 | (e) |  |
| Laboratories Bidco LLC |  | 1st Lien Term Loan | 4.08% | CORRA (Q) | 1.75% |  | 07/2029 |  | CAD | 1863 | 1031 | (e) |  |
| Laboratories Bidco LLC |  | 1st Lien Term Loan | 5.60% (4.00% PIK) | SOFR (Q) | 1.75% |  | 07/2029 |  |  | 610 | 470 | (e) |  |
| Laboratories Bidco LLC |  | 1st Lien Delay Draw Term Loan | 5.60% | SOFR (Q) | 1.75% |  | 07/2029 |  |  | 306 | 235 | (e) |  |
| LBC Woodlands Purchaser LLC |  | 1st Lien Revolving Loan | 8.67% | SOFR (Q) | 5.00% |  | 07/2030 |  |  | 49 | 47 | (e)(g) |  |
| LBC Woodlands Purchaser LLC |  | 1st Lien Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 07/2031 |  |  | 1295 | 1256 | (e)(f) |  |
| LBC Woodlands Purchaser LLC |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 07/2031 |  |  | 92 | 90 | (e)(g) |  |
| Lightbeam Bidco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 05/2029 |  |  |  |  | (e)(g) |  |
| Lightbeam Bidco, Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 05/2030 |  |  | 1238 | 1237 | (e)(f) |  |
| Lightbeam Bidco, Inc. |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 05/2030 |  |  | 168 | 168 | (e)(f) |  |
| Lightbeam Bidco, Inc. |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 05/2030 |  |  | 259 | 259 | (e) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Lightbeam Bidco, Inc. |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 05/2030 |  |  | 649 | 649 | (e)(g) |  |
| Movares Group B.V. | Netherlands | 1st Lien Term Loan | 7.76% | EURIBOR (Q) | 5.63% |  | 07/2032 |  | € | 1364 | 1576 | (e) |  |
| Movares Group B.V. | Netherlands | 1st Lien Delay Draw Term Loan |  | EURIBOR (Q) | 5.50% |  | 07/2032 |  | € | 22 | 26 | (e)(g) |  |
| Msis Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 03/2031 |  |  |  |  | (e)(g) |  |
| Msis Holdings, Inc. |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 03/2031 |  |  | 3543 | 3543 | (e)(f) |  |
| Msis Holdings, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 03/2031 |  |  |  |  | (e)(g) |  |
| Multi-Color Corporation |  | 1st Lien Delay Draw Term Loan | 10.41% | SOFR (M) | 6.75% |  | 12/2026 |  |  | 1551 | 1547 | (f) |  |
| Multi-Color Corporation |  | 1st Lien Delay Draw Term Loan | 10.42% | SOFR (S) | 6.75% |  | 12/2026 |  |  | 1959 | 1626 | (e)(f) |  |
| Neptune BidCo US Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 10/2027 |  |  |  |  | (e)(g) |  |
| Neptune BidCo US Inc. |  | 1st Lien Term Loan | 8.76% | SOFR (Q) | 5.00% |  | 02/2033 |  |  | 52262 | 49805 |  |  |
| PHM Group Holding Oyj | Finland | 1st Lien Term Loan | 5.53% | EURIBOR (Q) | 3.50% |  | 04/2032 |  | € | 6217 | 7092 |  |  |
| Priority Waste Holdings LLC |  | 1st Lien Revolving Loan | 11.25% | PRIME (Q) | 4.50% |  | 08/2029 |  |  | 2 | 2 | (e)(g) |  |
| Priority Waste Holdings LLC |  | 1st Lien Term Loan | 11.66% | SOFR (Q) | 8.00% |  | 08/2029 |  |  | 5254 | 4833 | (e)(f) |  |
| Priority Waste Holdings LLC |  | 1st Lien Term Loan | 14.66% PIK | SOFR (M) | 11.00% |  | 08/2029 |  |  | 404 | 363 | (e) |  |
| Priority Waste Holdings LLC |  | 1st Lien Delay Draw Term Loan | 11.66% | SOFR (Q) | 8.00% |  | 08/2029 |  |  | 2016 | 1855 | (e)(f) |  |
| Priority Waste Holdings LLC |  | 1st Lien Delay Draw Term Loan | 14.66% PIK | SOFR (Q) | 11.00% |  | 08/2029 |  |  | 100 | 90 | (e) |  |
| PSC Parent, Inc. |  | 1st Lien Revolving Loan | 8.92% | SOFR (Q) | 5.25% |  | 04/2030 |  |  | 563 | 563 | (e)(g) |  |
| PSC Parent, Inc. |  | 1st Lien Term Loan | 8.91% | SOFR (Q) | 5.25% |  | 04/2031 |  |  | 4371 | 4371 | (e)(f) |  |
| PSC Parent, Inc. |  | 1st Lien Delay Draw Term Loan | 8.91% | SOFR (M) | 5.25% |  | 04/2031 |  |  | 1777 | 1777 | (e) |  |
| Pye-Barker Fire & Safety, LLC |  | 1st Lien Term Loan | 6.17% | SOFR (M) | 2.50% |  | 12/2032 |  |  | 6641 | 6647 |  |  |
| Pye-Barker Fire & Safety, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  |  | (g) |  |
| QIMA Finance Ltd | Jersey | 1st Lien Term Loan | 9.15% | SOFR (Q) | 5.50% |  | 07/2032 |  |  | 7086 | 7086 | (e) |  |
| QIMA Finance Ltd | Jersey | 1st Lien Delay Draw Term Loan | 9.15% | SOFR (Q) | 5.50% |  | 07/2032 |  |  | 697 | 697 | (e)(g) |  |
| Registrar Intermediate, LLC |  | 1st Lien Revolving Loan | 8.68% | SOFR (Q) | 5.00% |  | 08/2029 |  |  | 508 | 498 | (e)(g) |  |
| Registrar Intermediate, LLC |  | 1st Lien Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 08/2029 |  |  | 4444 | 4355 | (e)(f) |  |
| Registrar Intermediate, LLC |  | 1st Lien Delay Draw Term Loan | 8.68% | SOFR (Q) | 5.00% |  | 08/2029 |  |  | 524 | 514 | (e)(g) |  |
| Rocket Buyer, LLC |  | 1st Lien Revolving Loan | 8.16% | SOFR (Q) | 4.50% |  | 02/2033 |  |  | 159 | 157 | (e)(g) |  |
| Rocket Buyer, LLC |  | 1st Lien Term Loan | 8.15% | SOFR (Q) | 4.50% |  | 02/2033 |  |  | 2150 | 2129 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Rocket Buyer, LLC |  | 1st Lien Delay Draw Term Loan |  | SOFR (Q) | 4.50% |  | 02/2033 |  | 27 | 26 | (e)(g) |  |
| Rodeo AcquisitionCo LLC |  | 1st Lien Revolving Loan |  | SOFR (Q) | 4.75% |  | 07/2029 |  | 16 | 17 | (e)(g) |  |
| Rodeo AcquisitionCo LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 07/2029 |  | 3707 | 3707 | (e)(f) |  |
| RSK Group Limited | United Kingdom | 1st Lien Term Loan | 9.25% (2.50% PIK) | SONIA (Q) | 5.38% |  | 08/2028 |  | £1272 | 1684 | (e)(f) |  |
| RSK Group Limited | United Kingdom | 1st Lien Term Loan | 7.39% | EURIBOR (Q) | 5.38% |  | 09/2030 |  | 1061 | 1227 | (e)(f) |  |
| RSK Group Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 9.24% | SONIA (Q) | 5.38% |  | 09/2030 |  | £21952 | 29056 | (e)(f) |  |
| Saturn Purchaser Corp. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2030 |  |  |  | (e)(g) |  |
| Saturn Purchaser Corp. |  | 1st Lien Term Loan | 8.52% | SOFR (M) | 4.75% |  | 07/2030 |  | 221 | 221 | (e) |  |
| Saturn Purchaser Corp. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2030 |  |  |  | (e)(g) |  |
| SGM Acquisition Sub, LLC |  | 1st Lien Revolving Loan | 8.42% | SOFR (M) | 4.75% |  | 12/2031 |  | 85 | 84 | (e)(g) |  |
| SGM Acquisition Sub, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 12/2031 |  | 2152 | 2131 | (e)(f) |  |
| SGM Acquisition Sub, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2031 |  |  |  | (e)(g) |  |
| SV Newco 2, Inc. |  | 1st Lien Revolving Loan | 11.50% | PRIME (Q) | 4.75% |  | 06/2031 |  | 68 | 68 | (e)(g) |  |
| SV Newco 2, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 06/2031 |  | 1027 | 1027 | (e)(f) |  |
| SV Newco 2, Inc. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 06/2031 |  | 647 | 647 | (e)(g) |  |
| Systems Planning and Analysis, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2027 |  |  |  | (e)(g) |  |
| Systems Planning and Analysis, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 08/2027 |  | 4342 | 4342 | (e)(f) |  |
| Talon Buyer Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2032 |  |  |  | (e)(g) |  |
| Talon Buyer Inc. |  | 1st Lien Term Loan | 7.92% | SOFR (Q) | 4.25% |  | 07/2032 |  | 799 | 791 | (e)(f) |  |
| Talon Buyer Inc. |  | 1st Lien Delay Draw Term Loan | 7.92% | SOFR (Q) | 4.25% |  | 07/2032 |  | 111 | 110 | (e)(g) |  |
| Thermostat Purchaser III, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2028 |  |  |  | (e)(g) |  |
| Thermostat Purchaser III, Inc. |  | 2nd Lien Term Loan | 11.07% | SOFR (Q) | 7.25% |  | 08/2029 |  | 3575 | 3504 | (e) |  |
| Triple JJJ Lube, Corp. |  | 1st Lien Revolving Loan |  | SOFR (Q) | 6.00% |  | 01/2032 |  | 9 | 9 | (e)(g) |  |
| Triple JJJ Lube, Corp. |  | 1st Lien Term Loan | 9.67% | SOFR (Q) | 6.00% |  | 01/2032 |  | 1211 | 1211 | (e)(f) |  |
| TSS Buyer, LLC |  | 1st Lien Term Loan | 8.69% | SOFR (Q) | 5.00% |  | 06/2029 |  | 254 | 255 | (e)(f) |  |
| TSS Buyer, LLC |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 06/2029 |  | 21 | 21 | (e) |  |
| TSS Buyer, LLC |  | 1st Lien Delay Draw Term Loan | 8.69% | SOFR (Q) | 5.00% |  | 06/2029 |  | 305 | 305 | (e)(g) |  |
| Unifi Aviation North America, LLC |  | 1st Lien Revolving Loan | 6.56% | SOFR (Q) | 2.75% |  | 09/2028 |  | 1 | 1 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Unifi Aviation North America, LLC |  | 1st Lien Term Loan | 8.82% | SOFR (Q) | 5.00% |  | 09/2028 |  | 1991 | 1991 | (e) |  |
| Unifi Aviation North America, LLC |  | 1st Lien Term Loan | 9.07% | SOFR (Q) | 5.25% |  | 09/2028 |  | 276 | 276 | (e)(f) |  |
| Unifi Aviation North America, LLC |  | 1st Lien Delay Draw Term Loan | 9.07% | SOFR (Q) | 5.25% |  | 09/2028 |  | 560 | 560 | (e)(g) |  |
| Unity Purchaser, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 01/2031 |  |  |  | (e)(g) |  |
| Unity Purchaser, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 01/2031 |  | 1239 | 1239 | (e)(f) |  |
| Unity Purchaser, LLC |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 01/2031 |  | 932 | 932 | (e)(g) |  |
| UP Intermediate II LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2031 |  |  |  | (e)(g) |  |
| UP Intermediate II LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 03/2032 |  | 770 | 770 | (e)(f) |  |
| VADELLA BIDCO LIMITED | United Kingdom | 1st Lien Revolving Loan | 9.23% | SONIA (Q) | 5.50% |  | 06/2032 |  | £40 | 52 | (e)(g) |  |
| VADELLA BIDCO LIMITED | United Kingdom | 1st Lien Term Loan | 9.26% | SONIA (Q) | 5.50% |  | 12/2032 |  | £163 | 216 | (e) |  |
| VADELLA BIDCO LIMITED | United Kingdom | 1st Lien Delay Draw Term Loan |  | SONIA (S) | 5.50% |  | 12/2032 |  | £9 | 12 | (e)(g) |  |
| VEIT, LLC |  | 1st Lien Revolving Loan | 8.82% | SOFR (Q) | 5.00% |  | 01/2029 |  | 4 | 4 | (e)(g) |  |
| VEIT, LLC |  | 1st Lien Term Loan | 15.85% PIK | SOFR (Q) | 12.00% |  | 01/2029 |  | 26 | 26 | (e) |  |
| VEIT, LLC |  | 1st Lien Term Loan | 8.85% | SOFR (Q) | 5.00% |  | 01/2029 |  | 7 | 7 | (e)(f) |  |
| Visual Edge Technology, Inc. |  | 1st Lien Term Loan | 10.85% (3.50% PIK) | SOFR (Q) | 7.00% |  | 01/2029 |  | 2260 | 2260 | (e) |  |
| Visual Edge Technology, Inc. |  | 1st Lien Delay Draw Term Loan | 15.85% PIK | SOFR (Q) | 12.00% |  | 01/2029 |  | 21 | 21 | (e) |  |
| VRC Companies, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 06/2027 |  |  |  | (e)(g) |  |
| VRC Companies, LLC |  | 1st Lien Term Loan | 8.92% | SOFR (Q) | 5.25% |  | 06/2027 |  | 16151 | 16151 | (e)(f) |  |
| Vulcan UK Bidco Limited | United Kingdom | 1st Lien Term Loan | 8.88% | SOFR (S) | 5.25% |  | 05/2032 |  | 700 | 700 | (e) |  |
| W.S. Connelly & Co., LLC |  | 1st Lien Revolving Loan | 7.70% | SOFR (Q) | 4.00% |  | 05/2030 |  | 762 | 762 | (e)(g) |  |
| W.S. Connelly & Co., LLC |  | 1st Lien Revolving Loan | 9.75% | PRIME (Q) | 3.00% |  | 05/2030 |  | 254 | 254 | (e)(g) |  |
| W.S. Connelly & Co., LLC |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 05/2030 |  | 590 | 590 | (e)(f) |  |
| W.S. Connelly & Co., LLC |  | 1st Lien Delay Draw Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 05/2030 |  | 414 | 415 | (e)(f) |  |
| W.S. Connelly & Co., LLC |  | 1st Lien Delay Draw Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 05/2030 |  | 894 | 894 | (e)(g) |  |
| Zinc Buyer Corporation |  | 1st Lien Revolving Loan |  |  |  |  | 07/2031 |  |  |  | (e)(g) |  |
| Zinc Buyer Corporation |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 07/2031 |  | 1864 | 1864 | (e)(f) |  |
| Zinc Buyer Corporation |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2031 |  | 16 | 16 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 590080 |  | 11.95% |
| **Consumer Distribution and Retail** | **Consumer Distribution and Retail** | **Consumer Distribution and Retail** |  |  |  |  |  |  |  |  |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Bamboo Purchaser, Inc. |  | 1st Lien Revolving Loan | 8.40% | SOFR (Q) | 4.75% |  | 11/2026 |  | 1 | 1 | (e)(g) |  |
| Bamboo Purchaser, Inc. |  | 1st Lien Term Loan |  |  |  |  | 12/2029 |  | 4894 | 762 | (e)(f)(i) |  |
| Bamboo Purchaser, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2029 |  | 240 | 178 | (e)(g)(i) |  |
| BGI Purchaser, Inc. |  | 1st Lien Revolving Loan | 7.42% | SOFR (Q) | 3.75% |  | 05/2030 |  | 2856 | 2856 | (e)(g) |  |
| BGI Purchaser, Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 05/2031 |  | 3572 | 3572 | (e)(f) |  |
| BGI Purchaser, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 05/2031 |  |  |  | (e)(g) |  |
| Blazing Star Parent, LLC |  | 1st Lien Term Loan | 10.67% | SOFR (Q) | 7.00% |  | 08/2030 |  | 11392 | 11392 | (e)(f) |  |
| BR PJK Produce, LLC |  | 1st Lien Term Loan | 10.06% | SOFR (Q) | 6.25% |  | 11/2027 |  | 94 | 94 | (e)(f) |  |
| BR PJK Produce, LLC |  | 1st Lien Term Loan | 10.05% | SOFR (Q) | 6.25% |  | 12/2027 |  | 81 | 81 | (e)(f) |  |
| BR PJK Produce, LLC |  | 1st Lien Delay Draw Term Loan | 10.06% | SOFR (Q) | 6.25% |  | 11/2027 |  | 557 | 557 | (e) |  |
| City Line Distributors LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2028 |  |  |  | (e)(g) |  |
| City Line Distributors LLC |  | 1st Lien Term Loan | 9.93% | SOFR (Q) | 6.00% |  | 08/2028 |  | 307 | 307 | (e)(f) |  |
| City Line Distributors LLC |  | 1st Lien Delay Draw Term Loan | 9.93% | SOFR (Q) | 6.00% |  | 08/2028 |  | 123 | 123 | (e)(f) |  |
| DecoPac, Inc. |  | 1st Lien Revolving Loan | 8.66% | SOFR (Q) | 5.00% |  | 05/2030 |  | 1058 | 1058 | (e)(g) |  |
| DecoPac, Inc. |  | 1st Lien Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 05/2030 |  | 27720 | 27719 | (e)(f) |  |
| GMF Parent, Inc. |  | 1st Lien Revolving Loan |  | SOFR (Q) | 4.50% |  | 12/2032 |  | 13 | 13 | (e)(g) |  |
| GMF Parent, Inc. |  | 1st Lien Term Loan | 8.19% | SOFR (Q) | 4.50% |  | 12/2032 |  | 1757 | 1740 | (e)(f) |  |
| GMF Parent, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Hills Distribution, Inc. |  | 1st Lien Revolving Loan | 7.69% | SOFR (Q) | 4.00% |  | 11/2029 |  | 255 | 254 | (e)(g) |  |
| Hills Distribution, Inc. |  | 1st Lien Term Loan | 9.20% | SOFR (Q) | 5.50% |  | 11/2029 |  | 685 | 685 | (e)(f) |  |
| Hills Distribution, Inc. |  | 1st Lien Delay Draw Term Loan | 9.20% | SOFR (Q) | 5.50% |  | 11/2029 |  | 310 | 310 | (e)(g) |  |
| LJ Perimeter Buyer, Inc. |  | 1st Lien Term Loan | 10.32% | SOFR (Q) | 6.50% |  | 10/2028 |  | 3176 | 3144 | (e)(f) |  |
| LJ Perimeter Buyer, Inc. |  | 1st Lien Delay Draw Term Loan | 10.32% | SOFR (Q) | 6.50% |  | 10/2028 |  | 408 | 404 | (e)(f)(g)(h) |  |
| Marcone Yellowstone Buyer Inc. |  | 1st Lien Term Loan | 7.56% | SOFR (Q) | 3.75% |  | 06/2028 |  | 11043 | 8945 | (e)(f) |  |
| Marcone Yellowstone Buyer Inc. |  | 1st Lien Delay Draw Term Loan | 7.56% | SOFR (Q) | 3.75% |  | 06/2028 |  | 3643 | 2951 | (e) |  |
| Mavis Tire Express Services Topco, Corp. |  | 1st Lien Term Loan | 6.67% | SOFR (M) | 3.00% |  | 05/2028 |  | 5844 | 5834 |  |  |
| Mountaineer Merger Corporation |  | 1st Lien Revolving Loan | 8.66% | SOFR (Q) | 5.00% |  | 10/2027 |  | 2905 | 2760 | (e)(g) |  |
| Mr. Greens Intermediate, LLC |  | 1st Lien Revolving Loan | 9.52% | SOFR (Q) | 5.75% |  | 05/2031 |  | 58 | 58 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Mr. Greens Intermediate, LLC |  | 1st Lien Term Loan | 9.52% | SOFR (Q) | 5.75% |  | 05/2031 |  |  | 2828 | 2829 | (e)(f) |  |
| Mr. Greens Intermediate, LLC |  | 1st Lien Delay Draw Term Loan | 9.52% | SOFR (Q) | 5.75% |  | 05/2031 |  |  | 200 | 200 | (e)(g) |  |
| Project Cardinal Acquisition, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 10/2032 |  |  |  |  | (e)(g) |  |
| Project Cardinal Acquisition, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 10/2032 |  |  | 729 | 722 | (e)(f) |  |
| Project Cardinal Acquisition, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 10/2032 |  |  |  |  | (e)(g) |  |
| Quirch Foods Holdings, LLC |  | 1st Lien Term Loan | 10.20% | SOFR (Q) | 6.50% |  | 11/2030 |  |  | 7281 | 7208 | (e)(f) |  |
| Quirch Foods Holdings, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 11/2030 |  |  |  |  | (e)(g) |  |
| Reddy Ice LLC |  | 1st Lien Revolving Loan | 12.25% | PRIME (Q) | 5.50% |  | 04/2029 |  |  | 2493 | 2493 | (e)(g) |  |
| Reddy Ice LLC |  | 1st Lien Term Loan | 8.92% | SOFR (Q) | 5.25% |  | 04/2029 |  |  | 33238 | 33238 | (e)(f) |  |
| Reddy Ice LLC |  | 1st Lien Delay Draw Term Loan | 8.92% | SOFR (Q) | 5.25% |  | 04/2029 |  |  | 33645 | 33645 | (e)(f)(g) |  |
| Royal Borrower, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 07/2030 |  |  |  |  | (e)(g) |  |
| Royal Borrower, LLC |  | 1st Lien Term Loan | 9.43% | SOFR (M) | 5.75% |  | 07/2030 |  |  | 2377 | 2377 | (e)(f) |  |
| Royal Borrower, LLC |  | 1st Lien Delay Draw Term Loan | 9.43% | SOFR (M) | 5.75% |  | 07/2030 |  |  | 538 | 538 | (e)(g) |  |
| Saldon Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 03/2028 |  |  |  |  | (e)(g) |  |
| Saldon Holdings, Inc. |  | 1st Lien Term Loan | 9.02% | SOFR (M) | 5.25% |  | 03/2028 |  |  | 9985 | 9986 | (e)(f) |  |
| SCIH Salt Holdings Inc. |  | 1st Lien Term Loan | 6.35% | SOFR (Q) | 2.75% |  | 01/2029 |  |  | 30990 | 30888 | (f) |  |
| Shur-Co Acquisition, Inc. |  | 1st Lien Term Loan | 9.17% | SOFR (M) | 5.50% |  | 07/2030 |  |  | 5773 | 5773 | (e)(f) |  |
| Worldwide Produce Acquisition, LLC |  | 1st Lien Revolving Loan | 10.39% | SOFR (Q) | 6.75% |  | 01/2029 |  |  | 3 | 3 | (e)(g) |  |
| Worldwide Produce Acquisition, LLC |  | 1st Lien Term Loan | 10.42% | SOFR (Q) | 6.75% |  | 01/2029 |  |  | 147 | 128 | (e)(f) |  |
| Worldwide Produce Acquisition, LLC |  | 1st Lien Delay Draw Term Loan | 10.42% | SOFR (Q) | 6.75% |  | 01/2029 |  |  | 53 | 46 | (e)(f) |  |
|  |  |  |  |  |  |  |  |  |  |  | 205872 |  | 4.17% |
| **Consumer Durables and Apparel** | **Consumer Durables and Apparel** | **Consumer Durables and Apparel** |  |  |  |  |  |  |  |  |  |  |  |
| Centric Brands LLC |  | 1st Lien Term Loan | 9.17% | SOFR (Q) | 5.50% |  | 08/2029 |  |  | 964 | 964 | (e) |  |
| DRS Holdings III, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2028 |  |  |  |  | (e)(g) |  |
| DRS Holdings III, Inc. |  | 1st Lien Term Loan | 8.92% | SOFR (M) | 5.25% |  | 11/2028 |  |  | 14275 | 14275 | (e)(f) |  |
| Fossil Group, Inc. |  | 1st Lien Revolving Loan | 8.93% | SOFR (M) | 5.00% |  | 08/2030 |  |  | 140 | 140 | (e)(g) |  |
| Rawlings Sporting Goods Company, Inc. |  | 1st Lien Revolving Loan | 7.52% | SOFR (M) | 3.75% |  | 11/2029 |  |  | 2193 | 2193 | (e)(g) |  |
| Rawlings Sporting Goods Company, Inc. |  | 1st Lien Term Loan | 8.60% | SOFR (Q) | 4.75% |  | 11/2030 |  |  | 7545 | 7545 | (e)(f) |  |
| Sport Maska Inc. | Canada | 1st Lien Revolving Loan | 8.92% | SOFR (M) | 5.25% |  | 12/2030 |  | CAD | 572 | 412 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Sport Maska Inc. | Canada | 1st Lien Term Loan | 7.78% | CDOR (M) | 5.50% |  | 12/2030 |  | 9467 | 6805 | (e)(f) |  |
| ST Athena Global LLC |  | 1st Lien Revolving Loan | 8.92% | SOFR (Q) | 5.25% |  | 06/2029 |  | 75 | 74 | (e)(g) |  |
| ST Athena Global LLC |  | 1st Lien Term Loan | 8.94% | SOFR (Q) | 5.25% |  | 06/2030 |  | 4112 | 4029 | (e)(f) |  |
| ST Athena Global LLC |  | 1st Lien Term Loan | 8.98% | SONIA (M) | 5.25% |  | 06/2030 |  | £1861 | 2414 | (e)(f) |  |
| ST Athena Global LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 06/2030 |  |  |  | (e)(g) |  |
| Varsity Brands, Inc. |  | 1st Lien Term Loan | 6.45% | SOFR (Q) | 2.75% |  | 08/2031 |  | 6893 | 6856 |  |  |
|  |  |  |  |  |  |  |  |  |  | 45707 |  | 0.93% |
| **Consumer Services** | **Consumer Services** |  |  |  |  |  |  |  |  |  |  |  |
| Apex Service Partners, LLC |  | 1st Lien Revolving Loan | 8.69% | SOFR (Q) | 5.00% |  | 10/2029 |  | 978 | 978 | (e)(g) |  |
| Apex Service Partners, LLC |  | 1st Lien Term Loan | 8.68% | SOFR (Q) | 5.00% |  | 10/2030 |  | 23800 | 23800 | (e)(f) |  |
| Apex Service Partners, LLC |  | 1st Lien Delay Draw Term Loan | 8.68% | SOFR (Q) | 5.00% |  | 10/2030 |  | 11793 | 11794 | (e)(f) |  |
| ASP Dream Acquisition Co LLC |  | 1st Lien Term Loan | 8.02% | SOFR (M) | 4.25% |  | 12/2028 |  | 5903 | 5342 | (e)(f) |  |
| Astra Service Partners, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 11/2032 |  | 3208 | 3176 | (e)(f) |  |
| Astra Service Partners, LLC |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 11/2032 |  | 210 | 208 | (e)(g) |  |
| Birdie Bidco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2032 |  |  |  | (e)(g) |  |
| Birdie Bidco, Inc. |  | 1st Lien Term Loan | 8.45% (2.25% PIK) | SOFR (Q) | 4.75% |  | 11/2032 |  | 1201 | 1189 | (e)(f) |  |
| Birdie Bidco, Inc. |  | 1st Lien Delay Draw Term Loan | 8.44% (2.25% PIK) | SOFR (Q) | 4.75% |  | 11/2032 |  | 29 | 29 | (e)(g) |  |
| Bumble Bidco Limited | United Kingdom | 1st Lien Term Loan | 10.50% | SONIA (Q) | 6.75% |  | 10/2030 |  | £3542 | 4688 | (e) |  |
| Bumble Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.50% | SONIA (Q) | 6.75% |  | 10/2030 |  | £313 | 413 | (e)(g) |  |
| CC Fly Holding II A/S | Denmark | 1st Lien Term Loan | 9.92% | NIBOR (M) | 5.75% |  | 05/2026 |  | 3813 | 548 | (e)(f) |  |
| CC Fly Holding II A/S | Denmark | 1st Lien Term Loan | 9.70% | CIBOR (Q) | 7.75% |  | 05/2026 |  | 6064 | 872 | (e)(f) |  |
| CC Fly Holding II A/S | Denmark | 1st Lien Term Loan | 9.92% | NIBOR (Q) | 5.75% |  | 05/2026 |  | 804 | 116 | (e)(f) |  |
| Clarion Home Services Group, LLC |  | 1st Lien Revolving Loan | 9.78% | SOFR (Q) | 6.00% |  | 12/2027 |  | 354 | 294 | (e)(g) |  |
| Clarion Home Services Group, LLC |  | 1st Lien Term Loan | 11.76% (6.00% PIK) | SOFR (Q) | 8.00% |  | 12/2027 |  | 2632 | 2211 | (e) |  |
| Clarion Home Services Group, LLC |  | 1st Lien Delay Draw Term Loan | 11.76% (6.00% PIK) | SOFR (Q) | 8.00% |  | 12/2027 |  | 1495 | 1255 | (e) |  |
| Clarion Home Services Group, LLC |  | 1st Lien Delay Draw Term Loan | 12.04% (6.25% PIK) | SOFR (Q) | 8.25% |  | 12/2027 |  | 273 | 229 | (e) |  |
| ClubCorp Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2031 |  |  |  | (e)(g) |  |
| ClubCorp Holdings, Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 07/2032 |  | 1482 | 1482 | (e)(f) |  |
| ClubCorp Holdings, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2032 |  |  |  | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| CMG HoldCo, LLC |  | 1st Lien Revolving Loan | 8.10% | SOFR (Q) | 4.50% |  | 11/2030 |  | 275 | 272 | (e)(g) |  |
| CMG HoldCo, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (S) | 4.75% |  | 11/2030 |  | 659 | 652 | (e)(f) |  |
| CMG HoldCo, LLC |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (S) | 4.75% |  | 11/2030 |  | 1365 | 1351 | (e)(f) |  |
| CMG HoldCo, LLC |  | 1st Lien Delay Draw Term Loan | 8.44% | SOFR (Q) | 4.75% |  | 11/2030 |  | 1831 | 1813 | (e)(g) |  |
| CST Holding Company |  | 1st Lien Revolving Loan | 8.86% | SOFR (Q) | 5.00% |  | 11/2028 |  | 24 | 24 | (e)(g) |  |
| CST Holding Company |  | 1st Lien Term Loan | 8.77% | SOFR (M) | 5.00% |  | 11/2028 |  | 1054 | 1054 | (e)(f) |  |
| Davidson Hotel Company LLC |  | 1st Lien Revolving Loan |  |  |  |  | 10/2031 |  |  |  | (e)(g) |  |
| Davidson Hotel Company LLC |  | 1st Lien Term Loan | 8.67% | SOFR (M) | 5.00% |  | 10/2031 |  | 3306 | 3306 | (e)(f) |  |
| Davidson Hotel Company LLC |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (M) | 5.00% |  | 10/2031 |  | 98 | 98 | (e)(g) |  |
| ECG Bidco S.A.S. | France | 1st Lien Term Loan | 7.55% | EURIBOR (Q) | 5.43% |  | 10/2028 |  | 6010 | 6947 | (e)(f) |  |
| ECG Bidco S.A.S. | France | 1st Lien Term Loan | 11.51% | SONIA (Q) | 7.50% |  | 05/2029 |  | £9567 | 12663 | (e)(f) |  |
| ECG Bidco S.A.S. | France | 1st Lien Term Loan | 7.35% | EURIBOR (B) | 4.75% |  | 05/2029 |  | 17736 | 20500 | (e) |  |
| ECG Bidco S.A.S. | France | 1st Lien Delay Draw Term Loan |  |  |  |  | 05/2029 |  | 2453 | 2835 | (e)(f)(g) |  |
| Equinox Holdings, Inc. |  | 1st Lien Term Loan | 10.95% | SOFR (Q) | 7.25% |  | 03/2029 |  | 45267 | 45267 | (e)(f) |  |
| Equinox Holdings, Inc. |  | 2nd Lien Term Loan | 16.00% PIK |  |  |  | 06/2027 |  | 4625 | 4625 | (e) |  |
| Essential Services Holding Corporation |  | 1st Lien Revolving Loan | 8.66% | SOFR (Q) | 5.00% |  | 06/2030 |  | 1045 | 1003 | (e)(g) |  |
| Essential Services Holding Corporation |  | 1st Lien Term Loan | 9.17% (2.75% PIK) | SOFR (Q) | 5.50% |  | 06/2031 |  | 21311 | 20458 | (e)(f) |  |
| Essential Services Holding Corporation |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 06/2031 |  |  |  | (e)(g) |  |
| Eternal Aus Bidco Pty Ltd | Australia | 1st Lien Term Loan | 9.04% | BBSY (Q) | 5.00% |  | 10/2029 |  | 913 | 630 | (e) |  |
| Eternal Aus Bidco Pty Ltd | Australia | 1st Lien Delay Draw Term Loan | 9.04% | BBSY (Q) | 5.00% |  | 10/2029 |  | 39 | 27 | (e)(g) |  |
| EuroParcs Topholding B.V. | Netherlands | 1st Lien Term Loan | 10.39% |  |  |  | 07/2029 |  | 634 | 732 | (e) |  |
| EuroParcs Topholding B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 10.31% |  |  |  | 07/2029 |  | 292 | 338 | (e)(g) |  |
| Excel Fitness Consolidator LLC |  | 1st Lien Revolving Loan | 8.42% | SOFR (M) | 4.75% |  | 04/2030 |  | 31 | 32 | (e)(g) |  |
| Excel Fitness Consolidator LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 04/2030 |  | 1376 | 1376 | (e)(f) |  |
| Excel Fitness Consolidator LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 04/2030 |  |  |  | (e)(g) |  |
| Family First Bidco Limited | United Kingdom | 1st Lien Term Loan | 12.50% |  |  |  | 12/2029 |  | £33 | 44 | (e) |  |
| Fertitta Entertainment, LLC |  | 1st Lien Term Loan | 6.92% | SOFR (M) | 3.25% |  | 01/2029 |  | 5211 | 5102 | (f) |  |
| Fitness Ventures Holdings, Inc. |  | 1st Lien Revolving Loan | 7.68% | SOFR (M) | 4.00% |  | 08/2030 |  | 132 | 131 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Fitness Ventures Holdings, Inc. |  | 1st Lien Term Loan | 8.68% | SOFR (M) | 5.00% |  | 08/2031 |  | 1995 | 1995 | (e)(f) |  |
| Fitness Ventures Holdings, Inc. |  | 1st Lien Delay Draw Term Loan | 8.68% | SOFR (M) | 5.00% |  | 08/2031 |  | 836 | 836 | (e)(g) |  |
| Flint Opco, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2029 |  |  |  | (e)(g) |  |
| Flint Opco, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 08/2030 |  | 1008 | 1008 | (e)(f) |  |
| Flint Opco, LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 08/2030 |  | 1270 | 1270 | (e)(f)(g) |  |
| GS SEER Group Borrower LLC |  | 1st Lien Revolving Loan | 10.42% | SOFR (M) | 6.75% |  | 04/2029 |  | 15 | 14 | (e)(g) |  |
| GS SEER Group Borrower LLC |  | 1st Lien Term Loan | 10.45% | SOFR (Q) | 6.75% |  | 04/2030 |  | 317 | 294 | (e) |  |
| GS SEER Group Borrower LLC |  | 1st Lien Delay Draw Term Loan | 10.45% | SOFR (Q) | 6.75% |  | 04/2030 |  | 116 | 108 | (e)(g) |  |
| IFH Franchisee Holdings, LLC |  | 1st Lien Revolving Loan | 7.66% | SOFR (Q) | 4.00% |  | 12/2029 |  | 1158 | 1158 | (e)(g) |  |
| IFH Franchisee Holdings, LLC |  | 1st Lien Term Loan | 9.16% | SOFR (Q) | 5.50% |  | 12/2029 |  | 3849 | 3849 | (e)(f) |  |
| IFH Franchisee Holdings, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2029 |  |  |  | (e)(g) |  |
| Infinity Home Services HoldCo, Inc. |  | 1st Lien Revolving Loan | 11.75% | PRIME (Q) | 5.00% |  | 12/2028 |  | 114 | 114 | (e)(g) |  |
| Infinity Home Services HoldCo, Inc. |  | 1st Lien Term Loan | 9.70% | SOFR (Q) | 6.00% |  | 12/2028 |  | 3298 | 3298 | (e)(f) |  |
| Infinity Home Services HoldCo, Inc. |  | 1st Lien Delay Draw Term Loan | 9.70% | SOFR (Q) | 6.00% |  | 12/2028 |  | 2128 | 2128 | (e)(f) |  |
| Infinity Home Services HoldCo, Inc. |  | 1st Lien Delay Draw Term Loan | 9.20% | SOFR (Q) | 5.50% |  | 12/2028 |  | 1714 | 1714 | (e)(g) |  |
| INSPIRED EDUCATION US HOLDINGS INC. |  | 1st Lien Term Loan | 6.42% | SOFR (S) | 2.75% |  | 02/2031 |  | 1000 | 997 |  |  |
| Inspiring Generations B.V. | Netherlands | 1st Lien Term Loan | 7.38% | EURIBOR (Q) | 5.25% |  | 07/2032 |  | 489 | 565 | (e) |  |
| Inspiring Generations B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 7.38% | EURIBOR (Q) | 5.25% |  | 07/2032 |  | 284 | 327 | (e)(g) |  |
| IRB Holding Corp. |  | 1st Lien Term Loan | 6.18% | SOFR (M) | 2.50% |  | 12/2030 |  | 7738 | 7715 | (f) |  |
| Leviathan Intermediate Holdco, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2027 |  |  |  | (e)(g) |  |
| Leviathan Intermediate Holdco, LLC |  | 1st Lien Term Loan | 9.70% | SOFR (Q) | 6.00% |  | 12/2027 |  | 1349 | 1349 | (e)(f) |  |
| LGDN Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.23% (2.50% PIK) | SONIA (Q) | 5.50% |  | 12/2028 |  | £2195 | 2906 | (e)(f) |  |
| LGDN Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 9.35% | SONIA (Q) | 5.50% |  | 12/2028 |  | £122 | 161 | (e)(f)(g) |  |
| LHS Borrower, LLC |  | 1st Lien Revolving Loan | 8.92% | SOFR (M) | 5.25% |  | 09/2031 |  | 50 | 49 | (e)(g) |  |
| LHS Borrower, LLC |  | 1st Lien Term Loan | 8.92% | SOFR (M) | 5.25% |  | 09/2031 |  | 1110 | 1087 | (e)(f) |  |
| Mustang Prospects Purchaser, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 06/2031 |  |  |  | (e)(g) |  |
| Mustang Prospects Purchaser, LLC |  | 1st Lien Term Loan | 8.94% | SOFR (Q) | 5.25% |  | 06/2031 |  | 1505 | 1506 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Mustang Prospects Purchaser, LLC |  | 1st Lien Delay Draw Term Loan | 8.94% | SOFR (M) | 5.13% |  | 06/2031 |  |  | 721 | 720 | (e) |  |
| Mustang Prospects Purchaser, LLC |  | 1st Lien Delay Draw Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 06/2031 |  |  | 158 | 158 | (e) |  |
| North Haven Fairway Buyer, LLC |  | 1st Lien Revolving Loan | 8.68% | SOFR (Q) | 5.00% |  | 05/2028 |  |  | 54 | 54 | (e)(g) |  |
| North Haven Fairway Buyer, LLC |  | 1st Lien Term Loan | 8.66% | SOFR (Q) | 5.00% |  | 05/2028 |  |  | 683 | 683 | (e)(f) |  |
| North Haven Fairway Buyer, LLC |  | 1st Lien Delay Draw Term Loan | 8.69% | SOFR (Q) | 5.00% |  | 05/2028 |  |  | 194 | 194 | (e)(f) |  |
| North Haven Fairway Buyer, LLC |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 05/2028 |  |  | 1658 | 1658 | (e)(g) |  |
| Northwinds Holding, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 05/2029 |  |  |  |  | (e)(g) |  |
| Northwinds Holding, Inc. |  | 1st Lien Term Loan | 9.06% | SOFR (Q) | 5.25% |  | 05/2029 |  |  | 4178 | 4178 | (e)(f) |  |
| Northwinds Holding, Inc. |  | 1st Lien Delay Draw Term Loan | 9.06% | SOFR (Q) | 5.25% |  | 05/2029 |  |  | 2830 | 2830 | (e)(f) |  |
| Northwinds Holding, Inc. |  | 1st Lien Delay Draw Term Loan | 9.08% | SOFR (Q) | 5.25% |  | 05/2029 |  |  | 1960 | 1960 | (e)(g) |  |
| PestCo, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2030 |  |  |  |  | (e)(g) |  |
| PestCo, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 08/2030 |  |  | 190 | 190 | (e)(f) |  |
| PestCo, LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 08/2030 |  |  | 22 | 22 | (e)(g) |  |
| Pinnacle MEP Intermediate Holdco LLC |  | 1st Lien Revolving Loan | 10.44% (1.50% PIK) | SOFR (Q) | 6.75% |  | 10/2030 |  |  | 208 | 191 | (e)(g) |  |
| Pinnacle MEP Intermediate Holdco LLC |  | 1st Lien Term Loan | 10.45% (1.50% PIK) | SOFR (Q) | 6.75% |  | 10/2030 |  |  | 1384 | 1274 | (e)(f) |  |
| Pinnacle MEP Intermediate Holdco LLC |  | 1st Lien Delay Draw Term Loan | 10.45% (1.50% PIK) | SOFR (Q) | 6.75% |  | 10/2030 |  |  | 485 | 447 | (e)(g) |  |
| Premiere Buyer, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 05/2030 |  |  |  |  | (e)(g) |  |
| Premiere Buyer, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 05/2031 |  |  | 3517 | 3517 | (e)(f) |  |
| Premiere Buyer, LLC |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 05/2031 |  |  | 656 | 656 | (e)(g) |  |
| Proyectos Deportivos Forus, S.L.U. | Spain | 1st Lien Term Loan | 8.70% | EURIBOR (B) | 6.75% |  | 10/2031 |  | € | 358 | 414 | (e) |  |
| Proyectos Deportivos Forus, S.L.U. | Spain | 1st Lien Delay Draw Term Loan | 8.70% | EURIBOR (B) | 6.75% |  | 10/2031 |  | € | 60 | 69 | (e)(g) |  |
| Quick Quack Car Wash Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 06/2031 |  |  |  |  | (e)(g) |  |
| Quick Quack Car Wash Holdings, LLC |  | 1st Lien Term Loan | 8.67% | SOFR (M) | 5.00% |  | 06/2031 |  |  | 2211 | 2210 | (e)(f) |  |
| Quick Quack Car Wash Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (M) | 5.00% |  | 06/2031 |  |  | 545 | 546 | (e)(g) |  |
| Radiant Intermediate Holding, LLC |  | 1st Lien Term Loan | 9.52% | SOFR (Q) | 5.75% |  | 11/2026 |  |  | 501 | 496 | (e) |  |
| Redwood Services, LP |  | 1st Lien Revolving Loan |  |  |  |  | 06/2032 |  |  |  |  | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Redwood Services, LP |  | 1st Lien Term Loan | 7.95% | SOFR (Q) | 4.25% |  | 06/2032 |  |  | 2341 | 2341 | (e)(f) |  |
| Redwood Services, LP |  | 1st Lien Delay Draw Term Loan | 7.95% | SOFR (Q) | 4.25% |  | 06/2032 |  |  | 250 | 250 | (e)(g) |  |
| Rust Investment Sarl | Luxembourg | 1st Lien Term Loan |  |  |  |  | 11/2034 |  | € | 5607 | 4530 | (e)(i) |  |
| Saber Parent Holdings Corp. |  | 1st Lien Revolving Loan | 10.25% | PRIME (Q) | 3.50% |  | 12/2032 |  |  | 83 | 83 | (e)(g) |  |
| Saber Parent Holdings Corp. |  | 1st Lien Term Loan | 8.42% (2.25% PIK) | SOFR (Q) | 4.75% |  | 12/2032 |  |  | 1692 | 1675 | (e)(f) |  |
| Saber Parent Holdings Corp. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  |  | (e)(g) |  |
| Safe Home Security, Inc. |  | 1st Lien Term Loan | 9.78% (1.00% PIK) | SOFR (Q) | 6.00% |  | 12/2026 |  |  | 671 | 658 | (e)(f) |  |
| Safe Home Security, Inc. |  | 1st Lien Delay Draw Term Loan | 9.78% (1.00% PIK) | SOFR (M) | 6.00% |  | 12/2026 |  |  | 53 | 52 | (e)(f) |  |
| TSWT Acquisition, Inc. |  | 1st Lien Revolving Loan | 8.68% | SOFR (M) | 5.00% |  | 11/2031 |  |  | 13 | 13 | (e)(g) |  |
| TSWT Acquisition, Inc. |  | 1st Lien Term Loan | 8.67% | SOFR (M) | 5.00% |  | 11/2031 |  |  | 259 | 256 | (e)(f) |  |
| TSWT Acquisition, Inc. |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (M) | 5.00% |  | 11/2031 |  |  | 37 | 37 | (e)(g) |  |
| Vertex Service Partners, LLC |  | 1st Lien Revolving Loan | 9.70% | SOFR (Q) | 6.00% |  | 11/2030 |  |  | 161 | 147 | (e)(g) |  |
| Vertex Service Partners, LLC |  | 1st Lien Term Loan | 9.70% (5.50% PIK) | SOFR (Q) | 6.00% |  | 11/2030 |  |  | 1045 | 951 | (e)(f) |  |
| Vertex Service Partners, LLC |  | 1st Lien Delay Draw Term Loan | 9.70% (5.50% PIK) | SOFR (Q) | 6.00% |  | 11/2030 |  |  | 1993 | 1814 | (e)(f) |  |
| Vertex Service Partners, LLC |  | 1st Lien Delay Draw Term Loan | 9.70% (4.14% PIK) | SOFR (Q) | 6.00% |  | 11/2030 |  |  | 1196 | 1085 | (e)(g) |  |
| Vista Higher Learning, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 09/2031 |  |  |  |  | (e)(g) |  |
| Vista Higher Learning, LLC |  | 1st Lien Term Loan | 7.17% | SOFR (Q) | 3.50% |  | 09/2031 |  |  | 1 | 1 | (e) |  |
| Vista Higher Learning, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 09/2031 |  |  | 599 | 587 | (e)(f) |  |
| YE Brands Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 10/2027 |  |  |  |  | (e)(g) |  |
| YE Brands Holdings, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 10/2027 |  |  | 2150 | 2150 | (e)(f) |  |
| YE Brands Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 10/2027 |  |  | 316 | 317 | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  | 263766 |  | 5.34% |
| **Energy** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Enviva Inc. |  | 1st Lien Term Loan | 10.54% | SOFR (Q) | 6.88% |  | 12/2029 |  |  | 40301 | 40502 |  |  |
| Freeport LNG investments, LLLP |  | 1st Lien Term Loan | 6.89% | SOFR (Q) | 3.25% |  | 02/2033 |  |  | 4000 | 3997 |  |  |
| GNZ Energy Bidco Limited | New Zealand | 1st Lien Delay Draw Term Loan | 8.51% | BKBM (Q) | 6.00% |  | 07/2027 |  | NZD | 19293 | 11087 | (e)(f)(g) |  |
| HighPeak Energy, Inc. |  | 1st Lien Term Loan | 11.35% | SOFR (Q) | 7.50% |  | 09/2028 |  |  | 14903 | 14902 | (e) |  |
| Phoenix Operating LLC |  | 1st Lien Term Loan | 10.80% | SOFR (Q) | 7.00% |  | 10/2028 |  |  | 2766 | 2750 | (e) |  |
| Phoenix Operating LLC |  | 1st Lien Delay Draw Term Loan | 10.80% | SOFR (Q) | 7.00% |  | 10/2028 |  |  | 5255 | 5255 | (e) |  |
| Prairie ECI Acquiror LP |  | 1st Lien Term Loan | 6.92% | SOFR (M) | 3.25% |  | 08/2029 |  |  | 5166 | 5170 | (f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| PX HoldCo3 Limited | United Kingdom | 1st Lien Term Loan | 10.86% | SONIA (Q) | 7.00% |  | 04/2027 |  | £2947 | 3823 | (e)(f) |  |
| PX HoldCo3 Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 11.10% | SONIA (Q) | 7.25% |  | 04/2027 |  | £221 | 287 | (e) |  |
| TransMontaigne Operating Company L.P. |  | 1st Lien Term Loan | 5.92% | SOFR (M) | 2.25% |  | 03/2030 |  | 5824 | 5811 | (f) |  |
|  |  |  |  |  |  |  |  |  |  | 93584 |  | 1.89% |
| **Financial Services** | **Financial Services** |  |  |  |  |  |  |  |  |  |  |  |
| Aduro Advisors, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 07/2030 |  |  |  | (e)(g) |  |
| Aduro Advisors, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 07/2030 |  | 2478 | 2478 | (e)(f) |  |
| Aduro Advisors, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2030 |  |  |  | (e)(g) |  |
| Alpha Luxco 2 Sarl | Luxembourg | 1st Lien Term Loan | 5.31% PIK | EURIBOR (S) | 2.00% |  | 01/2027 |  | 1072 | 1239 | (e)(f) |  |
| Arete Bidco Limited | Jersey | 1st Lien Term Loan | 10.43% (2.00% PIK) | SONIA (Q) | 6.69% |  | 05/2031 |  | £2590 | 3428 | (e) |  |
| Arete Bidco Limited | Jersey | 1st Lien Delay Draw Term Loan | 10.43% (2.00% PIK) | SONIA (Q) | 6.69% |  | 05/2031 |  | £2552 | 3378 | (e) |  |
| Arete Bidco Limited | Jersey | 1st Lien Delay Draw Term Loan | 10.44% | SONIA (Q) | 6.69% |  | 05/2031 |  | £697 | 923 | (e)(g) |  |
| BCC Blueprint Holdings I, LLC |  | 1st Lien Term Loan | 10.45% | SOFR (Q) | 6.75% |  | 09/2027 |  | 7377 | 7377 | (e) |  |
| Beacon Pointe Harmony, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2027 |  |  |  | (e)(g) |  |
| Beacon Pointe Harmony, LLC |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 12/2028 |  | 5893 | 5893 | (e)(f) |  |
| Beacon Pointe Harmony, LLC |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (M) | 4.50% |  | 12/2028 |  | 12000 | 12000 | (e)(f) |  |
| Beacon Pointe Harmony, LLC |  | 1st Lien Delay Draw Term Loan | 8.18% | SOFR (M) | 4.50% |  | 12/2028 |  | 15 | 15 | (e)(g) |  |
| BlauwTrust Holding B.V. | Netherlands | 1st Lien Term Loan | 9.38% | EURIBOR (Q) | 7.25% |  | 01/2029 |  | 5045 | 5831 | (e)(f) |  |
| Cezanne Bidco | France | 1st Lien Term Loan | 7.05% | EURIBOR (Q) | 5.00% |  | 10/2031 |  | 5762 | 6660 | (e) |  |
| Cezanne Bidco | France | 1st Lien Delay Draw Term Loan | 7.05% | EURIBOR (Q) | 5.00% |  | 10/2031 |  | 2345 | 2710 | (e)(g) |  |
| CFC Bidco 2022 Limited | United Kingdom | 1st Lien Term Loan | 7.16% | SOFR (Q) | 3.50% |  | 07/2032 |  | 18570 | 17688 |  |  |
| Clearstead Advisors, LLC |  | 1st Lien Revolving Loan | 8.17% | SOFR (M) | 4.50% |  | 02/2029 |  | 32 | 32 | (e)(g) |  |
| Clearstead Advisors, LLC |  | 1st Lien Term Loan | 8.23% | SOFR (Q) | 4.50% |  | 02/2028 |  | 577 | 578 | (e)(f) |  |
| Clearstead Advisors, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 02/2029 |  |  |  | (e)(g) |  |
| Convera International Financial S.a r.l. | Jersey | 1st Lien Term Loan | 8.59% | SOFR (Q) | 4.75% |  | 03/2030 |  | 22416 | 22416 | (e)(f) |  |
| Convera International Holdings Limited | Jersey | 1st Lien Revolving Loan |  |  |  |  | 03/2030 |  |  |  | (e)(g) |  |
| Convera International Holdings Limited | Jersey | 1st Lien Term Loan | 8.60% | SOFR (Q) | 4.75% |  | 03/2030 |  | 7369 | 7369 | (e)(f) |  |
| De Hypothekers Associatie Holding B.V. | Netherlands | 1st Lien Term Loan | 8.75% | EURIBOR (S) | 6.25% |  | 01/2029 |  | 1526 | 1764 | (e)(f) |  |
| Edelman Financial Engines Center, LLC, The |  | 1st Lien Term Loan | 6.67% | SOFR (M) | 3.00% |  | 04/2028 |  | 13245 | 13223 | (f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Edelman Financial Engines Center, LLC, The |  | 2nd Lien Term Loan | 8.92% | SOFR (M) | 5.25% |  | 10/2028 |  | 20850 | 20610 |  |  |
| Endeavor Bidco LLC |  | 1st Lien Term Loan | 7.92% | SOFR (Q) | 4.25% |  | 08/2029 |  | 1307 | 1307 | (e)(f) |  |
| GC Waves Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 10/2030 |  |  |  | (e)(g) |  |
| GC Waves Holdings, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 10/2030 |  | 1854 | 1854 | (e)(f) |  |
| GC Waves Holdings, Inc. |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (M) | 4.50% |  | 10/2030 |  | 8942 | 8942 | (e)(g) |  |
| GreatBear Bidco Limited | Jersey | 1st Lien Term Loan | 8.99% | SONIA (Q) | 5.25% |  | 01/2031 |  | £300 | 396 | (e) |  |
| GreatBear Bidco Limited | Jersey | 1st Lien Delay Draw Term Loan | 8.99% | SONIA (Q) | 5.25% |  | 01/2031 |  | £443 | 586 | (e)(g) |  |
| Grit Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2031 |  |  |  | (e)(g) |  |
| Grit Buyer, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 07/2032 |  | 768 | 768 | (e)(f) |  |
| Grit Buyer, Inc. |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 07/2032 |  | 123 | 123 | (e)(g) |  |
| GTCR Everest Borrower, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 09/2029 |  |  |  | (e)(g) |  |
| GTCR F Buyer Corp. |  | 1st Lien Revolving Loan | 8.67% | SOFR (M) | 5.00% |  | 09/2029 |  | 3 | 3 | (e)(g) |  |
| GTCR F Buyer Corp. |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 09/2030 |  | 879 | 879 | (e)(f) |  |
| GTCR F Buyer Corp. |  | 1st Lien Delay Draw Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 09/2030 |  | 277 | 277 | (e) |  |
| GTCR F Buyer Corp. |  | 1st Lien Delay Draw Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 09/2030 |  | 127 | 127 | (e)(g) |  |
| HighTower Holding, LLC |  | 1st Lien Term Loan | 6.41% | SOFR (Q) | 2.75% |  | 02/2032 |  | 6628 | 6549 | (f) |  |
| IVC Acquisition Ltd | Canada | 1st Lien Term Loan | 6.12% | EURIBOR (Q) | 4.00% |  | 12/2028 |  | 6022 | 6908 |  |  |
| Jewel Bidco Limited | United Kingdom | 1st Lien Term Loan |  |  |  |  | 07/2028 |  | £7477 | 7064 | (e)(f)(i) |  |
| Jewel Bidco Limited | United Kingdom | 1st Lien Term Loan | 15.00% |  |  |  | 07/2028 |  | £73 | 97 | (e) |  |
| Jewel Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2028 |  | £4370 | 4128 | (e)(i) |  |
| Medlar Bidco Limited | Jersey | 1st Lien Term Loan | 8.73% | SONIA (Q) | 5.00% |  | 05/2032 |  | £3785 | 5010 | (e)(f) |  |
| Medlar Bidco Limited | Jersey | 1st Lien Term Loan | 6.52% | EURIBOR (Q) | 4.50% |  | 05/2032 |  | 5395 | 6235 | (e)(f) |  |
| Medlar Bidco Limited | Jersey | 1st Lien Delay Draw Term Loan |  |  |  |  | 05/2032 |  | £— |  | (e)(g) |  |
| Mercatus Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.22% | SONIA (S) | 5.25% |  | 11/2032 |  | £1000 | 1324 | (e) |  |
| Merit Financial Group, LLC |  | 1st Lien Revolving Loan | 8.42% | SOFR (Q) | 4.75% |  | 08/2032 |  | 141 | 141 | (e)(g) |  |
| Merit Financial Group, LLC |  | 1st Lien Term Loan | 8.44% | SOFR (Q) | 4.75% |  | 08/2032 |  | 690 | 690 | (e)(f) |  |
| Merit Financial Group, LLC |  | 1st Lien Delay Draw Term Loan | 8.44% | SOFR (Q) | 4.75% |  | 08/2032 |  | 165 | 165 | (e)(g) |  |
| Monica Holdco (US), Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2030 |  |  |  | (e)(g) |  |
| Monica Holdco (US), Inc. |  | 1st Lien Term Loan | 9.10% | SOFR (Q) | 5.25% |  | 07/2030 |  | 15052 | 15052 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Monica Holdco (US), Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2030 |  |  |  | (e)(g) |  |
| Nexus Buyer LLC |  | 2nd Lien Term Loan | 9.42% | SOFR (M) | 5.75% |  | 02/2032 |  | 2288 | 2207 |  |  |
| Oak Funding LLC |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 12/2032 |  | 65420 | 64766 | (e)(f) |  |
| Oak Funding LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| OLIFAN GROUP PARTNERS | France | 1st Lien Term Loan | 8.37% | EURIBOR (S) | 6.25% |  | 03/2032 |  | 1089 | 1259 | (e) |  |
| OLIFAN GROUP PARTNERS | France | 1st Lien Delay Draw Term Loan | 8.37% | EURIBOR (S) | 6.25% |  | 03/2032 |  | 146 | 169 | (e)(g) |  |
| Pathstone Family Office LLC |  | 1st Lien Revolving Loan | 8.27% | SOFR (M) | 4.50% |  | 05/2028 |  | 151 | 151 | (e)(g) |  |
| Pathstone Family Office LLC |  | 1st Lien Term Loan | 8.27% | SOFR (M) | 4.50% |  | 05/2029 |  | 7560 | 7561 | (e)(f) |  |
| Pathstone Family Office LLC |  | 1st Lien Delay Draw Term Loan | 8.27% | SOFR (M) | 4.50% |  | 05/2029 |  | 253 | 253 | (e)(f) |  |
| Pathstone Family Office LLC |  | 1st Lien Delay Draw Term Loan | 8.27% | SOFR (M) | 4.50% |  | 05/2029 |  | 189 | 189 | (e)(g) |  |
| PCIA SPV-3, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2029 |  |  |  | (e)(g) |  |
| PCIA SPV-3, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 08/2029 |  | 1482 | 1482 | (e)(f) |  |
| PCIA SPV-3, LLC |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (Q) | 4.75% |  | 08/2029 |  | 1285 | 1285 | (e)(g) |  |
| PCS Midco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 03/2030 |  |  |  | (e)(g) |  |
| PCS Midco, Inc. |  | 1st Lien Term Loan | 9.45% | SOFR (Q) | 5.75% |  | 03/2030 |  | 907 | 907 | (e)(f) |  |
| PCS Midco, Inc. |  | 1st Lien Delay Draw Term Loan | 9.45% | SOFR (Q) | 5.75% |  | 03/2030 |  | 195 | 196 | (e)(g) |  |
| Pegasus (Bidco) Limited | Jersey | 1st Lien Term Loan | 10.81% | SONIA (S) | 6.75% |  | 04/2029 |  | £4125 | 5460 | (e)(f) |  |
| Pegasus (Bidco) Limited | Jersey | 1st Lien Delay Draw Term Loan | 10.81% | SONIA (S) | 6.75% |  | 04/2029 |  | £822 | 1087 | (e) |  |
| Perigon Wealth Management, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2031 |  |  |  | (e)(g) |  |
| Perigon Wealth Management, LLC |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 03/2031 |  | 1991 | 1991 | (e)(f) |  |
| Perigon Wealth Management, LLC |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (M) | 4.50% |  | 03/2031 |  | 1757 | 1757 | (e)(g) |  |
| Plutus Bidco Limited | Jersey | 1st Lien Term Loan | 8.73% | SONIA (S) | 5.00% |  | 09/2029 |  | £7000 | 9265 | (e) |  |
| Project Optimus Bidco Limited | Jersey | 1st Lien Revolving Loan |  |  |  |  | 05/2031 |  | £— |  | (e)(g) |  |
| Project Optimus Bidco Limited | Jersey | 1st Lien Term Loan | 9.23% | SONIA (Q) | 5.50% |  | 05/2031 |  | £309 | 409 | (e) |  |
| Project Optimus Bidco Limited | Jersey | 1st Lien Delay Draw Term Loan |  |  |  |  | 05/2031 |  | £— |  | (e)(g) |  |
| RWA Wealth Partners, LLC |  | 1st Lien Revolving Loan |  | SOFR (Q) | 4.75% |  | 11/2030 |  | 21 | 21 | (e)(g) |  |
| RWA Wealth Partners, LLC |  | 1st Lien Term Loan | 8.40% | SOFR (Q) | 4.75% |  | 11/2030 |  | 3098 | 3098 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| RWA Wealth Partners, LLC |  | 1st Lien Delay Draw Term Loan | 8.40% | SOFR (Q) | 4.75% |  | 11/2030 |  | 594 | 594 | (e)(g) |  |
| Seeker Bidco Ltd | United Kingdom | 1st Lien Term Loan | 9.23% | SONIA (Q) | 5.50% |  | 11/2032 |  | £329 | 436 | (e) |  |
| Seeker Bidco Ltd | United Kingdom | 1st Lien Delay Draw Term Loan | 9.23% | SONIA (Q) | 5.50% |  | 11/2032 |  | £8 | 10 | (e)(g) |  |
| Skyliner BIS S.A R.L. | Luxembourg | 1st Lien Term Loan | 8.41% | EURIBOR (S) | 6.25% |  | 09/2031 |  | 1427 | 1649 | (e) |  |
| Skyliner BIS S.A R.L. | Luxembourg | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2031 |  |  |  | (e)(g)(h) |  |
| Stepstone Group MidCo 2 GmbH, The | Germany | 1st Lien Term Loan | 6.60% | EURIBOR (Q) | 4.50% |  | 04/2032 |  | 6000 | 6039 |  |  |
| Steward Partners Global Advisory, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 10/2028 |  |  |  | (e)(g) |  |
| Steward Partners Global Advisory, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 10/2028 |  | 380 | 380 | (e)(f) |  |
| Steward Partners Global Advisory, LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 10/2028 |  | 577 | 577 | (e) |  |
| Steward Partners Global Advisory, LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 10/2028 |  | 354 | 354 | (e)(g) |  |
| The Mather Group, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2028 |  |  |  | (e)(g) |  |
| The Mather Group, LLC |  | 1st Lien Term Loan | 9.10% | SOFR (Q) | 5.25% |  | 03/2028 |  | 4813 | 4813 | (e)(f) |  |
| The Mather Group, LLC |  | 1st Lien Term Loan | 9.35% | SOFR (Q) | 5.50% |  | 03/2028 |  | 852 | 852 | (e)(f) |  |
| The Mather Group, LLC |  | 1st Lien Delay Draw Term Loan | 9.10% | SOFR (Q) | 5.25% |  | 03/2028 |  | 1989 | 1989 | (e)(f)(g) |  |
| The Ultimus Group Midco, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 07/2032 |  |  |  | (e)(g) |  |
| The Ultimus Group Midco, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 07/2032 |  | 1942 | 1942 | (e)(f) |  |
| The Ultimus Group Midco, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2032 |  |  |  | (e)(g) |  |
| TK Elevator Midco GmbH | Germany | 1st Lien Term Loan | 5.15% | EURIBOR (S) | 3.00% |  | 04/2030 |  | 7125 | 8173 |  |  |
| Toscafund Limited | United Kingdom | 1st Lien Term Loan | 12.07% | SONIA (S) | 8.00% |  | 04/2026 |  | £700 | 927 | (e)(f) |  |
| TPG IX Cardiff Debt HoldCo I, LLC |  | 1st Lien Term Loan | 10.15% PIK | SOFR (Q) | 6.50% |  | 01/2033 |  | 4579 | 4579 | (e) |  |
| Waverly Advisors, LLC |  | 1st Lien Revolving Loan | 9.60% | SOFR (Q) | 5.75% |  | 03/2028 |  | 189 | 189 | (e)(g) |  |
| Waverly Advisors, LLC |  | 1st Lien Term Loan | 9.60% | SOFR (Q) | 5.75% |  | 03/2028 |  | 1985 | 1985 | (e)(f) |  |
| Waverly Advisors, LLC |  | 1st Lien Delay Draw Term Loan | 9.60% | SOFR (Q) | 5.75% |  | 03/2028 |  | 1451 | 1451 | (e)(f) |  |
| Waverly Advisors, LLC |  | 1st Lien Delay Draw Term Loan | 9.35% | SOFR (Q) | 5.50% |  | 03/2028 |  | 3178 | 3178 | (e)(f) |  |
| Waverly Advisors, LLC |  | 1st Lien Delay Draw Term Loan | 8.85% | SOFR (Q) | 5.00% |  | 03/2028 |  | 5837 | 5837 | (e)(g) |  |
| Wealth Enhancement Group, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 10/2028 |  |  |  | (e)(g) |  |
| Wealth Enhancement Group, LLC |  | 1st Lien Term Loan | 7.91% | SOFR (Q) | 4.25% |  | 10/2028 |  | 3484 | 3449 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Wealth Enhancement Group, LLC |  | 1st Lien Delay Draw Term Loan | 8.16% | SOFR (Q) | 4.50% |  | 10/2028 |  | 682 | 675 | (e) |  |
| Wealth Enhancement Group, LLC |  | 1st Lien Delay Draw Term Loan | 7.90% | SOFR (Q) | 4.25% |  | 10/2028 |  | 3836 | 3797 | (e)(g) |  |
| Wealth Enhancement Group, LLC |  | 1st Lien Delay Draw Term Loan | 7.91% | SOFR (Q) | 4.25% |  | 10/2028 |  | 15201 | 15050 | (e)(f) |  |
| Wellington-Altus Financial Inc. | Canada | 1st Lien Revolving Loan |  |  |  |  | 08/2030 |  |  |  | (e)(g) |  |
| Wellington-Altus Financial Inc. | Canada | 1st Lien Term Loan | 7.60% | CORRA (Q) | 5.00% |  | 08/2030 |  | 1129 | 811 | (e)(f) |  |
| Wellington-Altus Financial Inc. | Canada | 1st Lien Delay Draw Term Loan |  |  |  |  | 08/2030 |  |  |  | (e)(g) |  |
| Wharf Street Ratings Acquisition LLC |  | 1st Lien Revolving Loan |  |  |  |  | 09/2032 |  |  |  | (e)(g) |  |
| Wharf Street Ratings Acquisition LLC |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 09/2032 |  | 1583 | 1583 | (e)(f) |  |
| Wharf Street Ratings Acquisition LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2032 |  |  |  | (e)(g) |  |
| WSBidCo Limited | Jersey | 1st Lien Term Loan | 10.35% (0.25% PIK) | SONIA (Q) | 6.50% |  | 06/2028 |  | £2679 | 3546 | (e)(f) |  |
| WSBidCo Limited | Jersey | 1st Lien Delay Draw Term Loan | 10.36% | SONIA (Q) | 6.50% |  | 06/2028 |  | £8430 | 11158 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 393773 |  | 7.97% |
| **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** |  |  |  |  |  |  |  |  |  |  |
| Badia Spices, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2030 |  |  |  | (e)(g) |  |
| Badia Spices, LLC |  | 1st Lien Term Loan | 7.92% | SOFR (Q) | 4.25% |  | 11/2030 |  | 8099 | 8099 | (e)(f) |  |
| Berner Food & Beverage, LLC |  | 1st Lien Revolving Loan | 9.82% | SOFR (Q) | 6.00% |  | 07/2026 |  | 167 | 166 | (e)(g) |  |
| Berner Food & Beverage, LLC |  | 1st Lien Term Loan | 9.82% | SOFR (Q) | 6.00% |  | 07/2027 |  | 2736 | 2736 | (e)(f) |  |
| Chobani, LLC |  | 1st Lien Term Loan | 5.92% | SOFR (M) | 2.25% |  | 10/2032 |  | 7887 | 7884 | (f) |  |
| Demakes Borrower, LLC |  | 1st Lien Term Loan | 9.70% | SOFR (Q) | 6.00% |  | 12/2029 |  | 937 | 937 | (e)(f) |  |
| Florida Food Products, LLC |  | 1st Lien Term Loan | 9.15% | SOFR (Q) | 5.50% |  | 10/2030 |  | 12 | 12 | (e) |  |
| Florida Food Products, LLC |  | 1st Lien Term Loan | 8.83% (2.00% PIK) | SOFR (Q) | 5.00% |  | 10/2030 |  | 1312 | 905 | (e) |  |
| Florida Food Products, LLC |  | 1st Lien Term Loan |  |  |  |  | 04/2031 |  | 6149 | 3689 | (e)(i) |  |
| Gotham Greens Holdings, PBC |  | 2nd Lien Term Loan | 15.00% PIK |  |  |  | 02/2029 |  | 1347 | 1239 | (e) |  |
| HBH Buyer, LLC |  | 1st Lien Revolving Loan | 7.20% | SOFR (Q) | 3.50% |  | 09/2031 |  | 158 | 158 | (e)(g) |  |
| HBH Buyer, LLC |  | 1st Lien Term Loan | 8.95% | SOFR (Q) | 5.25% |  | 09/2031 |  | 991 | 991 | (e)(f) |  |
| HBH Buyer, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2031 |  |  |  | (e)(g) |  |
| Impact SAS | France | 1st Lien Term Loan | 8.13% | EURIBOR (Q) | 6.00% |  | 02/2032 |  | 2000 | 2312 | (e) |  |
| KNPC Holdco, LLC |  | 1st Lien Term Loan | 9.27% | SOFR (Q) | 5.50% |  | 10/2029 |  | 2007 | 2007 | (e)(f) |  |
| KNPC Holdco, LLC |  | 1st Lien Term Loan | 10.52% | SOFR (Q) | 6.75% |  | 10/2029 |  | 946 | 946 | (e)(f) |  |
| KNPC Holdco, LLC |  | 1st Lien Term Loan | 9.52% | SOFR (Q) | 5.75% |  | 10/2029 |  | 7267 | 7267 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| RB Holdings Interco, LLC |  | 1st Lien Revolving Loan | 8.82% | SOFR (Q) | 5.00% |  | 05/2028 |  | 266 | 256 | (e)(g) |  |
| RB Holdings Interco, LLC |  | 1st Lien Term Loan | 9.07% | SOFR (Q) | 5.25% |  | 05/2028 |  | 3638 | 3492 | (e)(f) |  |
| Spindrift Beverage Co., Inc. |  | 1st Lien Revolving Loan | 8.67% | SOFR (Q) | 5.00% |  | 02/2032 |  | 58 | 58 | (e)(g) |  |
| Spindrift Beverage Co., Inc. |  | 1st Lien Term Loan | 8.65% | SOFR (Q) | 5.00% |  | 02/2032 |  | 1737 | 1737 | (e)(f) |  |
| Spindrift Beverage Co., Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 02/2032 |  |  |  | (e)(g) |  |
| Sugar PPC Buyer LLC |  | 1st Lien Term Loan | 8.42% | SOFR (S) | 4.75% |  | 10/2031 |  | 2106 | 2106 | (e)(f) |  |
| Sugar PPC Buyer LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (S) | 4.75% |  | 10/2031 |  | 585 | 585 | (e)(f) |  |
| Sugar PPC Buyer LLC |  | 1st Lien Delay Draw Term Loan | 8.35% | SOFR (S) | 4.75% |  | 10/2031 |  | 349 | 349 | (e)(g) |  |
| Supplying Demand, Inc. |  | 1st Lien Revolving Loan | 7.67% | SOFR (Q) | 4.00% |  | 11/2027 |  | 469 | 469 | (e)(g) |  |
| Watermill Express, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2031 |  |  |  | (e)(g) |  |
| Watermill Express, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 04/2031 |  | 3346 | 3346 | (e)(f) |  |
| Watermill Express, LLC |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 04/2031 |  | 421 | 421 | (e)(f) |  |
| Watermill Express, LLC |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (Q) | 4.50% |  | 04/2031 |  | 469 | 469 | (e)(g) |  |
| Wilbur-Ellis Holdings II LLC |  | 1st Lien Revolving Loan | 8.17% | SOFR (Q) | 4.50% |  | 06/2030 |  | 195 | 191 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 52827 |  | 1.07% |
| **Health Care Equipment and Services** | **Health Care Equipment and Services** | **Health Care Equipment and Services** |  |  |  |  |  |  |  |  |  |  |
| Aerin Medical Inc. |  | 1st Lien Term Loan | 10.95% (3.88% PIK) | SOFR (Q) | 7.25% |  | 12/2030 |  | 2379 | 2355 | (e) |  |
| Aerin Medical Inc. |  | 1st Lien Delay Draw Term Loan | 10.95% (3.88% PIK) | SOFR (Q) | 7.25% |  | 12/2030 |  | 387 | 383 | (e)(g) |  |
| Agiliti Health, Inc. |  | 1st Lien Term Loan | 6.86% | SOFR (S) | 3.00% |  | 05/2030 |  | 8310 | 8060 |  |  |
| Alcresta Therapeutics, Inc. |  | 1st Lien Revolving Loan | 9.17% | SOFR (Q) | 5.50% |  | 03/2031 |  | 16 | 15 | (e)(g) |  |
| Alcresta Therapeutics, Inc. |  | 1st Lien Term Loan | 9.17% | SOFR (Q) | 5.50% |  | 03/2031 |  | 467 | 462 | (e)(f) |  |
| Alcresta Therapeutics, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 03/2031 |  |  |  | (e)(g) |  |
| Aledade, Inc. |  | 1st Lien Revolving Loan | 9.42% | SOFR (M) | 5.75% |  | 11/2028 |  | 1639 | 1623 | (e)(g) |  |
| Artivion, Inc. |  | 1st Lien Revolving Loan | 7.16% | SOFR (Q) | 3.50% |  | 01/2031 |  | 168 | 167 | (e)(g) |  |
| Artivion, Inc. |  | 1st Lien Term Loan | 8.41% | SOFR (Q) | 4.75% |  | 01/2031 |  | 2278 | 2278 | (e)(f) |  |
| Artivion, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2031 |  |  |  | (e)(g) |  |
| Aspris Bidco Limited | United Kingdom | 1st Lien Term Loan | 10.25% | SONIA (Q) | 6.25% |  | 08/2028 |  | £3234 | 4281 | (e)(f) |  |
| Aspris Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.10% | SONIA (Q) | 6.25% |  | 08/2028 |  | £1406 | 1861 | (e) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Aspris Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.60% | SONIA (Q) | 6.75% |  | 02/2030 |  | £571 | 757 | (e) |  |
| athenahealth Group Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 02/2031 |  |  |  | (e)(g) |  |
| athenahealth Group Inc. |  | 1st Lien Term Loan | 6.42% | SOFR (M) | 2.75% |  | 02/2029 |  | 10237 | 10032 |  |  |
| Avalign Technologies, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 12/2028 |  | 170 | 122 | (e)(g)(i) |  |
| Avalign Technologies, Inc. |  | 1st Lien Term Loan |  |  |  |  | 12/2028 |  | 1744 | 1251 | (e)(f)(i) |  |
| AX VI INV3 Holding AB | Sweden | 1st Lien Term Loan | 7.74% | EURIBOR (Q) | 5.75% |  | 08/2031 |  | 34172 | 3610 | (e) |  |
| AX VI INV3 Holding AB | Sweden | 1st Lien Delay Draw Term Loan | 7.74% | EURIBOR (Q) | 5.75% |  | 08/2031 |  | 25502 | 2694 | (e)(g) |  |
| AX VI INV3 Holding AB | Sweden | 1st Lien Delay Draw Term Loan |  | CIBOR (Q) | 5.75% |  | 08/2031 |  | 193 | 223 | (e)(g) |  |
| Bausch + Lomb Corporation | Canada | 1st Lien Term Loan | 7.42% | SOFR (M) | 3.75% |  | 01/2031 |  | 10153 | 10166 | (f) |  |
| Bayou Intermediate II, LLC |  | 1st Lien Revolving Loan | 8.44% | SOFR (Q) | 4.75% |  | 09/2032 |  | 67 | 66 | (e)(g) |  |
| Bayou Intermediate II, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 09/2032 |  | 994 | 984 | (e)(f) |  |
| Bayou Intermediate II, LLC |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (M) | 4.75% |  | 09/2032 |  | 150 | 148 | (e)(g) |  |
| BrightStar Group Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 03/2032 |  |  |  | (e)(g) |  |
| BrightStar Group Holdings, Inc. |  | 1st Lien Term Loan | 8.38% | SOFR (S) | 4.75% |  | 03/2032 |  | 3808 | 3808 | (e)(f) |  |
| BVI Medical, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 03/2032 |  |  |  | (e)(g) |  |
| BVI Medical, Inc. |  | 1st Lien Term Loan | 9.92% (5.00% PIK) | SOFR (M) | 6.25% |  | 03/2032 |  | 20397 | 18765 | (e) |  |
| BVI Medical, Inc. |  | 1st Lien Delay Draw Term Loan | 9.66% | SOFR (Q) | 6.00% |  | 03/2032 |  | 644 | 592 | (e)(g) |  |
| CHPPR Midco Inc. |  | 1st Lien Term Loan | 12.75% | SOFR (Q) | 8.75% |  | 12/2029 |  | 4010 | 4003 |  |  |
| CMI Parent, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 01/2033 |  |  |  | (e)(g) |  |
| CMI Parent, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 01/2033 |  | 3358 | 3308 | (e)(f) |  |
| CMI Parent, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2033 |  |  |  | (e)(g) |  |
| CNT Holdings I Corp |  | 1st Lien Term Loan | 6.17% | SOFR (Q) | 2.50% |  | 11/2032 |  | 6921 | 6913 | (f) |  |
| Color Intermediate, LLC |  | 1st Lien Term Loan | 8.55% | SOFR (Q) | 4.75% |  | 10/2029 |  | 1809 | 1809 | (e)(f) |  |
| Colosseum Dental Finance BV | Netherlands | 1st Lien Term Loan | 5.62% | EURIBOR (Q) | 3.50% |  | 03/2032 |  | 5995 | 6920 |  |  |
| Convey Health Solutions, Inc. |  | 1st Lien Term Loan |  |  |  |  | 07/2029 |  | 1905 | 1257 | (e)(i) |  |
| Cradle Lux Bidco S.a r.l |  | 1st Lien Term Loan | 7.26% | EURIBOR (Q) | 5.25% |  | 11/2031 |  | 1959 | 2264 | (e)(f) |  |
| Cradle Lux Bidco S.a r.l |  | 1st Lien Term Loan | 8.92% | SOFR (Q) | 5.25% |  | 11/2031 |  | 721 | 721 | (e)(f) |  |
| Cradle Lux Bidco S.a r.l |  | 1st Lien Delay Draw Term Loan | 7.26% | EURIBOR (Q) | 5.25% |  | 11/2031 |  | 728 | 728 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Crossco (1469) Limited | United Kingdom | 1st Lien Term Loan | 9.97% (0.02% PIK) | SONIA (Q) | 6.25% |  | 12/2030 |  | £1935 | 2562 | (e) |  |
| Crossco (1469) Limited | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2030 |  | £— |  | (e)(g) |  |
| Crown CT Parent Inc. |  | 1st Lien Revolving Loan | 9.35% | SOFR (Q) | 5.50% |  | 03/2028 |  | 512 | 512 | (e)(g) |  |
| Crown CT Parent Inc. |  | 1st Lien Term Loan | 9.35% | SOFR (Q) | 5.50% |  | 03/2029 |  | 7986 | 7985 | (e)(f) |  |
| CVP Holdco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 06/2030 |  |  |  | (e)(g) |  |
| CVP Holdco, Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 06/2031 |  | 19710 | 19710 | (e)(f) |  |
| CVP Holdco, Inc. |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 06/2031 |  | 1737 | 1738 | (e)(g) |  |
| Electron Bidco Inc. |  | 1st Lien Term Loan | 6.17% | SOFR (M) | 2.50% |  | 02/2033 |  | 13795 | 13769 | (f) |  |
| Empower Payments Investor, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2030 |  |  |  | (e)(g) |  |
| Empower Payments Investor, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 03/2031 |  | 843 | 843 | (e)(f) |  |
| Empower Payments Investor, LLC |  | 1st Lien Term Loan | 8.40% | SOFR (Q) | 4.75% |  | 03/2031 |  | 772 | 771 | (e)(f) |  |
| Empower Payments Investor, LLC |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 03/2031 |  | 211 | 211 | (e)(g) |  |
| Ensemble RCM LLC |  | 1st Lien Term Loan | 6.66% |  |  |  | 02/2033 |  | 4135 | 4083 |  |  |
| Envisage Dental UK Limited | United Kingdom | 1st Lien Term Loan | 8.75% (2.19% PIK) | SONIA (Q) | 5.00% |  | 04/2031 |  | £2592 | 3431 | (e) |  |
| Envisage Dental UK Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 8.75% (2.19% PIK) | SONIA (Q) | 5.00% |  | 04/2031 |  | £1858 | 2459 | (e) |  |
| Envisage Dental UK Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.24% | SONIA (Q) | 6.50% |  | 04/2031 |  | £2017 | 2669 | (e)(g) |  |
| Evolent Health LLC |  | 1st Lien Revolving Loan | 7.66% | SOFR (Q) | 4.00% |  | 12/2029 |  | 2 | 2 | (e)(g) |  |
| Evolent Health LLC |  | 1st Lien Delay Draw Term Loan | 9.32% | SOFR (Q) | 5.50% |  | 12/2029 |  | 4907 | 4907 | (e) |  |
| Evolent Health LLC |  | 2nd Lien Term Loan | 9.81% | SOFR (Q) | 6.00% |  | 12/2029 |  | 64 | 64 | (e) |  |
| Floss Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.56% | SONIA (S) | 5.50% |  | 09/2026 |  | £812 | 1032 | (e)(f) |  |
| Gainwell Acquisition Corp. |  | 1st Lien Term Loan | 7.80% | SOFR (Q) | 4.00% |  | 10/2027 |  | 14734 | 14280 | (f) |  |
| Galaxy Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 01/2032 |  |  |  | (e)(g) |  |
| Galaxy Buyer, Inc. |  | 1st Lien Term Loan | 8.40% | SOFR (Q) | 4.75% |  | 01/2033 |  | 892 | 883 | (e)(f) |  |
| Galaxy Buyer, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2033 |  |  |  | (e)(g) |  |
| GHX Ultimate Parent Corporation |  | 1st Lien Revolving Loan |  |  |  |  | 02/2033 |  |  |  | (e)(g) |  |
| GHX Ultimate Parent Corporation |  | 1st Lien Term Loan | 8.70% (2.50% PIK) | SOFR (Q) | 5.00% |  | 02/2033 |  | 3441 | 3373 | (e)(f) |  |
| Global Medical Response, Inc. |  | 1st Lien Term Loan | 7.17% | SOFR (Q) | 3.50% |  | 10/2032 |  | 24877 | 24770 |  |  |
| Hamilton Thorne Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 11/2031 |  |  |  | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Healthco Investment Ltd | United Kingdom | 1st Lien Term Loan | 9.48% | SONIA (S) | 5.75% |  | 09/2032 |  | £642 | 849 | (e) |  |
| Healthco Investment Ltd | United Kingdom | 1st Lien Term Loan | 7.87% | EURIBOR (S) | 5.75% |  | 09/2032 |  | 2969 | 3432 | (e) |  |
| Healthco Investment Ltd | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2032 |  | £— |  | (e)(g) |  |
| Himalaya TopCo LLC |  | 1st Lien Revolving Loan | 8.44% | SOFR (Q) | 4.75% |  | 06/2032 |  | 1449 | 1449 | (e)(g) |  |
| Himalaya TopCo LLC |  | 1st Lien Term Loan | 8.70% (2.25% PIK) | SOFR (Q) | 5.00% |  | 06/2032 |  | 54463 | 54463 | (e)(f) |  |
| Himalaya TopCo LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 06/2032 |  |  |  | (e)(g) |  |
| Hologic Inc. |  | 1st Lien Term Loan |  |  |  |  | 01/2033 |  | 17000 | 16787 | (h) |  |
| HuFriedy Group Acquisition LLC |  | 1st Lien Revolving Loan |  |  |  |  | 05/2030 |  |  |  | (e)(g) |  |
| HuFriedy Group Acquisition LLC |  | 1st Lien Term Loan | 9.18% | SOFR (Q) | 5.50% |  | 05/2031 |  | 19003 | 19004 | (e)(f) |  |
| HuFriedy Group Acquisition LLC |  | 1st Lien Delay Draw Term Loan | 9.18% | SOFR (Q) | 5.50% |  | 05/2031 |  | 4160 | 4160 | (e) |  |
| HuFriedy Group Acquisition LLC |  | 1st Lien Delay Draw Term Loan | 9.18% | SOFR (Q) | 5.50% |  | 06/2031 |  | 625 | 625 | (e)(g) |  |
| Innovative Food Supplements Ltd | United Kingdom | 1st Lien Term Loan | 9.54% |  |  |  | 09/2032 |  | £3618 | 4788 | (e) |  |
| Innovative Food Supplements Ltd | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2032 |  | £— |  | (e)(g) |  |
| LivTech Purchaser, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2031 |  |  |  | (e)(g) |  |
| LivTech Purchaser, Inc. |  | 1st Lien Term Loan | 8.68% | SOFR (Q) | 5.00% |  | 11/2031 |  | 1287 | 1274 | (e)(f) |  |
| LivTech Purchaser, Inc. |  | 1st Lien Delay Draw Term Loan | 8.68% | SOFR (Q) | 5.00% |  | 11/2031 |  | 1185 | 1173 | (e)(g) |  |
| MAK-System Group Limited | United Kingdom | 1st Lien Term Loan | 10.63% | SOFR (S) | 7.00% |  | 02/2027 |  | 28461 | 28461 | (e)(f) |  |
| Mamba Purchaser, Inc. |  | 1st Lien Term Loan | 6.42% | SOFR (M) | 2.75% |  | 10/2031 |  | 14112 | 14115 | (f) |  |
| Medmark Services Inc |  | 1st Lien Term Loan |  |  |  |  | 06/2027 |  | 1759 | 1477 | (e)(f)(i) |  |
| Medmark Services Inc |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 06/2027 |  | 1504 | 1264 | (e)(f)(i) |  |
| Medmark Services Inc |  | 2nd Lien Term Loan |  |  |  |  | 06/2028 |  | 9139 | 548 | (e)(i) |  |
| Medmark Services Inc |  | 2nd Lien Delay Draw Term Loan |  |  |  |  | 06/2028 |  | 4897 | 294 | (e)(i) |  |
| Network Bidco B.V. | Netherlands | 1st Lien Term Loan | 7.13% | EURIBOR (Q) | 5.00% |  | 05/2031 |  | 5778 | 6678 | (e)(f) |  |
| Network Bidco B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 7.13% | EURIBOR (Q) | 5.00% |  | 05/2031 |  | 7241 | 8370 | (e) |  |
| Next Holdco, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2029 |  |  |  | (e)(g) |  |
| Next Holdco, LLC |  | 1st Lien Term Loan | 8.89% | SOFR (Q) | 5.25% |  | 11/2030 |  | 976 | 976 | (e)(f) |  |
| NextCare, Inc. |  | 2nd Lien Term Loan | 10.90% (7.90% PIK) | SOFR (Q) | 6.75% |  | 06/2026 |  | 8067 | 8067 | (e) |  |
| NMN Holdings III Corp. |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 07/2031 |  | 276 | 276 | (e)(f) |  |
| NMN Holdings III Corp. |  | 1st Lien Term Loan | 7.28% | CORRA (M) | 5.00% |  | 07/2031 |  | 711 | 511 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Premise Health Holding Corp. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2031 |  |  |  | (e)(g) |  |
| Premise Health Holding Corp. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 11/2032 |  | 5074 | 5074 | (e)(f) |  |
| Premise Health Holding Corp. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 11/2032 |  | 338 | 338 | (e)(g) |  |
| Prime Dental Alliance B.V. | Netherlands | 1st Lien Term Loan | 9.63% | EURIBOR (Q) | 7.50% |  | 06/2027 |  | 2200 | 2543 | (e)(f) |  |
| Prime Dental Alliance B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 9.63% | EURIBOR (Q) | 7.50% |  | 06/2027 |  | 1654 | 1912 | (e) |  |
| Prime Dental Alliance B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 9.88% | EURIBOR (Q) | 7.75% |  | 06/2027 |  | 4136 | 4781 | (e) |  |
| Project Alliance Buyer, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2031 |  |  |  | (e)(g) |  |
| Project Alliance Buyer, LLC |  | 1st Lien Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 08/2031 |  | 209 | 209 | (e)(f) |  |
| Project Ruby Ultimate Parent Corp. |  | 1st Lien Term Loan | 6.53% | SOFR (M) | 2.75% |  | 03/2028 |  | 12676 | 12605 |  |  |
| Radnet Management, Inc. |  | 1st Lien Term Loan |  |  |  |  | 04/2031 |  | 2375 | 2377 | (f) |  |
| Raven Acquisition Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2029 |  |  |  | (e)(g) |  |
| Raven Acquisition Holdings, LLC |  | 1st Lien Term Loan | 6.67% | SOFR (M) | 3.00% |  | 11/2031 |  | 8921 | 8741 |  |  |
| Raven Acquisition Holdings, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 11/2031 |  |  |  | (g) |  |
| Resonetics, LLC |  | 1st Lien Term Loan | 6.42% | SOFR (Q) | 2.75% |  | 06/2031 |  | 4906 | 4880 | (f) |  |
| Revival Animal Health, LLC |  | 1st Lien Revolving Loan | 9.70% | SOFR (Q) | 6.00% |  | 01/2028 |  | 307 | 288 | (e)(g) |  |
| Revival Animal Health, LLC |  | 1st Lien Term Loan | 9.69% | SOFR (Q) | 6.00% |  | 01/2028 |  | 3520 | 3309 | (e)(f) |  |
| Revival Animal Health, LLC |  | 1st Lien Delay Draw Term Loan | 9.69% | SOFR (Q) | 6.00% |  | 01/2028 |  | 1460 | 1373 | (e)(g) |  |
| Rubicone Bidco Limited | United Kingdom | 1st Lien Term Loan | 10.35% | SONIA (Q) | 6.50% |  | 12/2028 |  | £2943 | 3895 | (e)(f) |  |
| Rubicone Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.36% | SONIA (Q) | 6.50% |  | 12/2028 |  | £1698 | 2247 | (e) |  |
| Rubicone Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 12.12% (10.50% PIK) | SONIA (Q) | 8.25% |  | 12/2028 |  | £214 | 283 | (e)(g) |  |
| Scooby Bidco Limited | United Kingdom | 1st Lien Term Loan | 14.00% | SONIA (S) | 10.15% |  | 09/2032 |  | £1915 | 2535 | (e) |  |
| Signant Finance One Limited |  | 1st Lien Revolving Loan |  |  |  |  | 10/2031 |  |  |  | (e)(g) |  |
| Signant Finance One Limited |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 10/2031 |  | 308 | 305 | (e)(f) |  |
| Signant Finance One Limited |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 10/2031 |  |  |  | (e)(g) |  |
| Silver Bidco GmbH | Germany | 1st Lien Delay Draw Term Loan | 7.38% | EURIBOR (Q) | 5.25% |  | 06/2031 |  | 605 | 686 | (e)(g) |  |
| Spruce Bidco II Inc. |  | 1st Lien Revolving Loan | 8.37% | SOFR (S) | 4.75% |  | 01/2032 |  | 2590 | 2590 | (e)(g) |  |
| Spruce Bidco II Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (S) | 4.75% |  | 01/2032 |  | 45877 | 45878 | (e)(f) |  |
| Spruce Bidco II Inc. |  | 1st Lien Term Loan | 7.00% | CORRA (Q) | 4.75% |  | 01/2032 |  | 9294 | 6681 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Spruce Bidco II Inc. |  | 1st Lien Term Loan | 5.75% |  |  |  | 01/2032 |  | ¥993805 | 6262 | (e) |  |
| Surescripts, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2031 |  |  |  | (e)(g) |  |
| Surescripts, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 11/2031 |  | 4798 | 4798 | (e)(f) |  |
| Symplr Software Inc. |  | 1st Lien Revolving Loan | 7.42% | SOFR (Q) | 3.75% |  | 12/2027 |  | 1 |  | (e)(g) |  |
| Symplr Software Inc. |  | 1st Lien Term Loan | 8.27% | SOFR (Q) | 4.50% |  | 12/2027 |  | 3550 | 2485 | (f) |  |
| Symplr Software Inc. |  | 1st Lien Term Loan | 9.02% | SOFR (Q) | 5.25% |  | 12/2027 |  | 1819 | 1309 | (e)(f) |  |
| Symplr Software Inc. |  | 2nd Lien Term Loan | 11.64% | SOFR (Q) | 7.88% |  | 12/2028 |  | 15626 | 11251 | (e)(f) |  |
| Symplr Software Inc. |  | 2nd Lien Term Loan | 13.77% (4.00% PIK) | SOFR (Q) | 10.00% |  | 12/2028 |  | 5911 | 4434 | (e)(f) |  |
| Tandarts Today Holding B.V. | Netherlands | 1st Lien Term Loan | 8.88% | EURIBOR (Q) | 6.75% |  | 02/2028 |  | 643 | 743 | (e)(f) |  |
| Tandarts Today Holding B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 8.88% | EURIBOR (Q) | 6.75% |  | 02/2028 |  | 3012 | 3481 | (e)(g) |  |
| Team Health Holdings, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (S) | 4.50% |  | 06/2028 |  | 12406 | 12344 |  |  |
| Therapy Brands Holdings LLC |  | 2nd Lien Term Loan | 10.68% | SOFR (Q) | 6.75% |  | 05/2029 |  | 4334 | 3381 | (e)(f) |  |
| U.S. Urology Partners, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2032 |  |  |  | (e)(g) |  |
| U.S. Urology Partners, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 04/2032 |  | 1497 | 1497 | (e)(f) |  |
| U.S. Urology Partners, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 04/2032 |  | 542 | 542 | (e)(f) |  |
| U.S. Urology Partners, LLC |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 04/2032 |  | 359 | 359 | (e) |  |
| United Digestive MSO Parent, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2029 |  |  |  | (e)(g) |  |
| United Digestive MSO Parent, LLC |  | 1st Lien Term Loan | 9.44% | SOFR (Q) | 5.75% |  | 03/2029 |  | 3074 | 3074 | (e)(f) |  |
| United Digestive MSO Parent, LLC |  | 1st Lien Delay Draw Term Loan | 9.44% | SOFR (Q) | 5.75% |  | 03/2029 |  | 829 | 829 | (e) |  |
| United Digestive MSO Parent, LLC |  | 1st Lien Delay Draw Term Loan | 9.40% | SOFR (Q) | 5.75% |  | 03/2029 |  | 571 | 572 | (e)(g) |  |
| Vetopia ApS | Denmark | 1st Lien Delay Draw Term Loan | 7.00% (2.45% PIK) | EURIBOR (S) | 4.50% |  | 01/2029 |  | 281 | 325 | (e)(g) |  |
| VetPartners Group Limited | United Kingdom | 1st Lien Term Loan | 9.78% (1.90% PIK) | SONIA (S) | 5.78% |  | 09/2032 |  | £20947 | 27725 | (e) |  |
| VetPartners Group Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 9.23% | SONIA (S) | 5.50% |  | 09/2032 |  | £804 | 1065 | (e)(g) |  |
| VPP Intermediate Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2027 |  |  |  | (e)(g) |  |
| VPP Intermediate Holdings, LLC |  | 1st Lien Term Loan | 9.52% | SOFR (M) | 5.75% |  | 12/2027 |  | 1514 | 1514 | (e)(f) |  |
| VPP Intermediate Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 9.47% | SOFR (M) | 5.75% |  | 12/2027 |  | 3333 | 3332 | (e)(f) |  |
| VPP Intermediate Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.92% | SOFR (M) | 5.25% |  | 12/2027 |  | 1003 | 1003 | (e)(g) |  |
| Waystar Technologies, Inc. |  | 1st Lien Term Loan | 5.67% | SOFR (M) | 2.00% |  | 10/2029 |  | 4673 | 4656 | (e)(f) |  |
| Witherslack Bidco Limited | United Kingdom | 1st Lien Term Loan | 10.53% | SONIA (Q) | 6.67% |  | 08/2028 |  | £5702 | 7547 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Witherslack Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.53% (2.00% PIK) | SONIA (Q) | 6.67% |  | 08/2028 |  | £7280 | 9636 | (e)(g) |  |
| WSHP FC Acquisition LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2028 |  |  |  | (e)(g) |  |
| WSHP FC Acquisition LLC |  | 1st Lien Term Loan | 12.00% PIK |  |  |  | 03/2030 |  | 6878 | 5777 | (e)(f) |  |
| WSHP FC Acquisition LLC |  | 1st Lien Term Loan | 11.70% (5.00% PIK) | SOFR (Q) | 8.00% |  | 04/2030 |  | 21779 | 21779 | (e)(f) |  |
| ZocDoc, Inc. |  | 1st Lien Term Loan | 8.91% | SOFR (Q) | 5.25% |  | 07/2030 |  | 2394 | 2393 | (e)(f) |  |
| ZocDoc, Inc. |  | 1st Lien Term Loan | 7.16% | SOFR (Q) | 3.50% |  | 07/2030 |  | 1 | 1 | (e) |  |
| ZocDoc, Inc. |  | 1st Lien Delay Draw Term Loan | 8.91% | SOFR (Q) | 5.25% |  | 07/2030 |  | 61 | 61 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 649426 |  | 13.15% |
| **Household and Personal Products** | **Household and Personal Products** | **Household and Personal Products** |  |  |  |  |  |  |  |  |  |  |
| Beacon Wellness Brands, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 12/2027 |  |  |  | (e)(g) |  |
| Beacon Wellness Brands, Inc. |  | 1st Lien Term Loan | 12.77% (1.25% PIK) | SOFR (M) | 9.00% |  | 12/2027 |  | 1529 | 1453 | (e)(f) |  |
| Foundation Consumer Brands, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 02/2029 |  |  |  | (e)(g) |  |
| Foundation Consumer Brands, LLC |  | 1st Lien Term Loan | 8.80% | SOFR (Q) | 5.00% |  | 02/2029 |  | 13429 | 13429 | (e)(f) |  |
| pH Beauty Holdings III, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2027 |  |  |  | (e)(g) |  |
| pH Beauty Holdings III, Inc. |  | 1st Lien Term Loan | 8.65% | SOFR (Q) | 5.00% |  | 09/2027 |  | 1740 | 1740 | (e)(f) |  |
| Premier Specialties, Inc. |  | 1st Lien Revolving Loan | 10.77% | SOFR (M) | 7.00% |  | 08/2027 |  | 385 | 347 | (e)(g) |  |
| Premier Specialties, Inc. |  | 1st Lien Term Loan | 10.77% | SOFR (M) | 7.00% |  | 08/2027 |  | 3083 | 2775 | (e)(f) |  |
| Silk Holdings III LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Silk Holdings III LLC |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 12/2032 |  | 11465 | 11350 | (e)(f) |  |
| TCI Buyer LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2030 |  |  |  | (e)(g) |  |
| TCI Buyer LLC |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 11/2030 |  | 12256 | 12256 | (e)(f) |  |
| TCI Buyer LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 11/2030 |  | 624 | 624 | (e)(g) |  |
| WU Holdco, Inc. |  | 1st Lien Revolving Loan | 8.45% | SOFR (Q) | 4.75% |  | 04/2032 |  | 28 | 28 | (e)(g) |  |
| WU Holdco, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 04/2032 |  | 1460 | 1460 | (e)(f) |  |
| WU Holdco, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 04/2032 |  |  |  | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 45462 |  | 0.92% |
| **Insurance** |  |  |  |  |  |  |  |  |  |  |  |  |
| 15484880 Canada Inc. | Canada | 1st Lien Revolving Loan |  |  |  |  | 04/2031 |  |  |  | (e)(g) |  |
| 15484880 Canada Inc. | Canada | 1st Lien Term Loan | 7.83% | CORRA (Q) | 5.25% |  | 04/2031 |  | 4311 | 3099 | (e)(f) |  |
| 15484880 Canada Inc. | Canada | 1st Lien Delay Draw Term Loan | 7.83% | CORRA (M) | 5.25% |  | 04/2031 |  | 929 | 668 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Alfred AcquiCo B.V. | Netherlands | 1st Lien Term Loan | 7.70% | EURIBOR (B) | 5.75% |  | 09/2029 |  | 1719 | 1987 | (e)(f) |  |
| AQ Sunshine, Inc. |  | 1st Lien Revolving Loan | 8.70% | SOFR (Q) | 5.00% |  | 07/2030 |  | 529 | 529 | (e)(g) |  |
| AQ Sunshine, Inc. |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 07/2031 |  | 14566 | 14566 | (e)(f) |  |
| AQ Sunshine, Inc. |  | 1st Lien Delay Draw Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 07/2031 |  | 5496 | 5496 | (e)(g) |  |
| Ardonagh Midco 3 Limited | Australia | 1st Lien Term Loan | 6.37% | SOFR (S) | 2.75% |  | 02/2031 |  | 27679 | 27004 |  |  |
| Bellwether Buyer, L.L.C. |  | 1st Lien Revolving Loan | 8.18% | SOFR (M) | 4.50% |  | 04/2032 |  | 118 | 118 | (e)(g) |  |
| Bellwether Buyer, L.L.C. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 04/2032 |  | 2097 | 2097 | (e)(f) |  |
| Bellwether Buyer, L.L.C. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 04/2032 |  |  |  | (e)(g) |  |
| Broadstreet Partners Group, LLC |  | 1st Lien Term Loan | 6.17% | SOFR (M) | 2.50% |  | 06/2031 |  | 9741 | 9489 | (f) |  |
| Captive Resources Midco, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 07/2028 |  |  |  | (e)(g) |  |
| Captive Resources Midco, LLC |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 07/2029 |  | 2353 | 2353 | (e)(f) |  |
| CFCo, LLC |  | 1st Lien Term Loan |  |  |  |  | 09/2038 |  | 3231 |  | (e)(i) |  |
| Daylight Beta Parent LLC |  | 1st Lien Term Loan |  |  |  |  | 09/2033 |  | 2330 | 192 | (e)(i) |  |
| Diamond Mezzanine 24 LLC |  | 1st Lien Revolving Loan | 8.17% | SOFR (Q) | 4.50% |  | 10/2030 |  | 321 | 321 | (e)(g) |  |
| Diamond Mezzanine 24 LLC |  | 1st Lien Term Loan | 8.17% | SOFR (Q) | 4.50% |  | 10/2030 |  | 6034 | 6034 | (e)(f) |  |
| DOXA Insurance Holdings LLC |  | 1st Lien Revolving Loan | 8.20% | SOFR (Q) | 4.50% |  | 12/2029 |  | 60 | 60 | (e)(g) |  |
| DOXA Insurance Holdings LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 12/2030 |  | 1317 | 1317 | (e)(f) |  |
| DOXA Insurance Holdings LLC |  | 1st Lien Delay Draw Term Loan | 8.19% | SOFR (Q) | 4.50% |  | 12/2030 |  | 2744 | 2744 | (e)(g) |  |
| Europa Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.47% | SONIA (S) | 5.50% |  | 10/2032 |  | £12650 | 16744 | (e) |  |
| Europa Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 9.25% | SONIA (Q) | 5.50% |  | 10/2032 |  | £258 | 342 | (e)(g) |  |
| Forza Insurance Holdings, LLC |  | 1st Lien Term Loan | 9.45% | SOFR (Q) | 5.75% |  | 02/2030 |  | 5516 | 5516 | (e)(f) |  |
| Foundation Risk Partners, Corp. |  | 1st Lien Revolving Loan | 8.45% | SOFR (Q) | 4.75% |  | 10/2029 |  | 721 | 721 | (e)(g) |  |
| Foundation Risk Partners, Corp. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 10/2030 |  | 18664 | 18664 | (e)(f) |  |
| Foundation Risk Partners, Corp. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 10/2030 |  | 21598 | 21598 | (e)(f) |  |
| Galway Borrower LLC |  | 1st Lien Revolving Loan | 8.20% | SOFR (Q) | 4.50% |  | 09/2028 |  | 643 | 637 | (e)(g) |  |
| Galway Borrower LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 09/2028 |  | 15429 | 15275 | (e)(f) |  |
| Galway Borrower LLC |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 09/2028 |  | 771 | 763 | (e)(g) |  |
| Gestion ABS Bidco Inc./ABS Bidco Holdings Inc. | Canada | 1st Lien Revolving Loan |  |  |  |  | 03/2031 |  |  |  | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Gestion ABS Bidco Inc./ABS Bidco Holdings Inc. | Canada | 1st Lien Term Loan | 7.31% | CORRA (Q) | 5.00% |  | 03/2031 |  | 641 | 461 | (e) |  |
| Gestion ABS Bidco Inc./ABS Bidco Holdings Inc. | Canada | 1st Lien Delay Draw Term Loan | 7.30% | CDOR (Q) | 5.00% |  | 03/2031 |  | 53 | 38 | (e)(g) |  |
| HIG Finance 2 Limited | United Kingdom | 1st Lien Term Loan | 6.42% | SOFR (M) | 2.75% |  | 02/2031 |  | 3451 | 3338 |  |  |
| HIG OPERATIONS HOLDINGS, INC. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 06/2031 |  | 1041 | 1041 | (e) |  |
| HIG OPERATIONS HOLDINGS, INC. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 06/2031 |  |  |  | (e)(g) |  |
| High Street Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 04/2027 |  |  |  | (e)(g) |  |
| High Street Buyer, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 04/2028 |  | 4579 | 4579 | (e)(f) |  |
| High Street Buyer, Inc. |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 04/2028 |  | 30563 | 30563 | (e)(f) |  |
| High Street Buyer, Inc. |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 04/2028 |  | 86 | 86 | (e)(g) |  |
| Inszone Mid, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2029 |  |  |  | (e)(g) |  |
| Inszone Mid, LLC |  | 1st Lien Term Loan | 8.95% | SOFR (Q) | 5.25% |  | 11/2029 |  | 2022 | 2022 | (e) |  |
| Inszone Mid, LLC |  | 1st Lien Delay Draw Term Loan | 8.95% | SOFR (Q) | 5.25% |  | 11/2029 |  | 11418 | 11418 | (e) |  |
| Inszone Mid, LLC |  | 1st Lien Delay Draw Term Loan |  | SOFR (Q) | 4.50% |  | 11/2029 |  | 65 | 65 | (e)(g) |  |
| King Risk Partners, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2031 |  |  |  | (e)(g) |  |
| King Risk Partners, LLC |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 04/2031 |  | 1194 | 1194 | (e)(f) |  |
| King Risk Partners, LLC |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (M) | 4.50% |  | 04/2031 |  | 762 | 762 | (e)(g) |  |
| Knight AcquireCo, LLC |  | 1st Lien Term Loan | 8.16% | SOFR (Q) | 4.50% |  | 11/2032 |  | 2078 | 2058 | (e)(f) |  |
| Knight AcquireCo, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 11/2032 |  |  |  | (e)(g) |  |
| Koala Investment Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2032 |  |  |  | (e)(g) |  |
| Koala Investment Holdings, Inc. |  | 1st Lien Term Loan | 7.95% | SOFR (Q) | 4.25% |  | 08/2032 |  | 938 | 919 | (e)(f) |  |
| Koala Investment Holdings, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 08/2032 |  |  |  | (e)(g) |  |
| Lucida Broking Holdings Limited | United Kingdom | 1st Lien Term Loan |  |  |  |  | 06/2026 |  | £1477 | 1722 | (e)(f)(i) |  |
| Maximus BidCo AB | Sweden | 1st Lien Term Loan | 7.28% | STIBOR (Q) | 5.31% |  | 04/2032 |  | 154830 | 16355 | (e) |  |
| Maximus BidCo AB | Sweden | 1st Lien Delay Draw Term Loan | 5.37% |  |  |  | 04/2032 |  | 9792 | 1035 | (e)(g) |  |
| Oakbridge Insurance Agency LLC |  | 1st Lien Revolving Loan | 8.42% | SOFR (M) | 4.75% |  | 11/2029 |  | 26 | 26 | (e)(g) |  |
| Oakbridge Insurance Agency LLC |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 11/2029 |  | 1264 | 1264 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Oakbridge Insurance Agency LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 11/2029 |  | 611 | 610 | (e) |  |
| Oakbridge Insurance Agency LLC |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (M) | 5.00% |  | 11/2029 |  | 500 | 500 | (e)(g) |  |
| Optio Group Limited | United Kingdom | 1st Lien Term Loan | 10.48% | SONIA (S) | 6.75% |  | 03/2032 |  | £254 | 337 | (e) |  |
| Optio Group Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.15% | SOFR (S) | 6.50% |  | 03/2032 |  | £1238 | 1638 | (e)(g)(h) |  |
| Optio Group Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 8.91% | EURIBOR (Q) | 6.75% |  | 03/2032 |  | £198 | 261 | (e) |  |
| Patriot Growth Insurance Services, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 10/2028 |  |  |  | (e)(g) |  |
| Patriot Growth Insurance Services, LLC |  | 1st Lien Term Loan | 8.85% | SOFR (Q) | 5.00% |  | 10/2028 |  | 1734 | 1716 | (e)(f) |  |
| People Corporation | Canada | 1st Lien Revolving Loan | 7.57% | CORRA (Q) | 5.00% |  | 02/2031 |  | 1205 | 866 | (e)(g) |  |
| People Corporation | Canada | 1st Lien Term Loan | 7.57% | CORRA (Q) | 5.00% |  | 02/2031 |  | 8584 | 6171 | (e)(f) |  |
| People Corporation | Canada | 1st Lien Delay Draw Term Loan | 7.58% | CORRA (Q) | 5.00% |  | 02/2028 |  | 4620 | 3321 | (e)(g) |  |
| People Corporation | Canada | 1st Lien Delay Draw Term Loan | 7.57% | CORRA (Q) | 5.00% |  | 02/2031 |  | 13855 | 9960 | (e)(f)(g) |  |
| People Corporation | Canada | 1st Lien Delay Draw Term Loan | 7.59% | CORRA (Y) | 5.00% |  | 02/2031 |  | 369 | 265 | (e)(g) |  |
| Platinum Credit Bidco Limited | Jersey | 1st Lien Term Loan | 9.98% | SONIA (S) | 6.25% |  | 11/2029 |  | £27960 | 37008 | (e)(f) |  |
| Platinum Credit Bidco Limited | Jersey | 1st Lien Term Loan | 9.98% | SONIA (S) | 6.25% |  | 11/2029 |  | £8917 | 11802 | (e) |  |
| Roman New Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.65% | SONIA (S) | 5.92% |  | 12/2028 |  | £994 | 1316 | (e) |  |
| Roman New Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 9.65% | SONIA (S) | 5.92% |  | 12/2028 |  | £124 | 164 | (e)(g) |  |
| Sabseg Group, S.L. | Spain | 1st Lien Term Loan | 8.56% | EURIBOR (Q) | 6.43% |  | 04/2029 |  | 2736 | 3162 | (e)(f) |  |
| Sabseg Group, S.L. | Spain | 1st Lien Delay Draw Term Loan | 8.56% | EURIBOR (Q) | 6.43% |  | 04/2029 |  | 17188 | 19867 | (e) |  |
| Sabseg Group, S.L. | Spain | 1st Lien Delay Draw Term Loan | 8.64% | EURIBOR (Q) | 6.50% |  | 04/2029 |  | 57 | 66 | (e)(g) |  |
| SageSure Holdings, LLC |  | 1st Lien Term Loan | 8.53% | SOFR (M) | 4.75% |  | 01/2030 |  | 27909 | 27908 | (e)(f) |  |
| SageSure Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.53% | SOFR (M) | 4.75% |  | 01/2030 |  | 8631 | 8631 | (e)(f) |  |
| SageSure Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.53% | SOFR (M) | 4.75% |  | 01/2030 |  | 7461 | 7461 | (e)(g) |  |
| SG Acquisition, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 04/2030 |  |  |  | (e)(g) |  |
| SG Acquisition, Inc. |  | 1st Lien Term Loan | 8.40% | SOFR (Q) | 4.75% |  | 04/2030 |  | 5264 | 5264 | (e)(f) |  |
| SIG Parent Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2031 |  |  |  | (e)(g) |  |
| SIG Parent Holdings, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 08/2031 |  | 3734 | 3734 | (e)(f) |  |
| SIG Parent Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 08/2031 |  | 1192 | 1192 | (e)(g) |  |
| Spitfire Bidco Limited | United Kingdom | 1st Lien Term Loan | 10.66% | SOFR (S) | 7.00% |  | 09/2029 |  | 15341 | 15341 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Spitfire Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.89% | SOFR (S) | 7.25% |  | 09/2029 |  | £6736 | 8915 | (e) |  |
| Truist Insurance Holdings, LLC |  | 1st Lien Revolving Loan | 6.93% | SOFR (Q) | 3.25% |  | 05/2029 |  | 317 | 311 | (e)(g) |  |
| Truist Insurance Holdings, LLC |  | 1st Lien Term Loan | 6.45% | SOFR (Q) | 2.75% |  | 05/2031 |  | 138 | 136 |  |  |
| USI, Inc. |  | 1st Lien Term Loan | 5.94% | SOFR (Q) | 2.25% |  | 11/2029 |  | 2699 | 2691 | (f) |  |
| USI, Inc. |  | 1st Lien Term Loan | 5.92% | SOFR (Q) | 2.25% |  | 09/2030 |  | 4827 | 4809 | (f) |  |
| World Insurance Associates, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2030 |  |  |  | (e)(g) |  |
| World Insurance Associates, LLC |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 04/2030 |  | 1837 | 1819 | (e) |  |
| World Insurance Associates, LLC |  | 1st Lien Delay Draw Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 04/2030 |  | 436 | 432 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 424954 |  | 8.60% |
| **Materials** |  |  |  |  |  |  |  |  |  |  |  |  |
| Adonis Acquisition Holdings LLC |  | 1st Lien Revolving Loan | 8.77% | SOFR (Q) | 5.00% |  | 08/2028 |  | 1 | 1 | (e)(g) |  |
| Adonis Acquisition Holdings LLC |  | 1st Lien Term Loan | 9.30% PIK | SOFR (Q) | 5.50% |  | 02/2030 |  | 2954 | 2954 | (e) |  |
| Adonis Acquisition Holdings LLC |  | 1st Lien Delay Draw Term Loan | 11.25% PIK | PRIME (Q) | 4.50% |  | 02/2030 |  | 1057 | 1057 | (e) |  |
| Adonis Acquisition Holdings LLC |  | 1st Lien Delay Draw Term Loan | 9.30% PIK | SOFR (Q) | 5.50% |  | 02/2030 |  | 571 | 571 | (e)(g) |  |
| AP Adhesives Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2031 |  |  |  | (e)(g) |  |
| AP Adhesives Holdings, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 04/2032 |  | 3611 | 3575 | (e)(f) |  |
| AP Adhesives Holdings, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 04/2032 |  |  |  | (e)(g) |  |
| Aruba Investments, Inc. |  | 2nd Lien Term Loan | 11.52% | SOFR (M) | 7.75% |  | 11/2028 |  | 4038 | 3619 |  |  |
| ASP-r-pac Acquisition Co LLC |  | 1st Lien Revolving Loan | 9.78% | SOFR (M) | 6.00% |  | 12/2027 |  | 789 | 765 | (e)(g) |  |
| ASP-r-pac Acquisition Co LLC |  | 1st Lien Term Loan | 9.93% | SOFR (Q) | 6.00% |  | 12/2027 |  | 6462 | 6268 | (e)(f) |  |
| Bulab Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2032 |  |  |  | (e)(g) |  |
| Bulab Holdings, Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 07/2032 |  | 20866 | 20866 | (e)(f) |  |
| Bulab Holdings, Inc. |  | 1st Lien Term Loan | 6.64% | EURIBOR (B) | 4.75% |  | 07/2032 |  | 3617 | 4181 | (e)(f) |  |
| Bulab Holdings, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2032 |  |  |  | (e)(g) |  |
| BW Holding, Inc. |  | 1st Lien Term Loan | 10.14% | SOFR (Q) | 6.50% |  | 12/2030 |  | 1725 | 1706 |  |  |
| BW Holding, Inc. |  | 1st Lien Term Loan | 8.29% | SOFR (Q) | 4.50% |  | 12/2030 |  | 6887 | 3330 |  |  |
| Flexsys Cayman Holdings, LP |  | 1st Lien Term Loan | 9.92% | SOFR (M) | 6.25% |  | 08/2029 |  | 3931 | 2113 |  |  |
| Flexsys Cayman Holdings, LP |  | 1st Lien Term Loan | 9.17% | SOFR (M) | 5.25% |  | 08/2029 |  | 8703 | 529 |  |  |
| Meyer Laboratory, LLC |  | 1st Lien Revolving Loan | 10.45% (3.75% PIK) | SOFR (Q) | 6.75% |  | 02/2030 |  | 45 | 43 | (e)(g) |  |
| Meyer Laboratory, LLC |  | 1st Lien Term Loan | 10.45% (3.75% PIK) | SOFR (Q) | 6.75% |  | 02/2030 |  | 667 | 634 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Meyer Laboratory, LLC |  | 1st Lien Delay Draw Term Loan | 10.45% (3.75% PIK) | SOFR (Q) | 6.75% |  | 02/2030 |  |  | 119 | 113 | (e) |  |
| NCP-MSI Buyer, Inc. |  | 1st Lien Revolving Loan | 7.45% | SOFR (Q) | 3.75% |  | 03/2031 |  |  | 739 | 739 | (e)(g) |  |
| NCP-MSI Buyer, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 03/2031 |  |  | 3852 | 3853 | (e)(f) |  |
| NCP-MSI Buyer, Inc. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 03/2031 |  |  | 1153 | 1153 | (e)(g) |  |
| Nelipak Holding Company |  | 1st Lien Revolving Loan | 9.18% | SOFR (M) | 5.50% |  | 03/2031 |  |  | 87 | 86 | (e)(g) |  |
| Nelipak Holding Company |  | 1st Lien Term Loan | 9.20% | SOFR (Q) | 5.50% |  | 03/2031 |  |  | 1165 | 1154 | (e)(f) |  |
| Nelipak Holding Company |  | 1st Lien Term Loan | 7.63% | EURIBOR (Q) | 5.50% |  | 03/2031 |  | € | 1862 | 2131 | (e)(f) |  |
| Nelipak Holding Company |  | 1st Lien Delay Draw Term Loan | 9.20% | SOFR (Q) | 5.50% |  | 03/2031 |  |  | 235 | 233 | (e)(g) |  |
| Novipax Buyer, L.L.C. |  | 1st Lien Term Loan | 12.02% (1.00% PIK) | SOFR (M) | 8.25% |  | 12/2026 |  |  | 4323 | 4323 | (e)(f) |  |
| Plaskolite PPC Intermediate II LLC |  | 1st Lien Revolving Loan | 10.65% | SOFR (Q) | 7.00% |  | 02/2030 |  |  | 658 | 625 | (e)(g) |  |
| Plaskolite PPC Intermediate II LLC |  | 1st Lien Term Loan | 11.64% (4.00% PIK) | SOFR (Q) | 8.00% |  | 05/2030 |  |  | 35108 | 33353 | (e)(f) |  |
| Precision Concepts Parent Inc. |  | 1st Lien Revolving Loan | 8.42% | SOFR (Q) | 4.75% |  | 08/2032 |  |  | 41 | 40 | (e)(g) |  |
| Precision Concepts Parent Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 08/2032 |  |  | 914 | 905 | (e)(f) |  |
| Precision Concepts Parent Inc. |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 08/2032 |  |  | 243 | 241 | (e) |  |
| Pregis TopCo LLC |  | 1st Lien Term Loan | 7.67% | SOFR (M) | 4.00% |  | 02/2029 |  |  | 6340 | 6327 | (f) |  |
| Pretium PKG Holdings, Inc. |  | 1st Lien Term Loan | 8.92% | SOFR (Q) | 5.25% |  | 03/2031 |  |  | 2574 | 2559 |  |  |
| Pretium PKG Holdings, Inc. |  | 1st Lien Term Loan | 9.42% | SOFR (Q) | 5.75% |  | 03/2032 |  |  | 2497 | 2091 |  |  |
| Reagent Chemical & Research, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2030 |  |  |  |  | (e)(g) |  |
| Reagent Chemical & Research, LLC |  | 1st Lien Term Loan | 8.92% | SOFR (M) | 5.25% |  | 04/2031 |  |  | 2531 | 2531 | (e)(f) |  |
| Sterilex LLC |  | 1st Lien Revolving Loan | 7.44% | SOFR (Q) | 3.75% |  | 09/2030 |  |  | 1 |  | (e)(g) |  |
| Sterilex LLC |  | 1st Lien Term Loan | 8.94% | SOFR (Q) | 5.25% |  | 09/2030 |  |  | 219 | 219 | (e)(f) |  |
| Sterilex LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2030 |  |  |  |  | (e)(g) |  |
| Trident TPI Holdings, Inc. |  | 1st Lien Term Loan | 7.45% | SOFR (Q) | 3.75% |  | 09/2028 |  |  | 10399 | 9832 | (f) |  |
|  |  |  |  |  |  |  |  |  |  |  | 124720 |  | 2.52% |
| **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** |  |  |  |  |  |  |  |  |  |  |
| 1261229 B.C. Ltd. | Canada | 1st Lien Term Loan | 9.92% | SOFR (M) | 6.25% |  | 10/2030 |  |  | 33275 | 32064 |  |  |
| Alcami Corporation |  | 1st Lien Revolving Loan | 10.78% | SOFR (M) | 7.00% |  | 12/2028 |  |  | 9 | 8 | (e)(g) |  |
| Alcami Corporation |  | 1st Lien Term Loan | 10.82% | SOFR (Q) | 7.00% |  | 12/2028 |  |  | 199 | 199 | (e) |  |
| Alcami Corporation |  | 1st Lien Delay Draw Term Loan | 10.82% | SOFR (M) | 7.00% |  | 12/2028 |  |  | 15 | 15 | (e) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Artemis BidCo 2 LLC |  | 1st Lien Revolving Loan | 7.45% | SOFR (Q) | 3.75% |  | 10/2031 |  | 1 | 1 | (e)(g) |  |
| Artemis BidCo 2 LLC |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 10/2031 |  | 697 | 690 | (e)(f) |  |
| Artemis BidCo 2 LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 10/2031 |  |  |  | (e)(g) |  |
| ASPIRE BIDCO LIMITED | Jersey | 1st Lien Term Loan | 10.25% (2.00% PIK) | SONIA (Q) | 6.40% |  | 09/2028 |  | £7777 | 10294 | (e)(f) |  |
| ASPIRE BIDCO LIMITED | Jersey | 1st Lien Delay Draw Term Loan | 10.25% (2.00% PIK) | SONIA (Q) | 6.40% |  | 09/2028 |  | £1523 | 2016 | (e)(g) |  |
| Avia Pharma AB | Sweden | 1st Lien Term Loan |  |  |  |  | 02/2033 |  | 9807 | 1036 | (e) |  |
| Avia Pharma AB | Sweden | 1st Lien Delay Draw Term Loan |  |  |  |  | 02/2033 |  | 3120 | 330 | (e)(g)(h) |  |
| Bamboo US BidCo LLC |  | 1st Lien Revolving Loan |  |  |  |  | 10/2029 |  |  |  | (e)(g) |  |
| Bamboo US BidCo LLC |  | 1st Lien Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 09/2030 |  | 2635 | 2635 | (e) |  |
| Bamboo US BidCo LLC |  | 1st Lien Term Loan | 7.03% | EURIBOR (Q) | 5.00% |  | 09/2030 |  | 2110 | 2439 | (e) |  |
| Bamboo US BidCo LLC |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 09/2030 |  | 977 | 977 | (e) |  |
| Bamboo US BidCo LLC |  | 1st Lien Delay Draw Term Loan | 8.67% | SOFR (M) | 5.00% |  | 09/2030 |  | 1385 | 1385 | (e) |  |
| Cambrex Corporation |  | 1st Lien Revolving Loan | 8.17% | SOFR (M) | 4.50% |  | 03/2032 |  | 1346 | 1346 | (e)(g) |  |
| Cambrex Corporation |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 03/2032 |  | 36362 | 36362 | (e)(f) |  |
| Cambrex Corporation |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (M) | 4.50% |  | 03/2032 |  | 5454 | 5454 | (e) |  |
| Cobalt Buyer Sub, Inc. |  | 1st Lien Revolving Loan | 9.42% | SOFR (Q) | 5.75% |  | 10/2027 |  | 896 | 815 | (e)(g) |  |
| Cobalt Buyer Sub, Inc. |  | 1st Lien Term Loan | 9.42% | SOFR (Q) | 5.75% |  | 10/2028 |  | 10637 | 9680 | (e)(f) |  |
| Cobalt Buyer Sub, Inc. |  | 1st Lien Delay Draw Term Loan | 9.42% | SOFR (Q) | 5.75% |  | 10/2028 |  | 2385 | 2170 | (e)(f) |  |
| CoreRx, Inc. |  | 1st Lien Revolving Loan | 7.70% | SOFR (Q) | 4.00% |  | 12/2030 |  | 1 | 1 | (e)(g) |  |
| CoreRx, Inc. |  | 1st Lien Term Loan | 10.95% | SOFR (Q) | 7.25% |  | 12/2030 |  | 350 | 342 | (e)(f) |  |
| Creek Parent, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 12/2031 |  |  |  | (e)(g) |  |
| Creek Parent, Inc. |  | 1st Lien Term Loan | 8.67% | SOFR (M) | 5.00% |  | 12/2031 |  | 41708 | 41708 | (e)(f) |  |
| Echo Senior Finco, LLC | United Kingdom | 1st Lien Revolving Loan |  |  |  |  | 05/2026 |  |  |  | (e)(g)(h) |  |
| Echo Senior Finco, LLC | United Kingdom | 1st Lien Term Loan | 9.20% | SOFR (Q) | 5.50% |  | 12/2030 |  | 2902 | 2902 | (e) |  |
| Echo Senior Finco, LLC | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2030 |  |  |  | (e)(g) |  |
| Gula Buyer Inc. |  | 1st Lien Term Loan | 8.18% | SOFR (M) | 4.50% |  | 10/2031 |  | 7904 | 7904 | (e)(f) |  |
| MASCO GROUP S.P.A. | Italy | 1st Lien Delay Draw Term Loan |  |  |  |  | 10/2031 |  |  |  | (e)(g) |  |
| Moderna, Inc. |  | 1st Lien Term Loan | 9.20% | SOFR (Q) | 5.50% |  | 11/2030 |  | 32351 | 32027 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Moderna, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 11/2030 |  |  |  | (e)(g) |  |
| NAMSA Holdco, LLC |  | 1st Lien Revolving Loan | 6.92% | SOFR (Q) | 3.25% |  | 03/2033 |  | 1 |  | (e)(g) |  |
| NAMSA Holdco, LLC |  | 1st Lien Term Loan | 8.38% | SOFR (Q) | 4.75% |  | 03/2033 |  | 7166 | 7094 | (e)(f) |  |
| NAMSA Holdco, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 03/2033 |  |  |  | (e)(g) |  |
| NMC Skincare Intermediate Holdings II, LLC |  | 1st Lien Revolving Loan | 10.31% | SOFR (Q) | 6.50% |  | 10/2028 |  | 181 | 171 | (e)(g) |  |
| NMC Skincare Intermediate Holdings II, LLC |  | 1st Lien Term Loan | 10.30% (1.50% PIK) | SOFR (Q) | 6.50% |  | 10/2028 |  | 2081 | 1977 | (e)(f) |  |
| NMC Skincare Intermediate Holdings II, LLC |  | 1st Lien Delay Draw Term Loan | 10.30% (1.50% PIK) | SOFR (Q) | 6.50% |  | 10/2028 |  | 586 | 557 | (e)(f) |  |
| Solar Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 8.63% | EURIBOR (Q) | 6.50% |  | 11/2029 |  | £2850 | 3772 | (e) |  |
| Solar Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 8.63% | EURIBOR (Q) | 6.50% |  | 11/2029 |  | £294 | 389 | (e)(g) |  |
| Verista, Inc. |  | 1st Lien Revolving Loan | 9.79% | SOFR (M) | 6.00% |  | 02/2027 |  | 267 | 232 | (e)(g) |  |
| Verista, Inc. |  | 1st Lien Term Loan | 10.79% (1.00% PIK) | SOFR (M) | 7.00% |  | 02/2027 |  | 8389 | 7299 | (e)(f) |  |
| Verista, Inc. |  | 1st Lien Delay Draw Term Loan | 10.79% (1.00% PIK) | SOFR (M) | 7.00% |  | 02/2027 |  | 1808 | 1573 | (e)(f) |  |
|  |  |  |  |  |  |  |  |  |  | 217864 |  | 4.41% |
| **Real Estate Management and Development** | **Real Estate Management and Development** | **Real Estate Management and Development** |  |  |  |  |  |  |  |  |  |  |
| 285 Mezz LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2025 |  | 4972 | 2825 | (e)(i) |  |
| 285 Schermerhorn LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2026 |  | 12082 | 7106 | (e)(g)(i) |  |
| C Block Development LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 02/2029 |  |  |  | (e)(g) |  |
| Odevo AB | Sweden | 1st Lien Term Loan | 7.36% | EURIBOR (S) | 5.25% |  | 12/2030 |  | 3328 | 3846 | (e) |  |
| Odevo AB | Sweden | 1st Lien Term Loan | 9.01% | SONIA (S) | 5.25% |  | 12/2030 |  | £9498 | 12571 | (e) |  |
| Odevo AB | Sweden | 1st Lien Term Loan | 7.21% | STIBOR (S) | 5.25% |  | 12/2030 |  | 78160 | 8256 | (e)(f) |  |
| Odevo AB | Sweden | 1st Lien Term Loan | 8.96% | SOFR (S) | 5.25% |  | 12/2030 |  | 8731 | 8732 | (e) |  |
| Odevo AB | Sweden | 1st Lien Delay Draw Term Loan | 8.49% | SONIA (M) | 4.75% |  | 12/2030 |  | 20 | 23 | (e)(g) |  |
| Oiva Isannointi Group Oy | Finland | 1st Lien Term Loan | 8.00% | EURIBOR (Q) | 6.00% |  | 08/2031 |  | 272 | 315 | (e) |  |
| Oiva Isannointi Group Oy | Finland | 1st Lien Delay Draw Term Loan |  | EURIBOR (Q) | 6.00% |  | 08/2031 |  | 5 | 5 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 43679 |  | 0.88% |
| **Software and Services** | **Software and Services** |  |  |  |  |  |  |  |  |  |  |  |
| Abingdon Global Acquisitions Limited | United Kingdom | 1st Lien Term Loan | 8.15% | EURIBOR (S) | 6.00% |  | 12/2031 |  | 209 | 209 | (e) |  |
| Abingdon Global Acquisitions Limited | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2031 |  |  |  | (e)(g) |  |
| Access CIG, LLC |  | 1st Lien Term Loan | 7.70% | SOFR (Q) | 4.00% |  | 08/2030 |  | 13849 | 12458 | (f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| ACP Avenu Buyer, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 10/2029 |  |  |  |  | (e)(g) |  |
| ACP Avenu Buyer, LLC |  | 1st Lien Term Loan | 8.66% | SOFR (Q) | 5.00% |  | 10/2029 |  |  | 8482 | 8482 | (e)(f) |  |
| ACP Avenu Buyer, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 10/2029 |  |  |  |  | (e)(g) |  |
| Acta GroupCo B.V. | Netherlands | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  | € |  |  | (e)(g) |  |
| ACTFY Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 05/2030 |  |  |  |  | (e)(g) |  |
| ACTFY Buyer, Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 05/2031 |  |  | 1487 | 1487 | (e)(f) |  |
| ACTFY Buyer, Inc. |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (M) | 4.75% |  | 05/2031 |  |  | 162 | 163 | (e)(g) |  |
| Activate holdings (US) Corp. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2029 |  |  |  |  | (e)(g) |  |
| Activate holdings (US) Corp. |  | 1st Lien Term Loan | 8.95% | SOFR (Q) | 5.25% |  | 07/2030 |  |  | 13138 | 13138 | (e)(f) |  |
| Adonis Bidco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2031 |  |  |  |  | (e)(g) |  |
| Adonis Bidco, Inc. |  | 1st Lien Term Loan | 9.45% (2.88% PIK) | SOFR (Q) | 5.75% |  | 02/2032 |  |  | 51806 | 50770 | (e)(f) |  |
| Adonis Bidco, Inc. |  | 1st Lien Delay Draw Term Loan | 9.20% | SOFR (Q) | 5.50% |  | 02/2032 |  |  | 2413 | 2365 | (e)(g) |  |
| AI Titan Parent, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2031 |  |  |  |  | (e)(g) |  |
| AI Titan Parent, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 08/2031 |  |  | 8946 | 8856 | (e)(f) |  |
| AI Titan Parent, Inc. |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (M) | 4.50% |  | 08/2031 |  |  | 403 | 399 | (e)(g) |  |
| Anaplan, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 06/2028 |  |  |  |  | (e)(g) |  |
| Anaplan, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (Q) | 4.50% |  | 06/2029 |  |  | 7039 | 6968 | (e)(f) |  |
| Apple Bidco Holdings, Inc. |  | 1st Lien Revolving Loan | 8.20% | SOFR (Q) | 4.50% |  | 01/2033 |  |  | 109 | 106 | (e)(g) |  |
| Apple Bidco Holdings, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 01/2033 |  |  | 3401 | 3299 | (e)(f) |  |
| Apple Bidco Holdings, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2033 |  |  |  |  | (e)(g) |  |
| Aptean Acquiror Inc. |  | 1st Lien Revolving Loan | 8.42% | SOFR (Q) | 4.75% |  | 01/2031 |  |  | 85 | 84 | (e)(g) |  |
| Aptean Acquiror Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 01/2031 |  |  | 4371 | 4328 | (e)(f) |  |
| Aptean Acquiror Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2031 |  |  |  |  | (e)(g) |  |
| Archduke Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 12/2032 |  |  |  |  | (e)(g) |  |
| Archduke Buyer, Inc. |  | 1st Lien Term Loan | 9.17% | SOFR (Q) | 5.50% |  | 12/2032 |  |  | 4499 | 4454 | (e)(f) |  |
| Arrow Borrower 2025, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 10/2032 |  |  |  |  | (e)(g) |  |
| Arrow Borrower 2025, Inc. |  | 1st Lien Term Loan | 7.95% | SOFR (Q) | 4.25% |  | 10/2032 |  |  | 515 | 510 | (e)(f) |  |
| Artifact Bidco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2030 |  |  |  |  | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Artifact Bidco, Inc. |  | 1st Lien Term Loan | 7.85% | SOFR (Q) | 4.15% |  | 07/2031 |  | 1154 | 1154 | (e)(f) |  |
| Artifact Bidco, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2031 |  |  |  | (e)(g) |  |
| Aston Bidco (Holding) Limited | Jersey | 1st Lien Term Loan | 9.87% | SONIA (Q) | 6.00% |  | 07/2032 |  | £2155 | 2852 | (e)(f) |  |
| Avaya Inc. |  | 1st Lien Term Loan | 11.17% (7.00% PIK) | SOFR (M) | 7.50% |  | 08/2028 |  | 461 | 409 |  |  |
| Bamboo Health Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 05/2027 |  |  |  | (e)(g) |  |
| Bamboo Health Holdings, LLC |  | 1st Lien Term Loan | 8.52% | SOFR (M) | 4.75% |  | 05/2027 |  | 1419 | 1419 | (e) |  |
| Banyan Software Holdings, LLC |  | 1st Lien Revolving Loan | 9.17% | SOFR (M) | 5.50% |  | 01/2031 |  | 68 | 68 | (e)(g) |  |
| Banyan Software Holdings, LLC |  | 1st Lien Term Loan | 9.17% | SOFR (M) | 5.50% |  | 01/2031 |  | 4720 | 4720 | (e)(f) |  |
| Banyan Software Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 9.17% | SOFR (M) | 5.50% |  | 01/2031 |  | 4933 | 4933 | (e) |  |
| Banyan Software Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.92% | SOFR (M) | 5.25% |  | 01/2031 |  | 2907 | 2906 | (e)(g) |  |
| BCPE Pequod Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2029 |  |  |  | (e)(g) |  |
| BigHand UK Bidco Limited | United Kingdom | 1st Lien Term Loan | 7.50% (2.35% PIK) | SOFR (Q) | 3.87% |  | 06/2030 |  | 1067 | 1067 | (e) |  |
| BigHand UK Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.95% | SONIA (Q) | 6.22% |  | 06/2030 |  | £795 | 1052 | (e) |  |
| BigHand UK Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.71% | SOFR (Q) | 6.08% |  | 06/2030 |  | £245 | 324 | (e) |  |
| Bizzdesign Holding B.V. | Netherlands | 1st Lien Term Loan | 8.63% | EURIBOR (Q) | 6.50% |  | 10/2031 |  | 1000 | 1156 | (e) |  |
| Bizzdesign Holding B.V. | Netherlands | 1st Lien Term Loan | 8.63% | EURIBOR (Q) | 6.50% |  | 10/2031 |  | 1750 | 2023 | (e) |  |
| Bobcat Purchaser, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 06/2030 |  |  |  | (e)(g) |  |
| Bobcat Purchaser, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 06/2030 |  | 2888 | 2888 | (e)(f) |  |
| Bobcat Purchaser, LLC |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 06/2030 |  | 979 | 979 | (e)(f) |  |
| Bottomline Technologies, Inc. and Legal Spend Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 05/2028 |  |  |  | (e)(g) |  |
| Bottomline Technologies, Inc. and Legal Spend Holdings, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 05/2029 |  | 19643 | 19643 | (e)(f) |  |
| Businessolver.com, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Businessolver.com, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 12/2032 |  | 5680 | 5623 | (e)(f) |  |
| Businessolver.com, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Calabrio, Inc. |  | 1st Lien Term Loan | 7.67% | SOFR (Q) | 4.00% |  | 11/2032 |  | 4872 | 3788 |  |  |
| Calculus Acquico Sarl | Luxembourg | 1st Lien Term Loan | 9.92% | SOFR (Q) | 6.25% |  | 05/2032 |  | 600 | 600 | (e) |  |
| Calculus Acquico Sarl | Luxembourg | 1st Lien Term Loan | 8.26% | EURIBOR (Q) | 6.25% |  | 05/2032 |  | 1234 | 1427 | (e) |  |
| Calculus Acquico Sarl | Luxembourg | 1st Lien Delay Draw Term Loan | 8.27% | EURIBOR (Q) | 6.25% |  | 05/2032 |  | 186 | 186 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Capnor Connery Bidco A/S | Denmark | 1st Lien Term Loan | 8.91% (1.75% PIK) | EURIBOR (Q) | 6.90% |  | 10/2030 |  | DKK | 74356 | 11501 | (e) |  |
| Capnor Connery Bidco A/S | Denmark | 1st Lien Delay Draw Term Loan | 8.75% (1.75% PIK) | EURIBOR (Q) | 6.90% |  | 10/2030 |  | DKK | 74209 | 11478 | (e)(g) |  |
| Capnor Connery Bidco A/S | Denmark | 1st Lien Delay Draw Term Loan | 8.20% | EURIBOR (Q) | 6.15% |  | 10/2030 |  | € | 9875 | 11414 | (e)(g) |  |
| Cardinal Parent, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2027 |  |  |  |  | (e)(g) |  |
| Cardinal Parent, Inc. |  | 1st Lien Term Loan | 8.35% | SOFR (Q) | 4.50% |  | 11/2027 |  |  | 4265 | 3956 | (f) |  |
| Cardinal Parent, Inc. |  | 2nd Lien Term Loan | 11.60% | SOFR (Q) | 7.75% |  | 11/2028 |  |  | 10547 | 10020 | (e)(f) |  |
| Cascade Parent Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2030 |  |  |  |  | (e)(g) |  |
| Cascade Parent Inc. |  | 1st Lien Term Loan | 9.42% | SOFR (M) | 5.75% |  | 09/2031 |  |  | 543 | 537 | (e)(f) |  |
| CBTS BORROWER, LLC |  | 1st Lien Term Loan | 14.50% PIK | SOFR (Q) | 10.00% |  | 12/2030 |  |  | 8982 | 9611 | (e) |  |
| CBTS BORROWER, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2030 |  |  |  |  | (e)(g) |  |
| CC Globe Holding II A/S | Denmark | 1st Lien Term Loan |  |  |  |  | 03/2028 |  | DKK | 43366 | 4598 | (e)(f)(i) |  |
| CC Globe Holding II A/S | Denmark | 1st Lien Delay Draw Term Loan |  |  |  |  | 03/2028 |  | DKK | 12687 | 1345 | (e)(i) |  |
| Central Parent Inc. |  | 1st Lien Term Loan | 6.95% | SOFR (Q) | 3.25% |  | 07/2029 |  |  | 14154 | 10051 |  |  |
| CentralSquare Technologies, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2030 |  |  |  |  | (e)(g) |  |
| CentralSquare Technologies, LLC |  | 1st Lien Term Loan | 9.42% | SOFR (M) | 5.75% |  | 04/2030 |  |  | 31117 | 31117 | (e)(f) |  |
| Cloud Software Group, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2029 |  |  |  |  | (e)(g) |  |
| Cloud Software Group, Inc. |  | 1st Lien Term Loan | 6.95% | SOFR (Q) | 3.25% |  | 03/2031 |  |  | 27330 | 24953 | (f) |  |
| Cloud Software Group, Inc. |  | 1st Lien Term Loan | 6.95% | SOFR (Q) | 3.25% |  | 08/2032 |  |  | 35928 | 32765 |  |  |
| Comet Software | France | 1st Lien Term Loan | 4.75% |  |  |  | 11/2032 |  | € | 200 | 231 | (e) |  |
| Comet Software | France | 1st Lien Delay Draw Term Loan | 6.88% | EURIBOR (Q) | 4.75% |  | 11/2032 |  | € | 528 | 610 | (e)(g) |  |
| Computer Services, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 11/2031 |  |  | 5954 | 5835 | (e)(f) |  |
| Computer Services, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 11/2031 |  |  |  |  | (e)(g) |  |
| Confirmasoft AB | Sweden | 1st Lien Term Loan | 8.05% | EURIBOR (Q) | 6.00% |  | 06/2027 |  | € | 1995 | 2306 | (e)(f) |  |
| Confirmasoft AB | Sweden | 1st Lien Delay Draw Term Loan | 8.12% | CIBOR (Q) | 6.00% |  | 06/2027 |  | € | 1505 | 1740 | (e)(g) |  |
| Confirmasoft AB | Sweden | 1st Lien Delay Draw Term Loan | 8.03% | EURIBOR (Q) | 6.00% |  | 06/2027 |  | € | 1635 | 1890 | (e) |  |
| Confirmasoft AB | Sweden | 1st Lien Delay Draw Term Loan | 7.97% | STIBOR (Q) | 6.00% |  | 06/2027 |  | € | 224 | 259 | (e)(g) |  |
| Cority Software Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2032 |  |  |  |  | (e)(g) |  |
| Cority Software Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (Q) | 4.50% |  | 11/2032 |  |  | 6137 | 5953 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Cornerstone OnDemand, Inc. |  | 1st Lien Revolving Loan | 6.78% | SOFR (M) | 3.00% |  | 10/2026 |  | 22 | 16 | (e)(g) |  |
| Cornerstone OnDemand, Inc. |  | 1st Lien Term Loan | 7.53% | SOFR (M) | 3.75% |  | 10/2028 |  | 5677 | 4116 | (f) |  |
| Cornerstone OnDemand, Inc. |  | 2nd Lien Term Loan | 10.28% | SOFR (M) | 6.50% |  | 10/2029 |  | 22021 | 16515 | (e)(f) |  |
| Coupa Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 02/2029 |  |  |  | (e)(g) |  |
| Coupa Holdings, LLC |  | 1st Lien Term Loan | 8.92% | SOFR (Q) | 5.25% |  | 02/2030 |  | 225 | 217 | (e) |  |
| Coupa Holdings, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 02/2030 |  |  |  | (e)(g) |  |
| Cyber US Bidco LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Cyber US Bidco LLC |  | 1st Lien Term Loan | 8.69% | SOFR (S) | 5.00% |  | 12/2032 |  | 458 | 458 | (e) |  |
| Cyber US Bidco LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Databricks, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 01/2032 |  | 4992 | 4992 | (e) |  |
| Databricks, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2031 |  |  |  | (e)(g) |  |
| Databricks, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2032 |  |  |  | (e)(f)(g) |  |
| Datix Bidco Limited | United Kingdom | 1st Lien Revolving Loan |  |  |  |  | 10/2030 |  |  |  | (e)(g) |  |
| Datix Bidco Limited | United Kingdom | 1st Lien Term Loan | 8.73% | SOFR (S) | 5.00% |  | 04/2031 |  | 5965 | 5906 | (e) |  |
| Datix Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.46% | SONIA (S) | 5.25% |  | 04/2031 |  | £3289 | 4310 | (e) |  |
| Datix Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 04/2031 |  |  |  | (e)(g) |  |
| DCert Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2030 |  |  |  | (e)(g) |  |
| DCert Buyer, Inc. |  | 1st Lien Term Loan | 9.42% | SOFR (M) | 5.75% |  | 07/2030 |  | 1837 | 1800 | (e)(f) |  |
| DCert Buyer, Inc. |  | 2nd Lien Term Loan | 10.67% | SOFR (M) | 7.00% |  | 02/2029 |  | 7662 | 5804 | (f) |  |
| Dedomena Bidco Limited | United Kingdom | 1st Lien Term Loan | 9.25% | SONIA (Q) | 5.50% |  | 06/2032 |  | £706 | 934 | (e) |  |
| Dedomena Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 06/2032 |  | £— |  | (e)(g) |  |
| Diligent Corporation |  | 1st Lien Revolving Loan | 8.67% | SOFR (Q) | 5.00% |  | 08/2030 |  | 147 | 143 | (e)(g) |  |
| Diligent Corporation |  | 1st Lien Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 08/2030 |  | 8174 | 7929 | (e)(f) |  |
| Diligent Corporation |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 08/2030 |  |  |  | (e)(g) |  |
| Doxim Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2027 |  |  |  | (e)(g) |  |
| Doxim Inc. |  | 1st Lien Term Loan | 10.17% | SOFR (M) | 6.50% |  | 11/2027 |  | 36718 | 36718 | (e)(f) |  |
| Drivecentric Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2031 |  |  |  | (e)(g) |  |
| Drivecentric Holdings, LLC |  | 1st Lien Term Loan | 8.19% | SOFR (Q) | 4.50% |  | 08/2031 |  | 4121 | 4121 | (e)(f) |  |
| Drivecentric Holdings, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 08/2031 |  |  |  | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Echo Purchaser, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2029 |  |  |  |  | (e)(g) |  |
| Echo Purchaser, Inc. |  | 1st Lien Term Loan | 9.17% | SOFR (M) | 5.50% |  | 11/2029 |  |  | 1803 | 1803 | (e)(f) |  |
| Echo Purchaser, Inc. |  | 1st Lien Delay Draw Term Loan | 9.17% | SOFR (M) | 5.50% |  | 11/2029 |  |  | 155 | 155 | (e) |  |
| Eclipse Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2031 |  |  |  |  | (e)(g) |  |
| Eclipse Buyer, Inc. |  | 1st Lien Term Loan | 8.18% | SOFR (M) | 4.50% |  | 09/2031 |  |  | 45019 | 44569 | (e)(f) |  |
| Eclipse Buyer, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2031 |  |  |  |  | (e)(g) |  |
| Edition Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 12/2032 |  |  |  |  | (e)(g) |  |
| Edition Holdings, Inc. |  | 1st Lien Term Loan | 8.19% | SOFR (Q) | 4.50% |  | 12/2032 |  |  | 1944 | 1905 | (e)(f) |  |
| Edition Holdings, Inc. |  | 1st Lien Delay Draw Term Loan | 8.19% | SOFR (M) | 4.50% |  | 12/2032 |  |  | 250 | 245 | (e)(g) |  |
| Edmunds GovTech, Inc. |  | 1st Lien Revolving Loan | 7.45% | SOFR (Q) | 3.75% |  | 02/2030 |  |  | 32 | 32 | (e)(g) |  |
| Edmunds GovTech, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 02/2031 |  |  | 328 | 329 | (e)(f) |  |
| Edmunds GovTech, Inc. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 02/2031 |  |  | 384 | 384 | (e) |  |
| EG MIDCO APS | Denmark | 1st Lien Term Loan | 7.29% | EURIBOR (Q) | 5.25% |  | 01/2033 |  | € | 16124 | 18637 | (e) |  |
| EG MIDCO APS | Denmark | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2033 |  | € |  |  | (e)(g)(h) |  |
| Einstein Parent, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 01/2031 |  |  |  |  | (e)(g) |  |
| Einstein Parent, Inc. |  | 1st Lien Term Loan | 8.92% | SOFR (Q) | 5.25% |  | 01/2031 |  |  | 5031 | 4931 | (e)(f) |  |
| Elemica, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 02/2032 |  |  |  |  | (e)(g) |  |
| Elemica, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 02/2032 |  |  | 10388 | 10180 | (e)(f) |  |
| Ellucian Holdings Inc. |  | 1st Lien Term Loan | 6.17% | SOFR (M) | 2.50% |  | 10/2029 |  |  | 15251 | 14809 | (f) |  |
| Enigma Acquisition B.V. | Netherlands | 1st Lien Term Loan | 7.12% (2.19% PIK) | EURIBOR (S) | 5.00% |  | 01/2028 |  | € | 4551 | 5260 | (e)(f) |  |
| Ensono, Inc. |  | 1st Lien Term Loan | 7.78% | SOFR (M) | 4.00% |  | 05/2028 |  |  | 23362 | 21655 | (f) |  |
| Epicor Software Corporation |  | 1st Lien Term Loan | 6.17% | SOFR (M) | 2.50% |  | 05/2031 |  |  | 14379 | 14087 | (f) |  |
| ESHA Intermediate, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2032 |  |  |  |  | (e)(g) |  |
| ESHA Intermediate, LLC |  | 1st Lien Term Loan | 8.43% | SOFR (S) | 4.75% |  | 12/2032 |  |  | 1644 | 1627 | (e)(f) |  |
| ESHA Intermediate, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  |  | (e)(g) |  |
| EVEREST BIDCO I, INC. | United Kingdom | 1st Lien Revolving Loan |  |  |  |  | 01/2033 |  |  |  |  | (e)(g) |  |
| EVEREST BIDCO I, INC. | United Kingdom | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 01/2033 |  |  | 2357 | 2358 | (e) |  |
| EVEREST BIDCO I, INC. | United Kingdom | 1st Lien Term Loan | 7.13% | EURIBOR (Q) | 5.00% |  | 01/2033 |  | € | 240 | 277 | (e) |  |
| EVEREST BIDCO I, INC. | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2033 |  |  |  |  | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| ExtraHop Networks, Inc. |  | 1st Lien Revolving Loan | 10.27% | SOFR (M) | 6.50% |  | 07/2027 |  |  | 336 | 333 | (e)(g) |  |
| ExtraHop Networks, Inc. |  | 1st Lien Term Loan | 10.27% | SOFR (M) | 6.50% |  | 07/2027 |  |  | 2627 | 2600 | (e) |  |
| ExtraHop Networks, Inc. |  | 1st Lien Delay Draw Term Loan | 10.27% | SOFR (M) | 6.50% |  | 07/2027 |  |  | 983 | 973 | (e) |  |
| Flash Charm, Inc. |  | 1st Lien Term Loan | 7.16% | SOFR (Q) | 3.50% |  | 03/2028 |  |  | 4681 | 3681 | (f) |  |
| Flexential Topco Corporation |  | 1st Lien Revolving Loan | 12.00% |  |  |  | 08/2027 |  |  | 3000 | 3000 | (e)(g) |  |
| Flexera Software LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2032 |  |  |  |  | (e)(g) |  |
| Flexera Software LLC |  | 1st Lien Term Loan | 8.15% | SOFR (Q) | 4.50% |  | 08/2032 |  |  | 184 | 180 | (e)(f) |  |
| Flexera Software LLC |  | 1st Lien Term Loan | 6.45% | EURIBOR (B) | 4.50% |  | 08/2032 |  | € | 57 | 65 | (e)(f) |  |
| Flexera Software LLC |  | 1st Lien Term Loan | 8.15% | SOFR (Q) | 4.50% |  | 08/2032 |  |  | 3188 | 3124 | (e)(f) |  |
| GHP-VGS Purchaser LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2032 |  |  |  |  | (e)(g) |  |
| GHP-VGS Purchaser LLC |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 04/2032 |  |  | 1981 | 1981 | (e)(f) |  |
| GHP-VGS Purchaser LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 04/2032 |  |  |  |  | (e)(g) |  |
| Gilfoyle Bidco AB | Sweden | 1st Lien Term Loan |  |  |  |  | 09/2028 |  | SEK | 80291 | 6225 | (e)(i) |  |
| Gilfoyle Bidco AB | Sweden | 1st Lien Delay Draw Term Loan |  |  |  |  | 09/2028 |  | SEK | 13635 | 1057 | (e)(i) |  |
| Goldeneye Parent, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2032 |  |  |  |  | (e)(g) |  |
| Goldeneye Parent, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 03/2032 |  |  | 2455 | 2455 | (e)(f) |  |
| Goose Borrower, L.P. |  | 1st Lien Revolving Loan |  |  |  |  | 03/2033 |  |  |  |  | (e)(g) |  |
| Goose Borrower, L.P. |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 03/2033 |  |  | 1322 | 1309 | (e)(f) |  |
| Goose Borrower, L.P. |  | 1st Lien Delay Draw Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 03/2033 |  |  | 1623 | 1607 | (e) |  |
| Granite France Bidco SAS | France | 1st Lien Term Loan | 7.06% | EURIBOR (Q) | 4.95% |  | 10/2028 |  | € | 4039 | 3025 |  |  |
| Guidepoint Security Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 10/2029 |  |  |  |  | (e)(g) |  |
| Guidepoint Security Holdings, LLC |  | 1st Lien Term Loan | 8.92% | SOFR (M) | 5.25% |  | 10/2029 |  |  | 1714 | 1714 | (e)(f) |  |
| Guidepoint Security Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.92% | SOFR (M) | 5.25% |  | 10/2029 |  |  | 74 | 74 | (e)(g) |  |
| Hakken Bidco B.V. | Netherlands | 1st Lien Term Loan | 9.29% | EURIBOR (Q) | 7.25% |  | 07/2030 |  | € | 3060 | 3537 | (e) |  |
| Hakken Bidco B.V. | Netherlands | 1st Lien Delay Draw Term Loan | 9.29% | EURIBOR (Q) | 7.25% |  | 07/2030 |  | € | 596 | 689 | (e)(g) |  |
| Heavy Construction Systems Specialists, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2027 |  |  |  |  | (e)(g) |  |
| Heavy Construction Systems Specialists, LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 11/2028 |  |  | 6909 | 6909 | (e)(f) |  |
| Help/Systems Holdings, Inc. |  | 1st Lien Term Loan | 9.76% | SOFR (Q) | 6.00% |  | 05/2029 |  |  | 9774 | 8398 | (f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| HS Purchaser, LLC & Help/Systems Holdings, Inc. |  | 1st Lien Term Loan | 10.16% (3.25% PIK) | SOFR (Q) | 6.50% |  | 05/2029 |  | 40782 | 38563 | (e)(f) |  |
| Hyland Software, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2029 |  |  |  | (e)(g) |  |
| Hyland Software, Inc. |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 09/2030 |  | 9979 | 9979 | (e)(f) |  |
| Icefall Parent, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 01/2030 |  |  |  | (e)(g) |  |
| Icefall Parent, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 01/2030 |  | 2255 | 2255 | (e)(f) |  |
| ID.me, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 01/2031 |  |  |  | (e)(g) |  |
| ID.me, LLC |  | 1st Lien Term Loan | 10.25% (5.25% PIK) |  |  |  | 01/2031 |  | 19416 | 18251 | (e) |  |
| ID.me, LLC |  | 1st Lien Delay Draw Term Loan | 10.25% (5.25% PIK) |  |  |  | 01/2031 |  | 3139 | 3139 | (e)(g) |  |
| Internet Truckstop Group LLC |  | 1st Lien Revolving Loan |  |  |  |  | 04/2027 |  |  |  | (e)(g) |  |
| Internet Truckstop Group LLC |  | 1st Lien Term Loan | 9.10% | SOFR (Q) | 5.25% |  | 04/2027 |  | 2328 | 2328 | (e)(f) |  |
| IQN Holding Corp. |  | 1st Lien Revolving Loan | 8.95% | SOFR (Q) | 5.25% |  | 05/2028 |  | 367 | 367 | (e)(g) |  |
| IQN Holding Corp. |  | 1st Lien Term Loan | 9.45% (3.12% PIK) | SOFR (Q) | 5.75% |  | 05/2029 |  | 6778 | 6778 | (e)(f) |  |
| JAMS Buyer LLC |  | 1st Lien Revolving Loan |  |  |  |  | 06/2031 |  |  |  | (e)(g) |  |
| JAMS Buyer LLC |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 06/2032 |  | 1991 | 1991 | (e)(f) |  |
| JAMS Buyer LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 06/2032 |  |  |  | (e)(g) |  |
| Kairos Bidco Limited | United Kingdom | 1st Lien Revolving Loan | 8.45% | SOFR (Q) | 4.75% |  | 07/2032 |  | 12 | 11 | (e)(g) |  |
| Kairos Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 07/2032 |  | 961 | 942 | (e) |  |
| Kaseya Inc. |  | 1st Lien Term Loan | 6.92% | SOFR (M) | 3.25% |  | 03/2032 |  | 2995 | 2789 |  |  |
| Kaseya Inc. |  | 2nd Lien Term Loan | 8.67% | SOFR (M) | 5.00% |  | 03/2033 |  | 45975 | 36358 |  |  |
| LeanTaaS Holdings, Inc. |  | 1st Lien Term Loan | 11.45% | SOFR (Q) | 7.75% |  | 07/2028 |  | 2635 | 2582 | (e)(f) |  |
| LeanTaaS Holdings, Inc. |  | 1st Lien Delay Draw Term Loan | 11.45% | SOFR (Q) | 7.75% |  | 07/2028 |  | 1539 | 1508 | (e)(f) |  |
| LeanTaaS Holdings, Inc. |  | 1st Lien Delay Draw Term Loan | 11.45% | SOFR (Q) | 7.75% |  | 07/2028 |  | 2293 | 2247 | (e)(g) |  |
| LeanTaaS Holdings, Inc. |  | 1st Lien Delay Draw Term Loan | 11.45% | SOFR (Q) | 7.75% |  | 07/2028 |  | 374 | 367 | (e)(g) |  |
| Magellan Bidco | France | 1st Lien Term Loan | 8.38% | EURIBOR (S) | 6.25% |  | 10/2031 |  | 833 | 963 | (e) |  |
| Magellan Bidco | France | 1st Lien Delay Draw Term Loan | 8.38% | EURIBOR (S) | 6.25% |  | 10/2031 |  | 167 | 193 | (e) |  |
| Maltese Bidco 1 Limited | United Kingdom | 1st Lien Term Loan | 8.64% | EURIBOR (S) | 6.50% |  | 02/2029 |  | 3600 | 4161 | (e)(f) |  |
| Maltese Bidco 1 Limited | United Kingdom | 1st Lien Term Loan | 8.64% | EURIBOR (S) | 6.50% |  | 02/2029 |  | £1543 | 2042 | (e) |  |
| MCVIII Bidco Group B.V. | Netherlands | 1st Lien Term Loan | 7.88% | EURIBOR (Q) | 5.75% |  | 07/2032 |  | 905 | 1046 | (e) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| MCVIII Bidco Group B.V. | Netherlands | 1st Lien Delay Draw Term Loan |  |  |  |  | 07/2032 |  |  |  | (e)(g) |  |
| Merit Software Finance Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2031 |  |  |  | (e)(g) |  |
| Merit Software Finance Holdings, LLC |  | 1st Lien Term Loan | 8.94% | SOFR (Q) | 5.25% |  | 12/2032 |  | 1063 | 1053 | (e)(f) |  |
| Merit Software Finance Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.94% | SOFR (Q) | 5.25% |  | 12/2032 |  | 145 | 144 | (e)(g) |  |
| Metatiedot Bidco Oy | Luxembourg | 1st Lien Revolving Loan | 7.16% | EURIBOR (Q) | 5.00% |  | 11/2030 |  | 135 | 154 | (e)(g) |  |
| Metatiedot Bidco Oy | Luxembourg | 1st Lien Term Loan | 7.02% | EURIBOR (Q) | 5.00% |  | 11/2031 |  | 2757 | 3155 | (e)(f) |  |
| Metatiedot Bidco Oy | Luxembourg | 1st Lien Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 11/2031 |  | 2065 | 2045 | (e)(f) |  |
| Metatiedot Bidco Oy | Luxembourg | 1st Lien Delay Draw Term Loan | 7.02% | EURIBOR (Q) | 5.00% |  | 11/2031 |  | 246 | 282 | (e) |  |
| Mimecast Borrowerco, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 05/2029 |  | 37219 | 36846 | (e)(f) |  |
| Mimecast Borrowerco, Inc. |  | 1st Lien Term Loan | 8.23% | SONIA (Q) | 4.50% |  | 05/2029 |  | £6806 | 8919 | (e)(f) |  |
| Mimecast Borrowerco, Inc. |  | 1st Lien Delay Draw Term Loan | 8.17% | SOFR (M) | 4.50% |  | 05/2029 |  | 4174 | 4132 | (e)(f) |  |
| Mitchell International, Inc. |  | 2nd Lien Term Loan | 8.92% | SOFR (M) | 5.25% |  | 06/2032 |  | 10737 | 9606 |  |  |
| ML Holdco, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (Q) | 4.50% |  | 10/2032 |  | 18229 | 17864 | (e)(f) |  |
| ML Holdco, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 10/2032 |  |  |  | (e)(g) |  |
| Modernizing Medicine, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 04/2032 |  |  |  | (e)(g) |  |
| Modernizing Medicine, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 04/2032 |  | 23024 | 23024 | (e)(f) |  |
| MRI Software LLC |  | 1st Lien Revolving Loan | 8.45% | SOFR (Q) | 4.75% |  | 02/2028 |  | 158 | 156 | (e)(g) |  |
| MRI Software LLC |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 02/2028 |  | 9958 | 9859 | (e)(f) |  |
| MRI Software LLC |  | 1st Lien Delay Draw Term Loan | 8.46% | SOFR (Q) | 4.75% |  | 02/2028 |  | 227 | 225 | (e)(g) |  |
| MS Buyer, Inc. |  | 1st Lien Term Loan | 8.95% | SOFR (Q) | 5.25% |  | 07/2031 |  | 301 | 298 | (e)(f) |  |
| Netsmart Technologies, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2031 |  |  |  | (e)(g) |  |
| Netsmart Technologies, Inc. |  | 1st Lien Term Loan | 8.87% (2.70% PIK) | SOFR (M) | 5.20% |  | 08/2031 |  | 38789 | 38789 | (e)(f) |  |
| Netsmart Technologies, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 08/2031 |  |  |  | (e)(g) |  |
| North Star Acquisitionco, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 05/2029 |  |  |  | (e)(g) |  |
| North Star Acquisitionco, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 05/2029 |  | 2121 | 2100 | (e) |  |
| North Star Acquisitionco, LLC |  | 1st Lien Term Loan | 8.22% | SONIA (Q) | 4.50% |  | 05/2029 |  | £239 | 313 | (e) |  |
| North Star Acquisitionco, LLC |  | 1st Lien Term Loan | 8.61% | NIBOR (Q) | 4.50% |  | 05/2029 |  | 5242 | 536 | (e) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| North Star Acquisitionco, LLC |  | 1st Lien Delay Draw Term Loan | 8.22% | SONIA (Q) | 4.50% |  | 05/2029 |  | 496 | 491 | (e) |  |
| OID-OL Intermediate I, LLC |  | 1st Lien Term Loan | 9.67% | SOFR (Q) | 6.00% |  | 02/2029 |  | 1626 | 1610 |  |  |
| OID-OL Intermediate I, LLC |  | 1st Lien Term Loan | 8.07% | SOFR (Q) | 4.25% |  | 02/2029 |  | 864 | 568 |  |  |
| Omnigo Software, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2030 |  |  |  | (e)(g) |  |
| Omnigo Software, LLC |  | 1st Lien Term Loan | 8.67% | SOFR (M) | 5.00% |  | 12/2030 |  | 594 | 588 | (e)(f) |  |
| Omnigo Software, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2030 |  |  |  | (e)(g) |  |
| ParentPay Group Limited | United Kingdom | 1st Lien Term Loan | 10.58% | SONIA (Q) | 6.72% |  | 06/2028 |  | £5529 | 7318 | (e)(f) |  |
| ParentPay Group Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.58% | SONIA (Q) | 6.72% |  | 06/2028 |  | £1464 | 1937 | (e) |  |
| PCMI Parent, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2032 |  |  |  | (e)(g) |  |
| PCMI Parent, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 03/2032 |  | 3223 | 3223 | (e)(f) |  |
| PDDS Holdco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2031 |  |  |  | (e)(g) |  |
| PDDS Holdco, Inc. |  | 1st Lien Term Loan | 9.63% | SOFR (S) | 6.00% |  | 09/2031 |  | 573 | 567 | (e)(f) |  |
| PDI TA Holdings, Inc. |  | 1st Lien Revolving Loan | 9.17% | SOFR (Q) | 5.50% |  | 02/2031 |  | 172 | 167 | (e)(g) |  |
| PDI TA Holdings, Inc. |  | 1st Lien Term Loan | 9.67% (3.00% PIK) | SOFR (M) | 6.00% |  | 02/2031 |  | 2541 | 2465 | (e)(f) |  |
| Pluralsight, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2029 |  |  |  | (e)(g) |  |
| Pluralsight, LLC |  | 1st Lien Term Loan | 6.67% | SOFR (M) | 3.00% |  | 08/2029 |  | 3228 | 3229 | (e) |  |
| Pluralsight, LLC |  | 1st Lien Term Loan |  |  |  |  | 08/2029 |  | 3836 | 230 | (e)(i) |  |
| Pluralsight, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 08/2029 |  |  |  | (e)(g) |  |
| Polaris Newco, LLC |  | 1st Lien Term Loan | 7.93% | SOFR (Q) | 4.00% |  | 06/2028 |  | 16447 | 14433 | (f) |  |
| Poseidon Intermediateco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 06/2031 |  |  |  | (e)(g) |  |
| Poseidon Intermediateco, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 06/2032 |  | 1024 | 1024 | (e)(f) |  |
| Poseidon Intermediateco, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 06/2032 |  |  |  | (e)(g) |  |
| PracticeTek Purchaser, LLC |  | 1st Lien Revolving Loan | 8.20% | SOFR (Q) | 4.50% |  | 08/2029 |  | 1 | 1 | (e)(g) |  |
| PracticeTek Purchaser, LLC |  | 1st Lien Term Loan | 9.45% | SOFR (Q) | 5.75% |  | 08/2029 |  | 7425 | 7425 | (e)(f) |  |
| PracticeTek Purchaser, LLC |  | 1st Lien Delay Draw Term Loan | 9.45% | SOFR (Q) | 5.75% |  | 08/2029 |  | 107 | 107 | (e) |  |
| Precisely Software Incorporated (f/k/a Syncsort Incorporated) |  | 1st Lien Term Loan | 7.93% | SOFR (Q) | 4.00% |  | 04/2028 |  | 12959 | 9913 | (f) |  |
| Project Boost Purchaser, LLC |  | 1st Lien Term Loan | 6.45% | SOFR (Q) | 2.75% |  | 07/2031 |  | 9722 | 9356 |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Proofpoint, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 06/2028 |  |  |  |  | (e)(g) |  |
| Proofpoint, Inc. |  | 1st Lien Term Loan | 6.70% | SOFR (Q) | 3.00% |  | 08/2028 |  |  | 23922 | 23125 | (f) |  |
| Proofpoint, Inc. |  | 2nd Lien Term Loan | 9.45% | SOFR (Q) | 5.75% |  | 12/2033 |  |  | 2580 | 2477 | (e)(f) |  |
| Proofpoint, Inc. |  | 2nd Lien Term Loan | 7.77% | EURIBOR (B) | 5.75% |  | 12/2033 |  | € | 2256 | 2503 | (e)(f) |  |
| Property Finder Mercury Ltd | United Arab Emirates | 1st Lien Term Loan | 8.17% | SOFR (Q) | 4.50% |  | 12/2032 |  |  | 1849 | 1849 | (e) |  |
| Property Finder Mercury Ltd | United Arab Emirates | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  |  | (e)(g)(h) |  |
| Pushpay USA Inc. |  | 1st Lien Term Loan | 7.45% | SOFR (Q) | 3.75% |  | 08/2031 |  |  | 2985 | 2895 | (e)(f) |  |
| QBS Parent, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 06/2032 |  |  |  |  | (e)(g) |  |
| QBS Parent, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 06/2032 |  |  | 4764 | 4669 | (e)(f) |  |
| QF Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 12/2032 |  |  |  |  | (e)(g) |  |
| QF Holdings, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 12/2032 |  |  | 1320 | 1280 | (e)(f) |  |
| QF Holdings, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  |  | (e)(g) |  |
| RealPage, Inc. |  | 1st Lien Term Loan | 6.93% | SOFR (Q) | 3.00% |  | 04/2028 |  |  | 11459 | 10959 |  |  |
| RealPage, Inc. |  | 1st Lien Term Loan | 7.45% | SOFR (Q) | 3.75% |  | 04/2028 |  |  | 109 | 106 |  |  |
| Revalize, Inc. |  | 1st Lien Revolving Loan | 9.60% | SOFR (Q) | 5.75% |  | 04/2029 |  |  | 80 | 68 | (e)(g) |  |
| Revalize, Inc. |  | 1st Lien Delay Draw Term Loan | 9.85% (1.25% PIK) | SOFR (Q) | 6.00% |  | 04/2029 |  |  | 2898 | 2492 | (e) |  |
| RMS Holdco II, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 06/2029 |  |  |  |  | (e)(g) |  |
| RMS Holdco II, LLC |  | 1st Lien Term Loan | 8.67% | SOFR (Q) | 5.00% |  | 06/2029 |  |  | 3896 | 3701 | (e)(f) |  |
| Runway Bidco, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2031 |  |  |  |  | (e)(g) |  |
| Runway Bidco, LLC |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 12/2031 |  |  | 1029 | 1009 | (e)(f) |  |
| Runway Bidco, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2031 |  |  |  |  | (e)(g) |  |
| Sapphire Software Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 09/2031 |  |  |  |  | (e)(g) |  |
| Sapphire Software Buyer, Inc. |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 09/2031 |  |  | 10325 | 10118 | (e)(f) |  |
| Sedgwick Claims Management Services, Inc. (Lightning Cayman Merger Sub, Ltd.) |  | 1st Lien Term Loan | 6.17% | SOFR (M) | 2.50% |  | 07/2031 |  |  | 12338 | 12098 | (f) |  |
| Severin Acquisition, LLC |  | 1st Lien Revolving Loan | 8.18% | SOFR (M) | 4.50% |  | 10/2031 |  |  | 1538 | 1507 | (e)(g) |  |
| Severin Acquisition, LLC |  | 1st Lien Term Loan | 8.42% (2.25% PIK) | SOFR (M) | 4.75% |  | 10/2031 |  |  | 44442 | 43553 | (e)(f) |  |
| Severin Acquisition, LLC |  | 1st Lien Delay Draw Term Loan | 2.25% PIK | SOFR (M) | 4.75% |  | 10/2031 |  |  | 2206 | 2162 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Smarsh Inc. |  | 1st Lien Revolving Loan | 8.45% | SOFR (Q) | 4.75% |  | 02/2029 |  | 145 | 144 | (e)(g) |  |
| Smarsh Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 02/2029 |  | 4682 | 4635 | (e)(f) |  |
| Smarsh Inc. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (M) | 4.75% |  | 02/2029 |  | 99 | 98 | (e)(g) |  |
| Spaceship Purchaser, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 10/2031 |  |  |  | (e)(g) |  |
| Spaceship Purchaser, Inc. |  | 1st Lien Term Loan | 7.45% | SOFR (Q) | 3.75% |  | 10/2031 |  | 16104 | 16104 | (e)(f) |  |
| Spark Purchaser, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 04/2030 |  |  |  | (e)(g) |  |
| Spark Purchaser, Inc. |  | 1st Lien Term Loan | 8.95% | SOFR (Q) | 5.25% |  | 04/2031 |  | 1283 | 1283 | (e) |  |
| Sundance Group Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 07/2029 |  |  |  | (e)(g) |  |
| Sundance Group Holdings, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 07/2029 |  | 3779 | 3741 | (e)(f) |  |
| Sundance Group Holdings, Inc. |  | 1st Lien Term Loan | 8.45% |  |  |  | 07/2029 |  | 1794 | 1776 | (e)(f) |  |
| Superman Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2031 |  |  |  | (e)(g) |  |
| Superman Holdings, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 08/2031 |  | 8626 | 8540 | (e)(f) |  |
| Superman Holdings, LLC |  | 1st Lien Delay Draw Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 08/2031 |  | 2816 | 2787 | (e) |  |
| TCP Hawker Intermediate LLC |  | 1st Lien Revolving Loan | 7.45% | SOFR (Q) | 3.75% |  | 08/2029 |  | 3384 | 3316 | (e)(g) |  |
| TCP Hawker Intermediate LLC |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 08/2029 |  | 6768 | 6633 | (e)(f) |  |
| TCP Hawker Intermediate LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 08/2029 |  |  |  | (e)(g) |  |
| Three Rivers Buyer, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2031 |  |  |  | (e)(g) |  |
| Three Rivers Buyer, Inc. |  | 1st Lien Term Loan | 8.42% | SOFR (M) | 4.75% |  | 11/2031 |  | 239 | 236 | (e)(f) |  |
| Trading Technologies International, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2032 |  |  |  | (e)(g) |  |
| Trading Technologies International, Inc. |  | 1st Lien Term Loan | 7.91% | SOFR (Q) | 4.25% |  | 11/2032 |  | 687 | 674 | (e)(f) |  |
| Trading Technologies International, Inc. |  | 1st Lien Delay Draw Term Loan | 7.91% | SOFR (Q) | 4.25% |  | 11/2032 |  | 134 | 131 | (e) |  |
| Transit Technologies LLC |  | 1st Lien Revolving Loan |  |  |  |  | 08/2030 |  |  |  | (e)(g) |  |
| Transit Technologies LLC |  | 1st Lien Term Loan | 8.70% | SOFR (S) | 5.00% |  | 08/2031 |  | 3790 | 3772 | (e)(f) |  |
| Transit Technologies LLC |  | 1st Lien Term Loan | 8.23% | SOFR (S) | 4.50% |  | 08/2031 |  | 204 | 200 | (e)(f) |  |
| Transit Technologies LLC |  | 1st Lien Delay Draw Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 08/2031 |  | 474 | 471 | (e)(g) |  |
| UFS, LLC |  | 1st Lien Revolving Loan | 8.43% | SOFR (M) | 4.75% |  | 10/2031 |  | 26 | 26 | (e)(g) |  |
| UFS, LLC |  | 1st Lien Term Loan | 8.43% | SOFR (M) | 4.75% |  | 10/2031 |  | 1401 | 1387 | (e)(f) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Unicorn Holdco Intermediate II LLC |  | 1st Lien Revolving Loan |  |  |  |  | 03/2033 |  |  |  | (e)(g) |  |
| Unicorn Holdco Intermediate II LLC |  | 1st Lien Term Loan | 8.19% | SOFR (Q) | 4.50% |  | 03/2033 |  | 1583 | 1567 | (e)(f) |  |
| UserZoom Technologies, Inc. |  | 1st Lien Term Loan | 11.17% (1.75% PIK) | SOFR (Q) | 7.50% |  | 04/2029 |  | 251 | 226 | (e)(f) |  |
| UserZoom Technologies, Inc. |  | 1st Lien Term Loan | 11.15% (1.75% PIK) | SOFR (Q) | 7.50% |  | 04/2029 |  | 23 | 20 | (e) |  |
| Vamos Bidco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 01/2032 |  |  |  | (e)(g) |  |
| Vamos Bidco, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 01/2032 |  | 2580 | 2554 | (e)(f) |  |
| Vamos Bidco, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 01/2032 |  |  |  | (e)(g) |  |
| Victors Purchaser, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Victors Purchaser, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 12/2032 |  | 14206 | 14064 | (e)(f) |  |
| Victors Purchaser, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (S) | 4.50% |  | 12/2032 |  | 4 | 4 | (e)(f) |  |
| Victors Purchaser, LLC |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2032 |  |  |  | (e)(g) |  |
| Viper Bidco, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 11/2031 |  |  |  | (e)(g) |  |
| Viper Bidco, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 11/2031 |  | 5144 | 5093 | (e)(f) |  |
| Viper Bidco, Inc. |  | 1st Lien Term Loan | 8.48% | SONIA (Q) | 4.75% |  | 11/2031 |  | £2187 | 2865 | (e)(f) |  |
| Viper Bidco, Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 11/2031 |  |  |  | (e)(g) |  |
| VS Buyer, LLC |  | 1st Lien Term Loan | 5.92% | SOFR (Q) | 2.25% |  | 04/2031 |  | 997 | 973 |  |  |
| WebPT, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 01/2028 |  |  |  | (e)(g) |  |
| WebPT, Inc. |  | 1st Lien Term Loan | 10.05% (3.12% PIK) | SOFR (Q) | 6.25% |  | 01/2028 |  | 2056 | 1871 | (e)(f) |  |
| Wellington Bidco Inc. |  | 1st Lien Revolving Loan | 8.45% | SOFR (Q) | 4.75% |  | 06/2030 |  | 110 | 109 | (e)(g) |  |
| Wellington Bidco Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 06/2030 |  | 3272 | 3239 | (e)(f) |  |
| Wellington Bidco Inc. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 06/2030 |  | 823 | 815 | (e)(g) |  |
| Wellness AcquisitionCo, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 01/2029 |  |  |  | (e)(g) |  |
| Wellness AcquisitionCo, Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 01/2029 |  | 9003 | 9003 | (e)(f) |  |
| Wellness AcquisitionCo, Inc. |  | 1st Lien Delay Draw Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 01/2029 |  | 1363 | 1362 | (e) |  |
| WorkWave Intermediate II, LLC |  | 1st Lien Revolving Loan | 9.46% | SOFR (Q) | 5.75% |  | 09/2032 |  | 650 | 637 | (e)(g) |  |
| WorkWave Intermediate II, LLC |  | 1st Lien Term Loan | 9.44% | SOFR (Q) | 5.75% |  | 09/2032 |  | 43435 | 42566 | (e)(f) |  |
|  |  |  |  |  |  |  |  |  |  | 1282126 |  | 25.96% |
| **Sports, Media and Entertainment** | **Sports, Media and Entertainment** | **Sports, Media and Entertainment** |  |  |  |  |  |  |  |  |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| 3 Step Sports LLC |  | 1st Lien Revolving Loan | 10.17% | SOFR (M) | 6.50% |  | 10/2028 |  | 43 | 43 | (e)(g) |  |
| 3 Step Sports LLC |  | 1st Lien Term Loan | 10.20% | SOFR (Q) | 6.50% |  | 10/2029 |  | 1945 | 1945 | (e) |  |
| 3 Step Sports LLC |  | 1st Lien Term Loan | 10.19% | SOFR (Q) | 6.50% |  | 10/2029 |  | 495 | 495 | (e)(f) |  |
| 3 Step Sports LLC |  | 1st Lien Delay Draw Term Loan | 10.20% | SOFR (Q) | 6.50% |  | 10/2029 |  | 247 | 247 | (e)(g) |  |
| Aventine Intermediate LLC |  | 1st Lien Term Loan | 9.80% (3.50% PIK) | SOFR (Q) | 6.00% |  | 06/2029 |  | 1366 | 1257 | (e)(f) |  |
| Aventine Intermediate LLC |  | 1st Lien Delay Draw Term Loan | 9.80% (3.50% PIK) | SOFR (Q) | 6.00% |  | 06/2029 |  | 556 | 511 | (e) |  |
| Bad Vibes Forever, LLC and Bad Vibes Forever Publishing, LLC |  | 1st Lien Term Loan | 9.10% | SOFR (S) | 5.50% |  | 06/2032 |  | 537 | 538 | (e) |  |
| Create Music Holdings, LLC |  | 2nd Lien Term Loan | 9.67% | SOFR (Q) | 6.00% |  | 02/2033 |  | 1255 | 1233 | (e) |  |
| Create Music Holdings, LLC |  | 2nd Lien Delay Draw Term Loan |  |  |  |  | 02/2033 |  |  |  | (e)(g) |  |
| Eagle Football Holdings BidCo Limited | United Kingdom | 1st Lien Delay Draw Term Loan |  |  |  |  | 12/2026 |  |  |  | (e)(g) |  |
| Fever Labs, Inc. |  | 1st Lien Revolving Loan | 11.00% |  |  |  | 11/2028 |  | 2703 | 2703 | (e)(g) |  |
| Fever Labs, Inc. |  | 1st Lien Term Loan | 11.00% |  |  |  | 11/2028 |  | 3787 | 3787 | (e) |  |
| Fever Labs, Inc. |  | 1st Lien Term Loan | 10.50% |  |  |  | 11/2028 |  | 141 | 141 | (e)(f) |  |
| Fever Labs, Inc. |  | 1st Lien Delay Draw Term Loan | 11.00% |  |  |  | 11/2028 |  | 811 | 811 | (e)(g) |  |
| Global Music Rights, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 12/2031 |  |  |  | (e)(g) |  |
| Global Music Rights, LLC |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 12/2031 |  | 64370 | 64370 | (e)(f) |  |
| League One Volleyball Clubs, LLC |  | 1st Lien Delay Draw Term Loan | 10.20% | SOFR (Q) | 6.50% |  | 01/2030 |  | 1 | 1 | (e)(g) |  |
| Legends Hospitality Holding Company, LLC |  | 1st Lien Revolving Loan | 8.67% | SOFR (M) | 5.00% |  | 08/2030 |  | 315 | 311 | (e)(g) |  |
| Legends Hospitality Holding Company, LLC |  | 1st Lien Term Loan | 9.17% (2.75% PIK) | SOFR (M) | 5.50% |  | 08/2031 |  | 6197 | 6135 | (e)(f) |  |
| Legends Hospitality Holding Company, LLC |  | 1st Lien Delay Draw Term Loan | 8.66% | SOFR (Q) | 5.00% |  | 08/2031 |  | 352 | 349 | (e) |  |
| MARI EVENTS MIDCO LLC |  | 1st Lien Term Loan | 7.70% | SOFR (Q) | 4.00% |  | 10/2032 |  | 41 | 40 | (e) |  |
| MARI EVENTS MIDCO LLC |  | 1st Lien Delay Draw Term Loan | 7.70% | SOFR (Q) | 4.00% |  | 10/2032 |  | 31 | 30 | (e)(g) |  |
| Mari Miami II LLC |  | 1st Lien Term Loan | 8.70% | SOFR (Q) | 5.00% |  | 10/2032 |  | 173 | 173 | (e)(f) |  |
| NEP Group, Inc. |  | 1st Lien Term Loan | 8.17% | SOFR (M) | 4.50% |  | 10/2031 |  | 15664 | 14128 |  |  |
| Production Resource Group, L.L.C. |  | 1st Lien Term Loan | 11.30% PIK | SOFR (Q) | 7.50% |  | 10/2030 |  | 1432 | 1431 | (e) |  |
| Professional Fighters League, LLC |  | 1st Lien Term Loan | 14.00% PIK |  |  |  | 01/2029 |  | 475 | 475 | (e) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Shout! Factory, LLC |  | 1st Lien Revolving Loan | 8.92% | SOFR (Q) | 5.25% |  | 06/2031 |  | 31 | 31 | (e)(g) |  |
| Shout! Factory, LLC |  | 1st Lien Term Loan | 8.95% | SOFR (Q) | 5.25% |  | 06/2031 |  | 660 | 647 | (e)(f) |  |
| Voldex Entertainment Limited | United Kingdom | 1st Lien Term Loan | 10.95% | SOFR (Q) | 7.25% |  | 01/2029 |  | 15 | 15 | (e) |  |
| WRE Sports Investments LLC |  | 1st Lien Term Loan | 11.00% (5.50% PIK) |  |  |  | 07/2031 |  | 7570 | 7570 | (e) |  |
| WRE Sports Investments LLC |  | 1st Lien Delay Draw Term Loan | 11.00% (5.50% PIK) |  |  |  | 07/2031 |  | 628 | 628 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 110045 |  | 2.23% |
| **Technology Hardware and Equipment** | **Technology Hardware and Equipment** | **Technology Hardware and Equipment** |  |  |  |  |  |  |  |  |  |  |
| Addsecure Group Services AB | Sweden | 1st Lien Term Loan | 7.84% | EURIBOR (Q) | 5.25% |  | 03/2033 |  | 45630 | 4820 | (e) |  |
| Addsecure Group Services AB | Sweden | 1st Lien Delay Draw Term Loan |  |  |  |  | 03/2033 |  | 5370 | 567 | (e)(h) |  |
| Chariot Buyer LLC |  | 1st Lien Revolving Loan |  |  |  |  | 01/2029 |  |  |  | (e)(g) |  |
| Chariot Buyer LLC |  | 1st Lien Term Loan | 6.42% | SOFR (M) | 2.75% |  | 09/2032 |  | 10328 | 10221 | (f) |  |
| ConnectWise, LLC |  | 1st Lien Term Loan | 7.46% | SOFR (Q) | 3.50% |  | 09/2028 |  | 5514 | 5077 | (f) |  |
| Cotiviti Holdings, Inc. |  | 1st Lien Term Loan | 6.42% | SOFR (M) | 2.75% |  | 03/2032 |  | 5459 | 5014 |  |  |
| Excelitas Technologies Corp. |  | 1st Lien Term Loan | 8.92% | SOFR (M) | 5.25% |  | 08/2029 |  | 2092 | 2092 | (e)(f) |  |
| Excelitas Technologies Corp. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 08/2029 |  |  |  | (e)(g) |  |
| FL Hawk Intermediate Holdings, Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 02/2029 |  |  |  | (e)(g) |  |
| FL Hawk Intermediate Holdings, Inc. |  | 1st Lien Term Loan | 8.20% | SOFR (Q) | 4.50% |  | 02/2030 |  | 11665 | 11665 | (e)(f) |  |
| Repairify, Inc. |  | 1st Lien Revolving Loan | 9.24% | SOFR (S) | 5.25% |  | 06/2027 |  | 540 | 540 | (e)(g) |  |
| Repairify, Inc. |  | 1st Lien Term Loan | 9.10% | SOFR (Q) | 5.25% |  | 06/2027 |  | 3960 | 3961 | (e)(f) |  |
|  |  |  |  |  |  |  |  |  |  | 43957 |  | 0.89% |
| **Telecommunication Services** | **Telecommunication Services** |  |  |  |  |  |  |  |  |  |  |  |
| CB-SDG Limited | United Kingdom | 1st Lien Term Loan |  |  |  |  | 04/2028 |  | £2076 | 644 | (e)(i) |  |
| CB-SDG Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 9.85% | SONIA (Q) | 6.00% |  | 04/2027 |  | £28 | 36 | (e)(g) |  |
| Delta Topco, Inc. |  | 1st Lien Term Loan | 6.42% | SOFR (M) | 2.75% |  | 11/2029 |  | 11339 | 10951 | (f) |  |
| Hamsard 3713 Limited | United Kingdom | 1st Lien Term Loan | 8.74% | EURIBOR (Q) | 6.61% |  | 11/2030 |  | 8541 | 9872 | (e) |  |
| Hamsard 3713 Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.50% | SOFR (Q) | 6.61% |  | 11/2030 |  | 3968 | 4586 | (e) |  |
| Hamsard 3713 Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.35% | SOFR (Q) | 6.61% |  | 11/2030 |  | 568 | 568 | (e) |  |
| Panther NewCo | France | 1st Lien Term Loan | 7.55% | EURIBOR (Q) | 5.43% |  | 05/2029 |  | 8250 | 9536 | (e) |  |
| Panther NewCo | France | 1st Lien Delay Draw Term Loan | 7.55% | EURIBOR (Q) | 5.43% |  | 05/2029 |  | 2798 | 3234 | (e) |  |
| Panther NewCo | France | 1st Lien Delay Draw Term Loan | 7.80% | EURIBOR (Q) | 5.68% |  | 05/2029 |  | 4663 | 5390 | (e)(g)(h) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Radiate Holdco LLC |  | 1st Lien Term Loan | 7.67% | SOFR (M) | 4.00% |  | 06/2029 |  |  | 2609 | 2605 |  |  |
| Radiate Holdco LLC |  | 1st Lien Delay Draw Term Loan | 7.67% | SOFR (M) | 4.00% |  | 06/2029 |  |  | 2609 | 2605 | (g) |  |
| Ristretto Bidco B.V. |  | 1st Lien Revolving Loan |  |  |  |  | 12/2030 |  |  |  |  | (e)(g) |  |
| Ristretto Bidco B.V. |  | 1st Lien Term Loan | 10.17% (3.50% PIK) | SOFR (Q) | 6.50% |  | 12/2030 |  |  | 26960 | 26421 | (e)(f) |  |
| Ristretto Bidco B.V. |  | 1st Lien Delay Draw Term Loan | 3.50% PIK | SOFR (Q) | 6.50% |  | 12/2030 |  |  | 1997 | 1957 | (e)(g) |  |
| Zayo Group Holdings, Inc. |  | 1st Lien Term Loan | 6.78% (0.50% PIK) | SOFR (M) | 3.00% |  | 03/2030 |  |  | 9759 | 9567 | (f) |  |
|  |  |  |  |  |  |  |  |  |  |  | 87972 |  | 1.78% |
| **Transportation** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Draken Bidco Limited | United Kingdom | 1st Lien Term Loan | 10.40% | SOFR (S) | 6.50% |  | 07/2029 |  |  | 10560 | 10560 | (e)(f) |  |
| Draken Bidco Limited | United Kingdom | 1st Lien Delay Draw Term Loan | 10.60% | SOFR (S) | 6.50% |  | 07/2029 |  |  | 1440 | 1440 | (e) |  |
| First Student Bidco Inc. |  | 1st Lien Term Loan | 5.95% | SOFR (Q) | 2.25% |  | 08/2030 |  |  | 6135 | 6112 | (f) |  |
| First Student Bidco Inc. |  | 1st Lien Term Loan | 5.95% |  |  |  | 08/2030 |  |  | 1123 | 1118 | (f) |  |
| FTAI Infrastructure Inc. |  | 1st Lien Term Loan | 9.75% |  |  |  | 02/2028 |  |  | 15803 | 15329 | (e) |  |
| Jeppesen Holdings, LLC |  | 1st Lien Revolving Loan |  |  |  |  | 11/2032 |  |  |  |  | (e)(g) |  |
| Jeppesen Holdings, LLC |  | 1st Lien Term Loan | 8.42% | SOFR (Q) | 4.75% |  | 11/2032 |  |  | 1235 | 1223 | (e)(f) |  |
| Neovia Logistics, LP |  | 1st Lien Term Loan | 12.90% | SOFR (Q) | 9.00% |  | 11/2027 |  |  | 506 | 506 | (e) |  |
| Zeppelin US Buyer Inc. |  | 1st Lien Revolving Loan |  |  |  |  | 08/2032 |  |  |  |  | (e)(g) |  |
| Zeppelin US Buyer Inc. |  | 1st Lien Term Loan | 8.45% | SOFR (Q) | 4.75% |  | 08/2032 |  |  | 402 | 403 | (e)(f) |  |
| Zeppelin US Buyer Inc. |  | 1st Lien Delay Draw Term Loan |  |  |  |  | 08/2032 |  |  |  |  | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  |  | 36691 |  | 0.74% |
| **Utilities** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Semper Holding BV | Netherlands | 1st Lien Term Loan | 7.95% | EURIBOR (S) | 5.45% |  | 02/2031 |  | € | 7500 | 8669 | (e)(f) |  |
| Semper Holding BV | Netherlands | 1st Lien Term Loan | 7.45% | EURIBOR (S) | 4.95% |  | 02/2031 |  | € | 22353 | 25836 | (e) |  |
| Watt Holdco Limited | Ireland | 1st Lien Term Loan | 7.41% | EURIBOR (Q) | 5.25% |  | 09/2031 |  | € | 3000 | 3468 | (e) |  |
| Watt Holdco Limited | Ireland | 1st Lien Delay Draw Term Loan | 8.98% | SONIA (Q) | 5.25% |  | 09/2031 |  | € | 184 | 212 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  |  | 38185 |  | 0.77% |
| **TOTAL SENIOR LOANS (Cost $5,274,557)** | **TOTAL SENIOR LOANS (Cost $5,274,557)** | **TOTAL SENIOR LOANS (Cost $5,274,557)** |  |  |  |  |  |  |  |  | 5197404 |  | 105.22% |
| **SUBORDINATED LOANS(b)(c)(d)** | **SUBORDINATED LOANS(b)(c)(d)** | **SUBORDINATED LOANS(b)(c)(d)** |  |  |  |  |  |  |  |  |  |  |  |
| **Capital Goods** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| OPH NEP Investment, LLC |  | Senior Subordinated Loan | 10.00% (7.00% PIK) |  |  |  | 05/2032 |  |  | 11073 | 10741 | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  | 10741 |  | 0.22% |
| **Commercial and Professional Services** | **Commercial and Professional Services** | **Commercial and Professional Services** |  |  |  |  |  |  |  |  |  |  |  |
| Covert HoldCo, LP |  | Senior Subordinated Loan | 9.42% | SOFR (Q) | 5.75% |  | 03/2031 |  |  | 24772 | 24277 | (e) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| TVG-MGT UPPER INTERMEDIATE HOLDINGS, LLC |  | Senior Subordinated Loan | 14.00% PIK |  |  |  | 08/2031 |  |  | 492 | 477 | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  | 24754 |  | 0.50% |
| **Consumer Distribution and Retail** | **Consumer Distribution and Retail** | **Consumer Distribution and Retail** |  |  |  |  |  |  |  |  |  |  |  |
| Carrera Bidco Limited | United Kingdom | Senior Subordinated Loan | 7.75% | EURIBOR (S) | 5.25% |  | 11/2032 |  | € | 5865 | 6644 | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  | 6644 |  | 0.13% |
| **Consumer Durables and Apparel** | **Consumer Durables and Apparel** | **Consumer Durables and Apparel** |  |  |  |  |  |  |  |  |  |  |  |
| Centric Brands TopCo, LLC |  | Senior Subordinated Loan | 10.17% | SOFR (Q) | 7.25% |  | 02/2031 |  |  | 1688 | 1688 | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  | 1688 |  | 0.03% |
| **Data Centers** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Retained Vantage Data Centers Intermediate Holdco, L.P_Retained Vantage Data Centers Assets, LP |  | Senior Subordinated Loan | 9.50% |  |  |  | 12/2031 |  |  | 16253 | 15969 | (e) |  |
| Retained Vantage Data Centers Intermediate Holdco, L.P_Retained Vantage Data Centers Assets, LP |  | Senior Subordinated Loan | 9.50% |  |  |  | 12/2031 |  |  | 10727 | 10539 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  |  | 26508 |  | 0.54% |
| **Financial Services** | **Financial Services** |  |  |  |  |  |  |  |  |  |  |  |  |
| BCC Blueprint Holdings I, LLC |  | Senior Subordinated Loan | 10.45% | SOFR (Q) | 6.75% |  | 12/2031 |  |  | 8873 | 8873 | (e) |  |
| eCapital Finance Corp. | Canada | Senior Subordinated Loan | 11.02% | SOFR (M) | 7.25% |  | 09/2029 |  |  | 59489 | 58894 | (e) |  |
| Gapco Aiv Interholdco (CP), L.P. |  | Senior Subordinated Loan | 10.45% PIK | SOFR (Q) | 6.75% |  | 03/2033 |  |  | 7221 | 7221 | (e) |  |
| Gapco Aiv Interholdco (CP), L.P./Delayed Draw Term Loan 12/25 |  | Senior Subordinated Loan | 10.45% PIK |  |  |  | 03/2033 |  |  | 1774 | 1774 | (e) |  |
| TVG-TMG Topco, Inc. |  | Senior Subordinated Loan | 12.00% PIK |  |  |  | 03/2029 |  |  | 4443 | 4443 | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  | 81205 |  | 1.64% |
| **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** |  |  |  |  |  |  |  |  |  |  |  |  |
| Forward Keystone Holdings, LP |  | Senior Subordinated Loan | 15.00% (8.00% PIK) |  |  |  | 03/2029 |  |  | 3837 | 3837 | (e) |  |
| Forward Keystone Holdings, LP |  | Senior Subordinated Loan | 15.00% (8.00% PIK) |  |  |  | 03/2029 |  |  | 285 | 285 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  |  | 4122 |  | 0.08% |
| **Health Care Equipment and Services** | **Health Care Equipment and Services** | **Health Care Equipment and Services** |  |  |  |  |  |  |  |  |  |  |  |
| AmeriVet Partners Management, Inc. |  | Senior Subordinated Loan | 8.25% PIK |  |  |  | 12/2030 |  |  | 11170 | 9047 | (e) |  |
| Silver Midco 1 GmbH | Germany | Senior Subordinated Loan | 12.50% |  |  |  | 06/2031 |  | € | 1864 | 2111 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  |  | 11158 |  | 0.23% |
| **Insurance** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 15484910 Canada Inc. | Canada | Senior Subordinated Loan | 14.00% PIK |  |  |  | 04/2035 |  | CAD | 2348 | 1687 | (e)(g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Slaine Holdings LLC |  | Senior Subordinated Loan | 10.17% | SOFR (M) | 6.50% |  | 05/2030 |  | 6056 | 6056 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 7743 |  | 0.16% |
| **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** |  |  |  |  |  |  |  |  |  |
| Cardinal Topco Holdings, LP |  | Senior Subordinated Loan | 11.00% PIK |  |  |  | 03/2027 |  | 11 | 11 | (e) |  |
|  |  |  |  |  |  |  |  |  |  | 11 |  | —% |
| **Software and Services** | **Software and Services** |  |  |  |  |  |  |  |  |  |  |  |
| BCTO Ignition Purchaser, Inc. |  | Senior Subordinated Loan | 11.17% PIK | SOFR (Q) | 7.50% |  | 10/2030 |  | 1767 | 1767 | (e) |  |
| Cascade Intermediate II, Inc. |  | Senior Subordinated Loan | 13.00% PIK |  |  |  | 09/2033 |  | 460 | 453 | (e) |  |
| WPT Intermediate Holdco, Inc. |  | Senior Subordinated Loan | 13.25% PIK |  |  |  | 05/2029 |  | 23167 | 20155 | (e) |  |
|  |  |  |  |  |  |  |  |  |  | 22375 |  | 0.45% |
| **Sports, Media and Entertainment** | **Sports, Media and Entertainment** | **Sports, Media and Entertainment** |  |  |  |  |  |  |  |  |  |  |
| 22 HoldCo Limited | United Kingdom | Senior Subordinated Loan | 11.51% PIK | SONIA (S) | 7.50% |  | 08/2033 |  | £2297 | 3040 | (e) |  |
| 22 HoldCo Limited | United Kingdom | Senior Subordinated Loan | 11.58% PIK | SONIA (S) | 7.50% |  | 08/2033 |  | £3745 | 4957 | (e) |  |
| Eagle Football Holdings BidCo Limited | United Kingdom | Senior Subordinated Loan | 20.00% PIK |  |  |  | 12/2026 |  | 31 | 27 | (e)(g) |  |
| Eagle Football Holdings BidCo Limited | United Kingdom | Senior Subordinated Loan |  |  |  |  | 12/2026 |  | 28 | 28 | (e) |  |
| PFL MMA LLC |  | Senior Subordinated Loan | 8.00% PIK |  |  |  | 01/2036 |  | 9 | 7 | (e) |  |
|  |  |  |  |  |  |  |  |  |  | 8059 |  | 0.16% |
| **Transportation** |  |  |  |  |  |  |  |  |  |  |  |  |
| Nordic Ferry Infrastructure AS | Norway | Senior Subordinated Loan | 9.16% | NIBOR (Q) | 5.00% |  | 11/2031 |  | 207385 | 21418 | (e) |  |
| Nordic Ferry Infrastructure AS | Norway | Senior Subordinated Loan | 7.01% | EURIBOR (Q) | 5.00% |  | 11/2031 |  | 17459 | 20180 | (e) |  |
|  |  |  |  |  |  |  |  |  |  | 41598 |  | 0.84% |
| **Utilities** |  |  |  |  |  |  |  |  |  |  |  |  |
| BNZ TopCo B.V. | Netherlands | Senior Subordinated Loan | 8.88% | EURIBOR (Q) | 6.75% |  | 10/2030 |  | 3980 | 4508 | (e)(g) |  |
|  |  |  |  |  |  |  |  |  |  | 4508 |  | 0.09% |
| **TOTAL SUBORDINATED LOANS (Cost $248,524)** | **TOTAL SUBORDINATED LOANS (Cost $248,524)** | **TOTAL SUBORDINATED LOANS (Cost $248,524)** | **TOTAL SUBORDINATED LOANS (Cost $248,524)** |  |  |  |  |  |  | 251114 |  | 5.08% |
| **CORPORATE BONDS(b)(c)** | **CORPORATE BONDS(b)(c)** |  |  |  |  |  |  |  |  |  |  |  |
| **Capital Goods** |  |  |  |  |  |  |  |  |  |  |  |  |
| Wilsonart LLC |  |  | 11.00% |  |  |  | 08/2032 |  | 12900 | 9349 | (d) |  |
|  |  |  |  |  |  |  |  |  |  | 9349 |  | 0.19% |
| **Commercial and Professional Services** | **Commercial and Professional Services** | **Commercial and Professional Services** |  |  |  |  |  |  |  |  |  |  |
| Antenore Bidco SpA | Italy |  | 8.78% |  |  |  | 10/2030 |  | 4850 | 5606 | (e) |  |
| LABL, Inc. |  |  |  |  |  |  | 11/2028 |  | 2212 | 1150 | (d)(e)(i) |  |
| LABL, Inc. |  |  |  |  |  |  | 11/2028 |  | 7789 | 4050 | (d)(e)(i) |  |
| LABL, Inc. |  |  |  |  |  |  | 10/2031 |  | 4790 | 2491 | (d)(e)(i) |  |
| NBLY 2021-1 |  |  | 3.58% |  |  |  | 04/2051 |  | 24 | 23 | (d)(e) |  |
| Neptune BidCo US Inc. |  |  | 9.29% |  |  |  | 04/2029 |  | 8991 | 9007 | (d) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| VRC Companies, LLC |  |  | 12.00% (2.00% PIK) |  |  |  | 06/2028 |  | 27 | 27 | (e) |  |
|  |  |  |  |  |  |  |  |  |  | 22354 |  | 0.45% |
| **Consumer Services** | **Consumer Services** |  |  |  |  |  |  |  |  |  |  |  |
| AUTHB 2021-1 |  |  | 3.73% |  |  |  | 07/2051 |  | 24 | 22 | (d)(e) |  |
| SERV 2020-1 |  |  | 3.34% |  |  |  | 01/2051 |  | 23 | 21 | (d)(e) |  |
|  |  |  |  |  |  |  |  |  |  | 43 |  | —% |
| **Energy** |  |  |  |  |  |  |  |  |  |  |  |  |
| Enviva Partners LP / Enviva Partners Finance Corp |  |  |  |  |  |  | 01/2027 |  | 17217 |  | (d)(e)(i) |  |
| ITT Holdings LLC |  |  | 6.50% |  |  |  | 08/2029 |  | 13884 | 13496 | (d) |  |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp |  |  | 6.00% |  |  |  | 12/2030 |  | 10093 | 10039 | (d) |  |
| Venture Global LNG Inc |  |  | 8.38% |  |  |  | 06/2031 |  | 4997 | 5195 | (d) |  |
|  |  |  |  |  |  |  |  |  |  | 28730 |  | 0.58% |
| **Equity Real Estate Investment Trusts (REITs)** | **Equity Real Estate Investment Trusts (REITs)** | **Equity Real Estate Investment Trusts (REITs)** |  |  |  |  |  |  |  |  |  |  |
| Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL |  |  | 4.50% |  |  |  | 04/2027 |  | 8321 | 8162 | (d) |  |
|  |  |  |  |  |  |  |  |  |  | 8162 |  | 0.17% |
| **Financial Services** | **Financial Services** |  |  |  |  |  |  |  |  |  |  |  |
| BCC Blueprint Investments, LLC |  |  | 9.30% PIK |  |  |  | 09/2026 |  | 916 | 916 | (d)(e) |  |
| HighTower Holding, LLC |  |  | 6.75% |  |  |  | 04/2029 |  | 3280 | 3206 | (d) |  |
| PROSE 2024-3 |  |  | 8.85% |  |  |  | 10/2054 |  | 25000 | 25172 | (d)(e) |  |
| Trinity Capital Inc |  |  | 7.54% |  |  |  | 10/2027 |  | 20300 | 20279 | (e) |  |
| TriplePoint Venture Growth BDC Corp |  |  | 9.11% |  |  |  | 02/2028 |  | 17100 | 16975 | (e) |  |
| WAX 2022-1 |  |  | 5.50% |  |  |  | 03/2052 |  | 18288 | 18147 | (d)(e) |  |
|  |  |  |  |  |  |  |  |  |  | 84695 |  | 1.71% |
| **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** |  |  |  |  |  |  |  |  |  |  |
| Primo Water Holdings Inc / Triton Water Holdings Inc |  |  | 6.25% |  |  |  | 04/2029 |  | 100 | 100 | (d) |  |
|  |  |  |  |  |  |  |  |  |  | 100 |  | —% |
| **Health Care Equipment and Services** | **Health Care Equipment and Services** | **Health Care Equipment and Services** |  |  |  |  |  |  |  |  |  |  |
| Integer Holdings Corp |  |  | 1.88% |  |  |  | 03/2030 |  | 1494 | 1426 |  |  |
| MPH Acquisition Holdings LLC |  |  | 6.00% (0.95% PIK) |  |  |  | 03/2031 |  | 4302 | 2882 | (d) |  |
| Team Health Holdings, Inc. |  |  | 8.38% |  |  |  | 06/2028 |  | 6000 | 5925 | (d) |  |
|  |  |  |  |  |  |  |  |  |  | 10233 |  | 0.21% |
| **Insurance** |  |  |  |  |  |  |  |  |  |  |  |  |
| SQ ABS Issuer, LLC |  |  | 7.80% |  |  |  | 10/2039 |  | 1060 | 1060 | (e) |  |
|  |  |  |  |  |  |  |  |  |  | 1060 |  | 0.02% |
| **Materials** |  |  |  |  |  |  |  |  |  |  |  |  |
| Trident TPI Holdings, Inc. |  |  | 12.75% |  |  |  | 12/2028 |  | 6102 | 5941 | (d) |  |
|  |  |  |  |  |  |  |  |  |  | 5941 |  | 0.12% |
| **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** |  |  |  |  |  |  |  |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| IGEA BIDCO S.P.A | Italy |  | 7.75% |  |  |  | 09/2031 |  | € | 3651 | 4220 | (e) |  |
| IGEA BIDCO S.P.A | Italy |  | 8.73% |  |  |  | 09/2031 |  | € | 757 | 875 | (e) |  |
| MASCO GROUP S.P.A. | Italy |  | 8.73% |  |  |  | 12/2031 |  | € | 2063 | 2384 | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  | 7479 |  | 0.15% |
| **Software and Services** | **Software and Services** | **Software and Services** |  |  |  |  |  |  |  |  |  |  |  |
| Cloud Software Group, Inc. |  |  | 9.00% |  |  |  | 09/2029 |  |  | 100 | 96 | (d) |  |
| Cloud Software Group, Inc. |  |  | 8.25% |  |  |  | 06/2032 |  |  | 3400 | 3216 | (d) |  |
| Practicetek Midco, LLC |  |  | 14.00% PIK |  |  |  | 08/2030 |  |  | 11587 | 11586 | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  | 14898 |  | 0.30% |
| **Sports, Media and Entertainment** | **Sports, Media and Entertainment** | **Sports, Media and Entertainment** |  |  |  |  |  |  |  |  |  |  |  |
| Aventine Holdings II LLC |  |  | 5.12% PIK |  |  |  | 12/2030 |  |  | 16355 | 12594 | (e) |  |
| Eagle Football Holdings BidCo Limited | United Kingdom |  | 20.00% PIK |  |  |  | 12/2026 |  |  | 21 | 17 | (e) |  |
| Eagle Football Holdings BidCo Limited | United Kingdom |  |  |  |  |  | 01/2027 |  |  | 223 | 38 | (e)(i) |  |
| Eagle Football Holdings BidCo Limited | United Kingdom |  |  |  |  |  | 12/2028 |  |  | 1793 | 301 | (e)(i) |  |
| Eagle Football Holdings BidCo Limited | United Kingdom |  | 20.00% PIK |  |  |  | 12/2028 |  |  | 38 | 38 | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  | 12988 |  | 0.26% |
| **Telecommunication Services** | **Telecommunication Services** | **Telecommunication Services** |  |  |  |  |  |  |  |  |  |  |  |
| Zayo Group Holdings, Inc. |  |  | 5.75% |  |  |  | 03/2030 |  |  | 10249 | 10189 | (d) |  |
|  |  |  |  |  |  |  |  |  |  |  | 10189 |  | 0.21% |
| **TOTAL CORPORATE BONDS (Cost $224,699)** | **TOTAL CORPORATE BONDS (Cost $224,699)** | **TOTAL CORPORATE BONDS (Cost $224,699)** |  |  |  |  |  |  |  |  | 216221 |  | 4.38% |
| **COLLATERALIZED LOAN OBLIGATIONS - DEBT(b)(c)(d)(e)** | **COLLATERALIZED LOAN OBLIGATIONS - DEBT(b)(c)(d)(e)** | **COLLATERALIZED LOAN OBLIGATIONS - DEBT(b)(c)(d)(e)** | **COLLATERALIZED LOAN OBLIGATIONS - DEBT(b)(c)(d)(e)** | **COLLATERALIZED LOAN OBLIGATIONS - DEBT(b)(c)(d)(e)** | **COLLATERALIZED LOAN OBLIGATIONS - DEBT(b)(c)(d)(e)** |  |  |  |  |  |  |  |  |
| ABPCI 2022-11A ER | Cayman Islands |  | 10.67% | SOFR (Q) | 7.00% |  | 01/2038 |  |  | 7000 | 6725 |  |  |
| ABPCI 2023-12A ER | Jersey |  | 11.92% | SOFR (Q) | 8.25% |  | 07/2037 |  |  | 2850 | 2810 |  |  |
| ABPCI 2025-20A E |  |  | 9.92% | SOFR (Q) | 6.25% |  | 04/2037 |  |  | 1450 | 1415 |  |  |
| ABPF 2025-2A D | Cayman Islands |  | 10.92% | SOFR (Q) | 7.25% |  | 10/2037 |  |  | 1400 | 1383 |  |  |
| AIMCO 2024-22A E | Jersey |  | 10.17% | SOFR (Q) | 6.50% |  | 04/2037 |  |  | 1875 | 1872 |  |  |
| ANCHC 2019-13A ERR | Cayman Islands |  | 10.17% | SOFR (Q) | 6.50% |  | 04/2038 |  |  | 5000 | 4845 |  |  |
| ATRM 14A ER | Cayman Islands |  | 10.17% | SOFR (Q) | 6.50% |  | 10/2037 |  |  | 5600 | 4506 |  |  |
| ATRM 15A ER | Cayman Islands |  | 10.17% | SOFR (Q) | 6.50% |  | 07/2037 |  |  | 1875 | 1637 |  |  |
| BABSN 2023-1A ER | Cayman Islands |  | 10.37% | SOFR (Q) | 6.70% |  | 04/2038 |  |  | 900 | 883 |  |  |
| BALLY 2024-26A D | Cayman Islands |  | 9.77% | SOFR (Q) | 6.10% |  | 07/2037 |  |  | 1800 | 1766 |  |  |
| BSP 2016-9A ER2 | Cayman Islands |  | 9.57% | SOFR (Q) | 5.90% |  | 10/2037 |  |  | 3125 | 3062 |  |  |
| BSP 2018-14A ER | Cayman Islands |  | 9.82% | SOFR (Q) | 6.15% |  | 10/2037 |  |  | 5500 | 5424 |  |  |
| BSP 2022-28A ER | Cayman Islands |  | 9.07% | SOFR (Q) | 5.40% |  | 10/2037 |  |  | 500 | 490 |  |  |
| BSP 2023-30A ER | Jersey |  | 9.12% | SOFR (Q) | 5.45% |  | 04/2038 |  |  | 2000 | 1958 |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | **% of Net Assets** |
| BSP 2023-31A ER | Jersey |  | 10.84% | SOFR (Q) | 7.17% |  | 04/2038 |  | 375 | 368 |  |
| BSP 2024-38A E | Cayman Islands |  | 8.67% | SOFR (Q) | 5.00% |  | 01/2038 |  | 3750 | 3672 |  |
| BYRDPK 2025-1A M | Cayman Islands |  |  |  |  |  | 07/2038 |  | 860 | 17 |  |
| CAVU 2021-1A ER | Cayman Islands |  | 10.67% | SOFR (Q) | 7.00% |  | 07/2037 |  | 1250 | 1162 |  |
| CAVU 2022-2A D2R | Cayman Islands |  | 8.34% |  |  |  | 03/2038 |  | 2575 | 2586 |  |
| CAVU 2022-2A ER | Cayman Islands |  | 10.12% | SOFR (Q) | 6.45% |  | 03/2038 |  | 2950 | 2943 |  |
| CGMS 2020-1A DRR | Cayman Islands |  | 8.62% | SOFR (Q) | 4.95% |  | 01/2038 |  | 3750 | 3501 |  |
| CGMS 2022-2A ER | Cayman Islands |  | 10.62% | SOFR (Q) | 6.95% |  | 01/2038 |  | 2850 | 2795 |  |
| CGMS 2022-5A ER | Cayman Islands |  | 10.77% | SOFR (Q) | 7.10% |  | 10/2037 |  | 4190 | 4100 |  |
| CGMS 2024-1A E | Cayman Islands |  | 10.59% | SOFR (Q) | 6.92% |  | 04/2037 |  | 1096 | 1096 |  |
| CGMS 2024-3A E | Cayman Islands |  | 10.07% | SOFR (Q) | 6.40% |  | 07/2036 |  | 3250 | 3191 |  |
| CGMS 2024-5A E | Cayman Islands |  | 9.32% | SOFR (Q) | 5.65% |  | 10/2036 |  | 1500 | 1471 |  |
| CIFC 2018-5A ER | Cayman Islands |  | 10.27% | SOFR (Q) | 6.60% |  | 07/2038 |  | 650 | 635 |  |
| CIFC 2021-4A ER | Cayman Islands |  | 9.87% | SOFR (Q) | 6.20% |  | 07/2037 |  | 1000 | 985 |  |
| CIFC 2021-5A ER | Cayman Islands |  | 8.77% | SOFR (Q) | 5.10% |  | 01/2038 |  | 3450 | 3399 |  |
| CIFC 2022-6A ER | Cayman Islands |  | 9.42% | SOFR (Q) | 5.75% |  | 10/2038 |  | 438 | 430 |  |
| CIFC 2022-7A ER | Cayman Islands |  | 9.02% | SOFR (Q) | 5.35% |  | 01/2038 |  | 688 | 674 |  |
| CIFC 2024-1A E | Cayman Islands |  | 10.27% | SOFR (Q) | 6.60% |  | 04/2037 |  | 375 | 368 |  |
| CPTPK 2024-1A E | Jersey |  | 9.67% | SOFR (Q) | 6.00% |  | 07/2037 |  | 1750 | 1667 |  |
| DRSLF 2022-104A ER | Cayman Islands |  | 11.06% | SOFR (Q) | 7.40% |  | 08/2034 |  | 5756 | 5469 |  |
| ELM12 2021-5A ER | Cayman Islands |  | 9.57% | SOFR (Q) | 5.90% |  | 10/2037 |  | 1475 | 1380 |  |
| ELM24 2023-3A ER | Cayman Islands |  | 8.77% | SOFR (Q) | 5.10% |  | 01/2038 |  | 2000 | 1972 |  |
| ELM30 2024-6A E | Cayman Islands |  | 8.92% | SOFR (Q) | 5.25% |  | 07/2037 |  | 1250 | 1226 |  |
| ELMW4 2020-1A ER | Cayman Islands |  | 9.82% | SOFR (Q) | 6.15% |  | 04/2037 |  | 2738 | 2564 |  |
| ELMW8 2021-1A ER | Cayman Islands |  | 9.92% | SOFR (Q) | 6.25% |  | 04/2037 |  | 3000 | 2804 |  |
| GLM 2022-12A ER | Jersey |  | 9.37% | SOFR (Q) | 5.70% |  | 07/2037 |  | 2100 | 2060 |  |
| HAMLN 2024-1A E | Jersey |  | 9.07% | SOFR (Q) | 5.40% |  | 10/2037 |  | 2018 | 1929 |  |
| INVCO 2023-2A ER | Jersey |  | 11.55% | SOFR (Q) | 7.88% |  | 04/2038 |  | 1600 | 1554 |  |
| KKR 2024-53A E | Cayman Islands |  | 10.17% | SOFR (Q) | 6.50% |  | 01/2038 |  | 2235 | 2234 |  |
| KLLM 2022-10A ER | Cayman Islands |  | 8.57% | SOFR (Q) | 4.90% |  | 01/2038 |  | 2750 | 2527 |  |
| KLLM 2024-15A E | Cayman Islands |  | 10.37% | SOFR (Q) | 6.70% |  | 07/2037 |  | 538 | 502 |  |
| KLLM 2A ER2 | Cayman Islands |  | 11.02% | SOFR (Q) | 7.35% |  | 10/2037 |  | 250 | 230 |  |
| KLLM 6A ER2 | Cayman Islands |  | 10.92% | SOFR (Q) | 7.25% |  | 10/2037 |  | 1820 | 1684 |  |
| KLLM 9A ER | Cayman Islands |  | 10.02% | SOFR (Q) | 6.35% |  | 01/2038 |  | 2000 | 1759 |  |
| MAGNE 2022-33A ER | Cayman Islands |  | 9.22% | SOFR (Q) | 5.55% |  | 10/2037 |  | 5875 | 5843 |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | **% of Net Assets** |
| MAGNE 2025-43A E | Cayman Islands |  | 10.17% | SOFR (Q) | 6.50% |  | 07/2038 |  | 255 | 254 |  |
| MDPK 2014-14A FR | Cayman Islands |  | 11.70% | SOFR (Q) | 8.03% |  | 10/2030 |  | 1030 | 833 |  |
| MDPK 2016-20A ERR | Cayman Islands |  | 10.07% | SOFR (Q) | 6.40% |  | 10/2037 |  | 2728 | 2330 |  |
| MDPK 2018-30A D2R | Cayman Islands |  | 8.50% |  |  |  | 07/2037 |  | 750 | 749 |  |
| MDPK 2018-31A ER | Cayman Islands |  | 10.07% | SOFR (Q) | 6.40% |  | 07/2037 |  | 650 | 577 |  |
| MDPK 2018-32A ER2 | Cayman Islands |  | 10.07% | SOFR (Q) | 6.40% |  | 07/2037 |  | 6050 | 5258 |  |
| MDPK 2019-34A ERR | Cayman Islands |  | 10.17% | SOFR (Q) | 6.50% |  | 10/2037 |  | 1700 | 1481 |  |
| MDPK 2021-59A ER | Cayman Islands |  | 10.07% | SOFR (Q) | 6.40% |  | 04/2037 |  | 2860 | 2474 |  |
| MDPK 2022-60A ER | Cayman Islands |  | 10.17% | SOFR (Q) | 6.50% |  | 10/2037 |  | 5625 | 5149 |  |
| MDPK 2023-63A ER | Cayman Islands |  | 9.67% | SOFR (Q) | 6.00% |  | 07/2038 |  | 1500 | 1381 |  |
| MDPK 2024-66A E | Cayman Islands |  | 9.17% | SOFR (Q) | 5.50% |  | 10/2037 |  | 2500 | 2356 |  |
| MDPK 2024-68A E | Jersey |  | 8.77% | SOFR (Q) | 5.10% |  | 01/2038 |  | 2375 | 2212 |  |
| NEUB 2025-60A E | Cayman Islands |  | 10.15% | SOFR (Q) | 6.48% |  | 04/2039 |  | 1100 | 1098 |  |
| NMC CLO-2A ER | Cayman Islands |  | 9.37% | SOFR (Q) | 5.70% |  | 01/2038 |  | 938 | 910 |  |
| OAKC 2016-13A ER2 | Cayman Islands |  | 9.42% | SOFR (Q) | 5.75% |  | 10/2037 |  | 1220 | 1196 |  |
| OAKC 2020-6A ER2 | Cayman Islands |  | 8.92% | SOFR (Q) | 5.25% |  | 10/2037 |  | 1100 | 1082 |  |
| OAKC 2021-10RA E | Cayman Islands |  | 8.52% | SOFR (Q) | 4.85% |  | 07/2038 |  | 1800 | 1738 |  |
| OAKC 2021-9A ER | Cayman Islands |  | 9.17% | SOFR (Q) | 5.50% |  | 10/2037 |  | 2050 | 2038 |  |
| OCP 2015-10A ER3 | Cayman Islands |  | 9.02% | SOFR (Q) | 5.35% |  | 01/2038 |  | 1000 | 979 |  |
| OCPA 2023-29A ER | Jersey |  | 8.67% | SOFR (Q) | 5.00% |  | 01/2036 |  | 1000 | 950 |  |
| OCPA 2025-41A D2 | Cayman Islands |  | 8.00% |  |  |  | 04/2037 |  | 1500 | 1500 |  |
| OCT 61 2023-2A ER | Cayman Islands |  | 11.56% | SOFR (Q) | 7.89% |  | 04/2038 |  | 850 | 835 |  |
| OCT 63 2024-2A E | Cayman Islands |  | 10.17% | SOFR (Q) | 6.50% |  | 07/2037 |  | 1167 | 1146 |  |
| PIPK 2025-18A E | Cayman Islands |  | 9.42% | SOFR (Q) | 5.75% |  | 04/2038 |  | 1250 | 1225 |  |
| PXLY 2024-1A E | Cayman Islands |  | 8.67% | SOFR (Q) | 5.00% |  | 01/2037 |  | 6050 | 5589 |  |
| SIXST 2022-21A ER | Cayman Islands |  | 9.42% | SOFR (Q) | 5.75% |  | 10/2037 |  | 2025 | 1962 |  |
| SIXST 2024-27A E | Cayman Islands |  | 8.92% | SOFR (Q) | 5.25% |  | 01/2038 |  | 1750 | 1694 |  |
| SIXST 2025-28A E | Cayman Islands |  | 9.12% | SOFR (Q) | 5.45% |  | 04/2038 |  | 425 | 416 |  |
| STKPK 2022-1A ER | Jersey |  | 9.82% | SOFR (Q) | 6.15% |  | 10/2037 |  | 1688 | 1459 |  |
| SYMP 2022-33A E1R | Jersey |  | 9.02% | SOFR (Q) | 5.35% |  | 01/2038 |  | 1250 | 1155 |  |
| SYMP 2023-40A ER | Bermuda |  | 8.92% | SOFR (Q) | 5.25% |  | 01/2038 |  | 1500 | 1469 |  |
| VOYA 2021-3A D2R | Cayman Islands |  | 8.15% |  |  |  | 04/2038 |  | 1875 | 1879 |  |
| VOYA 2021-3A ER | Cayman Islands |  | 9.57% | SOFR (Q) | 5.90% |  | 04/2038 |  | 2500 | 2450 |  |
| VOYA 2024-1A E | Cayman Islands |  | 10.32% | SOFR (Q) | 6.65% |  | 04/2037 |  | 1682 | 1679 |  |
| VOYA 2025-2A E | Cayman Islands |  | 9.92% | SOFR (Q) | 6.25% |  | 07/2038 |  | 2775 | 2774 |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
|  |  |  |  |  |  |  |  |  |  | 171850 |  | 3.48% |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS - DEBT (Cost $180,641)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - DEBT (Cost $180,641)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - DEBT (Cost $180,641)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - DEBT (Cost $180,641)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - DEBT (Cost $180,641)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - DEBT (Cost $180,641)** |  |  |  |  | 171850 |  | 3.48% |
| **COLLATERALIZED LOAN OBLIGATIONS - EQUITY(d)(e)** | **COLLATERALIZED LOAN OBLIGATIONS - EQUITY(d)(e)** | **COLLATERALIZED LOAN OBLIGATIONS - EQUITY(d)(e)** | **COLLATERALIZED LOAN OBLIGATIONS - EQUITY(d)(e)** | **COLLATERALIZED LOAN OBLIGATIONS - EQUITY(d)(e)** |  |  |  |  |  |  |  |  |
| AIMCO 2020-11A SUB | Cayman Islands |  | 15.63% |  |  |  | 10/2034 |  | 7971 | 5251 |  |  |
| AIMCO 2021-16A SUB | Cayman Islands |  | 10.59% |  |  |  | 07/2037 |  | 5882 | 3193 |  |  |
| AIMCO 2023-20A SUB | Cayman Islands |  | 18.38% |  |  |  | 10/2038 |  | 1543 | 1228 |  |  |
| AIMCO 2024-22A SUB | Jersey |  | 10.26% |  |  |  | 04/2037 |  | 700 | 482 |  |  |
| AIMCO 2025-23A SUB | Cayman Islands |  | 16.70% |  |  |  | 04/2038 |  | 8870 | 6788 |  |  |
| AIMCO 2025-28A SUB | Cayman Islands |  | 11.50% |  |  |  | 01/2039 |  | 8890 | 8293 |  |  |
| AIMCO CLO 30, LTD. |  |  | 21.00% |  |  |  | 11/2030 |  | 1190 | 1190 |  |  |
| ANCHC 2021-19A SUB | Cayman Islands |  | 11.73% |  |  |  | 10/2038 |  | 1120 | 603 |  |  |
| ANCHC 2021-20A SUB | Cayman Islands |  | 4.25% |  |  |  | 01/2035 |  | 3500 | 768 |  |  |
| ANCHC 2021-20X SUB | Cayman Islands |  | 0.86% |  |  |  | 01/2035 |  | 1150 | 252 |  |  |
| ANCHF 2015-1A SBR2 | Cayman Islands |  |  |  |  |  | 07/2037 |  | 4860 | 1210 |  |  |
| ANCHF 2015-2A SBR | Cayman Islands |  |  |  |  |  | 04/2038 |  | 4550 | 420 |  |  |
| ANCHF 2016-3A SUBR | Cayman Islands |  |  |  |  |  | 01/2039 |  | 3360 | 1989 |  |  |
| ANCHF 2016-4A SUB | Cayman Islands |  |  |  |  |  | 04/2039 |  | 4830 | 2478 |  |  |
| ANCHF 2018-5A SUB2 | Cayman Islands |  |  |  |  |  | 04/2036 |  | 4682 | 158 |  |  |
| ANCHF 2018-6A SUB2 | Cayman Islands |  |  |  |  |  | 07/2036 |  | 1800 | 29 |  |  |
| ANCHF 2019-7A SUB2 | Cayman Islands |  |  |  |  |  | 04/2037 |  | 1420 | 234 |  |  |
| ANCHF 2019-8A SUB | Cayman Islands |  |  |  |  |  | 07/2037 |  | 404 | 183 |  |  |
| ANCHF 2019-9A SUB | Cayman Islands |  |  |  |  |  | 10/2037 |  | 930 | 551 |  |  |
| ANCHF 2020-10A SUB | Cayman Islands |  |  |  |  |  | 04/2038 |  | 1731 | 1089 |  |  |
| ANCHF 2025-18A SUB | Cayman Islands |  | 8.38% |  |  |  | 10/2040 |  | 18608 | 16354 |  |  |
| ANCHF 2025-19A SUB | Cayman Islands |  | 15.80% |  |  |  | 10/2040 |  | 20560 | 16181 |  |  |
| ANCHF 2026-20 SUB Warehouse |  |  | 8.30% |  |  |  | 06/2026 |  | 5065 | 5065 |  |  |
| ANCHF 2026-20A SUB | Cayman Islands |  |  |  |  |  | 04/2042 |  | 5065 | 5065 | (k) |  |
| ATRM 14A SUB | Cayman Islands |  | 8.71% |  |  |  | 10/2037 |  | 17839 | 5524 |  |  |
| ATRM 14X SUB | Cayman Islands |  | 6.00% |  |  |  | 10/2037 |  | 510 | 158 |  |  |
| ATRM 15A SUB | Cayman Islands |  | 6.54% |  |  |  | 01/2031 |  | 4080 | 906 |  |  |
| BALLY 2022-21X SUB | Jersey |  | 9.44% |  |  |  | 10/2037 |  | 2730 | 1638 |  |  |
| BALLY 2024-26A SUB | Cayman Islands |  | 11.84% |  |  |  | 07/2037 |  | 2760 | 1423 |  |  |
| BCC 2017-2A SUB | Cayman Islands |  | 15.83% |  |  |  | 07/2037 |  | 7371 | 2127 |  |  |
| BCC 2018-1A SUB | Cayman Islands |  |  |  |  |  | 04/2031 |  | 1420 | 13 |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | **% of Net Assets** |
| BCC 2019-2A SUB | Cayman Islands |  | 82.06% |  |  |  | 10/2032 |  | 810 | 140 |  |
| BCC 2021-2A SUB | Cayman Islands |  | 41.92% |  |  |  | 07/2034 |  | 1000 | 181 |  |
| BCC 2022-1A SUB | Cayman Islands |  | 16.78% |  |  |  | 10/2038 |  | 26712 | 6365 |  |
| BCC 2024-2A SUB | Jersey |  | 8.41% |  |  |  | 07/2037 |  | 1620 | 783 |  |
| BERRY 2024-1A M | Jersey |  |  |  |  |  | 10/2037 |  | 3580 | 194 |  |
| BERRY 2024-1A SUB | Jersey |  | 10.63% |  |  |  | 10/2037 |  | 3580 | 1847 |  |
| BSP 2023-32A SUB | Jersey |  | 16.62% |  |  |  | 10/2038 |  | 740 | 563 |  |
| BSP 2024-37A SUB | Cayman Islands |  | 13.31% |  |  |  | 01/2038 |  | 6670 | 5008 |  |
| BYRDPK 2025-1A SUB | Cayman Islands |  | 16.58% |  |  |  | 07/2038 |  | 860 | 500 |  |
| CEDF 2021-14A SUB | Cayman Islands |  | 12.29% |  |  |  | 07/2033 |  | 1450 | 428 |  |
| CGMS 2018-3A SUB | Cayman Islands |  |  |  |  |  | 10/2030 |  | 750 | 1 |  |
| CGMS 2018-4A SUB | Cayman Islands |  | 10.78% |  |  |  | 01/2031 |  | 3487 | 1090 |  |
| CGMS 2019-3A SUB | Cayman Islands |  | 10.55% |  |  |  | 04/2037 |  | 6943 | 3460 |  |
| CGMS 2021-2A SUB | Cayman Islands |  | 13.44% |  |  |  | 04/2038 |  | 6457 | 3321 |  |
| CGMS 2021-4A SUB | Cayman Islands |  |  |  |  |  | 04/2034 |  | 3060 | 480 |  |
| CGMS 2021-5A SUB | Cayman Islands |  | 12.63% |  |  |  | 03/2038 |  | 500 | 208 |  |
| CGMS 2021-8A SUBA | Cayman Islands |  | 12.89% |  |  |  | 10/2034 |  | 1162 | 447 |  |
| CGMS 2022-6A SUB | Cayman Islands |  | 16.22% |  |  |  | 10/2038 |  | 836 | 554 |  |
| CGMS 2023-1A SUB | Cayman Islands |  | 14.22% |  |  |  | 07/2037 |  | 8000 | 4148 |  |
| CGMS 2023-2A SUB | Cayman Islands |  | 15.64% |  |  |  | 07/2038 |  | 8377 | 4681 |  |
| CGMS 2023-5A SUB | Cayman Islands |  |  |  |  |  | 01/2036 |  | 3080 | 878 |  |
| CGMS 2024-3A SUB | Cayman Islands |  | 11.52% |  |  |  | 07/2036 |  | 3750 | 1987 |  |
| CGMS 2024-5A INC | Cayman Islands |  | 11.40% |  |  |  | 10/2036 |  | 2580 | 1536 |  |
| CGMS 2025-5A SUB | Cayman Islands |  | 12.10% |  |  |  | 01/2039 |  | 7675 | 6704 |  |
| CIFC 2018-1A SUB | Cayman Islands |  | 8.84% |  |  |  | 01/2038 |  | 3982 | 1130 |  |
| CIFC 2018-5A SUB | Cayman Islands |  | 10.42% |  |  |  | 07/2038 |  | 500 | 187 |  |
| CIFC 2019-1A SUB | Cayman Islands |  | 16.05% |  |  |  | 10/2037 |  | 8702 | 3858 |  |
| CIFC 2019-5A INC | Cayman Islands |  | 17.16% |  |  |  | 10/2038 |  | 1230 | 706 |  |
| CIFC 2020-3A SUB | Cayman Islands |  | 14.03% |  |  |  | 10/2038 |  | 1547 | 821 |  |
| CIFC 2021-2A SUB | Cayman Islands |  | 13.24% |  |  |  | 04/2034 |  | 5508 | 2412 |  |
| CIFC 2021-5A SUB | Cayman Islands |  | 12.24% |  |  |  | 01/2038 |  | 7301 | 3652 |  |
| CIFC 2021-7A SUB | Cayman Islands |  | 15.44% |  |  |  | 01/2035 |  | 250 | 128 |  |
| CIFC 2022-2A SUBB | Cayman Islands |  | 12.78% |  |  |  | 04/2035 |  | 1900 | 663 |  |
| CIFC 2022-5A SUB | Cayman Islands |  | 15.92% |  |  |  | 03/2038 |  | 10376 | 5901 |  |
| CIFC 2024-3A SUB | Cayman Islands |  | 8.74% |  |  |  | 07/2037 |  | 680 | 422 |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | **% of Net Assets** |
| CIFC 2024-4A SUB | Cayman Islands |  | 11.33% |  |  |  | 10/2037 |  | 3570 | 2445 |  |
| CIFC 2025-3A SUB | Cayman Islands |  | 12.92% |  |  |  | 07/2038 |  | 7712 | 5978 |  |
| CIFC 2025-4A SUB | Cayman Islands |  | 12.97% |  |  |  | 10/2038 |  | 8240 | 6160 |  |
| CIFC 2025-7A SUB | Cayman Islands |  | 13.17% |  |  |  | 01/2039 |  | 9135 | 7989 |  |
| CLRMPK 2025-1A M | Cayman Islands |  |  |  |  |  | 04/2038 |  | 12479 | 365 |  |
| CLRMPK 2025-1A SUB | Cayman Islands |  | 13.91% |  |  |  | 04/2038 |  | 12479 | 7075 |  |
| DCLO 2021-1A SUB | Cayman Islands |  | 14.10% |  |  |  | 10/2037 |  | 1445 | 1068 |  |
| DCLO 2025-9A SUB | Cayman Islands |  | 17.95% |  |  |  | 04/2038 |  | 1120 | 836 |  |
| DRSLF 2022-98A SUB | Cayman Islands |  | 24.77% |  |  |  | 04/2035 |  | 4000 | 1131 |  |
| DRSLF 2022-98X SUB | Cayman Islands |  | 24.77% |  |  |  | 04/2035 |  | 1000 | 283 |  |
| ELM11 2021-4A SUB | Cayman Islands |  | 15.28% |  |  |  | 10/2034 |  | 4320 | 2473 |  |
| ELM15 2022-2A INC | Jersey |  | 12.68% |  |  |  | 04/2035 |  | 3050 | 1209 |  |
| ELM24 2023-3A SUB | Cayman Islands |  | 9.72% |  |  |  | 12/2033 |  | 1555 | 680 |  |
| ELM26 2024-1A SUB | Cayman Islands |  | 7.78% |  |  |  | 04/2037 |  | 865 | 430 |  |
| ELM32 2024-8A SUB | Cayman Islands |  | 11.16% |  |  |  | 10/2037 |  | 3450 | 1896 |  |
| ELM35 2024-11A SUB | Cayman Islands |  | 10.95% |  |  |  | 10/2037 |  | 1990 | 1309 |  |
| ELM44 2025-7A SUB | Cayman Islands |  | 11.88% |  |  |  | 10/2038 |  | 11760 | 8910 |  |
| ELMW8 2021-1A SUB | Cayman Islands |  | 9.21% |  |  |  | 01/2034 |  | 2003 | 312 |  |
| ELMW8 2021-1X SUB | Cayman Islands |  | 9.18% |  |  |  | 01/2034 |  | 385 | 60 |  |
| HPPK 2024-1A SUB | Jersey |  | 13.23% |  |  |  | 10/2037 |  | 2900 | 1542 |  |
| INVCO 2021-2A SUB | Cayman Islands |  |  |  |  |  | 07/2034 |  | 440 | 67 |  |
| INVCO 2021-2A Y | Cayman Islands |  |  |  |  |  | 07/2034 |  | 44 | 9 |  |
| INVCO 2021-3A SUB | Cayman Islands |  | 8.84% |  |  |  | 10/2034 |  | 2700 | 498 |  |
| INVCO 2021-3A Y | Cayman Islands |  |  |  |  |  | 10/2034 |  | 270 | 60 |  |
| INVCO 2021-3X SUB | Cayman Islands |  | 8.84% |  |  |  | 10/2034 |  | 957 | 177 |  |
| INVCO 2021-3X Y | Cayman Islands |  |  |  |  |  | 10/2034 |  | 96 | 21 |  |
| INVCO 2023-1A SUB | Jersey |  | 16.80% |  |  |  | 04/2037 |  | 2695 | 1260 |  |
| INVCO 2023-1A Y | Jersey |  |  |  |  |  | 04/2037 |  | 270 | 101 |  |
| KKR 2024-50A SUB | Cayman Islands |  | 6.14% |  |  |  | 04/2037 |  | 1948 | 760 |  |
| KKR 2024-53A SUB | Cayman Islands |  | 10.89% |  |  |  | 01/2038 |  | 7000 | 4419 |  |
| KKR 2024-56A SUB | Cayman Islands |  | 13.15% |  |  |  | 10/2037 |  | 4240 | 2704 |  |
| KKR 32A SUB | Cayman Islands |  | 23.60% |  |  |  | 04/2037 |  | 770 | 265 |  |
| KLLM 2024-18A SUB | Cayman Islands |  | 13.84% |  |  |  | 01/2038 |  | 8160 | 4531 |  |
| KLLM 2024-20A SUB | Cayman Islands |  | 13.98% |  |  |  | 01/2038 |  | 11050 | 6903 |  |
| KLLM 7A SUB | Cayman Islands |  | 8.49% |  |  |  | 04/2037 |  | 4000 | 969 |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| MAGNE 2020-28A SUB | Cayman Islands |  | 13.93% |  |  |  | 01/2035 |  | 9666 | 5150 |  |  |
| MAGNE 2024-38A SUB |  |  | 8.20% |  |  |  | 04/2037 |  | 362 | 215 |  |  |
| MAGNE 2024-42A SUB | Cayman Islands |  | 13.56% |  |  |  | 01/2038 |  | 680 | 430 |  |  |
| MAGNE 2024-44A SUB |  |  | 12.52% |  |  |  | 10/2037 |  | 4670 | 3146 |  |  |
| MAGNE 2025-43A SUB | Cayman Islands |  | 15.55% |  |  |  | 07/2038 |  | 1160 | 780 |  |  |
| MAGNE 2025-48A SUB | Cayman Islands |  | 9.98% |  |  |  | 10/2038 |  | 9560 | 6805 |  |  |
| MAGNE 2025-51A SUB | Cayman Islands |  | 10.82% |  |  |  | 10/2038 |  | 10940 | 8443 |  |  |
| MAGNE 2026-55A SUB | Cayman Islands |  |  |  |  |  | 04/2039 |  | 9595 | 8636 | (k) |  |
| Magnetite LV, Limited | Cayman Islands |  | 22.00% |  |  |  | 11/2026 |  | 5593 | 5593 |  |  |
| MDPK 2015-17A SUB | Cayman Islands |  | 9.47% |  |  |  | 07/2045 |  | 35192 | 2432 |  |  |
| MDPK 2015-17X SUB | Cayman Islands |  | 9.47% |  |  |  | 07/2030 |  | 3660 | 253 |  |  |
| MDPK 2016-22A SUB | Cayman Islands |  | 13.88% |  |  |  | 01/2033 |  | 10434 | 3281 |  |  |
| MDPK 2018-28A SUB | Cayman Islands |  | 9.50% |  |  |  | 07/2030 |  | 1750 | 380 |  |  |
| MDPK 2018-30A SUB | Cayman Islands |  | 9.03% |  |  |  | 07/2027 |  | 12921 | 3892 |  |  |
| MDPK 2018-31A SUB | Cayman Islands |  | 8.60% |  |  |  | 07/2037 |  | 6206 | 1582 |  |  |
| MDPK 2018-32A SUB | Cayman Islands |  | 10.55% |  |  |  | 01/2048 |  | 4105 | 1128 |  |  |
| MDPK 2018-32X SUB | Cayman Islands |  | 9.41% |  |  |  | 01/2048 |  | 710 | 195 |  |  |
| MDPK 2019-34A SUB | Cayman Islands |  | 8.77% |  |  |  | 04/2048 |  | 870 | 235 |  |  |
| MDPK 2019-37A SUB | Cayman Islands |  | 7.40% |  |  |  | 04/2037 |  | 9909 | 3159 |  |  |
| MDPK 2021-38A SUB | Cayman Islands |  | 10.97% |  |  |  | 10/2038 |  | 1770 | 745 |  |  |
| MDPK 2021-50A SUB | Cayman Islands |  | 34.31% |  |  |  | 04/2034 |  | 2500 | 602 |  |  |
| MDPK 2021-59A SUB | Cayman Islands |  | 6.11% |  |  |  | 04/2037 |  | 5865 | 1726 |  |  |
| MDPK 2021-59X SUB | Cayman Islands |  | 3.55% |  |  |  | 04/2037 |  | 1500 | 441 |  |  |
| MDPK 2022-53A SUB | Cayman Islands |  | 5.81% |  |  |  | 04/2035 |  | 6600 | 1269 |  |  |
| MDPK 2022-55A SUB | Cayman Islands |  | 19.47% |  |  |  | 07/2037 |  | 3025 | 1143 |  |  |
| MDPK 2022-60A SUB | Cayman Islands |  | 6.94% |  |  |  | 10/2037 |  | 691 | 354 |  |  |
| MDPK 2023-63A SUB | Cayman Islands |  | 10.82% |  |  |  | 07/2038 |  | 7343 | 3761 |  |  |
| MDPK 2024-66A SUB | Cayman Islands |  | 12.41% |  |  |  | 10/2037 |  | 1910 | 1114 |  |  |
| MDPK 2024-67A SUB | Cayman Islands |  | 8.88% |  |  |  | 04/2037 |  | 265 | 126 |  |  |
| MDPK 2025-71A SUB | Cayman Islands |  | 16.64% |  |  |  | 04/2038 |  | 3000 | 1817 |  |  |
| MDPK 2025-72A SUB | Cayman Islands |  | 13.54% |  |  |  | 07/2038 |  | 8300 | 6332 |  |  |
| MDPK 2025-75A SUB | Cayman Islands |  | 11.70% |  |  |  | 01/2039 |  | 11755 | 9742 |  |  |
| OAKC 2012-7A SUB | Cayman Islands |  | 11.37% |  |  |  | 02/2038 |  | 500 | 210 |  |  |
| OAKC 2015-11A SUB | Cayman Islands |  | 7.88% |  |  |  | 04/2037 |  | 500 | 215 |  |  |
| OAKC 2015-12A SUB | Cayman Islands |  | 6.35% |  |  |  | 04/2037 |  | 12070 | 4979 |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | **% of Net Assets** |
| OAKC 2016-13A SUB | Cayman Islands |  | 7.87% |  |  |  | 10/2037 |  | 2320 | 964 |  |
| OAKC 2016-13X SUB | Cayman Islands |  | 7.87% |  |  |  | 01/2030 |  | 1100 | 457 |  |
| OAKC 2017-14A SUB | Cayman Islands |  | 10.25% |  |  |  | 07/2037 |  | 3043 | 1759 |  |
| OAKC 2017-15A SUB | Cayman Islands |  | 8.06% |  |  |  | 01/2030 |  | 10142 | 3803 |  |
| OAKC 2018-1A SUB | Cayman Islands |  | 8.33% |  |  |  | 04/2037 |  | 1913 | 1209 |  |
| OAKC 2019-2A SUB | Cayman Islands |  | 11.11% |  |  |  | 01/2038 |  | 670 | 404 |  |
| OAKC 2019-3A SUB | Cayman Islands |  | 9.43% |  |  |  | 07/2032 |  | 3110 | 1666 |  |
| OAKC 2020-5A SUB | Cayman Islands |  | 8.60% |  |  |  | 10/2037 |  | 3370 | 2252 |  |
| OAKC 2020-6A SUB | Cayman Islands |  | 9.06% |  |  |  | 10/2037 |  | 3209 | 2450 |  |
| OAKC 2021-16A SUB | Cayman Islands |  | 13.10% |  |  |  | 10/2034 |  | 5988 | 3434 |  |
| OAKC 2021-8A SUB | Cayman Islands |  | 11.26% |  |  |  | 01/2038 |  | 640 | 367 |  |
| OAKC 2021-9A SUB | Cayman Islands |  | 9.67% |  |  |  | 10/2037 |  | 1190 | 830 |  |
| OCP 2015-10A SUB | Cayman Islands |  | 16.89% |  |  |  | 01/2038 |  | 11130 | 4113 |  |
| OCP 2018-15A SUB | Cayman Islands |  | 12.20% |  |  |  | 07/2031 |  | 12753 | 4613 |  |
| OCP 2021-21A SUB | Cayman Islands |  | 15.20% |  |  |  | 01/2038 |  | 1480 | 745 |  |
| OCP 2022-24A SUB | Cayman Islands |  | 19.58% |  |  |  | 10/2037 |  | 1710 | 758 |  |
| OCP 2023-30A SUB | Jersey |  | 19.58% |  |  |  | 01/2039 |  | 3971 | 2838 |  |
| OCP 2024-34A SUB |  |  | 10.47% |  |  |  | 10/2037 |  | 750 | 437 |  |
| OCP 2025-48A SUB | Cayman Islands |  | 10.70% |  |  |  | 12/2038 |  | 8270 | 6720 |  |
| OCP 2026-49A SUB | Cayman Islands |  |  |  |  |  | 04/2039 |  | 315 | 262 |  |
| OHACP 2024-17A SUB | Cayman Islands |  | 11.31% |  |  |  | 01/2038 |  | 2070 | 1414 |  |
| OHALF 2013-1A SUB | Cayman Islands |  | 10.94% |  |  |  | 04/2037 |  | 1935 | 541 |  |
| OHALF 2016-1A SUB | Cayman Islands |  | 14.96% |  |  |  | 07/2037 |  | 10837 | 4994 |  |
| PXLY 2024-1A M | Cayman Islands |  |  |  |  |  | 01/2037 |  | 40225 | 1609 |  |
| PXLY 2024-1A SUB | Cayman Islands |  | 11.82% |  |  |  | 01/2037 |  | 40225 | 19602 |  |
| RRAM 2021-17A SUB | Cayman Islands |  | 15.75% |  |  |  | 07/2034 |  | 1000 | 251 |  |
| RRAM 2021-19A SUB | Cayman Islands |  | 15.79% |  |  |  | 10/2121 |  | 1226 | 816 |  |
| RRAM 2022-21A SUB | Bermuda |  | 8.70% |  |  |  | 01/2123 |  | 13070 | 5950 |  |
| RRAM 2023-26A SUB | Cayman Islands |  | 17.19% |  |  |  | 04/2123 |  | 14483 | 8369 |  |
| RRAM 2023-27A SUB | Bermuda |  | 14.61% |  |  |  | 10/2123 |  | 3160 | 2384 |  |
| RRAM 2024-29RA SUB | Cayman Islands |  | 13.98% |  |  |  | 07/2039 |  | 8025 | 4125 |  |
| RRAM 2024-30A SUB | Bermuda |  | 10.69% |  |  |  | 07/2036 |  | 6000 | 4177 |  |
| RRAM 2024-31A SUB | Cayman Islands |  | 13.29% |  |  |  | 10/2039 |  | 6230 | 4347 |  |
| RRAM 2024-33A SUB | Bermuda |  | 9.16% |  |  |  | 10/2039 |  | 3850 | 2726 |  |
| RRAM 2025-38A SUB | Cayman Islands |  | 12.09% |  |  |  | 04/2040 |  | 2240 | 1548 |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| RRAM 2025-42A SUB | Cayman Islands |  | 11.83% |  |  |  | 07/2122 |  | 4071 | 2478 |  |  |
| SIXST 2020-16A SUB | Cayman Islands |  | 20.55% |  |  |  | 10/2032 |  | 1068 | 634 |  |  |
| SIXST 2021-17A SUB | Cayman Islands |  | 16.98% |  |  |  | 04/2125 |  | 6000 | 3143 |  |  |
| SIXST 2022-21A SUB | Cayman Islands |  | 13.55% |  |  |  | 10/2037 |  | 4161 | 1945 |  |  |
| SIXST 2023-22A SUB | Cayman Islands |  | 13.53% |  |  |  | 04/2125 |  | 7000 | 3765 |  |  |
| SIXST 2025-28A SUB | Cayman Islands |  | 10.98% |  |  |  | 04/2125 |  | 1703 | 959 |  |  |
| SIXST 2025-29A SUB | Cayman Islands |  | 11.94% |  |  |  | 07/2038 |  | 480 | 337 |  |  |
| SIXST 2025-30A SUB | Cayman Islands |  | 11.96% |  |  |  | 07/2038 |  | 485 | 333 |  |  |
| SIXST 2025-31A SUB | Cayman Islands |  | 11.50% |  |  |  | 01/2039 |  | 10415 | 8905 |  |  |
| SPEAK 2024-11A SUB | Cayman Islands |  | 15.61% |  |  |  | 07/2037 |  | 3300 | 2332 |  |  |
| STKPK 2022-1A M | Jersey |  |  |  |  |  | 10/2037 |  | 17520 | 514 |  |  |
| STKPK 2022-1A SUB | Jersey |  | 11.86% |  |  |  | 10/2037 |  | 17520 | 7704 |  |  |
| VOYA 2024-1A SUB | Cayman Islands |  | 11.40% |  |  |  | 04/2037 |  | 3104 | 2039 |  |  |
| VOYA 2025-2A SUB | Cayman Islands |  | 13.71% |  |  |  | 07/2038 |  | 9503 | 7630 |  |  |
|  |  |  |  |  |  |  |  |  |  | 467085 |  | 9.46% |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS - EQUITY (Cost $597,548)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - EQUITY (Cost $597,548)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - EQUITY (Cost $597,548)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - EQUITY (Cost $597,548)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - EQUITY (Cost $597,548)** | **TOTAL COLLATERALIZED LOAN OBLIGATIONS - EQUITY (Cost $597,548)** |  |  |  |  | 467085 |  | 9.46% |
| **MORTGAGE-BACKED SECURITY(d)(e)** | **MORTGAGE-BACKED SECURITY(d)(e)** | **MORTGAGE-BACKED SECURITY(d)(e)** |  |  |  |  |  |  |  |  |  |  |
| **Financial Services** |  |  |  |  |  |  |  |  |  |  |  |  |
| CAIF 1 | Ireland |  | 9.49% | SONIA (Q) | 6.45% |  | 08/2035 |  | £10690 | 14014 |  |  |
| CPFTR 2025-1 |  |  | 8.38% |  |  |  | 07/2026 |  | 18135 | 18184 |  |  |
| JPMMT 2026-ACES1 |  |  | 4.65% |  |  |  | 04/2066 |  | 468435 | 25079 |  |  |
| JPMMT 2026-ACES1 |  |  | 4.65% |  |  |  | 04/2066 |  | 6 | 3 |  |  |
|  |  |  |  |  |  |  |  |  |  | 57280 |  | 1.16% |
| **TOTAL MORTGAGE-BACKED SECURITY (Cost $57,460)** | **TOTAL MORTGAGE-BACKED SECURITY (Cost $57,460)** | **TOTAL MORTGAGE-BACKED SECURITY (Cost $57,460)** | **TOTAL MORTGAGE-BACKED SECURITY (Cost $57,460)** |  |  |  |  |  |  | 57280 |  | 1.16% |
| **PRIVATE ASSET-BACKED INVESTMENT(b)(c)(d)(e)** | **PRIVATE ASSET-BACKED INVESTMENT(b)(c)(d)(e)** | **PRIVATE ASSET-BACKED INVESTMENT(b)(c)(d)(e)** | **PRIVATE ASSET-BACKED INVESTMENT(b)(c)(d)(e)** | **PRIVATE ASSET-BACKED INVESTMENT(b)(c)(d)(e)** |  |  |  |  |  |  |  |  |
| **Consumer Services** | **Consumer Services** |  |  |  |  |  |  |  |  |  |  |  |
| CFG Investments WH Limited |  |  | 9.78% | SOFR (Q) | 6.00% |  | 03/2031 |  | 664 | 664 | (g) |  |
|  |  |  |  |  |  |  |  |  |  | 664 |  | 0.01% |
| **Data Centers** |  |  |  |  |  |  |  |  |  |  |  |  |
| Vantage Data Centers Europe S.a r.l. | Luxembourg |  | 8.64% | EURIBOR (B) | 6.75% |  | 05/2029 |  | 3974 | 4593 | (g) |  |
|  |  |  |  |  |  |  |  |  |  | 4593 |  | 0.09% |
| **Financial Services** | **Financial Services** |  |  |  |  |  |  |  |  |  |  |  |
| Adonis Financial Funding, LLC |  |  |  |  |  |  | 12/2026 |  | 417 | 54 | (g)(i) |  |
| ASF VII WAGNER B L.P., | United Kingdom |  | 9.67% | SOFR (Q) | 6.00% |  | 08/2028 |  | 65 | 65 |  |  |
| ASF VII WAGNER B L.P., | United Kingdom |  | 8.02% | EURIBOR (Q) | 6.00% |  | 08/2028 |  | 56 | 65 |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| ASF VII WAGNER L.P., | United Kingdom |  | 9.67% | SOFR (Q) | 6.00% |  | 08/2028 |  |  | 139 | 139 |  |  |
| ASF VII WAGNER L.P., | United Kingdom |  | 8.02% | EURIBOR (Q) | 6.00% |  | 08/2028 |  | € | 120 | 138 |  |  |
| Cannon Bridge Designated Activity Company | Ireland |  | 14.10% | EURIBOR (Q) | 12.00% |  | 07/2027 |  | € | 2862 | 3249 | (g) |  |
| Cannon Bridge Designated Activity Company | Ireland |  | 8.00% | EURIBOR (S) | 6.00% |  | 07/2027 |  | € | 1394 | 1611 | (g) |  |
| DFC Global Facility Borrower III LLC |  |  | 12.42% | SOFR (M) | 8.75% |  | 01/2028 |  | CAD | 2567 | 1845 | (g) |  |
| DFC Global Facility Borrower III LLC |  |  | 6.37% | CORRA (M) | 4.07% |  | 01/2028 |  | CAD | 31509 | 22651 | (g) |  |
| Harbourvest Global Private Equity Limited | Guernsey |  | 7.26% | SOFR (Q) | 3.50% |  | 06/2029 |  |  | 11400 | 11400 | (g) |  |
| HarbourVest Structured Solutions 2025 Feeder L.P. |  |  | 12.50% |  |  |  | 03/2041 |  |  | 1334 | 1304 |  |  |
| HarbourVest Structured Solutions 2025 L.P. |  |  | 7.96% |  |  |  | 03/2041 |  |  | 1307 | 1301 | (g) |  |
| HarbourVest Structured Solutions 2025 L.P. |  |  | 12.25% |  |  |  | 03/2041 |  |  | 1334 | 1327 | (g) |  |
| Hg Saturn 2 SumoCo Limited | Guernsey |  | 10.67% (7.00% PIK) | SOFR (Q) | 7.00% |  | 01/2029 |  |  | 20657 | 20657 |  |  |
| Isthmus Capital LLC |  |  | 9.50% |  |  |  | 06/2030 |  |  | 2665 | 2665 |  |  |
| Isthmus Capital LLC |  |  |  |  |  |  | 12/2049 |  |  |  | 63 |  |  |
| Kohlberg Private Credit Investors Rated Feeder-L, L.L.C. |  |  | 13.02% | SOFR (S) | 9.25% |  | 12/2036 |  |  | 1558 | 1543 | (g) |  |
| Kohlberg Private Credit Investors Rated Feeder-L, L.L.C./Subordinated Notes 10/25 |  |  |  |  |  |  | 12/2036 |  |  | 202 | 202 |  |  |
| Mars Downstop Loan Purchaser Trust |  |  | 11.00% |  |  |  |  |  |  | 9697 | 3280 |  |  |
| MCF CLO 12 LLC |  |  | 7.72% | SOFR (Q) | 4.05% |  | 02/2034 |  |  | 10400 | 10358 |  |  |
| MidOcean CLO Equity Fund I, LP |  |  | 9.00% |  |  |  |  |  |  | 24673 | 24673 |  |  |
| OKANAGAN 2024-1 |  |  | 10.80% | SOFR (M) | 8.25% |  | 12/2032 |  |  | 11610 | 11203 |  |  |
| StepStone Boulder II, L.P. |  |  | 8.55% | SOFR (S) | 6.61% |  | 04/2041 |  |  | 3042 | 3042 | (g) |  |
| Sunbit Receivables Trust IV |  |  | 10.67% | SOFR (M) | 7.00% |  | 04/2029 |  |  | 3110 | 3110 | (g) |  |
| TI VI Holdings 1, L.P. | United Kingdom |  | 9.31% PIK |  |  |  |  |  |  | 2 | 1882 |  |  |
| Tikehau Green Diamond II CFO Equity LP | European Union |  | 9.77% | EURIBOR (Q) | 7.75% |  | 12/2030 |  | € | 2216 | 1867 |  |  |
| Tikehau Ruby CLO Equity LP |  |  | 12.02% | EURIBOR (Q) | 10.00% |  |  |  | € | 3054 | 827 |  |  |
| Tikehau Topaz LP |  |  | 12.67% | SOFR (Q) | 9.00% |  |  |  |  | 2641 | 1815 |  |  |
| WPCG Aspire Holdings, LLC |  |  | 11.50% |  |  |  | 07/2033 |  |  | 10477 | 10399 | (g) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
|  |  |  |  |  |  |  |  |  |  | 142735 |  | 2.89% |
| **Real Estate Management and Development** | **Real Estate Management and Development** | **Real Estate Management and Development** |  |  |  |  |  |  |  |  |  |  |
| Illinois Investment S.a.r.l. | Luxembourg |  | 5.17% |  |  |  | 12/2026 |  | 31362 | 1797 |  |  |
| Illinois Investment S.a.r.l. | Luxembourg |  | 25.00% |  |  |  | 04/2029 |  | 10050 | 1061 |  |  |
| Invesco Vaf V Investments, LLC |  |  | 14.50% |  |  |  | 07/2028 |  | 1500 | 1500 |  |  |
| Invesco Vaf V Investments, LLC |  |  | 14.50% |  |  |  | 07/2028 |  | 1667 | 1667 |  |  |
| Pallas Australia Feeder Trust | Australia |  | 10.03% | BBSY (M) | 6.46% |  | 01/2028 |  | 6921 | 4775 |  |  |
| Pallas NZ Funding Trust No. 1 | New Zealand |  | 9.36% | BBSY (M) | 6.15% |  | 07/2026 |  | 6265 | 3600 | (g) |  |
| QUINTAIN INVESTMENTS HOLDINGS LIMITED | Jersey |  |  |  |  |  |  |  | £41 |  |  |  |
| QUINTAIN INVESTMENTS HOLDINGS LIMITED | Jersey |  |  |  |  |  | 08/2031 |  | £29040 | 44654 |  |  |
|  |  |  |  |  |  |  |  |  |  | 59054 |  | 1.20% |
| **Software and Services** | **Software and Services** |  |  |  |  |  |  |  |  |  |  |  |
| Switch BBF, LLC |  |  | 10.84% | SOFR (S) | 7.17% |  | 08/2027 |  | 1342 | 1342 |  |  |
|  |  |  |  |  |  |  |  |  |  | 1342 |  | 0.03% |
| **Sports, Media and Entertainment** | **Sports, Media and Entertainment** | **Sports, Media and Entertainment** |  |  |  |  |  |  |  |  |  |  |
| Orange Barrel Media, LLC |  |  | 9.42% | SOFR (M) | 5.75% |  | 03/2027 |  | 4784 | 4784 |  |  |
| Orange Barrel Media, LLC |  |  | 9.42% | SOFR (M) | 5.75% |  | 03/2027 |  | 166 | 166 | (g) |  |
| Orange Barrel Media, LLC |  |  | 9.42% | SOFR (M) | 5.75% |  | 10/2027 |  | 6536 | 6536 |  |  |
|  |  |  |  |  |  |  |  |  |  | 11486 |  | 0.23% |
| **Telecommunication Services** | **Telecommunication Services** | **Telecommunication Services** |  |  |  |  |  |  |  |  |  |  |
| Dobson Ventures, LLC |  |  | 11.50% |  |  |  | 03/2029 |  | 1890 | 1881 |  |  |
|  |  |  |  |  |  |  |  |  |  | 1881 |  | 0.04% |
| **TOTAL PRIVATE ASSET-BACKED INVESTMENT (Cost $214,451)** | **TOTAL PRIVATE ASSET-BACKED INVESTMENT (Cost $214,451)** | **TOTAL PRIVATE ASSET-BACKED INVESTMENT (Cost $214,451)** | **TOTAL PRIVATE ASSET-BACKED INVESTMENT (Cost $214,451)** | **TOTAL PRIVATE ASSET-BACKED INVESTMENT (Cost $214,451)** |  |  |  |  |  | 221755 |  | 4.49% |
| **PREFERRED EQUITY(b)(c)(d)(e)** | **PREFERRED EQUITY(b)(c)(d)(e)** | **PREFERRED EQUITY(b)(c)(d)(e)** |  |  |  |  |  |  |  |  |  |  |
| **Automobiles and Components** | **Automobiles and Components** | **Automobiles and Components** |  |  |  |  |  |  |  |  |  |  |
| Automotive Keys Investor, LLC |  |  |  |  |  | 12/2020 |  | 37749 |  | 4 | (j) |  |
| Automotive Keys Investor, LLC |  |  |  |  |  | 01/2023 |  | 25000 |  | 2 | (j) |  |
|  |  |  |  |  |  |  |  |  |  | 6 |  | —% |
| **Capital Goods** |  |  |  |  |  |  |  |  |  |  |  |  |
| Endurance PT Technology Holdings LLC |  |  | 8.00% PIK |  |  | 10/2025 |  | 81 |  | 82 |  |  |
|  |  |  |  |  |  |  |  |  |  | 82 |  | —% |
| **Commercial and Professional Services** | **Commercial and Professional Services** | **Commercial and Professional Services** |  |  |  |  |  |  |  |  |  |  |
| Denali Parent Holdings, L.P. |  | Series A | 8.00% PIK |  |  | 08/2025 |  | 94500 |  | 1108 |  |  |
| KBS Topco, LLC |  |  |  |  |  | 03/2024 |  | 901730 |  |  | (f)(j) |  |
| TCC Buyer Holdco, LLC |  |  |  |  |  | 01/2026 |  | 1131 |  | 1131 | (j) |  |
| UPBW Blocker, LLC |  |  | 15.00% PIK |  |  | 07/2025 |  | 410 |  | 45 |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| WSC Ultimate Holdings, LLC |  | Class A | 10.00% PIK |  |  | 05/2024 |  | 1020 |  | 122 |  |  |
|  |  |  |  |  |  |  |  |  |  | 2406 |  | 0.05% |
| **Consumer Distribution and Retail** | **Consumer Distribution and Retail** | **Consumer Distribution and Retail** |  |  |  |  |  |  |  |  |  |  |
| City Line Investments LLC |  | Class A | 8.00% PIK |  |  | 08/2023 |  | 30038 |  | 30 |  |  |
| GMP Hills, LP |  |  |  |  |  | 11/2023 |  | 611000 |  | 921 | (j) |  |
| Metis Holdco, Inc. |  | Class A | 7.00% PIK |  |  | 05/2021 |  | 7959 |  | 11892 |  |  |
| Monolith Brands Group, Inc. |  | Series A |  |  |  | 04/2022 |  | 192811 |  |  | (j) |  |
| Royal Parent, LP |  | Class A | 10.00% PIK |  |  | 07/2024 |  | 293000 |  | 304 |  |  |
|  |  |  |  |  |  |  |  |  |  | 13147 |  | 0.27% |
| **Consumer Services** | **Consumer Services** |  |  |  |  |  |  |  |  |  |  |  |
| Aragorn Parent Holdings LP |  | Series A | 10.00% PIK |  |  | 10/2020 |  | 50000 |  | 140 |  |  |
| BPCP Pinnacle Holdings, Inc. |  |  |  |  |  | 01/2026 |  | 24 |  | 24 | (j) |  |
| Family First Bidco Limited | United Kingdom |  | 12.50% |  |  | 12/2022 |  | 20838 |  | 28 |  |  |
| Mustang Prospects Holdco, LLC |  | Class A |  |  |  | 09/2024 |  | 54 |  | 55 | (j) |  |
| OMERS Mahomes Investment Holdings LLC |  |  | 15.00% PIK |  |  | 07/2023 |  | 2 |  | 24 |  |  |
|  |  |  |  |  |  |  |  |  |  | 271 |  | 0.01% |
| **Financial Services** | **Financial Services** |  |  |  |  |  |  |  |  |  |  |  |
| Aquarian Peninsula Holdings LLC |  |  | 12.42% | SOFR (Q) | 10.50% | 12/2022 |  | 35481024 |  | 46280 |  |  |
| ASE Royal Aggregator, LLC |  | Class A |  |  |  | 07/2023 |  | 1646000 |  | 2212 | (j) |  |
| MC CIF WEALTH MANAGEMENT (UK) LTD. | United Kingdom |  | 12.00% PIK |  |  | 08/2025 |  | 639 |  | 689 |  |  |
| MC CIF WEALTH MANAGEMENT (UK) LTD. | United Kingdom |  | 12.00% (6.00% PIK) |  |  | 08/2025 |  | 639 |  | 663 |  |  |
| StepStone Boulder II Equity, L.P. |  |  |  |  |  | 03/2026 |  | 4163600 |  | 4164 | (j) |  |
| TVG-TMG Holdings, LLC |  | Series A |  |  |  | 03/2022 |  | 50 |  | 50 | (j) |  |
|  |  |  |  |  |  |  |  |  |  | 54058 |  | 1.09% |
| **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** |  |  |  |  |  |  |  |  |  |  |
| Gotham Greens Holdings, PBC |  | Series E-1 |  |  |  | 06/2022 |  | 76779 |  |  | (f)(j) |  |
|  |  |  |  |  |  |  |  |  |  |  |  | —% |
| **Health Care Equipment and Services** | **Health Care Equipment and Services** | **Health Care Equipment and Services** |  |  |  |  |  |  |  |  |  |  |
| Aerin Medical Inc. |  |  |  |  |  | 12/2024 |  | 152624 |  | 148 | (j) |  |
| GMR Buyer Corp. |  |  | 15.00% PIK |  |  | 05/2024 |  | 10550 |  | 13884 |  |  |
| Minerva Holdco, Inc. |  |  | 10.75% PIK |  |  | 02/2022 |  | 21262 |  | 32807 |  |  |
| Olympia Acquisition, Inc. |  |  |  |  |  | 02/2022 |  | 472 |  |  | (j) |  |
| Olympia TopCo, L.P. |  |  |  |  |  | 07/2021 |  | 2184 |  |  | (j) |  |
| OMERS Wildcats Investment Holdings LLC |  | Class A |  |  |  | 08/2023 |  | 19 |  | 10 | (j) |  |
| Symplr Software Intermediate Holdings, Inc. |  | Series C-1 | 11.00% PIK |  |  | 12/2020 |  | 50 |  | 61 |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Symplr Software Intermediate Holdings, Inc. |  | Series C-2 | 11.00% PIK |  |  | 06/2021 |  | 5980 |  | 6934 |  |  |
| Symplr Software Intermediate Holdings, Inc. |  | Series C-3 | 11.00% PIK |  |  | 10/2021 |  | 789 |  | 884 |  |  |
| WSHP FC Holdings LLC |  |  |  |  |  | 11/2024 |  | 5 |  |  | (j) |  |
|  |  |  |  |  |  |  |  |  |  | 54728 |  | 1.11% |
| **Insurance** |  |  |  |  |  |  |  |  |  |  |  |  |
| HIG Intermediate, Inc. |  |  | 10.50% |  |  | 12/2024 |  | 5290 |  | 5290 |  |  |
| High Street HoldCo LLC |  | Series A-1 | 10.00% PIK |  |  | 01/2022 |  | 3898354 |  | 6361 |  |  |
| High Street HoldCo LLC |  | Series A-2 | 10.00% PIK |  |  | 01/2022 |  | 789494 |  | 1271 |  |  |
| High Street HoldCo LLC |  | Series A-3 | 10.00% PIK |  |  | 01/2022 |  | 389813 |  | 623 |  |  |
| High Street HoldCo LLC |  | Series A-4 | 10.00% PIK |  |  | 01/2022 |  | 1480301 |  | 2346 |  |  |
| High Street HoldCo LLC |  | Series A-5 | 10.00% PIK |  |  | 01/2022 |  | 347693 |  | 546 |  |  |
| High Street HoldCo LLC |  | Series A-6 | 10.00% PIK |  |  | 01/2022 |  | 660617 |  | 1030 |  |  |
| High Street HoldCo LLC |  | Series A-7 | 10.00% PIK |  |  | 01/2022 |  | 938771 |  | 1440 |  |  |
| High Street HoldCo LLC |  | Series A-8 | 10.00% PIK |  |  | 11/2022 |  | 409637 |  | 574 |  |  |
| High Street HoldCo LLC |  | Series A-9 | 10.00% PIK |  |  | 11/2022 |  | 97533 |  | 136 |  |  |
| High Street HoldCo LLC |  | Series A-10 | 10.00% PIK |  |  | 12/2022 |  | 253585 |  | 351 |  |  |
| High Street HoldCo LLC |  | Series A-11 | 10.00% PIK |  |  | 12/2022 |  | 331611 |  | 457 |  |  |
| High Street HoldCo LLC |  | Series A-12 | 10.00% PIK |  |  | 44958 |  | 702235 |  | 959 |  |  |
| High Street HoldCo LLC |  | Series A-13 | 10.00% PIK |  |  | 04/2023 |  | 214572 |  | 288 |  |  |
| High Street HoldCo LLC |  | Series A-14 | 10.00% PIK |  |  | 07/2023 |  | 136546 |  | 179 |  |  |
| High Street HoldCo LLC |  | Series A-15 | 10.00% PIK |  |  | 07/2023 |  | 711315 |  | 929 |  |  |
|  |  |  |  |  |  |  |  |  |  | 22780 |  | 0.46% |
| **Materials** |  |  |  |  |  |  |  |  |  |  |  |  |
| Novipax Parent Holding Company, L.L.C. |  | Class A |  |  |  | 12/2020 |  | 50 |  | 40 | (j) |  |
| Plaskolite PPC Blocker LLC |  |  |  |  |  | 10/2023 |  | 1 |  |  | (j) |  |
| Plaskolite PPC Blocker LLC |  |  |  |  |  | 05/2025 |  | 3271 |  | 66 | (j) |  |
|  |  |  |  |  |  |  |  |  |  | 106 |  | —% |
| **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** |  |  |  |  |  |  |  |  |  |
| Cardinal Topco Holdings, LP |  | Class A | 8.00% PIK |  |  | 09/2020 |  | 83 |  | 199 |  |  |
| Cobalt Holdings I, LP |  |  |  |  |  | 10/2021 |  | 50 |  |  |  |  |
| Cobalt Intermediate I, Inc. |  | Series A | 13.75% PIK |  |  | 10/2021 |  | 8582 |  | 14945 |  |  |
|  |  |  |  |  |  |  |  |  |  | 15144 |  | 0.31% |
| **Software and Services** | **Software and Services** | **Software and Services** |  |  |  |  |  |  |  |  |  |  |
| Activate holdings (US) Corp. |  |  |  |  |  | 10/2023 |  | 50000 |  | 69 | (j) |  |
| Banyan Software Intermediate, Inc. |  |  | 14.00% PIK |  |  | 01/2026 |  | 17849 |  | 21223 |  |  |
| Banyan Software Intermediate, Inc. |  |  | 14.00% PIK |  |  | 01/2026 |  | 26813 |  | 30751 |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Banyan Software Intermediate, Inc. |  |  | 14.00% PIK |  |  | 01/2026 |  | 1688 |  | 1733 |  |  |
| CBTS TopCo, L.P. |  |  | 8.00% PIK |  |  | 12/2024 |  | 1100000 |  | 1236 |  |  |
| Cority Parent, Inc. | Canada | Class A-1 | 9.00% PIK |  |  | 07/2019 |  | 50 |  | 193 |  |  |
| DCert Preferred Holdings, Inc. |  | Series A | 10.50% PIK |  |  | 05/2021 |  | 22284 |  | 26417 |  |  |
| Diligent Preferred Issuer, Inc. |  |  | 10.50% PIK |  |  | 04/2021 |  | 1476 |  | 2336 |  |  |
| Eclipse Topco, Inc. |  |  | 12.50% PIK |  |  | 09/2024 |  | 118 |  | 1386 |  |  |
| EZ Elemica Holdings, Inc. |  |  |  |  |  | 09/2019 |  | 50 |  | 55 | (j) |  |
| GSV PracticeTek Holdings, LLC |  | Class A | 8.00% PIK |  |  | 03/2021 |  | 269272 |  | 236 |  |  |
| ID.me, Inc. |  |  |  |  |  | 08/2025 |  | 1872803 |  | 2952 | (j) |  |
| Jams Holdings LP |  |  | 8.00% PIK |  |  | 06/2025 |  | 139000 |  | 181 |  |  |
| Knockout Intermediate Holdings I Inc. |  |  | 14.33% PIK | SOFR (S) | 10.75% | 06/2022 |  | 4005 |  | 5716 |  |  |
| Magic Topco, L.P. |  | Class A | 9.00% PIK |  |  | 09/2020 |  | 37 |  | 38 |  |  |
| ModMed Software Midco Holdings, Inc. |  |  | 13.00% PIK |  |  | 04/2025 |  | 13000 |  | 14153 |  |  |
| Packers Software Intermediate Holdings, Inc. |  | Series A | 11.00% PIK |  |  | 11/2020 |  | 50 |  | 81 |  |  |
| Packers Software Intermediate Holdings, Inc. |  | Series A-2 | 11.00% PIK |  |  | 12/2020 |  | 18 |  | 28 |  |  |
| Packers Software Intermediate Holdings, Inc. |  | Series A-3 | 11.00% PIK |  |  | 11/2021 |  | 24 |  | 34 |  |  |
| PCMI Ultimate Holdings, LP |  |  | 9.00% PIK |  |  | 03/2025 |  | 145 |  | 222 |  |  |
| Peachtree Parent, Inc. |  | Series A | 13.25% PIK |  |  | 03/2019 |  | 25 |  | 63 |  |  |
| Sunshine Software Holdings, Inc. |  | Series A | 10.50% PIK |  |  | 10/2021 |  | 15929 |  | 17162 |  |  |
| SuperMoose NewCo, Inc. |  |  | 15.00% PIK |  |  | 04/2024 |  | 17961 |  | 23957 |  |  |
| Wellington TopCo LP |  | Class A-2 |  |  |  | 06/2024 |  | 143000 |  | 169 | (j) |  |
|  |  |  |  |  |  |  |  |  |  | 150391 |  | 3.04% |
| **Sports, Media and Entertainment** | **Sports, Media and Entertainment** | **Sports, Media and Entertainment** |  |  |  |  |  |  |  |  |  |  |
| CFC Funding LLC |  |  | 9.75% PIK |  |  | 07/2023 |  | 4270 |  | 5419 |  |  |
| Fever Labs, Inc. |  |  |  |  |  | 08/2024 |  | 59428 |  | 313 | (j) |  |
| Fever Labs, Inc. |  |  | 13.50% PIK |  |  | 06/2025 |  | 776 |  | 864 |  |  |
| League One Volleyball, Inc. |  | Series B |  |  |  | 07/2023 |  | 194 |  | 4 | (j) |  |
| League One Volleyball, Inc. |  |  |  |  |  | 09/2024 |  | 67 |  | 1 | (j) |  |
| Melody TopCo LP |  |  | 11.00% PIK |  |  | 07/2025 |  | 1199 |  | 2284 |  |  |
| Melody TopCo LP |  |  | 11.00% PIK |  |  | 07/2025 |  | 1199 |  | 256 |  |  |
| Propagate Content LLC |  |  | 8.00% PIK |  |  | 10/2025 |  | 0 |  | 35 |  |  |
|  |  |  |  |  |  |  |  |  |  | 9176 |  | 0.19% |
| **Telecommunication Services** | **Telecommunication Services** | **Telecommunication Services** |  |  |  |  |  |  |  |  |  |  |
| 6DG TOPCO LIMITED | United Kingdom |  |  |  |  | 02/2024 |  | 1371829990 |  |  | (j) |  |
|  |  |  |  |  |  |  |  |  |  |  |  | —% |
| **Transportation** |  |  |  |  |  |  |  |  |  |  |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| FIP RR Holdings LLC |  |  | 10.00% PIK |  |  | 08/2025 |  | 12191 |  | 13456 |  |  |
| Neovia Acquisition, LLC |  | Class B | 17.77% | SOFR (Q) | 12.50% | 11/2022 |  | 718 |  | 1104 |  |  |
|  |  |  |  |  |  |  |  |  |  | 14560 |  | 0.29% |
| **Utilities** |  |  |  |  |  |  |  |  |  |  |  |  |
| Ferrellgas, L.P. |  |  | 8.96% |  |  | 03/2021 |  | 8898 |  | 10179 |  |  |
|  |  |  |  |  |  |  |  |  |  | 10179 |  | 0.21% |
| **TOTAL PREFERRED EQUITY (Cost $371,566)** | **TOTAL PREFERRED EQUITY (Cost $371,566)** | **TOTAL PREFERRED EQUITY (Cost $371,566)** | **TOTAL PREFERRED EQUITY (Cost $371,566)** |  |  |  |  |  |  | 347034 |  | 7.03% |
| **COMMON EQUITY** | **COMMON EQUITY** | **COMMON EQUITY** |  |  |  |  |  |  |  |  |  |  |
| **Automobiles and Components** | **Automobiles and Components** | **Automobiles and Components** |  |  |  |  |  |  |  |  |  |  |
| Automotive Keys Investor, LLC |  | Class A |  |  |  | 11/2020 |  | 62749 |  |  | (d)(e)(j) |  |
| Clarity Technologies Holdings, LP |  | Class A |  |  |  | 09/2025 |  | 4541 |  | 428 | (d)(e)(j) |  |
| Continental Group Holdings, L.P. |  | Class A |  |  |  | 07/2025 |  | 9286 |  |  | (d)(e)(j) |  |
| Highline PPC Blocker LLC |  |  |  |  |  | 11/2020 |  | 500 |  | 108 | (d)(e)(j) |  |
| Next Horizon Capital TireCo SPV, LP |  |  |  |  |  | 03/2025 |  | 48000 |  | 61 | (d)(e)(j) |  |
| Sun TopCo, LP |  | Class A |  |  |  | 09/2021 |  | 1000 |  | 141 | (d)(e)(j) |  |
| Victory Topco, LP |  | Class A-2 |  |  |  | 11/2023 |  | 2510 |  | 691 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 1429 |  | 0.03% |
| **Capital Goods** |  |  |  |  |  |  |  |  |  |  |  |  |
| Align Precision Topco, L.P. |  | Class A |  |  |  | 07/2025 |  | 1486 |  | 55 | (d)(e)(j) |  |
| Allclear Group LLC |  |  |  |  |  | 05/2025 |  | 1146 |  |  | (d)(e)(j) |  |
| Dynamic NC Investment Holdings, LP |  |  |  |  |  | 12/2020 |  | 50000 |  | 91 | (d)(e)(j) |  |
| Endurance PT Technology Holdings LLC |  |  |  |  |  | 10/2025 |  | 90 |  | 10 | (d)(e)(j) |  |
| GB Helios Holdings, L.P. |  | Series A |  |  |  | 05/2024 |  | 59 |  | 115 | (d)(e)(j) |  |
| HPCC Parent, Inc. |  |  |  |  |  | 09/2024 |  | 148775 |  | 1410 | (d)(e)(j) |  |
| IMPEL CV-B, LP |  |  |  |  |  | 03/2025 |  | 130381 |  | 102 | (d)(e)(j) |  |
| Livewire Co-Invest Holdings, LP |  |  |  |  |  | 01/2026 |  | 22 |  | 22 | (d)(e)(j) |  |
| OPH NEP Investment, LLC |  | Class B |  |  |  | 05/2024 |  | 2 |  | 850 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 2655 |  | 0.05% |
| **Commercial and Professional Services** | **Commercial and Professional Services** | **Commercial and Professional Services** |  |  |  |  |  |  |  |  |  |  |
| Bedrock Parent Holdings, LP |  | Class A |  |  |  | 04/2021 |  | 644 |  | 54 | (d)(e)(j) |  |
| Bluejack Fire Holdings, LLC |  |  |  |  |  | 01/2025 |  | 195 |  | 184 | (d)(e)(j) |  |
| Capstone Parent Holdings, LP |  | Class A |  |  |  | 11/2020 |  | 50 |  | 90 | (d)(e)(j) |  |
| Drogon Aggregator LP |  | Class A-2 |  |  |  | 08/2024 |  | 186000 |  | 257 | (d)(e)(j) |  |
| Elliott Davis Advisory HoldCo, LLC |  | Class A-1 |  |  |  | 07/2025 |  | 212000 |  | 206 | (d)(e)(j) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Elliott Metron Co-Investor Aggregator L.P. |  |  |  |  |  | 10/2022 |  | 1000000 |  | 1838 | (d)(e)(j) |  |
| GCM HVAC TOPCO, LLC |  | Class A |  |  |  | 09/2024 |  | 756697 |  | 890 | (e)(j) |  |
| KBS Topco, LLC |  | Class A |  |  |  | 03/2024 |  | 901730 |  |  | (d)(e)(f)(j) |  |
| KKR Nest Co-Invest L.P. |  |  |  |  |  | 09/2021 |  | 50000 |  | 67 | (d)(e)(j) |  |
| Laboratories Topco LLC |  | Class A |  |  |  | 07/2021 |  | 33333 |  |  | (d)(e)(j) |  |
| LBC Woodlands Holdings LP |  | Class A-1 |  |  |  | 07/2024 |  | 108000 |  | 70 | (d)(e)(j) |  |
| MS Precision Parent, LP |  |  |  |  |  | 03/2025 |  | 179000 |  | 202 | (d)(e)(j) |  |
| New Insight Holdings, Inc. |  |  |  |  |  | 07/2024 |  | 1788 |  | 14 | (d)(e)(f)(j) |  |
| Pond Management Group Holdings, LLC |  |  |  |  |  | 11/2025 |  | 1590 |  | 159 | (d)(e)(j) |  |
| PSP Registrar Co-Investment Fund, L.P. |  | Class A |  |  |  | 08/2021 |  | 50 |  | 46 | (d)(e)(j) |  |
| RC V Tecmo Investor LLC |  |  |  |  |  | 08/2020 |  | 50000 |  | 93 | (d)(e)(j) |  |
| Schill Holdings, LP |  |  |  |  |  | 12/2025 |  | 123000 |  | 123 | (d)(e)(j) |  |
| Talon Holdings SCSP | Luxembourg | Class A |  |  |  | 07/2025 |  | 319000 |  | 373 | (d)(e)(j) |  |
| TVG-MGT UPPER INTERMEDIATE HOLDINGS, LLC |  | Class A |  |  |  | 08/2025 |  | 49 |  | 66 | (e)(j) |  |
| Unity Purchaser, LLC |  | Class A |  |  |  | 01/2025 |  | 358000 |  | 356 | (d)(e)(j) |  |
| UPBW Blocker, LLC |  |  |  |  |  | 03/2024 |  | 4700 |  | 573 | (d)(e)(j) |  |
| UPBW Blocker, LLC |  | Class Ares |  |  |  | 09/2024 |  | 304 |  | 37 | (d)(e)(j) |  |
| VEIT Topco, LLC |  |  |  |  |  | 12/2025 |  | 3000 |  | 46 | (e)(j) |  |
| WSC Ultimate Holdings, LLC |  | Class A |  |  |  | 05/2024 |  | 95 |  | 46 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 5790 |  | 0.12% |
| **Consumer Distribution and Retail** | **Consumer Distribution and Retail** | **Consumer Distribution and Retail** |  |  |  |  |  |  |  |  |  |  |
| Arko Corp |  |  |  |  |  | 12/2020 |  | 106 |  |  | (d)(j) |  |
| Fastsigns Holdings Inc. |  |  |  |  |  | 03/2019 |  | 50 |  | 97 | (d)(e)(j) |  |
| GMF Group Holdings, LP |  |  |  |  |  | 12/2025 |  | 303 |  | 303 | (d)(e)(j) |  |
| KCAKE Holdings Inc. |  |  |  |  |  | 05/2021 |  | 50 |  | 87 | (d)(e)(j) |  |
| LJ Perimeter Co-Invest, L.P. |  | Class A |  |  |  | 10/2022 |  | 50052 |  | 38 | (d)(e)(j) |  |
| Marcone Yellowstone Holdings, LLC |  | Class A |  |  |  | 44348.00 |  | 96 |  |  | (d)(e)(j) |  |
| Metis Topco, LP |  |  |  |  |  | 05/2021 |  | 50 |  | 109 | (d)(e)(j) |  |
| REP WWP Coinvest IV, L.P. |  |  |  |  |  | 01/2023 |  | 25000 |  |  | (d)(e)(j) |  |
| Restaurant Produce and Services Blocker, LLC |  | Tranche B |  |  |  | 05/2023 |  | 50000 |  | 41 | (d)(e)(j) |  |
| Shur-Co HoldCo, Inc. |  |  |  |  |  | 06/2021 |  | 500 |  | 115 | (d)(e)(j) |  |
| Stonecourt IV Partners LP |  |  |  |  |  | 10/2021 |  | 2423676 |  | 1190 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 1980 |  | 0.04% |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| **Consumer Durables and Apparel** | **Consumer Durables and Apparel** | **Consumer Durables and Apparel** | | | | | | | | | | |
| Centric Brands L.P. |  | Class A |  |  |  | 10/2020 |  | 21364 |  | 324 | (d)(e)(j) |  |
| DRS Holdings I, Inc. |  |  |  |  |  | 11/2019 |  | 50 |  | 54 | (d)(e)(j) |  |
| SEP Diamond Fund, L.P. |  |  |  |  |  | 06/2024 |  | 2337086 |  | 4131 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 4509 |  | 0.09% |
| **Consumer Services** | **Consumer Services** | **Consumer Services** |  |  |  |  |  |  |  |  |  |  |
| Aimbridge Topco, LLC |  |  |  |  |  | 03/2025 |  | 11970 |  | 629 | (d)(e)(j) |  |
| Apex Service Partners Holdings, LLC |  | Series B |  |  |  | 10/2023 |  | 44263 |  | 2018 | (d)(e)(j) |  |
| BPCP Pinnacle Holdings, Inc. |  |  |  |  |  | 10/2024 |  | 189 |  | 12 | (d)(e)(j) |  |
| Calera XXVIII, LLC |  |  |  |  |  | 12/2025 |  | 234587 |  | 248 | (e)(j) |  |
| CMG Buyer Holdings, Inc. |  |  |  |  |  | 05/2022 |  | 5 |  | 87 | (d)(e)(j) |  |
| Family First Bidco Limited | United Kingdom |  |  |  |  | 12/2022 |  | 176 |  | 10 | (d)(e)(j) |  |
| GS SEER Group Holdings LLC |  | Class A |  |  |  | 04/2023 |  | 25 |  | 8 | (d)(e)(j) |  |
| IHS Parent Holdings, L.P. |  | Class A |  |  |  | 12/2022 |  | 25000 |  | 27 | (d)(e)(j) |  |
| KKR Game Changer Co-Invest Feeder II L.P. |  |  |  |  |  | 06/2024 |  | 467000 |  | 560 | (d)(e)(j) |  |
| LBC Breeze Holdings LLC |  | Class A |  |  |  | 12/2021 |  | 50 |  |  | (d)(e)(j) |  |
| Leviathan Holdings, L.P. |  |  |  |  |  | 12/2022 |  | 38000 |  | 51 | (d)(e)(j) |  |
| LH Equity Investors, L.P. |  |  |  |  |  | 09/2025 |  | 667 |  | 737 | (d)(e)(j) |  |
| Meaningful Partners Fitness Ventures Co-Investment LP |  |  |  |  |  | 07/2024 |  | 686000 |  | 817 | (d)(e)(j) |  |
| Mustang Prospects Holdco, LLC |  | Class B |  |  |  | 09/2024 |  | 54103 |  | 23 | (d)(e)(j) |  |
| Northwinds Services Group LLC |  |  |  |  |  | 05/2023 |  | 60684 |  | 87 | (d)(e)(j) |  |
| OMERS Mahomes Investment Holdings LLC |  | Class A |  |  |  | 11/2020 |  | 16 |  | 66 | (d)(e)(j) |  |
| PestCo Holdings, LLC |  | Class A |  |  |  | 01/2023 |  | 2 |  | 46 | (d)(e)(j) |  |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 3354688 |  |  | (d)(e)(j) |  |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 3354688 |  |  | (d)(e)(j) |  |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 3354688 |  |  | (d)(e)(j) |  |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 3354688 |  |  | (d)(e)(j) |  |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 3354688 |  |  | (d)(e)(j) |  |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 3354688 |  |  | (d)(e)(j) |  |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 3354688 |  |  | (d)(e)(j) |  |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 389395 |  |  | (d)(e)(j) |  |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 3354688 |  |  | (d)(e)(j) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Rust Investment Sarl | Luxembourg |  |  |  |  | 11/2024 |  | 3354688 |  |  | (d)(e)(j) |  |
| TSWT Holdings, LLC |  |  |  |  |  | 11/2025 |  | 1 |  | 18 | (d)(e)(j) |  |
| Vertex Service Partners Holdings, LLC |  | Class B |  |  |  | 11/2023 |  | 33 |  | 25 | (d)(e)(j) |  |
| ZBS Mechanical Group Co-Invest Fund 2, LLC |  |  |  |  |  | 10/2021 |  | 50000 |  | 137 | (d)(e)(j) |  |
| ZBS Mechanical Group Co-Invest II Fund 2, LLC |  |  |  |  |  | 02/2025 |  | 4767 |  | 27 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 5633 |  | 0.11% |
| **Energy** |  |  |  |  |  |  |  |  |  |  |  |  |
| Enviva Inc. |  |  |  |  |  | 12/2024 |  | 1273882 |  | 23885 | (j) |  |
| Galileo Co-Investment Trust I | New Zealand |  |  |  |  | 07/2022 |  | 50000 |  | 40 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 23925 |  | 0.48% |
| **Financial Services** | **Financial Services** |  |  |  |  |  |  |  |  |  |  |  |
| BCC Blueprint Investments, LLC |  |  |  |  |  | 09/2021 |  | 921829 |  | 1907 | (d)(e)(j) |  |
| Constellation Wealth Capital Fund, L.P. |  |  |  |  |  | 01/2024 |  | 650580 |  | 644 | (d)(e)(j) |  |
| CWC Fund I (MFA) LP |  |  |  |  |  | 08/2025 |  | 313587 |  | 313 | (d)(e)(j) |  |
| CWC Fund I Co-Invest (AlTi) LP |  |  |  |  |  | 03/2024 |  | 3276000 |  | 3988 | (d)(e)(j) |  |
| CWC Fund I Co-Invest (Prism) LP |  |  |  |  |  | 03/2024 |  | 2374000 |  | 2828 | (d)(e)(j) |  |
| Eagle Point Credit Co Inc |  |  |  |  |  | 11/2025 |  | 350002 |  | 1316 | (j) |  |
| Endeavor TopCo, Inc. |  | Class A |  |  |  | 08/2024 |  | 323 |  | 525 | (d)(e)(j) |  |
| GTCR (D) Investors LP |  |  |  |  |  | 09/2023 |  | 39339 |  | 91 | (d)(e)(j) |  |
| Integrum Grit Co-Invest LP |  |  |  |  |  | 07/2025 |  | 65250 |  | 61 | (d)(e)(j) |  |
| Jewel Bidco Limited | United Kingdom |  |  |  |  | 05/2025 |  | 253 |  |  | (d)(e)(f)(j) |  |
| Kelso XI Tailwind Co-Investment, L.P. |  |  |  |  |  | 09/2023 |  | 48023 |  | 86 | (d)(e)(j) |  |
| Linden Structured Capital Fund II-A LP |  |  |  |  |  | 07/2024 |  | 498600 |  | 650 | (d)(e)(j) |  |
| MC ACCELERATE CO-INVEST FEEDER LP |  |  |  |  |  | 08/2025 |  | 1000 |  | 1 | (e)(j) |  |
| Oxford Lane Capital Corp. |  |  |  |  |  | 11/2025 |  | 75000 |  | 733 | (j) |  |
| PCS Parent, L.P. |  | Class A |  |  |  | 03/2024 |  | 80000 |  | 80 | (d)(e)(j) |  |
| Sera 2021 LLC |  | Class A |  |  |  | 03/2021 |  | 4 |  | 147 | (d)(e)(j) |  |
| TPG IX Cardiff CI II, L.P. |  |  |  |  |  | 12/2024 |  | 2299421 |  | 2911 | (d)(e)(j) |  |
| TPG IX Cardiff CI II, L.P. |  |  |  |  |  | 12/2025 |  | 255802 |  | 324 | (d)(e)(j) |  |
| TVG-TMG Holdings, LLC |  |  |  |  |  | 03/2022 |  | 50 |  | 16 | (d)(e)(j) |  |
| WAAM Topco, LLC |  | Class A |  |  |  | 06/2023 |  | 45831 |  | 172 | (e)(j) |  |
| Wellington-Altus Financial Inc. | Canada |  |  |  |  | 08/2024 |  | 74001 |  | 4319 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 21112 |  | 0.43% |
| **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** |  |  |  |  |  |  |  |  |  |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Forward Keystone Holdings, LP |  |  |  |  |  | 03/2025 |  | 588000 |  | 610 | (d)(e)(j) |  |
| PPC CHG Blocker LLC |  |  |  |  |  | 12/2021 |  | 1 |  | 83 | (d)(e)(j) |  |
| SBC Aggregator LP |  |  |  |  |  | 02/2025 |  | 1247 |  | 1689 | (d)(e)(j) |  |
| Watermill Express Holdings, LLC |  | Class E |  |  |  | 07/2025 |  | 805 |  |  | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 2382 |  | 0.05% |
| **Health Care Equipment and Services** | **Health Care Equipment and Services** | **Health Care Equipment and Services** |  |  |  |  |  |  |  |  |  |  |
| Asclepius Holdings LLC |  |  |  |  |  | 02/2022 |  | 448 |  |  | (d)(e)(j) |  |
| AVE Holdings LP |  | Class A |  |  |  | 03/2024 |  | 402 |  |  | (d)(e)(j) |  |
| AVE Holdings LP |  | Class C |  |  |  | 11/2023 |  | 983 |  |  | (d)(e)(j) |  |
| BCPE Co-Invest (A), LP |  | Class A |  |  |  | 02/2022 |  | 45000 |  | 59 | (d)(e)(j) |  |
| BCPE Hyperlink Holdings, LP |  | Class A |  |  |  | 09/2025 |  | 4683 |  | 55 | (d)(e)(j) |  |
| BVI Group Limited |  |  |  |  |  | 03/2025 |  | 532 |  | 342 | (d)(e)(j) |  |
| CHPPR Holdings Inc. |  |  |  |  |  | 12/2023 |  | 4700 |  | 1030 | (e)(j) |  |
| Crown CT HoldCo Inc. |  | Class A |  |  |  | 03/2022 |  | 5 |  | 58 | (d)(e)(j) |  |
| Crown CT Management LLC |  |  |  |  |  | 03/2022 |  | 1 |  | 9 | (d)(e)(j) |  |
| Galaxy Topco I, L.P. |  |  |  |  |  | 01/2026 |  | 98000 |  | 98 | (e)(j) |  |
| General Atlantic (USU) Blocker Collection Holdco, L.P. |  |  |  |  |  | 04/2025 |  | 305000 |  | 524 | (d)(e)(j) |  |
| General Atlantic (USU-2) Coinvest, L.P. |  |  |  |  |  | 10/2025 |  | 61653 |  | 66 | (d)(e)(j) |  |
| KOLN Co-Invest Unblocked, LP |  | Class A |  |  |  | 03/2023 |  | 50 |  | 89 | (d)(e)(j) |  |
| Network Investco BV | Netherlands |  |  |  |  | 07/2022 |  | 1073830 |  | 2979 | (d)(e)(j) |  |
| Olympia TopCo, L.P. |  | Class A |  |  |  | 09/2019 |  | 50000 |  |  | (d)(e)(j) |  |
| OMERS Bluejay Investment Holdings LP |  | Class A |  |  |  | 07/2018 |  | 25 |  | 50 | (d)(e)(j) |  |
| OMERS Wildcats Investment Holdings LLC |  | Class A |  |  |  | 10/2019 |  | 216 |  | 114 | (d)(e)(j) |  |
| SiroMed Equity Holdings, LLC |  |  |  |  |  | 03/2018 |  | 3703 |  | 10 | (d)(e)(j) |  |
| VPP Group Holdings, L.P. |  |  |  |  |  | 12/2021 |  | 50 |  | 62 | (d)(e)(j) |  |
| VPP Group Holdings, L.P. |  | Class A2 |  |  |  | 03/2023 |  | 0 |  | 1 | (d)(e)(j) |  |
| WSHP FC Holdings LLC |  |  |  |  |  | 07/2022 |  | 374 |  | 6 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 5552 |  | 0.11% |
| **Household and Personal Products** | **Household and Personal Products** | **Household and Personal Products** |  |  |  |  |  |  |  |  |  |  |
| CDI Holdings I Corp. |  |  |  |  |  | 12/2021 |  | 50 |  | 20 | (d)(e)(j) |  |
| RMCF V CIV XLIV, L.P. |  |  |  |  |  | 08/2021 |  | 54 |  | 9 | (d)(e)(j) |  |
| Silk Holdings I Corp. |  |  |  |  |  | 05/2023 |  | 228 |  | 604 | (d)(e)(j) |  |
| TCI Holdings, LP |  |  |  |  |  | 11/2024 |  | 9050 |  | 930 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 1563 |  | 0.03% |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| **Insurance** | | | | | | | | | | | | |
| 15484910 Canada Inc. | Canada |  |  |  |  | 04/2025 |  | 2225693 |  | 1553 | (d)(e)(j) |  |
| CFCo, LLC |  | Class B |  |  |  | 09/2023 |  | 5035395 |  |  | (d)(e)(j) |  |
| High Street HoldCo LLC |  | Series A | 10.00% PIK |  |  | 04/2021 |  | 88605 |  | 233 | (d)(e) |  |
| High Street HoldCo LLC |  | Series C | 10.00% PIK |  |  | 04/2021 |  | 563740 |  | 1486 | (d)(e) |  |
| INSZ Holdings, LLC |  |  |  |  |  | 11/2022 |  | 31139 |  | 59 | (d)(e)(j) |  |
| INSZ Holdings, LLC |  |  |  |  |  | 11/2023 |  | 1073000 |  | 2032 | (d)(e)(j) |  |
| Knight Holdings, LP |  |  |  |  |  | 11/2025 |  | 8042 |  | 80 | (d)(e)(j) |  |
| Maple Acquisition Holdings, LP |  | Class A2 |  |  |  | 11/2023 |  | 13871 |  | 327 | (d)(e)(j) |  |
| MDCP Co-Investors (Jade I), L.P. |  |  |  |  |  | 06/2025 |  | 2490000 |  | 3462 | (d)(e)(j) |  |
| Rocket Co-Invest, SLP | Luxembourg |  |  |  |  | 03/2024 |  | 188027 |  | 255 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 9487 |  | 0.19% |
| **Materials** |  |  |  |  |  |  |  |  |  |  |  |  |
| Adonis Acquisition Holdings Parent LLC |  |  |  |  |  | 02/2025 |  | 66089 |  | 1605 | (d)(e)(j) |  |
| Ardagh Holdings Sa |  |  |  |  |  | 11/2025 |  | 1836906 |  | 14483 | (j) |  |
| ASP-r-pac Holdings LP |  | Class A |  |  |  | 12/2021 |  | 514 |  | 46 | (d)(e)(j) |  |
| Buckman PPC Co-Invest LP |  |  |  |  |  | 06/2025 |  | 906000 |  | 1042 | (d)(e)(j) |  |
| KNPAK Holdings, LP |  | Class A |  |  |  | 07/2019 |  | 100000 |  | 124 | (d)(e)(j) |  |
| Meyer Parent, LLC |  |  |  |  |  | 02/2024 |  | 12000 |  | 7 | (d)(e)(j) |  |
| NCP MSI Co-Invest, LP |  |  |  |  |  | 03/2025 |  | 130000 |  | 127 | (d)(e)(j) |  |
| Novipax Parent Holding Company, L.L.C. |  | Class C |  |  |  | 12/2020 |  | 50 |  |  | (d)(e)(j) |  |
| Plaskolite PPC Blocker LLC |  |  |  |  |  | 12/2018 |  | 10 |  |  | (d)(e)(j) |  |
| Pretium PKG Holdings, Inc. |  |  |  |  |  | 03/2026 |  | 47346 |  | 955 | (j) |  |
|  |  |  |  |  |  |  |  |  |  | 18389 |  | 0.37% |
| **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** | **Pharmaceuticals, Biotechnology and Life Sciences** |  |  |  |  |  |  |  |  |  |
| Cobalt Holdings I, LP |  | Class A |  |  |  | 10/2021 |  | 500 |  |  | (d)(e)(j) |  |
| Creek Feeder, L.P. |  |  |  |  |  | 12/2024 |  | 1447000 |  | 2046 | (d)(e)(j) |  |
| Gula Co-Invest II, L.P. |  |  |  |  |  | 04/2025 |  | 28 |  | 37 | (d)(e)(j) |  |
| WCI-BXC Investment Holdings, L.P. |  |  |  |  |  | 11/2023 |  | 126000 |  | 110 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 2193 |  | 0.04% |
| **Real Estate Management and Development** | **Real Estate Management and Development** | **Real Estate Management and Development** |  |  |  |  |  |  |  |  |  |  |
| Illinois Investment S.a.r.l. | Luxembourg | Class A |  |  |  | 09/2021 |  | 3400700 |  |  | (d)(e)(j) |  |
| Illinois Investment S.a.r.l. | Luxembourg | Class B |  |  |  | 09/2021 |  | 3400700 |  |  | (d)(e)(j) |  |
| Illinois Investment S.a.r.l. | Luxembourg | Class C |  |  |  | 09/2021 |  | 3400700 |  |  | (d)(e)(j) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| Illinois Investment S.a.r.l. | Luxembourg | Class D |  |  |  | 09/2021 |  | 3400700 |  |  | (d)(e)(j) |  |
| Illinois Investment S.a.r.l. | Luxembourg | Class E |  |  |  | 09/2021 |  | 3400700 |  |  | (d)(e)(j) |  |
| Illinois Investment S.a.r.l. | Luxembourg | Class F |  |  |  | 09/2021 |  | 3400700 |  |  | (d)(e)(j) |  |
| Illinois Investment S.a.r.l. | Luxembourg | Class G |  |  |  | 09/2021 |  | 3400700 |  |  | (d)(e)(j) |  |
| Illinois Investment S.a.r.l. | Luxembourg | Class H |  |  |  | 09/2021 |  | 3400700 |  |  | (d)(e)(j) |  |
| Illinois Investment S.a.r.l. | Luxembourg | Class I |  |  |  | 09/2021 |  | 3400700 |  |  | (d)(e)(j) |  |
| Illinois Investment S.a.r.l. | Luxembourg |  |  |  |  | 09/2021 |  | 1310564 |  |  | (d)(e)(j) |  |
| Illinois Investment S.a.r.l. | Luxembourg |  |  |  |  | 05/2022 |  | 106292 |  |  | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  |  |  | —% |
| **Software and Services** | **Software and Services** | **Software and Services** |  |  |  |  |  |  |  |  |  |  |
| Abingdon Global Acquisitions Limited | United Kingdom |  |  |  |  | 03/2026 |  | 210 |  | 29 | (d)(e)(j) |  |
| APG Holdings, LLC |  | Class A |  |  |  | 01/2020 |  | 50000 |  | 32 | (d)(e)(j) |  |
| Astorg VII Co-Invest ERT | Luxembourg |  |  |  |  | 01/2020 |  | 1208500 |  | 3018 | (d)(e)(j) |  |
| Avaya Holdings Corp. |  |  |  |  |  | 05/2023 |  | 62250 |  | 924 | (j) |  |
| Bobcat Topco, L.P. |  | Class A-1 |  |  |  | 06/2023 |  | 56770 |  | 48 | (d)(e)(j) |  |
| BV-UFS Aggregator, LLC |  |  |  |  |  | 12/2025 |  | 19611 |  | 33 | (d)(e)(j) |  |
| Consilio Investment Holdings, L.P. |  | Series A |  |  |  | 09/2022 |  | 243 |  | 4 | (d)(e)(j) |  |
| Consilio Investment Holdings, L.P. |  |  |  |  |  | 05/2021 |  | 5038 |  | 81 | (d)(e)(j) |  |
| Cority Parent, Inc. | Canada | Class B-1 |  |  |  | 07/2019 |  | 47536 |  | 2 | (d)(e)(j) |  |
| Destiny Digital Holdings, L.P. |  |  |  |  |  | 05/2021 |  | 3076 |  | 45 | (d)(e)(j) |  |
| Eclipse Investor Parent, L.P. |  | Class A |  |  |  | 09/2024 |  | 102 |  | 91 | (d)(e)(j) |  |
| Elliott Alto Co-Investor Aggregator L.P. |  |  |  |  |  | 09/2022 |  | 500000 |  | 1333 | (d)(e)(j) |  |
| EQT IX Co-Investment (E) SCSP |  |  |  |  |  | 04/2021 |  | 5000 |  | 97 | (d)(e)(j) |  |
| H&F Unite Partners, L.P. |  |  |  |  |  | 05/2019 |  | 50032 |  | 87 | (d)(e)(j) |  |
| Haveli Cascade Co-Invest I, L.P. |  |  |  |  |  | 09/2025 |  | 97000 |  | 96 | (d)(e)(j) |  |
| iCapital, Inc. |  |  |  |  |  | 04/2025 |  | 295434 |  | 4685 | (d)(e)(j) |  |
| Insight PDI Holdings, LLC |  | Class A |  |  |  | 03/2019 |  | 26548 |  | 36 | (d)(e)(j) |  |
| Magic Topco, L.P. |  | Class B |  |  |  | 09/2020 |  | 12975 |  | 52 | (d)(e)(j) |  |
| Magnesium Co- Invest SCSp | Luxembourg |  |  |  |  | 05/2022 |  | 5 |  | 58 | (d)(e)(j) |  |
| Paradigmatic Holdco LLC |  |  |  |  |  | 08/2024 |  | 1057325 |  |  | (d)(e)(j) |  |
| PCMI Ultimate Holdings, LP |  | Class B |  |  |  | 03/2025 |  | 34526 |  |  | (d)(e)(j) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| RMS Group Holdings, Inc. |  |  |  |  |  | 12/2021 |  | 6 |  | 13 | (d)(e)(j) |  |
| Skywalker TopCo, LLC |  |  |  |  |  | 11/2020 |  | 25407 |  | 105 | (d)(e)(j) |  |
| Sunshine Software Holdings, Inc. |  | Class A-1 |  |  |  | 10/2021 |  | 5000 |  | 56 | (d)(e)(j) |  |
| WP Victors Co-Investment, L.P. |  |  |  |  |  | 08/2024 |  | 904163 |  | 2119 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 13044 |  | 0.26% |
| **Sports, Media and Entertainment** | **Sports, Media and Entertainment** | **Sports, Media and Entertainment** |  |  |  |  |  |  |  |  |  |  |
| AE EventsCo Holdings LLC |  |  |  |  |  | 10/2025 |  | 7 |  | 73 | (d)(e)(j) |  |
| AE EventsCo Holdings LLC |  |  |  |  |  | 10/2025 |  | 10 |  | 102 | (d)(e)(j) |  |
| AE EventsCo Holdings LLC |  |  |  |  |  | 10/2025 |  | 5 |  | 48 | (e)(j) |  |
| County Line South Properties, LLC |  | Class A |  |  |  | 12/2024 |  | 8 |  | 2428 | (d)(e)(j) |  |
| Create Music Holdings, LLC |  |  |  |  |  | 02/2026 |  | 27853 |  | 310 | (d)(e)(j) |  |
| Dolphin Center Properties, LLC |  | Class A |  |  |  | 12/2024 |  | 8 |  | 599 | (d)(e)(j) |  |
| Dundee Eros, LP |  |  |  |  |  | 11/2024 |  | 1682452 |  | 1804 | (d)(e)(j) |  |
| Eagle Football Holdings Limited | United Kingdom |  |  |  |  | 09/2023 |  | 14 |  |  | (d)(e)(j) |  |
| FEH Group, LLC. |  | Class A |  |  |  | 12/2024 |  | 8 |  | 83231 | (d)(e)(j) |  |
| GSM Rights Fund II LP |  |  |  |  |  | 03/2025 |  | 561641 |  | 571 | (d)(e)(j) |  |
| Melody Holdings LP |  | Class A-1 |  |  |  | 07/2025 |  | 484 |  | 860 | (d)(e)(j) |  |
| Melody Holdings LP |  | Class A-2 |  |  |  | 07/2025 |  | 484 |  | 96 | (d)(e)(j) |  |
| Production Resource Group, L.L.C. |  |  |  |  |  | 10/2025 |  | 3010 |  | 124 | (d)(e)(j) |  |
| Sandlot Action Sports, LLC |  |  |  |  |  | 05/2024 |  | 3384 |  | 34 | (d)(e)(j) |  |
| South Florida Motorsports, LLC |  | Class A |  |  |  | 12/2024 |  | 8 |  | 7974 | (d)(e)(j) |  |
| South Florida Tennis, LLC |  |  |  |  |  | 10/2025 |  | 8 |  | 2358 | (d)(e)(j) |  |
| Stadium Coinvest (B)-III, L.P. |  |  |  |  |  | 02/2025 |  | 650000 |  | 749 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 101361 |  | 2.05% |
| **Technology Hardware and Equipment** | **Technology Hardware and Equipment** | **Technology Hardware and Equipment** |  |  |  |  |  |  |  |  |  |  |
| PerkinElmer Topco GP, L.L.C. |  | Class A-2 |  |  |  | 01/2022 |  | 365 |  | 54 | (d)(e)(j) |  |
| Repairify Holdings, LLC |  | Class A |  |  |  | 06/2021 |  | 1655 |  | 29 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 83 |  | —% |
| **Transportation** |  |  |  |  |  |  |  |  |  |  |  |  |
| Neovia Acquisition, LLC |  |  |  |  |  | 11/2022 |  | 6 |  |  | (e)(j) |  |
| Providence Equity Partners IX-C L.P. |  |  |  |  |  | 07/2025 |  | 52177 |  | 61 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 61 |  | —% |
| **Utilities** |  |  |  |  |  |  |  |  |  |  |  |  |
| Apex Clean Energy TopCo, LLC |  | Class A |  |  |  | 11/2021 |  | 149776 |  | 25336 | (d)(e)(j) |  |
| Apex Clean Energy TopCo, LLC |  | Class B |  |  |  | 07/2025 |  | 12571 |  | 2127 | (d)(e)(j) |  |
| FIC Matterhorn CF Feeder, LP |  |  |  |  |  | 08/2025 |  | 684 |  | 1 | (d)(e)(j) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | | **% of Net Assets** |
| FIC Matterhorn CF, LP |  |  |  |  |  | 08/2025 |  | 807179 |  | 949 | (d)(e)(j) |  |
|  |  |  |  |  |  |  |  |  |  | 28413 |  | 0.58% |
| **TOTAL COMMON EQUITY (Cost $172,589)** | **TOTAL COMMON EQUITY (Cost $172,589)** | **TOTAL COMMON EQUITY (Cost $172,589)** | **TOTAL COMMON EQUITY (Cost $172,589)** |  |  |  |  |  |  | 249561 |  | 5.05% |
| **WARRANTS(d)(j)** | **WARRANTS(d)(j)** |  |  |  |  |  |  |  |  |  |  |  |
| **Commercial and Professional Services** | **Commercial and Professional Services** | **Commercial and Professional Services** |  |  |  |  |  |  |  |  |  |  |
| New Insight Holdings, Inc. |  |  |  |  |  | 07/2024 |  | 5104 |  |  | (e)(f) |  |
| Priority Waste Super Holdings, LLC |  |  |  |  |  | 08/2023 |  | 4247 |  |  | (e) |  |
| Priority Waste Super Holdings, LLC |  |  |  |  |  | 06/2024 |  | 1937 |  |  | (e)(f) |  |
|  |  |  |  |  |  |  |  |  |  |  |  | —% |
| **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** | **Food, Beverage and Tobacco** |  |  |  |  |  |  |  |  |  |  |
| Gotham Greens Holdings, PBC |  |  |  |  |  | 06/2022 |  | 31842 |  |  | (e)(f) |  |
|  |  |  |  |  |  |  |  |  |  |  |  | —% |
| **Health Care Equipment and Services** | **Health Care Equipment and Services** | **Health Care Equipment and Services** |  |  |  |  |  |  |  |  |  |  |
| Air Medical Buyer Corp |  |  |  |  |  | 03/2018 |  | 122 |  | 4 | (e) |  |
| CHPPR Holdings Inc. |  |  |  |  |  | 12/2023 |  | 13942 |  | 1588 | (e) |  |
| CHPPR Holdings Inc. |  |  |  |  |  | 12/2023 |  | 6604 |  | 574 | (e) |  |
| CHPPR Holdings Inc. |  |  |  |  |  | 12/2023 |  | 7625 |  | 1670 | (e) |  |
| CHPPR Holdings Inc. |  |  |  |  |  | 12/2023 |  | 3054 |  | 669 | (e) |  |
| GMR Buyer Corp. |  |  |  |  |  | 05/2024 |  | 192771 |  | 5410 | (e) |  |
| GMR Buyer Corp. |  |  |  |  |  | 12/2021 |  | 1927 |  | 54 | (e) |  |
| GMR Buyer Corp. |  |  |  |  |  | 05/2024 |  | 766284 |  | 21506 | (e) |  |
| Nomi Health, Inc. |  |  |  |  |  | 07/2023 |  | 2174 |  |  | (e) |  |
| Nomi Health, Inc. |  |  |  |  |  | 06/2024 |  | 4857 |  | 5 | (e) |  |
|  |  |  |  |  |  |  |  |  |  | 31480 |  | 0.64% |
| **Insurance** |  |  |  |  |  |  |  |  |  |  |  |  |
| SelectQuote, Inc. |  |  |  |  |  | 10/2024 |  | 57965 |  |  | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  |  | —% |
| **Software and Services** | **Software and Services** | **Software and Services** |  |  |  |  |  |  |  |  |  |  |
| ID.me, Inc. |  |  |  |  |  | 01/2025 |  | 1198188 |  | 1888 | (e) |  |
|  |  |  |  |  |  |  |  |  |  | 1888 |  | 0.04% |
| **Sports, Media and Entertainment** | **Sports, Media and Entertainment** | **Sports, Media and Entertainment** |  |  |  |  |  |  |  |  |  |  |
| Eagle Football Holdings Limited |  |  |  |  |  | 12/2022 |  | 5 |  |  | (e) |  |
| Eagle Football Holdings Limited |  |  |  |  |  | 12/2022 |  | 5 |  |  | (e) |  |
| Fever Labs, Inc. |  |  |  |  |  | 06/2025 |  | 15704 |  |  | (e) |  |
| League One Volleyball, Inc. |  |  |  |  |  | 01/2025 |  | 8 |  |  | (e) |  |
| PFL MMA, Inc. |  |  |  |  |  | 01/2026 |  | 3 |  |  | (e) |  |
|  |  |  |  |  |  |  |  |  |  |  |  | —% |
| **Transportation** |  |  |  |  |  |  |  |  |  |  |  |  |
| FIP RR Holdings LLC |  |  |  |  |  | 08/2025 |  | 2103 |  | 1481 | (e) |  |
|  |  |  |  |  |  |  |  |  |  | 1481 |  | 0.03% |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Company** | **Country (a)** | **Investment** | **Coupon** | **Reference** | **Spread** | **Acquisition Date** | **Maturity Date** | **Shares** | **Principal Amount (a)** | **Fair Value (a)** | **% of Net Assets** |
| **TOTAL WARRANTS(Cost $3,486)** | **TOTAL WARRANTS(Cost $3,486)** | **TOTAL WARRANTS(Cost $3,486)** | **TOTAL WARRANTS(Cost $3,486)** |  |  |  |  |  |  | 34849 | 0.71% |
| **Total Investments - (Cost $7,345,521)** | **Total Investments - (Cost $7,345,521)** | **Total Investments - (Cost $7,345,521)** |  |  |  |  |  |  |  | 7214153 | 146.05% |
| **Liabilities in Excess of Other Assets** | **Liabilities in Excess of Other Assets** | **Liabilities in Excess of Other Assets** |  |  |  |  |  |  |  | (2274631) | (46.05)% |
| **Net Assets** |  |  |  |  |  |  |  |  |  | $4939521 | 100.00% |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

____________________________________________________

(a)Investment holdings in foreign currencies are converted to U.S. dollars using period end spot rates. Investments are in United States enterprises and all principal balances shown are in U.S. dollars unless otherwise noted.

(b)Variable rate loans to the Fund's portfolio companies bear interest at a rate that may be determined by reference to the Secured Overnight Financing Rate ("SOFR"), or an alternate base rate such as the Bank Bill Swap Bid Rate ("BBSY"), Bank Bill Benchmark Rate ("BKBM"), Canadian Dollar Offered Rate ("CDOR"), Copenhagen Interbank Offered Rate ("CIBOR"), Euro Interbank Offered Rate ("EURIBOR"), Norwegian Interbank Offered Rate ("NIBOR"), Prime Rate ("PRIME"), Sterling Overnight Index Average ("SONIA"), Stockholm Interbank Offered Rate ("STIBOR") or Warsaw Interbank Offered Rate ("WIBOR"), at the borrower's option, which reset semi-annually (S), quarterly (Q), bi-monthly (B), or monthly (M). SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and the stated spread. Stated interest rates in this schedule represents the "all-in" rate as of March 31, 2026.

(c)Variable rate coupon rate shown as of March 31, 2026.

(d)These investments, which as of March 31, 2026 represented 144% of the Fund's net assets or 98% of the Fund's total assets, may be subject to legal restrictions on sales. Acquisition dates are included above for equity securities that may be subject to legal restrictions on sales.

(e)Investments whose values were determined using significant unobservable inputs (Level 3) (See Note 4 to the consolidated financial statements).

(f)These assets are pledged as collateral under the Fund or the Fund's consolidated subsidiaries' various revolving credit facilities.

(g)As of March 31, 2026, the Fund had the following commitments to fund various revolving and delayed draw senior secured and subordinated loans. Such commitments are subject to the satisfaction of certain conditions set forth in the documents governing these loans and there can be no assurance that such conditions will be satisfied.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| 15484880 Canada Inc. | 1st Lien Delay Draw Term Loan | $72 | $— | $72 |
| 15484880 Canada Inc. | 1st Lien Revolving Loan | 297 |  | 297 |
| 15484910 Canada Inc. | Subordinated Delay Draw Term Loan | 445 |  | 445 |
| 3 Step Sports LLC | 1st Lien Delay Draw Term Loan | 1472 |  | 1472 |
| 3 Step Sports LLC | 1st Lien Revolving Loan | 123 | (43) | 80 |
| Abingdon Global Acquisitions Limited | 1st Lien Delay Draw Term Loan | 291 |  | 291 |
| Accommodations Plus Technologies LLC | 1st Lien Revolving Loan | 219 |  | 219 |
| ACP Avenu Buyer, LLC | 1st Lien Delay Draw Term Loan | 2973 |  | 2973 |
| ACP Avenu Buyer, LLC | 1st Lien Revolving Loan | 1057 |  | 1057 |
| Acta GroupCo B.V. | 1st Lien Delay Draw Term Loan | 1732 |  | 1732 |
| ACTFY Buyer, Inc. | 1st Lien Delay Draw Term Loan | 328 |  | 328 |
| ACTFY Buyer, Inc. | 1st Lien Revolving Loan | 476 |  | 476 |
| Activate holdings (US) Corp. | 1st Lien Revolving Loan | 579 |  | 579 |
| Adonis Acquisition Holdings LLC | 1st Lien Delay Draw Term Loan | 430 |  | 430 |
| Adonis Acquisition Holdings LLC | 1st Lien Revolving Loan | 1 | (1) |  |
| Adonis Bidco, Inc. | 1st Lien Delay Draw Term Loan | 12593 |  | 12593 |
| Adonis Bidco, Inc. | 1st Lien Revolving Loan | 5688 |  | 5688 |
| Adonis Financial Funding, LLC | 1st Lien Revolving Loan | 417 | (417) |  |
| Aduro Advisors, LLC | 1st Lien Delay Draw Term Loan | 1006 |  | 1006 |
| Aduro Advisors, LLC | 1st Lien Revolving Loan | 597 |  | 597 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| Aerin Medical Inc. | 1st Lien Delay Draw Term Loan | 754 |  | 754 |
| AeriTek Global US Acquisition Inc. | 1st Lien Revolving Loan | 69 | (13) | 56 |
| AI Titan Parent, Inc. | 1st Lien Delay Draw Term Loan | 1387 |  | 1387 |
| AI Titan Parent, Inc. | 1st Lien Revolving Loan | 1546 |  | 1546 |
| Airx Climate Solutions, Inc. | 1st Lien Delay Draw Term Loan | 1289 |  | 1289 |
| Airx Climate Solutions, Inc. | 1st Lien Revolving Loan | 463 | (44) | 419 |
| Alcami Corporation | 1st Lien Revolving Loan | 28 | (9) | 19 |
| Alcresta Therapeutics, Inc. | 1st Lien Delay Draw Term Loan | 508 |  | 508 |
| Alcresta Therapeutics, Inc. | 1st Lien Revolving Loan | 67 | (16) | 51 |
| Aldinger Company | 1st Lien Delay Draw Term Loan | 380 |  | 380 |
| Aldinger Company | 1st Lien Revolving Loan | 405 | (61) | 344 |
| Aledade, Inc. | 1st Lien Revolving Loan | 4683 | (1639) | 3044 |
| Align Precision Group, LLC | 1st Lien Delay Draw Term Loan | 43 |  | 43 |
| AllClear Military Inc. | 1st Lien Delay Draw Term Loan | 81 |  | 81 |
| AllClear Military Inc. | 1st Lien Revolving Loan | 162 |  | 162 |
| Anaplan, Inc. | 1st Lien Revolving Loan | 381 |  | 381 |
| Andwis Group Limited | 1st Lien Delay Draw Term Loan | 2338 |  | 2338 |
| Antea Group Holding B.V. | 1st Lien Delay Draw Term Loan | 1443 |  | 1443 |
| Antenore Bidco SpA | 1st Lien Delay Draw Term Loan | 1328 |  | 1328 |
| AP Adhesives Holdings, LLC | 1st Lien Delay Draw Term Loan | 1210 |  | 1210 |
| AP Adhesives Holdings, LLC | 1st Lien Revolving Loan | 629 |  | 629 |
| Apex Service Partners, LLC | 1st Lien Revolving Loan | 2131 | (978) | 1153 |
| Apple Bidco Holdings, Inc. | 1st Lien Delay Draw Term Loan | 1017 |  | 1017 |
| Apple Bidco Holdings, Inc. | 1st Lien Revolving Loan | 653 | (109) | 544 |
| Aptean Acquiror Inc. | 1st Lien Delay Draw Term Loan | 551 |  | 551 |
| Aptean Acquiror Inc. | 1st Lien Revolving Loan | 372 | (85) | 287 |
| AQ Sunshine, Inc. | 1st Lien Delay Draw Term Loan | 678 |  | 678 |
| AQ Sunshine, Inc. | 1st Lien Revolving Loan | 1653 | (529) | 1124 |
| Archduke Buyer, Inc. | 1st Lien Revolving Loan | 351 |  | 351 |
| Arete Bidco Limited | 1st Lien Delay Draw Term Loan | 4183 |  | 4183 |
| Arrow Borrower 2025, Inc. | 1st Lien Revolving Loan | 101 |  | 101 |
| Artemis BidCo 2 LLC | 1st Lien Delay Draw Term Loan | 194 |  | 194 |
| Artemis BidCo 2 LLC | 1st Lien Revolving Loan | 1 | (1) |  |
| Artifact Bidco, Inc. | 1st Lien Delay Draw Term Loan | 282 |  | 282 |
| Artifact Bidco, Inc. | 1st Lien Revolving Loan | 252 |  | 252 |
| Artivion, Inc. | 1st Lien Delay Draw Term Loan | 727 |  | 727 |
| Artivion, Inc. | 1st Lien Revolving Loan | 336 | (168) | 168 |
| ASPIRE BIDCO LIMITED | 1st Lien Delay Draw Term Loan | 553 |  | 553 |
| ASP-r-pac Acquisition Co LLC | 1st Lien Revolving Loan | 839 | (789) | 50 |
| Astra Service Partners, LLC | 1st Lien Delay Draw Term Loan | 845 |  | 845 |
| athenahealth Group Inc. | 1st Lien Revolving Loan | 2076 |  | 2076 |
| Avalign Technologies, Inc. | 1st Lien Revolving Loan | 249 | (170) | 79 |
| Avia Pharma AB | 1st Lien Delay Draw Term Loan | 470 |  | 470 |
| AX VI INV3 Holding AB | 1st Lien Delay Draw Term Loan | 2457 |  | 2457 |
| Badia Spices, LLC | 1st Lien Revolving Loan | 211 |  | 211 |
| Bamboo Health Holdings, LLC | 1st Lien Revolving Loan | 212 |  | 212 |
| Bamboo Purchaser, Inc. | 1st Lien Delay Draw Term Loan | 73 |  | 73 |
| Bamboo Purchaser, Inc. | 1st Lien Revolving Loan | 1 | (1) |  |
| Bamboo US BidCo LLC | 1st Lien Revolving Loan | 1413 |  | 1413 |
| Banyan Software Holdings, LLC | 1st Lien Delay Draw Term Loan | 14878 |  | 14878 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| Banyan Software Holdings, LLC | 1st Lien Revolving Loan | 509 | (68) | 441 |
| Bayou Intermediate II, LLC | 1st Lien Delay Draw Term Loan | 121 |  | 121 |
| Bayou Intermediate II, LLC | 1st Lien Revolving Loan | 157 | (67) | 90 |
| BCPE Pequod Buyer, Inc. | 1st Lien Revolving Loan | 3003 |  | 3003 |
| Beacon Pointe Harmony, LLC | 1st Lien Delay Draw Term Loan | 341 |  | 341 |
| Beacon Pointe Harmony, LLC | 1st Lien Revolving Loan | 909 |  | 909 |
| Beacon Wellness Brands, Inc. | 1st Lien Revolving Loan | 123 |  | 123 |
| Bellwether Buyer, L.L.C. | 1st Lien Delay Draw Term Loan | 1092 |  | 1092 |
| Bellwether Buyer, L.L.C. | 1st Lien Revolving Loan | 454 | (118) | 336 |
| Berner Food & Beverage, LLC | 1st Lien Revolving Loan | 262 | (167) | 95 |
| BGI Purchaser, Inc. | 1st Lien Delay Draw Term Loan | 1595 |  | 1595 |
| BGI Purchaser, Inc. | 1st Lien Revolving Loan | 4673 | (2856) | 1817 |
| BGIF IV Fearless Utility Services, Inc. | 1st Lien Delay Draw Term Loan | 162 |  | 162 |
| BGIF IV Fearless Utility Services, Inc. | 1st Lien Revolving Loan | 709 | (59) | 650 |
| Birdie Bidco, Inc. | 1st Lien Delay Draw Term Loan | 318 |  | 318 |
| Birdie Bidco, Inc. | 1st Lien Revolving Loan | 303 |  | 303 |
| Blue Raven Solutions, LLC | 1st Lien Revolving Loan | 424 | (212) | 212 |
| Bluejack Fire Acquisition, Inc. | 1st Lien Delay Draw Term Loan | 1416 |  | 1416 |
| Bluejack Fire Acquisition, Inc. | 1st Lien Revolving Loan | 294 | (106) | 188 |
| BNZ TopCo B.V. | Subordinated Delay Draw Term Loan | 7775 |  | 7775 |
| Bobcat Purchaser, LLC | 1st Lien Revolving Loan | 306 |  | 306 |
| Bobtail AcquisitionCo, LLC | 1st Lien Delay Draw Term Loan | 535 |  | 535 |
| Bobtail AcquisitionCo, LLC | 1st Lien Revolving Loan | 309 | (35) | 274 |
| Bottomline Technologies, Inc. and Legal Spend Holdings, LLC | 1st Lien Revolving Loan | 1912 |  | 1912 |
| BrightStar Group Holdings, Inc. | 1st Lien Revolving Loan | 505 |  | 505 |
| Bulab Holdings, Inc. | 1st Lien Delay Draw Term Loan | 4996 |  | 4996 |
| Bulab Holdings, Inc. | 1st Lien Revolving Loan | 6101 |  | 6101 |
| Bumble Bidco Limited | 1st Lien Delay Draw Term Loan | 1792 |  | 1792 |
| Burgess Point Purchaser Corporation | 1st Lien Delay Draw Term Loan | 2153 |  | 2153 |
| Businessolver.com, Inc. | 1st Lien Delay Draw Term Loan | 182 |  | 182 |
| Businessolver.com, Inc. | 1st Lien Revolving Loan | 84 |  | 84 |
| BVI Medical, Inc. | 1st Lien Delay Draw Term Loan | 206 |  | 206 |
| BVI Medical, Inc. | 1st Lien Revolving Loan | 1586 |  | 1586 |
| C Block Development LLC | 1st Lien Delay Draw Term Loan | 40439 |  | 40439 |
| Calculus Acquico Sarl | 1st Lien Delay Draw Term Loan | 814 |  | 814 |
| Cambrex Corporation | 1st Lien Revolving Loan | 5889 | (1346) | 4543 |
| Cannon Bridge Designated Activity Company | 1st Lien Revolving Loan | 7060 | (4913) | 2147 |
| Capnor Connery Bidco A/S | 1st Lien Delay Draw Term Loan | 419 |  | 419 |
| Capstone Acquisition Holdings, Inc. | 1st Lien Revolving Loan | 3135 |  | 3135 |
| Captive Resources Midco, LLC | 1st Lien Revolving Loan | 185 |  | 185 |
| Cardinal Parent, Inc. | 1st Lien Revolving Loan | 1 |  | 1 |
| Cards-Live Oak Holdings, Inc. | 1st Lien Delay Draw Term Loan | 3061 |  | 3061 |
| Cards-Live Oak Holdings, Inc. | 1st Lien Revolving Loan | 2669 | (1001) | 1668 |
| Cascade Parent Inc. | 1st Lien Revolving Loan | 52 |  | 52 |
| CB-SDG Limited | 1st Lien Delay Draw Term Loan | 72 |  | 72 |
| CBTS BORROWER, LLC | 1st Lien Delay Draw Term Loan | 950 |  | 950 |
| Celnor Group Limited | 1st Lien Delay Draw Term Loan | 3651 |  | 3651 |
| CentralSquare Technologies, LLC | 1st Lien Revolving Loan | 3402 |  | 3402 |
| Cezanne Bidco | 1st Lien Delay Draw Term Loan | 2976 |  | 2976 |
| CFG Investments WH Limited | 1st Lien Revolving Loan | 5100 | (664) | 4436 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| Chariot Buyer LLC | 1st Lien Revolving Loan | 100 |  | 100 |
| Churchill Opco Holdings LLC | 1st Lien Delay Draw Term Loan | 1004 |  | 1004 |
| Churchill Opco Holdings LLC | 1st Lien Revolving Loan | 381 |  | 381 |
| City Line Distributors LLC | 1st Lien Revolving Loan | 2 |  | 2 |
| Clarion Home Services Group, LLC | 1st Lien Revolving Loan | 416 | (354) | 62 |
| Clearstead Advisors, LLC | 1st Lien Delay Draw Term Loan | 206 |  | 206 |
| Clearstead Advisors, LLC | 1st Lien Revolving Loan | 62 | (32) | 30 |
| Cloud Software Group, Inc. | 1st Lien Revolving Loan | 2574 |  | 2574 |
| ClubCorp Holdings, Inc. | 1st Lien Delay Draw Term Loan | 97 |  | 97 |
| ClubCorp Holdings, Inc. | 1st Lien Revolving Loan | 169 |  | 169 |
| CMG HoldCo, LLC | 1st Lien Delay Draw Term Loan | 1733 |  | 1733 |
| CMG HoldCo, LLC | 1st Lien Revolving Loan | 1465 | (275) | 1190 |
| CMI Parent, Inc. | 1st Lien Delay Draw Term Loan | 1083 |  | 1083 |
| CMI Parent, Inc. | 1st Lien Revolving Loan | 485 |  | 485 |
| Cobalt Buyer Sub, Inc. | 1st Lien Revolving Loan | 1195 | (896) | 299 |
| Collision SP Subco, LLC | 1st Lien Delay Draw Term Loan | 646 |  | 646 |
| Collision SP Subco, LLC | 1st Lien Revolving Loan | 88 | (13) | 75 |
| Comet Software | 1st Lien Delay Draw Term Loan | 314 |  | 314 |
| Computer Services, Inc. | 1st Lien Delay Draw Term Loan | 837 |  | 837 |
| Confirmasoft AB | 1st Lien Delay Draw Term Loan | 1406 |  | 1406 |
| Continental Acquisition Holdings, Inc. | 1st Lien Revolving Loan | 1 |  | 1 |
| Convera International Holdings Limited | 1st Lien Revolving Loan | 1917 |  | 1917 |
| CoreRx, Inc. | 1st Lien Revolving Loan | 1 | (1) |  |
| Cority Software Inc. | 1st Lien Revolving Loan | 1602 |  | 1602 |
| Cornerstone OnDemand, Inc. | 1st Lien Revolving Loan | 100 | (22) | 78 |
| Coupa Holdings, LLC | 1st Lien Delay Draw Term Loan | 20 |  | 20 |
| Coupa Holdings, LLC | 1st Lien Revolving Loan | 1 |  | 1 |
| CPIG Holdco Inc. | 1st Lien Revolving Loan | 2 | (1) | 1 |
| CR Bidco Limited | 1st Lien Delay Draw Term Loan | 146 |  | 146 |
| Cradle Lux Bidco S.a r.l | 1st Lien Delay Draw Term Loan | 256 |  | 256 |
| Create Music Holdings, LLC | 2nd Lien Delay Draw Term Loan | 753 |  | 753 |
| Creek Parent, Inc. | 1st Lien Revolving Loan | 7992 |  | 7992 |
| Crossco (1469) Limited | 1st Lien Delay Draw Term Loan | 1024 |  | 1024 |
| Crown CT Parent Inc. | 1st Lien Revolving Loan | 903 | (512) | 391 |
| CST Holding Company | 1st Lien Revolving Loan | 80 | (24) | 56 |
| CVP Holdco, Inc. | 1st Lien Delay Draw Term Loan | 3495 |  | 3495 |
| CVP Holdco, Inc. | 1st Lien Revolving Loan | 3539 |  | 3539 |
| Cyber US Bidco LLC | 1st Lien Delay Draw Term Loan | 90 |  | 90 |
| Cyber US Bidco LLC | 1st Lien Revolving Loan | 36 |  | 36 |
| Databricks, Inc. | 1st Lien Delay Draw Term Loan | 2470 |  | 2470 |
| Datix Bidco Limited | 1st Lien Delay Draw Term Loan | 891 |  | 891 |
| Datix Bidco Limited | 1st Lien Revolving Loan | 1423 |  | 1423 |
| Davidson Hotel Company LLC | 1st Lien Delay Draw Term Loan | 986 |  | 986 |
| Davidson Hotel Company LLC | 1st Lien Revolving Loan | 567 |  | 567 |
| DCert Buyer, Inc. | 1st Lien Revolving Loan | 185 |  | 185 |
| DecoPac, Inc. | 1st Lien Revolving Loan | 4655 | (1058) | 3597 |
| Dedomena Bidco Limited | 1st Lien Delay Draw Term Loan | 389 |  | 389 |
| Denali Intermediate Holdings, Inc. | 1st Lien Revolving Loan | 7443 |  | 7443 |
| DFC Global Facility Borrower III LLC | 1st Lien Revolving Loan | 28731 | (24456) | 4275 |
| Diamond Mezzanine 24 LLC | 1st Lien Revolving Loan | 321 | (321) |  |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| Diligent Corporation | 1st Lien Delay Draw Term Loan | 926 |  | 926 |
| Diligent Corporation | 1st Lien Revolving Loan | 669 | (147) | 522 |
| Divisions Holding Corporation | 1st Lien Revolving Loan | 99 |  | 99 |
| Dorado Bidco, Inc. | 1st Lien Delay Draw Term Loan | 2232 |  | 2232 |
| Dorado Bidco, Inc. | 1st Lien Revolving Loan | 698 |  | 698 |
| DOXA Insurance Holdings LLC | 1st Lien Delay Draw Term Loan | 911 |  | 911 |
| DOXA Insurance Holdings LLC | 1st Lien Revolving Loan | 211 | (60) | 151 |
| Doxim Inc. | 1st Lien Revolving Loan | 2198 |  | 2198 |
| DP Flores Holdings, LLC | 1st Lien Delay Draw Term Loan | 1115 |  | 1115 |
| DP Flores Holdings, LLC | 1st Lien Revolving Loan | 513 |  | 513 |
| Drivecentric Holdings, LLC | 1st Lien Delay Draw Term Loan | 449 |  | 449 |
| Drivecentric Holdings, LLC | 1st Lien Revolving Loan | 518 |  | 518 |
| Drogon Bidco Inc. | 1st Lien Delay Draw Term Loan | 310 |  | 310 |
| Drogon Bidco Inc. | 1st Lien Revolving Loan | 445 |  | 445 |
| DRS Holdings III, Inc. | 1st Lien Revolving Loan | 183 |  | 183 |
| DuraServ LLC | 1st Lien Delay Draw Term Loan | 328 |  | 328 |
| DuraServ LLC | 1st Lien Revolving Loan | 227 | (82) | 145 |
| Eagle Football Holdings BidCo Limited | Subordinated Delay Draw Term Loan | 60 |  | 60 |
| EC Partners Spanish Bidco, S.L.U. | 1st Lien Delay Draw Term Loan | 641 |  | 641 |
| ECG Bidco S.A.S. | 1st Lien Delay Draw Term Loan | 3340 |  | 3340 |
| Echo Purchaser, Inc. | 1st Lien Revolving Loan | 213 |  | 213 |
| Echo Senior Finco, LLC | 1st Lien Delay Draw Term Loan | 580 |  | 580 |
| Echo Senior Finco, LLC | 1st Lien Revolving Loan | 449 |  | 449 |
| Eclipse Buyer, Inc. | 1st Lien Delay Draw Term Loan | 7630 |  | 7630 |
| Eclipse Buyer, Inc. | 1st Lien Revolving Loan | 4351 |  | 4351 |
| Edition Holdings, Inc. | 1st Lien Delay Draw Term Loan | 458 |  | 458 |
| Edition Holdings, Inc. | 1st Lien Revolving Loan | 192 |  | 192 |
| Edmunds GovTech, Inc. | 1st Lien Revolving Loan | 64 | (32) | 32 |
| EG MIDCO APS | 1st Lien Delay Draw Term Loan | 4475 |  | 4475 |
| Einstein Parent, Inc. | 1st Lien Revolving Loan | 537 |  | 537 |
| Elemica, Inc. | 1st Lien Revolving Loan | 2180 |  | 2180 |
| Elevation Services Parent Holdings, LLC | 1st Lien Revolving Loan | 631 | (454) | 177 |
| Elliott Davis Advisory, LLC | 1st Lien Delay Draw Term Loan | 160 |  | 160 |
| Elliott Davis Advisory, LLC | 1st Lien Revolving Loan | 280 | (84) | 196 |
| ELM DebtCo, LLC | 1st Lien Delay Draw Term Loan | 88 |  | 88 |
| ELM DebtCo, LLC | 1st Lien Revolving Loan | 99 |  | 99 |
| EMB Purchaser, Inc. | 1st Lien Delay Draw Term Loan | 8117 |  | 8117 |
| EMB Purchaser, Inc. | 1st Lien Revolving Loan | 6840 | (2280) | 4560 |
| Empower Payments Investor, LLC | 1st Lien Delay Draw Term Loan | 171 |  | 171 |
| Empower Payments Investor, LLC | 1st Lien Revolving Loan | 60 |  | 60 |
| Endurance PT Technology Buyer Corporation | 1st Lien Revolving Loan | 50 | (20) | 30 |
| Envisage Dental UK Limited | 1st Lien Delay Draw Term Loan | 1008 |  | 1008 |
| Erasmus Acquisition Holding B.V. | 1st Lien Delay Draw Term Loan | 609 |  | 609 |
| ESHA Intermediate, LLC | 1st Lien Delay Draw Term Loan | 319 |  | 319 |
| ESHA Intermediate, LLC | 1st Lien Revolving Loan | 285 |  | 285 |
| Essential Services Holding Corporation | 1st Lien Delay Draw Term Loan | 4179 |  | 4179 |
| Essential Services Holding Corporation | 1st Lien Revolving Loan | 2612 | (1045) | 1567 |
| Eternal Aus Bidco Pty Ltd | 1st Lien Delay Draw Term Loan | 98 |  | 98 |
| Europa Bidco Limited | 1st Lien Delay Draw Term Loan | 2944 |  | 2944 |
| EuroParcs Topholding B.V. | 1st Lien Delay Draw Term Loan | 326 |  | 326 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| EVEREST BIDCO I, INC. | 1st Lien Delay Draw Term Loan | 564 |  | 564 |
| EVEREST BIDCO I, INC. | 1st Lien Revolving Loan | 301 |  | 301 |
| Evolent Health LLC | 1st Lien Revolving Loan | 3 | (2) | 1 |
| Excel Fitness Consolidator LLC | 1st Lien Delay Draw Term Loan | 146 |  | 146 |
| Excel Fitness Consolidator LLC | 1st Lien Revolving Loan | 41 | (31) | 10 |
| Excelitas Technologies Corp. | 1st Lien Delay Draw Term Loan | 2092 |  | 2092 |
| ExtraHop Networks, Inc. | 1st Lien Revolving Loan | 420 | (336) | 84 |
| Fever Labs, Inc. | 1st Lien Delay Draw Term Loan | 1323 |  | 1323 |
| Fever Labs, Inc. | 1st Lien Revolving Loan | 5323 | (2703) | 2620 |
| Firebird Acquisition Corp, Inc. | 1st Lien Delay Draw Term Loan | 667 |  | 667 |
| Firebird Acquisition Corp, Inc. | 1st Lien Revolving Loan | 473 |  | 473 |
| Fitness Ventures Holdings, Inc. | 1st Lien Delay Draw Term Loan | 424 |  | 424 |
| Fitness Ventures Holdings, Inc. | 1st Lien Revolving Loan | 140 | (131) | 9 |
| FL Hawk Intermediate Holdings, Inc. | 1st Lien Revolving Loan | 2646 |  | 2646 |
| Flexential Topco Corporation | 1st Lien Revolving Loan | 3000 | (3000) |  |
| Flexera Software LLC | 1st Lien Revolving Loan | 15 |  | 15 |
| Flint Opco, LLC | 1st Lien Delay Draw Term Loan | 1176 |  | 1176 |
| Flint Opco, LLC | 1st Lien Revolving Loan | 1 |  | 1 |
| Flywheel Acquireco, Inc. | 1st Lien Revolving Loan | 1664 |  | 1664 |
| Forward Keystone Holdings, LP | Subordinated Delay Draw Term Loan | 1094 |  | 1094 |
| Fossil Group, Inc. | 1st Lien Revolving Loan | 805 | (140) | 665 |
| Foundation Consumer Brands, LLC | 1st Lien Revolving Loan | 788 |  | 788 |
| Foundation Risk Partners, Corp. | 1st Lien Revolving Loan | 3846 | (721) | 3125 |
| Frontline Road Safety Operations, LLC | 1st Lien Delay Draw Term Loan | 147 |  | 147 |
| Frontline Road Safety Operations, LLC | 1st Lien Revolving Loan | 5513 |  | 5513 |
| G702 Buyer, Inc. | 1st Lien Revolving Loan | 71 |  | 71 |
| Galaxy Buyer, Inc. | 1st Lien Delay Draw Term Loan | 626 |  | 626 |
| Galaxy Buyer, Inc. | 1st Lien Revolving Loan | 190 |  | 190 |
| Galway Borrower LLC | 1st Lien Delay Draw Term Loan | 2656 |  | 2656 |
| Galway Borrower LLC | 1st Lien Revolving Loan | 1691 | (643) | 1048 |
| GC Waves Holdings, Inc. | 1st Lien Delay Draw Term Loan | 170 |  | 170 |
| GC Waves Holdings, Inc. | 1st Lien Revolving Loan | 173 |  | 173 |
| Generator Buyer, Inc. | 1st Lien Delay Draw Term Loan | 155 |  | 155 |
| Generator Buyer, Inc. | 1st Lien Revolving Loan | 260 |  | 260 |
| GENERATOR US BUYER, INC. | 1st Lien Delay Draw Term Loan | 784 |  | 784 |
| Gestion ABS Bidco Inc./ABS Bidco Holdings Inc. | 1st Lien Delay Draw Term Loan | 194 |  | 194 |
| Gestion ABS Bidco Inc./ABS Bidco Holdings Inc. | 1st Lien Revolving Loan | 71 |  | 71 |
| GHP-VGS Purchaser LLC | 1st Lien Delay Draw Term Loan | 926 |  | 926 |
| GHP-VGS Purchaser LLC | 1st Lien Revolving Loan | 285 |  | 285 |
| GHX Ultimate Parent Corporation | 1st Lien Revolving Loan | 1946 |  | 1946 |
| Global Music Rights, LLC | 1st Lien Revolving Loan | 6442 |  | 6442 |
| GMF Parent, Inc. | 1st Lien Delay Draw Term Loan | 941 |  | 941 |
| GMF Parent, Inc. | 1st Lien Revolving Loan | 366 | (13) | 353 |
| GNZ Energy Bidco Limited | 1st Lien Delay Draw Term Loan | 1126 |  | 1126 |
| Goldeneye Parent, LLC | 1st Lien Revolving Loan | 373 |  | 373 |
| Goose Borrower, L.P. | 1st Lien Revolving Loan | 674 |  | 674 |
| GreatBear Bidco Limited | 1st Lien Delay Draw Term Loan | 76 |  | 76 |
| Grit Buyer, Inc. | 1st Lien Delay Draw Term Loan | 262 |  | 262 |
| Grit Buyer, Inc. | 1st Lien Revolving Loan | 94 |  | 94 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| GS SEER Group Borrower LLC | 1st Lien Delay Draw Term Loan | 20 |  | 20 |
| GS SEER Group Borrower LLC | 1st Lien Revolving Loan | 37 | (15) | 22 |
| GSV Purchaser, Inc. | 1st Lien Delay Draw Term Loan | 1704 |  | 1704 |
| GSV Purchaser, Inc. | 1st Lien Revolving Loan | 1202 |  | 1202 |
| GTCR Everest Borrower, LLC | 1st Lien Revolving Loan | 211 |  | 211 |
| GTCR F Buyer Corp. | 1st Lien Delay Draw Term Loan | 139 |  | 139 |
| GTCR F Buyer Corp. | 1st Lien Revolving Loan | 45 | (3) | 42 |
| Guidepoint Security Holdings, LLC | 1st Lien Delay Draw Term Loan | 222 |  | 222 |
| Guidepoint Security Holdings, LLC | 1st Lien Revolving Loan | 251 |  | 251 |
| Hakken Bidco B.V. | 1st Lien Delay Draw Term Loan | 725 |  | 725 |
| Hamilton Thorne Inc. | 1st Lien Delay Draw Term Loan | 729 |  | 729 |
| Harbourvest Global Private Equity Limited | 1st Lien Revolving Loan | 24000 | (11400) | 12600 |
| HarbourVest Structured Solutions 2025 L.P. | Subordinated Delay Draw Term Loan | 7924 |  | 7924 |
| HBH Buyer, LLC | 1st Lien Delay Draw Term Loan | 103 |  | 103 |
| HBH Buyer, LLC | 1st Lien Revolving Loan | 602 | (158) | 444 |
| Healthco Investment Ltd | 1st Lien Delay Draw Term Loan | 849 |  | 849 |
| Heavy Construction Systems Specialists, LLC | 1st Lien Revolving Loan | 410 |  | 410 |
| HH-Stella, Inc. | 1st Lien Delay Draw Term Loan | 1174 |  | 1174 |
| HH-Stella, Inc. | 1st Lien Revolving Loan | 444 |  | 444 |
| HIG OPERATIONS HOLDINGS, INC. | 1st Lien Delay Draw Term Loan | 525 |  | 525 |
| High Street Buyer, Inc. | 1st Lien Delay Draw Term Loan | 488 |  | 488 |
| High Street Buyer, Inc. | 1st Lien Revolving Loan | 688 |  | 688 |
| Highline Aftermarket Acquisition, LLC | 1st Lien Revolving Loan | 2 |  | 2 |
| Hills Distribution, Inc. | 1st Lien Delay Draw Term Loan | 480 |  | 480 |
| Hills Distribution, Inc. | 1st Lien Revolving Loan | 425 | (255) | 170 |
| Himalaya TopCo LLC | 1st Lien Delay Draw Term Loan | 9000 |  | 9000 |
| Himalaya TopCo LLC | 1st Lien Revolving Loan | 9314 | (1449) | 7865 |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC) | 1st Lien Delay Draw Term Loan | 1156 |  | 1156 |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC) | 1st Lien Revolving Loan | 2068 | (422) | 1646 |
| HP RSS Buyer, Inc. | 1st Lien Delay Draw Term Loan | 1128 |  | 1128 |
| HuFriedy Group Acquisition LLC | 1st Lien Delay Draw Term Loan | 1497 |  | 1497 |
| HuFriedy Group Acquisition LLC | 1st Lien Revolving Loan | 2102 |  | 2102 |
| Hyland Software, Inc. | 1st Lien Revolving Loan | 626 |  | 626 |
| Icefall Parent, Inc. | 1st Lien Revolving Loan | 154 |  | 154 |
| ID.me, LLC | 1st Lien Delay Draw Term Loan | 1524 |  | 1524 |
| ID.me, LLC | 1st Lien Revolving Loan | 2309 |  | 2309 |
| IFH Franchisee Holdings, LLC | 1st Lien Delay Draw Term Loan | 880 |  | 880 |
| IFH Franchisee Holdings, LLC | 1st Lien Revolving Loan | 1737 | (1158) | 579 |
| Infinity Home Services HoldCo, Inc. | 1st Lien Delay Draw Term Loan | 3969 |  | 3969 |
| Infinity Home Services HoldCo, Inc. | 1st Lien Revolving Loan | 456 | (114) | 342 |
| Innovative Food Supplements Ltd | 1st Lien Delay Draw Term Loan | 1167 |  | 1167 |
| Inspiring Generations B.V. | 1st Lien Delay Draw Term Loan | 185 |  | 185 |
| Inszone Mid, LLC | 1st Lien Delay Draw Term Loan | 952 |  | 952 |
| Inszone Mid, LLC | 1st Lien Revolving Loan | 1291 |  | 1291 |
| Internet Truckstop Group LLC | 1st Lien Revolving Loan | 302 |  | 302 |
| Intero Integrity Services Group B.V. | 1st Lien Delay Draw Term Loan | 565 |  | 565 |
| IQN Holding Corp. | 1st Lien Revolving Loan | 629 | (367) | 262 |
| IRI Group Holdings, Inc. | 1st Lien Revolving Loan | 1885 |  | 1885 |
| JAMS Buyer LLC | 1st Lien Delay Draw Term Loan | 625 |  | 625 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| JAMS Buyer LLC | 1st Lien Revolving Loan | 349 |  | 349 |
| Jeppesen Holdings, LLC | 1st Lien Revolving Loan | 66 |  | 66 |
| Jones Fish Hatcheries & Distributors, LLC | 1st Lien Delay Draw Term Loan | 924 |  | 924 |
| Jones Fish Hatcheries & Distributors, LLC | 1st Lien Revolving Loan | 254 |  | 254 |
| JSG II, Inc. and Checkers USA, Inc. | 1st Lien Delay Draw Term Loan | 50 |  | 50 |
| JSG II, Inc. and Checkers USA, Inc. | 1st Lien Revolving Loan | 22 |  | 22 |
| Kairos Bidco Limited | 1st Lien Revolving Loan | 116 | (12) | 104 |
| King Risk Partners, LLC | 1st Lien Delay Draw Term Loan | 1884 |  | 1884 |
| King Risk Partners, LLC | 1st Lien Revolving Loan | 261 |  | 261 |
| Kings Buyer, LLC | 1st Lien Revolving Loan | 186 | (132) | 54 |
| Knight AcquireCo, LLC | 1st Lien Delay Draw Term Loan | 693 |  | 693 |
| Koala Investment Holdings, Inc. | 1st Lien Delay Draw Term Loan | 181 |  | 181 |
| Koala Investment Holdings, Inc. | 1st Lien Revolving Loan | 85 |  | 85 |
| Kohlberg Private Credit Investors Rated Feeder-L, L.L.C. | Subordinated Delay Draw Term Loan | 2337 |  | 2337 |
| KPS Global LLC | 1st Lien Revolving Loan | 1359 |  | 1359 |
| Laboratories Bidco LLC | 1st Lien Revolving Loan | 1642 | (1617) | 25 |
| LBC Woodlands Purchaser LLC | 1st Lien Delay Draw Term Loan | 564 |  | 564 |
| LBC Woodlands Purchaser LLC | 1st Lien Revolving Loan | 611 | (49) | 562 |
| League One Volleyball Clubs, LLC | 1st Lien Delay Draw Term Loan | 2 |  | 2 |
| LeanTaaS Holdings, Inc. | 1st Lien Delay Draw Term Loan | 2767 |  | 2767 |
| LEG Purchaser Inc | 1st Lien Revolving Loan | 119 |  | 119 |
| Legends Hospitality Holding Company, LLC | 1st Lien Revolving Loan | 600 | (315) | 285 |
| Leviathan Intermediate Holdco, LLC | 1st Lien Revolving Loan | 13 |  | 13 |
| LGDN Bidco Limited | 1st Lien Delay Draw Term Loan | 446 |  | 446 |
| LHS Borrower, LLC | 1st Lien Revolving Loan | 192 | (50) | 142 |
| Lightbeam Bidco, Inc. | 1st Lien Delay Draw Term Loan | 268 |  | 268 |
| Lightbeam Bidco, Inc. | 1st Lien Revolving Loan | 1 |  | 1 |
| Livewire Acquisition, Inc. | 1st Lien Delay Draw Term Loan | 755 |  | 755 |
| Livewire Acquisition, Inc. | 1st Lien Revolving Loan | 754 | (407) | 347 |
| LivTech Purchaser, Inc. | 1st Lien Delay Draw Term Loan | 289 |  | 289 |
| LivTech Purchaser, Inc. | 1st Lien Revolving Loan | 384 |  | 384 |
| LJ Perimeter Buyer, Inc. | 1st Lien Delay Draw Term Loan | 1003 |  | 1003 |
| MARI EVENTS MIDCO LLC | 1st Lien Delay Draw Term Loan | 10 |  | 10 |
| MASCO GROUP S.P.A. | 1st Lien Delay Draw Term Loan | 1714 |  | 1714 |
| Maximus BidCo AB | 1st Lien Delay Draw Term Loan | 6216 |  | 6216 |
| MCVIII Bidco Group B.V. | 1st Lien Delay Draw Term Loan | 110 |  | 110 |
| Medlar Bidco Limited | 1st Lien Delay Draw Term Loan | 1601 |  | 1601 |
| Merit Financial Group, LLC | 1st Lien Delay Draw Term Loan | 208 |  | 208 |
| Merit Financial Group, LLC | 1st Lien Revolving Loan | 198 | (141) | 57 |
| Merit Software Finance Holdings, LLC | 1st Lien Delay Draw Term Loan | 677 |  | 677 |
| Merit Software Finance Holdings, LLC | 1st Lien Revolving Loan | 206 |  | 206 |
| Metatiedot Bidco Oy | 1st Lien Revolving Loan | 649 | (156) | 493 |
| Meyer Laboratory, LLC | 1st Lien Revolving Loan | 192 | (45) | 147 |
| ML Holdco, Inc. | 1st Lien Delay Draw Term Loan | 4742 |  | 4742 |
| Moderna, Inc. | 1st Lien Delay Draw Term Loan | 48526 |  | 48526 |
| Modernizing Medicine, Inc. | 1st Lien Revolving Loan | 2111 |  | 2111 |
| Monica Holdco (US), Inc. | 1st Lien Delay Draw Term Loan | 2135 |  | 2135 |
| Monica Holdco (US), Inc. | 1st Lien Revolving Loan | 2347 |  | 2347 |
| Mountaineer Merger Corporation | 1st Lien Revolving Loan | 5375 | (2905) | 2470 |
| Movares Group B.V. | 1st Lien Delay Draw Term Loan | 499 |  | 499 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| Mr. Greens Intermediate, LLC | 1st Lien Delay Draw Term Loan | 768 |  | 768 |
| Mr. Greens Intermediate, LLC | 1st Lien Revolving Loan | 146 | (58) | 88 |
| MRI Software LLC | 1st Lien Delay Draw Term Loan | 361 |  | 361 |
| MRI Software LLC | 1st Lien Revolving Loan | 631 | (158) | 473 |
| Msis Holdings, Inc. | 1st Lien Delay Draw Term Loan | 1164 |  | 1164 |
| Msis Holdings, Inc. | 1st Lien Revolving Loan | 830 |  | 830 |
| Mustang Prospects Purchaser, LLC | 1st Lien Revolving Loan | 284 |  | 284 |
| NAMSA Holdco, LLC | 1st Lien Delay Draw Term Loan | 995 |  | 995 |
| NAMSA Holdco, LLC | 1st Lien Revolving Loan | 1 | (1) |  |
| NCP-MSI Buyer, Inc. | 1st Lien Delay Draw Term Loan | 887 |  | 887 |
| NCP-MSI Buyer, Inc. | 1st Lien Revolving Loan | 1031 | (739) | 292 |
| Nelipak Holding Company | 1st Lien Delay Draw Term Loan | 990 |  | 990 |
| Nelipak Holding Company | 1st Lien Revolving Loan | 550 | (87) | 463 |
| Neptune BidCo US Inc. | 1st Lien Revolving Loan | 2988 |  | 2988 |
| Netsmart Technologies, Inc. | 1st Lien Delay Draw Term Loan | 4473 |  | 4473 |
| Netsmart Technologies, Inc. | 1st Lien Revolving Loan | 5311 |  | 5311 |
| Next Holdco, LLC | 1st Lien Revolving Loan | 37 |  | 37 |
| NMC Skincare Intermediate Holdings II, LLC | 1st Lien Revolving Loan | 340 | (181) | 159 |
| North Haven Fairway Buyer, LLC | 1st Lien Delay Draw Term Loan | 1648 |  | 1648 |
| North Haven Fairway Buyer, LLC | 1st Lien Revolving Loan | 253 | (54) | 199 |
| North Star Acquisitionco, LLC | 1st Lien Revolving Loan | 621 |  | 621 |
| Northwinds Holding, Inc. | 1st Lien Delay Draw Term Loan | 544 |  | 544 |
| Northwinds Holding, Inc. | 1st Lien Revolving Loan | 965 |  | 965 |
| Oak Funding LLC | 1st Lien Delay Draw Term Loan | 6423 |  | 6423 |
| Oakbridge Insurance Agency LLC | 1st Lien Delay Draw Term Loan | 756 |  | 756 |
| Oakbridge Insurance Agency LLC | 1st Lien Revolving Loan | 114 | (26) | 88 |
| Odevo AB | 1st Lien Delay Draw Term Loan | 166 |  | 166 |
| Oiva Isannointi Group Oy | 1st Lien Delay Draw Term Loan | 223 |  | 223 |
| OLIFAN GROUP PARTNERS | 1st Lien Delay Draw Term Loan | 243 |  | 243 |
| Omnigo Software, LLC | 1st Lien Delay Draw Term Loan | 43 |  | 43 |
| Omnigo Software, LLC | 1st Lien Revolving Loan | 55 |  | 55 |
| Optio Group Limited | 1st Lien Delay Draw Term Loan | 1301 |  | 1301 |
| Orange Barrel Media, LLC | 1st Lien Revolving Loan | 2080 | (166) | 1914 |
| Pallas NZ Funding Trust No. 1 | 1st Lien Revolving Loan | 3595 | (3595) |  |
| Panther NewCo | 1st Lien Delay Draw Term Loan | 1194 |  | 1194 |
| Paris US Holdco, Inc. & 1001028292 Ontario Inc. | 1st Lien Delay Draw Term Loan | 1516 |  | 1516 |
| Paris US Holdco, Inc. & 1001028292 Ontario Inc. | 1st Lien Revolving Loan | 1075 | (81) | 994 |
| Pathstone Family Office LLC | 1st Lien Delay Draw Term Loan | 532 |  | 532 |
| Pathstone Family Office LLC | 1st Lien Revolving Loan | 629 | (151) | 478 |
| Patriot Growth Insurance Services, LLC | 1st Lien Revolving Loan | 250 |  | 250 |
| Pave America Holding, LLC | 1st Lien Delay Draw Term Loan | 100 |  | 100 |
| Pave America Holding, LLC | 1st Lien Revolving Loan | 124 | (44) | 80 |
| PCIA SPV-3, LLC | 1st Lien Delay Draw Term Loan | 1854 |  | 1854 |
| PCIA SPV-3, LLC | 1st Lien Revolving Loan | 929 |  | 929 |
| PCMI Parent, LLC | 1st Lien Revolving Loan | 628 |  | 628 |
| PCS Midco, Inc. | 1st Lien Delay Draw Term Loan | 144 |  | 144 |
| PCS Midco, Inc. | 1st Lien Revolving Loan | 75 |  | 75 |
| PDDS Holdco, Inc. | 1st Lien Revolving Loan | 88 |  | 88 |
| PDI TA Holdings, Inc. | 1st Lien Revolving Loan | 184 | (172) | 12 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| People Corporation | 1st Lien Delay Draw Term Loan | 3966 |  | 3966 |
| People Corporation | 1st Lien Revolving Loan | 1384 | (865) | 519 |
| Perigon Wealth Management, LLC | 1st Lien Delay Draw Term Loan | 249 |  | 249 |
| Perigon Wealth Management, LLC | 1st Lien Revolving Loan | 250 |  | 250 |
| PestCo, LLC | 1st Lien Delay Draw Term Loan | 20 |  | 20 |
| PestCo, LLC | 1st Lien Revolving Loan | 17 |  | 17 |
| pH Beauty Holdings III, Inc. | 1st Lien Revolving Loan | 227 |  | 227 |
| Pike Corporation | 1st Lien Delay Draw Term Loan | 13758 |  | 13758 |
| Pike Corporation | 1st Lien Revolving Loan | 9172 |  | 9172 |
| Pinnacle MEP Intermediate Holdco LLC | 1st Lien Delay Draw Term Loan | 1173 |  | 1173 |
| Pinnacle MEP Intermediate Holdco LLC | 1st Lien Revolving Loan | 519 | (208) | 311 |
| Plaskolite PPC Intermediate II LLC | 1st Lien Revolving Loan | 2712 | (658) | 2054 |
| Pluralsight, LLC | 1st Lien Delay Draw Term Loan | 1322 |  | 1322 |
| Pluralsight, LLC | 1st Lien Revolving Loan | 529 |  | 529 |
| Poseidon Intermediateco, Inc. | 1st Lien Delay Draw Term Loan | 229 |  | 229 |
| Poseidon Intermediateco, Inc. | 1st Lien Revolving Loan | 118 |  | 118 |
| PracticeTek Purchaser, LLC | 1st Lien Revolving Loan | 2 | (1) | 1 |
| Precision Concepts Parent Inc. | 1st Lien Revolving Loan | 184 | (41) | 143 |
| Premier Specialties, Inc. | 1st Lien Revolving Loan | 385 | (385) |  |
| Premiere Buyer, LLC | 1st Lien Delay Draw Term Loan | 321 |  | 321 |
| Premiere Buyer, LLC | 1st Lien Revolving Loan | 1062 |  | 1062 |
| Premise Health Holding Corp. | 1st Lien Delay Draw Term Loan | 226 |  | 226 |
| Premise Health Holding Corp. | 1st Lien Revolving Loan | 551 |  | 551 |
| Priority Waste Holdings LLC | 1st Lien Revolving Loan | 2 | (2) |  |
| Project Alliance Buyer, LLC | 1st Lien Revolving Loan | 40 |  | 40 |
| Project Cardinal Acquisition, LLC | 1st Lien Delay Draw Term Loan | 146 |  | 146 |
| Project Cardinal Acquisition, LLC | 1st Lien Revolving Loan | 176 |  | 176 |
| Project Optimus Bidco Limited | 1st Lien Delay Draw Term Loan | 584 |  | 584 |
| Project Optimus Bidco Limited | 1st Lien Revolving Loan | 91 |  | 91 |
| Proofpoint, Inc. | 1st Lien Revolving Loan | 246 |  | 246 |
| Property Finder Mercury Ltd | 1st Lien Delay Draw Term Loan | 740 |  | 740 |
| Proyectos Deportivos Forus, S.L.U. | 1st Lien Delay Draw Term Loan | 95 |  | 95 |
| PSC Parent, Inc. | 1st Lien Revolving Loan | 993 | (563) | 430 |
| PumpTech, LLC | 1st Lien Delay Draw Term Loan | 387 |  | 387 |
| PumpTech, LLC | 1st Lien Revolving Loan | 454 | (91) | 363 |
| Pye-Barker Fire & Safety, LLC | 1st Lien Delay Draw Term Loan | 992 |  | 992 |
| QBS Parent, Inc. | 1st Lien Revolving Loan | 488 |  | 488 |
| QF Holdings, Inc. | 1st Lien Delay Draw Term Loan | 285 |  | 285 |
| QF Holdings, Inc. | 1st Lien Revolving Loan | 241 |  | 241 |
| QIMA Finance Ltd | 1st Lien Delay Draw Term Loan | 2145 |  | 2145 |
| Quick Quack Car Wash Holdings, LLC | 1st Lien Delay Draw Term Loan | 251 |  | 251 |
| Quick Quack Car Wash Holdings, LLC | 1st Lien Revolving Loan | 366 |  | 366 |
| Quirch Foods Holdings, LLC | 1st Lien Delay Draw Term Loan | 532 |  | 532 |
| Radiate Holdco LLC | 1st Lien Delay Draw Term Loan | 5219 |  | 5219 |
| Radius Aerospace Europe Limited | 1st Lien Revolving Loan | 493 | (493) |  |
| Radius Aerospace, Inc. | 1st Lien Revolving Loan | 861 | (259) | 602 |
| Radwell Parent, LLC | 1st Lien Revolving Loan | 65 | (15) | 50 |
| Raven Acquisition Holdings, LLC | 1st Lien Delay Draw Term Loan | 644 |  | 644 |
| Raven Acquisition Holdings, LLC | 1st Lien Revolving Loan | 1424 |  | 1424 |
| Rawlings Sporting Goods Company, Inc. | 1st Lien Revolving Loan | 3147 | (2193) | 954 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| RB Holdings Interco, LLC | 1st Lien Revolving Loan | 697 | (266) | 431 |
| Reagent Chemical & Research, LLC | 1st Lien Revolving Loan | 564 |  | 564 |
| Reddy Ice LLC | 1st Lien Delay Draw Term Loan | 200 |  | 200 |
| Reddy Ice LLC | 1st Lien Revolving Loan | 8413 | (2493) | 5920 |
| Redwood Services, LP | 1st Lien Delay Draw Term Loan | 490 |  | 490 |
| Redwood Services, LP | 1st Lien Revolving Loan | 318 |  | 318 |
| Registrar Intermediate, LLC | 1st Lien Delay Draw Term Loan | 34 |  | 34 |
| Registrar Intermediate, LLC | 1st Lien Revolving Loan | 782 | (508) | 274 |
| Repairify, Inc. | 1st Lien Revolving Loan | 766 | (540) | 226 |
| Retained Vantage Data Centers Intermediate Holdco, L.P_Retained Vantage Data Centers Assets, LP | Subordinated Delay Draw Term Loan | 51035 |  | 51035 |
| Revalize, Inc. | 1st Lien Revolving Loan | 228 | (80) | 148 |
| Revival Animal Health, LLC | 1st Lien Delay Draw Term Loan | 266 |  | 266 |
| Revival Animal Health, LLC | 1st Lien Revolving Loan | 307 | (307) |  |
| Ristretto Bidco B.V. | 1st Lien Delay Draw Term Loan | 3887 |  | 3887 |
| Ristretto Bidco B.V. | 1st Lien Revolving Loan | 3531 |  | 3531 |
| RMS Holdco II, LLC | 1st Lien Revolving Loan | 883 |  | 883 |
| Rocket Buyer, LLC | 1st Lien Delay Draw Term Loan | 1573 |  | 1573 |
| Rocket Buyer, LLC | 1st Lien Revolving Loan | 867 | (159) | 708 |
| Rodeo AcquisitionCo LLC | 1st Lien Revolving Loan | 487 | (16) | 471 |
| Roman New Bidco Limited | 1st Lien Delay Draw Term Loan | 1204 |  | 1204 |
| Royal Borrower, LLC | 1st Lien Delay Draw Term Loan | 807 |  | 807 |
| Royal Borrower, LLC | 1st Lien Revolving Loan | 805 |  | 805 |
| Rubicone Bidco Limited | 1st Lien Delay Draw Term Loan | 493 |  | 493 |
| Runway Bidco, LLC | 1st Lien Delay Draw Term Loan | 258 |  | 258 |
| Runway Bidco, LLC | 1st Lien Revolving Loan | 116 |  | 116 |
| RWA Wealth Partners, LLC | 1st Lien Delay Draw Term Loan | 1926 |  | 1926 |
| RWA Wealth Partners, LLC | 1st Lien Revolving Loan | 744 | (21) | 723 |
| Saber Parent Holdings Corp. | 1st Lien Delay Draw Term Loan | 464 |  | 464 |
| Saber Parent Holdings Corp. | 1st Lien Revolving Loan | 283 | (83) | 200 |
| Sabseg Group, S.L. | 1st Lien Delay Draw Term Loan | 134 |  | 134 |
| SageSure Holdings, LLC | 1st Lien Delay Draw Term Loan | 422 |  | 422 |
| Saldon Holdings, Inc. | 1st Lien Revolving Loan | 567 |  | 567 |
| Sapphire Software Buyer, Inc. | 1st Lien Revolving Loan | 1491 |  | 1491 |
| Saturn Purchaser Corp. | 1st Lien Delay Draw Term Loan | 52 |  | 52 |
| Saturn Purchaser Corp. | 1st Lien Revolving Loan | 14 |  | 14 |
| Seeker Bidco Ltd | 1st Lien Delay Draw Term Loan | 232 |  | 232 |
| Severin Acquisition, LLC | 1st Lien Delay Draw Term Loan | 6967 |  | 6967 |
| Severin Acquisition, LLC | 1st Lien Revolving Loan | 5768 | (1538) | 4230 |
| SG Acquisition, Inc. | 1st Lien Revolving Loan | 418 |  | 418 |
| SGM Acquisition Sub, LLC | 1st Lien Delay Draw Term Loan | 1501 |  | 1501 |
| SGM Acquisition Sub, LLC | 1st Lien Revolving Loan | 530 | (85) | 445 |
| Shout! Factory, LLC | 1st Lien Revolving Loan | 83 | (31) | 52 |
| SIG Parent Holdings, LLC | 1st Lien Delay Draw Term Loan | 5758 |  | 5758 |
| SIG Parent Holdings, LLC | 1st Lien Revolving Loan | 667 |  | 667 |
| Sigma Electric Manufacturing Corporation | 1st Lien Delay Draw Term Loan | 94 |  | 94 |
| Sigma Electric Manufacturing Corporation | 1st Lien Revolving Loan | 83 | (61) | 22 |
| Signant Finance One Limited | 1st Lien Delay Draw Term Loan | 71 |  | 71 |
| Signant Finance One Limited | 1st Lien Revolving Loan | 54 |  | 54 |
| Silk Holdings III LLC | 1st Lien Revolving Loan | 351 |  | 351 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| Silver Bidco GmbH | 1st Lien Delay Draw Term Loan | 177 |  | 177 |
| Silver Midco 1 GmbH | Subordinated Delay Draw Term Loan | 307 |  | 307 |
| Skyliner BIS S.A R.L. | 1st Lien Delay Draw Term Loan | 202 |  | 202 |
| Slaine Holdings LLC | Subordinated Delay Draw Term Loan | 2422 |  | 2422 |
| Slaine Holdings LLC | Subordinated Revolving Loan | 438 |  | 438 |
| Smarsh Inc. | 1st Lien Delay Draw Term Loan | 797 |  | 797 |
| Smarsh Inc. | 1st Lien Revolving Loan | 680 | (145) | 535 |
| Solar Bidco Limited | 1st Lien Delay Draw Term Loan | 790 |  | 790 |
| Spaceship Purchaser, Inc. | 1st Lien Revolving Loan | 1411 |  | 1411 |
| Spark Purchaser, Inc. | 1st Lien Revolving Loan | 281 |  | 281 |
| Spindrift Beverage Co., Inc. | 1st Lien Delay Draw Term Loan | 195 |  | 195 |
| Spindrift Beverage Co., Inc. | 1st Lien Revolving Loan | 351 | (58) | 293 |
| Sport Maska Inc. | 1st Lien Revolving Loan | 2407 | (411) | 1996 |
| Spruce Bidco II Inc. | 1st Lien Revolving Loan | 11656 | (2590) | 9066 |
| ST Athena Global LLC | 1st Lien Delay Draw Term Loan | 174 |  | 174 |
| ST Athena Global LLC | 1st Lien Revolving Loan | 695 | (75) | 620 |
| StepStone Boulder II, L.P. | 1st Lien Delay Draw Term Loan | 4563 |  | 4563 |
| Sterilex LLC | 1st Lien Delay Draw Term Loan | 54 |  | 54 |
| Sterilex LLC | 1st Lien Revolving Loan | 1 | (1) |  |
| Steward Partners Global Advisory, LLC | 1st Lien Delay Draw Term Loan | 292 |  | 292 |
| Steward Partners Global Advisory, LLC | 1st Lien Revolving Loan | 86 |  | 86 |
| Sugar PPC Buyer LLC | 1st Lien Delay Draw Term Loan | 821 |  | 821 |
| Sun Acquirer Corp. | 1st Lien Delay Draw Term Loan | 4628 |  | 4628 |
| Sun Acquirer Corp. | 1st Lien Revolving Loan | 1638 |  | 1638 |
| Sunbit Receivables Trust IV | 1st Lien Revolving Loan | 5060 | (3110) | 1950 |
| Sundance Group Holdings, Inc. | 1st Lien Revolving Loan | 183 |  | 183 |
| Sunvair Aerospace Group, Inc. | 1st Lien Delay Draw Term Loan | 990 |  | 990 |
| Sunvair Aerospace Group, Inc. | 1st Lien Revolving Loan | 653 | (87) | 566 |
| Superman Holdings, LLC | 1st Lien Revolving Loan | 1259 |  | 1259 |
| Supplying Demand, Inc. | 1st Lien Revolving Loan | 6256 | (469) | 5787 |
| Surescripts, LLC | 1st Lien Revolving Loan | 241 |  | 241 |
| SV Newco 2, Inc. | 1st Lien Delay Draw Term Loan | 248 |  | 248 |
| SV Newco 2, Inc. | 1st Lien Revolving Loan | 588 | (68) | 520 |
| Symplr Software Inc. | 1st Lien Revolving Loan | 1 | (1) |  |
| Systems Planning and Analysis, Inc. | 1st Lien Revolving Loan | 1004 |  | 1004 |
| Talon Buyer Inc. | 1st Lien Delay Draw Term Loan | 504 |  | 504 |
| Talon Buyer Inc. | 1st Lien Revolving Loan | 224 |  | 224 |
| Tandarts Today Holding B.V. | 1st Lien Delay Draw Term Loan | 425 |  | 425 |
| TCI Buyer LLC | 1st Lien Delay Draw Term Loan | 6080 |  | 6080 |
| TCI Buyer LLC | 1st Lien Revolving Loan | 3017 |  | 3017 |
| TCP Hawker Intermediate LLC | 1st Lien Delay Draw Term Loan | 2683 |  | 2683 |
| TCP Hawker Intermediate LLC | 1st Lien Revolving Loan | 5995 | (3384) | 2611 |
| Telle Tire & Auto Service, LLC | 1st Lien Delay Draw Term Loan | 473 |  | 473 |
| Telle Tire & Auto Service, LLC | 1st Lien Revolving Loan | 71 | (48) | 23 |
| The Mather Group, LLC | 1st Lien Delay Draw Term Loan | 327 |  | 327 |
| The Mather Group, LLC | 1st Lien Revolving Loan | 750 |  | 750 |
| The Ultimus Group Midco, LLC | 1st Lien Delay Draw Term Loan | 649 |  | 649 |
| The Ultimus Group Midco, LLC | 1st Lien Revolving Loan | 252 |  | 252 |
| Thermostat Purchaser III, Inc. | 1st Lien Revolving Loan | 100 |  | 100 |
| Three Rivers Buyer, Inc. | 1st Lien Revolving Loan | 79 |  | 79 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| Titan BW Borrower L.P. | 1st Lien Delay Draw Term Loan | 1008 |  | 1008 |
| Titan BW Borrower L.P. | 1st Lien Revolving Loan | 5367 |  | 5367 |
| Trading Technologies International, Inc. | 1st Lien Revolving Loan | 89 |  | 89 |
| Transit Technologies LLC | 1st Lien Delay Draw Term Loan | 921 |  | 921 |
| Transit Technologies LLC | 1st Lien Revolving Loan | 839 |  | 839 |
| Triple JJJ Lube, Corp. | 1st Lien Revolving Loan | 227 | (9) | 218 |
| Truck-Lite Co., LLC and Ecco Holdings Corp. | 1st Lien Delay Draw Term Loan | 2085 |  | 2085 |
| Truck-Lite Co., LLC and Ecco Holdings Corp. | 1st Lien Revolving Loan | 1474 |  | 1474 |
| Truist Insurance Holdings, LLC | 1st Lien Revolving Loan | 654 | (317) | 337 |
| TSS Buyer, LLC | 1st Lien Delay Draw Term Loan | 178 |  | 178 |
| TSWT Acquisition, Inc. | 1st Lien Delay Draw Term Loan | 83 |  | 83 |
| TSWT Acquisition, Inc. | 1st Lien Revolving Loan | 55 | (13) | 42 |
| Two Six Labs, LLC | 1st Lien Revolving Loan | 2561 |  | 2561 |
| U.S. Urology Partners, LLC | 1st Lien Revolving Loan | 186 |  | 186 |
| UFS, LLC | 1st Lien Revolving Loan | 105 | (26) | 79 |
| Unicorn Holdco Intermediate II LLC | 1st Lien Revolving Loan | 289 |  | 289 |
| Unifi Aviation North America, LLC | 1st Lien Delay Draw Term Loan | 369 |  | 369 |
| Unifi Aviation North America, LLC | 1st Lien Revolving Loan | 1 | (1) |  |
| United Digestive MSO Parent, LLC | 1st Lien Delay Draw Term Loan | 39 |  | 39 |
| United Digestive MSO Parent, LLC | 1st Lien Revolving Loan | 168 |  | 168 |
| Unity Purchaser, LLC | 1st Lien Delay Draw Term Loan | 1099 |  | 1099 |
| Unity Purchaser, LLC | 1st Lien Revolving Loan | 424 |  | 424 |
| UP Intermediate II LLC | 1st Lien Revolving Loan | 392 |  | 392 |
| VADELLA BIDCO LIMITED | 1st Lien Delay Draw Term Loan | 276 |  | 276 |
| VADELLA BIDCO LIMITED | 1st Lien Revolving Loan | 106 | (53) | 53 |
| Vamos Bidco, Inc. | 1st Lien Delay Draw Term Loan | 1083 |  | 1083 |
| Vamos Bidco, Inc. | 1st Lien Revolving Loan | 334 |  | 334 |
| Vantage Data Centers Europe S.a r.l. | 1st Lien Delay Draw Term Loan | 2951 |  | 2951 |
| VEIT, LLC | 1st Lien Revolving Loan | 7 | (4) | 3 |
| Verista, Inc. | 1st Lien Revolving Loan | 1000 | (267) | 733 |
| Vertex Service Partners, LLC | 1st Lien Delay Draw Term Loan | 4842 |  | 4842 |
| Vertex Service Partners, LLC | 1st Lien Revolving Loan | 210 | (161) | 49 |
| Vetopia ApS | 1st Lien Delay Draw Term Loan | 460 |  | 460 |
| VetPartners Group Limited | 1st Lien Delay Draw Term Loan | 7485 |  | 7485 |
| Victors Purchaser, LLC | 1st Lien Delay Draw Term Loan | 2424 |  | 2424 |
| Victors Purchaser, LLC | 1st Lien Revolving Loan | 2534 |  | 2534 |
| Viper Bidco, Inc. | 1st Lien Delay Draw Term Loan | 2151 |  | 2151 |
| Viper Bidco, Inc. | 1st Lien Revolving Loan | 618 |  | 618 |
| Vista Higher Learning, LLC | 1st Lien Revolving Loan | 1 |  | 1 |
| VPP Intermediate Holdings, LLC | 1st Lien Delay Draw Term Loan | 985 |  | 985 |
| VPP Intermediate Holdings, LLC | 1st Lien Revolving Loan | 315 |  | 315 |
| VRC Companies, LLC | 1st Lien Revolving Loan | 1342 |  | 1342 |
| W.S. Connelly & Co., LLC | 1st Lien Delay Draw Term Loan | 290 |  | 290 |
| W.S. Connelly & Co., LLC | 1st Lien Revolving Loan | 1778 | (1016) | 762 |
| Watermill Express, LLC | 1st Lien Delay Draw Term Loan | 381 |  | 381 |
| Watermill Express, LLC | 1st Lien Revolving Loan | 561 |  | 561 |
| Watt Holdco Limited | 1st Lien Delay Draw Term Loan | 296 |  | 296 |
| Waverly Advisors, LLC | 1st Lien Delay Draw Term Loan | 12189 |  | 12189 |
| Waverly Advisors, LLC | 1st Lien Revolving Loan | 945 | (189) | 756 |
| Wealth Enhancement Group, LLC | 1st Lien Delay Draw Term Loan | 5151 |  | 5151 |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Company** | **Investment Type** | **Total revolving and delayed draw loan commitments** | **Less: funded commitments** | **Total unfunded commitments** |
| Wealth Enhancement Group, LLC | 1st Lien Revolving Loan | 1378 |  | 1378 |
| WebPT, Inc. | 1st Lien Revolving Loan | 216 |  | 216 |
| Wellington Bidco Inc. | 1st Lien Delay Draw Term Loan | 508 |  | 508 |
| Wellington Bidco Inc. | 1st Lien Revolving Loan | 804 | (110) | 694 |
| Wellington-Altus Financial Inc. | 1st Lien Delay Draw Term Loan | 822 |  | 822 |
| Wellington-Altus Financial Inc. | 1st Lien Revolving Loan | 329 |  | 329 |
| Wellness AcquisitionCo, Inc. | 1st Lien Revolving Loan | 1500 |  | 1500 |
| Wharf Street Ratings Acquisition LLC | 1st Lien Delay Draw Term Loan | 176 |  | 176 |
| Wharf Street Ratings Acquisition LLC | 1st Lien Revolving Loan | 216 |  | 216 |
| Wilbur-Ellis Holdings II LLC | 1st Lien Revolving Loan | 726 | (195) | 531 |
| Witherslack Bidco Limited | 1st Lien Delay Draw Term Loan | 2563 |  | 2563 |
| WorkWave Intermediate II, LLC | 1st Lien Revolving Loan | 5197 | (650) | 4547 |
| World Insurance Associates, LLC | 1st Lien Delay Draw Term Loan | 279 |  | 279 |
| World Insurance Associates, LLC | 1st Lien Revolving Loan | 60 |  | 60 |
| Worldwide Produce Acquisition, LLC | 1st Lien Revolving Loan | 21 | (3) | 18 |
| WPCG Aspire Holdings, LLC | 1st Lien Delay Draw Term Loan | 8238 |  | 8238 |
| WRE Sports Investments LLC | 1st Lien Delay Draw Term Loan | 1352 |  | 1352 |
| WSBidCo Limited | 1st Lien Delay Draw Term Loan | 731 |  | 731 |
| WSHP FC Acquisition LLC | 1st Lien Revolving Loan | 2945 |  | 2945 |
| WU Holdco, Inc. | 1st Lien Delay Draw Term Loan | 357 |  | 357 |
| WU Holdco, Inc. | 1st Lien Revolving Loan | 131 | (28) | 103 |
| YE Brands Holdings, LLC | 1st Lien Revolving Loan | 297 |  | 297 |
| Zenith Acquisitionco, LLC | 1st Lien Delay Draw Term Loan | 651 |  | 651 |
| Zenith Acquisitionco, LLC | 1st Lien Revolving Loan | 387 |  | 387 |
| Zeppelin US Buyer Inc. | 1st Lien Delay Draw Term Loan | 123 |  | 123 |
| Zeppelin US Buyer Inc. | 1st Lien Revolving Loan | 63 |  | 63 |
| Zinc Buyer Corporation | 1st Lien Delay Draw Term Loan | 174 |  | 174 |
| Zinc Buyer Corporation | 1st Lien Revolving Loan | 407 |  | 407 |
| ZocDoc, Inc. | 1st Lien Delay Draw Term Loan | 475 |  | 475 |
|  |  | $993007 | $(108708) | $884299 |

---

____________________________________________________

(h)This loan or a portion of this loan represents an unsettled loan purchase. The interest rate will be determined at the time of settlement and will be based upon a spread plus the applicable reference rate determined at the time of purchase.

(i)Loan or bond was on non-accrual status as of March 31, 2026.

(j)Non-income producing security as of March 31, 2026.

(k)When-Issued or delayed delivery security based on typical market settlement convention for such security.

(l)The Fund sold a participating interest of CAD $18,905 in aggregate principal amount outstanding of the portfolio company's first lien senior secured revolver. As the transaction did not qualify as a "true sale" in accordance with U.S. generally accepted accounting principles ("GAAP"), the Fund recorded a corresponding secured borrowing of $18,905 at fair value, included in "accrued expenses and other payables" in the consolidated statement of assets and liabilities. As of March 31, 2026, the interest rate in effect for the secured borrowing was 6.37%.

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

&nbsp;&nbsp;&nbsp;&nbsp;As of March 31, 2026, the aggregate cost of securities for federal income tax purposes was $7,972,959. Unrealized appreciation and depreciation on investments for federal income tax purposes are as follows:

---

| | |
|:---|:---|
| Gross unrealized appreciation | $238279 |
| Gross unrealized depreciation | (373879) |
| Net unrealized depreciation | $(135600) |

---

**Forward currency contracts as of March 31, 2026 were as follows:**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Notional Amount to be Purchased** | **Notional Amount to be Sold** | **Counterparty** | **Settlement Date** | **Unrealized Appreciation / (Depreciation)** |
| Foreign currency forward contract | $227530 | 196633 | Morgan Stanley Capital Services LLC | April 24, 2026 | $3433 |
| Foreign currency forward contract | $208262 | £157351 | Morgan Stanley Capital Services LLC | April 24, 2026 | 2937 |
| Foreign currency forward contract | $171960 | 148610 | Goldman Sachs International | April 24, 2026 | 2656 |
| Foreign currency forward contract | $136131 | £102853 | Goldman Sachs International | April 24, 2026 | 2039 |
| Foreign currency forward contract | $41899 | 396174 | Goldman Sachs International | April 24, 2026 | 1789 |
| Foreign currency forward contract | $25334 | 35215 | Goldman Sachs International | April 20, 2026 | 370 |
| Foreign currency forward contract | $25301 | 245008 | Morgan Stanley Capital Services LLC | April 24, 2026 | (734) |
| Foreign currency forward contract | $24802 | 34469 | Morgan Stanley Capital Services LLC | April 24, 2026 | 267 |
| Foreign currency forward contract | $22922 | 31857 | Goldman Sachs International | April 24, 2026 | 290 |
| Foreign currency forward contract | 17000 | $19671 | Goldman Sachs International | April 24, 2026 | (10) |
| Foreign currency forward contract | $13127 | 84764 | Morgan Stanley Capital Services LLC | April 24, 2026 | 214 |
| Foreign currency forward contract | $11109 | 19317 | Goldman Sachs International | April 24, 2026 | 223 |
| Foreign currency forward contract | $6303 | 40700 | Goldman Sachs International | April 24, 2026 | 100 |
| Foreign currency forward contract | $6291 | 996308 | Morgan Stanley Capital Services LLC | April 24, 2026 | 53 |
| Foreign currency forward contract | 6100 | $7058 | Goldman Sachs International | April 24, 2026 | 30 |
| Foreign currency forward contract | $5224 | 7573 | Morgan Stanley Capital Services LLC | April 17, 2026 | 7 |
| Foreign currency forward contract | $5110 | 48312 | Morgan Stanley Capital Services LLC | April 24, 2026 | 218 |
| Foreign currency forward contract | $4458 | £3371 | Goldman Sachs International | August 21, 2026 | (286) |
| Foreign currency forward contract | $4266 | 3687 | Goldman Sachs International | April 24, 2026 | (12) |
| Foreign currency forward contract | $3732 | 6490 | Morgan Stanley Capital Services LLC | April 17, 2026 | 13 |
| Foreign currency forward contract | £2000 | $2647 | Goldman Sachs International | April 24, 2026 | (6) |
| Foreign currency forward contract | $1305 | 4844 | Goldman Sachs International | April 24, 2026 | 38 |
| Foreign currency forward contract | $661 | 6400 | Goldman Sachs International | April 24, 2026 | (19) |
| Foreign currency forward contract | $657 | 952 | Morgan Stanley Capital Services LLC | April 24, 2026 | (12) |
| Foreign currency forward contract | $27 | 21 | Goldman Sachs International | April 24, 2026 |  |
| **Total** |  |  |  |  | $13598 |

---

**Interest rate swaps as of March 31, 2026 were as follows:**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Mandatory Redeemable Preferred Shares ("MRPS")** | **Fund Receives** | **Fund Pays** | **Counterparty** | **Maturity Date** | **Notional Amount** | **Fair Value** | **Upfront Payments/Receipts** | **Change in Unrealized Appreciation / (Depreciation)** |
| Interest rate swap | Series H MRPS | 6.250% | SOFR +1.7420% | Goldman Sachs International | 06/07/2027 | $100000 | $1039 | $— | $(552) |
| Interest rate swap | Series I MRPS | 6.350% | SOFR +2.0865% | Goldman Sachs International | 06/07/2029 | 50000 | 965 |  | (369) |
| Interest rate swap | Series J MRPS | 6.350% | SOFR +2.0895% | Goldman Sachs International | 07/03/2029 | 50000 | 983 |  | (368) |
| Interest rate swap | Series K MRPS | 5.940% | SOFR +1.9950% | Goldman Sachs International | 01/15/2030 | 150000 | 1550 |  | (1004) |
| Interest rate swap | Series L MRPS | 6.070% | SOFR +2.1530% | Goldman Sachs International | 04/14/2032 | 150000 | 1357 |  | (902) |
| **Total** |  |  |  |  |  | $500000 | $5894 | $— | $(3195) |

---

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

**Purchased options outstanding as of March 31, 2026 were as follows:**

**Options on Equity Indices — Buy Protection**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Exercise Price** | **Expiration Date** | **Counterparty** | **Notional Amount** | **Premium** | **Fair Value** |
| Call-Chicago Board Options Exchange-VIX US | $30 | 04/15/2026 | Goldman Sachs International | $1 | $74 | $78 |
| **Total Purchased Options on Equity Indices** | **Total Purchased Options on Equity Indices** | **Total Purchased Options on Equity Indices** | **Total Purchased Options on Equity Indices** | **Total Purchased Options on Equity Indices** | $74 | $78 |

---

**Written options outstanding as of March 31, 2026 were as follows:**

**Options on Equity Indices — Sell Protection**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Exercise Price** | **Expiration Date** | **Counterparty** | **Notional Amount** | **Premium** | **Fair Value** |
| Call-Chicago Board Options Exchange-VIX US | $40 | 04/15/2026 | Goldman Sachs International | $(1452) | $(46) | $(36) |
| **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | $(46) | $(36) |

---

**Swaps outstanding as of March 31, 2026 were as follows:**

**Swaps: Centrally Cleared or Exchange Traded**

**Credit Default Swaps on Credit Indices - Buy Protection (1)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Payment Frequency** | **Fixed Deal Pay Rate** | **Expiration Date** | **Exchange** | **Notional Amount (2)** | **Value (3)** | **Upfront Premiums Paid (Received)** | **Unrealized Appreciation (Depreciation)** |
| CDX HY S41 5Y | Q | 5.00% | 12/20/2028 | ICE | $10395 | $(549) | $(618) | $69 |
| **Total Swaps - Buy Protection: Centrally Cleared or Exchange Traded** | **Total Swaps - Buy Protection: Centrally Cleared or Exchange Traded** | **Total Swaps - Buy Protection: Centrally Cleared or Exchange Traded** | **Total Swaps - Buy Protection: Centrally Cleared or Exchange Traded** | **Total Swaps - Buy Protection: Centrally Cleared or Exchange Traded** |  | $(549) | $(618) | $69 |

---

**Swaps: Over the Counter**

**Credit Default Swaps on Credit Indices - Buy Protection (1)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Payment Frequency** | **Fixed Deal Pay Rate** | **Expiration Date** | **Counterparty** | **Notional Amount (2)** | **Value (3)** | **Upfront Premiums Paid (Received)** | **Unrealized Appreciation (Depreciation)** |
| CDX.NA.HY S43 5Y Tranche 15-25 | Q | 5.00% | 12/20/2029 | Goldman Sachs International | $8997 | $(625) | $(732) | $107 |
| **Total Swaps - Buy Protection: Over the Counter** | **Total Swaps - Buy Protection: Over the Counter** | **Total Swaps - Buy Protection: Over the Counter** | **Total Swaps - Buy Protection: Over the Counter** | **Total Swaps - Buy Protection: Over the Counter** |  | $(625) | $(732) | $107 |

---

**Credit Default Swaps on Credit Indices - Sell Protection (4)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Payment Frequency** | **Fixed Deal Pay Rate** | **Expiration Date** | **Counterparty** | **Notional Amount (2)** | **Value (3)** | **Upfront Premiums Paid (Received)** | **Unrealized Appreciation (Depreciation)** |
| SRT CDS Tranche 95.12-99.23 | M | 5.25% | 09/30/2031 | Goldman Sachs International | $(3589) | $1 | $— | $1 |
| **Total Swaps - Sell Protection: Over the Counter** | **Total Swaps - Sell Protection: Over the Counter** | **Total Swaps - Sell Protection: Over the Counter** | **Total Swaps - Sell Protection: Over the Counter** | **Total Swaps - Sell Protection: Over the Counter** |  | $1 | $— | $1 |

---

____________________________________________________

(1)If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying investments comprising the referenced index or (ii) receive a net

------

**CION Ares Diversified Credit Fund**

**Consolidated Schedule of Investments (continued)** 

**March 31, 2026** 

**(in thousands, except shares, percentages and as otherwise noted)**

settlement amount in the form of cash or investments equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying investments comprising the referenced index.

(2)The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap.

(3)The quoted market prices and resulting values for credit default swaps on credit indices serve as an indicator of the current status of the payment/performance risk and represent the expected amount paid or received for the credit derivative had the notional amount of the swap been closed/sold as of year-end. Increasing values (buy protection) or decreasing values (sell protection), when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

(4)If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

**Abbreviations:**

144A Certain conditions for public sale may exist. Unless otherwise noted, these securities are deemed to be liquid.

CLO Collateralized Loan Obligation

**Currencies:**

€ Euro Currency

£ British Pounds

$ U.S. Dollars

AUD Australian Dollars

CAD Canadian Dollars

DKK Danish Krone

GBP British Pounds

NOK Norwegian Krone

NZD New Zealand Dollars

PLN Polish Zloty

SEK Swedish Krone

USD U.S. Dollars

------

**CION Ares Diversified Credit Fund**

**Notes to Consolidated Schedule of Investments** 

**March 31, 2026 (Unaudited)**

**(in thousands, except percentages and as otherwise noted)**

**1.&nbsp;&nbsp;&nbsp;&nbsp; ORGANIZATION**

CION Ares Diversified Credit Fund (the "Fund") is a closed-end, diversified management investment company that is registered under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the "Investment Company Act"). The Fund operates as an interval fund and continuously offers its shares. The Fund was organized as a Delaware statutory trust on June 21, 2016.

The Fund's investment objective is to provide superior risk-adjusted returns across various market cycles by investing in a diversified portfolio of liquid and illiquid asset classes. The Fund seeks to capitalize on market inefficiencies and relative value opportunities throughout the entire global credit spectrum.

The Fund is externally managed by CION Ares Management, LLC (the "Adviser") pursuant to an investment advisory and management agreement. The Adviser was registered as an investment adviser with the U.S. Securities and Exchange Commission under the Investment Advisers Act of 1940, as amended, on January 4, 2017. The Adviser is a joint venture between affiliates of Ares Management Corporation ("Ares Management"), a publicly traded, leading global alternative investment manager, and CION Investment Group, LLC and is controlled by Ares Management. The Adviser oversees the management of the Fund's activities and is responsible for making investment decisions for the Fund's portfolio. Ares Operations LLC, a subsidiary of Ares Management, provides certain administrative and other services necessary for the Fund to operate.

**2.&nbsp;&nbsp;&nbsp;&nbsp; SIGNIFICANT ACCOUNTING POLICIES** 

***Basis of Presentation***

The accompanying consolidated schedule of investments has been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles ("GAAP"), and includes the accounts of the Fund and its consolidated subsidiaries. The Fund is an investment company following accounting and reporting guidance in Accounting Standards Codification ("ASC") Topic 946, Financial Services—Investment Companies.

***Cash and Cash Equivalents***

Cash and cash equivalents include funds from time to time deposited with financial institutions and short-term, liquid investments in a money market account. Cash and cash equivalents are carried at cost, which approximates fair value.

***Concentration of Credit Risk***

The Fund places its cash and cash equivalents with financial institutions and, at times, cash held in depository or money market accounts may exceed the Federal Deposit Insurance Corporation insured limit.

***Investment Transactions***

Investment transactions are recorded on the trade date. Realized gains or losses are measured by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the investment using the specific identification method without regard to unrealized gains or losses previously recognized, and include investments charged off during the period, net of recoveries. Unrealized gains or losses primarily reflect the change in investment values, including the reversal of previously recorded unrealized gains or losses when gains or losses are realized.

Pursuant to Rule 2a-5 under the Investment Company Act, the Fund's board of trustees (the "Board") has designated the Adviser as the Fund's "valuation designee" (the "Valuation Designee") to perform fair value determinations for investments held by the Fund without readily available market quotations subject to the oversight of the Board. All investments are recorded at their fair value.

Investments for which market quotations are readily available are typically valued at such market quotations. In order to validate market quotations, the Valuation Designee looks at a number of factors to determine if the quotations are

------

**CION Ares Diversified Credit Fund**

**Notes to Consolidated Schedule of Investments (continued)**

**March 31, 2026 (Unaudited)**

**(in thousands, except percentages and as otherwise noted)**

representative of fair value, including the source and nature of the quotations. Debt and equity securities that are not publicly traded or whose market prices are not readily available are valued at fair value as determined in good faith by the Valuation Designee, subject to the oversight of the Board, in accordance with the Valuation Designee's valuation policy. The Valuation Designee may utilize independent third-party pricing and valuation services to assist in the valuation of each portfolio investment without a readily available market quotation in accordance with the valuation policy and a consistently applied valuation process.

Investments in the Fund's portfolio that do not have a readily available market are valued at fair value as determined in good faith by the Valuation Designee as described herein. As part of the valuation process for investments that do not have readily available market prices, the Valuation Designee may take into account the following types of factors, if relevant, in determining the fair value of the Fund's investments: the enterprise value of a portfolio company (the entire value of the portfolio company to a market participant, including the sum of the values of debt and equity securities used to capitalize the enterprise at a point in time), the nature and realizable value of any collateral, the portfolio company's ability to make payments and its earnings and discounted cash flow, the markets in which the portfolio company does business, a comparison of the portfolio company's securities to any similar publicly traded securities, changes in the interest rate environment and the credit markets, which may affect the price at which similar investments would trade in their principal markets and other relevant factors. When an external event such as a purchase transaction, public offering or subsequent sale occurs, the Valuation Designee considers the pricing indicated by the external event to corroborate its valuation.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund's investments may fluctuate from period to period. Additionally, the fair value of the Fund's investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that the Fund may ultimately realize. Further, such investments are generally subject to legal and other restrictions on resale or otherwise are less liquid than publicly traded securities. If the Fund was required to liquidate a portfolio investment in a forced or liquidation sale, the Fund could realize significantly less than the value at which the Fund has recorded it. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected in the valuations currently assigned. See Note 3 for more information on the Fund's valuation process.

***Interest Income Recognition***

Interest income is recorded on an accrual basis and includes the accretion of discounts, amortization of premiums and payment-in-kind ("PIK") interest. Discounts from and premiums to par value on investments purchased are accreted/amortized into interest income over the life of the respective security using the effective yield method. To the extent loans contain PIK provisions, PIK interest, computed at the contractual rate specified in each applicable agreement, is accrued and recorded as interest income and added to the principal balance of the loan. PIK interest income added to the principal balance is generally collected upon repayment of the outstanding principal. To maintain the Fund's tax treatment as a regulated investment company under the Internal Revenue Code of 1986, as amended, this non-cash source of income must be paid out to shareholders in the form of dividends for the year the income was earned, even though the Fund has not yet collected the cash. The amortized cost of investments represents the original cost adjusted for any accretion of discounts, amortization of premiums and PIK interest.

Loans are generally placed on non-accrual status when principal or interest payments are past due 30 days or more or when there is reasonable doubt that principal or interest will be collected in full. Accrued and unpaid interest is generally reversed when a loan is placed on non-accrual status. Interest payments received on non-accrual loans may be recognized as income or applied to principal depending upon the Fund's judgment regarding collectability. Non-accrual loans are restored to accrual status when past due principal and interest are paid or there is no longer any reasonable doubt that such principal or interest will be collected in full and, in the Fund's judgment, are likely to remain current. The Fund may make exceptions to this policy if the loan has sufficient collateral value (i.e., typically measured as enterprise value of the portfolio company) or is in the process of collection.

------

**CION Ares Diversified Credit Fund**

**Notes to Consolidated Schedule of Investments (continued)**

**March 31, 2026 (Unaudited)**

**(in thousands, except percentages and as otherwise noted)**

Equity investments in a collateralized loan obligation ("CLO") recognize interest income by utilizing an effective interest methodology based upon an effective yield to maturity utilizing projected cash flows, in accordance with ASC 325-40, *Beneficial Interest in Securitized Financial Assets.* 

***Dividend Income Recognition*** 

Dividend income on preferred equity is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity securities is recorded on the record date for private portfolio companies or on the ex-dividend date for publicly traded portfolio companies. To the extent preferred equity contains PIK provisions, PIK dividends, computed at the contractual rate specified in each applicable agreement, are accrued and recorded as dividend income and added to the principal balance of the preferred equity. PIK dividends added to the principal balance are generally collected upon redemption of the equity.

***Foreign Currency Transactions and Foreign Currency Forward Contracts***

The Fund's books and records are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis: (i) fair value of investment securities, other assets and liabilities at the exchange rates prevailing at the end of the period; and (ii) purchases and sales of investment securities, income and expense at the exchange rates prevailing on the respective dates of such transactions, income or expenses.

The Fund does not isolate that portion of the results of operations resulting from the changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included in "net realized and unrealized gains or losses on investments" in the consolidated statement of operations.

Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates of securities transactions, and the difference between the amounts of income and expense items recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from the changes in fair values of assets and liabilities, other than investments in securities at period end, resulting from changes in exchange rates.

Investments in foreign companies and securities of foreign governments may involve special risks and considerations not typically associated with investing in U.S. companies and securities of the U.S. government. These risks include, among other things, revaluation of currencies, less reliable information about issuers, different transaction clearance and settlement practices, and potential future adverse political and economic developments. Moreover, investments in foreign companies and securities of foreign governments and their markets may be less liquid and their prices more volatile than those of comparable U.S. companies and the U.S. government.

The Fund may enter into foreign currency forward contracts for operational purposes and to protect against adverse exchange rate fluctuations. A foreign currency forward contract is an agreement between the Fund and a counterparty to buy or sell a foreign currency at a specific exchange rate on a future date. The Fund may also enter into these contracts for purposes of increasing exposure to a foreign currency or to shift exposure to foreign currency fluctuations from one currency to another. The net U.S. dollar value of foreign currency underlying all contractual commitments held by the Fund and the resulting unrealized appreciation or depreciation are determined using foreign currency exchange rates from an independent pricing service. The Fund is subject to the credit risk that the other party will not complete the obligations of the contract. The fair values of the foreign currency forward contracts are obtained from an independent pricing source.

***Derivative Instruments***

The Fund values its derivatives at fair value with the unrealized gains or losses recorded in "net realized and unrealized gains or losses on derivative contracts" in the Fund's consolidated statement of operations.

------

**CION Ares Diversified Credit Fund**

**Notes to Consolidated Schedule of Investments (continued)**

**March 31, 2026 (Unaudited)**

**(in thousands, except percentages and as otherwise noted)**

***Commitments and Contingencies***

In the normal course of business, the Fund's investment activities involve executions, settlement and financing of various transactions resulting in receivables from, and payables to, brokers, dealers and the Fund's custodian. These activities may expose the Fund to risk in the event that such parties are unable to fulfill contractual obligations. Management does not anticipate any material losses from counterparties with whom it conducts business. Consistent with standard business practice, the Fund enters into contracts that contain a variety of indemnifications, and is engaged from time to time in various legal actions. The maximum exposure of the Fund under these arrangements and activities is unknown. However, the Fund expects

the risk of material loss to be remote.

Commitments to extend credit include loan proceeds the Fund is obligated to advance, such as delayed draws or revolving credit arrangements. Commitments generally have fixed expiration dates or other termination clauses. Unrealized gains or losses associated with unfunded commitments are recorded in the consolidated financial statements and reflected as an adjustment to the fair value of the related security in the consolidated schedule of investments. The par amount of the unfunded commitments is not recognized by the Fund until it becomes funded.

***Use of Estimates in the Preparation of the Consolidated Financial Statements***

The preparation of the consolidated financial statements in conformity with GAAP requires the Adviser to make estimates and assumptions that affect the reported amounts of actual and contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income or loss and expenses during the reporting period. Actual results could differ from those estimates and such differences may be actual and contingent. Significant estimates include the valuation of investments.

**3.&nbsp;&nbsp;&nbsp;&nbsp; FAIR VALUE OF FINANCIAL INSTRUMENTS** 

&nbsp;&nbsp;&nbsp;&nbsp;The Fund follows ASC 825-10, R*ecognition and Measurement of Financial Assets and Financial Liabilities* ("ASC 825-10"), which provides companies the option to report selected financial assets and liabilities at fair value. ASC 825-10 also establishes presentation and disclosure requirements designed to facilitate comparisons between companies that choose different measurement attributes for similar types of assets and liabilities and to more easily understand the effect of the company's choice to use fair value on its earnings. ASC 825-10 also requires entities to display the fair value of the selected assets and liabilities on the face of the balance sheet. The Fund has not elected the ASC 825-10 option to report selected financial assets and liabilities at fair value. With the exception of the line items entitled "other assets", "mandatory redeemable preferred shares" and "debt," which are reported at amortized cost, the carrying value of all other assets and liabilities approximate fair value.

The Fund also follows ASC 820-10, *Fair Value Measurements and Disclosures* ("ASC 820-10"), which among other matters, requires enhanced disclosures about investments that are measured and reported at fair value. ASC 820-10 defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosure of fair value measurements. ASC 820-10 determines fair value to be the price that would be received for an investment in a current sale, which assumes an orderly transaction between market participants on the measurement date. ASC 820-10 requires the Fund to assume that the portfolio investment is sold in its principal market to market participants or, in the absence of a principal market, the most advantageous market, which may be a hypothetical market. Market participants are defined as buyers and sellers in the principal or most advantageous market that are independent, knowledgeable, and willing and able to transact. In accordance with ASC 820-10, the Fund has considered its principal market as the market in which the Fund exits its portfolio investments with the greatest volume and level of activity. ASC 820-10 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. In accordance with ASC 820-10, these inputs are summarized in the three broad levels listed below:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2—Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

------

**CION Ares Diversified Credit Fund**

**Notes to Consolidated Schedule of Investments (continued)**

**March 31, 2026 (Unaudited)**

**(in thousands, except percentages and as otherwise noted)**

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

&nbsp;&nbsp;&nbsp;&nbsp;In addition to using the above inputs in investment valuations, the Valuation Designee continues to employ its net asset valuation policy and procedures that have been reviewed by the Board in connection with their designation of the Adviser as the Fund's valuation designee and are consistent with the provisions of Rule 2a-5 under the Investment Company Act and ASC 820-10 (see Note 2 for more information). Consistent with its valuation policy and procedures, the Valuation Designee evaluates the source of inputs, including any markets in which the Fund's investments are trading (or any markets in which securities with similar attributes are trading), in determining fair value. Because there is not a readily available market value for most of the investments in the Fund's portfolio, the fair value of the investments must typically be determined using unobservable inputs.

The assets and liabilities classified as Level 1 or Level 2 are typically valued based on quoted market prices, forward foreign exchange rates, dealer quotations or alternative pricing sources supported by observable inputs. The Valuation Designee obtains prices from independent pricing services which generally utilize broker quotes and may use various other pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data. The Valuation Designee is responsible for all inputs and assumptions related to the pricing of securities. The Valuation Designee has internal controls in place that support its reliance on information received from third-party pricing sources. As part of its internal controls, the Valuation Designee obtains, reviews, and tests information to corroborate prices received from third-party pricing sources. For any security, if market or dealer quotations are not readily available, or if the Valuation Designee determines that a quotation of a security does not represent a fair value, then the security is valued at a fair value as determined in good faith by the Valuation Designee, subject to the oversight of the Board and will be classified as Level 3. In such instances, the Valuation Designee will use valuation techniques consistent with the market or income approach to measure fair value and will give consideration to all factors which might reasonably affect the fair value.

The Fund's portfolio investments classified as Level 3 (other than as described below in the following paragraph) are typically valued using two different valuation techniques. The first valuation technique is an analysis of the enterprise value ("EV") of the portfolio company. EV means the entire value of the portfolio company to a market participant, including the sum of the values of debt and equity securities used to capitalize the enterprise at a point in time. The primary method for determining EV uses a multiple analysis whereby appropriate multiples are applied to the portfolio company's EBITDA (generally defined as net income before net interest expense, income tax expense, depreciation and amortization). EBITDA multiples are typically determined based upon review of market comparable transactions and publicly traded comparable companies, if any. The Valuation Designee may also employ other valuation multiples to determine EV, such as revenues. The Valuation Designee may also use industry specific valuation analyses to determine EV, such as capitalization rate analysis used in the real estate industry. The second method for determining EV uses a discounted cash flow analysis whereby future expected cash flows of the portfolio company are discounted to determine a present value using estimated discount rates (typically a weighted average cost of capital based on costs of debt and equity consistent with current market conditions). The EV analysis is performed to determine the value of equity investments, the value of debt investments in portfolio companies where the Fund has control or could gain control through an option or warrant security, and to determine if there is credit impairment for debt investments. If debt investments are credit impaired, an EV analysis may be used to value such debt investments; however, in addition to the methods outlined above, other methods such as a liquidation or wind down analysis may be utilized to estimate EV. The second valuation technique is a yield analysis, which is typically performed for non-credit impaired debt investments in portfolio companies where the Fund does not own a controlling equity position. To determine fair value using a yield analysis, a current price is imputed for the investment based upon an assessment of the expected market yield for a similarly structured investment with a similar level of risk. In the yield analysis, the Valuation Designee considers the current contractual interest rate, the maturity and other terms of the investment relative to risk of the company and the specific investment. A key determinant of risk, among other things, is the leverage through the investment relative to the EV of the portfolio company. As debt investments held by the Fund are substantially illiquid with no active transaction market, the Valuation Designee depends on primary market data, including newly funded transactions, as well as secondary market data with respect to high yield debt instruments and syndicated loans, as inputs in determining the appropriate market yield, as applicable.

------

**CION Ares Diversified Credit Fund**

**Notes to Consolidated Schedule of Investments (continued)**

**March 31, 2026 (Unaudited)**

**(in thousands, except percentages and as otherwise noted)**

The fair value of CLOs is estimated based on various valuation models from third-party pricing services. The provided prices are checked using internally developed models. The valuation models generally utilize discounted cash flows and take into consideration prepayment and loss assumptions, based on historical experience and projected performance, economic factors, the characteristics and condition of the underlying collateral, comparable yields for similar securities and recent trading activity. These securities are classified as Level 3.

Private asset-backed securities classified as Level 3 are typically valued using two different valuation techniques. The first valuation technique is an analysis of the forecasted cash flows of the security. The forecasted cash flows take into consideration prepayment and loss assumptions, based on historical experience and projected performance, economic factors, and the characteristics and condition of the underlying collateral. For equity securities, the projected cash flows are present valued using a market discount rate to determine the fair value. For debt securities, the analysis is used to determine if the borrower has the ability to repay its obligations. If it is determined that the borrower does have the ability to repay its obligations, the second valuation technique that is utilized is a yield analysis. To determine fair value using a yield analysis, a current price is imputed for the investment based upon an assessment of the expected market yield for a similarly structured investment with a similar level of risk. In the yield analysis, the Valuation Designee considers the current contractual interest rate, the maturity and other terms of the investment relative to risk of the borrower and the specific investment. As the debt investments are substantially illiquid with no active transaction market, the Valuation Designee depends on primary market data, including newly funded transactions, as inputs in determining the appropriate market yield, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;The following table is a summary of the inputs used as of March 31, 2026, in valuing the Fund's investments carried at fair value, derivative assets and derivative liabilities:&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1 - Quoted Prices** | **Level 2 - Other Significant<br>Observable Inputs** | **Level 3 - Significant Unobservable Inputs** | **Total** |
| Senior loans | $— | $1048307 | $4149097 | $5197404 |
| Subordinated loans |  |  | 251114 | 251114 |
| Corporate bonds |  | 88228 | 127993 | 216221 |
| Collateralized loan obligations |  |  | 638935 | 638935 |
| Mortgage-backed securities |  |  | 57280 | 57280 |
| Private asset-backed investments |  |  | 221755 | 221755 |
| Preferred equity |  |  | 347034 | 347034 |
| Common equity | 2050 | 40248 | 207263 | 249561 |
| Warrants |  |  | 34849 | 34849 |
| **Total investments** | $2050 | $1176783 | $6035320 | $7214153 |
| **Derivative assets:** |  |  |  |  |
| Foreign currency forward contracts | $— | $14677 | $— | $14677 |
| Purchased equity options | $78 | $— | $— | $78 |
| Credit default swaps | $— | $— | $1 | $1 |
| Interest rate swaps | $— | $5894 | $— | $5894 |
| **Derivative liabilities:** |  |  |  |  |
| Foreign currency forward contracts | $— | $(1079) | $— | $(1079) |
| Written equity options | $(36) | $— | $— | $(36) |
| Credit default swaps | $— | $(625) | $— | $(625) |

---

------

**CION Ares Diversified Credit Fund**

**Notes to Consolidated Schedule of Investments (continued)**

**March 31, 2026 (Unaudited)**

**(in thousands, except percentages and as otherwise noted)**

&nbsp;&nbsp;&nbsp;&nbsp;The following table summarizes the significant unobservable inputs the Valuation Designee used to value the majority of the Fund's investments categorized within Level 3 as of March 31, 2026. The table is not intended to be all-inclusive, but instead to capture the significant unobservable inputs relevant to the determination of fair values.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Category** | **Fair Value** | **Primary Valuation Techniques** | **Inputs** | **Estimated Range** | **Weighted Average(1)** |
| Senior loans | $4031287 | Yield analysis | Market yield | 5.1% - 31.0% | 9.6% |
| Senior loans | 45907 | EV coverage analysis | Valuation multiple | 3.7x - 20.7x | 10.3x |
| Senior loans | 37165 | Discounted cash flow analysis | Discount rate | 10.0% - 20.0% | 13.7% |
| Senior loans | 34738 | Broker quotes | N/A | N/A | N/A |
| Subordinated loans | 251114 | Yield analysis | Market yield | 7.1% - 25.8% | 11.7% |
| Corporate bonds | 89390 | Broker quotes | N/A | N/A | N/A |
| Corporate bonds | 38603 | Yield analysis | Market yield | 7.9% - 20.7% | 14.2% |
| Collateralized loan obligations | 638935 | Broker quotes | N/A | N/A | N/A |
| Mortgage-backed securities | 57280 | Broker quotes | N/A | N/A | N/A |
| Private asset-backed investments | 221755 | Income (other) | Market yield<br>Discount rate<br>CNL curve<br>Spread<br>Constant default rate | 0.1% - 13.8%<br>0.4%<br>23.4%<br>4.3% - 4.8%<br>0.0% - 98.8% | 9.9%<br>0.4%<br>23.4%<br>4.8%<br>15.0% |
| Preferred equity | 333453 | Yield analysis | Market yield | 4.7% - 32.7% | 15.2% |
| Preferred equity | 13581 | EV market multiple analysis | Valuation multiple | 1.0x - 20.0x | 10.5x |
| Common equity | 167613 | EV market multiple analysis | Valuation multiple | 3.7x - 30.0x | 13.8x |
| Common equity | 32681 | Discounted cash flow analysis | Discount rate | 11.0% - 20.0% | 18.9% |
| Common equity | 6969 | Yield analysis | Market yield | 9.8% - 15.9% | 10.7% |
| Warrants | 34849 | EV market multiple analysis | Valuation multiple | 2.9x - 12.0x | 8.1x |
| **Total Level 3 investments** | $6035320 |  |  |  |  |

---

________________________________________

(1)Unobservable inputs were weighted by the relative fair value of the investments.

Changes in market yields, discount rates or EBITDA multiples, each in isolation, may change the fair value of

certain of the Fund's investments. Generally, an increase in market yields or discount rates or decrease in EBITDA

multiples may result in a decrease in the fair value of certain of the Fund's investments.

&nbsp;&nbsp;&nbsp;&nbsp;Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund's investments may fluctuate from period to period. Additionally, the fair value of the Fund's investments may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that the Fund may ultimately realize. Further, such investments are generally subject to legal and other restrictions on resale or otherwise are less liquid than publicly traded securities. If the Fund was required to liquidate a portfolio investment in a forced or liquidation sale, it could realize significantly less than the value at which the Fund has recorded it.

&nbsp;&nbsp;&nbsp;&nbsp;In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected in the valuations currently assigned.

------

**CION Ares Diversified Credit Fund**

**Notes to Consolidated Schedule of Investments (continued)**

**March 31, 2026 (Unaudited)**

**(in thousands, except percentages and as otherwise noted)**

The following table is a reconciliation of the Fund's investments in which significant unobservable inputs (Level 3) were used in determining fair value for the three months ended March 31, 2026:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Senior Loans** | &nbsp;&nbsp;**Subordinated**<br>**Loans** | **Corporate Bonds** | **Collateralized Loan Obligations** | **Mortgage-Backed Securities** | **Private Asset- Backed Investments** | &nbsp;&nbsp;**Preferred Equity** | &nbsp;&nbsp;**Common Equity** | **Warrants** | **Total** |
| **Balance as of December 31, 2025** | $4118131 | $211402 | $117775 | $752414 | $36785 | $209736 | $355974 | $191685 | $20386 | $6014288 |
| Purchases | 335639 | 40874 | 4262 | 38393 | 25207 | 31287 | 5873 | 878 |  | 482413 |
| Sales and principal redemptions | (287885) | (37) | (125) | (54066) | (4260) | (13837) | (8894) | (9776) |  | (378880) |
| Net realized and unrealized gains (losses) | (44519) | (1299) | (1640) | (97808) | (607) | (5503) | (5919) | 24476 | 14463 | (118356) |
| Accrued discounts | 3062 | 174 | 30 | 2 | 155 | 72 |  |  |  | 3495 |
| Transfers into Level 3 | 28457 |  | 7691 |  |  |  |  |  |  | 36148 |
| Transfers out of Level 3 | (3788) |  |  |  |  |  |  |  |  | (3788) |
| **Balance as of March 31, 2026** | $4149097 | $251114 | $127993 | $638935 | $57280 | $221755 | $347034 | $207263 | $34849 | $6035320 |
| Net change in unrealized gains (losses) from investments held at March 31, 2026 | $(45572) | $(1292) | $(2830) | $(97523) | $(607) | $(741) | $(6451) | $25575 | $14270 | $(115171) |

---

Investments that were transferred into and out of Level 3 during the three months ended March 31, 2026 were generally as a result of changes in the observability of significant inputs or available market data for certain portfolio companies.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** CION Ares Diversified Credit Fund

- **b. Investment Company Act file number:** 811-23165

- **c. CIK number of Registrant:** 0001678124

- **d. LEI of Registrant:** 549300F7A47KKXH50363

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

  - **Street Address 1:** 3 PARK AVENUE 36TH FLOOR

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10016

  - **Telephone number:** 646-845-2577

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

- **a. Name of Series:** CION Ares Diversified Credit Fund

- **c. LEI of Series:** 549300F7A47KKXH50363

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $7995874694.29

**Total Liabilities:** $3071503325.22

**Net Assets:** $4924371369.07

**Delayed Delivery Securities:** $37660762.77

**Cash Not Reported:** $144541482.09

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.000000000 | **1-Year:** -51.214000000 | **5-Year:** -44516.767000000 | **10-Year:** -12742.419000000 | **30-Year:** 0.000000000

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

- **3-Month:** 987.545000000 | **1-Year:** 244.338000000 | **5-Year:** -855167.246000000 | **10-Year:** -1132158.669000000 | **30-Year:** -652577.700000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.39%               | -1.32%               | 0.51%                |
| Class ID N/A | -0.43%               | -1.35%               | 0.39%                |
| Class ID N/A | -0.36%               | -1.32%               | 0.50%                |
| Class ID N/A | -0.40%               | -1.37%               | 0.45%                |
| Class ID N/A | -0.43%               | -1.34%               | 0.43%                |
| Class ID N/A | -0.43%               | -1.35%               | 0.43%                |
| Class ID N/A | -0.40%               | -1.35%               | 0.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2475870.98              | $-43987482.88                              |
| Month 2  | $1822682.36              | $-108378983.82                             |
| Month 3  | $3668469.59              | $-38812193.38                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| eCapital Finance Corp.                                                                          | eCapital Finance Corp./Term Loan 1/20                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    2022744 | PA      | $2002516.67    | 0.04%             | 2029-09-29      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| North Star Acquisitionco, LLC                                                                   | North Star Acquisitionco, LLC/Multicurrency Delayed Draw Term Loan 4/24                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     495637 | PA      | $490680.69     | 0.01%             | 2029-05-03      | Floating      | 8.22%                 | No            |                  3 | On Loan: No      |
| Leviathan Intermediate Holdco, LLC                                                              | Leviathan Intermediate Holdco, LLC/Revolver 12/22                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      12932 | PA      | $12932.00      | 0.00%             | 2027-12-27      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| AUTHB 2021-1                                                                                    | AUTHB 2021-1 A2                                                                                                               | CUSIP: 00091JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      23618 | PA      | $22481.33      | 0.00%             | 2051-07-30      | Fixed         | 3.73%                 | Yes           |                  3 | On Loan: No      |
| ABPCI 2022-11                                                                                   | ABPCI 2022-11A ER                                                                                                             | CUSIP: 00091UBA0<br>LEI: 25490071811YW79W8G10 | Long             | ABS-CBDO         | CORP              | KY        |    7000000 | PA      | $6725012.00    | 0.14%             | 2038-01-27      | Floating      | 10.67%                | Yes           |                  3 | On Loan: No      |
| eCapital Finance Corp.                                                                          | eCapital Finance Corp./Delayed Draw Term Loan 1/20                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    2379699 | PA      | $2355901.97    | 0.05%             | 2029-09-29      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| ANCHF 2016-3                                                                                    | ANCHF 2016-3A SUBR                                                                                                            | CUSIP: 001011AJ4<br>LEI: 5493003NNQWXMTSTMF21 | Long             | ABS-O            | CORP              | KY        |    3360000 | PA      | $1988962.08    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABPCI 2025-20A                                                                                  | ABPCI 2025-20A E                                                                                                              | CUSIP: 00112KAL4<br>LEI: 2549003WLB9U31X83N26 | Long             | ABS-CBDO         | CORP              | US        |    1450000 | PA      | $1415314.55    | 0.03%             | 2037-04-30      | Floating      | 9.92%                 | Yes           |                  3 | On Loan: No      |
| ABPCI 2023-12                                                                                   | ABPCI 2023-12A ER                                                                                                             | CUSIP: 00112TAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    2850000 | PA      | $2809706.70    | 0.06%             | 2037-07-29      | Floating      | 11.92%                | Yes           |                  3 | On Loan: No      |
| ABPF 2025-2                                                                                     | ABPF 2025-2A D                                                                                                                | CUSIP: 00112YAA8<br>LEI: 2549006VP8IRTB1XGJ32 | Long             | ABS-CBDO         | CORP              | KY        |    1400000 | PA      | $1382970.40    | 0.03%             | 2037-10-20      | Floating      | 10.92%                | Yes           |                  3 | On Loan: No      |
| AIMCO 2020-11                                                                                   | AIMCO 2020-11A SUB                                                                                                            | CUSIP: 00140PAC9<br>LEI: 549300VLRW0CEQ83RF89 | Long             | ABS-O            | CORP              | KY        |    7971282 | PA      | $5251074.05    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Endurance PT Technology Buyer Corporation                                                       | Endurance PT Technology Buyer Corporation/ Initial Term Loan 10/25                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     555414 | PA      | $552636.93     | 0.01%             | 2031-10-28      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| EMB Purchaser, Inc.                                                                             | EMB Purchaser, Inc./Amendment No. 1 Delayed Draw Term Loan 12/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1604962 | PA      | $1588912.38    | 0.03%             | 2032-03-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Endurance PT Technology Buyer Corporation                                                       | Endurance PT Technology Buyer Corporation/ Revolver 10/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      50105 | PA      | $49854.48      | 0.00%             | 2031-10-28      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| Vista Higher Learning, LLC                                                                      | Vista Higher Learning, LLC/First Out Term Loan 9/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $980.00        | 0.00%             | 2031-09-16      | Floating      | 7.17%                 | No            |                  3 | On Loan: No      |
| Vista Higher Learning, LLC                                                                      | Vista Higher Learning, LLC/Last Out Term Loan 9/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     600856 | PA      | $588839.19     | 0.01%             | 2031-09-16      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Vista Higher Learning, LLC                                                                      | Vista Higher Learning, LLC/Revolver 9/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $980.00        | 0.00%             | 2031-09-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wellness AcquisitionCo, Inc.                                                                    | Wellness AcquisitionCo, Inc./Restatement Term Loan 2/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5307030 | PA      | $5307029.73    | 0.11%             | 2029-01-20      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Accommodations Plus Technologies LLC                                                            | Accommodations Plus Technologies LLC/Refinancing Term Loan 12/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     830125 | PA      | $830124.91     | 0.02%             | 2032-05-28      | Floating      | 8.94%                 | No            |                  3 | On Loan: No      |
| Wellness AcquisitionCo, Inc.                                                                    | Wellness AcquisitionCo, Inc./Amendment No. 1 Delayed Draw Term Loan 2/25                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     537182 | PA      | $537182.04     | 0.01%             | 2029-01-20      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Wellness AcquisitionCo, Inc.                                                                    | Wellness AcquisitionCo, Inc./Restatement Revolver 2/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1500110 | PA      | $1500109.65    | 0.03%             | 2029-01-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Alcami Corporation                                                                              | Alcami Corporation/Term Loan 12/22                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     199314 | PA      | $199313.66     | 0.00%             | 2028-12-21      | Floating      | 10.82%                | No            |                  3 | On Loan: No      |
| Alcami Corporation                                                                              | Alcami Corporation/Delayed Draw Term Loan 12/22                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      14671 | PA      | $14670.82      | 0.00%             | 2028-12-21      | Floating      | 10.82%                | No            |                  3 | On Loan: No      |
| Alcami Corporation                                                                              | Alcami Corporation/Revolver 12/22                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      27398 | PA      | $27398.00      | 0.00%             | 2028-12-21      | Floating      | 10.78%                | No            |                  3 | On Loan: No      |
| Infinity Home Services HoldCo, Inc.                                                             | Infinity Home Services HoldCo, Inc./Closing Date Term Loan 12/22                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3306818 | PA      | $3306818.24    | 0.07%             | 2028-12-28      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Infinity Home Services HoldCo, Inc.                                                             | Infinity Home Services HoldCo, Inc./Closing Date Delayed Draw Term Loan 12/22                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1024471 | PA      | $1024471.02    | 0.02%             | 2028-12-28      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Infinity Home Services HoldCo, Inc.                                                             | Infinity Home Services HoldCo, Inc./Revolver 12/22                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     454545 | PA      | $454545.00     | 0.01%             | 2028-12-28      | Floating      | 11.75%                | No            |                  3 | On Loan: No      |
| AIMCO 2021-16                                                                                   | AIMCO 2021-16A SUB                                                                                                            | CUSIP: 00901GAC8<br>LEI: 254900Q0PCRO7XC6LM21 | Long             | ABS-O            | CORP              | KY        |    5881700 | PA      | $3192592.64    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AIMCO 2025-23                                                                                   | AIMCO 2025-23A SUB                                                                                                            | CUSIP: 00901KAC9<br>LEI: 254900JY4GSBXW978G85 | Long             | ABS-O            | CORP              | KY        |    8870000 | PA      | $6788290.83    | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AIMCO 2023-20                                                                                   | AIMCO 2023-20A SUB                                                                                                            | CUSIP: 00901TAC0<br>LEI: 2549009AFNTQKXTAWE65 | Long             | ABS-O            | CORP              | KY        |    1543353 | PA      | $1227863.87    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AIMCO 2024-22                                                                                   | AIMCO 2024-22A E                                                                                                              | CUSIP: 00901VAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    1875000 | PA      | $1871581.88    | 0.04%             | 2037-04-19      | Floating      | 10.17%                | Yes           |                  3 | On Loan: No      |
| AIMCO 2024-22                                                                                   | AIMCO 2024-22A SUB                                                                                                            | CUSIP: 00901VAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |     700000 | PA      | $481912.90     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AIMCO 2025-28                                                                                   | AIMCO 2025-28A SUB                                                                                                            | CUSIP: 00902EAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    8890000 | PA      | $8292849.81    | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cezanne Bidco                                                                                   | Cezanne Bidco/Facility B 10/24                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    5761671 | PA      | $6659659.48    | 0.14%             | 2031-10-30      | Floating      | 7.05%                 | No            |                  3 | On Loan: No      |
| Artivion, Inc.                                                                                  | Artivion, Inc./Initial Term Loan 1/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2277668 | PA      | $2277668.00    | 0.05%             | 2031-01-20      | Floating      | 8.41%                 | No            |                  3 | On Loan: No      |
| Viper Bidco, Inc.                                                                               | Viper Bidco, Inc./Amendment No. 1 Delayed Draw Term Loan 9/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1819866 | PA      | $1801667.34    | 0.04%             | 2031-11-21      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Europa Bidco Limited                                                                            | Europa Bidco Limited/ Committed Additional Facility 09/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2483628 | PA      | $3287309.40    | 0.07%             | 2032-10-21      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Europa Bidco Limited                                                                            | Europa Bidco Limited/ Facility B1 09/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |   11906214 | PA      | $15758966.10   | 0.32%             | 2032-10-21      | Floating      | 9.47%                 | No            |                  3 | On Loan: No      |
| Europa Bidco Limited                                                                            | Europa Bidco Limited/ Facility B2 09/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     743954 | PA      | $984690.68     | 0.02%             | 2032-10-21      | Floating      | 9.29%                 | No            |                  3 | On Loan: No      |
| Aerin Medical Inc.                                                                              | Aerin Medical Inc./Initial Term Loan 12/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2356428 | PA      | $2332864.02    | 0.05%             | 2030-12-20      | Floating      | 10.95%                | No            |                  3 | On Loan: No      |
| Aerin Medical Inc.                                                                              | Aerin Medical Inc./Delayed Draw Term Loan A 12/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     383019 | PA      | $379188.82     | 0.01%             | 2030-12-20      | Floating      | 10.95%                | No            |                  3 | On Loan: No      |
| Triple JJJ Lube, Corp.                                                                          | Triple JJJ Lube, Corp./ Revolver 1/26                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     226566 | PA      | $226566.00     | 0.00%             | 2032-01-26      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| EMB Purchaser, Inc.                                                                             | EMB Purchaser, Inc./Initial Term Loan 3/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   42428248 | PA      | $42003965.04   | 0.85%             | 2032-03-12      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| EMB Purchaser, Inc.                                                                             | EMB Purchaser, Inc./Delayed Draw Term Loan 3/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   25534546 | PA      | $25279200.39   | 0.51%             | 2032-03-12      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| EMB Purchaser, Inc.                                                                             | EMB Purchaser, Inc./Revolver 3/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6839818 | PA      | $6771419.82    | 0.14%             | 2032-03-12      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Solar Bidco Limited                                                                             | Solar Bidco Limited/Acquisition/Capex Faility 11/23                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1500000 | PA      | $1985387.55    | 0.04%             | 2029-11-23      | Floating      | 8.63%                 | No            |                  3 | On Loan: No      |
| Rawlings Sporting Goods Company, Inc.                                                           | Rawlings Sporting Goods Company, Inc./First Amendment Incremental Term Loan 11/21                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1066468 | PA      | $1066467.79    | 0.02%             | 2030-11-26      | Floating      | 8.60%                 | No            |                  3 | On Loan: No      |
| Bamboo Purchaser, Inc.                                                                          | Bamboo Purchaser, Inc./Revolver 11/21                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $1000.00       | 0.00%             | 2026-11-05      | Floating      | 8.40%                 | No            |                  3 | On Loan: No      |
| Cascade Parent Inc.                                                                             | Cascade Parent Inc./Initial Term Loan 9/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     544017 | PA      | $538576.83     | 0.01%             | 2031-09-24      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Cascade Parent Inc.                                                                             | Cascade Parent Inc./Revolver 9/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      51790 | PA      | $51272.10      | 0.00%             | 2030-09-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Accommodations Plus Technologies LLC                                                            | Accommodations Plus Technologies LLC/2025 Incremental Term Loan 12/25                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1300212 | PA      | $1300212.00    | 0.03%             | 2032-05-28      | Floating      | 8.94%                 | No            |                  3 | On Loan: No      |
| Silver Midco 1 GmbH                                                                             | Silver Midco 1 GmbH Facility B                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DE        |    1863691 | PA      | $2111074.46    | 0.04%             | 2031-06-30      | Floating      | 12.50%                | No            |                  3 | On Loan: No      |
| Silver Midco 1 GmbH                                                                             | Silver Midco 1 GmbH Acquisition Facility                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DE        |     266242 | PA      | $304659.92     | 0.01%             | 2031-06-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Unifi Aviation North America, LLC                                                               | Unifi Aviation North America, LLC/Term Loan 12/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     276619 | PA      | $276619.00     | 0.01%             | 2028-09-29      | Floating      | 9.07%                 | No            |                  3 | On Loan: No      |
| Unifi Aviation North America, LLC                                                               | Unifi Aviation North America, LLC/Delayed Draw Term Loan 12/25                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     368825 | PA      | $368825.00     | 0.01%             | 2028-09-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Merit Software Finance Holdings, LLC                                                            | Merit Software Finance Holdings, LLC/Initial Term Loan 12/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1063243 | PA      | $1052610.57    | 0.02%             | 2032-12-30      | Floating      | 8.94%                 | No            |                  3 | On Loan: No      |
| Merit Software Finance Holdings, LLC                                                            | Merit Software Finance Holdings, LLC/Closing Date Delayed Draw Term Loan 12/25                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     821597 | PA      | $816764.08     | 0.02%             | 2032-12-30      | Floating      | 8.94%                 | No            |                  3 | On Loan: No      |
| CFG Investments WH Limited                                                                      | CFG Investments WH Limited/25 RC                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5100000 | PA      | $5100000.00    | 0.10%             | 2031-03-12      | Floating      | 9.78%                 | No            |                  3 | On Loan: No      |
| Merit Software Finance Holdings, LLC                                                            | Merit Software Finance Holdings, LLC/Revolver 12/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     205885 | PA      | $203826.15     | 0.00%             | 2031-12-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Telle Tire & Auto Service, LLC                                                                  | Telle Tire & Auto Service, LLC/Third Amendment Incremental DDTL 1/26                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     750796 | PA      | $750796.00     | 0.02%             | 2031-03-03      | Floating      | 8.38%                 | No            |                  3 | On Loan: No      |
| QF Holdings, Inc.                                                                               | QF Holdings, Inc./Amendment No. 7 Replacement Term Loan 12/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1319883 | PA      | $1280286.51    | 0.03%             | 2032-12-15      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| QF Holdings, Inc.                                                                               | QF Holdings, Inc./Amendment No. 7 Delayed Draw Term Loan 12/25                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     284867 | PA      | $276320.99     | 0.01%             | 2032-12-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| QF Holdings, Inc.                                                                               | QF Holdings, Inc./Amendment No. 7 Replacement Revolver 12/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     240962 | PA      | $233733.14     | 0.00%             | 2032-12-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Forward Keystone Holdings, LP                                                                   | Forward Keystone Holdings, LP/Back Leverage Term Loan 3/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3837101 | PA      | $3837101.44    | 0.08%             | 2029-03-19      | Floating      | 15.00%                | No            |                  3 | On Loan: No      |
| Forward Keystone Holdings, LP                                                                   | Forward Keystone Holdings, LP/Back Leverage Delayed Draw Term Loan 3/25                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1378790 | PA      | $1378790.50    | 0.03%             | 2029-03-19      | Floating      | 15.00%                | No            |                  3 | On Loan: No      |
| Arrow Borrower 2025, Inc.                                                                       | Arrow Borrower 2025, Inc./ Term Loan 10/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     515047 | PA      | $509896.53     | 0.01%             | 2032-10-15      | Floating      | 7.95%                 | No            |                  3 | On Loan: No      |
| Arrow Borrower 2025, Inc.                                                                       | Arrow Borrower 2025, Inc./ Revolver 10/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     100701 | PA      | $99693.99      | 0.00%             | 2032-10-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Project Cardinal Acquisition, LLC                                                               | Project Cardinal Acquisition, LLC/ Initial Term Loan 9/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     729244 | PA      | $721951.56     | 0.01%             | 2032-10-01      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Project Cardinal Acquisition, LLC                                                               | Project Cardinal Acquisition, LLC/ Revolver 9/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     176482 | PA      | $174717.18     | 0.00%             | 2032-10-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ANCHC 2019-13                                                                                   | ANCHC 2019-13A ERR                                                                                                            | CUSIP: 03329CAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    5000000 | PA      | $4845345.00    | 0.10%             | 2038-04-15      | Floating      | 10.17%                | Yes           |                  3 | On Loan: No      |
| ANCHF 2015-2                                                                                    | ANCHF 2015-2A SBR                                                                                                             | CUSIP: 03329MAJ8<br>LEI: 549300A5WKMO0YA6UL92 | Long             | ABS-O            | CORP              | KY        |    4550283 | PA      | $420446.15     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2025-18                                                                                   | ANCHF 2025-18A SUB                                                                                                            | CUSIP: 03329NAC1<br>LEI: 636700TZS0ICKG81QT91 | Long             | ABS-O            | CORP              | KY        |   18608000 | PA      | $16354403.73   | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2015-1                                                                                    | ANCHF 2015-1A SBR2                                                                                                            | CUSIP: 03329RAJ7<br>LEI: 5493003H2Z81X25TJR71 | Long             | ABS-O            | CORP              | KY        |    4860000 | PA      | $1210047.66    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2016-4                                                                                    | ANCHF 2016-4A SUB                                                                                                             | CUSIP: 03329VAJ8<br>LEI: 549300VR9XUOV1E0U888 | Long             | ABS-O            | CORP              | KY        |    4830000 | PA      | $2477548.50    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| United Digestive MSO Parent, LLC                                                                | United Digestive MSO Parent, LLC/2024 Delayed Draw Term Loan 10/24                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     611748 | PA      | $611748.13     | 0.01%             | 2029-03-30      | Floating      | 9.40%                 | No            |                  3 | On Loan: No      |
| ANCHF 2019-9                                                                                    | ANCHF 2019-9A SUB                                                                                                             | CUSIP: 03330JAN3<br>LEI: 549300SMHL6F6G4VTM11 | Long             | ABS-O            | CORP              | KY        |     930000 | PA      | $550866.90     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2018-6                                                                                    | ANCHF 2018-6A SUB2                                                                                                            | CUSIP: 03330MAC0<br>LEI: 5493009BD57D5LVN7Y80 | Long             | ABS-O            | CORP              | KY        |    1800000 | PA      | $28731.60      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2018-5                                                                                    | ANCHF 2018-5A SUB2                                                                                                            | CUSIP: 03331DAE5<br>LEI: 549300LZ7OB1D07M7N27 | Long             | ABS-O            | CORP              | KY        |    4682375 | PA      | $158484.35     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHC 2021-20                                                                                   | ANCHC 2021-20A SUB                                                                                                            | CUSIP: 03331QAE6<br>LEI: 549300AYL7KYENHY1C67 | Long             | ABS-O            | CORP              | KY        |    3500000 | PA      | $767847.50     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2019-7                                                                                    | ANCHF 2019-7A SUB2                                                                                                            | CUSIP: 03331WAC7<br>LEI: 549300MWYGL7NRZK0P37 | Long             | ABS-O            | CORP              | KY        |    1420000 | PA      | $234300.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2019-8                                                                                    | ANCHF 2019-8A SUB                                                                                                             | CUSIP: 03331YAC3<br>LEI: 549300XI0H54XLMCG667 | Long             | ABS-O            | CORP              | KY        |     404456 | PA      | $182645.45     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2020-10                                                                                   | ANCHF 2020-10A SUB                                                                                                            | CUSIP: 03332BAL2<br>LEI: 549300FU018PJDVE5C16 | Long             | ABS-O            | CORP              | KY        |    1731475 | PA      | $1089471.77    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2025-19                                                                                   | ANCHF 2025-19A SUB                                                                                                            | CUSIP: 03332TAC3<br>LEI: 636700NIUPSXWN2YAM51 | Long             | ABS-O            | CORP              | KY        |   20560000 | PA      | $16180678.88   | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHF 2026-20                                                                                   | ANCHF 2026-20A SUB                                                                                                            | CUSIP: 03333QAC8<br>LEI: 636700BL2MXA0PSWSR37 | Long             | ABS-O            | CORP              | KY        |    5065000 | PA      | $5065000.00    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sunvair Aerospace Group, Inc.                                                                   | Sunvair Aerospace Group, Inc./Delayed Draw Term Loan 5/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1682199 | PA      | $1682199.49    | 0.03%             | 2031-05-30      | Floating      | 8.69%                 | No            |                  3 | On Loan: No      |
| Frontline Road Safety Operations, LLC                                                           | Frontline Road Safety Operations, LLC/Amendment No. 3 Incremental Term Loan 12/25                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2926697 | PA      | $2897430.44    | 0.06%             | 2032-03-04      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Transit Technologies LLC                                                                        | Transit Technologies LLC/Term Loan 9/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     204201 | PA      | $200116.98     | 0.00%             | 2031-08-20      | Floating      | 8.23%                 | No            |                  3 | On Loan: No      |
| Transit Technologies LLC                                                                        | Transit Technologies LLC/Delayed Draw Term Loan 9/25                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      45800 | PA      | $44884.00      | 0.00%             | 2031-08-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Acta GroupCo B.V.                                                                               | Acta GroupCo B.V./ Senior Facility B 12/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1500000 | PA      | $1733783.35    | 0.04%             | 2032-12-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| LGDN Bidco Limited                                                                              | LGDN Bidco Limited/Unitranche Additional  Acquisition Facility 11/22                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     215589 | PA      | $285351.77     | 0.01%             | 2028-12-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Kings Buyer, LLC                                                                                | Kings Buyer, LLC/Revolving Loan 10/21                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     186723 | PA      | $173652.39     | 0.00%             | 2027-10-29      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| Arete Bidco Limited                                                                             | Arete Bidco Limited/Senior Unitranche Facility 05/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    2590111 | PA      | $3428249.42    | 0.07%             | 2031-05-08      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| Arete Bidco Limited                                                                             | Arete Bidco Limited/Senior CAR Facility 04/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    2552000 | PA      | $3377806.01    | 0.07%             | 2031-05-08      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| Box Bidco Limited                                                                               | Box Bidco Limited/ Incremental Facility 04/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     536087 | PA      | $536087.00     | 0.01%             | 2028-11-24      | Floating      | 11.51%                | No            |                  3 | On Loan: No      |
| Villa Dutch Bidco B.V.                                                                          | Villa Dutch Bidco B.V./Term Loan B 05/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    2430000 | PA      | $2361101.88    | 0.05%             | 2029-11-03      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: AUD 04/17/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-5223885.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: NZD 04/17/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-3731511.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: CAD 04/20/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-25334264.00  | -0.51%            |  |  |  | No            |                  2 | On Loan: No      |
| Cardinal Parent, Inc.                                                                           | Cardinal Parent, Inc./Revolver 11/20                                                                                          | CUSIP: 14153EAB1<br>LEI: 5493009YXQNPN3HQQH84 | Long             | LON              | CORP              | US        |       1000 | PA      | $927.69        | 0.00%             | 2027-08-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: AUD 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-656755.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: CAD 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-17653921.00  | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: CAD 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-24802266.00  | -0.50%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: CAD 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-5268271.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: CHF 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-16849.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: CHF 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-10130.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: DKK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-6194780.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: DKK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-13127290.00  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: DKK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-108409.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-154926688.00 | -3.15%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-227529625.00 | -4.62%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-10414160.00  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-1001336.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-694277.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-1453447.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-215869.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-3471387.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $19671191.00   | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: EUR 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $7058486.00    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: GBP 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-124505142.00 | -2.53%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: GBP 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-208262464.00 | -4.23%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: GBP 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-5974180.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: GBP 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-1680550.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: GBP 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-3970654.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: GBP 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $2647103.00    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: JPY 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-6291260.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: NOK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-25301037.00  | -0.51%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: NOK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-660903.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: NZD 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-11108816.00  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: PLN 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-1304790.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: SEK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-5109543.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: SEK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-39798497.00  | -0.81%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: SEK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-388964.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: SEK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-1025302.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: SEK 04/24/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-687453.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Confirmasoft AB                                                                                 | Confirmasoft AB/ Acquisition Facility / 05/21                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    1505376 | PA      | $1739997.23    | 0.04%             | 2027-06-03      | Floating      | 8.12%                 | No            |                  3 | On Loan: No      |
| Worldwide Produce Acquisition, LLC                                                              | Worldwide Produce Acquisition, LLC/ Term Loans 01/23                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     146929 | PA      | $127827.92     | 0.00%             | 2029-01-18      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| Worldwide Produce Acquisition, LLC                                                              | Worldwide Produce Acquisition, LLC/ Revolver 01/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      21187 | PA      | $18432.69      | 0.00%             | 2029-01-18      | Floating      | 10.39%                | No            |                  3 | On Loan: No      |
| Worldwide Produce Acquisition, LLC                                                              | Worldwide Produce Acquisition, LLC/ Tranche B-1 DDTL 01/23                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      23923 | PA      | $20812.91      | 0.00%             | 2029-01-18      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| Box Bidco Limited                                                                               | Box Bidco Limited/ Facility B3 / 11/21                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1690625 | PA      | $1690625.00    | 0.03%             | 2028-11-24      | Floating      | 9.84%                 | No            |                  3 | On Loan: No      |
| BlauwTrust Holding B.V.                                                                         | BlauwTrust Holding B.V./Facility B 04/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    5045075 | PA      | $5831377.80    | 0.12%             | 2029-01-04      | Floating      | 9.38%                 | No            |                  3 | On Loan: No      |
| Goldeneye Parent, LLC                                                                           | Goldeneye Parent, LLC/Initial Term Loan 3/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2460727 | PA      | $2460726.54    | 0.05%             | 2032-03-31      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Goldeneye Parent, LLC                                                                           | Goldeneye Parent, LLC/Revolver 3/25                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     372874 | PA      | $372874.00     | 0.01%             | 2032-03-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wealth Enhancement Group, LLC                                                                   | Wealth Enhancement Group, LLC/Revolving Loan 10/19                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1377981 | PA      | $1364201.01    | 0.03%             | 2028-10-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wealth Enhancement Group, LLC                                                                   | Wealth Enhancement Group, LLC/Initial Delayed Draw Term Loan 10/19                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2322551 | PA      | $2299325.21    | 0.05%             | 2028-10-04      | Floating      | 7.91%                 | No            |                  3 | On Loan: No      |
| Infinity Home Services HoldCo, Inc.                                                             | Infinity Home Services HoldCo, Inc./Amendment No. 3 USD Delayed Draw Term Loan 10/24                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3721219 | PA      | $3721219.35    | 0.08%             | 2028-12-28      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Infinity Home Services HoldCo, Inc.                                                             | Infinity Home Services HoldCo, Inc./Amendment No. 3 CAD/USD Delayed Draw Term Loan 10/24                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1965844 | PA      | $1965844.00    | 0.04%             | 2028-12-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ATRM 15                                                                                         | ATRM 15A SUB                                                                                                                  | CUSIP: 04965EAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    4080000 | PA      | $906237.36     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ATRM 14                                                                                         | ATRM 14A SUB                                                                                                                  | CUSIP: 04965HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   17839387 | PA      | $5524180.26    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Diamond Mezzanine 24 LLC                                                                        | Diamond Mezzanine 24 LLC/Term A Loan 10/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6049670 | PA      | $6049669.65    | 0.12%             | 2030-10-31      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Diamond Mezzanine 24 LLC                                                                        | Diamond Mezzanine 24 LLC/Revolver 10/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     320960 | PA      | $320960.00     | 0.01%             | 2030-10-31      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| NCP-MSI Buyer, Inc.                                                                             | NCP-MSI Buyer, Inc./Initial Term Loan 3/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3862097 | PA      | $3862097.48    | 0.08%             | 2031-03-24      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| NCP-MSI Buyer, Inc.                                                                             | NCP-MSI Buyer, Inc./Delayed Draw Term Loan 3/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     998078 | PA      | $998078.00     | 0.02%             | 2031-03-24      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| NCP-MSI Buyer, Inc.                                                                             | NCP-MSI Buyer, Inc./Tranche A Revolver 3/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     450968 | PA      | $450968.44     | 0.01%             | 2031-03-24      | Floating      | 7.45%                 | No            |                  3 | On Loan: No      |
| NCP-MSI Buyer, Inc.                                                                             | NCP-MSI Buyer, Inc./Tranche B Revolver 3/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     579817 | PA      | $579816.55     | 0.01%             | 2031-03-24      | Floating      | 7.45%                 | No            |                  3 | On Loan: No      |
| Heavy Construction Systems Specialists, LLC                                                     | Heavy Construction Systems Specialists, LLC/Initial Term Loan 11/21                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4032571 | PA      | $4032571.03    | 0.08%             | 2028-11-16      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Heavy Construction Systems Specialists, LLC                                                     | Heavy Construction Systems Specialists, LLC/Revolver 11/21                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     410065 | PA      | $410065.24     | 0.01%             | 2027-11-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| VEIT, LLC                                                                                       | VEIT, LLC/Last Out Term Loan 12/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      25000 | PA      | $25000.00      | 0.00%             | 2029-01-02      | Floating      | 15.85%                | No            |                  3 | On Loan: No      |
| Avaya Holdings Corp.                                                                            | 2264841D US Private Comp                                                                                                      | CUSIP: 05351X507<br>LEI: 549300NZS2OZN6Q63A60 | Long             | EC               | CORP              | US        |      62250 | NS      | $924412.50     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| VEIT, LLC                                                                                       | VEIT, LLC/Revolver 12/25                                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       6770 | PA      | $6770.00       | 0.00%             | 2029-01-02      | Floating      | 8.82%                 | No            |                  3 | On Loan: No      |
| Wellness AcquisitionCo, Inc.                                                                    | Wellness AcquisitionCo, Inc./Incremental Term Loan 01/26                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3718715 | PA      | $3718715.00    | 0.08%             | 2029-01-22      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| EVEREST BIDCO I, INC.                                                                           | EVEREST BIDCO I, INC./ Initial US Term Loan 01/26                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2357468 | PA      | $2357468.00    | 0.05%             | 2033-01-08      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| EVEREST BIDCO I, INC.                                                                           | EVEREST BIDCO I, INC./ Specified Delayed Draw Facility EUR 12/25Initial Euro Term Loan 01/26                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     239890 | PA      | $277278.19     | 0.01%             | 2033-01-08      | Floating      | 7.13%                 | No            |                  3 | On Loan: No      |
| EVEREST BIDCO I, INC.                                                                           | EVEREST BIDCO I, INC./ Delayed Draw Term Loan 01/26                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     564288 | PA      | $564288.00     | 0.01%             | 2033-01-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| EVEREST BIDCO I, INC.                                                                           | EVEREST BIDCO I, INC./ Revolving Credit Loan 01/26                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     300954 | PA      | $300954.00     | 0.01%             | 2033-01-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Severin Acquisition, LLC                                                                        | Severin Acquisition, LLC/Initial Term Loan 9/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   44462013 | PA      | $43572772.96   | 0.88%             | 2031-10-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| eCapital Finance Corp.                                                                          | eCapital Finance Corp./Delayed Draw Term Loan 11/20                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     423586 | PA      | $419350.56     | 0.01%             | 2029-09-29      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| Severin Acquisition, LLC                                                                        | Severin Acquisition, LLC/Delayed Draw Term Loan 9/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9173385 | PA      | $8989917.72    | 0.18%             | 2031-10-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| BCC 2019-2                                                                                      | BCC 2019-2A SUB                                                                                                               | CUSIP: 05682MAC9<br>LEI: 549300WZ8E2KQS66KT95 | Long             | ABS-O            | CORP              | KY        |     810000 | PA      | $139904.82     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BCC 2017-2                                                                                      | BCC 2017-2A SUB                                                                                                               | CUSIP: 05682TAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    7370756 | PA      | $2126816.90    | 0.04%             |  |  |  | No            |                  3 | On Loan: No      |
| BCC 2018-1                                                                                      | BCC 2018-1A SUB                                                                                                               | CUSIP: 05683MAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1420000 | PA      | $12565.58      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BCC 2021-2                                                                                      | BCC 2021-2A SUB                                                                                                               | CUSIP: 05684TAC2<br>LEI: 254900REGRH89UW3BK51 | Long             | ABS-O            | CORP              | KY        |    1000000 | PA      | $181165.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BCC 2022-1                                                                                      | BCC 2022-1A SUB                                                                                                               | CUSIP: 05684WAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   26712000 | PA      | $6365496.31    | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BCC 2024-2                                                                                      | BCC 2024-2A SUB                                                                                                               | CUSIP: 056922AC1<br>LEI: 254900KJZFJF5PZOFD13 | Long             | ABS-O            | CORP              | JE        |    1620000 | PA      | $782641.44     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Arete Bidco Limited                                                                             | Arete Bidco Limited/Senior CAR Facility 2 06/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    3858655 | PA      | $5107283.73    | 0.10%             | 2031-05-08      | Floating      | 10.44%                | No            |                  3 | On Loan: No      |
| Continental Acquisition Holdings, Inc.                                                          | CONTINENTAL ACQUISITION HOLDINGS, INC./Initial Term Loan 01/21                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4597281 | PA      | $2482531.82    | 0.05%             | 2028-07-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Continental Acquisition Holdings, Inc.                                                          | CONTINENTAL ACQUISITION HOLDINGS, INC./Initial Delayed Draw Term Loan 1/21                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1695236 | PA      | $915427.46     | 0.02%             | 2028-07-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BALLY 2024-26                                                                                   | BALLY 2024-26A D                                                                                                              | CUSIP: 05876PAA2<br>LEI: 254900KWGJ97WUSMSQ74 | Long             | ABS-CBDO         | CORP              | KY        |    1800000 | PA      | $1766070.00    | 0.04%             | 2037-07-25      | Floating      | 9.77%                 | Yes           |                  3 | On Loan: No      |
| BALLY 2024-26                                                                                   | BALLY 2024-26A SUB                                                                                                            | CUSIP: 05876PAC8<br>LEI: 254900KWGJ97WUSMSQ74 | Long             | ABS-O            | CORP              | KY        |    2760000 | PA      | $1422837.96    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 1261229 B.C. Ltd.                                                                               | 1261229 B.C. Ltd./Term Loan 3/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |   33274868 | PA      | $32063995.96   | 0.65%             | 2030-10-08      | Floating      | 9.92%                 | No            |                  2 | On Loan: No      |
| Confirmasoft AB                                                                                 | Confirmasoft AB/Acquisition Facility 2 / 1/23                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    1635170 | PA      | $1890020.34    | 0.04%             | 2027-06-03      | Floating      | 8.03%                 | No            |                  3 | On Loan: No      |
| Celnor Group Limited                                                                            | Celnor Group Limited/Incremental Facility 04/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1153786 | PA      | $1527141.57    | 0.03%             | 2031-08-05      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| Aspris Bidco Limited                                                                            | Aspris Bidco Limited/Incremental Facility 01/23                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     571454 | PA      | $756371.11     | 0.02%             | 2030-02-08      | Floating      | 10.60%                | No            |                  3 | On Loan: No      |
| 15484910 Canada Inc.                                                                            | 15484910 Canada Inc./HoldCo Delayed Draw Term Loan /254                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     620215 | PA      | $445845.01     | 0.01%             | 2035-04-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Doxim Inc.                                                                                      | Doxim Inc./Term Loan 9/25                                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   36717869 | PA      | $36717869.27   | 0.75%             | 2027-11-30      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| BABSN 2023-1                                                                                    | BABSN 2023-1A ER                                                                                                              | CUSIP: 06763EAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     900000 | PA      | $882634.50     | 0.02%             | 2038-04-20      | Floating      | 10.37%                | Yes           |                  3 | On Loan: No      |
| Erasmus Acquisition Holding B.V.                                                                | Erasmus Acquisition Holding B.V./Facility B Tranche B2 02/23                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    3323474 | PA      | $3841455.53    | 0.08%             | 2030-03-13      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| Erasmus Acquisition Holding B.V.                                                                | Erasmus Acquisition Holding B.V./Acquisition/ Capex Facility 01/23                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1187326 | PA      | $1372377.40    | 0.03%             | 2030-03-13      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| Transit Technologies LLC                                                                        | Transit Technologies LLC/Revolver 8/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     838611 | PA      | $834417.95     | 0.02%             | 2030-08-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Transit Technologies LLC                                                                        | Transit Technologies LLC/Initial Term Loan 8/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3790435 | PA      | $3771482.83    | 0.08%             | 2031-08-20      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Transit Technologies LLC                                                                        | Transit Technologies LLC/Initial Delayed Draw Term Loan 8/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1349341 | PA      | $1342594.21    | 0.03%             | 2031-08-20      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| BYRDPK 2025-1                                                                                   | BYRDPK 2025-1A SUB                                                                                                            | CUSIP: 072716AC7<br>LEI: 254900IPTPVQFEN03U12 | Long             | ABS-O            | CORP              | KY        |     860000 | PA      | $499884.46     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BYRDPK 2025-1                                                                                   | BYRDPK 2025-1A M                                                                                                              | CUSIP: 072716AE3<br>LEI: 254900IPTPVQFEN03U12 | Long             | ABS-CBDO         | CORP              | KY        |     860000 | PA      | $17298.04      | 0.00%             | 2038-07-24      | Variable      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Automotive Keys Group, LLC                                                                      | Automotive Keys Group, LLC/Term Loan 11/20                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     489034 | PA      | $430350.20     | 0.01%             | 2026-08-06      | Floating      | 10.35%                | No            |                  3 | On Loan: No      |
| Priority Waste Holdings LLC                                                                     | Priority Waste Holdings LLC/Amendment No. 2 Term Loan 6/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3377480 | PA      | $3107281.72    | 0.06%             | 2029-08-20      | Floating      | 11.66%                | No            |                  3 | On Loan: No      |
| Eclipse Buyer, Inc.                                                                             | Eclipse Buyer, Inc./Initial Term Loan 8/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   45018982 | PA      | $44568792.18   | 0.91%             | 2031-09-08      | Floating      | 8.18%                 | No            |                  3 | On Loan: No      |
| Eclipse Buyer, Inc.                                                                             | Eclipse Buyer, Inc./Revolver 8/24                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4350682 | PA      | $4307175.18    | 0.09%             | 2031-09-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Eclipse Buyer, Inc.                                                                             | Eclipse Buyer, Inc./Delayed Draw Term Loan 8/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7630336 | PA      | $7554032.64    | 0.15%             | 2031-09-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| OPH NEP Investment, LLC                                                                         | OPH NEP Investment, LLC/Initial Term Loan 5/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9591065 | PA      | $9303333.40    | 0.19%             | 2032-05-03      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| Cobalt Buyer Sub, Inc.                                                                          | Cobalt Buyer Sub, Inc./Amendment No. 3 Incremental Term Loan 8/24                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1061627 | PA      | $966080.65     | 0.02%             | 2028-10-02      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| DRS Holdings III, Inc.                                                                          | DRS Holdings III, Inc./2025 Term Loan 3/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   14275403 | PA      | $14275402.82   | 0.29%             | 2028-11-01      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Registrar Intermediate, LLC                                                                     | Registrar Intermediate, LLC/Second Amendment Term Loan 3/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     334255 | PA      | $327570.16     | 0.01%             | 2029-08-27      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Registrar Intermediate, LLC                                                                     | Registrar Intermediate, LLC/Second Amendment Delayed Draw Term Loan A 3/25                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     279244 | PA      | $273659.12     | 0.01%             | 2029-08-27      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Sun Acquirer Corp.                                                                              | Sun Acquirer Corp./Amendment No. 1 Incremental Term Loans 11/21                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4127903 | PA      | $4086624.23    | 0.08%             | 2028-09-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)                                            | Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)/Revolver 3/25                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2068149 | PA      | $2068149.00    | 0.04%             | 2032-03-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)                                            | Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)/Initial Term Loan 3/25                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5432553 | PA      | $5432552.74    | 0.11%             | 2032-03-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs, Inc./Amendment No. 1 Revolver 8/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3618236 | PA      | $3618236.00    | 0.07%             | 2028-11-08      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| BR PJK Produce, LLC                                                                             | BR PJK Produce, LLC/Term A-7 Term Loan 1/26                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      80965 | PA      | $80965.00      | 0.00%             | 2027-12-14      | Floating      | 10.05%                | No            |                  3 | On Loan: No      |
| AmeriVet Partners Management, Inc.                                                              | AmeriVet Partners Management, Inc./Term Loan 11/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9244420 | PA      | $7487980.34    | 0.15%             | 2030-12-02      | Floating      | 8.25%                 | No            |                  3 | On Loan: No      |
| AmeriVet Partners Management, Inc.                                                              | AmeriVet Partners Management, Inc./Delayed Draw Term Loan 11/23                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1482788 | PA      | $1201058.52    | 0.02%             | 2030-12-02      | Floating      | 8.25%                 | No            |                  3 | On Loan: No      |
| BSP 2016-9                                                                                      | BSP 2016-9A ER2                                                                                                               | CUSIP: 08181CAQ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    3125000 | PA      | $3062087.50    | 0.06%             | 2037-10-20      | Floating      | 9.57%                 | Yes           |                  3 | On Loan: No      |
| BSP 2018-14                                                                                     | BSP 2018-14A ER                                                                                                               | CUSIP: 08181NAE3<br>LEI: 5493008E17UEFI73RC63 | Long             | ABS-CBDO         | CORP              | KY        |    5500000 | PA      | $5424122.00    | 0.11%             | 2037-10-20      | Floating      | 9.82%                 | Yes           |                  3 | On Loan: No      |
| BSP 2022-28                                                                                     | BSP 2022-28A ER                                                                                                               | CUSIP: 08181RAE4<br>LEI: 549300VHDAICRAGZNJ35 | Long             | ABS-CBDO         | CORP              | KY        |     500000 | PA      | $489954.50     | 0.01%             | 2037-10-20      | Floating      | 9.07%                 | Yes           |                  3 | On Loan: No      |
| BSP 2024-37                                                                                     | BSP 2024-37A SUB                                                                                                              | CUSIP: 08182VAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    6670000 | PA      | $5007515.84    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BSP 2023-31                                                                                     | BSP 2023-31A ER                                                                                                               | CUSIP: 08183AAE9<br>LEI: 254900SVG14IYL7QTZ56 | Long             | ABS-CBDO         | CORP              | JE        |     375000 | PA      | $367944.38     | 0.01%             | 2038-04-25      | Floating      | 10.84%                | Yes           |                  3 | On Loan: No      |
| BSP 2024-38                                                                                     | BSP 2024-38A E                                                                                                                | CUSIP: 08183GAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    3750000 | PA      | $3671861.25    | 0.07%             | 2038-01-25      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| BSP 2023-30                                                                                     | BSP 2023-30A ER                                                                                                               | CUSIP: 08186LAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    2000000 | PA      | $1958314.00    | 0.04%             | 2038-04-25      | Floating      | 9.12%                 | Yes           |                  3 | On Loan: No      |
| Gapco Aiv Interholdco (CP), L.P.                                                                | Gapco Aiv Interholdco (CP), L.P./Delayed Draw Term Loan 3/31                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4343340 | PA      | $4343339.50    | 0.09%             | 2033-03-31      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: GBP 08/21/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-3650734.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                                                             | Forward Contracts: GBP 08/21/2026                                                                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |          1 | NC      | $-807177.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Aldinger Company                                                                                | Aldinger Company/Amendment No. 1 Delayed Draw Term Loan 3/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     514413 | PA      | $514412.63     | 0.01%             | 2030-10-18      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs, Inc./Revolver 5/24                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1704534 | PA      | $1704534.00    | 0.03%             | 2028-11-08      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs, Inc./Initial Term Loan 5/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3796227 | PA      | $3796227.48    | 0.08%             | 2028-11-08      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs, Inc./Delayed Draw Term Loan 5/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     813478 | PA      | $813477.68     | 0.02%             | 2028-11-08      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| Cardinal Parent, Inc.                                                                           | Cardinal Parent, Inc./Second Lien Term Loan 11/20                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   10547240 | PA      | $10019877.95   | 0.20%             | 2028-11-13      | Floating      | 11.60%                | No            |                  3 | On Loan: No      |
| Galaxy Buyer, Inc.                                                                              | Galaxy Buyer, Inc./ Term Loan 1/26                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     891790 | PA      | $882872.10     | 0.02%             | 2033-01-12      | Floating      | 8.40%                 | No            |                  3 | On Loan: No      |
| Rubicone Bidco Limited                                                                          | Rubicone Bidco Limited/Unitranche Facility 11/21                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2772622 | PA      | $3669819.01    | 0.07%             | 2028-12-01      | Floating      | 10.35%                | No            |                  3 | On Loan: No      |
| Rubicone Bidco Limited                                                                          | Rubicone Bidco Limited/Unitranche Acquisition Facility 11/21                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1698033 | PA      | $2247502.06    | 0.05%             | 2028-12-01      | Floating      | 10.36%                | No            |                  3 | On Loan: No      |
| Galaxy Buyer, Inc.                                                                              | Galaxy Buyer, Inc./ Revolver 1/26                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     190122 | PA      | $188220.78     | 0.00%             | 2032-01-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Continental Acquisition Holdings, Inc.                                                          | Continental Acquisition Holdings, Inc./Revolving Credit Loan 01/21                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1375 | PA      | $1375.00       | 0.00%             | 2028-01-20      | Floating      | 7.72%                 | No            |                  3 | On Loan: No      |
| eCapital Finance Corp.                                                                          | eCapital Finance Corp./Sixth Amendment Incremental Term Loan 9/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    1531649 | PA      | $1516332.51    | 0.03%             | 2029-09-29      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| HBH Buyer, LLC                                                                                  | HBH Buyer, LLC/Delayed Draw Term Loan 9/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     103003 | PA      | $103003.00     | 0.00%             | 2031-09-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| HBH Buyer, LLC                                                                                  | HBH Buyer, LLC/Seasonal Revolver 9/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     126771 | PA      | $126771.00     | 0.00%             | 2031-09-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| HBH Buyer, LLC                                                                                  | HBH Buyer, LLC/Initial Revolver First Tranche 9/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     158483 | PA      | $158483.00     | 0.00%             | 2031-09-29      | Floating      | 7.20%                 | No            |                  3 | On Loan: No      |
| GHP-VGS Purchaser LLC                                                                           | GHP-VGS Purchaser LLC/Revolver 4/25                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     285393 | PA      | $285393.00     | 0.01%             | 2032-04-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| GHP-VGS Purchaser LLC                                                                           | GHP-VGS Purchaser LLC/Term Loan 4/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1981184 | PA      | $1981184.00    | 0.04%             | 2032-04-30      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| GHP-VGS Purchaser LLC                                                                           | GHP-VGS Purchaser LLC/Delayed Draw Term Loan 4/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     925787 | PA      | $925787.00     | 0.02%             | 2032-04-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Cascade Intermediate II, Inc.                                                                   | Cascade Intermediate II, Inc./Holdco Term Loan 9/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     460247 | PA      | $453343.40     | 0.01%             | 2033-09-26      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| VPP Intermediate Holdings, LLC                                                                  | VPP Intermediate Holdings, LLC/Term A Loan 12/21                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1517883 | PA      | $1517882.97    | 0.03%             | 2027-12-01      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| VPP Intermediate Holdings, LLC                                                                  | VPP Intermediate Holdings, LLC/Delayed Draw Term Loan 12/21                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     456390 | PA      | $456389.90     | 0.01%             | 2027-12-01      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| Symplr Software Inc.                                                                            | Symplr Software Inc./First Lien Term Loan 12/20                                                                               | CUSIP: 87190HAC3<br>LEI: 254900NR8M8HYDVR0M34 | Long             | LON              | CORP              | US        |    3559135 | PA      | $2491394.64    | 0.05%             | 2027-12-22      | Floating      | 8.27%                 | No            |                  2 | On Loan: No      |
| Symplr Software Inc.                                                                            | Symplr Software Inc./Second Lien Initial Term Loan 12/20                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   15626135 | PA      | $11250817.32   | 0.23%             | 2028-12-22      | Floating      | 11.64%                | No            |                  3 | On Loan: No      |
| TSWT Acquisition, Inc.                                                                          | TSWT Acquisition, Inc./ Term Loan 10/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     259641 | PA      | $257044.86     | 0.01%             | 2031-11-21      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| TSWT Acquisition, Inc.                                                                          | TSWT Acquisition, Inc./ Delayed Draw Term Loan 10/25                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     119871 | PA      | $119271.65     | 0.00%             | 2031-11-21      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| TSWT Acquisition, Inc.                                                                          | TSWT Acquisition, Inc./ Revolver 10/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      54967 | PA      | $54417.33      | 0.00%             | 2031-11-21      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Indigo Acquisition B.V.                                                                         | Indigo Acquisition B.V./Facility B USD Tranche B2 08/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1275705 | PA      | $1474531.08    | 0.03%             | 2031-09-10      | Floating      | 11.21%                | No            |                  3 | On Loan: No      |
| KNPC Holdco, LLC                                                                                | KNPC Holdco, LLC/Tranche D-1 Incremental Term Loan 11/24                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7285207 | PA      | $7285207.05    | 0.15%             | 2029-10-22      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| BERRY 2024-1                                                                                    | BERRY 2024-1A SUB                                                                                                             | CUSIP: 09609VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |    3580000 | PA      | $1846979.28    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BERRY 2024-1                                                                                    | BERRY 2024-1A M                                                                                                               | CUSIP: 09609VAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |    3580000 | PA      | $193545.54     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Diligent Corporation                                                                            | Diligent Corporation/A-1 Cash Pay Term Loan 4/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6978183 | PA      | $6768837.27    | 0.14%             | 2030-08-02      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Diligent Corporation                                                                            | Diligent Corporation/A-1 PIK Option Term Loan 4/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1196261 | PA      | $1160373.64    | 0.02%             | 2030-08-02      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Dayforce, Inc.                                                                                  | Dayforce, Inc./Term Loan B 09/25                                                                                              | CUSIP: 23923YAB7<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |   11764850 | PA      | $11114489.10   | 0.23%             | 2033-02-04      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| ASP Dream Acquisition Co LLC                                                                    | ASP Dream Acquisition Co LLC/Term Loan B 11/21                                                                                | CUSIP: 00217BAB0<br>LEI: 254900DH5Q9BDS6KS803 | Long             | LON              | CORP              | US        |    5903134 | PA      | $5342336.30    | 0.11%             | 2028-12-15      | Floating      | 8.02%                 | No            |                  3 | On Loan: No      |
| Reagent Chemical & Research, LLC                                                                | Reagent Chemical & Research, LLC/ Amendment No. 1 Incremental Term Loan 9/25                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     456957 | PA      | $456956.51     | 0.01%             | 2031-04-30      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| CMG HoldCo, LLC                                                                                 | CMG HoldCo, LLC/Amendment No. 4 Delayed Draw Term Loan 10/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     579102 | PA      | $573310.98     | 0.01%             | 2030-11-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Sedgwick Claims Management Services, Inc. (Lightning Cayman Merger Sub, Ltd.)                   | Sedgwick Claims Management Services, Inc. (Lightning Cayman Merger Sub, Ltd.)/Term Loan 02/23                                 | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |   12369360 | PA      | $12128652.51   | 0.25%             | 2031-07-31      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Novipax Buyer, L.L.C.                                                                           | Novipax Buyer, L.L.C./Initial Term Loan 11/20                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4075898 | PA      | $4075898.19    | 0.08%             | 2026-12-01      | Floating      | 12.02%                | No            |                  3 | On Loan: No      |
| WorkWave Intermediate II, LLC                                                                   | WorkWave Intermediate II, LLC/ 2025 Term Loan 9/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   43434818 | PA      | $42566121.22   | 0.86%             | 2032-09-30      | Floating      | 9.44%                 | No            |                  3 | On Loan: No      |
| 15484880 Canada Inc.                                                                            | 15484880 Canada Inc./Term Loan 4/25                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    4321668 | PA      | $3106654.86    | 0.06%             | 2031-04-02      | Floating      | 7.83%                 | No            |                  3 | On Loan: No      |
| 15484880 Canada Inc.                                                                            | 15484880 Canada Inc./Revolver 4/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     414168 | PA      | $297726.98     | 0.01%             | 2031-04-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| 15484880 Canada Inc.                                                                            | 15484880 Canada Inc./Delayed Draw Term Loan 4/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    1031572 | PA      | $741551.36     | 0.02%             | 2031-04-02      | Floating      | 7.83%                 | No            |                  3 | On Loan: No      |
| WorkWave Intermediate II, LLC                                                                   | WorkWave Intermediate II, LLC/ 2025 Revolver 9/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5197004 | PA      | $5093064.41    | 0.10%             | 2032-09-30      | Floating      | 9.46%                 | No            |                  3 | On Loan: No      |
| PHM Group Holding Oyj                                                                           | PHM Group Holding Oyj/EUR Term Loan B 2/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FI        |    6216867 | PA      | $7092457.30    | 0.14%             | 2032-04-22      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Coupa Holdings, LLC                                                                             | Coupa Holdings, LLC/Delayed Draw Term Loan 02/23                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      20410 | PA      | $19695.65      | 0.00%             | 2030-02-27      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Clarion Home Services Group, LLC                                                                | Clarion Home Services Group, LLC/Closing Date Term Loan 12/21                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2638290 | PA      | $2216163.99    | 0.05%             | 2027-12-06      | Floating      | 11.76%                | No            |                  3 | On Loan: No      |
| Clarion Home Services Group, LLC                                                                | Clarion Home Services Group, LLC/Delayed Draw Term Loan 12/21                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1498166 | PA      | $1258459.84    | 0.03%             | 2027-12-06      | Floating      | 11.76%                | No            |                  3 | On Loan: No      |
| Clarion Home Services Group, LLC                                                                | Clarion Home Services Group, LLC/Revolver 12/21                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     416279 | PA      | $345511.59     | 0.01%             | 2027-12-06      | Floating      | 9.78%                 | No            |                  3 | On Loan: No      |
| Surescripts, LLC                                                                                | Surescripts, LLC/Revolver 10/24                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     241184 | PA      | $241184.00     | 0.00%             | 2031-11-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Symplr Software Inc.                                                                            | Symplr Software Inc./Revolving Credit Loan 12/20                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1300 | PA      | $910.00        | 0.00%             | 2027-12-22      | Floating      | 7.42%                 | No            |                  3 | On Loan: No      |
| Andwis Group Limited                                                                            | Andwis Group Limited/Facility B1  Commitment 10/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2074074 | PA      | $2745227.13    | 0.06%             | 2031-11-13      | Floating      | 10.53%                | No            |                  3 | On Loan: No      |
| Andwis Group Limited                                                                            | Andwis Group Limited/Acquisition/CAPEX Facility Commitment 10/24                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1274074 | PA      | $1686353.77    | 0.03%             | 2031-11-13      | Floating      | 10.73%                | No            |                  3 | On Loan: No      |
| Frontline Road Safety Operations, LLC                                                           | Frontline Road Safety Operations, LLC/Amendment No. 2 Delayed Draw Term Loan 9/25                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     302146 | PA      | $299124.94     | 0.01%             | 2032-03-04      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Datix Bidco Limited                                                                             | Datix Bidco Limited/Facility B GBP 4/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3289344 | PA      | $4310210.93    | 0.09%             | 2031-04-30      | Floating      | 9.46%                 | No            |                  3 | On Loan: No      |
| JSG II, Inc. and Checkers USA, Inc.                                                             | JSG II, Inc. and Checkers USA, Inc./JHC Acquisition Corp/ Initial Term Loan 9/25                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     178934 | PA      | $177144.66     | 0.00%             | 2032-09-30      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| JSG II, Inc. and Checkers USA, Inc.                                                             | JSG II, Inc. and Checkers USA, Inc./JHC Acquisition Corp/ Delay Draw Term Loan 9/25                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      49547 | PA      | $49051.53      | 0.00%             | 2032-09-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| JSG II, Inc. and Checkers USA, Inc.                                                             | JSG II, Inc. and Checkers USA, Inc./JHC Acquisition Corp/ Revolver 9/25                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      21521 | PA      | $21305.79      | 0.00%             | 2032-09-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Platinum Credit Bidco Limited                                                                   | Platinum Credit Bidco Limited/Interim Unitranche Facility 08/2024                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    8917041 | PA      | $11802521.44   | 0.24%             | 2029-11-09      | Floating      | 9.98%                 | No            |                  3 | On Loan: No      |
| Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL                | BPYU 4.5% Secured Nts due 2027 144A                                                                                           | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    8321000 | PA      | $8162568.33    | 0.17%             | 2027-04-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| WPT Intermediate Holdco, Inc.                                                                   | WPT Intermediate Holdco, Inc./Initial Term Loan 5/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   22433688 | PA      | $19517308.27   | 0.40%             | 2029-05-07      | Floating      | 13.25%                | No            |                  3 | On Loan: No      |
| Bumble Bidco Limited                                                                            | Bumble Bidco Limited/Facility C 10/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1666667 | PA      | $2205986.61    | 0.04%             | 2030-10-25      | Floating      | 10.50%                | No            |                  3 | On Loan: No      |
| Bayou Intermediate II, LLC                                                                      | Bayou Intermediate II, LLC/Term Loan 9/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     993697 | PA      | $983760.03     | 0.02%             | 2032-09-30      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Bayou Intermediate II, LLC                                                                      | Bayou Intermediate II, LLC/Delayed Draw Term Loan 9/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     271008 | PA      | $268297.92     | 0.01%             | 2032-09-30      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Bayou Intermediate II, LLC                                                                      | Bayou Intermediate II, LLC/Revolver 9/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     157237 | PA      | $155664.63     | 0.00%             | 2032-09-30      | Floating      | 8.44%                 | No            |                  3 | On Loan: No      |
| SV Newco 2, Inc.                                                                                | SV Newco 2, Inc./Incremental Term Loan 9/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     101574 | PA      | $101574.00     | 0.00%             | 2031-06-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Convera International Holdings Limited                                                          | Convera International Holdings Limited/Term Loan 11/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    2791554 | PA      | $2791553.89    | 0.06%             | 2030-03-01      | Floating      | 8.48%                 | No            |                  3 | On Loan: No      |
| Revalize, Inc.                                                                                  | Revalize, Inc./Tranche 3 Delayed Draw Term Loan 04/21                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     916444 | PA      | $788141.82     | 0.02%             | 2029-04-16      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Revalize, Inc.                                                                                  | Revalize, Inc./Tranche 4 Delayed Draw Term Loan 04/21                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     203174 | PA      | $174729.56     | 0.00%             | 2029-04-16      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| RMS Holdco II, LLC                                                                              | RMS Holdco II, LLC/Closing Date Term Loan 12/21                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3895958 | PA      | $3701160.49    | 0.08%             | 2029-06-15      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Spitfire Bidco Limited                                                                          | Spitfire Bidco Limited/Additional Capex Facility 1 04/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3532050 | PA      | $4674992.65    | 0.09%             | 2029-09-28      | Floating      | 10.98%                | No            |                  3 | On Loan: No      |
| King Risk Partners, LLC                                                                         | King Risk Partners, LLC/Term Loan 4/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1196776 | PA      | $1196776.05    | 0.02%             | 2031-04-23      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| King Risk Partners, LLC                                                                         | King Risk Partners, LLC/Delayed Draw Term Loan 4/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1201766 | PA      | $1201765.99    | 0.02%             | 2031-04-23      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| King Risk Partners, LLC                                                                         | King Risk Partners, LLC/Revolver 4/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     260801 | PA      | $260801.00     | 0.01%             | 2031-04-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Pluralsight, LLC                                                                                | Pluralsight, LLC/2024 Term Loan 8/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1076658 | PA      | $1076657.97    | 0.02%             | 2029-08-22      | Floating      | 6.67%                 | No            |                  3 | On Loan: No      |
| Pluralsight, LLC                                                                                | Pluralsight, LLC/Revolver 8/24                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     528662 | PA      | $528662.00     | 0.01%             | 2029-08-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CIFC 2021-4                                                                                     | CIFC 2021-4A ER                                                                                                               | CUSIP: 12547GAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1000000 | PA      | $985140.00     | 0.02%             | 2037-07-23      | Floating      | 9.87%                 | Yes           |                  3 | On Loan: No      |
| Pluralsight, LLC                                                                                | Pluralsight, LLC/Delayed Draw Term Loan 8/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1321656 | PA      | $1321656.00    | 0.03%             | 2029-08-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CIFC 2018-5                                                                                     | CIFC 2018-5A SUB                                                                                                              | CUSIP: 12551XAC9<br>LEI: 2549007CW2XYI54L0R94 | Long             | ABS-O            | CORP              | KY        |     500000 | PA      | $186729.50     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2018-5                                                                                     | CIFC 2018-5A ER                                                                                                               | CUSIP: 12551XAE5<br>LEI: 2549007CW2XYI54L0R94 | Long             | ABS-CBDO         | CORP              | KY        |     650000 | PA      | $634663.90     | 0.01%             | 2038-07-15      | Floating      | 10.27%                | Yes           |                  3 | On Loan: No      |
| CIFC 2019-1                                                                                     | CIFC 2019-1A SUB                                                                                                              | CUSIP: 12553BAC5<br>LEI: 254900RRJV30GDUWIX97 | Long             | ABS-O            | CORP              | KY        |    8702402 | PA      | $3858375.27    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Pluralsight, LLC                                                                                | Pluralsight, LLC/First-Priority Term Loan 8/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2153316 | PA      | $2153315.95    | 0.04%             | 2029-08-22      | Floating      | 6.67%                 | No            |                  3 | On Loan: No      |
| CIFC 2020-3                                                                                     | CIFC 2020-3A SUB                                                                                                              | CUSIP: 12560GAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1546806 | PA      | $821123.51     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2021-5                                                                                     | CIFC 2021-5A SUB                                                                                                              | CUSIP: 12565HAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    7301243 | PA      | $3652132.86    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2021-5                                                                                     | CIFC 2021-5A ER                                                                                                               | CUSIP: 12565HAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    3450000 | PA      | $3399440.25    | 0.07%             | 2038-01-15      | Floating      | 8.77%                 | Yes           |                  3 | On Loan: No      |
| CIFC 2021-2                                                                                     | CIFC 2021-2A SUB                                                                                                              | CUSIP: 12565TAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    5507759 | PA      | $2412073.48    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2021-7                                                                                     | CIFC 2021-7A SUB                                                                                                              | CUSIP: 12567KAC9<br>LEI: 54930089HD7KU5NUS092 | Long             | ABS-O            | CORP              | KY        |     250000 | PA      | $127549.75     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2022-6                                                                                     | CIFC 2022-6A ER                                                                                                               | CUSIP: 12569BAG8<br>LEI: 254900BYFL73GAM27L25 | Long             | ABS-CBDO         | CORP              | KY        |     437500 | PA      | $430199.88     | 0.01%             | 2038-10-16      | Floating      | 9.42%                 | Yes           |                  3 | On Loan: No      |
| CIFC 2022-7                                                                                     | CIFC 2022-7A ER                                                                                                               | CUSIP: 12569GAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     687500 | PA      | $673491.50     | 0.01%             | 2038-01-22      | Floating      | 9.02%                 | Yes           |                  3 | On Loan: No      |
| Pluralsight, LLC                                                                                | Pluralsight, LLC/Second-Priority Term Loan 8/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3798253 | PA      | $227895.15     | 0.00%             | 2029-08-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CIFC 2024-1                                                                                     | CIFC 2024-1A E                                                                                                                | CUSIP: 12570YAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     375000 | PA      | $368450.63     | 0.01%             | 2037-04-18      | Floating      | 10.27%                | Yes           |                  3 | On Loan: No      |
| CIFC 2022-5                                                                                     | CIFC 2022-5A SUB                                                                                                              | CUSIP: 12574CAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   10376100 | PA      | $5900856.94    | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2025-3                                                                                     | CIFC 2025-3A SUB                                                                                                              | CUSIP: 12574PAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    7712000 | PA      | $5978280.70    | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2025-4                                                                                     | CIFC 2025-4A SUB                                                                                                              | CUSIP: 12575PAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    8240000 | PA      | $6160116.88    | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2025-7                                                                                     | CIFC 2025-7A SUB                                                                                                              | CUSIP: 12575YAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    9135000 | PA      | $7988676.26    | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2024-3                                                                                     | CIFC 2024-3A SUB                                                                                                              | CUSIP: 12576JAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     680000 | PA      | $422345.28     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Revival Animal Health, LLC                                                                      | Revival Animal Health, LLC/Tranche B-1 Term Loan 4/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     352273 | PA      | $331136.60     | 0.01%             | 2028-01-03      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Revival Animal Health, LLC                                                                      | Revival Animal Health, LLC/Delayed Draw Term Loan 4/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     266201 | PA      | $250228.94     | 0.01%             | 2028-01-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Datix Bidco Limited                                                                             | Datix Bidco Limited/CAR Facility 4/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     890744 | PA      | $881836.56     | 0.02%             | 2031-04-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| UserZoom Technologies, Inc.                                                                     | UserZoom Technologies, Inc./Incremental Term Loan 1/26                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      22691 | PA      | $20421.90      | 0.00%             | 2029-04-05      | Floating      | 11.15%                | No            |                  3 | On Loan: No      |
| U.S. Urology Partners, LLC                                                                      | U.S. Urology Partners, LLC/Revolver 4/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     185664 | PA      | $185664.00     | 0.00%             | 2032-04-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Automotive Keys Group, LLC                                                                      | Automotive Keys Group, LLC/2021 Incremental Term Loan 12/21                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     856611 | PA      | $753817.42     | 0.02%             | 2026-08-06      | Floating      | 10.35%                | No            |                  3 | On Loan: No      |
| U.S. Urology Partners, LLC                                                                      | U.S. Urology Partners, LLC/Delayed Draw Term Loan 4/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     360243 | PA      | $360243.14     | 0.01%             | 2032-04-08      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Fitness Ventures Holdings, Inc.                                                                 | Fitness Ventures Holdings, Inc./Initial Term Loan 8/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2000243 | PA      | $2000243.45    | 0.04%             | 2031-08-01      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| LEG Purchaser Inc                                                                               | LEG Purchaser Inc/Term Loan 1/26                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     957350 | PA      | $942989.75     | 0.02%             | 2032-01-12      | Floating      | 9.15%                 | No            |                  3 | On Loan: No      |
| Jewel Bidco Limited                                                                             | Jewel Bidco Limited/Incremental Facility B2 Commitment 04/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      73465 | PA      | $97237.25      | 0.00%             | 2028-07-24      | Floating      | 15.00%                | No            |                  3 | On Loan: No      |
| Elevation Services Parent Holdings, LLC                                                         | Elevation Services Parent Holdings, LLC/Initial Term Loan 12/20                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1282570 | PA      | $1282570.50    | 0.03%             | 2028-12-18      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| Elevation Services Parent Holdings, LLC                                                         | Elevation Services Parent Holdings, LLC/Delayed Draw Term Loan 12/20                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1714819 | PA      | $1714819.33    | 0.03%             | 2028-12-18      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| Elevation Services Parent Holdings, LLC                                                         | Elevation Services Parent Holdings, LLC/Revolving Loan 12/20                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     630645 | PA      | $630645.02     | 0.01%             | 2028-12-18      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Prime Dental Alliance B.V.                                                                      | Prime Dental Alliance B.V./Additional Term Facility 03/23                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     953389 | PA      | $1101979.98    | 0.02%             | 2027-06-21      | Floating      | 9.88%                 | No            |                  3 | On Loan: No      |
| Systems Planning and Analysis, Inc.                                                             | Systems Planning and Analysis, Inc./Term Loan 10/21                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4353268 | PA      | $4353267.65    | 0.09%             | 2027-08-16      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Systems Planning and Analysis, Inc.                                                             | Systems Planning and Analysis, Inc./Revolving Loan 10/21                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1003584 | PA      | $1003584.23    | 0.02%             | 2027-08-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Aventine Intermediate LLC                                                                       | Aventine Intermediate LLC/Term Loan 12/21                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1354204 | PA      | $1245867.81    | 0.03%             | 2029-06-18      | Floating      | 9.80%                 | No            |                  3 | On Loan: No      |
| Aventine Intermediate LLC                                                                       | Aventine Intermediate LLC/Delayed Draw Term Loan 12/21                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     551160 | PA      | $507067.50     | 0.01%             | 2029-06-18      | Floating      | 9.80%                 | No            |                  3 | On Loan: No      |
| Edmunds GovTech, Inc.                                                                           | Edmunds GovTech, Inc./Second Tranche Revolver 2/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      32100 | PA      | $32099.50      | 0.00%             | 2030-02-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CPTPK 2024-1                                                                                    | CPTPK 2024-1A E                                                                                                               | CUSIP: 14074FAA6<br>LEI: 254900T5FZQKDOCWVD69 | Long             | ABS-CBDO         | CORP              | JE        |    1750000 | PA      | $1666827.75    | 0.03%             | 2037-07-20      | Floating      | 9.67%                 | Yes           |                  3 | On Loan: No      |
| CGMS 2024-1                                                                                     | CGMS 2024-1A E                                                                                                                | CUSIP: 142924AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1096000 | PA      | $1096054.80    | 0.02%             | 2037-04-15      | Floating      | 10.59%                | Yes           |                  3 | On Loan: No      |
| CGMS 2022-2                                                                                     | CGMS 2022-2A ER                                                                                                               | CUSIP: 143113AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2850000 | PA      | $2794949.40    | 0.06%             | 2038-01-20      | Floating      | 10.62%                | Yes           |                  3 | On Loan: No      |
| CGMS 2021-8                                                                                     | CGMS 2021-8A SUBA                                                                                                             | CUSIP: 143117AE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1162462 | PA      | $446838.77     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2019-3                                                                                     | CGMS 2019-3A SUB                                                                                                              | CUSIP: 14314KAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    6943477 | PA      | $3459844.32    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2018-4                                                                                     | CGMS 2018-4A SUB                                                                                                              | CUSIP: 14315QAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3487000 | PA      | $1090280.29    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2021-2                                                                                     | CGMS 2021-2A SUB                                                                                                              | CUSIP: 14316PAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    6457000 | PA      | $3321442.06    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2021-4                                                                                     | CGMS 2021-4A SUB                                                                                                              | CUSIP: 14316UAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3060000 | PA      | $480013.02     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2018-3                                                                                     | CGMS 2018-3A SUB                                                                                                              | CUSIP: 14317TAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     750000 | PA      | $1200.38       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2020-1                                                                                     | CGMS 2020-1A DRR                                                                                                              | CUSIP: 14317XBS4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    3750000 | PA      | $3500542.50    | 0.07%             | 2038-01-20      | Floating      | 8.62%                 | Yes           |                  3 | On Loan: No      |
| CGMS 2021-5                                                                                     | CGMS 2021-5A SUB                                                                                                              | CUSIP: 14318AAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     500000 | PA      | $208132.50     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2023-2                                                                                     | CGMS 2023-2A SUB                                                                                                              | CUSIP: 14318HAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    8376667 | PA      | $4681509.77    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2022-5                                                                                     | CGMS 2022-5A ER                                                                                                               | CUSIP: 14318NAG2<br>LEI: 549300FMPRIVFSDJTS63 | Long             | ABS-CBDO         | CORP              | KY        |    4190000 | PA      | $4100040.70    | 0.08%             | 2037-10-15      | Floating      | 10.77%                | Yes           |                  3 | On Loan: No      |
| CGMS 2024-3                                                                                     | CGMS 2024-3A E                                                                                                                | CUSIP: 14319JAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    3250000 | PA      | $3190778.50    | 0.06%             | 2036-07-25      | Floating      | 10.07%                | Yes           |                  3 | On Loan: No      |
| CGMS 2024-3                                                                                     | CGMS 2024-3A SUB                                                                                                              | CUSIP: 14319JAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3750000 | PA      | $1987125.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2024-5                                                                                     | CGMS 2024-5A E                                                                                                                | CUSIP: 14319LAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1500000 | PA      | $1470772.50    | 0.03%             | 2036-10-25      | Floating      | 9.32%                 | Yes           |                  3 | On Loan: No      |
| CGMS 2024-5                                                                                     | CGMS 2024-5A INC                                                                                                              | CUSIP: 14319MAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    2580000 | PA      | $1535556.66    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2023-5                                                                                     | CGMS 2023-5A SUB                                                                                                              | CUSIP: 14319NAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3080000 | PA      | $878141.88     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2025-5                                                                                     | CGMS 2025-5A SUB                                                                                                              | CUSIP: 14320KAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    7675000 | PA      | $6704381.13    | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Bellwether Buyer, L.L.C.                                                                        | Bellwether Buyer, L.L.C./Term Loan 04/25                                                                                      | CUSIP: 07989BAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    2097074 | PA      | $2097074.00    | 0.04%             | 2032-04-15      | Floating      | 8.18%                 | No            |                  3 | On Loan: No      |
| Bellwether Buyer, L.L.C.                                                                        | Bellwether Buyer, L.L.C./Revolver 04/25                                                                                       | CUSIP: 07989BAC9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     454240 | PA      | $454240.00     | 0.01%             | 2032-04-15      | Floating      | 8.18%                 | No            |                  3 | On Loan: No      |
| IRI Group Holdings, Inc.                                                                        | IRI Group Holdings, Inc./2025 Revolver 4/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1884646 | PA      | $1884646.00    | 0.04%             | 2028-12-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| IRI Group Holdings, Inc.                                                                        | IRI Group Holdings, Inc./2025 Term Loan 4/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   25698816 | PA      | $25698816.41   | 0.52%             | 2029-12-03      | Floating      | 7.95%                 | No            |                  3 | On Loan: No      |
| Bottomline Technologies, Inc. and Legal Spend Holdings, LLC                                     | Bottomline Technologies, Inc. and Legal Spend Holdings, LLC/2025-1 Refinancing Term Loan 4/25                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   19642889 | PA      | $19642889.19   | 0.40%             | 2029-05-14      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Agiliti Health, Inc.                                                                            | Agiliti Health, Inc./Term Loan 03/23                                                                                          | CUSIP: 00847YAE2<br>LEI: 25490002CCQ55NKGNB14 | Long             | LON              | CORP              | US        |    8331075 | PA      | $8081142.37    | 0.16%             | 2030-05-01      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| Continental Acquisition Holdings, Inc.                                                          | Continental Acquisition Holdings, Inc./2021-B Incremental Term Loan 12/21                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2385178 | PA      | $1287996.18    | 0.03%             | 2028-07-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| MRI Software LLC                                                                                | MRI Software LLC/Delayed Draw Term Loan 10/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     588183 | PA      | $582301.17     | 0.01%             | 2028-02-10      | Floating      | 8.46%                 | No            |                  3 | On Loan: No      |
| Cezanne Bidco                                                                                   | Cezanne Bidco/Incremental Acquisition/Capex Facility Notes 03/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    2466091 | PA      | $2850445.00    | 0.06%             | 2031-10-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Galway Borrower LLC                                                                             | Galway Borrower LLC/Refinancing Tranche B Term Loan 07/24                                                                     | CUSIP: 36457WAH4<br>LEI: 254900EKSXH6GINLK281 | Long             | LON              | CORP              | US        |   15467892 | PA      | $15313212.81   | 0.31%             | 2028-09-29      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Galway Borrower LLC                                                                             | Galway Borrower LLC/Refinancing Third Amendment Delayed Draw Term Loan 07/24                                                  | CUSIP: 36457WAJ0<br>LEI: 254900EKSXH6GINLK281 | Long             | LON              | CORP              | US        |     594213 | PA      | $588270.91     | 0.01%             | 2028-09-29      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Collision SP Subco, LLC                                                                         | Collision SP Subco, LLC/Term Loan 4/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      28308 | PA      | $28307.75      | 0.00%             | 2030-01-29      | Floating      | 8.46%                 | No            |                  3 | On Loan: No      |
| Rawlings Sporting Goods Company, Inc.                                                           | Rawlings Sporting Goods Company, Inc./Initial Term Loan 12/20                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4839462 | PA      | $4839461.73    | 0.10%             | 2030-11-26      | Floating      | 8.60%                 | No            |                  3 | On Loan: No      |
| Rawlings Sporting Goods Company, Inc.                                                           | Rawlings Sporting Goods Company, Inc./Revolving Loan 12/20                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3147347 | PA      | $3147346.89    | 0.06%             | 2029-11-26      | Floating      | 7.52%                 | No            |                  3 | On Loan: No      |
| GSV Purchaser, Inc.                                                                             | GSV Purchaser, Inc./Revolver 8/24                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1202333 | PA      | $1202332.89    | 0.02%             | 2030-08-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Florida Food Products, LLC                                                                      | Florida Food Products, LLC/FL1O Term Loan 9/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       5888 | PA      | $5770.59       | 0.00%             | 2030-10-15      | Floating      | 9.15%                 | No            |                  3 | On Loan: No      |
| Florida Food Products, LLC                                                                      | Florida Food Products, LLC/FL20 Term Loan 9/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      30513 | PA      | $21053.71      | 0.00%             | 2030-10-15      | Floating      | 8.76%                 | No            |                  3 | On Loan: No      |
| Florida Food Products, LLC                                                                      | Florida Food Products, LLC/FL30 Term Loan 9/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6149168 | PA      | $3689501.04    | 0.07%             | 2031-04-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CEDF 2021-14                                                                                    | CEDF 2021-14A SUB                                                                                                             | CUSIP: 15033GAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1450000 | PA      | $428203.85     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Automotive Keys Group, LLC                                                                      | Automotive Keys Group, LLC/2020 Incremental Term Loan 12/20                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     116692 | PA      | $102689.11     | 0.00%             | 2026-08-06      | Floating      | 10.35%                | No            |                  3 | On Loan: No      |
| Endeavor Bidco LLC                                                                              | Endeavor Bidco LLC/Tranche B Term Loan 8/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1058509 | PA      | $1058509.00    | 0.02%             | 2029-08-21      | Floating      | 7.92%                 | No            |                  3 | On Loan: No      |
| CPFTR 2025-1                                                                                    | CPFTR 2025-1                                                                                                                  | CUSIP: 15480EAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   18134810 | PA      | $18184290.61   | 0.37%             | 2026-07-29      | Fixed         | 8.38%                 | Yes           |                  3 | On Loan: No      |
| HP RSS Buyer, Inc.                                                                              | HP RSS Buyer, Inc./Term Loan 12/23                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1243284 | PA      | $1243284.01    | 0.03%             | 2029-12-11      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| HP RSS Buyer, Inc.                                                                              | HP RSS Buyer, Inc./Special Purpose DDTL 12/23                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     265740 | PA      | $265739.72     | 0.01%             | 2029-12-11      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| HP RSS Buyer, Inc.                                                                              | HP RSS Buyer, Inc./General Purpose DDTL 12/23                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     800115 | PA      | $800114.87     | 0.02%             | 2029-12-11      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| United Digestive MSO Parent, LLC                                                                | United Digestive MSO Parent, LLC/Term Loan B 03/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3082022 | PA      | $3082021.72    | 0.06%             | 2029-03-30      | Floating      | 9.44%                 | No            |                  3 | On Loan: No      |
| United Digestive MSO Parent, LLC                                                                | United Digestive MSO Parent, LLC/Delayed Draw Term Loan 03/23                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     831434 | PA      | $831433.99     | 0.02%             | 2029-03-30      | Floating      | 9.44%                 | No            |                  3 | On Loan: No      |
| United Digestive MSO Parent, LLC                                                                | United Digestive MSO Parent, LLC/Revolver 03/23                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     168162 | PA      | $168162.00     | 0.00%             | 2029-03-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Calabrio, Inc.                                                                                  | Calabrio, Inc./Term Loan B 09/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4871579 | PA      | $3787652.62    | 0.08%             | 2032-11-26      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| Pegasus (Bidco) Limited                                                                         | Pegasus (Bidco) Limited / Capex / Acquisition Facility                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |     821596 | PA      | $1087457.96    | 0.02%             | 2029-04-04      | Floating      | 10.81%                | No            |                  3 | On Loan: No      |
| Family First Bidco Limited                                                                      | Family First Bidco Limited/Loan Notes 12/22                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      30467 | PA      | $40326.00      | 0.00%             | 2029-12-31      | Floating      | 12.50%                | Yes           |                  3 | On Loan: No      |
| ExtraHop Networks, Inc.                                                                         | ExtraHop Networks, Inc./2023 Incremental Last Out Term Loan 03/23                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     377638 | PA      | $373861.93     | 0.01%             | 2027-07-22      | Floating      | 10.27%                | No            |                  3 | On Loan: No      |
| GSV Purchaser, Inc.                                                                             | GSV Purchaser, Inc./Delayed Draw Term Loan 8/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2314974 | PA      | $2314973.56    | 0.05%             | 2031-08-01      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| HH-Stella, Inc.                                                                                 | HH-Stella, Inc./2023 DDTL A 9/23                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     902723 | PA      | $902722.65     | 0.02%             | 2028-04-24      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Project Cardinal Acquisition, LLC                                                               | Project Cardinal Acquisition, LLC/ Delayed Draw Term Loan 9/25                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     145849 | PA      | $145119.76     | 0.00%             | 2032-10-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| AP Adhesives Holdings, LLC                                                                      | AP Adhesives Holdings, LLC/Delayed Draw Term Loan 4/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1209848 | PA      | $1197749.21    | 0.02%             | 2032-04-09      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| AP Adhesives Holdings, LLC                                                                      | AP Adhesives Holdings, LLC/Term Loan 4/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3620470 | PA      | $3584265.48    | 0.07%             | 2032-04-09      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| AP Adhesives Holdings, LLC                                                                      | AP Adhesives Holdings, LLC/Revolver 4/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     628669 | PA      | $622382.07     | 0.01%             | 2031-04-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BigHand UK Bidco Limited                                                                        | BigHand UK Bidco Limited/Additional Term Facility 04/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     243972 | PA      | $322919.21     | 0.01%             | 2030-06-25      | Floating      | 9.71%                 | No            |                  3 | On Loan: No      |
| Sundance Group Holdings, Inc.                                                                   | Sundance Group Holdings, Inc./ Incremental Term Loan-A 1/26                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1231842 | PA      | $1219523.58    | 0.02%             | 2029-07-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Saldon Holdings, Inc.                                                                           | Saldon Holdings, Inc./Term Loan 3/19                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3344587 | PA      | $3344586.68    | 0.07%             | 2028-03-13      | Floating      | 9.02%                 | No            |                  3 | On Loan: No      |
| Saldon Holdings, Inc.                                                                           | Saldon Holdings, Inc./Revolver 3/19                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     567187 | PA      | $567187.38     | 0.01%             | 2028-03-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Shur-Co Acquisition, Inc.                                                                       | Shur-Co Acquisition, Inc./Third Amendment Incremental Term Loan 3/23                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     541826 | PA      | $541826.43     | 0.01%             | 2030-07-01      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Demakes Borrower, LLC                                                                           | Demakes Borrower, LLC/Term Loan B 12/23                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     939249 | PA      | $939248.68     | 0.02%             | 2029-12-12      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Monica Holdco (US), Inc.                                                                        | Monica Holdco (US), Inc./Initial Term Loan 01/21                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7838803 | PA      | $7838802.77    | 0.16%             | 2030-07-12      | Floating      | 9.10%                 | No            |                  3 | On Loan: No      |
| Monica Holdco (US), Inc.                                                                        | Monica Holdco (US), Inc./Revolving Credit Loan 01/21                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2347470 | PA      | $2347470.00    | 0.05%             | 2030-07-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Waverly Advisors, LLC                                                                           | Waverly Advisors, LLC/k/a WA Asset Management, LLC)/Delayed Draw Term Loan C 1/25                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5844237 | PA      | $5844237.36    | 0.12%             | 2028-03-01      | Floating      | 8.85%                 | No            |                  3 | On Loan: No      |
| CC Globe Holding II A/S                                                                         | CC Globe Holding II A / S/Facility A 03/22                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |   22526967 | PA      | $2388259.45    | 0.05%             | 2028-03-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Beacon Pointe Harmony, LLC                                                                      | Beacon Pointe Harmony, LLC/Revolver Loan 12/21                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     909393 | PA      | $909393.00     | 0.02%             | 2027-12-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Beacon Pointe Harmony, LLC                                                                      | Beacon Pointe Harmony, LLC/Initial Term Loan 12/21                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5908684 | PA      | $5908683.55    | 0.12%             | 2028-12-29      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Beacon Pointe Harmony, LLC                                                                      | Beacon Pointe Harmony, LLC/Delayed Draw Term Loan 12/21                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2317617 | PA      | $2317616.97    | 0.05%             | 2028-12-29      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| TCP Hawker Intermediate LLC                                                                     | TCP Hawker Intermediate LLC/First Tranche Revolver 11/24                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3383992 | PA      | $3316312.10    | 0.07%             | 2029-08-30      | Floating      | 7.45%                 | No            |                  3 | On Loan: No      |
| CIFC 2024-4                                                                                     | CIFC 2024-4A SUB                                                                                                              | CUSIP: 17181XAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3570000 | PA      | $2445264.36    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TCP Hawker Intermediate LLC                                                                     | TCP Hawker Intermediate LLC/Ninth Amendment Incremental Term Loan 11/24                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     542249 | PA      | $531403.77     | 0.01%             | 2029-08-30      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| TCP Hawker Intermediate LLC                                                                     | TCP Hawker Intermediate LLC/Ninth Amendment DDTL 11/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2381579 | PA      | $2333947.42    | 0.05%             | 2029-08-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ASP-r-pac Acquisition Co LLC                                                                    | ASP-r-pac Acquisition Co LLC/Initial Term Loan 12/21                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6010084 | PA      | $5829781.87    | 0.12%             | 2027-12-29      | Floating      | 9.93%                 | No            |                  3 | On Loan: No      |
| ASP-r-pac Acquisition Co LLC                                                                    | ASP-r-pac Acquisition Co LLC/Initial Revolving Loan 12/21                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     839233 | PA      | $814056.10     | 0.02%             | 2027-12-29      | Floating      | 9.78%                 | No            |                  3 | On Loan: No      |
| Prime Dental Alliance B.V.                                                                      | Prime Dental Alliance B.V./Facility B Tranche-2 EUR Commitment 05/22                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    2200369 | PA      | $2543308.76    | 0.05%             | 2027-06-21      | Floating      | 9.63%                 | No            |                  3 | On Loan: No      |
| Helix Acquisition Holdings, Inc.                                                                | Helix Acquisition Holdings, Inc./Initial Term Loan 03/23                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     472955 | PA      | $472955.07     | 0.01%             | 2030-03-29      | Floating      | 10.77%                | No            |                  3 | On Loan: No      |
| Radiant Intermediate Holding, LLC                                                               | Radiant Intermediate Holding, LLC/Amendment No. 5 Term Loan 03/23                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     502623 | PA      | $497596.74     | 0.01%             | 2026-11-23      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| Skyliner BIS S.A R.L.                                                                           | Skyliner BIS S.A R.L./Acquisition Facility 9/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |     174672 | PA      | $201896.18     | 0.00%             | 2031-09-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Skyliner BIS S.A R.L.                                                                           | Skyliner BIS S.A R.L./Facility B 9/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    1426906 | PA      | $1649297.46    | 0.03%             | 2031-09-29      | Floating      | 8.41%                 | No            |                  3 | On Loan: No      |
| AX VI INV3 Holding AB                                                                           | AX VI INV3 Holding AB/Capex Facility 01/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |   28240758 | PA      | $2983183.91    | 0.06%             | 2031-08-13      | Floating      | 7.74%                 | No            |                  3 | On Loan: No      |
| Royal Borrower, LLC                                                                             | Royal Borrower, LLC/Revolver 7/24                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     805329 | PA      | $805329.00     | 0.02%             | 2030-07-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Enviva Inc.                                                                                     | Enviva Inc./Exit Term Loan 10/24                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   40300917 | PA      | $40502421.49   | 0.82%             | 2029-12-06      | Floating      | 10.54%                | No            |                  2 | On Loan: No      |
| Vulcan UK Bidco Limited                                                                         | Vulcan UK Bidco Limited/ Term Facility 04/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     700000 | PA      | $700000.00     | 0.01%             | 2032-05-10      | Floating      | 8.88%                 | No            |                  3 | On Loan: No      |
| Marcone Yellowstone Buyer Inc.                                                                  | Marcone Yellowstone Buyer Inc./First Amendment Incremental Term Loan 12/21                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2430915 | PA      | $1969041.52    | 0.04%             | 2028-06-23      | Floating      | 7.56%                 | No            |                  3 | On Loan: No      |
| Inspiring Generations B.V.                                                                      | Inspiring Generations B.V./ Acquisition/ Capex Facility Tranche C2 07/25                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     443811 | PA      | $512981.41     | 0.01%             | 2032-07-15      | Floating      | 7.38%                 | No            |                  3 | On Loan: No      |
| Marcone Yellowstone Buyer Inc.                                                                  | Marcone Yellowstone Buyer Inc./First Amendment Incremental Delayed Term Loan 12/21                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     782689 | PA      | $633978.03     | 0.01%             | 2028-06-23      | Floating      | 7.56%                 | No            |                  3 | On Loan: No      |
| CLRMPK 2025-1                                                                                   | CLRMPK 2025-1A SUB                                                                                                            | CUSIP: 185836AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   12479000 | PA      | $7075493.17    | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CLRMPK 2025-1                                                                                   | CLRMPK 2025-1A M                                                                                                              | CUSIP: 185836AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   12479000 | PA      | $365410.08     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Divisions Holding Corporation                                                                   | Divisions Holding Corporation/Term B Loan 4/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1391268 | PA      | $1391268.11    | 0.03%             | 2032-04-19      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Divisions Holding Corporation                                                                   | Divisions Holding Corporation/Revolver 4/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      98552 | PA      | $98552.00      | 0.00%             | 2032-04-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Modernizing Medicine, Inc.                                                                      | Modernizing Medicine, Inc./Revolver 4/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2110505 | PA      | $2110505.00    | 0.04%             | 2032-04-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Modernizing Medicine, Inc.                                                                      | Modernizing Medicine, Inc./Initial Term Loan 4/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   22895344 | PA      | $22895343.85   | 0.46%             | 2032-04-30      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Cloud Software Group, Inc.                                                                      | TIBX 9.0% 2nd lien Nts due 2029 144A                                                                                          | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     100000 | PA      | $96019.25      | 0.00%             | 2029-09-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                                      | TIBX 8.25% 1st lien Nts due 2032 144A                                                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    3400000 | PA      | $3215798.06    | 0.07%             | 2032-06-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Safe Home Security, Inc.                                                                        | Safe Home Security, Inc./Delayed Draw Term Loan  8/20                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      53025 | PA      | $51964.57      | 0.00%             | 2026-12-31      | Floating      | 9.78%                 | No            |                  3 | On Loan: No      |
| AeriTek Global US Acquisition Inc.                                                              | AeriTek Global US Acquisition Inc./ AeriTek Global US Acquisition Inc./ New Incremental Term Loan 3/26                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      94888 | PA      | $94888.00      | 0.00%             | 2030-08-27      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| Sunbit Receivables Trust IV                                                                     | Sunbit Receivables Trust IV/ Class B Revolver 04/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5060000 | PA      | $5060000.00    | 0.10%             | 2029-04-23      | Floating      | 10.67%                | No            |                  3 | On Loan: No      |
| Sundance Group Holdings, Inc.                                                                   | Sundance Group Holdings, Inc./Term Loan 9/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2553264 | PA      | $2527731.72    | 0.05%             | 2029-07-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Sundance Group Holdings, Inc.                                                                   | Sundance Group Holdings, Inc./Revolver 9/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     183425 | PA      | $181590.75     | 0.00%             | 2029-07-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| RMS Holdco II, LLC                                                                              | RMS Holdco II, LLC/Revolving Loan 11/21                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     883035 | PA      | $838883.59     | 0.02%             | 2029-06-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| WU Holdco, Inc.                                                                                 | WU Holdco, Inc./Revolver 4/25                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     131621 | PA      | $131621.00     | 0.00%             | 2032-04-19      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| WU Holdco, Inc.                                                                                 | WU Holdco, Inc./Term Loan 4/25                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1463376 | PA      | $1463376.39    | 0.03%             | 2032-04-19      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| WU Holdco, Inc.                                                                                 | WU Holdco, Inc./Delayed Draw Term Loan 4/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     356848 | PA      | $356848.00     | 0.01%             | 2032-04-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Infinity Home Services HoldCo, Inc.                                                             | Infinity Home Services HoldCo, Inc./CAD Revolver 11/23                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $718.86        | 0.00%             | 2028-12-28      | Floating      | 7.33%                 | No            |                  3 | On Loan: No      |
| Excelitas Technologies Corp.                                                                    | Excelitas Technologies Corp./Second Amendment DDTL 5/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2091578 | PA      | $2091578.00    | 0.04%             | 2029-08-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BCTO Ignition Purchaser, Inc.                                                                   | BCTO Ignition Purchaser, Inc./Term Loan 04/23                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1131574 | PA      | $1131574.39    | 0.02%             | 2030-10-18      | Floating      | 11.17%                | No            |                  3 | On Loan: No      |
| PCMI Parent, LLC                                                                                | PCMI Parent, LLC/Amendment No. 1 Term Loan 10/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     221276 | PA      | $221276.42     | 0.00%             | 2032-03-15      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| BSP 2023-32                                                                                     | BSP 2023-32A SUB                                                                                                              | CUSIP: 08181GAC2<br>LEI: 2549003NV71H6I4TDQ63 | Long             | ABS-O            | CORP              | JE        |     740000 | PA      | $563265.06     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Triple JJJ Lube, Corp.                                                                          | Triple JJJ Lube, Corp./ Senior Secured Term Loan 1/26                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1211115 | PA      | $1211115.00    | 0.02%             | 2032-01-26      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| Premiere Buyer, LLC                                                                             | Premiere Buyer, LLC/Amendment Upsize Delayed Draw Term Loan 4/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     149598 | PA      | $149598.25     | 0.00%             | 2031-05-01      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Premiere Buyer, LLC                                                                             | Premiere Buyer, LLC/Delayed Draw Term Loan 4/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     321040 | PA      | $321040.00     | 0.01%             | 2031-05-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Beacon Pointe Harmony, LLC                                                                      | Beacon Pointe Harmony, LLC/ Amendment No. 4 Delayed Draw Term Loan 10/25                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     355217 | PA      | $355217.00     | 0.01%             | 2028-12-29      | Floating      | 8.18%                 | No            |                  3 | On Loan: No      |
| Banyan Software Holdings, LLC                                                                   | Banyan Software Holdings, LLC/Amendment No. 2 Delayed Draw Term Loan 10/25                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   17792207 | PA      | $17792206.86   | 0.36%             | 2031-01-02      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Kings Buyer, LLC                                                                                | Kings Buyer, LLC/Second Amendment Term Loan 10/21                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3359034 | PA      | $3123901.74    | 0.06%             | 2027-10-29      | Floating      | 9.05%                 | No            |                  3 | On Loan: No      |
| Artemis BidCo 2 LLC                                                                             | Artemis BidCo 2 LLC/Initial Term Loan 10/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     697243 | PA      | $690270.57     | 0.01%             | 2031-10-22      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Artemis BidCo 2 LLC                                                                             | Artemis BidCo 2 LLC/Delayed Draw Term Loan 10/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     193676 | PA      | $192707.62     | 0.00%             | 2031-10-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Artemis BidCo 2 LLC                                                                             | Artemis BidCo 2 LLC/Revolver 10/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $990.00        | 0.00%             | 2031-10-22      | Floating      | 7.45%                 | No            |                  3 | On Loan: No      |
| GS SEER Group Borrower LLC                                                                      | GS SEER Group Borrower LLC/Delayed Term Loan 04/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     135819 | PA      | $126311.59     | 0.00%             | 2030-04-29      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| The Mather Group, LLC                                                                           | The Mather Group, LLC/Third Amendment Incremental Term Loan 5/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     797239 | PA      | $797238.78     | 0.02%             | 2028-03-31      | Floating      | 9.35%                 | No            |                  3 | On Loan: No      |
| Fertitta Entertainment, LLC                                                                     | Fertitta Entertainment, LLC/Term Loan B 01/22                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5224184 | PA      | $5115155.68    | 0.10%             | 2029-01-27      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| LJ Perimeter Buyer, Inc.                                                                        | LJ Perimeter Buyer, Inc./Delay Draw Term Loan 10/22                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     408314 | PA      | $404230.87     | 0.01%             | 2028-10-31      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| DOXA Insurance Holdings LLC                                                                     | DOXA Insurance Holdings LLC/Initial Term Loan 12/23                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1316978 | PA      | $1316977.76    | 0.03%             | 2030-12-20      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| DOXA Insurance Holdings LLC                                                                     | DOXA Insurance Holdings LLC/Delayed Draw Term Loan 12/23                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1252532 | PA      | $1252532.03    | 0.03%             | 2030-12-20      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| DOXA Insurance Holdings LLC                                                                     | DOXA Insurance Holdings LLC/Revolving Credit 12/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     210412 | PA      | $210412.00     | 0.00%             | 2029-12-20      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Activate holdings (US) Corp.                                                                    | Activate holdings (US) Corp./2024 Term Loan 9/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2396704 | PA      | $2396703.92    | 0.05%             | 2030-07-29      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| eCapital Finance Corp.                                                                          | eCapital Finance Corp./Incremental Term Loan 1/22                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    9207939 | PA      | $9115859.61    | 0.19%             | 2029-09-29      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| PSC Parent, Inc.                                                                                | PSC Parent, Inc./Revolver 4/24                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     992876 | PA      | $992876.00     | 0.02%             | 2030-04-03      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Leviathan Intermediate Holdco, LLC                                                              | Leviathan Intermediate Holdco, LLC/Term Loan 12/22                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1291194 | PA      | $1291193.76    | 0.03%             | 2027-12-27      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Worldwide Produce Acquisition, LLC                                                              | Worldwide Produce Acquisition, LLC/Tranche A DDTL 01/23                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      28810 | PA      | $25065.00      | 0.00%             | 2029-01-18      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| ECG Bidco S.A.S.                                                                                | ECG Bidco S.A.S./CAR Facility 3 (EUR) 02/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |   17735849 | PA      | $20500079.75   | 0.42%             | 2029-05-31      | Floating      | 7.35%                 | No            |                  3 | On Loan: No      |
| GS SEER Group Borrower LLC                                                                      | GS SEER Group Borrower LLC/Term Loan 04/23                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     317545 | PA      | $295316.66     | 0.01%             | 2030-04-29      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| Galaxy Buyer, Inc.                                                                              | Galaxy Buyer, Inc./ Delayed Draw Term Loan 1/26                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     557369 | PA      | $554582.16     | 0.01%             | 2033-01-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Galaxy Buyer, Inc.                                                                              | Galaxy Buyer, Inc./ PIK Delayed Draw Term Loan 1/26                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      68790 | PA      | $68102.10      | 0.00%             | 2033-01-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Repairify, Inc.                                                                                 | Repairify, Inc./Amendment No. 5 Incremental Term Loan 5/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     552719 | PA      | $552718.52     | 0.01%             | 2027-06-14      | Floating      | 9.12%                 | No            |                  3 | On Loan: No      |
| Empower Payments Investor, LLC                                                                  | Empower Payments Investor, LLC/ Incremental Delayed Draw Term Loan 10/25                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      78086 | PA      | $78086.00      | 0.00%             | 2031-03-12      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| Empower Payments Investor, LLC                                                                  | Empower Payments Investor, LLC/ Incremental Term Loan 10/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     259636 | PA      | $259636.28     | 0.01%             | 2031-03-12      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Medlar Bidco Limited                                                                            | Medlar Bidco Limited/Facility B (EUR) 12/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    5394508 | PA      | $6235272.38    | 0.13%             | 2032-05-07      | Floating      | 6.52%                 | No            |                  3 | On Loan: No      |
| Steward Partners Global Advisory, LLC                                                           | Steward Partners Global Advisory, LLC/Revolving Loan 10/22                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      85756 | PA      | $85756.00      | 0.00%             | 2028-10-14      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Laboratories Bidco LLC                                                                          | Laboratories Bidco LLC/Term Loan 9/19                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1971554 | PA      | $1518096.92    | 0.03%             | 2029-07-23      | Floating      | 5.60%                 | No            |                  3 | On Loan: No      |
| MARI EVENTS MIDCO LLC                                                                           | MARI EVENTS MIDCO LLC/Initial Term Loan 10/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      40880 | PA      | $40061.91      | 0.00%             | 2032-10-01      | Floating      | 7.70%                 | No            |                  3 | On Loan: No      |
| MARI EVENTS MIDCO LLC                                                                           | MARI EVENTS MIDCO LLC/Delayed Draw Term Loan 10/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      40880 | PA      | $40061.91      | 0.00%             | 2032-10-01      | Floating      | 7.70%                 | No            |                  3 | On Loan: No      |
| Laboratories Bidco LLC                                                                          | Laboratories Bidco LLC/CAD Term Loan 9/19                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1848826 | PA      | $1023359.98    | 0.02%             | 2029-07-23      | Floating      | 4.08%                 | No            |                  3 | On Loan: No      |
| UFS, LLC                                                                                        | UFS, LLC/ Initial Term Loan 10/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1404200 | PA      | $1390158.00    | 0.03%             | 2031-10-14      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| UFS, LLC                                                                                        | UFS, LLC/ Revolver 10/25                                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     105249 | PA      | $104196.51     | 0.00%             | 2031-10-14      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Steward Partners Global Advisory, LLC                                                           | Steward Partners Global Advisory, LLC/Incremental Delayed Draw Term Loan 12/23                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     578105 | PA      | $578105.28     | 0.01%             | 2028-10-16      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Three Rivers Buyer, Inc.                                                                        | Three Rivers Buyer, Inc./ Revolver 11/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      78699 | PA      | $77715.26      | 0.00%             | 2031-11-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Retained Vantage Data Centers Intermediate Holdco, L.P_Retained Vantage Data Centers Assets, LP | Retained Vantage Data Centers Intermediate Holdco, L.P_Retained Vantage Data Centers Assets, LP/ Closing Date Term Loan 12/25 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   16253125 | PA      | $15968695.31   | 0.32%             | 2031-12-05      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| Retained Vantage Data Centers Intermediate Holdco, L.P_Retained Vantage Data Centers Assets, LP | Retained Vantage Data Centers Intermediate Holdco, L.P_Retained Vantage Data Centers Assets, LP/ Delayed Draw Term Loan 12/25 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   61761875 | PA      | $60681042.19   | 1.23%             | 2031-12-05      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| Three Rivers Buyer, Inc.                                                                        | Three Rivers Buyer, Inc./ Tranche B Term Loan 11/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     239377 | PA      | $236384.79     | 0.00%             | 2031-11-03      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Professional Fighters League, LLC                                                               | Professional Fighters League, LLC/1st Lien Term Loan 1/26                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     474746 | PA      | $474745.54     | 0.01%             | 2029-01-19      | Floating      | 14.00%                | No            |                  3 | On Loan: No      |
| Apple Bidco Holdings, Inc.                                                                      | Apple Bidco Holdings, Inc./ Term Loan 1/26                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3401235 | PA      | $3299197.95    | 0.07%             | 2033-01-24      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Apple Bidco Holdings, Inc.                                                                      | Apple Bidco Holdings, Inc./ Delayed Draw Term Loan 1/26                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1017464 | PA      | $986940.08     | 0.02%             | 2033-01-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Apple Bidco Holdings, Inc.                                                                      | Apple Bidco Holdings, Inc./ Revolver 1/26                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     653071 | PA      | $633478.87     | 0.01%             | 2033-01-24      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| athenahealth Group Inc.                                                                         | athenahealth Group Inc./Term Loan B 01/22                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   10262470 | PA      | $10057220.30   | 0.20%             | 2029-02-15      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Hg Saturn 2 SumoCo Limited                                                                      | Hg Saturn 2 SumoCo Limited/ Term Loan 1/22                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GG        |   20657169 | PA      | $20657168.81   | 0.42%             | 2029-01-19      | Floating      | 10.67%                | No            |                  3 | On Loan: No      |
| Lightbeam Bidco, Inc.                                                                           | Lightbeam Bidco, Inc./Term Loan 05/23                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1108853 | PA      | $1108852.54    | 0.02%             | 2030-05-06      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Lightbeam Bidco, Inc.                                                                           | Lightbeam Bidco, Inc./Delayed Draw Term Loan 05/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     168008 | PA      | $168007.79     | 0.00%             | 2030-05-06      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Lightbeam Bidco, Inc.                                                                           | Lightbeam Bidco, Inc./Revolver 05/23                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $1000.00       | 0.00%             | 2029-05-04      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Steward Partners Global Advisory, LLC                                                           | Steward Partners Global Advisory, LLC/Incremental Term Loan B 12/23                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     380693 | PA      | $380692.76     | 0.01%             | 2028-10-16      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Northwinds Holding, Inc.                                                                        | Northwinds Holding, Inc./Initial Term Loan 05/23                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4188343 | PA      | $4188342.60    | 0.09%             | 2029-05-01      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| Northwinds Holding, Inc.                                                                        | Northwinds Holding, Inc./Revolver 05/23                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     964556 | PA      | $964556.00     | 0.02%             | 2029-05-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Northwinds Holding, Inc.                                                                        | Northwinds Holding, Inc./2023-1 Delayed Draw Term Loan 05/23                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     928893 | PA      | $928893.25     | 0.02%             | 2029-05-01      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| Northwinds Holding, Inc.                                                                        | Northwinds Holding, Inc./2023-2 Delayed Draw Term Loan 05/23                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1901412 | PA      | $1901412.12    | 0.04%             | 2029-05-01      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| Lucida Broking Holdings Limited                                                                 | Lucida Broking Holdings Limited/Incremental Facility 03/21                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     577698 | PA      | $673617.02     | 0.01%             | 2026-06-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| PCMI Parent, LLC                                                                                | PCMI Parent, LLC/Initial Term Loan 3/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3009482 | PA      | $3009481.98    | 0.06%             | 2032-03-15      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Avaya Inc.                                                                                      | Avaya Inc./New Money Term Loan Exit 04/23                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     462336 | PA      | $409939.63     | 0.01%             | 2028-08-01      | Floating      | 11.17%                | No            |                  2 | On Loan: No      |
| Mr. Greens Intermediate, LLC                                                                    | Mr. Greens Intermediate, LLC/Initial Term Loan 05/23                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2262216 | PA      | $2262216.18    | 0.05%             | 2031-05-01      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| Mr. Greens Intermediate, LLC                                                                    | Mr. Greens Intermediate, LLC/Delayed Draw Term Loan 05/23                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     968827 | PA      | $968826.65     | 0.02%             | 2031-05-01      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| Mr. Greens Intermediate, LLC                                                                    | Mr. Greens Intermediate, LLC/Revolver 05/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     146012 | PA      | $146012.00     | 0.00%             | 2031-05-01      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| CPIG Holdco Inc.                                                                                | CPIG Holdco Inc./Initial Term Loan 04/23                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3776021 | PA      | $3776020.95    | 0.08%             | 2028-04-28      | Floating      | 10.76%                | No            |                  3 | On Loan: No      |
| CPIG Holdco Inc.                                                                                | CPIG Holdco Inc./Revolver 04/23                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $1000.00       | 0.00%             | 2028-04-28      | Floating      | 8.51%                 | No            |                  3 | On Loan: No      |
| Galway Borrower LLC                                                                             | Galway Borrower LLC/Refinancing Second Amendment Delayed Draw Term Loan 09/21                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     178773 | PA      | $176985.27     | 0.00%             | 2028-09-29      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Production Resource Group, L.L.C.                                                               | Production Resource Group, L.L.C./ First Amendment Incremental Term Loan 1/26                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      50576 | PA      | $50576.00      | 0.00%             | 2030-10-10      | Floating      | 11.32%                | No            |                  3 | On Loan: No      |
| Network Bidco B.V.                                                                              | Network Bidco B.V./Acquisition/Capex Facility Tranche 2 04/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1761905 | PA      | $2036507.70    | 0.04%             | 2031-05-12      | Floating      | 7.13%                 | No            |                  3 | On Loan: No      |
| Production Resource Group, L.L.C.                                                               | Production Resource Group, L.L.C./Tranche A Term Loan 10/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      53049 | PA      | $53048.67      | 0.00%             | 2030-10-10      | Floating      | 11.32%                | No            |                  3 | On Loan: No      |
| Maltese Bidco 1 Limited                                                                         | Maltese Bidco 1 Limited/EUR Unitranche Term Loan 01/22                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3600000 | PA      | $4161080.03    | 0.08%             | 2029-02-14      | Floating      | 8.64%                 | No            |                  3 | On Loan: No      |
| Foundation Consumer Brands, LLC                                                                 | Foundation Consumer Brands, LLC/Refinancing Term Loan 02/21                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7078300 | PA      | $7078300.09    | 0.14%             | 2029-02-12      | Floating      | 8.80%                 | No            |                  3 | On Loan: No      |
| Foundation Consumer Brands, LLC                                                                 | Foundation Consumer Brands, LLC/Refinancing Revolving Loan 02/21                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     788328 | PA      | $788327.57     | 0.02%             | 2029-02-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| W.S. Connelly & Co., LLC                                                                        | W.S. Connelly & Co., LLC/Amendment No. 1 Delayed Draw Term Loan 4/25                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1185375 | PA      | $1185375.10    | 0.02%             | 2030-05-24      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Lucida Broking Holdings Limited                                                                 | Lucida Broking Holdings Limited/GBP Facility B 6/18                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     899346 | PA      | $1048669.29    | 0.02%             | 2026-06-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Guidepoint Security Holdings, LLC                                                               | Guidepoint Security Holdings, LLC/2025 Second Amendment Term Loan 10/25                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     199247 | PA      | $199247.00     | 0.00%             | 2029-10-02      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Semper Holding BV                                                                               | Semper Holding BV/Facility B1 01/22                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    7500000 | PA      | $8668916.73    | 0.18%             | 2031-02-10      | Floating      | 7.95%                 | No            |                  3 | On Loan: No      |
| Central Parent Inc.                                                                             | Central Parent Inc./Term Loan B 05/24                                                                                         | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   14190169 | PA      | $10076297.30   | 0.20%             | 2029-07-06      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| Nordic Ferry Infrastructure AS                                                                  | Nordic Ferry Infrastructure AS/Facility B1 NOK Commitment 10/24                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NO        |  207385175 | PA      | $21417671.92   | 0.43%             | 2031-11-28      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| Cezanne Bidco                                                                                   | Cezanne Bidco/Acquisition/Capex Notes Facility 10/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    2457002 | PA      | $2839939.43    | 0.06%             | 2031-10-30      | Floating      | 7.05%                 | No            |                  3 | On Loan: No      |
| Confirmasoft AB                                                                                 | Confirmasoft AB/Acquisition Facility 3 06/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    1441955 | PA      | $1666691.71    | 0.03%             | 2027-06-03      | Floating      | 7.97%                 | No            |                  3 | On Loan: No      |
| Smarsh Inc.                                                                                     | Smarsh Inc./Delayed Draw Term Loan 2/22                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     445100 | PA      | $440648.51     | 0.01%             | 2029-02-16      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Smarsh Inc.                                                                                     | Smarsh Inc./Revolver 2/22                                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     679626 | PA      | $672829.74     | 0.01%             | 2029-02-16      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Cards-Live Oak Holdings, Inc.                                                                   | Cards-Live Oak Holdings, Inc./Initial Term Loan 10/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   12052198 | PA      | $11931676.02   | 0.24%             | 2032-10-21      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Flywheel Acquireco, Inc.                                                                        | Flywheel Acquireco, Inc./Term Loans 05/23                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   13472017 | PA      | $13472016.69   | 0.27%             | 2030-05-13      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| DCLO 2025-9                                                                                     | DCLO 2025-9A SUB                                                                                                              | CUSIP: 25254BAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1120000 | PA      | $836071.04     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DCLO 2021-1                                                                                     | DCLO 2021-1A SUB                                                                                                              | CUSIP: 25255FAC9<br>LEI: 25490018I1ROE4V49X69 | Long             | ABS-O            | CORP              | KY        |    1445000 | PA      | $1067648.37    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Flywheel Acquireco, Inc.                                                                        | Flywheel Acquireco, Inc./Revolver 05/23                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1664441 | PA      | $1664441.00    | 0.03%             | 2028-05-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Cards-Live Oak Holdings, Inc.                                                                   | Cards-Live Oak Holdings, Inc./Delayed Draw Term Loan 10/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4782618 | PA      | $4750096.20    | 0.10%             | 2032-10-21      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Cards-Live Oak Holdings, Inc.                                                                   | Cards-Live Oak Holdings, Inc./Revolver 10/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2668934 | PA      | $2642244.66    | 0.05%             | 2032-10-21      | Floating      | 10.50%                | No            |                  3 | On Loan: No      |
| Aptean Acquiror Inc.                                                                            | Aptean Acquiror Inc./Term Loan 1/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4382111 | PA      | $4338289.65    | 0.09%             | 2031-01-30      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Aptean Acquiror Inc.                                                                            | Aptean Acquiror Inc./Revolver 1/24                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     372521 | PA      | $368795.79     | 0.01%             | 2031-01-30      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| LivTech Purchaser, Inc.                                                                         | LivTech Purchaser, Inc./Delayed Draw Term Loan 11/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1474337 | PA      | $1459593.63    | 0.03%             | 2031-11-24      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Essential Services Holding Corporation                                                          | Essential Services Holding Corporation/Revolver 6/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2611562 | PA      | $2507099.52    | 0.05%             | 2030-06-17      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| Pathstone Family Office LLC                                                                     | Pathstone Family Office LLC/Initial Term Loans 5/23                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     969743 | PA      | $969742.62     | 0.02%             | 2029-05-15      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| Pathstone Family Office LLC                                                                     | Pathstone Family Office LLC/Delayed Draw Term Loan 5/23                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     254070 | PA      | $254069.86     | 0.01%             | 2029-05-15      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| ZocDoc, Inc.                                                                                    | ZocDoc, Inc./Term Loan 5/24                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2393877 | PA      | $2393877.29    | 0.05%             | 2030-07-31      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| HuFriedy Group Acquisition LLC                                                                  | HuFriedy Group Acquisition LLC/Revolver 5/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2102377 | PA      | $2102377.00    | 0.04%             | 2030-05-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Roman New Bidco Limited                                                                         | Roman New Bidco Limited/Facility B2 05/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     994319 | PA      | $1316072.37    | 0.03%             | 2028-12-29      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| HuFriedy Group Acquisition LLC                                                                  | HuFriedy Group Acquisition LLC/Initial Term Loan 5/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   19003386 | PA      | $19003386.31   | 0.39%             | 2031-05-30      | Floating      | 9.18%                 | No            |                  3 | On Loan: No      |
| HuFriedy Group Acquisition LLC                                                                  | HuFriedy Group Acquisition LLC/Delayed Draw Term Loan 5/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4169539 | PA      | $4169539.19    | 0.08%             | 2031-05-30      | Floating      | 9.18%                 | No            |                  3 | On Loan: No      |
| Quick Quack Car Wash Holdings, LLC                                                              | Quick Quack Car Wash Holdings, LLC/Initial Term Loan 6/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2210540 | PA      | $2210540.47    | 0.04%             | 2031-06-10      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Essential Services Holding Corporation                                                          | Essential Services Holding Corporation/Delayed Draw Term Loan 6/24                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4178524 | PA      | $4011383.04    | 0.08%             | 2031-06-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Spindrift Beverage Co., Inc.                                                                    | Spindrift Beverage Co., Inc./Term Loan 2/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1736959 | PA      | $1736959.00    | 0.04%             | 2032-02-19      | Floating      | 8.65%                 | No            |                  3 | On Loan: No      |
| Spruce Bidco II Inc.                                                                            | Spruce Bidco II Inc./Revolver 1/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   11656836 | PA      | $11656836.00   | 0.24%             | 2032-01-30      | Floating      | 8.37%                 | No            |                  3 | On Loan: No      |
| Clearstead Advisors, LLC                                                                        | Clearstead Advisors, LLC/ Eighth Amendment Term B Loan 1/26                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     144353 | PA      | $144353.00     | 0.00%             | 2029-02-01      | Floating      | 8.12%                 | No            |                  3 | On Loan: No      |
| pH Beauty Holdings III, Inc.                                                                    | pH Beauty Holdings III, Inc./Term Loan 2/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1740448 | PA      | $1740448.45    | 0.04%             | 2027-09-28      | Floating      | 8.65%                 | No            |                  3 | On Loan: No      |
| World Insurance Associates, LLC                                                                 | World Insurance Associates, LLC/Delayed Draw Term Loan 02/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     715700 | PA      | $708542.63     | 0.01%             | 2030-04-03      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Msis Holdings, Inc.                                                                             | Msis Holdings, Inc./Term Loan 3/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3551712 | PA      | $3551711.86    | 0.07%             | 2031-03-10      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| WPCG Aspire Holdings, LLC                                                                       | WPCG Aspire Holdings, LLC/Delayed Draw Term Loan 7/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   18714817 | PA      | $18574455.76   | 0.38%             | 2033-07-15      | Floating      | 11.50%                | No            |                  3 | On Loan: No      |
| Sigma Electric Manufacturing Corporation                                                        | Sigma Electric Manufacturing Corporation/Fourteenth Amendment Tranche A-2 Term Loan 3/25                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2279666 | PA      | $2279666.17    | 0.05%             | 2027-12-31      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| 15484910 Canada Inc.                                                                            | 15484910 Canada Inc./HoldCo Term Loan 4/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    2269248 | PA      | $1631261.76    | 0.03%             | 2035-04-02      | Floating      | 14.00%                | No            |                  3 | On Loan: No      |
| Radwell Parent, LLC                                                                             | Radwell Parent, LLC/2024 Delayed Draw Term Loan 11/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     180166 | PA      | $180166.00     | 0.00%             | 2029-04-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| DRSLF 2022-98                                                                                   | DRSLF 2022-98A SUB                                                                                                            | CUSIP: 26248CAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    4000000 | PA      | $1131084.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DRSLF 2022-104                                                                                  | DRSLF 2022-104A ER                                                                                                            | CUSIP: 26253DAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    5756000 | PA      | $5469443.30    | 0.11%             | 2034-08-20      | Floating      | 11.06%                | Yes           |                  3 | On Loan: No      |
| Clearstead Advisors, LLC                                                                        | Clearstead Advisors, LLC/Revolver 5/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      62245 | PA      | $62245.00      | 0.00%             | 2029-02-01      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Watermill Express, LLC                                                                          | Watermill Express, LLC/New Incremental Term Loan 4/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     571052 | PA      | $571052.00     | 0.01%             | 2031-04-30      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Watermill Express, LLC                                                                          | Watermill Express, LLC/New Delayed Draw Term Loan 4/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     381339 | PA      | $381339.00     | 0.01%             | 2031-04-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Trading Technologies International, Inc.                                                        | Trading Technologies International, Inc./ Delayed Draw Term Loan 10/25                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     133815 | PA      | $131138.70     | 0.00%             | 2032-11-04      | Floating      | 7.91%                 | No            |                  3 | On Loan: No      |
| Trading Technologies International, Inc.                                                        | Trading Technologies International, Inc./ Revolver 10/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      89135 | PA      | $87352.30      | 0.00%             | 2032-11-04      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| RSK Group Limited                                                                               | RSK Group Limited/Incremental Term Facility Commitment 05/23                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    4779447 | PA      | $6326035.72    | 0.13%             | 2030-09-06      | Floating      | 9.22%                 | No            |                  3 | On Loan: No      |
| ClubCorp Holdings, Inc.                                                                         | ClubCorp Holdings, Inc./Revolver 7/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     169072 | PA      | $169072.00     | 0.00%             | 2031-07-10      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| GreatBear Bidco Limited                                                                         | GreatBear Bidco Limited/Facility B3 08/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |     299535 | PA      | $396462.04     | 0.01%             | 2031-01-18      | Floating      | 8.99%                 | No            |                  3 | On Loan: No      |
| Kairos Bidco Limited                                                                            | Kairos Bidco Limited/Specified Acquisition Delayed Draw Term Loan 7/25                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     960857 | PA      | $941639.86     | 0.02%             | 2032-07-21      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| ACP Avenu Buyer, LLC                                                                            | ACP Avenu Buyer, LLC/Fourth Amendment Term Loan 8/25                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4993940 | PA      | $4993939.82    | 0.10%             | 2029-10-02      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| Flexera Software LLC                                                                            | Flexera Software LLC/Initial Term Loan 8/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     183693 | PA      | $180019.14     | 0.00%             | 2032-08-16      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| Project Alliance Buyer, LLC                                                                     | Project Alliance Buyer, LLC/Closing Date Term Loan 8/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     209475 | PA      | $209475.00     | 0.00%             | 2031-08-27      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Access CIG, LLC                                                                                 | Access CIG, LLC/Term Loan 8/25                                                                                                | CUSIP: 00435CAV0<br>LEI: 5493002EU9Z6IQMPAN35 | Long             | LON              | CORP              | US        |   13849121 | PA      | $12458392.22   | 0.25%             | 2030-08-19      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| High Street Buyer, Inc.                                                                         | High Street Buyer, Inc./2022 Delayed Draw Term Loan 2/22                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   11476338 | PA      | $11476338.48   | 0.23%             | 2028-04-14      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| LHS Borrower, LLC                                                                               | LHS Borrower, LLC/Term Loan 9/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1113851 | PA      | $1091574.31    | 0.02%             | 2031-09-04      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| WAX 2022-1                                                                                      | WAX 2022-1A A2                                                                                                                | CUSIP: 26929HAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   18287500 | PA      | $18146629.56   | 0.37%             | 2052-03-15      | Fixed         | 5.50%                 | Yes           |                  3 | On Loan: No      |
| Mari Miami II LLC                                                                               | Mari Miami II LLC/ Term Loan 10/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     173086 | PA      | $173085.95     | 0.00%             | 2032-10-01      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| HBH Buyer, LLC                                                                                  | HBH Buyer, LLC/Initial Term Loan 9/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     993268 | PA      | $993267.61     | 0.02%             | 2031-09-29      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Computer Services, Inc.                                                                         | Computer Services, Inc./ Delayed Draw Term Loan 10/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     171875 | PA      | $168437.50     | 0.00%             | 2031-11-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SV Newco 2, Inc.                                                                                | SV Newco 2, Inc./ Delayed Draw Term Loan 9/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     312535 | PA      | $312535.00     | 0.01%             | 2031-06-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| PDDS Holdco, Inc.                                                                               | PDDS Holdco, Inc./2025 Revolving Commitment 10/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      87980 | PA      | $87100.20      | 0.00%             | 2031-09-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Trading Technologies International, Inc.                                                        | Trading Technologies International, Inc./ Closing Date Term Loan 10/25                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     401444 | PA      | $393415.12     | 0.01%             | 2032-11-04      | Floating      | 7.91%                 | No            |                  3 | On Loan: No      |
| PCIA SPV-3, LLC                                                                                 | PCIA SPV-3, LLC/Term B Loan 8/23                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1485896 | PA      | $1485895.60    | 0.03%             | 2029-08-01      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Tandarts Today Holding B.V.                                                                     | Tandarts Today Holding B.V./Facility B Commitment 02/22                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     643210 | PA      | $743457.42     | 0.02%             | 2028-02-24      | Floating      | 8.88%                 | No            |                  3 | On Loan: No      |
| Tandarts Today Holding B.V.                                                                     | Tandarts Today Holding B.V./Acquisition/ Capex Facility 02/22                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    3380018 | PA      | $3906812.64    | 0.08%             | 2028-02-24      | Floating      | 8.88%                 | No            |                  3 | On Loan: No      |
| PCIA SPV-3, LLC                                                                                 | PCIA SPV-3, LLC/Delayed Draw Term Loan 8/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     875139 | PA      | $875138.90     | 0.02%             | 2029-08-01      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Cardinal Topco Holdings, LP                                                                     | Cardinal Topco Holdings, LP/Promissory Note 03/23                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      11500 | PA      | $11499.84      | 0.00%             | 2027-03-15      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| PCIA SPV-3, LLC                                                                                 | PCIA SPV-3, LLC/Revolver Loan 8/23                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     929406 | PA      | $929406.00     | 0.02%             | 2029-08-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Network Bidco B.V.                                                                              | Network Bidco B.V./EUR Facility B Tranche B2 04/22                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    5777780 | PA      | $6678279.16    | 0.14%             | 2031-05-12      | Floating      | 7.13%                 | No            |                  3 | On Loan: No      |
| Network Bidco B.V.                                                                              | Network Bidco B.V./Acquisition / Capex  EUR 02/22                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    2222220 | PA      | $2568565.35    | 0.05%             | 2031-05-12      | Floating      | 7.01%                 | No            |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs, Inc./ Amendment No. 4 Term Loan Commitment 12/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     141294 | PA      | $141294.00     | 0.00%             | 2028-11-08      | Floating      | 10.50%                | No            |                  3 | On Loan: No      |
| Pike Corporation                                                                                | Pike Corporation/ Delayed Draw Term Loan 12/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   13757713 | PA      | $13620135.87   | 0.28%             | 2032-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Oak Funding LLC                                                                                 | Oak Funding LLC/ Term Loan 12/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   65419702 | PA      | $64765505.20   | 1.32%             | 2032-12-02      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Alcresta Therapeutics, Inc.                                                                     | Alcresta Therapeutics, Inc./ Delayed Draw Term B Loan 12/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     507989 | PA      | $502909.11     | 0.01%             | 2031-03-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Livewire Acquisition, Inc.                                                                      | Livewire Acquisition, Inc./Revolver 12/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     754275 | PA      | $746732.25     | 0.02%             | 2032-12-31      | Floating      | 7.94%                 | No            |                  3 | On Loan: No      |
| Victors Purchaser, LLC                                                                          | Victors Purchaser, LLC/Refinancing Term Loan B TL 11/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       3824 | PA      | $3785.76       | 0.00%             | 2032-12-23      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Echo Senior Finco, LLC                                                                          | Echo Senior Finco, LLC/ Unitranche Facility 12/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2902017 | PA      | $2902017.00    | 0.06%             | 2030-12-23      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Saber Parent Holdings Corp.                                                                     | Saber Parent Holdings Corp./ Delayed Draw Term Loan 12/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     464209 | PA      | $459566.91     | 0.01%             | 2032-12-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Omnigo Software, LLC                                                                            | Omnigo Software, LLC/Initial Term Loan 12/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     595144 | PA      | $589192.56     | 0.01%             | 2030-12-19      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Production Resource Group, L.L.C.                                                               | Production Resource Group, L.L.C./Tranche B Term Loan 10/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1327630 | PA      | $1327630.25    | 0.03%             | 2030-10-10      | Floating      | 11.30%                | No            |                  3 | On Loan: No      |
| VEIT, LLC                                                                                       | VEIT, LLC/Term Loan A 12/25                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       6770 | PA      | $6770.00       | 0.00%             | 2029-01-02      | Floating      | 8.85%                 | No            |                  3 | On Loan: No      |
| Burgess Point Purchaser Corporation                                                             | Burgess Point Purchaser Corporation/ Delayed Draw Term Loan 1/26                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2153480 | PA      | $1873527.60    | 0.04%             | 2029-07-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Burgess Point Purchaser Corporation                                                             | Burgess Point Purchaser Corporation/ Term Loan 1/26                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2153480 | PA      | $1873527.60    | 0.04%             | 2029-07-25      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| LEG Purchaser Inc                                                                               | LEG Purchaser Inc/Revolver 1/26                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     119364 | PA      | $117573.54     | 0.00%             | 2032-01-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Sundance Group Holdings, Inc.                                                                   | Sundance Group Holdings, Inc./ Incremental Term Loan-B 1/26                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1794352 | PA      | $1776408.48    | 0.04%             | 2029-07-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Florida Food Products, LLC                                                                      | Florida Food Products, LLC/Second Out Term Loan (Tranche D) 10/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     125716 | PA      | $86744.27      | 0.00%             | 2030-10-15      | Floating      | 8.78%                 | No            |                  3 | On Loan: No      |
| GHX Ultimate Parent Corporation                                                                 | GHX Ultimate Parent Corporation/ First Amendment Date Incremental Term Loan 1/26                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1500753 | PA      | $1470737.94    | 0.03%             | 2033-02-04      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| SIG Parent Holdings, LLC                                                                        | SIG Parent Holdings, LLC/ First Amendment Delayed Draw Term Loan 2/26                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4774817 | PA      | $4774817.00    | 0.10%             | 2031-08-21      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Blue Raven Solutions, LLC                                                                       | Blue Raven Solutions, LLC/ Initial Term Loan 1/26                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2628393 | PA      | $2575825.14    | 0.05%             | 2032-01-16      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Premise Health Holding Corp.                                                                    | Premise Health Holding Corp./ Incremental Term Loan 1/26                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1113740 | PA      | $1113740.00    | 0.02%             | 2032-11-08      | Floating      | 8.40%                 | No            |                  3 | On Loan: No      |
| First Student Bidco Inc.                                                                        | First Student Bidco Inc./Term Loan C 01/26                                                                                    | CUSIP: 33718FAR1<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |    1122537 | PA      | $1118327.67    | 0.02%             | 2030-08-15      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| BGI Purchaser, Inc.                                                                             | BGI Purchaser, Inc./Term Loan 5/24                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3581295 | PA      | $3581295.15    | 0.07%             | 2031-05-30      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| BGI Purchaser, Inc.                                                                             | BGI Purchaser, Inc./Delayed Draw Term Loan 5/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1595270 | PA      | $1595270.00    | 0.03%             | 2031-05-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BGI Purchaser, Inc.                                                                             | BGI Purchaser, Inc./Revolver Tranche A 5/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2855917 | PA      | $2855917.17    | 0.06%             | 2030-05-31      | Floating      | 7.42%                 | No            |                  3 | On Loan: No      |
| Avia Pharma AB                                                                                  | Avia Pharma AB/ Facility B (SEK) 02/26                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    9807282 | PA      | $1035982.32    | 0.02%             | 2033-02-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| DCert Buyer, Inc.                                                                               | DCert Buyer, Inc./2nd Lien TL 02/21                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7661999 | PA      | $5803964.32    | 0.12%             | 2029-02-16      | Floating      | 10.67%                | No            |                  2 | On Loan: No      |
| CMI Parent, Inc.                                                                                | CMI Parent, Inc./ Initial Term Loan 1/26                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3358209 | PA      | $3307835.87    | 0.07%             | 2033-01-26      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Isthmus Capital LLC                                                                             | Isthmus Capital LLC/ Delay Draw Term Loan 5/23                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2665099 | PA      | $2665098.89    | 0.05%             | 2030-06-13      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| CMI Parent, Inc.                                                                                | CMI Parent, Inc./ Revolver 1/26                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     484742 | PA      | $477470.87     | 0.01%             | 2033-01-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Andwis Group Limited                                                                            | Andwis Group Limited/Additional Facility 05/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2962963 | PA      | $3921753.23    | 0.08%             | 2031-11-13      | Floating      | 10.53%                | No            |                  3 | On Loan: No      |
| Adonis Financial Funding, LLC                                                                   | Adonis Financial Funding, LLC/ Revolver 2/22                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     417312 | PA      | $54250.57      | 0.00%             | 2026-12-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| North Haven Fairway Buyer, LLC                                                                  | North Haven Fairway Buyer, LLC/Delayed Draw Term D Loan 6/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1805251 | PA      | $1805250.76    | 0.04%             | 2028-05-17      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| EG MIDCO APS                                                                                    | EG MIDCO APS/ CAR Facility 01/26                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |    3875969 | PA      | $4480060.34    | 0.09%             | 2033-01-21      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ELM30 2024-6                                                                                    | ELM30 2024-6A E                                                                                                               | CUSIP: 29001KAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1250000 | PA      | $1225596.25    | 0.02%             | 2037-07-17      | Floating      | 8.92%                 | Yes           |                  3 | On Loan: No      |
| ELMW8 2021-1                                                                                    | ELMW8 2021-1A SUB                                                                                                             | CUSIP: 290021AE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    2002941 | PA      | $311954.05     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELMW8 2021-1                                                                                    | ELMW8 2021-1A ER                                                                                                              | CUSIP: 290021AL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    3000000 | PA      | $2804139.00    | 0.06%             | 2037-04-20      | Floating      | 9.92%                 | Yes           |                  3 | On Loan: No      |
| ELMW4 2020-1                                                                                    | ELMW4 2020-1A ER                                                                                                              | CUSIP: 29002KAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2738000 | PA      | $2563808.44    | 0.05%             | 2037-04-18      | Floating      | 9.82%                 | Yes           |                  3 | On Loan: No      |
| ELM11 2021-4                                                                                    | ELM11 2021-4A SUB                                                                                                             | CUSIP: 29002MAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    4320000 | PA      | $2472603.84    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELM24 2023-3                                                                                    | ELM24 2023-3A SUB                                                                                                             | CUSIP: 29002NAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1555000 | PA      | $680298.51     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELM24 2023-3                                                                                    | ELM24 2023-3A ER                                                                                                              | CUSIP: 29002NAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2000000 | PA      | $1972136.00    | 0.04%             | 2038-01-17      | Floating      | 8.77%                 | Yes           |                  3 | On Loan: No      |
| ELM12 2021-5                                                                                    | ELM12 2021-5A ER                                                                                                              | CUSIP: 29003CAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1475000 | PA      | $1379884.63    | 0.03%             | 2037-10-15      | Floating      | 9.57%                 | Yes           |                  3 | On Loan: No      |
| ELM15 2022-2                                                                                    | ELM15 2022-2A INC                                                                                                             | CUSIP: 29003LAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |    3050000 | PA      | $1208681.45    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELM26 2024-1                                                                                    | ELM26 2024-1A SUB                                                                                                             | CUSIP: 29004DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     864865 | PA      | $430177.80     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELM32 2024-8                                                                                    | ELM32 2024-8A SUB                                                                                                             | CUSIP: 29004EAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3450000 | PA      | $1896230.40    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELM35 2024-11                                                                                   | ELM35 2024-11A SUB                                                                                                            | CUSIP: 29004RAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1990000 | PA      | $1308693.65    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELM44 2025-7                                                                                    | ELM44 2025-7A SUB                                                                                                             | CUSIP: 29004XAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   11760000 | PA      | $8910340.32    | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EG MIDCO APS                                                                                    | EG MIDCO APS/ Unitranche Facility 01/26                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |   16124031 | PA      | $18637050.95   | 0.38%             | 2033-01-21      | Floating      | 7.29%                 | No            |                  3 | On Loan: No      |
| Slaine Holdings LLC                                                                             | Slaine Holdings LLC/Initial Term Loan 5/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6055581 | PA      | $6055581.00    | 0.12%             | 2030-05-23      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| Netsmart Technologies, Inc.                                                                     | Netsmart Technologies, Inc./Closing Date Term Loan 8/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   34810544 | PA      | $34810544.13   | 0.71%             | 2031-08-25      | Floating      | 8.87%                 | No            |                  3 | On Loan: No      |
| Netsmart Technologies, Inc.                                                                     | Netsmart Technologies, Inc./Revolving Loan 8/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5311302 | PA      | $5311302.00    | 0.11%             | 2031-08-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Netsmart Technologies, Inc.                                                                     | Netsmart Technologies, Inc./Initial Delayed Draw Term Loan 8/24                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4473030 | PA      | $4473030.00    | 0.09%             | 2031-08-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Alpha Luxco 2 Sarl                                                                              | Alpha Luxco 2 Sarl/Facility B                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    1072214 | PA      | $1239324.04    | 0.03%             | 2027-01-08      | Floating      | 4.12%                 | No            |                  3 | On Loan: No      |
| Enviva Partners LP / Enviva Partners Finance Corp                                               | EVA 6.5% Sr Unsecured Nts due 2026 144A/Escrow                                                                                | CUSIP: 294ESCAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   17217000 | PA      | $0.00          | 0.00%             | 2027-01-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Convey Health Solutions, Inc.                                                                   | Convey Health Solutions, Inc./Term Loan 8/19                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1893376 | PA      | $1249628.25    | 0.03%             | 2029-07-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Watermill Express, LLC                                                                          | Watermill Express, LLC/Second Amendment Incremental Term Loan 1/24                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     566923 | PA      | $566923.49     | 0.01%             | 2031-04-30      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Flint Opco, LLC                                                                                 | Flint Opco, LLC/2024 Incremental Delayed Draw Term Loan 5/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     856361 | PA      | $856360.80     | 0.02%             | 2030-08-15      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| High Street Buyer, Inc.                                                                         | High Street Buyer, Inc./Term B Loan 4/21                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4590645 | PA      | $4590644.74    | 0.09%             | 2028-04-14      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| High Street Buyer, Inc.                                                                         | High Street Buyer, Inc./Revolver 4/21                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     687542 | PA      | $687541.55     | 0.01%             | 2027-04-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Drogon Bidco Inc.                                                                               | Drogon Bidco Inc./Term Loan 8/24                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1357817 | PA      | $1357816.68    | 0.03%             | 2031-08-29      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Drogon Bidco Inc.                                                                               | Drogon Bidco Inc./Delayed Draw Term Loan 8/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1150643 | PA      | $1150642.84    | 0.02%             | 2031-08-29      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Drogon Bidco Inc.                                                                               | Drogon Bidco Inc./Revolver 8/24                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     445061 | PA      | $445061.00     | 0.01%             | 2030-08-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Plaskolite PPC Intermediate II LLC                                                              | Plaskolite PPC Intermediate II LLC/Revolver 5/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2712650 | PA      | $2577017.81    | 0.05%             | 2030-02-07      | Floating      | 10.65%                | No            |                  3 | On Loan: No      |
| Plaskolite PPC Intermediate II LLC                                                              | Plaskolite PPC Intermediate II LLC/Term Loan 5/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   35108084 | PA      | $33352679.84   | 0.68%             | 2030-05-09      | Floating      | 11.64%                | No            |                  3 | On Loan: No      |
| Ellucian Holdings Inc.                                                                          | Ellucian Holdings Inc./Term Loan B 11/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   15250510 | PA      | $14808855.35   | 0.30%             | 2029-10-08      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Draken Bidco Limited                                                                            | Draken Bidco Limited/Facility B USD 02/22                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |   10560000 | PA      | $10560000.00   | 0.21%             | 2029-07-20      | Floating      | 10.40%                | No            |                  3 | On Loan: No      |
| Draken Bidco Limited                                                                            | Draken Bidco Limited/Acquisition Facility USD 02/22                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1440000 | PA      | $1440000.00    | 0.03%             | 2029-07-20      | Floating      | 10.60%                | No            |                  3 | On Loan: No      |
| Laboratories Bidco LLC                                                                          | Laboratories Bidco LLC/Third Amendment Incremental Term Loan 10/20                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3492984 | PA      | $2689597.81    | 0.05%             | 2029-07-23      | Floating      | 5.60%                 | No            |                  3 | On Loan: No      |
| Convera International Financial S.a r.l.                                                        | Convera International Financial S.a r.l./Term Loan 3/22                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |   22474250 | PA      | $22474250.50   | 0.46%             | 2030-03-01      | Floating      | 8.59%                 | No            |                  3 | On Loan: No      |
| Convera International Holdings Limited                                                          | Convera International Holdings Limited/Revolver 3/22                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    1917012 | PA      | $1917012.00    | 0.04%             | 2030-03-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Waverly Advisors, LLC                                                                           | Waverly Advisors, LLC/k/a WA Asset Management, LLC)/Term Loan 3/22                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1989848 | PA      | $1989848.30    | 0.04%             | 2028-03-01      | Floating      | 9.60%                 | No            |                  3 | On Loan: No      |
| Waverly Advisors, LLC                                                                           | Waverly Advisors, LLC/k/a WA Asset Management, LLC)/Revolver 3/22                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     945392 | PA      | $945391.98     | 0.02%             | 2028-03-01      | Floating      | 9.60%                 | No            |                  3 | On Loan: No      |
| Waverly Advisors, LLC                                                                           | Waverly Advisors, LLC/k/a WA Asset Management, LLC)/Delayed Draw Term Loan 3/22                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1454848 | PA      | $1454847.96    | 0.03%             | 2028-03-01      | Floating      | 9.60%                 | No            |                  3 | On Loan: No      |
| Freeport LNG investments, LLLP                                                                  | Freeport LNG investments, LLLP/Term Loan B 01/26                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4000000 | PA      | $3996680.00    | 0.08%             | 2033-02-11      | Floating      | 6.89%                 | No            |                  2 | On Loan: No      |
| Solar Bidco Limited                                                                             | Solar Bidco Limited/ Acquisition/Capex Facility Three 10/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     890625 | PA      | $1178823.86    | 0.02%             | 2029-11-23      | Floating      | 8.63%                 | No            |                  3 | On Loan: No      |
| Inszone Mid, LLC                                                                                | Inszone Mid, LLC/Amendment No. 2 Delayed Draw Term Loan  10/25                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1017646 | PA      | $1007469.54    | 0.02%             | 2029-11-30      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Calculus Acquico Sarl                                                                           | Calculus Acquico Sarl/USD Facility B2 05/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |     600000 | PA      | $600000.00     | 0.01%             | 2032-05-31      | Floating      | 9.92%                 | No            |                  3 | On Loan: No      |
| Calculus Acquico Sarl                                                                           | Calculus Acquico Sarl/Capex and Acquisition Facility 2 05/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    1000000 | PA      | $1000000.13    | 0.02%             | 2032-05-31      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| CC Globe Holding II A/S                                                                         | CC Globe Holding II A / S/Facility B 03/22                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |   12687325 | PA      | $1345082.22    | 0.03%             | 2028-03-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Excel Fitness Consolidator LLC                                                                  | Excel Fitness Consolidator LLC/Fourth Amendment Delayed Draw Term Loan 5/24                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     145528 | PA      | $145528.04     | 0.00%             | 2030-04-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| W.S. Connelly & Co., LLC                                                                        | W.S. Connelly & Co., LLC/Initial Term Loan 5/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     591926 | PA      | $591925.90     | 0.01%             | 2030-05-24      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| W.S. Connelly & Co., LLC                                                                        | W.S. Connelly & Co., LLC/Delayed Draw Term A Loan 5/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     144966 | PA      | $144965.86     | 0.00%             | 2030-05-24      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| W.S. Connelly & Co., LLC                                                                        | W.S. Connelly & Co., LLC/Delayed Draw Term B Loan 5/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     270245 | PA      | $270245.03     | 0.01%             | 2030-05-24      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| W.S. Connelly & Co., LLC                                                                        | W.S. Connelly & Co., LLC/Revolver A 5/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     762035 | PA      | $762034.71     | 0.02%             | 2030-05-24      | Floating      | 7.70%                 | No            |                  3 | On Loan: No      |
| Bobcat Purchaser, LLC                                                                           | Bobcat Purchaser, LLC/Term Loan 06/23                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2895132 | PA      | $2895132.13    | 0.06%             | 2030-06-17      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Bobcat Purchaser, LLC                                                                           | Bobcat Purchaser, LLC/Delayed Draw Term Loan 06/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     981464 | PA      | $981463.74     | 0.02%             | 2030-06-17      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Bobcat Purchaser, LLC                                                                           | Bobcat Purchaser, LLC/Revolver 06/23                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     306256 | PA      | $306256.00     | 0.01%             | 2030-06-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Crown CT Parent Inc.                                                                            | Crown CT Parent Inc./Term Loan 3/22                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8006397 | PA      | $8006397.40    | 0.16%             | 2029-03-08      | Floating      | 9.35%                 | No            |                  3 | On Loan: No      |
| Crown CT Parent Inc.                                                                            | Crown CT Parent Inc./Revolver 3/22                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     903219 | PA      | $903219.00     | 0.02%             | 2028-03-08      | Floating      | 9.35%                 | No            |                  3 | On Loan: No      |
| Ensemble RCM LLC                                                                                | Ensemble RCM LLC/Term Loan B 01/26                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4135135 | PA      | $4082577.58    | 0.08%             | 2033-02-09      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| CR Bidco Limited                                                                                | CR Bidco Limited/ CAF Facility 11/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     500000 | PA      | $661795.85     | 0.01%             | 2032-11-05      | Floating      | 9.48%                 | No            |                  3 | On Loan: No      |
| RWA Wealth Partners, LLC                                                                        | RWA Wealth Partners, LLC/Term Loan 11/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3105630 | PA      | $3105629.77    | 0.06%             | 2030-11-15      | Floating      | 8.40%                 | No            |                  3 | On Loan: No      |
| RWA Wealth Partners, LLC                                                                        | RWA Wealth Partners, LLC/Delayed Draw Term Loan 11/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2520973 | PA      | $2520972.82    | 0.05%             | 2030-11-15      | Floating      | 8.40%                 | No            |                  3 | On Loan: No      |
| RWA Wealth Partners, LLC                                                                        | RWA Wealth Partners, LLC/Revolver 11/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     744263 | PA      | $744263.00     | 0.02%             | 2030-11-15      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Rodeo AcquisitionCo LLC                                                                         | Rodeo AcquisitionCo LLC/Amendment No. 2 Incremental Term Loan                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     458541 | PA      | $458540.78     | 0.01%             | 2029-07-26      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| CMI Parent, Inc.                                                                                | CMI Parent, Inc./ Delayed Draw Term Loan 1/26                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1083002 | PA      | $1066756.97    | 0.02%             | 2033-01-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Convera International Holdings Limited                                                          | Convera International Holdings Limited/Incremental Term Loan 06/23                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    4596117 | PA      | $4596117.04    | 0.09%             | 2030-03-01      | Floating      | 8.60%                 | No            |                  3 | On Loan: No      |
| Cobalt Buyer Sub, Inc.                                                                          | Cobalt Buyer Sub, Inc./Incremental Term Loan 06/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2472812 | PA      | $2250258.70    | 0.05%             | 2028-10-02      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Foundation Risk Partners, Corp.                                                                 | Foundation Risk Partners, Corp./Amendment No. 5 Delayed Draw Term Loan 5/24                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2831029 | PA      | $2831029.40    | 0.06%             | 2030-10-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| KPS Global LLC                                                                                  | KPS Global LLC/Revolver 9/24                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1358766 | PA      | $1358766.00    | 0.03%             | 2030-09-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Radwell Parent, LLC                                                                             | Radwell Parent, LLC/Revolver 04/22                                                                                            | CUSIP: 75063DAB3<br>LEI: 254900FCZMRX1YEKJ405 | Long             | LON              | CORP              | US        |      64692 | PA      | $64692.00      | 0.00%             | 2029-04-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Blue Raven Solutions, LLC                                                                       | Blue Raven Solutions, LLC/ Revolver 1/26                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     423312 | PA      | $414845.76     | 0.01%             | 2032-01-16      | Floating      | 9.66%                 | No            |                  3 | On Loan: No      |
| Calculus Acquico Sarl                                                                           | Calculus Acquico Sarl/EUR Facility B2 05/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    1234220 | PA      | $1426579.79    | 0.03%             | 2032-05-31      | Floating      | 8.26%                 | No            |                  3 | On Loan: No      |
| Clarion Home Services Group, LLC                                                                | Clarion Home Services Group, LLC/Amendment No. 1 Delayed Draw Term Loan 03/23                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     272223 | PA      | $228667.71     | 0.00%             | 2027-12-06      | Floating      | 12.04%                | No            |                  3 | On Loan: No      |
| Bizzdesign Holding B.V.                                                                         | Bizzdesign Holding B.V./Facility B Tranche B2 Commitment 08/24                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1000000 | PA      | $1155855.56    | 0.02%             | 2031-10-17      | Floating      | 8.63%                 | No            |                  3 | On Loan: No      |
| Verista, Inc.                                                                                   | Verista, Inc./Initial Term Loan 02/22                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8389116 | PA      | $7298530.60    | 0.15%             | 2027-02-16      | Floating      | 10.79%                | No            |                  3 | On Loan: No      |
| Verista, Inc.                                                                                   | Verista, Inc./Delayed Draw Term Loan 02/22                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1808291 | PA      | $1573212.77    | 0.03%             | 2027-02-16      | Floating      | 10.79%                | No            |                  3 | On Loan: No      |
| Verista, Inc.                                                                                   | Verista, Inc./Revolving Loan 02/22                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1000000 | PA      | $870000.00     | 0.02%             | 2027-02-16      | Floating      | 9.79%                 | No            |                  3 | On Loan: No      |
| Neptune BidCo US Inc.                                                                           | Neptune BidCo US Inc./ 2026 Dollar Term B Facility 2/26                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   52261783 | PA      | $49805479.20   | 1.01%             | 2033-02-03      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| Sabseg Group, S.L.                                                                              | Sabseg Group, S.L./Acquisition/ Capex Facility EUR 03/22                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |    1538917 | PA      | $1778765.43    | 0.04%             | 2029-04-09      | Floating      | 8.56%                 | No            |                  3 | On Loan: No      |
| Sabseg Group, S.L.                                                                              | Sabseg Group, S.L./Unitranche Facility EUR 03/22                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |     746167 | PA      | $862460.86     | 0.02%             | 2029-04-09      | Floating      | 8.56%                 | No            |                  3 | On Loan: No      |
| JAMS Buyer LLC                                                                                  | JAMS Buyer LLC/Revolver 6/25                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     349467 | PA      | $349467.00     | 0.01%             | 2031-06-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| JAMS Buyer LLC                                                                                  | JAMS Buyer LLC/Delayed Draw Term Loan 6/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     625378 | PA      | $625378.00     | 0.01%             | 2032-06-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CC Globe Holding II A/S                                                                         | CC Globe Holding II A/S/ New term facility C  06/23                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |   20839327 | PA      | $2209725.25    | 0.04%             | 2028-03-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| QBS Parent, Inc.                                                                                | QBS Parent, Inc./Term Loan 5/25                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4788127 | PA      | $4692364.10    | 0.10%             | 2032-06-03      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Crossco (1469) Limited                                                                          | Crossco (1469) Limited/Facility C Commitment 12/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     774194 | PA      | $1024716.75    | 0.02%             | 2030-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Superman Holdings, LLC                                                                          | Superman Holdings, LLC/ Revolver 8/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1259158 | PA      | $1246566.42    | 0.03%             | 2031-08-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Superman Holdings, LLC                                                                          | Superman Holdings, LLC/ Delayed Draw Term Loan 8/24                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2822700 | PA      | $2794472.77    | 0.06%             | 2031-08-29      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| DuraServ LLC                                                                                    | DuraServ LLC/Amendment No. 2 Incremental Delayed Draw Term Loan 10/25                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     234464 | PA      | $232119.36     | 0.00%             | 2031-06-10      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Aldinger Company                                                                                | Aldinger Company/Amendment No. 3 Delayed Draw Term Loan B 10/25                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     219591 | PA      | $219591.00     | 0.00%             | 2030-10-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Artifact Bidco, Inc.                                                                            | Artifact Bidco, Inc./Term Loan 5/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1154093 | PA      | $1154093.00    | 0.02%             | 2031-07-28      | Floating      | 7.85%                 | No            |                  3 | On Loan: No      |
| Artifact Bidco, Inc.                                                                            | Artifact Bidco, Inc./Revolver USD 5/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     162745 | PA      | $162745.00     | 0.00%             | 2030-07-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Artifact Bidco, Inc.                                                                            | Artifact Bidco, Inc./Delayed Draw Term Loan 5/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     282470 | PA      | $282470.00     | 0.01%             | 2031-07-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Epicor Software Corporation                                                                     | Epicor Software Corporation/Term Loan 05/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   14378572 | PA      | $14087406.12   | 0.29%             | 2031-05-30      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Project Optimus Bidco Limited                                                                   | Project Optimus Bidco Limited/ Unitranche Acquisition Facility 05/25                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |     441176 | PA      | $583936.89     | 0.01%             | 2031-05-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Project Optimus Bidco Limited                                                                   | Project Optimus Bidco Limited/ Unitranche Facility 05/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |     308824 | PA      | $408756.88     | 0.01%             | 2031-05-16      | Floating      | 9.23%                 | No            |                  3 | On Loan: No      |
| DOXA Insurance Holdings LLC                                                                     | DOXA Insurance Holdings LLC/Delayed Draw 2 Term Loan 5/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2407694 | PA      | $2407694.11    | 0.05%             | 2030-12-20      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| Chobani, LLC                                                                                    | Chobani, LLC/Term Loan 10/25                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7907000 | PA      | $7903679.06    | 0.16%             | 2032-10-28      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Pregis TopCo LLC                                                                                | Pregis TopCo LLC/Term Loan 5/25                                                                                               | CUSIP: 74045BAG2<br>LEI: 549300LJXHJYHS1GM034 | Long             | LON              | CORP              | US        |    6355967 | PA      | $6343255.38    | 0.13%             | 2029-02-01      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| Superman Holdings, LLC                                                                          | Superman Holdings, LLC/ Term Loan 8/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8647750 | PA      | $8561272.50    | 0.17%             | 2031-08-29      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Bottomline Technologies, Inc. and Legal Spend Holdings, LLC                                     | Bottomline Technologies, Inc. and Legal Spend Holdings, LLC/Revolver 5/22                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1912043 | PA      | $1912043.00    | 0.04%             | 2028-05-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| U.S. Urology Partners, LLC                                                                      | U.S. Urology Partners, LLC/ Incremental Term Loan 10/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     541720 | PA      | $541720.00     | 0.01%             | 2032-04-08      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| HH-Stella, Inc.                                                                                 | HH-Stella, Inc./2025 Incremental Term Loan 10/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     962697 | PA      | $962697.00     | 0.02%             | 2028-04-24      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Optio Group Limited                                                                             | Optio Group Limited/ Acquisition Facility 3 11/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     822369 | PA      | $1088480.78    | 0.02%             | 2032-03-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| OID-OL Intermediate I, LLC                                                                      | OID-OL Intermediate I, LLC/25 S+600                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1626343 | PA      | $1610079.44    | 0.03%             | 2029-02-01      | Floating      | 9.67%                 | No            |                  2 | On Loan: No      |
| Project Optimus Bidco Limited                                                                   | Project Optimus Bidco Limited/ Unitranche Working Capital Facility 05/25                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |      68860 | PA      | $91142.52      | 0.00%             | 2031-05-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Beacon Wellness Brands, Inc.                                                                    | Beacon Wellness Brands, Inc./Initial Term Loan 12/21                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1541441 | PA      | $1464369.03    | 0.03%             | 2027-12-22      | Floating      | 12.77%                | No            |                  3 | On Loan: No      |
| Beacon Wellness Brands, Inc.                                                                    | Beacon Wellness Brands, Inc./Revolving Credit Loan 12/21                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     123043 | PA      | $116891.04     | 0.00%             | 2027-12-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Proofpoint, Inc.                                                                                | Proofpoint, Inc./Term Loan 5/25                                                                                               | CUSIP: 74345HAJ0<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |   23922413 | PA      | $23125079.45   | 0.47%             | 2028-08-31      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Spruce Bidco II Inc.                                                                            | Spruce Bidco II Inc./JPY Term Loan 1/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  993804912 | PA      | $6261963.47    | 0.13%             | 2032-01-30      | Floating      | 5.75%                 | No            |                  3 | On Loan: No      |
| Florida Food Products, LLC                                                                      | Florida Food Products, LLC/First Out Term Loan (Tranche B) 10/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       5773 | PA      | $5657.43       | 0.00%             | 2030-10-15      | Floating      | 9.15%                 | No            |                  3 | On Loan: No      |
| Florida Food Products, LLC                                                                      | Florida Food Products, LLC/Second Out Term Loan (Tranche C) 10/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1155423 | PA      | $797242.06     | 0.02%             | 2030-10-15      | Floating      | 8.78%                 | No            |                  3 | On Loan: No      |
| Perigon Wealth Management, LLC                                                                  | Perigon Wealth Management, LLC/Term Loan 3/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1995987 | PA      | $1995987.05    | 0.04%             | 2031-03-28      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| CFC Bidco 2022 Limited                                                                          | CFC Bidco 2022 Limited/Term Loan B 05/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |   18616733 | PA      | $17732437.93   | 0.36%             | 2032-07-01      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Patriot Container Corp.                                                                         | Patriot Container Corp./Initial Delayed Draw Term Loan 9/24                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     381279 | PA      | $381279.14     | 0.01%             | 2030-09-09      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| Perigon Wealth Management, LLC                                                                  | Perigon Wealth Management, LLC/Delayed Draw Term Loan 3/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1738585 | PA      | $1738584.92    | 0.04%             | 2031-03-28      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| GTCR F Buyer Corp.                                                                              | GTCR F Buyer Corp./Delayed Draw Term B Loan 11/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     266499 | PA      | $266498.87     | 0.01%             | 2030-09-06      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Perigon Wealth Management, LLC                                                                  | Perigon Wealth Management, LLC/Revolver 3/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     250000 | PA      | $250000.00     | 0.01%             | 2031-03-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| AI Titan Parent, Inc.                                                                           | AI Titan Parent, Inc./Revolver 8/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1545811 | PA      | $1530352.89    | 0.03%             | 2031-08-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Prairie ECI Acquiror LP                                                                         | Prairie ECI Acquiror LP/Term Loan B 01/26                                                                                     | CUSIP: 73955HAG9<br>LEI: 254900Q6KU2LVSIISH22 | Long             | LON              | CORP              | US        |    5178972 | PA      | $5182856.43    | 0.11%             | 2029-08-01      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Repairify, Inc.                                                                                 | Repairify, Inc./Initial Term Loan 6/21                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3418424 | PA      | $3418423.82    | 0.07%             | 2027-06-14      | Floating      | 9.10%                 | No            |                  3 | On Loan: No      |
| TCP Hawker Intermediate LLC                                                                     | TCP Hawker Intermediate LLC/Second Tranche Revolver 11/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2610508 | PA      | $2558297.90    | 0.05%             | 2029-08-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Sabseg Group, S.L.                                                                              | Sabseg Group, S.L./Second Acquisition/ Capex Facility 7/23                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |    3191489 | PA      | $3688900.32    | 0.07%             | 2029-04-09      | Floating      | 8.56%                 | No            |                  3 | On Loan: No      |
| Cority Software Inc.                                                                            | Cority Software Inc./2025 Revolver 10/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1602288 | PA      | $1554219.33    | 0.03%             | 2032-11-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| HuFriedy Group Acquisition LLC                                                                  | HuFriedy Group Acquisition LLC/2025-1 Delayed Draw Term Loan 10/25                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2123342 | PA      | $2123342.00    | 0.04%             | 2031-06-02      | Floating      | 9.18%                 | No            |                  3 | On Loan: No      |
| KLLM 2                                                                                          | KLLM 2A ER2                                                                                                                   | CUSIP: 370911AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $229748.75     | 0.00%             | 2037-10-22      | Fixed         | 11.02%                | No            |                  3 | On Loan: No      |
| GNRT 2024-20                                                                                    | KLLM 2024-20A SUB                                                                                                             | CUSIP: 370913AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   11050000 | PA      | $6902846.60    | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sabseg Group, S.L.                                                                              | Sabseg Group, S.L./Second Unitranche Facility 7/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |    1989362 | PA      | $2299415.14    | 0.05%             | 2029-04-09      | Floating      | 8.56%                 | No            |                  3 | On Loan: No      |
| Repairify, Inc.                                                                                 | Repairify, Inc./Revolver 6/21                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     765748 | PA      | $765748.39     | 0.02%             | 2027-06-14      | Floating      | 9.24%                 | No            |                  3 | On Loan: No      |
| GNRT 9                                                                                          | KLLM 9A ER                                                                                                                    | CUSIP: 37147MAE7<br>LEI: 549300OYEZ11WGJ2SS19 | Long             | ABS-CBDO         | CORP              | KY        |    2000000 | PA      | $1759232.00    | 0.04%             | 2038-01-20      | Floating      | 10.02%                | Yes           |                  3 | On Loan: No      |
| KLLM 2024-15                                                                                    | KLLM 2024-15A E                                                                                                               | CUSIP: 37148AAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     537500 | PA      | $502431.89     | 0.01%             | 2037-07-20      | Floating      | 10.37%                | Yes           |                  3 | On Loan: No      |
| KLLM 2022-10                                                                                    | KLLM 2022-10A ER                                                                                                              | CUSIP: 37148CAG3<br>LEI: 549300HJXIXJNOK1KU82 | Long             | ABS-CBDO         | CORP              | KY        |    2750000 | PA      | $2527162.00    | 0.05%             | 2038-01-22      | Floating      | 8.57%                 | Yes           |                  3 | On Loan: No      |
| KLLM 6                                                                                          | KLLM 6A ER2                                                                                                                   | CUSIP: 37148HAC1<br>LEI: 254900V675MOVWK0HA08 | Long             | ABS-CBDO         | CORP              | KY        |    1820000 | PA      | $1683667.44    | 0.03%             | 2037-10-22      | Floating      | 10.92%                | Yes           |                  3 | On Loan: No      |
| KLLM 2024-18                                                                                    | KLLM 2024-18A SUB                                                                                                             | CUSIP: 37149XAC5<br>LEI: 213800HEENW837PB8J74 | Long             | ABS-O            | CORP              | KY        |    8160000 | PA      | $4530815.52    | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ParentPay Group Limited                                                                         | ParentPay Group Limited/ Facility B1 05/21                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    5528571 | PA      | $7317571.25    | 0.15%             | 2028-06-30      | Floating      | 10.58%                | No            |                  3 | On Loan: No      |
| Wealth Enhancement Group, LLC                                                                   | Wealth Enhancement Group, LLC/2021 Delayed Draw Term Loan 6/21                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8026539 | PA      | $7946273.29    | 0.16%             | 2028-10-04      | Floating      | 7.91%                 | No            |                  3 | On Loan: No      |
| ParentPay Group Limited                                                                         | ParentPay Group Limited/ Facility B2 05/21                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1463682 | PA      | $1937317.07    | 0.04%             | 2028-06-30      | Floating      | 10.58%                | No            |                  3 | On Loan: No      |
| Anaplan, Inc.                                                                                   | Anaplan, Inc./2025 Term Loan 6/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7038608 | PA      | $6968222.27    | 0.14%             | 2029-06-21      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Anaplan, Inc.                                                                                   | Anaplan, Inc./Refinancing Revolving Credit Loan 05/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     381014 | PA      | $377203.86     | 0.01%             | 2028-06-21      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Intero Integrity Services Group B.V.                                                            | Intero Integrity Services Group B.V./ Additional Facility 2 10/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     582917 | PA      | $673767.86     | 0.01%             | 2031-09-10      | Floating      | 9.97%                 | No            |                  3 | On Loan: No      |
| Capstone Acquisition Holdings, Inc.                                                             | Capstone Acquisition Holdings, Inc./1L Term Loan 8/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   17828470 | PA      | $17828469.51   | 0.36%             | 2029-11-13      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| MS Buyer, Inc.                                                                                  | MS Buyer, Inc./Initial Term Loan 07/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     301379 | PA      | $298365.21     | 0.01%             | 2031-07-01      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| The Mather Group, LLC                                                                           | The Mather Group, LLC/Term Loan 3/22                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4825000 | PA      | $4825000.00    | 0.10%             | 2028-03-31      | Floating      | 9.10%                 | No            |                  3 | On Loan: No      |
| The Mather Group, LLC                                                                           | The Mather Group, LLC/Delayed Draw Term Loan 3/22                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1941111 | PA      | $1941111.06    | 0.04%             | 2028-03-31      | Floating      | 9.10%                 | No            |                  3 | On Loan: No      |
| The Mather Group, LLC                                                                           | The Mather Group, LLC/Revolver 3/22                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     750000 | PA      | $750000.00     | 0.02%             | 2028-03-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Capstone Acquisition Holdings, Inc.                                                             | Capstone Acquisition Holdings, Inc./2L Term Loan 8/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9246491 | PA      | $9246490.93    | 0.19%             | 2030-11-12      | Floating      | 12.27%                | No            |                  3 | On Loan: No      |
| Capstone Acquisition Holdings, Inc.                                                             | Capstone Acquisition Holdings, Inc./2L Delayed Draw Term Loan 8/24                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1667753 | PA      | $1667753.00    | 0.03%             | 2030-11-12      | Floating      | 12.27%                | No            |                  3 | On Loan: No      |
| Capstone Acquisition Holdings, Inc.                                                             | Capstone Acquisition Holdings, Inc./1L Delayed Draw Term Loan 8/24                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     516870 | PA      | $516869.59     | 0.01%             | 2029-11-13      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| Capstone Acquisition Holdings, Inc.                                                             | Capstone Acquisition Holdings, Inc./Revolver 8/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3135061 | PA      | $3135060.80    | 0.06%             | 2029-05-14      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Hakken Bidco B.V.                                                                               | Hakken Bidco B.V./Facility B Tranche B2 07/23                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    3060000 | PA      | $3536918.03    | 0.07%             | 2030-07-26      | Floating      | 9.29%                 | No            |                  3 | On Loan: No      |
| Hakken Bidco B.V.                                                                               | Hakken Bidco B.V./Acquisition/ Capex Facility Tranche A2 07/23                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1224000 | PA      | $1414767.21    | 0.03%             | 2030-07-26      | Floating      | 9.29%                 | No            |                  3 | On Loan: No      |
| Rawlings Sporting Goods Company, Inc.                                                           | Rawlings Sporting Goods Company, Inc./Third Amendment Incremental Term Loan 1/24                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     778394 | PA      | $778394.45     | 0.02%             | 2030-11-26      | Floating      | 8.60%                 | No            |                  3 | On Loan: No      |
| TVG-TMG Topco, Inc.                                                                             | TVG-TMG Topco, Inc./Holdco PIK Term Loan 3/22                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4313617 | PA      | $4313617.21    | 0.09%             | 2029-03-30      | Floating      | 12.00%                | No            |                  3 | On Loan: No      |
| INSPIRED EDUCATION US HOLDINGS INC.                                                             | INSPIRED EDUCATION US HOLDINGS INC./Term Loan B 01/26                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1000000 | PA      | $996880.00     | 0.02%             | 2031-02-28      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Radiate Holdco LLC                                                                              | Radiate Holdco LLC/Term Loan 10/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2609437 | PA      | $2605078.79    | 0.05%             | 2029-06-26      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| Radiate Holdco LLC                                                                              | Radiate Holdco LLC/Delayed TL 10/25                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7828310 | PA      | $7815236.36    | 0.16%             | 2029-06-26      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| GLM 2022-12                                                                                     | GLM 2022-12A ER                                                                                                               | CUSIP: 38138YAG5<br>LEI: 549300KUSTD1I13BZ897 | Long             | ABS-CBDO         | CORP              | JE        |    2100000 | PA      | $2060116.80    | 0.04%             | 2037-07-20      | Floating      | 9.37%                 | Yes           |                  3 | On Loan: No      |
| Spaceship Purchaser, Inc.                                                                       | Spaceship Purchaser, Inc./Revolver 10/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1411126 | PA      | $1411125.65    | 0.03%             | 2031-10-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs, Inc./ Amendment No. 5 Delayed Draw Term Loan 1/26                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     899016 | PA      | $899016.00     | 0.02%             | 2028-11-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CentralSquare Technologies, LLC                                                                 | CentralSquare Technologies, LLC/Revolver 4/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3401724 | PA      | $3401724.14    | 0.07%             | 2030-04-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| First Student Bidco Inc.                                                                        | First Student Bidco Inc./Term Loan B 01/26                                                                                    | CUSIP: 33718FAQ3<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |    6134919 | PA      | $6111913.21    | 0.12%             | 2030-08-15      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Electron Bidco Inc.                                                                             | Electron Bidco Inc./Term Loan B 01/26                                                                                         | CUSIP: 28542CAG4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   13794960 | PA      | $13769163.78   | 0.28%             | 2033-02-06      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| MAK-System Group Limited                                                                        | MAK-System Group Limited/Facility B 01/20                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |   28460649 | PA      | $28460648.59   | 0.58%             | 2027-02-18      | Floating      | 10.63%                | No            |                  3 | On Loan: No      |
| Mamba Purchaser, Inc.                                                                           | Mamba Purchaser, Inc./Term Loan 01/26                                                                                         | CUSIP: 56150KAK1<br>LEI: 549300EAB6F7TKRLOT57 | Long             | LON              | CORP              | US        |   14111806 | PA      | $14114769.64   | 0.29%             | 2031-10-14      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Elemica, Inc.                                                                                   | Elemica, Inc./ Initial Term Loan 2/26                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   10387851 | PA      | $10180093.98   | 0.21%             | 2032-02-05      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Elemica, Inc.                                                                                   | Elemica, Inc./ Revolver 2/26                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2180431 | PA      | $2136822.38    | 0.04%             | 2032-02-05      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Goose Borrower, L.P.                                                                            | Goose Borrower, L.P./ Term Loan 3/26                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1322387 | PA      | $1309163.13    | 0.03%             | 2033-03-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Evolent Health LLC                                                                              | Evolent Health LLC/2024-A Delayed Draw Term Loan                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1767370 | PA      | $1767369.71    | 0.04%             | 2029-12-06      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| Evolent Health LLC                                                                              | Evolent Health LLC/2024-B Delayed Draw Term Loan                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3139853 | PA      | $3139853.00    | 0.06%             | 2029-12-06      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| SV Newco 2, Inc.                                                                                | SV Newco 2, Inc./Initial Term Loan 5/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     416617 | PA      | $416616.58     | 0.01%             | 2031-06-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| SV Newco 2, Inc.                                                                                | SV Newco 2, Inc./Multi-Currency Revolver 5/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     587594 | PA      | $587593.91     | 0.01%             | 2031-06-02      | Floating      | 11.50%                | No            |                  3 | On Loan: No      |
| Kellermeyer Bergensons Services, LLC                                                            | Kellermeyer Bergensons Services, LLC/Amendment No. 6 Term Loan 12/23                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3603969 | PA      | $180198.45     | 0.00%             | 2028-11-06      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| LivTech Purchaser, Inc.                                                                         | LivTech Purchaser, Inc./Revolver 11/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     384113 | PA      | $380271.87     | 0.01%             | 2031-11-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Edelman Financial Engines Center, LLC, The                                                      | Edelman Financial Engines Center, LLC, The/Second Lien Term Loan 05/24                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   20850000 | PA      | $20610225.00   | 0.42%             | 2028-10-06      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| Wellington Bidco Inc.                                                                           | Wellington Bidco Inc./Original Term Loan 6/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3280256 | PA      | $3247453.32    | 0.07%             | 2030-06-05      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Wellington Bidco Inc.                                                                           | Wellington Bidco Inc./Original Delayed Draw Term Loan 6/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     652688 | PA      | $646161.28     | 0.01%             | 2030-06-05      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| MRI Software LLC                                                                                | MRI Software LLC/Second Amendment Term Loan (2020)                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2643581 | PA      | $2617145.38    | 0.05%             | 2028-02-10      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| TSS Buyer, LLC                                                                                  | TSS Buyer, LLC/2023 Incremental Term Loan 06/22                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     255117 | PA      | $255116.77     | 0.01%             | 2029-06-22      | Floating      | 8.69%                 | No            |                  3 | On Loan: No      |
| Phoenix Operating LLC                                                                           | Phoenix Operating LLC/Tranche G Loan 10/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2310320 | PA      | $2310320.00    | 0.05%             | 2028-10-27      | Floating      | 10.80%                | No            |                  3 | On Loan: No      |
| Bamboo US BidCo LLC                                                                             | Bamboo US BidCo LLC/Tranche B-2 DDTL 11/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     982010 | PA      | $982010.00     | 0.02%             | 2030-09-30      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Knight AcquireCo, LLC                                                                           | Knight AcquireCo, LLC/ Delayed Draw Term Loan 11/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     692791 | PA      | $685863.09     | 0.01%             | 2032-11-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ML Holdco, Inc.                                                                                 | ML Holdco, Inc./Initial Term Loan 10/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   18228741 | PA      | $17864166.18   | 0.36%             | 2032-10-25      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| ML Holdco, Inc.                                                                                 | ML Holdco, Inc./Delayed Draw Term Loan 10/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4742128 | PA      | $4647285.44    | 0.09%             | 2032-10-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Knight AcquireCo, LLC                                                                           | Knight AcquireCo, LLC/ Term Loan 11/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2078372 | PA      | $2057588.28    | 0.04%             | 2032-11-08      | Floating      | 8.16%                 | No            |                  3 | On Loan: No      |
| Rawlings Sporting Goods Company, Inc.                                                           | Rawlings Sporting Goods Company, Inc./Fourth Amendment Incremental Term Loan 11/24                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     883838 | PA      | $883838.15     | 0.02%             | 2030-11-26      | Floating      | 8.60%                 | No            |                  3 | On Loan: No      |
| StepStone Boulder II, L.P.                                                                      | StepStone Boulder II, L.P./ Class B Notes 03/26                                                                               | CUSIP: 859133AC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       1000 | PA      | $994.00        | 0.00%             | 2041-04-30      | Floating      | 8.55%                 | No            |                  3 | On Loan: No      |
| StepStone Boulder II, L.P.                                                                      | StepStone Boulder II, L.P./ Class C Notes 03/26                                                                               | CUSIP: 859133AE0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    7604000 | PA      | $7604000.00    | 0.15%             | 2041-04-30      | Floating      | 12.08%                | No            |                  3 | On Loan: No      |
| TCI Buyer LLC                                                                                   | TCI Buyer LLC/Term Loan 11/24                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   12287902 | PA      | $12287902.30   | 0.25%             | 2030-11-25      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| TCI Buyer LLC                                                                                   | TCI Buyer LLC/Revolver 11/24                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3017374 | PA      | $3017374.00    | 0.06%             | 2030-11-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| TCI Buyer LLC                                                                                   | TCI Buyer LLC/Delayed Draw Term Loan 11/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6705479 | PA      | $6705479.00    | 0.14%             | 2030-11-25      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| RRAM 2025-42                                                                                    | RRAM 2025-42A SUB                                                                                                             | CUSIP: 40256JAC9<br>LEI: 549300V317BEVFPNAZ66 | Long             | ABS-O            | CORP              | KY        |    4070706 | PA      | $2478363.86    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RRAM 2024-29R                                                                                   | RRAM 2024-29RA SUB                                                                                                            | CUSIP: 40256XAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    8025000 | PA      | $4125347.55    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sunvair Aerospace Group, Inc.                                                                   | Sunvair Aerospace Group, Inc./Initial Term Loan 5/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1750965 | PA      | $1750964.58    | 0.04%             | 2031-05-30      | Floating      | 8.69%                 | No            |                  3 | On Loan: No      |
| Sunvair Aerospace Group, Inc.                                                                   | Sunvair Aerospace Group, Inc./Revolver 5/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     653053 | PA      | $653053.00     | 0.01%             | 2031-05-30      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Frontline Road Safety Operations, LLC                                                           | Frontline Road Safety Operations, LLC/Amendment No. 1 Delayed Draw Term Loan 03/25                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     614272 | PA      | $608129.41     | 0.01%             | 2032-03-04      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Cardinal Parent, Inc.                                                                           | Cardinal Parent, Inc./Term Loan B 10/20                                                                                       | CUSIP: 14153EAC9<br>LEI: 5493009YXQNPN3HQQH84 | Long             | LON              | CORP              | US        |    4276420 | PA      | $3966379.50    | 0.08%             | 2027-11-12      | Floating      | 8.35%                 | No            |                  2 | On Loan: No      |
| Artifact Bidco, Inc.                                                                            | Artifact Bidco, Inc./Revolver Multi-Currency 5/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      89067 | PA      | $89067.00      | 0.00%             | 2030-07-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| HAMLN 2024-1                                                                                    | HAMLN 2024-1A E                                                                                                               | CUSIP: 407908AA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    2017500 | PA      | $1929292.88    | 0.04%             | 2037-10-20      | Floating      | 9.07%                 | Yes           |                  3 | On Loan: No      |
| PumpTech, LLC                                                                                   | PumpTech, LLC/Initial Term Loan 1/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2022514 | PA      | $1941612.99    | 0.04%             | 2031-01-24      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Foundation Risk Partners, Corp.                                                                 | Foundation Risk Partners, Corp./Amendment No. 1 Term Loan 4/22                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3237282 | PA      | $3237282.13    | 0.07%             | 2030-10-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Foundation Risk Partners, Corp.                                                                 | Foundation Risk Partners, Corp./Amendment No. 1 Delayed Draw Term Loan 4/22                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   13050753 | PA      | $13050752.94   | 0.27%             | 2030-10-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Crossco (1469) Limited                                                                          | Crossco (1469) Limited/Facility B Commitment 12/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1935483 | PA      | $2561789.23    | 0.05%             | 2030-12-20      | Floating      | 9.97%                 | No            |                  3 | On Loan: No      |
| Enigma Acquisition B.V.                                                                         | Enigma Acquisition B.V./Facility B 01/21                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    4500980 | PA      | $5202482.38    | 0.11%             | 2028-01-26      | Floating      | 7.12%                 | No            |                  3 | On Loan: No      |
| Bumble Bidco Limited                                                                            | Bumble Bidco Limited/Facility B 10/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3541666 | PA      | $4687719.72    | 0.10%             | 2030-10-25      | Floating      | 10.50%                | No            |                  3 | On Loan: No      |
| GTCR Everest Borrower, LLC                                                                      | GTCR Everest Borrower, LLC/Multi-Currency Revolver 9/24                                                                       | CUSIP: 36269YAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     211403 | PA      | $209288.97     | 0.00%             | 2029-09-05      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| IQN Holding Corp.                                                                               | IQN Holding Corp./Initial Term Loan 5/22                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6759682 | PA      | $6759682.42    | 0.14%             | 2029-05-02      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| Sun Acquirer Corp.                                                                              | Sun Acquirer Corp./Amendment No. 6 Funded Term Loan 11/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     194615 | PA      | $192669.10     | 0.00%             | 2028-09-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Sun Acquirer Corp.                                                                              | Sun Acquirer Corp./Amendment No. 6 Delayed Draw Term Loan 11/24                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   12675879 | PA      | $12549119.75   | 0.25%             | 2028-09-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| HPPK 2024-1                                                                                     | HPPK 2024-1A SUB                                                                                                              | CUSIP: 412914AC7<br>LEI: 2138009L3HEW9A8LDJ44 | Long             | ABS-O            | CORP              | JE        |    2900000 | PA      | $1541692.20    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)                                            | Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)/ 2025 Incremental Term Loan 10/25                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2773810 | PA      | $2773810.00    | 0.06%             | 2032-03-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)                                            | Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)/ 2025 Delayed Draw Term Loan 10/25                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1155754 | PA      | $1155754.00    | 0.02%             | 2032-03-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Empower Payments Investor, LLC                                                                  | Empower Payments Investor, LLC/ Delayed Draw Term Loan 2/26                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     170615 | PA      | $170615.00     | 0.00%             | 2031-03-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Accommodations Plus Technologies LLC                                                            | Accommodations Plus Technologies LLC/Revolver 5/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     218538 | PA      | $218538.00     | 0.00%             | 2032-05-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Edmunds GovTech, Inc.                                                                           | Edmunds GovTech, Inc./Delayed Draw Term Loan 2/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     385049 | PA      | $385048.68     | 0.01%             | 2031-02-26      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Jeppesen Holdings, LLC                                                                          | Jeppesen Holdings, LLC/ Initial Term Loan 10/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1235295 | PA      | $1222942.05    | 0.02%             | 2032-11-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Jeppesen Holdings, LLC                                                                          | Jeppesen Holdings, LLC/ Revolver 10/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      65680 | PA      | $65023.20      | 0.00%             | 2032-11-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| People Corporation                                                                              | People Corporation/Delayed Draw 3 Term Loan 9/23                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    3428714 | PA      | $2464750.08    | 0.05%             | 2031-02-18      | Floating      | 7.57%                 | No            |                  3 | On Loan: No      |
| Edmunds GovTech, Inc.                                                                           | Edmunds GovTech, Inc./First Tranche Revolver 2/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      32100 | PA      | $32099.50      | 0.00%             | 2030-02-26      | Floating      | 7.45%                 | No            |                  3 | On Loan: No      |
| W.S. Connelly & Co., LLC                                                                        | W.S. Connelly & Co., LLC/Revolver B 5/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1016046 | PA      | $1016046.29    | 0.02%             | 2030-05-24      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| Metatiedot Bidco Oy                                                                             | Metatiedot Bidco Oy/Term Loan (EUR) 11/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    2757250 | PA      | $3155112.93    | 0.06%             | 2031-11-27      | Floating      | 7.02%                 | No            |                  3 | On Loan: No      |
| Metatiedot Bidco Oy                                                                             | Metatiedot Bidco Oy/Term Loan (USD) 11/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    2065330 | PA      | $2044676.70    | 0.04%             | 2031-11-27      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Metatiedot Bidco Oy                                                                             | Metatiedot Bidco Oy/Delayed Draw Term Loan (EUR) 11/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |     246244 | PA      | $281776.16     | 0.01%             | 2031-11-27      | Floating      | 7.02%                 | No            |                  3 | On Loan: No      |
| Metatiedot Bidco Oy                                                                             | Metatiedot Bidco Oy/Revolver (EUR) 11/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |     562311 | PA      | $643450.82     | 0.01%             | 2030-11-27      | Floating      | 7.16%                 | No            |                  3 | On Loan: No      |
| Bamboo US BidCo LLC                                                                             | Bamboo US BidCo LLC/Repriced USD Delayed Draw Term Loan 11/24                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     404115 | PA      | $404114.75     | 0.01%             | 2030-09-30      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Bamboo US BidCo LLC                                                                             | Bamboo US BidCo LLC/Repriced USD Term Loan 11/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2641510 | PA      | $2641510.39    | 0.05%             | 2030-09-30      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Bamboo US BidCo LLC                                                                             | Bamboo US BidCo LLC/Repriced EUR Term Loan 11/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2115215 | PA      | $2444883.46    | 0.05%             | 2030-09-30      | Floating      | 7.03%                 | No            |                  3 | On Loan: No      |
| Bamboo US BidCo LLC                                                                             | Bamboo US BidCo LLC/Repriced Revolver 11/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1413108 | PA      | $1413108.00    | 0.03%             | 2029-10-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Watermill Express, LLC                                                                          | Watermill Express, LLC/Term Loan 4/21                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2207634 | PA      | $2207633.76    | 0.04%             | 2031-04-30      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Watermill Express, LLC                                                                          | Watermill Express, LLC/Delayed Draw Term Loan 4/21                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     213192 | PA      | $213191.92     | 0.00%             | 2031-04-30      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Watermill Express, LLC                                                                          | Watermill Express, LLC/Revolver 4/21                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     561191 | PA      | $561191.18     | 0.01%             | 2031-04-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Flexsys Cayman Holdings, LP                                                                     | Flexsys Cayman Holdings, LP/First Out Term Loan 05/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3930693 | PA      | $2112747.40    | 0.04%             | 2029-08-01      | Floating      | 9.92%                 | No            |                  2 | On Loan: No      |
| Flexsys Cayman Holdings, LP                                                                     | Flexsys Cayman Holdings, LP/Second Out Refinancing Term Loan 05/25                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8702730 | PA      | $529387.06     | 0.01%             | 2029-08-01      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| King Risk Partners, LLC                                                                         | King Risk Partners, LLC/Amendment No. 1 Delayed Draw Term Loan 1/26                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1445944 | PA      | $1445944.00    | 0.03%             | 2031-04-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Himalaya TopCo LLC                                                                              | Himalaya TopCo LLC/Revolver 5/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9314399 | PA      | $9314399.12    | 0.19%             | 2032-06-03      | Floating      | 8.44%                 | No            |                  3 | On Loan: No      |
| Himalaya TopCo LLC                                                                              | Himalaya TopCo LLC/Initial Term Loan 5/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   53900435 | PA      | $53900434.64   | 1.09%             | 2032-06-03      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Himalaya TopCo LLC                                                                              | Himalaya TopCo LLC/Delayed Draw Term Loan 5/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7699075 | PA      | $7622084.27    | 0.15%             | 2032-06-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Creek Parent, Inc.                                                                              | Creek Parent, Inc./Initial Term Loan 12/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   41707998 | PA      | $41707998.08   | 0.85%             | 2031-12-18      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Creek Parent, Inc.                                                                              | Creek Parent, Inc./Multi-Currency Revolver 12/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7992037 | PA      | $7992037.00    | 0.16%             | 2031-12-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| LeanTaaS Holdings, Inc.                                                                         | LeanTaaS Holdings, Inc./ Delayed Draw Term Loan Tranche D 10/25                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     660094 | PA      | $646892.12     | 0.01%             | 2028-07-12      | Floating      | 11.45%                | No            |                  3 | On Loan: No      |
| CB-SDG Limited                                                                                  | CB-SDG Limited/Facility B GBP 03/22                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2016731 | PA      | $625288.79     | 0.01%             | 2028-04-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Network Bidco B.V.                                                                              | Network Bidco B.V./ Acquisition/Capex Facility Tranche 3 01/26                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    3257244 | PA      | $3764903.60    | 0.08%             | 2031-05-12      | Floating      | 7.13%                 | No            |                  3 | On Loan: No      |
| VPP Intermediate Holdings, LLC                                                                  | VPP Intermediate Holdings, LLC/Amendment No. 5 Delayed Draw Term Loan 1/25                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1989854 | PA      | $1989854.38    | 0.04%             | 2027-12-01      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| KNPC Holdco, LLC                                                                                | KNPC Holdco, LLC/New Term Loan 4/22                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2012400 | PA      | $2012400.42    | 0.04%             | 2029-10-22      | Floating      | 9.27%                 | No            |                  3 | On Loan: No      |
| Watermill Express, LLC                                                                          | Watermill Express, LLC/Second Amendment Incremental DDTL 1/24                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     208442 | PA      | $208441.81     | 0.00%             | 2031-04-30      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Mitchell International, Inc.                                                                    | Mitchell International, Inc./Eight-Year Second-Lien Term Loan 06/24                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   15737027 | PA      | $14079761.11   | 0.29%             | 2032-06-17      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| HighTower Holding, LLC                                                                          | HIGTOW 6.75% Sr Unsecured Nts due 2029 144A                                                                                   | CUSIP: 43118DAA8<br>LEI: 254900MKOSB7RTMA9K12 | Long             | DBT              | CORP              | US        |    3280000 | PA      | $3206165.89    | 0.07%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Rubicone Bidco Limited                                                                          | Rubicone Bidco Limited/Incremental Unitranche Facility 05/22                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     169772 | PA      | $224708.44     | 0.00%             | 2028-12-01      | Floating      | 10.36%                | No            |                  3 | On Loan: No      |
| Excel Fitness Consolidator LLC                                                                  | Excel Fitness Consolidator LLC/Revolver 04/22                                                                                 | CUSIP: 30065EAP3<br>LEI: 549300C2NQL773WZ9F32 | Long             | LON              | CORP              | US        |      41953 | PA      | $41953.00      | 0.00%             | 2030-04-29      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Stepstone Group MidCo 2 GmbH, The                                                               | Stepstone Group MidCo 2 GmbH, The/Term Loan 11/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DE        |    6000000 | PA      | $6038975.45    | 0.12%             | 2032-04-26      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| Bellwether Buyer, L.L.C.                                                                        | Bellwether Buyer, L.L.C./Delayed Draw Term Loan 04/25                                                                         | CUSIP: 07989BAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    1092226 | PA      | $1092226.00    | 0.02%             | 2032-04-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| WebPT, Inc.                                                                                     | WebPT, Inc./Initial Term Loan 08/19                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2056311 | PA      | $1871243.06    | 0.04%             | 2028-01-18      | Floating      | 10.05%                | No            |                  3 | On Loan: No      |
| Create Music Holdings, LLC                                                                      | Create Music Holdings, LLC/ Term Loan 2/26                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1255137 | PA      | $1233172.10    | 0.03%             | 2033-02-18      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| Create Music Holdings, LLC                                                                      | Create Music Holdings, LLC/ Delayed Draw Term Loan 2/26                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     753082 | PA      | $746492.53     | 0.02%             | 2033-02-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| eCapital Finance Corp.                                                                          | eCapital Finance Corp./Second Incremental Term Loan 4/22                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |   20620635 | PA      | $20414428.65   | 0.41%             | 2029-09-29      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| WebPT, Inc.                                                                                     | WebPT, Inc./Revolving Loan 08/19                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     216015 | PA      | $196573.84     | 0.00%             | 2028-01-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wellington Bidco Inc.                                                                           | Wellington Bidco Inc./Revolver 6/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     803753 | PA      | $795715.47     | 0.02%             | 2030-06-05      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| HH-Stella, Inc.                                                                                 | HH-Stella, Inc./Term Loan 4/21                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5906793 | PA      | $5906793.44    | 0.12%             | 2028-04-24      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| HH-Stella, Inc.                                                                                 | HH-Stella, Inc./Delayed Draw Term Loan 4/21                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1056710 | PA      | $1056710.27    | 0.02%             | 2028-04-24      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| HH-Stella, Inc.                                                                                 | HH-Stella, Inc./Revolver 4/21                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     444098 | PA      | $444097.74     | 0.01%             | 2027-04-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Northwinds Holding, Inc.                                                                        | Northwinds Holding, Inc./2025 Delayed Draw Term Loan 6/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     646274 | PA      | $646274.10     | 0.01%             | 2029-05-01      | Floating      | 9.08%                 | No            |                  3 | On Loan: No      |
| IQN Holding Corp.                                                                               | IQN Holding Corp./Revolver 05/22                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     628422 | PA      | $628422.00     | 0.01%             | 2028-05-02      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Pathstone Family Office LLC                                                                     | Pathstone Family Office LLC/Third Amendment Term Loan 11/24                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3982760 | PA      | $3982760.10    | 0.08%             | 2029-05-15      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| Two Six Labs, LLC                                                                               | Two Six Labs, LLC/ 2025 Term Loan 10/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     724157 | PA      | $724157.07     | 0.01%             | 2027-08-20      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Werner FinCo LP                                                                                 | Werner FinCo LP/Initial Term Loan 6/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   38714944 | PA      | $38714943.75   | 0.79%             | 2031-06-16      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Foundation Consumer Brands, LLC                                                                 | Foundation Consumer Brands, LLC/2023 Term Loan 06/23                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6350590 | PA      | $6350590.12    | 0.13%             | 2029-02-12      | Floating      | 8.80%                 | No            |                  3 | On Loan: No      |
| Flash Charm, Inc.                                                                               | Flash Charm, Inc./Term Loan 06/24                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4692640 | PA      | $3690761.01    | 0.07%             | 2028-03-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| ITT Holdings LLC                                                                                | INTMAT 6.5% Sr Unsecured Nts due 2029 144A                                                                                    | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |   13884000 | PA      | $13495994.96   | 0.27%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Legends Hospitality Holding Company, LLC                                                        | Legends Hospitality Holding Company, LLC/Term Loan 08/2024                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6212089 | PA      | $6149967.76    | 0.12%             | 2031-08-22      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Legends Hospitality Holding Company, LLC                                                        | Legends Hospitality Holding Company, LLC/Delayed Draw Term Loan 8/24                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     352980 | PA      | $349449.99     | 0.01%             | 2031-08-22      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| Legends Hospitality Holding Company, LLC                                                        | Legends Hospitality Holding Company, LLC/Revolver 8/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     599311 | PA      | $593317.89     | 0.01%             | 2030-08-22      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| AX VI INV3 Holding AB                                                                           | AX VI INV3 Holding AB/ Capex Facility 2 06/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    2071372 | PA      | $2394206.85    | 0.05%             | 2031-08-13      | Floating      | 7.71%                 | No            |                  3 | On Loan: No      |
| RB Holdings Interco, LLC                                                                        | RB Holdings Interco, LLC/Term Loan 05/22                                                                                      | CUSIP: 74935MAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    3647032 | PA      | $3501150.93    | 0.07%             | 2028-05-04      | Floating      | 9.07%                 | No            |                  3 | On Loan: No      |
| RB Holdings Interco, LLC                                                                        | RB Holdings Interco, LLC/Revolving Credit 05/22                                                                               | CUSIP: 74935MAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     697730 | PA      | $669820.80     | 0.01%             | 2028-05-04      | Floating      | 8.82%                 | No            |                  3 | On Loan: No      |
| Mimecast Borrowerco, Inc.                                                                       | Mimecast Borrowerco, Inc./Dollar Term Loan 5/22                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   37218525 | PA      | $36846340.05   | 0.75%             | 2029-05-18      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Mimecast Borrowerco, Inc.                                                                       | Mimecast Borrowerco, Inc./Pounds Sterling Term Loan 5/22                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6823716 | PA      | $8941495.06    | 0.18%             | 2029-05-18      | Floating      | 8.23%                 | No            |                  3 | On Loan: No      |
| Flint Opco, LLC                                                                                 | Flint Opco, LLC/Initial Term Loan 8/23                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1010362 | PA      | $1010361.60    | 0.02%             | 2030-08-15      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| AllClear Military Inc.                                                                          | AllClear Military Inc./First Out Revolver 5/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     162179 | PA      | $162179.21     | 0.00%             | 2030-05-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Signant Finance One Limited                                                                     | Signant Finance One Limited/ 2025 Incremental Term Loan 10/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     307959 | PA      | $304879.41     | 0.01%             | 2031-10-16      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Signant Finance One Limited                                                                     | Signant Finance One Limited/ 2025 Delayed Draw Term Loan 10/25                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      71067 | PA      | $70711.67      | 0.00%             | 2031-10-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Signant Finance One Limited                                                                     | Signant Finance One Limited/2025 Revolver 10/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      53983 | PA      | $53443.17      | 0.00%             | 2031-10-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Flint Opco, LLC                                                                                 | Flint Opco, LLC/Delayed Draw Term Loan 08/2023                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     426476 | PA      | $426475.65     | 0.01%             | 2030-08-15      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Empower Payments Investor, LLC                                                                  | Empower Payments Investor, LLC/Second Amendment Incremental Term Loan 6/25                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     116236 | PA      | $116235.90     | 0.00%             | 2031-03-12      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Premise Health Holding Corp.                                                                    | Premise Health Holding Corp./ Amendment No. 1  Delay Draw Term Loan 11/25                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     564285 | PA      | $564285.00     | 0.01%             | 2032-11-08      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Flint Opco, LLC                                                                                 | Flint Opco, LLC/Revolver 8/23                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $1000.00       | 0.00%             | 2029-08-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| QBS Parent, Inc.                                                                                | QBS Parent, Inc./Amendment No. 2 Revolving Loan 06/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     487591 | PA      | $477839.18     | 0.01%             | 2032-06-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Box Bidco Limited                                                                               | Box Bidco Limited/ Facility B2 / 10/27                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     878325 | PA      | $1015216.84    | 0.02%             | 2028-11-24      | Floating      | 9.29%                 | No            |                  3 | On Loan: No      |
| Erasmus Acquisition Holding B.V.                                                                | Erasmus Acquisition Holding B.V./Additional Facility 06/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     630327 | PA      | $728566.97     | 0.01%             | 2030-03-13      | Floating      | 7.75%                 | No            |                  3 | On Loan: No      |
| Integer Holdings Corp                                                                           | ITGR 1.875% Sr Unsecured Nts due 2030                                                                                         | CUSIP: 45826HAD1<br>LEI: 549300SUD2ED5XG6X569 | Long             | DBT              | CORP              | US        |    1494000 | PA      | $1426023.00    | 0.03%             | 2030-03-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Denali Intermediate Holdings, Inc.                                                              | Denali Intermediate Holdings, Inc./Initial Term Loan 8/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   67625320 | PA      | $67625319.98   | 1.37%             | 2032-08-26      | Floating      | 9.18%                 | No            |                  3 | On Loan: No      |
| Denali Intermediate Holdings, Inc.                                                              | Denali Intermediate Holdings, Inc./Multi Currency Revolver 8/25                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7443193 | PA      | $7443193.00    | 0.15%             | 2032-08-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Redwood Services, LP                                                                            | Redwood Services, LP/Revolver 6/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     318070 | PA      | $318070.00     | 0.01%             | 2032-06-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Redwood Services, LP                                                                            | Redwood Services, LP/Closing Date Term Loan 6/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2341351 | PA      | $2341351.00    | 0.05%             | 2032-06-16      | Floating      | 7.95%                 | No            |                  3 | On Loan: No      |
| Redwood Services, LP                                                                            | Redwood Services, LP/Delayed Draw Term Loan 6/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     739374 | PA      | $739374.00     | 0.02%             | 2032-06-16      | Floating      | 7.95%                 | No            |                  3 | On Loan: No      |
| INVCO 2021-2                                                                                    | INVCO 2021-2A SUB                                                                                                             | CUSIP: 46091AAB6<br>LEI: 54930008KRIBK4JIR608 | Long             | ABS-O            | CORP              | KY        |     440000 | PA      | $66766.92      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INVCO 2021-2                                                                                    | INVCO 2021-2A Y                                                                                                               | CUSIP: 46091AAC4<br>LEI: 54930008KRIBK4JIR608 | Long             | ABS-O            | CORP              | KY        |      44000 | PA      | $8568.82       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Poseidon Intermediateco, Inc.                                                                   | Poseidon Intermediateco, Inc./Delayed Draw Term Loan 6/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     229245 | PA      | $229245.00     | 0.00%             | 2032-06-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BR PJK Produce, LLC                                                                             | BR PJK Produce, LLC/Term A-6 Term Loan 9/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      94422 | PA      | $94421.80      | 0.00%             | 2027-11-15      | Floating      | 10.06%                | No            |                  3 | On Loan: No      |
| Poseidon Intermediateco, Inc.                                                                   | Poseidon Intermediateco, Inc./Revolver 6/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     117580 | PA      | $117580.00     | 0.00%             | 2031-06-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| INVCO 2021-3                                                                                    | INVCO 2021-3A Y                                                                                                               | CUSIP: 46145KAC8<br>LEI: 5493000BVI47XOSBML18 | Long             | ABS-O            | CORP              | KY        |     270000 | PA      | $59934.87      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INVCO 2021-3                                                                                    | INVCO 2021-3A SUB                                                                                                             | CUSIP: 46145KAE4<br>LEI: 5493000BVI47XOSBML18 | Long             | ABS-O            | CORP              | KY        |    2700000 | PA      | $498160.80     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INVCO 2023-1                                                                                    | INVCO 2023-1A Y                                                                                                               | CUSIP: 46146KAE3<br>LEI: 54930008KXQ75MGXPQ71 | Long             | ABS-O            | CORP              | JE        |     269500 | PA      | $100876.28     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INVCO 2023-1                                                                                    | INVCO 2023-1A SUB                                                                                                             | CUSIP: 46146KAG8<br>LEI: 54930008KXQ75MGXPQ71 | Long             | ABS-O            | CORP              | JE        |    2695000 | PA      | $1260324.84    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INVCO 2023-2                                                                                    | INVCO 2023-2A ER                                                                                                              | CUSIP: 46147LAE0<br>LEI: 2549000VWIHWVWECHQ22 | Long             | ABS-CBDO         | CORP              | JE        |    1600000 | PA      | $1553568.00    | 0.03%             | 2038-04-21      | Floating      | 11.55%                | Yes           |                  3 | On Loan: No      |
| Elevation Services Parent Holdings, LLC                                                         | Elevation Services Parent Holdings, LLC/Third Amendment Incremental Term Loan 5/22                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     611971 | PA      | $611971.13     | 0.01%             | 2028-12-18      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| Elevation Services Parent Holdings, LLC                                                         | Elevation Services Parent Holdings, LLC/Third Amendment Incremental Delayed Draw Term Loan 5/22                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     366654 | PA      | $366654.18     | 0.01%             | 2028-12-18      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| Avia Pharma AB                                                                                  | Avia Pharma AB/ Acquisition Facility 2 (SEK) 02/26                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    3120498 | PA      | $329630.65     | 0.01%             | 2033-02-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Avia Pharma AB                                                                                  | Avia Pharma AB/ Acquisition Facility 1 (SEK) 02/26                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    4457855 | PA      | $470901.01     | 0.01%             | 2033-02-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| FTAI Infrastructure Inc.                                                                        | FTAI Infrastructure Inc./ Term Loan 2/26                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   15803190 | PA      | $15329094.30   | 0.31%             | 2028-02-01      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| Quick Quack Car Wash Holdings, LLC                                                              | Quick Quack Car Wash Holdings, LLC/2025 Incremental Delayed Draw Term Loan 6/25                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     323613 | PA      | $323612.91     | 0.01%             | 2031-06-10      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Odevo AB                                                                                        | Odevo AB/Facility B EUR Commitment 11/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    2828933 | PA      | $3269838.21    | 0.07%             | 2030-12-31      | Floating      | 7.36%                 | No            |                  3 | On Loan: No      |
| Odevo AB                                                                                        | Odevo AB/Facility B GBP Commitment 11/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    9497886 | PA      | $12571322.73   | 0.26%             | 2030-12-31      | Floating      | 9.01%                 | No            |                  3 | On Loan: No      |
| Odevo AB                                                                                        | Odevo AB/Facility B SEK Commitment 11/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |   78159864 | PA      | $8256338.17    | 0.17%             | 2030-12-31      | Floating      | 7.21%                 | No            |                  3 | On Loan: No      |
| Odevo AB                                                                                        | Odevo AB/Facility B USD Commitment 11/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    8731472 | PA      | $8731471.52    | 0.18%             | 2030-12-31      | Floating      | 8.96%                 | No            |                  3 | On Loan: No      |
| Platinum Credit Bidco Limited                                                                   | Platinum Credit Bidco Limited/Interim Unitranche Facility 05/22                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |   27960244 | PA      | $37007946.71   | 0.75%             | 2029-11-09      | Floating      | 9.98%                 | No            |                  3 | On Loan: No      |
| CB-SDG Limited                                                                                  | CB-SDG Limited/ Facility C 11/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      81962 | PA      | $108483.80     | 0.00%             | 2027-04-02      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Dedomena Bidco Limited                                                                          | Dedomena Bidco Limited/Senior Term Facility 06/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     705882 | PA      | $934299.56     | 0.02%             | 2032-06-25      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Dedomena Bidco Limited                                                                          | Dedomena Bidco Limited/Acquisition Facility 06/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     294118 | PA      | $389292.14     | 0.01%             | 2032-06-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Jones Fish Hatcheries & Distributors, LLC                                                       | Jones Fish Hatcheries & Distributors, LLC/ Initial Term Loan 11/25                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     938643 | PA      | $929256.57     | 0.02%             | 2032-11-19      | Floating      | 7.90%                 | No            |                  3 | On Loan: No      |
| Jones Fish Hatcheries & Distributors, LLC                                                       | Jones Fish Hatcheries & Distributors, LLC/ Initial Delayed Draw Term Loan 11/25                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     938643 | PA      | $933879.03     | 0.02%             | 2032-11-19      | Floating      | 7.90%                 | No            |                  3 | On Loan: No      |
| Jones Fish Hatcheries & Distributors, LLC                                                       | Jones Fish Hatcheries & Distributors, LLC/ Revolver 11/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     254135 | PA      | $251593.65     | 0.01%             | 2032-11-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A1                                                                                                           | CUSIP: 46664MAA9<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $991.56        | 0.00%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A1IO                                                                                                         | CUSIP: 46664MAE1<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $36.89         | 0.00%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A1F                                                                                                          | CUSIP: 46664MAF8<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |        981 | PA      | $977.08        | 0.00%             | 2066-04-25      | Floating      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A1X                                                                                                          | CUSIP: 46664MAG6<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $51.92         | 0.00%             | 2066-04-25      | Floating      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A2                                                                                                           | CUSIP: 46664MAH4<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $981.41        | 0.00%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A2IO                                                                                                         | CUSIP: 46664MAM3<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $63.38         | 0.00%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A2F                                                                                                          | CUSIP: 46664MAN1<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $993.50        | 0.00%             | 2066-04-25      | Floating      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A2X                                                                                                          | CUSIP: 46664MAP6<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $83.01         | 0.00%             | 2066-04-25      | Floating      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A3                                                                                                           | CUSIP: 46664MAQ4<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $983.53        | 0.00%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A3IO                                                                                                         | CUSIP: 46664MAU5<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $67.41         | 0.00%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A3F                                                                                                          | CUSIP: 46664MAV3<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $991.38        | 0.00%             | 2066-04-25      | Floating      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 A3X                                                                                                          | CUSIP: 46664MAW1<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $76.92         | 0.00%             | 2066-04-25      | Floating      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 M1                                                                                                           | CUSIP: 46664MBR1<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $985.53        | 0.00%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 B1                                                                                                           | CUSIP: 46664MBS9<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |       1000 | PA      | $993.97        | 0.00%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 B2                                                                                                           | CUSIP: 46664MBT7<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |    7071483 | PA      | $7003140.65    | 0.14%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 B3                                                                                                           | CUSIP: 46664MBU4<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |    5132514 | PA      | $5147434.22    | 0.10%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 AIOS                                                                                                         | CUSIP: 46664MBV2<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |  228111468 | PA      | $804115.74     | 0.02%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| JPMMT 2026-ACES1                                                                                | JPMMT 2026-ACES1 XS                                                                                                           | CUSIP: 46664MBW0<br>LEI: 529900YPO46YLJDFF157 | Long             | ABS-MBS          | CORP              | US        |  228111468 | PA      | $12118330.49   | 0.25%             | 2066-04-25      | Variable      | 4.65%                 | Yes           |                  3 | On Loan: No      |
| Quirch Foods Holdings, LLC                                                                      | Quirch Foods Holdings, LLC/ Term Loan 11/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7281153 | PA      | $7208341.67    | 0.15%             | 2030-11-12      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| Quirch Foods Holdings, LLC                                                                      | Quirch Foods Holdings, LLC/ Delayed Draw Term Loan 11/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     532101 | PA      | $526780.28     | 0.01%             | 2030-11-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Viper Bidco, Inc.                                                                               | Viper Bidco, Inc./Initial Term Loan (USD) 11/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5157163 | PA      | $5105591.13    | 0.10%             | 2031-11-21      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Viper Bidco, Inc.                                                                               | Viper Bidco, Inc./Initial Term Loan (GBP) 11/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2192118 | PA      | $2872455.02    | 0.06%             | 2031-11-21      | Floating      | 8.48%                 | No            |                  3 | On Loan: No      |
| Viper Bidco, Inc.                                                                               | Viper Bidco, Inc./Delayed Draw Term Loan 11/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     331465 | PA      | $328149.91     | 0.01%             | 2031-11-21      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Viper Bidco, Inc.                                                                               | Viper Bidco, Inc./Revolver 11/24                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     618223 | PA      | $612040.77     | 0.01%             | 2031-11-21      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Ensono, Inc.                                                                                    | Ensono, Inc./Initial Term loan 05/21                                                                                          | CUSIP: 29359DAB3<br>LEI: 5493003GTMBHX0VZAW67 | Long             | LON              | CORP              | US        |   23423402 | PA      | $21712088.63   | 0.44%             | 2028-05-26      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| Sigma Electric Manufacturing Corporation                                                        | Sigma Electric Manufacturing Corporation/Term Loan A2 10/17                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     304509 | PA      | $304509.41     | 0.01%             | 2027-12-31      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| Sigma Electric Manufacturing Corporation                                                        | Sigma Electric Manufacturing Corporation/Revolving Credit 10/17                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      82366 | PA      | $82365.59      | 0.00%             | 2027-12-31      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| Gilfoyle Bidco AB                                                                               | Gilfoyle Bidco AB/Facility B SEK 09/21                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |   80291064 | PA      | $6224782.36    | 0.13%             | 2028-09-04      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Gilfoyle Bidco AB                                                                               | Gilfoyle Bidco AB/Capex Facility SEK 09/21                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |   13634630 | PA      | $1057061.67    | 0.02%             | 2028-09-04      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Precision Concepts Parent Inc.                                                                  | Precision Concepts Parent Inc./ Term Loan 10/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     198958 | PA      | $196968.42     | 0.00%             | 2032-08-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Property Finder Mercury Ltd                                                                     | Property Finder Mercury Ltd/ Acquisition Capex Facility 12/25 Property Finder Mercury Ltd                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | AE        |     739726 | PA      | $739726.00     | 0.02%             | 2032-12-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Property Finder Mercury Ltd                                                                     | Property Finder Mercury Ltd/ Facility B 12/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | AE        |    1849315 | PA      | $1849315.00    | 0.04%             | 2032-12-16      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Saldon Holdings, Inc.                                                                           | Saldon Holdings, Inc./Term Loan 1/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1095877 | PA      | $1095876.63    | 0.02%             | 2028-03-13      | Floating      | 9.02%                 | No            |                  3 | On Loan: No      |
| WEC US Holdings Inc.                                                                            | WEC US Holdings Inc./Term Loan B 01/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   19542070 | PA      | $19499272.92   | 0.40%             | 2031-01-27      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| The Ultimus Group Midco, LLC                                                                    | The Ultimus Group Midco, LLC/Revolver 6/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     252394 | PA      | $252394.00     | 0.01%             | 2032-07-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| The Ultimus Group Midco, LLC                                                                    | The Ultimus Group Midco, LLC/Initial Term Loan 7/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1946541 | PA      | $1946541.00    | 0.04%             | 2032-07-01      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| The Ultimus Group Midco, LLC                                                                    | The Ultimus Group Midco, LLC/Delayed Draw Term Loan 7/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     648847 | PA      | $648847.00     | 0.01%             | 2032-07-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Symplr Software Inc.                                                                            | Symplr Software Inc./1L Term Loan 1/24                                                                                        | CUSIP: 87190HAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    1818795 | PA      | $1309532.50    | 0.03%             | 2027-12-22      | Floating      | 9.02%                 | No            |                  3 | On Loan: No      |
| Project Castle, Inc.                                                                            | Project Castle, Inc./Term Loan B 05/22                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8678290 | PA      | $4628392.50    | 0.09%             | 2029-06-01      | Floating      | 9.36%                 | No            |                  2 | On Loan: No      |
| Banyan Software Holdings, LLC                                                                   | Banyan Software Holdings, LLC/Initial Term Loan 12/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4731576 | PA      | $4731576.01    | 0.10%             | 2031-01-02      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Sigma Electric Manufacturing Corporation                                                        | Sigma Electric Manufacturing Corporation/ Seventeenth Amendment Tranche A-2 Delayed Draw Term Loan 11/25                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     125819 | PA      | $125819.00     | 0.00%             | 2027-12-31      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| AllClear Military Inc.                                                                          | AllClear Military Inc./Term Loan A 5/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     806860 | PA      | $806860.15     | 0.02%             | 2030-05-31      | Floating      | 9.40%                 | No            |                  3 | On Loan: No      |
| AllClear Military Inc.                                                                          | AllClear Military Inc./Term Loan B 5/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     131767 | PA      | $54024.61      | 0.00%             | 2030-05-31      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| AllClear Military Inc.                                                                          | AllClear Military Inc./Term Loan C 5/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     474851 | PA      | $194688.91     | 0.00%             | 2030-05-31      | Floating      | 10.83%                | No            |                  3 | On Loan: No      |
| Steward Partners Global Advisory, LLC                                                           | Steward Partners Global Advisory, LLC/Delayed Draw Term Loan 6/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     646990 | PA      | $646989.76     | 0.01%             | 2028-10-16      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| CMG HoldCo, LLC                                                                                 | CMG HoldCo, LLC/Initial Term Loan 05/22                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     660397 | PA      | $653793.50     | 0.01%             | 2030-11-19      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| CMG HoldCo, LLC                                                                                 | CMG HoldCo, LLC/Revolving Credit 05/22                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1464296 | PA      | $1449653.04    | 0.03%             | 2030-11-19      | Floating      | 8.10%                 | No            |                  3 | On Loan: No      |
| CMG HoldCo, LLC                                                                                 | CMG HoldCo, LLC/Delayed Draw Term Loan 1 05/22                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     389511 | PA      | $385615.88     | 0.01%             | 2030-11-19      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| CMG HoldCo, LLC                                                                                 | CMG HoldCo, LLC/Delayed Draw Term Loan 2 05/22                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     979428 | PA      | $969633.23     | 0.02%             | 2030-11-19      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Truck-Lite Co., LLC and Ecco Holdings Corp.                                                     | Truck-Lite Co., LLC and Ecco Holdings Corp./2025 Replacement Term Loan 6/25                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   13212451 | PA      | $13212450.81   | 0.27%             | 2032-02-13      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| RSK Group Limited                                                                               | RSK Group Limited/Incremental Term Facility 05/22                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |   13675821 | PA      | $18101203.24   | 0.37%             | 2030-09-06      | Floating      | 9.24%                 | No            |                  3 | On Loan: No      |
| Bamboo Health Holdings, LLC                                                                     | Bamboo Health Holdings, LLC/First Lien Term Loan 5/21                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1419449 | PA      | $1419449.12    | 0.03%             | 2027-05-06      | Floating      | 8.52%                 | No            |                  3 | On Loan: No      |
| Bamboo Health Holdings, LLC                                                                     | Bamboo Health Holdings, LLC/Revolver 5/21                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     211867 | PA      | $211867.29     | 0.00%             | 2027-05-06      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| KKR 2024-50                                                                                     | KKR 2024-50A SUB                                                                                                              | CUSIP: 481953AE7<br>LEI: 254900X4SZ7MY83NGT93 | Long             | ABS-O            | CORP              | KY        |    1948000 | PA      | $760368.68     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KKR 32                                                                                          | KKR 32A SUB                                                                                                                   | CUSIP: 48254JAC4<br>LEI: 5493004Y6G18HN4CQ515 | Long             | ABS-O            | CORP              | KY        |     770000 | PA      | $265244.98     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KKR 2024-53                                                                                     | KKR 2024-53A E                                                                                                                | CUSIP: 48256TAA4<br>LEI: 25490093V4SBSCAGOF34 | Long             | ABS-CBDO         | CORP              | KY        |    2235000 | PA      | $2233663.47    | 0.05%             | 2038-01-15      | Floating      | 10.17%                | Yes           |                  3 | On Loan: No      |
| KKR 2024-53                                                                                     | KKR 2024-53A SUB                                                                                                              | CUSIP: 48256TAE6<br>LEI: 25490093V4SBSCAGOF34 | Long             | ABS-O            | CORP              | KY        |    7000000 | PA      | $4419499.00    | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Capnor Connery Bidco A/S                                                                        | Capnor Connery Bidco A/S/Facility B Commitment 09/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |   74355638 | PA      | $11500903.00   | 0.23%             | 2030-10-07      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| Capnor Connery Bidco A/S                                                                        | Capnor Connery Bidco A/S/Facility D Commitment 09/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |   75594736 | PA      | $11692559.48   | 0.24%             | 2030-10-07      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| Truck-Lite Co., LLC and Ecco Holdings Corp.                                                     | Truck-Lite Co., LLC and Ecco Holdings Corp./2025 Replacement Revolver 6/25                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1473818 | PA      | $1473818.00    | 0.03%             | 2031-02-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| VetPartners Group Limited                                                                       | VetPartners Group Limited/Unitranche Acquisition Facility A2 09/25                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    7331106 | PA      | $9703390.86    | 0.20%             | 2032-09-24      | Floating      | 9.23%                 | No            |                  3 | On Loan: No      |
| VetPartners Group Limited                                                                       | VetPartners Group Limited/Unitranche Facility A2 09/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |   20947114 | PA      | $27725425.91   | 0.56%             | 2032-09-24      | Floating      | 9.78%                 | No            |                  3 | On Loan: No      |
| Aruba Investments, Inc.                                                                         | Aruba Investments, Inc./USD 2nd Lien Term Loan 10/20                                                                          | CUSIP: 04317JAF5<br>LEI: 254900GMIYFF4FZ0A357 | Long             | LON              | CORP              | US        |    4037517 | PA      | $3618624.27    | 0.07%             | 2028-11-24      | Floating      | 11.52%                | No            |                  2 | On Loan: No      |
| Bizzdesign Holding B.V.                                                                         | Bizzdesign Holding B.V./Additional Facility Commitment 11/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1750000 | PA      | $2022747.24    | 0.04%             | 2031-10-17      | Floating      | 8.63%                 | No            |                  3 | On Loan: No      |
| Madison IAQ LLC                                                                                 | Madison IAQ LLC/Initial Term Loan 06/21                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   12753167 | PA      | $12739648.47   | 0.26%             | 2028-06-21      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| Nordic Ferry Infrastructure AS                                                                  | Nordic Ferry Infrastructure AS/Facility B2 EUR Commitment 10/24                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NO        |   17458869 | PA      | $20179930.88   | 0.41%             | 2031-11-28      | Floating      | 7.01%                 | No            |                  3 | On Loan: No      |
| Mimecast Borrowerco, Inc.                                                                       | Mimecast Borrowerco, Inc./Delayed Draw Term Loan 5/22                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3768084 | PA      | $3730402.71    | 0.08%             | 2029-05-18      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Truck-Lite Co., LLC and Ecco Holdings Corp.                                                     | Truck-Lite Co., LLC and Ecco Holdings Corp./Delayed Draw Term Loan A 6/25                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     285385 | PA      | $285384.74     | 0.01%             | 2032-02-13      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Bulab Holdings, Inc.                                                                            | Bulab Holdings, Inc./USD Revolver 6/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6101083 | PA      | $6101083.00    | 0.12%             | 2032-07-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Oakbridge Insurance Agency LLC                                                                  | Oakbridge Insurance Agency LLC/Delayed Draw Term Loan B 6/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     626155 | PA      | $626154.67     | 0.01%             | 2029-11-01      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Bulab Holdings, Inc.                                                                            | Bulab Holdings, Inc./Delayed Draw Term Loan 6/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4995674 | PA      | $4995674.00    | 0.10%             | 2032-07-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Bulab Holdings, Inc.                                                                            | Bulab Holdings, Inc./Initial USD Term Loan 6/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   20865859 | PA      | $20865859.45   | 0.42%             | 2032-07-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| VIX Option (CBOE)                                                                               | VIX Call Option Apr 2026 -Strike 30                                                                                           | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |        575 | NC      | $78200.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| VIX Option (CBOE)                                                                               | VIX Call Option Apr 2026 -Strike 40                                                                                           | CUSIP: N/A<br>LEI: 549300CII6SLYGKNHA04       | N/A              | DE               | CORP              | US        |       -575 | NC      | $-35650.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| LivTech Purchaser, Inc.                                                                         | LivTech Purchaser, Inc./Term Loan 11/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1290045 | PA      | $1277144.55    | 0.03%             | 2031-11-24      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Bulab Holdings, Inc.                                                                            | Bulab Holdings, Inc./Initial EUR Term Loan 6/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3626123 | PA      | $4191274.55    | 0.09%             | 2032-07-01      | Floating      | 6.64%                 | No            |                  3 | On Loan: No      |
| Mr. Greens Intermediate, LLC                                                                    | Mr. Greens Intermediate, LLC/Second Amendment Incremental Term Loan 6/25                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     573898 | PA      | $573898.10     | 0.01%             | 2031-05-01      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| Artivion, Inc.                                                                                  | Artivion, Inc./Revolver 1/24                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     335000 | PA      | $335000.00     | 0.01%             | 2031-01-20      | Floating      | 7.16%                 | No            |                  3 | On Loan: No      |
| LABL, Inc.                                                                                      | LABL 5.875% 1st lien Nts due 2028 144A                                                                                        | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    2212281 | PA      | $1150386.12    | 0.02%             | 2028-11-01      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| LABL, Inc.                                                                                      | LABL 9.5% Secured Nts due 2028 144A                                                                                           | CUSIP: 50168QAE5<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    7788736 | PA      | $4050142.72    | 0.08%             | 2028-11-01      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| LABL, Inc.                                                                                      | LABL 8.625% Secured Nts due 2031 144A                                                                                         | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    4790036 | PA      | $2490818.72    | 0.05%             | 2031-10-01      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| North Haven Fairway Buyer, LLC                                                                  | North Haven Fairway Buyer, LLC/Term Loan B 05/22                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      43721 | PA      | $43721.40      | 0.00%             | 2028-05-17      | Floating      | 8.69%                 | No            |                  3 | On Loan: No      |
| North Haven Fairway Buyer, LLC                                                                  | North Haven Fairway Buyer, LLC/Revolver 05/22                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     252694 | PA      | $252694.00     | 0.01%             | 2028-05-17      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Dorado Bidco, Inc.                                                                              | Dorado Bidco, Inc./Delayed Draw Term Loan 9/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2232055 | PA      | $2232054.95    | 0.05%             | 2031-09-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Dorado Bidco, Inc.                                                                              | Dorado Bidco, Inc./Revolver 9/24                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     698373 | PA      | $698373.00     | 0.01%             | 2031-09-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| WSBidCo Limited                                                                                 | WSBidCo Limited/Facility B 05/22                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    2678571 | PA      | $3545334.34    | 0.07%             | 2028-06-16      | Floating      | 10.35%                | No            |                  3 | On Loan: No      |
| WSBidCo Limited                                                                                 | WSBidCo Limited/Acquisition/ Capex Facility 05/22                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    2678571 | PA      | $3545334.34    | 0.07%             | 2028-06-16      | Floating      | 10.35%                | No            |                  3 | On Loan: No      |
| IRB Holding Corp.                                                                               | IRB Holding Corp./Term Loan 11/25                                                                                             | CUSIP: 44988LAM9<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |    7738210 | PA      | $7714840.55    | 0.16%             | 2030-12-15      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Illinois Investment S.a.r.l./Interest Bearing Loan 9/21                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |   31361801 | PA      | $1796754.24    | 0.04%             | 2026-12-31      | Floating      | 5.17%                 | No            |                  3 | On Loan: No      |
| Guidepoint Security Holdings, LLC                                                               | Guidepoint Security Holdings, LLC/Term A Loan 10/23                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1119694 | PA      | $1119694.12    | 0.02%             | 2029-10-02      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Guidepoint Security Holdings, LLC                                                               | Guidepoint Security Holdings, LLC/Delayed Draw Term Loan 10/23                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     295486 | PA      | $295486.00     | 0.01%             | 2029-10-02      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Odevo AB                                                                                        | Odevo AB/Facility D Commitment 11/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |     498660 | PA      | $576378.46     | 0.01%             | 2030-12-31      | Floating      | 7.36%                 | No            |                  3 | On Loan: No      |
| HP RSS Buyer, Inc.                                                                              | HP RSS Buyer, Inc./Second Amendment Delayed Draw Term Loan 7/25                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     433715 | PA      | $433714.77     | 0.01%             | 2029-12-11      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| MRI Software LLC                                                                                | MRI Software LLC/Revolving Loan 02/20                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     630981 | PA      | $624670.79     | 0.01%             | 2028-02-10      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| League One Volleyball Clubs, LLC                                                                | League One Volleyball Clubs, LLC/Delayed Draw Term Loan 1/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       3005 | PA      | $3005.00       | 0.00%             | 2030-01-24      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| Cradle Lux Bidco S.a r.l                                                                        | Cradle Lux Bidco S.a r.l/Term Loan (EUR) 11/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1958777 | PA      | $2264063.29    | 0.05%             | 2031-11-28      | Floating      | 7.26%                 | No            |                  3 | On Loan: No      |
| Cradle Lux Bidco S.a r.l                                                                        | Cradle Lux Bidco S.a r.l/Term Loan (USD) 11/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     721028 | PA      | $721028.00     | 0.01%             | 2031-11-28      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Cradle Lux Bidco S.a r.l                                                                        | Cradle Lux Bidco S.a r.l/Delayed Draw Term Loan 11/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     983231 | PA      | $983231.00     | 0.02%             | 2031-11-28      | Floating      | 7.26%                 | No            |                  3 | On Loan: No      |
| Flint Opco, LLC                                                                                 | Flint Opco, LLC/2025 Incremental Delayed Draw Term Loan 6/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1164534 | PA      | $1164534.00    | 0.02%             | 2030-08-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Medlar Bidco Limited                                                                            | Medlar Bidco Limited/Facility B (GBP) 12/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    3784676 | PA      | $5009365.07    | 0.10%             | 2032-05-07      | Floating      | 8.73%                 | No            |                  3 | On Loan: No      |
| Medlar Bidco Limited                                                                            | Medlar Bidco Limited/CAR Facility 12/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    1210036 | PA      | $1601593.60    | 0.03%             | 2032-05-07      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SageSure Holdings, LLC                                                                          | SageSure Holdings, LLC/Second Restatement Date Term Loan 8/24                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   19709527 | PA      | $19709527.18   | 0.40%             | 2030-01-28      | Floating      | 8.53%                 | No            |                  3 | On Loan: No      |
| Excel Fitness Consolidator LLC                                                                  | Excel Fitness Consolidator LLC/Term Loan 11/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1379798 | PA      | $1379797.83    | 0.03%             | 2030-04-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Polaris Newco, LLC                                                                              | Polaris Newco, LLC/USD Term Loan B 05/21                                                                                      | CUSIP: 73108RAB4<br>LEI: 254900LEPDAG7EDOA064 | Long             | LON              | CORP              | US        |   16447449 | PA      | $14432636.76   | 0.29%             | 2028-06-02      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| SageSure Holdings, LLC                                                                          | SageSure Holdings, LLC/Delayed Draw A Term Loan 8/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3559262 | PA      | $3559261.68    | 0.07%             | 2030-01-28      | Floating      | 8.53%                 | No            |                  3 | On Loan: No      |
| Endeavor Bidco LLC                                                                              | Endeavor Bidco LLC/Amendment No. 1 Term Loan 6/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     248750 | PA      | $248750.00     | 0.01%             | 2029-08-21      | Floating      | 7.92%                 | No            |                  3 | On Loan: No      |
| Reddy Ice LLC                                                                                   | Reddy Ice LLC/Tranche B Delayed Draw Term Loan 6/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   25980293 | PA      | $25980293.45   | 0.53%             | 2029-04-23      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Medmark Services Inc                                                                            | Medmark Services Inc/Term Loan 06/21                                                                                          | CUSIP: 05518PAB4<br>LEI: 549300473BJ7030DKO17 | Long             | LON              | CORP              | US        |    1758563 | PA      | $1477193.28    | 0.03%             | 2027-06-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Medmark Services Inc                                                                            | Medmark Services Inc/DDTL 06/21                                                                                               | CUSIP: 05518PAC2<br>LEI: 549300473BJ7030DKO17 | Long             | LON              | CORP              | US        |    1504169 | PA      | $1263501.57    | 0.03%             | 2027-06-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Shout! Factory, LLC                                                                             | Shout! Factory, LLC/Revolver 6/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      83124 | PA      | $81461.52      | 0.00%             | 2031-06-30      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Medmark Services Inc                                                                            | Medmark Services Inc/Term Loan (Second Lien) 06/21                                                                            | CUSIP: 05518PAE8<br>LEI: 549300473BJ7030DKO17 | Long             | LON              | CORP              | US        |    9139095 | PA      | $548345.70     | 0.01%             | 2028-06-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Medmark Services Inc                                                                            | Medmark Services Inc/DDTL (Second Lien) 06/21                                                                                 | CUSIP: 05518PAF5<br>LEI: 549300473BJ7030DKO17 | Long             | LON              | CORP              | US        |    4896727 | PA      | $293803.63     | 0.01%             | 2028-06-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BGI Purchaser, Inc.                                                                             | BGI Purchaser, Inc./Revolver Tranche B 5/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1817402 | PA      | $1817401.83    | 0.04%             | 2030-05-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Prime Dental Alliance B.V.                                                                      | Prime Dental Alliance B.V. / Acquisition / Capex EUR Commitment                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1654410 | PA      | $1912259.00    | 0.04%             | 2027-06-21      | Floating      | 9.63%                 | No            |                  3 | On Loan: No      |
| De Hypothekers Associatie Holding B.V.                                                          | De Hypothekers Associatie Holding B.V./Facility B1 09/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1526282 | PA      | $1764161.88    | 0.04%             | 2029-01-04      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Hologic Inc.                                                                                    | Hologic Inc./USD Term Loan 01/26                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   17000000 | PA      | $16787500.00   | 0.34%             | 2033-01-14      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Inspiring Generations B.V.                                                                      | Inspiring Generations B.V./ Facility B Tranche B2 07/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     488600 | PA      | $564751.03     | 0.01%             | 2032-07-15      | Floating      | 7.38%                 | No            |                  3 | On Loan: No      |
| SageSure Holdings, LLC                                                                          | SageSure Holdings, LLC/Amendment No. 1 Delayed Draw Term Loan 1/25                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7479651 | PA      | $7479651.10    | 0.15%             | 2030-01-28      | Floating      | 8.53%                 | No            |                  3 | On Loan: No      |
| NMC Skincare Intermediate Holdings II, LLC                                                      | NMC Skincare Intermediate Holdings II, LLC/2022 Incremental Term Loans 5/22                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     342126 | PA      | $325019.77     | 0.01%             | 2028-10-31      | Floating      | 10.30%                | No            |                  3 | On Loan: No      |
| Capnor Connery Bidco A/S                                                                        | Capnor Connery Bidco A/S/Additional Facility D2 06/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |   10052707 | PA      | $11619477.32   | 0.24%             | 2030-10-07      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Wilbur-Ellis Holdings II LLC                                                                    | Wilbur-Ellis Holdings II LLC/ABL Revolver 6/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     725663 | PA      | $711149.74     | 0.01%             | 2030-06-24      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Sun Acquirer Corp.                                                                              | Sun Acquirer Corp./Amendment No. 2 Incremental Delayed Draw Term Loan 6/22                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1631359 | PA      | $1615045.68    | 0.03%             | 2028-09-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| ECG Bidco S.A.S.                                                                                | ECG Bidco S.A.S./Facility B (GBP) 09/21                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    9567000 | PA      | $12662801.78   | 0.26%             | 2029-05-31      | Floating      | 11.51%                | No            |                  3 | On Loan: No      |
| ECG Bidco S.A.S.                                                                                | ECG Bidco S.A.S./Facility B (EUR) 09/21                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    6010039 | PA      | $6946736.90    | 0.14%             | 2028-10-02      | Floating      | 7.55%                 | No            |                  3 | On Loan: No      |
| ECG Bidco S.A.S.                                                                                | ECG Bidco S.A.S./CAR Facility 1 (EUR) 09/21                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    2453077 | PA      | $2835402.73    | 0.06%             | 2029-05-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ECG Bidco S.A.S.                                                                                | ECG Bidco S.A.S./CAR Facility 2 (EUR) 09/21                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |     629078 | PA      | $727123.28     | 0.01%             | 2029-05-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Quick Quack Car Wash Holdings, LLC                                                              | Quick Quack Car Wash Holdings, LLC/Delayed Draw Term Loan 6/24                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     124135 | PA      | $124135.20     | 0.00%             | 2031-06-10      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Quick Quack Car Wash Holdings, LLC                                                              | Quick Quack Car Wash Holdings, LLC/Revolver 6/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     366130 | PA      | $366130.00     | 0.01%             | 2031-06-10      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| HH-Stella, Inc.                                                                                 | HH-Stella, Inc./2025 Delayed Draw Term Loan 10/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1603421 | PA      | $1603420.99    | 0.03%             | 2028-04-24      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Paris US Holdco, Inc. & 1001028292 Ontario Inc.                                                 | Paris US Holdco, Inc. & 1001028292 Ontario Inc./Delayed Draw Term Loan 12/24                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1515637 | PA      | $1515637.00    | 0.03%             | 2031-12-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BGIF IV Fearless Utility Services, Inc.                                                         | BGIF IV Fearless Utility Services, Inc./Revolver 6/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     709452 | PA      | $709452.00     | 0.01%             | 2030-06-07      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| BGIF IV Fearless Utility Services, Inc.                                                         | BGIF IV Fearless Utility Services, Inc./Initial Term Loan 6/24                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2209911 | PA      | $2209911.45    | 0.04%             | 2031-06-09      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| BGIF IV Fearless Utility Services, Inc.                                                         | BGIF IV Fearless Utility Services, Inc./Delayed Draw Term Loan 6/24                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     809206 | PA      | $809206.34     | 0.02%             | 2031-06-09      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Saldon Holdings, Inc.                                                                           | Saldon Holdings, Inc./ Term Loan 11/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2134151 | PA      | $2134151.00    | 0.04%             | 2028-03-13      | Floating      | 9.02%                 | No            |                  3 | On Loan: No      |
| Multi-Color Corporation                                                                         | Multi-Color Corporation/Interim New Money Dollar Term Loan 02/26                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1551298 | PA      | $1547420.15    | 0.03%             | 2026-12-02      | Floating      | 10.41%                | No            |                  2 | On Loan: No      |
| Multi-Color Corporation                                                                         | Multi-Color Corporation/Interim First Draw Roll-Up Commitment 02/26                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1560150 | PA      | $1294924.43    | 0.03%             | 2026-12-02      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| YE Brands Holdings, LLC                                                                         | YE Brands Holdings, LLC/2022 Incremental Term Loan 6/22                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     705204 | PA      | $705203.70     | 0.01%             | 2027-10-18      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| QIMA Finance Ltd                                                                                | QIMA Finance Ltd/ Unitranche Facility B1 07/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    7085836 | PA      | $7085836.00    | 0.14%             | 2032-07-12      | Floating      | 9.15%                 | No            |                  3 | On Loan: No      |
| QIMA Finance Ltd                                                                                | QIMA Finance Ltd/ Acquisition/ Capex Facility 07/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    2842187 | PA      | $2842187.00    | 0.06%             | 2032-07-12      | Floating      | 9.15%                 | No            |                  3 | On Loan: No      |
| Watt Holdco Limited                                                                             | Watt Holdco Limited/Facility B Commitment 08/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IE        |    3000000 | PA      | $3467566.69    | 0.07%             | 2031-09-17      | Floating      | 7.41%                 | No            |                  3 | On Loan: No      |
| G702 Buyer, Inc.                                                                                | G702 Buyer, Inc./Tranche B Term Loan 7/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     384091 | PA      | $384091.37     | 0.01%             | 2031-07-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| YE Brands Holdings, LLC                                                                         | YE Brands Holdings, LLC/2024 Delayed Draw Term Loan 1/24                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     317260 | PA      | $317259.98     | 0.01%             | 2027-10-18      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Watt Holdco Limited                                                                             | Watt Holdco Limited/Acqusition Facility Commitment 08/24                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IE        |     440000 | PA      | $508576.45     | 0.01%             | 2031-09-17      | Floating      | 8.98%                 | No            |                  3 | On Loan: No      |
| Sigma Electric Manufacturing Corporation                                                        | Sigma Electric Manufacturing Corporation/Third Amendment Tranche A-2 Term Loan 8/19                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     132506 | PA      | $132506.28     | 0.00%             | 2027-12-31      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| CBTS BORROWER, LLC                                                                              | CBTS BORROWER, LLC/Term B USD Commitment 12/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8982485 | PA      | $9611258.54    | 0.20%             | 2030-12-02      | Floating      | 14.50%                | No            |                  3 | On Loan: No      |
| CBTS BORROWER, LLC                                                                              | CBTS BORROWER, LLC/Delayed Draw Term Loan USD Commitment 12/24                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     950000 | PA      | $1016500.00    | 0.02%             | 2030-12-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SV Newco 2, Inc.                                                                                | SV Newco 2, Inc./Initial Term Loan 5/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     511409 | PA      | $511409.42     | 0.01%             | 2031-06-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| FL Hawk Intermediate Holdings, Inc.                                                             | FL Hawk Intermediate Holdings, Inc./Amendment No. 2 Refinancing Term Loan 10/24                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   11694982 | PA      | $11694982.24   | 0.24%             | 2030-02-22      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Edition Holdings, Inc.                                                                          | Edition Holdings, Inc./Initial Term Loan 12/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1943600 | PA      | $1904728.01    | 0.04%             | 2032-12-20      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| Broadstreet Partners Group, LLC                                                                 | Broadstreet Partners Group, LLC/Term Loan B4 05/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9763329 | PA      | $9510752.16    | 0.19%             | 2031-06-13      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Empower Payments Investor, LLC                                                                  | Empower Payments Investor, LLC/ Incremental Term Loan 2/26                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     773456 | PA      | $773456.00     | 0.02%             | 2031-03-12      | Floating      | 8.40%                 | No            |                  3 | On Loan: No      |
| Empower Payments Investor, LLC                                                                  | Empower Payments Investor, LLC/Second Amendment Delayed Draw Term Loan 6/25                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      66326 | PA      | $66325.77      | 0.00%             | 2031-03-12      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| ACP Avenu Buyer, LLC                                                                            | ACP Avenu Buyer, LLC/Term Loan 2/25                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3488155 | PA      | $3488155.15    | 0.07%             | 2029-10-02      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| ACP Avenu Buyer, LLC                                                                            | ACP Avenu Buyer, LLC/Delayed Draw Term Loan 2/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2973362 | PA      | $2973362.00    | 0.06%             | 2029-10-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Truist Insurance Holdings, LLC                                                                  | Truist Insurance Holdings, LLC/Term Loan B 12/24                                                                              | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     137903 | PA      | $135791.93     | 0.00%             | 2031-05-06      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Align Precision Group, LLC                                                                      | Align Precision Group, LLC/Tranche A-1 Term Loan 7/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3031425 | PA      | $3031425.23    | 0.06%             | 2030-07-03      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| Align Precision Group, LLC                                                                      | Align Precision Group, LLC/Delayed Draw Term Loan 7/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     609075 | PA      | $609075.35     | 0.01%             | 2030-07-03      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| Moderna, Inc.                                                                                   | Moderna, Inc./ Initial Term Loan 11/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   32350800 | PA      | $32027292.00   | 0.65%             | 2030-11-25      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Moderna, Inc.                                                                                   | Moderna, Inc./ Delayed Draw Term Loan-1 11/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   21567200 | PA      | $21351528.00   | 0.43%             | 2030-11-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Moderna, Inc.                                                                                   | Moderna, Inc./ Delayed Draw Term Loan-2 11/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   26959000 | PA      | $26689410.00   | 0.54%             | 2030-11-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Bamboo Purchaser, Inc.                                                                          | Bamboo Purchaser, Inc./Term Loan A 11/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1028674 | PA      | $761753.92     | 0.02%             | 2029-12-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Bamboo Purchaser, Inc.                                                                          | Bamboo Purchaser, Inc./Delayed Draw Term Loan A 11/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     313612 | PA      | $232236.02     | 0.00%             | 2029-12-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Bamboo Purchaser, Inc.                                                                          | Bamboo Purchaser, Inc./Term Loan B 11/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3864560 | PA      | $0.00          | 0.00%             | 2029-12-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Surescripts, LLC                                                                                | Surescripts, LLC/ Amendment No. 1 Incremental Term Loan 11/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4809785 | PA      | $4809785.00    | 0.10%             | 2031-11-03      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Andwis Group Limited                                                                            | Andwis Group Limited/Additional Facility 03/26                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1635688 | PA      | $2164983.06    | 0.04%             | 2031-11-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Osmose Utilities Services, Inc.                                                                 | Osmose Utilities Services, Inc./Term Loan 06/21                                                                               | CUSIP: 68835HAH3<br>LEI: 549300FSLVHLFZ3S0D82 | Long             | LON              | CORP              | US        |    1135097 | PA      | $1113461.72    | 0.02%             | 2028-06-23      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Osmose Utilities Services, Inc.                                                                 | Osmose Utilities Services, Inc./Second Lien Term Loan 6/21                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8237180 | PA      | $8154808.60    | 0.17%             | 2029-06-25      | Floating      | 10.53%                | No            |                  3 | On Loan: No      |
| Birdie Bidco, Inc.                                                                              | Birdie Bidco, Inc./ First Lien Term Loan 11/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1194754 | PA      | $1182806.46    | 0.02%             | 2032-11-17      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Birdie Bidco, Inc.                                                                              | Birdie Bidco, Inc./ Delayed Draw Term Loan 11/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     346864 | PA      | $343395.36     | 0.01%             | 2032-11-17      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Birdie Bidco, Inc.                                                                              | Birdie Bidco, Inc./ Revolver 11/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     302883 | PA      | $299854.17     | 0.01%             | 2032-11-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Saldon Holdings, Inc.                                                                           | Saldon Holdings, Inc./Second Amendment Term Loan 6/21                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2909243 | PA      | $2909243.14    | 0.06%             | 2028-03-13      | Floating      | 9.02%                 | No            |                  3 | On Loan: No      |
| Supplying Demand, Inc.                                                                          | Supplying Demand, Inc./Revolver 11/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6256259 | PA      | $6256259.00    | 0.13%             | 2027-11-26      | Floating      | 7.67%                 | No            |                  3 | On Loan: No      |
| Pathstone Family Office LLC                                                                     | Pathstone Family Office LLC/Revolver Loan 5/23                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     628633 | PA      | $628633.00     | 0.01%             | 2028-05-15      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| Paris US Holdco, Inc. & 1001028292 Ontario Inc.                                                 | Paris US Holdco, Inc. & 1001028292 Ontario Inc./Term Loan 12/24                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5829046 | PA      | $5829045.79    | 0.12%             | 2031-12-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                                    | MLTPLN 6.75% PIK 1st lien Nts due 2031 144A                                                                                   | CUSIP: 553283AE2<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    4302072 | PA      | $2882388.24    | 0.06%             | 2031-03-31      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| NMC Skincare Intermediate Holdings II, LLC                                                      | NMC Skincare Intermediate Holdings II, LLC/4th Amendment RC PIK Loan 10/23                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       7970 | PA      | $7571.42       | 0.00%             | 2028-10-31      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Watermill Express, LLC                                                                          | Watermill Express, LLC/Third Amendment Incremental DDTL 8/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     469054 | PA      | $469054.06     | 0.01%             | 2031-04-30      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| OPH NEP Investment, LLC                                                                         | OPH NEP Investment, LLC/First Amendment Term Loan 3/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1291680 | PA      | $1252929.30    | 0.03%             | 2032-05-03      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| Cyber US Bidco LLC                                                                              | Cyber US Bidco LLC/ Initial Term Loan 12/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     457872 | PA      | $457872.00     | 0.01%             | 2032-12-30      | Floating      | 8.69%                 | No            |                  3 | On Loan: No      |
| Cyber US Bidco LLC                                                                              | Cyber US Bidco LLC/ Initial Delayed Draw Term Loan 12/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      89779 | PA      | $89779.00      | 0.00%             | 2032-12-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| MDPK 2024-66                                                                                    | MDPK 2024-66A E                                                                                                               | CUSIP: 55790AAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2500000 | PA      | $2356470.00    | 0.05%             | 2037-10-21      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| MDPK 2024-66                                                                                    | MDPK 2024-66A SUB                                                                                                             | CUSIP: 55790AAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1910000 | PA      | $1113957.84    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2022-60                                                                                    | MDPK 2022-60A SUB                                                                                                             | CUSIP: 557911AC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     690600 | PA      | $353818.55     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2022-60                                                                                    | MDPK 2022-60A ER                                                                                                              | CUSIP: 557911AE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    5625000 | PA      | $5149237.50    | 0.10%             | 2037-10-25      | Floating      | 10.17%                | Yes           |                  3 | On Loan: No      |
| ATRM 14                                                                                         | ATRM 14A ER                                                                                                                   | CUSIP: 557912AA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    5600000 | PA      | $4505799.20    | 0.09%             | 2037-10-16      | Floating      | 10.17%                | Yes           |                  3 | On Loan: No      |
| Harbourvest Global Private Equity Limited                                                       | Harbourvest Global Private Equity Limited/ Revolving Facility 05/24                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GG        |   24000000 | PA      | $24000000.00   | 0.49%             | 2029-06-05      | Floating      | 7.26%                 | No            |                  3 | On Loan: No      |
| Cyber US Bidco LLC                                                                              | Cyber US Bidco LLC/ Initial Revolving Credit 12/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      35912 | PA      | $35912.00      | 0.00%             | 2032-12-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| MDPK 2018-32                                                                                    | MDPK 2018-32A SUB                                                                                                             | CUSIP: 55817CAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    4105163 | PA      | $1128390.26    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2018-32                                                                                    | MDPK 2018-32A ER2                                                                                                             | CUSIP: 55817CAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    6050000 | PA      | $5257849.30    | 0.11%             | 2037-07-22      | Floating      | 10.07%                | Yes           |                  3 | On Loan: No      |
| MDPK 2019-37                                                                                    | MDPK 2019-37A SUB                                                                                                             | CUSIP: 55817FAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    9908662 | PA      | $3159228.25    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2025-71                                                                                    | MDPK 2025-71A SUB                                                                                                             | CUSIP: 558182AE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3000000 | PA      | $1816770.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2022-55                                                                                    | MDPK 2022-55A SUB                                                                                                             | CUSIP: 55818AAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3025000 | PA      | $1142772.40    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2014-14                                                                                    | MDPK 2014-14A FR                                                                                                              | CUSIP: 55818TAJ1<br>LEI: 254900Q2IOW6JYPYIV98 | Long             | ABS-CBDO         | CORP              | KY        |    1030383 | PA      | $833469.52     | 0.02%             | 2030-10-22      | Floating      | 11.70%                | Yes           |                  3 | On Loan: No      |
| MDPK 2015-17                                                                                    | MDPK 2015-17A SUB                                                                                                             | CUSIP: 55819AAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   35192026 | PA      | $2431804.19    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2018-31                                                                                    | MDPK 2018-31A SUB                                                                                                             | CUSIP: 55819EAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    6205750 | PA      | $1581529.18    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2018-31                                                                                    | MDPK 2018-31A ER                                                                                                              | CUSIP: 55819EAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     650000 | PA      | $577280.60     | 0.01%             | 2037-07-23      | Floating      | 10.07%                | Yes           |                  3 | On Loan: No      |
| MDPK 2016-20                                                                                    | MDPK 2016-20A ERR                                                                                                             | CUSIP: 55819UAL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2727500 | PA      | $2330059.61    | 0.05%             | 2037-10-27      | Floating      | 10.07%                | Yes           |                  3 | On Loan: No      |
| MDPK 2016-22                                                                                    | MDPK 2016-22A SUB                                                                                                             | CUSIP: 55819VAC0<br>LEI: 254900YXXBTCF4NGD347 | Long             | ABS-O            | CORP              | KY        |   10434020 | PA      | $3280518.49    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2022-53                                                                                    | MDPK 2022-53A SUB                                                                                                             | CUSIP: 558201AC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    6600000 | PA      | $1269147.00    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2019-34                                                                                    | MDPK 2019-34A SUB                                                                                                             | CUSIP: 55820HAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     870110 | PA      | $234682.59     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2019-34                                                                                    | MDPK 2019-34A ERR                                                                                                             | CUSIP: 55820HAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1700000 | PA      | $1481293.30    | 0.03%             | 2037-10-16      | Floating      | 10.17%                | Yes           |                  3 | On Loan: No      |
| MDPK 2018-28                                                                                    | MDPK 2018-28A SUB                                                                                                             | CUSIP: 55821BAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1750000 | PA      | $379601.25     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2021-50                                                                                    | MDPK 2021-50A SUB                                                                                                             | CUSIP: 55821DAC6<br>LEI: 549300XQII222AK58E79 | Long             | ABS-O            | CORP              | KY        |    2500000 | PA      | $601970.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2023-63A                                                                                   | MDPK 2023-63A SUB                                                                                                             | CUSIP: 55821JAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    7343160 | PA      | $3760542.38    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2023-63                                                                                    | MDPK 2023-63A ER                                                                                                              | CUSIP: 55821JAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1500000 | PA      | $1381192.50    | 0.03%             | 2038-07-21      | Floating      | 9.67%                 | Yes           |                  3 | On Loan: No      |
| MDPK 2021-38                                                                                    | MDPK 2021-38A SUB                                                                                                             | CUSIP: 55821MAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1770496 | PA      | $745182.29     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2018-30                                                                                    | MDPK 2018-30A D2R                                                                                                             | CUSIP: 55821TAW7<br>LEI: 549300FFTJ3WPTJK8589 | Long             | ABS-CBDO         | CORP              | KY        |     750000 | PA      | $748780.50     | 0.02%             | 2037-07-16      | Fixed         | 8.50%                 | Yes           |                  3 | On Loan: No      |
| MDPK 2021-59                                                                                    | MDPK 2021-59A SUB                                                                                                             | CUSIP: 55822FAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    5865244 | PA      | $1725994.68    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2021-59                                                                                    | MDPK 2021-59A ER                                                                                                              | CUSIP: 55822FAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2860000 | PA      | $2473654.04    | 0.05%             | 2037-04-18      | Floating      | 10.07%                | Yes           |                  3 | On Loan: No      |
| MDPK 2018-30                                                                                    | MDPK 2018-30A SUB                                                                                                             | CUSIP: 55822HAE2<br>LEI: 549300FFTJ3WPTJK8589 | Long             | ABS-O            | CORP              | KY        |   12920900 | PA      | $3892149.79    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2024-67                                                                                    | MDPK 2024-67A SUB                                                                                                             | CUSIP: 55822KAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     264752 | PA      | $125729.14     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ATRM 15                                                                                         | ATRM 15A ER                                                                                                                   | CUSIP: 55822TAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1875000 | PA      | $1636871.25    | 0.03%             | 2037-07-16      | Floating      | 10.17%                | Yes           |                  3 | On Loan: No      |
| MDPK 2024-68                                                                                    | MDPK 2024-68A E                                                                                                               | CUSIP: 55823AAA4<br>LEI: 213800XCOFXF5X7M9P78 | Long             | ABS-CBDO         | CORP              | JE        |    2375000 | PA      | $2212155.75    | 0.04%             | 2038-01-20      | Floating      | 8.77%                 | Yes           |                  3 | On Loan: No      |
| MDPK 2025-72                                                                                    | MDPK 2025-72A SUB                                                                                                             | CUSIP: 55823EAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    8300000 | PA      | $6331572.00    | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2025-75                                                                                    | MDPK 2025-75A SUB                                                                                                             | CUSIP: 55823MAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   11755000 | PA      | $9741850.46    | 0.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Nelipak Holding Company                                                                         | Nelipak Holding Company/ 2025 Incremental Term Loan 11/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     196541 | PA      | $194575.59     | 0.00%             | 2031-03-26      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| MAGNE 2024-38A                                                                                  | MAGNE 2024-38A SUB                                                                                                            | CUSIP: 55952HAB0<br>LEI: 529900R1XWW85WSHQ318 | Long             | ABS-O            | CORP              | US        |     362000 | PA      | $215322.31     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MAGNE 2022-33                                                                                   | MAGNE 2022-33A ER                                                                                                             | CUSIP: 55954BAE5<br>LEI: 5493006NSAO246ZPZB29 | Long             | ABS-CBDO         | CORP              | KY        |    5875000 | PA      | $5842599.38    | 0.12%             | 2037-10-20      | Floating      | 9.22%                 | Yes           |                  3 | On Loan: No      |
| MAGNE 2020-28                                                                                   | MAGNE 2020-28A SUB                                                                                                            | CUSIP: 55955MAC4<br>LEI: 54930077HHZ1QV5CPQ30 | Long             | ABS-O            | CORP              | KY        |    9665623 | PA      | $5150201.56    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MAGNE 2024-44                                                                                   | MAGNE 2024-44A SUB                                                                                                            | CUSIP: 55955WAE8<br>LEI: 529900QN6D2QU338OD40 | Long             | ABS-O            | CORP              | US        |    4670000 | PA      | $3146291.08    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MAGNE 2024-42                                                                                   | MAGNE 2024-42A SUB                                                                                                            | CUSIP: 55955YAE4<br>LEI: 5299008QF7XUGQ5EZC63 | Long             | ABS-O            | CORP              | KY        |     680000 | PA      | $429527.44     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MAGNE 2025-48                                                                                   | MAGNE 2025-48A SUB                                                                                                            | CUSIP: 55956FAE4<br>LEI: 529900GIGHYFX3L5AN76 | Long             | ABS-O            | CORP              | KY        |    9560000 | PA      | $6804741.08    | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MAGNE 2026-55                                                                                   | MAGNE 2026-55A SUB                                                                                                            | CUSIP: 55956QAE0<br>LEI: 529900Y11QGJ7NJFMY63 | Long             | ABS-O            | CORP              | KY        |    9595000 | PA      | $8635500.00    | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WRE Sports Investments LLC                                                                      | WRE Sports Investments LLC/Initial Issuance Note 7/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7570368 | PA      | $7570368.40    | 0.15%             | 2031-07-28      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| MAGNE 2025-43                                                                                   | MAGNE 2025-43A E                                                                                                              | CUSIP: 559919AA3<br>LEI: 529900MX1PNEO4Y6K172 | Long             | ABS-CBDO         | CORP              | KY        |     255000 | PA      | $254405.60     | 0.01%             | 2038-07-15      | Floating      | 10.17%                | Yes           |                  3 | On Loan: No      |
| MAGNE 2025-43                                                                                   | MAGNE 2025-43A SUB                                                                                                            | CUSIP: 559919AE5<br>LEI: 529900MX1PNEO4Y6K172 | Long             | ABS-O            | CORP              | KY        |    1160000 | PA      | $780029.24     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MAGNE 2025-51                                                                                   | MAGNE 2025-51A SUB                                                                                                            | CUSIP: 559925AE2<br>LEI: 529900KAYH281VVPRN31 | Long             | ABS-O            | CORP              | KY        |   10940000 | PA      | $8442999.70    | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CMG HoldCo, LLC                                                                                 | CMG HoldCo, LLC/Delayed Draw Term Loan 7/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     536065 | PA      | $530704.35     | 0.01%             | 2030-11-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| DuraServ LLC                                                                                    | DuraServ LLC/Term Loan 6/24                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     586296 | PA      | $580432.59     | 0.01%             | 2031-06-10      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| DuraServ LLC                                                                                    | DuraServ LLC/Delayed Draw Term Loan 6/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     217423 | PA      | $215248.78     | 0.00%             | 2031-06-10      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| DuraServ LLC                                                                                    | DuraServ LLC/Revolver 6/24                                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     227101 | PA      | $224829.99     | 0.00%             | 2030-06-10      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| athenahealth Group Inc.                                                                         | athenahealth Group Inc./ Third Amendment Revolver 2/26                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2076049 | PA      | $2034528.02    | 0.04%             | 2031-02-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Beacon Pointe Harmony, LLC                                                                      | Beacon Pointe Harmony, LLC/Delayed Draw Term Loan 7/23                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1946101 | PA      | $1946101.14    | 0.04%             | 2028-12-29      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| NMC Skincare Intermediate Holdings II, LLC                                                      | NMC Skincare Intermediate Holdings II, LLC/Delayed Draw Term Loan 10/18                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     586006 | PA      | $556705.99     | 0.01%             | 2028-10-31      | Floating      | 10.30%                | No            |                  3 | On Loan: No      |
| NMC Skincare Intermediate Holdings II, LLC                                                      | NMC Skincare Intermediate Holdings II, LLC/Revolver 10/18                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     332080 | PA      | $315476.23     | 0.01%             | 2028-10-31      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| Icefall Parent, Inc.                                                                            | Icefall Parent, Inc./Term Loan 1/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2255251 | PA      | $2255250.77    | 0.05%             | 2030-01-25      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Icefall Parent, Inc.                                                                            | Icefall Parent, Inc./Revolver 1/24                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     153724 | PA      | $153724.00     | 0.00%             | 2030-01-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| The Mather Group, LLC                                                                           | The Mather Group, LLC/ Delayed Draw Term Loan 11/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     379834 | PA      | $379834.00     | 0.01%             | 2028-03-31      | Floating      | 9.05%                 | No            |                  3 | On Loan: No      |
| The Mather Group, LLC                                                                           | The Mather Group, LLC/ Term Loan 11/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      56975 | PA      | $56975.00      | 0.00%             | 2028-03-31      | Floating      | 9.24%                 | No            |                  3 | On Loan: No      |
| Hills Distribution, Inc.                                                                        | Hills Distribution, Inc./ Amendment No. 2 Delayed Draw Term Loan 11/25                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     479804 | PA      | $479804.00     | 0.01%             | 2029-11-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Hills Distribution, Inc.                                                                        | Hills Distribution, Inc./ Amendment No. 2 Incremental Term Loan 11/25                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     198311 | PA      | $198311.00     | 0.00%             | 2029-11-08      | Floating      | 9.15%                 | No            |                  3 | On Loan: No      |
| Elliott Davis Advisory, LLC                                                                     | Elliott Davis Advisory, LLC/Revolver 7/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     280032 | PA      | $280032.00     | 0.01%             | 2031-07-08      | Floating      | 8.35%                 | No            |                  3 | On Loan: No      |
| Elliott Davis Advisory, LLC                                                                     | Elliott Davis Advisory, LLC/Delayed Draw Term Loan 7/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     192443 | PA      | $192443.00     | 0.00%             | 2031-07-08      | Floating      | 8.33%                 | No            |                  3 | On Loan: No      |
| Aldinger Company                                                                                | Aldinger Company/Term Loan 7/24                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1088685 | PA      | $1088685.26    | 0.02%             | 2030-10-18      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Aldinger Company                                                                                | Aldinger Company/Delayed Draw Term Loan 7/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     626320 | PA      | $626319.54     | 0.01%             | 2030-10-18      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Aldinger Company                                                                                | Aldinger Company/Revolver 7/24                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     404269 | PA      | $404269.00     | 0.01%             | 2030-10-18      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Covert HoldCo, LP                                                                               | Covert HoldCo, LP/ Initial Term Loan 2/26                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   22914365 | PA      | $22456077.70   | 0.46%             | 2031-03-03      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Covert HoldCo, LP                                                                               | Covert HoldCo, LP/ Delayed Draw Term Loan 2/26                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1857921 | PA      | $1820762.58    | 0.04%             | 2031-03-03      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| TSS Buyer, LLC                                                                                  | TSS Buyer, LLC/Delayed Draw Term Loan 06/22                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     483872 | PA      | $483872.13     | 0.01%             | 2029-06-22      | Floating      | 8.69%                 | No            |                  3 | On Loan: No      |
| Priority Waste Holdings LLC                                                                     | Priority Waste Holdings LLC/Initial Term Loan 08/23                                                                           | CUSIP: 68371YAP8<br>LEI: 549300HP7ONDQODZJV16 | Long             | LON              | CORP              | US        |    1876081 | PA      | $1725994.12    | 0.04%             | 2029-08-20      | Floating      | 11.66%                | No            |                  3 | On Loan: No      |
| Priority Waste Holdings LLC                                                                     | Priority Waste Holdings LLC/DDTL B 8/23                                                                                       | CUSIP: 68371YAP8<br>LEI: 549300HP7ONDQODZJV16 | Long             | LON              | CORP              | US        |     767052 | PA      | $705687.66     | 0.01%             | 2029-08-20      | Floating      | 11.66%                | No            |                  3 | On Loan: No      |
| Priority Waste Holdings LLC                                                                     | Priority Waste Holdings LLC/Revolver 8/23                                                                                     | CUSIP: 68371YAP8<br>LEI: 549300HP7ONDQODZJV16 | Long             | LON              | CORP              | US        |       2000 | PA      | $2000.00       | 0.00%             | 2029-08-20      | Floating      | 11.25%                | No            |                  3 | On Loan: No      |
| NextCare, Inc.                                                                                  | NextCare, Inc./Term Loan (Second Lien) 02/18                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8067103 | PA      | $8067103.25    | 0.16%             | 2026-06-30      | Floating      | 10.90%                | No            |                  3 | On Loan: No      |
| RealPage, Inc.                                                                                  | RealPage, Inc./ Incremental Term Loan 12/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     109744 | PA      | $106329.16     | 0.00%             | 2028-04-24      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| PCS Midco, Inc.                                                                                 | PCS Midco, Inc./Term Loan 1/24                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     907206 | PA      | $907205.57     | 0.02%             | 2030-03-01      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| PCS Midco, Inc.                                                                                 | PCS Midco, Inc./Delayed Draw Term Loan 1/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     340336 | PA      | $340336.28     | 0.01%             | 2030-03-01      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| PCS Midco, Inc.                                                                                 | PCS Midco, Inc./Revolver 1/24                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      74543 | PA      | $74543.00      | 0.00%             | 2030-03-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Rocket Buyer, LLC                                                                               | Rocket Buyer, LLC/ Term Loan 2/26                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2149980 | PA      | $2128480.20    | 0.04%             | 2033-02-22      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| Rocket Buyer, LLC                                                                               | Rocket Buyer, LLC/ Delayed Draw Term Loan 2/26                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1599159 | PA      | $1583167.41    | 0.03%             | 2033-02-22      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| Rocket Buyer, LLC                                                                               | Rocket Buyer, LLC/ Revolver 2/26                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     867265 | PA      | $858592.35     | 0.02%             | 2033-02-22      | Floating      | 8.16%                 | No            |                  3 | On Loan: No      |
| Burgess Point Purchaser Corporation                                                             | Burgess Point Purchaser Corporation/Term Loan 07/22                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4062235 | PA      | $3523988.45    | 0.07%             | 2029-07-25      | Floating      | 9.02%                 | No            |                  2 | On Loan: No      |
| Galway Borrower LLC                                                                             | Galway Borrower LLC/ Fifth Amendment Delayed Draw Term Loan 2/26                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2656307 | PA      | $2629743.93    | 0.05%             | 2028-09-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Shur-Co Acquisition, Inc.                                                                       | Shur-Co Acquisition, Inc./ First Amendment Incremental Term Loan 6/22                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     269093 | PA      | $269092.98     | 0.01%             | 2030-07-01      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| 22 HoldCo Limited                                                                               | 22 HoldCo Limited/Series B Note 7/23                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2297105 | PA      | $3040429.40    | 0.06%             | 2033-08-23      | Floating      | 11.55%                | No            |                  3 | On Loan: No      |
| Marcone Yellowstone Buyer Inc.                                                                  | Marcone Yellowstone Buyer Inc./Initial Term Loan 6/21                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8166637 | PA      | $6614975.89    | 0.13%             | 2028-06-23      | Floating      | 7.56%                 | No            |                  3 | On Loan: No      |
| Marcone Yellowstone Buyer Inc.                                                                  | Marcone Yellowstone Buyer Inc./Delayed Draw Term Loan 6/21                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2713667 | PA      | $2198069.99    | 0.04%             | 2028-06-23      | Floating      | 7.56%                 | No            |                  3 | On Loan: No      |
| People Corporation                                                                              | People Corporation/Delayed Draw 4 Term Loan 12/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    6830436 | PA      | $4910097.34    | 0.10%             | 2028-02-18      | Floating      | 7.58%                 | No            |                  3 | On Loan: No      |
| Pegasus (Bidco) Limited                                                                         | Pegasus (Bidco) Limited / Unitranche Facility                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    4124883 | PA      | $5459660.41    | 0.11%             | 2029-04-04      | Floating      | 10.81%                | No            |                  3 | On Loan: No      |
| Clearstead Advisors, LLC                                                                        | Clearstead Advisors, LLC/ Delayed Draw Term C Loan 1/26                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     205539 | PA      | $205539.00     | 0.00%             | 2029-02-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Adonis Acquisition Holdings LLC                                                                 | Adonis Acquisition Holdings LLC/ABL Revolver 2/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |        818 | PA      | $817.55        | 0.00%             | 2028-08-07      | Floating      | 8.77%                 | No            |                  3 | On Loan: No      |
| ELM DebtCo, LLC                                                                                 | ELM DebtCo, LLC/ Term Loan 2025 11/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     387697 | PA      | $383820.03     | 0.01%             | 2031-11-14      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| ELM DebtCo, LLC                                                                                 | ELM DebtCo, LLC/ Revolver 2025 11/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      99111 | PA      | $98119.89      | 0.00%             | 2031-11-14      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ELM DebtCo, LLC                                                                                 | ELM DebtCo, LLC/ Delayed Draw Term Loan 2025 11/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      88113 | PA      | $87672.44      | 0.00%             | 2031-11-14      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| NAMSA Holdco, LLC                                                                               | NAMSA Holdco, LLC/Revolver 3/26                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $990.00        | 0.00%             | 2033-03-09      | Floating      | 6.92%                 | No            |                  3 | On Loan: No      |
| NAMSA Holdco, LLC                                                                               | NAMSA Holdco, LLC/First Lien Term Loan 3/26                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7165524 | PA      | $7093868.76    | 0.14%             | 2033-03-09      | Floating      | 8.38%                 | No            |                  3 | On Loan: No      |
| NAMSA Holdco, LLC                                                                               | NAMSA Holdco, LLC/Delayed Draw Term Loan 3/26                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     995187 | PA      | $990211.07     | 0.02%             | 2033-03-09      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Dobson Ventures, LLC                                                                            | Dobson Ventures, LLC/Term Loan 2/26                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1890000 | PA      | $1880550.00    | 0.04%             | 2029-03-06      | Floating      | 11.50%                | No            |                  3 | On Loan: No      |
| LJ Perimeter Buyer, Inc.                                                                        | LJ Perimeter Buyer, Inc./ Second Amendment Delayed Draw Term Loan 2/26                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1002873 | PA      | $992844.27     | 0.02%             | 2031-10-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Netsmart Technologies, Inc.                                                                     | Netsmart Technologies, Inc./2025 Incremental Term Loan 11/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3895347 | PA      | $3895347.30    | 0.08%             | 2031-08-25      | Floating      | 8.87%                 | No            |                  3 | On Loan: No      |
| Collision SP Subco, LLC                                                                         | Collision SP Subco, LLC/Initial Term Loan 1/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     887856 | PA      | $887855.93     | 0.02%             | 2030-01-29      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Collision SP Subco, LLC                                                                         | Collision SP Subco, LLC/Delayed Draw Term Loan 1/24                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     518243 | PA      | $518243.23     | 0.01%             | 2030-01-29      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Collision SP Subco, LLC                                                                         | Collision SP Subco, LLC/Revolver 1/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      87681 | PA      | $87681.00      | 0.00%             | 2030-01-29      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Leviathan Intermediate Holdco, LLC                                                              | Leviathan Intermediate Holdco, LLC/Term Loan 1/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      61562 | PA      | $61562.16      | 0.00%             | 2027-12-27      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| PDI TA Holdings, Inc.                                                                           | PDI TA Holdings, Inc./Initial Term Loan 2/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2547078 | PA      | $2470665.31    | 0.05%             | 2031-02-03      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| PDI TA Holdings, Inc.                                                                           | PDI TA Holdings, Inc./Revolver 2/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     184756 | PA      | $179213.32     | 0.00%             | 2031-02-03      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Hills Distribution, Inc.                                                                        | Hills Distribution, Inc./Revolver 11/23                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     424186 | PA      | $424186.00     | 0.01%             | 2029-11-08      | Floating      | 7.69%                 | No            |                  3 | On Loan: No      |
| WRE Sports Investments LLC                                                                      | WRE Sports Investments LLC/Delayed Tranche Note 7/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1979403 | PA      | $1979403.21    | 0.04%             | 2031-07-28      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| BCTO Ignition Purchaser, Inc.                                                                   | BCTO Ignition Purchaser, Inc./First Amendment Term Loan 3/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     635333 | PA      | $635333.17     | 0.01%             | 2030-10-18      | Floating      | 11.17%                | No            |                  3 | On Loan: No      |
| Edelman Financial Engines Center, LLC, The                                                      | Edelman Financial Engines Center, LLC, The/Term Loan 12/24                                                                    | CUSIP: 27943UAM8<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |   13278130 | PA      | $13256486.81   | 0.27%             | 2028-04-07      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Shur-Co Acquisition, Inc.                                                                       | Shur-Co Acquisition, Inc./Initial Term Loan 6/21                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2622277 | PA      | $2622276.70    | 0.05%             | 2030-07-01      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Semper Holding BV                                                                               | Semper Holding BV/Facility B2 Commitment 02/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |   22352941 | PA      | $25836771.23   | 0.52%             | 2031-02-10      | Floating      | 7.45%                 | No            |                  3 | On Loan: No      |
| Aerin Medical Inc.                                                                              | Aerin Medical Inc./Delayed Draw Term Loan B 12/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     377233 | PA      | $373460.67     | 0.01%             | 2030-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Aerin Medical Inc.                                                                              | Aerin Medical Inc./Delayed Draw Term Loan C 12/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     377233 | PA      | $373460.67     | 0.01%             | 2030-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| PCMI Parent, LLC                                                                                | PCMI Parent, LLC/Revolver 3/25                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     628353 | PA      | $628353.00     | 0.01%             | 2032-03-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| IFH Franchisee Holdings, LLC                                                                    | IFH Franchisee Holdings, LLC/Delayed Draw Term Loan 12/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     880198 | PA      | $880198.00     | 0.02%             | 2029-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| IFH Franchisee Holdings, LLC                                                                    | IFH Franchisee Holdings, LLC/Initial Term Loan 12/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3859226 | PA      | $3859225.92    | 0.08%             | 2029-12-20      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| Captive Resources Midco, LLC                                                                    | Captive Resources Midco, LLC/Initial Term Loan 7/22                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2352837 | PA      | $2352836.75    | 0.05%             | 2029-07-01      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Captive Resources Midco, LLC                                                                    | Captive Resources Midco, LLC/Revolver 6/22                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     185458 | PA      | $185458.00     | 0.00%             | 2028-07-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Hyland Software, Inc.                                                                           | Hyland Software, Inc./Closing Date Term Loan 09/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   10004595 | PA      | $10004594.76   | 0.20%             | 2030-09-19      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Hyland Software, Inc.                                                                           | Hyland Software, Inc./Revolver Credit 09/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     625955 | PA      | $625955.00     | 0.01%             | 2029-09-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Hamsard 3713 Limited                                                                            | Hamsard 3713 Limited/Acquisition Facility 08/2023                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3968210 | PA      | $4586677.13    | 0.09%             | 2030-11-22      | Floating      | 10.50%                | No            |                  3 | On Loan: No      |
| Hamsard 3713 Limited                                                                            | Hamsard 3713 Limited/Facility B 08/2023                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    8540683 | PA      | $9871795.64    | 0.20%             | 2030-11-22      | Floating      | 8.74%                 | No            |                  3 | On Loan: No      |
| Severin Acquisition, LLC                                                                        | Severin Acquisition, LLC/Revolver 9/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5767510 | PA      | $5652159.80    | 0.11%             | 2031-10-01      | Floating      | 8.18%                 | No            |                  3 | On Loan: No      |
| Highline Aftermarket Acquisition, LLC                                                           | Highline Aftermarket Acquisition, LLC/Revolving Credit Loan 08/24                                                             | CUSIP: 43110HAE9<br>LEI: 254900Q5W6G5KG3GHJ04 | Long             | LON              | CORP              | US        |       1640 | PA      | $1640.00       | 0.00%             | 2028-11-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Mustang Prospects Purchaser, LLC                                                                | Mustang Prospects Purchaser, LLC/Revolver 6/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     283639 | PA      | $283639.00     | 0.01%             | 2031-06-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Mustang Prospects Purchaser, LLC                                                                | Mustang Prospects Purchaser, LLC/Initial Term Loan 6/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1505388 | PA      | $1505388.00    | 0.03%             | 2031-06-13      | Floating      | 8.94%                 | No            |                  3 | On Loan: No      |
| Mustang Prospects Purchaser, LLC                                                                | Mustang Prospects Purchaser, LLC/Delayed Draw Term (USD) Loan 6/24                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     354209 | PA      | $354209.00     | 0.01%             | 2031-06-13      | Floating      | 8.94%                 | No            |                  3 | On Loan: No      |
| Mustang Prospects Purchaser, LLC                                                                | Mustang Prospects Purchaser, LLC/Multi-Currency Delayed Draw Term Loan 6/24                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     366380 | PA      | $366380.00     | 0.01%             | 2031-06-13      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| PX HoldCo3 Limited                                                                              | PX HoldCo3 Limited/Facility B 04/21                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2947368 | PA      | $3823089.58    | 0.08%             | 2027-04-27      | Floating      | 10.86%                | No            |                  3 | On Loan: No      |
| PX HoldCo3 Limited                                                                              | PX HoldCo3 Limited/Committed Additional Facility 04/21                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     221053 | PA      | $286731.97     | 0.01%             | 2027-04-27      | Floating      | 11.10%                | No            |                  3 | On Loan: No      |
| Ristretto Bidco B.V.                                                                            | Ristretto Bidco B.V./Original USD Term Loan 12/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   26960189 | PA      | $26420984.83   | 0.54%             | 2030-12-13      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| Ristretto Bidco B.V.                                                                            | Ristretto Bidco B.V./Original Delayed Draw Term Loan 12/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5884344 | PA      | $5766657.60    | 0.12%             | 2030-12-13      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| Ristretto Bidco B.V.                                                                            | Ristretto Bidco B.V./Revolver 12/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3530823 | PA      | $3460206.54    | 0.07%             | 2030-12-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ESHA Intermediate, LLC                                                                          | ESHA Intermediate, LLC/Closing Date Term Loan 12/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1643648 | PA      | $1627211.52    | 0.03%             | 2032-12-22      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| ESHA Intermediate, LLC                                                                          | ESHA Intermediate, LLC/Delayed Draw Term Loan 12/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     318536 | PA      | $315350.64     | 0.01%             | 2032-12-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ESHA Intermediate, LLC                                                                          | ESHA Intermediate, LLC/Revolver 12/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     285417 | PA      | $282562.83     | 0.01%             | 2032-12-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| U.S. Urology Partners, LLC                                                                      | U.S. Urology Partners, LLC/Initial Term Loan 4/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1501015 | PA      | $1501015.06    | 0.03%             | 2032-04-08      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Wealth Enhancement Group, LLC                                                                   | Wealth Enhancement Group, LLC/Delayed Draw Term Loan 1/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     681761 | PA      | $674943.81     | 0.01%             | 2028-10-02      | Floating      | 8.16%                 | No            |                  3 | On Loan: No      |
| SCIH Salt Holdings Inc.                                                                         | SCIH Salt Holdings Inc./Term Loan B 11/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   34067940 | PA      | $33955515.56   | 0.69%             | 2029-01-31      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| PracticeTek Purchaser, LLC                                                                      | PracticeTek Purchaser, LLC/Initial Term Loan 8/23                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7444518 | PA      | $7444517.79    | 0.15%             | 2029-08-30      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| PracticeTek Purchaser, LLC                                                                      | PracticeTek Purchaser, LLC/Delayed Draw Term Loan 8/23                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     107070 | PA      | $107070.02     | 0.00%             | 2029-08-30      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| PracticeTek Purchaser, LLC                                                                      | PracticeTek Purchaser, LLC/Revolver 8/23                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $1000.00       | 0.00%             | 2029-08-30      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Collision SP Subco, LLC                                                                         | Collision SP Subco, LLC/Delayed Draw Term Loan 4/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     711077 | PA      | $711077.34     | 0.01%             | 2030-01-29      | Floating      | 8.46%                 | No            |                  3 | On Loan: No      |
| VRC Companies, LLC                                                                              | VRC Companies, LLC/Term Loan 6/21                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   16150891 | PA      | $16150890.95   | 0.33%             | 2027-06-29      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| VRC Companies, LLC                                                                              | VRC Companies, LLC/Revolving Loan 06/21                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1341667 | PA      | $1341666.66    | 0.03%             | 2027-06-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| City Line Distributors LLC                                                                      | City Line Distributors LLC/Term Loan 8/23                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     307418 | PA      | $307417.89     | 0.01%             | 2028-08-31      | Floating      | 9.93%                 | No            |                  3 | On Loan: No      |
| City Line Distributors LLC                                                                      | City Line Distributors LLC/Delayed Draw Term Loan 08/2023                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     123597 | PA      | $123596.54     | 0.00%             | 2028-08-31      | Floating      | 9.93%                 | No            |                  3 | On Loan: No      |
| City Line Distributors LLC                                                                      | City Line Distributors LLC/Revolver 08/2023                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1500 | PA      | $1500.00       | 0.00%             | 2028-08-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| GNZ Energy Bidco Limited                                                                        | GNZ Energy Bidco Limited/Facility B 5/22                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NZ        |   19293476 | PA      | $11086993.71   | 0.23%             | 2027-07-26      | Floating      | 8.51%                 | No            |                  3 | On Loan: No      |
| GNZ Energy Bidco Limited                                                                        | GNZ Energy Bidco Limited/Facility C 5/22                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NZ        |    1962048 | PA      | $1127490.68    | 0.02%             | 2027-07-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| HH-Stella, Inc.                                                                                 | HH-Stella, Inc./2023 DDTL B 9/23                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     852453 | PA      | $852453.15     | 0.02%             | 2028-04-24      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Alfred AcquiCo B.V.                                                                             | Alfred AcquiCo B.V./Facility B1 07/22                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1718750 | PA      | $1986626.75    | 0.04%             | 2029-09-17      | Floating      | 7.70%                 | No            |                  3 | On Loan: No      |
| Waverly Advisors, LLC                                                                           | Waverly Advisors, LLC/k/a WA Asset Management, LLC)/ Delayed Draw Term Loan D 02/26                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   12188801 | PA      | $12188801.00   | 0.25%             | 2028-03-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Prime Dental Alliance B.V.                                                                      | Prime Dental Alliance B.V./Additional Term Facility 2 09/23                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    3182577 | PA      | $3678599.29    | 0.07%             | 2027-06-21      | Floating      | 9.88%                 | No            |                  3 | On Loan: No      |
| USI, Inc.                                                                                       | USI, Inc./Term Loan B 12/24                                                                                                   | CUSIP: 90351NAR6<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |    2705951 | PA      | $2697508.56    | 0.05%             | 2029-11-21      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| ECG Bidco S.A.S.                                                                                | ECG Bidco S.A.S./CAR Facility 4 (EUR) 02/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    2264151 | PA      | $2617031.53    | 0.05%             | 2029-05-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| LeanTaaS Holdings, Inc.                                                                         | LeanTaaS Holdings, Inc./Initial Term Loan 7/22                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2634778 | PA      | $2582082.44    | 0.05%             | 2028-07-12      | Floating      | 11.45%                | No            |                  3 | On Loan: No      |
| LeanTaaS Holdings, Inc.                                                                         | LeanTaaS Holdings, Inc./Tranche A Delayed Draw Term Loan 7/22                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1539062 | PA      | $1508280.43    | 0.03%             | 2028-07-12      | Floating      | 11.45%                | No            |                  3 | On Loan: No      |
| LeanTaaS Holdings, Inc.                                                                         | LeanTaaS Holdings, Inc./Tranche B Delayed Draw Term Loan 7/22                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2371300 | PA      | $2323874.00    | 0.05%             | 2028-07-12      | Floating      | 11.45%                | No            |                  3 | On Loan: No      |
| USI, Inc.                                                                                       | USI, Inc./(2030) TLB 12/24                                                                                                    | CUSIP: 90351NAQ8<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |    4848891 | PA      | $4830707.36    | 0.10%             | 2030-09-27      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Armorica Lux S.a.r.l.                                                                           | Armorica Lux S.a.r.l./EUR Term Loan 06/21                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    6500000 | PA      | $7201269.13    | 0.15%             | 2028-07-28      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| Essential Services Holding Corporation                                                          | Essential Services Holding Corporation/Initial Term Loan 6/24                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   21310914 | PA      | $20458477.44   | 0.42%             | 2031-06-17      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Drivecentric Holdings, LLC                                                                      | Drivecentric Holdings, LLC/Incremental Term Loan 7/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     448863 | PA      | $448863.00     | 0.01%             | 2031-08-15      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Drivecentric Holdings, LLC                                                                      | Drivecentric Holdings, LLC/Delayed Draw Term Loan 7/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     448863 | PA      | $448863.00     | 0.01%             | 2031-08-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| High Street Buyer, Inc.                                                                         | High Street Buyer, Inc./2025 Delayed Draw Term Loan 7/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     574777 | PA      | $574777.00     | 0.01%             | 2028-04-14      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Jewel Bidco Limited                                                                             | Jewel Bidco Limited/Facility B 07/21                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    7476871 | PA      | $7063503.67    | 0.14%             | 2028-07-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| DRS Holdings III, Inc.                                                                          | DRS Holdings III, Inc./Revolver 11/19                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     183255 | PA      | $183254.58     | 0.00%             | 2028-11-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Jewel Bidco Limited                                                                             | Jewel Bidco Limited/Acquisition Facility 07/21                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    4369985 | PA      | $4128385.79    | 0.08%             | 2028-07-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Centric Brands TopCo, LLC                                                                       | Centric Brands TopCo, LLC/Tranche A-2 Term Loan 2/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1054522 | PA      | $1054521.65    | 0.02%             | 2031-02-06      | Floating      | 11.67%                | No            |                  3 | On Loan: No      |
| Radius Aerospace, Inc.                                                                          | Radius Aerospace, Inc./Initial Term Loan 03/19                                                                                | CUSIP: 75046TAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    4654196 | PA      | $4654196.38    | 0.09%             | 2027-03-29      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Radius Aerospace, Inc.                                                                          | Radius Aerospace, Inc./Initial PIK Term Loan 03/19                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      15275 | PA      | $15274.70      | 0.00%             | 2027-03-29      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Radius Aerospace, Inc.                                                                          | Radius Aerospace, Inc./Revolving Loan 03/19                                                                                   | CUSIP: 75046TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     859641 | PA      | $859641.43     | 0.02%             | 2027-03-29      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| Radius Aerospace, Inc.                                                                          | Radius Aerospace, Inc./Revolving Loan 10/24 PIK Facility                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |        910 | PA      | $909.87        | 0.00%             | 2027-03-29      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| Talon Buyer Inc.                                                                                | Talon Buyer Inc./Delayed Draw Term Loan 7/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     615812 | PA      | $609653.88     | 0.01%             | 2032-07-15      | Floating      | 7.92%                 | No            |                  3 | On Loan: No      |
| Talon Buyer Inc.                                                                                | Talon Buyer Inc./Initial Term Loan 7/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     800555 | PA      | $792549.45     | 0.02%             | 2032-07-15      | Floating      | 7.92%                 | No            |                  3 | On Loan: No      |
| Talon Buyer Inc.                                                                                | Talon Buyer Inc./Revolver 7/25                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     224024 | PA      | $221783.76     | 0.00%             | 2032-07-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Mercatus Bidco Limited                                                                          | Mercatus Bidco Limited/ Facility B1 11/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1000000 | PA      | $1323591.70    | 0.03%             | 2032-11-24      | Floating      | 9.22%                 | No            |                  3 | On Loan: No      |
| YE Brands Holdings, LLC                                                                         | YE Brands Holdings, LLC/2023 Incremental Term Loan 9/23                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     412422 | PA      | $412421.89     | 0.01%             | 2027-10-18      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Ardonagh Midco 3 Limited                                                                        | Ardonagh Midco 3 Limited/(USD) Term Loan (First Lien) 06/24                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | AU        |   27678804 | PA      | $27004271.58   | 0.55%             | 2031-02-15      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Runway Bidco, LLC                                                                               | Runway Bidco, LLC/Delayed Draw Term Loan 12/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     258210 | PA      | $253045.80     | 0.01%             | 2031-12-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Runway Bidco, LLC                                                                               | Runway Bidco, LLC/Term Loan 12/24                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1031780 | PA      | $1011144.58    | 0.02%             | 2031-12-17      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Runway Bidco, LLC                                                                               | Runway Bidco, LLC/Revolver 12/24                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     115559 | PA      | $113247.82     | 0.00%             | 2031-12-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Auxadi Midco S.L.U.                                                                             | Auxadi Midco S.L.U./Senior Term Facility 1 7/21                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |     472728 | PA      | $546404.82     | 0.01%             | 2028-07-17      | Floating      | 6.78%                 | No            |                  3 | On Loan: No      |
| Monica Holdco (US), Inc.                                                                        | Monica Holdco (US), Inc./Incremental 1st Lien Term Loan 7/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4419871 | PA      | $4419870.63    | 0.09%             | 2030-07-12      | Floating      | 9.10%                 | No            |                  3 | On Loan: No      |
| Monica Holdco (US), Inc.                                                                        | Monica Holdco (US), Inc./Delayed Draw Term Loan 7/25                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2135261 | PA      | $2135261.00    | 0.04%             | 2030-07-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Zeppelin US Buyer Inc.                                                                          | Zeppelin US Buyer Inc./Initial Term Loan 7/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     402472 | PA      | $402472.00     | 0.01%             | 2032-08-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Zeppelin US Buyer Inc.                                                                          | Zeppelin US Buyer Inc./Delayed Draw Term Loan 7/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     123206 | PA      | $123206.00     | 0.00%             | 2032-08-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Zeppelin US Buyer Inc.                                                                          | Zeppelin US Buyer Inc./Initial Tranche A Revolver 7/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      63484 | PA      | $63484.00      | 0.00%             | 2032-08-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Patriot Container Corp.                                                                         | Patriot Container Corp./Closing Date Term B-2 Loan 9/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   26992303 | PA      | $26992303.07   | 0.55%             | 2030-09-09      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| Pretium PKG Holdings, Inc.                                                                      | Pretium PKG Holdings, Inc./Second-Out Term Loan 03/26                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2496680 | PA      | $2090969.77    | 0.04%             | 2032-03-01      | Floating      | 9.42%                 | No            |                  2 | On Loan: No      |
| Pretium PKG Holdings, Inc.                                                                      | Pretium PKG Holdings, Inc./First-Out Term Loan 03/26                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2574125 | PA      | $2558808.60    | 0.05%             | 2031-03-02      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| Pye-Barker Fire & Safety, LLC                                                                   | Pye-Barker Fire & Safety, LLC/Delayed Draw Term Loan 11/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     992334 | PA      | $993216.75     | 0.02%             | 2032-12-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| GTCR F Buyer Corp.                                                                              | GTCR F Buyer Corp./Initial Term Loan 9/23                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     881047 | PA      | $881047.44     | 0.02%             | 2030-09-06      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| GTCR F Buyer Corp.                                                                              | GTCR F Buyer Corp./Delayed Draw Term Loan 9/23                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     277440 | PA      | $277439.79     | 0.01%             | 2030-09-06      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| GTCR F Buyer Corp.                                                                              | GTCR F Buyer Corp./Revolver 9/23                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      45070 | PA      | $45070.00      | 0.00%             | 2029-09-06      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| NBLY 2021-1                                                                                     | NBLY 2021-1A A2                                                                                                               | CUSIP: 64016NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      23812 | PA      | $22816.96      | 0.00%             | 2051-04-30      | Fixed         | 3.58%                 | Yes           |                  3 | On Loan: No      |
| Neptune BidCo US Inc.                                                                           | NLSN 9.29% Secured Nts due 2029 144A                                                                                          | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |    8991000 | PA      | $9006509.48    | 0.18%             | 2029-04-15      | Fixed         | 9.29%                 | Yes           |                  2 | On Loan: No      |
| NEUB 2025-60                                                                                    | NEUB 2025-60A E                                                                                                               | CUSIP: 640974AA9<br>LEI: 254900LV0LNHKC2KQJ62 | Long             | ABS-CBDO         | CORP              | KY        |    1100000 | PA      | $1097526.10    | 0.02%             | 2039-04-22      | Floating      | 10.15%                | Yes           |                  3 | On Loan: No      |
| Grit Buyer, Inc.                                                                                | Grit Buyer, Inc./Revolver 7/25                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      94224 | PA      | $94224.00      | 0.00%             | 2031-07-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Grit Buyer, Inc.                                                                                | Grit Buyer, Inc./Term Loan 7/25                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     770335 | PA      | $770335.00     | 0.02%             | 2032-07-16      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Grit Buyer, Inc.                                                                                | Grit Buyer, Inc./Delayed Draw Term Loan 7/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     385168 | PA      | $385168.00     | 0.01%             | 2032-07-16      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| EuroParcs Topholding B.V.                                                                       | EuroParcs Topholding B.V./ Senior Term Loan Facility 03/26                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     574622 | PA      | $664179.96     | 0.01%             | 2029-07-31      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| TransMontaigne Operating Company L.P.                                                           | TransMontaigne Operating Company L.P./Term Loan B 10/21                                                                       | CUSIP: 89376WAH1<br>LEI: 549300V4T155OZCUJ734 | Long             | LON              | CORP              | US        |    5824011 | PA      | $5810907.41    | 0.12%             | 2030-03-18      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Poseidon Intermediateco, Inc.                                                                   | Poseidon Intermediateco, Inc./Initial Term Loan 6/25                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1026442 | PA      | $1026442.00    | 0.02%             | 2032-06-16      | Floating      | 8.18%                 | No            |                  3 | On Loan: No      |
| People Corporation                                                                              | People Corporation/ Delayed Draw 5 Term Loan 03/26                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    3151831 | PA      | $2265711.31    | 0.05%             | 2031-02-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| NMC CLO-2                                                                                       | NMC CLO-2A ER                                                                                                                 | CUSIP: 64754KAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     937500 | PA      | $910354.69     | 0.02%             | 2038-01-15      | Floating      | 9.37%                 | Yes           |                  3 | On Loan: No      |
| Banyan Software Holdings, LLC                                                                   | Banyan Software Holdings, LLC/Delayed Draw Term Loan 12/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2538032 | PA      | $2538031.91    | 0.05%             | 2031-01-02      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Banyan Software Holdings, LLC                                                                   | Banyan Software Holdings, LLC/Revolver 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     509390 | PA      | $509390.00     | 0.01%             | 2031-01-02      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Adonis Bidco, Inc.                                                                              | Adonis Bidco, Inc./Multi Currency Revolver 2/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5688478 | PA      | $5574708.44    | 0.11%             | 2031-11-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Adonis Bidco, Inc.                                                                              | Adonis Bidco, Inc./Closing Date Term Loan 2/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   51420718 | PA      | $50392303.68   | 1.02%             | 2032-02-25      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| Adonis Bidco, Inc.                                                                              | Adonis Bidco, Inc./Delayed Draw Term Loan 2/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   15005420 | PA      | $14705311.60   | 0.30%             | 2032-02-25      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Berner Food & Beverage, LLC                                                                     | Berner Food & Beverage, LLC/Second Amendment Incremental Term Loan 12/24                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     215440 | PA      | $215439.84     | 0.00%             | 2027-07-30      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| Sport Maska Inc.                                                                                | Sport Maska Inc./Multi-Currency Revolver 12/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    3353645 | PA      | $2410786.43    | 0.05%             | 2030-12-31      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Sport Maska Inc.                                                                                | Sport Maska Inc./CAD Term Loan 12/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    9490868 | PA      | $6822563.14    | 0.14%             | 2030-12-31      | Floating      | 7.78%                 | No            |                  3 | On Loan: No      |
| NMC Skincare Intermediate Holdings II, LLC                                                      | NMC Skincare Intermediate Holdings II, LLC/Term Loan 10/18                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1738637 | PA      | $1651705.52    | 0.03%             | 2028-10-31      | Floating      | 10.30%                | No            |                  3 | On Loan: No      |
| SageSure Holdings, LLC                                                                          | SageSure Holdings, LLC/Amendment No. 1 Incremental Term Loan 1/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7683812 | PA      | $7683811.93    | 0.16%             | 2030-01-28      | Floating      | 8.53%                 | No            |                  3 | On Loan: No      |
| ExtraHop Networks, Inc.                                                                         | ExtraHop Networks, Inc./Last Out Term Loan 7/21                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2255724 | PA      | $2233166.60    | 0.05%             | 2027-07-22      | Floating      | 10.27%                | No            |                  3 | On Loan: No      |
| ExtraHop Networks, Inc.                                                                         | ExtraHop Networks, Inc./Last Out Delayed Draw Term Loan 7/21                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     985349 | PA      | $975495.61     | 0.02%             | 2027-07-22      | Floating      | 10.27%                | No            |                  3 | On Loan: No      |
| Aledade, Inc.                                                                                   | Aledade, Inc./ Revolver 11/25                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4682634 | PA      | $4635807.66    | 0.09%             | 2028-11-21      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| AMCP Clean Acquisition Company, LLC                                                             | AMCP Clean Acquisition Company, LLC/ Amendment No. 3 Incremental Delayed Draw Term Loan 12/25                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     527136 | PA      | $527136.00     | 0.01%             | 2030-06-17      | Floating      | 7.95%                 | No            |                  3 | On Loan: No      |
| HS Purchaser, LLC & Help/Systems Holdings, Inc.                                                 | HS Purchaser, LLC & Help/Systems Holdings, Inc./ Term Loan 11/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   40781666 | PA      | $38563142.99   | 0.78%             | 2029-05-21      | Floating      | 10.16%                | No            |                  3 | On Loan: No      |
| Wealth Enhancement Group, LLC                                                                   | Wealth Enhancement Group, LLC/2024 DDTL 12/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5886437 | PA      | $5827573.12    | 0.12%             | 2028-10-02      | Floating      | 7.90%                 | No            |                  3 | On Loan: No      |
| Adonis Acquisition Holdings LLC                                                                 | Adonis Acquisition Holdings LLC/ Delayed Draw Term Loan 11/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1001031 | PA      | $1001031.19    | 0.02%             | 2030-02-07      | Floating      | 9.28%                 | No            |                  3 | On Loan: No      |
| Laboratories Bidco LLC                                                                          | Laboratories Bidco LLC/Second Amendment Incremental Term Loan 4/20                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     605404 | PA      | $466161.02     | 0.01%             | 2029-07-23      | Floating      | 5.57%                 | No            |                  3 | On Loan: No      |
| North Haven Fairway Buyer, LLC                                                                  | North Haven Fairway Buyer, LLC/ Delayed Draw Term Loan E 3/26                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1503526 | PA      | $1503526.00    | 0.03%             | 2028-05-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| eCapital Finance Corp.                                                                          | eCapital Finance Corp./Fifth Amendment Incremental Term Loan 12/24                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    3792750 | PA      | $3754822.50    | 0.08%             | 2029-09-29      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| PDDS Holdco, Inc.                                                                               | PDDS Holdco, Inc./2025 Term Loan 10/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     572948 | PA      | $567218.52     | 0.01%             | 2031-09-30      | Floating      | 9.63%                 | No            |                  3 | On Loan: No      |
| Chariot Buyer LLC                                                                               | Chariot Buyer LLC/Term Loan B 07/25                                                                                           | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |   10354188 | PA      | $10246918.77   | 0.21%             | 2032-09-08      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| RSK Group Limited                                                                               | RSK Group Limited/Facility B Sterling Tranche (GBP) 07/21                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1272450 | PA      | $1684204.36    | 0.03%             | 2028-08-07      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| RSK Group Limited                                                                               | RSK Group Limited/Acquisition Facility (GBP) 07/21                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3497464 | PA      | $4629214.46    | 0.09%             | 2030-09-06      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Laboratories Bidco LLC                                                                          | Laboratories Bidco LLC/Restatement Date Term Loan 7/21                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4162915 | PA      | $3205444.44    | 0.07%             | 2029-07-23      | Floating      | 5.60%                 | No            |                  3 | On Loan: No      |
| Laboratories Bidco LLC                                                                          | Laboratories Bidco LLC/Delayed Draw Term Loan 7/21                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     303394 | PA      | $233613.42     | 0.00%             | 2029-07-23      | Floating      | 5.60%                 | No            |                  3 | On Loan: No      |
| Laboratories Bidco LLC                                                                          | Laboratories Bidco LLC/Revolver 7/21                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1626811 | PA      | $1252644.81    | 0.03%             | 2029-07-23      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| Radnet Management, Inc.                                                                         | Radnet Management, Inc./Term Loan B 11/24                                                                                     | CUSIP: 75049EAR5<br>LEI: 549300T3TJ6A0P5TXM13 | Long             | LON              | CORP              | US        |    2380576 | PA      | $2382551.78    | 0.05%             | 2031-04-18      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Revalize, Inc.                                                                                  | Revalize, Inc./Revolving Loan 04/21                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     227096 | PA      | $195302.97     | 0.00%             | 2029-04-16      | Floating      | 9.60%                 | No            |                  3 | On Loan: No      |
| HighPeak Energy, Inc.                                                                           | HighPeak Energy, Inc./Term Loan 09/23                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   14902531 | PA      | $14902531.40   | 0.30%             | 2028-09-29      | Floating      | 11.35%                | No            |                  3 | On Loan: No      |
| ASPIRE BIDCO LIMITED                                                                            | ASPIRE BIDCO LIMITED/Additional Facility B1 07/22                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    4218289 | PA      | $5583292.41    | 0.11%             | 2028-09-04      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| Centric Brands TopCo, LLC                                                                       | Centric Brands TopCo, LLC/Tranche A-1 Term Loan 2/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     633191 | PA      | $633191.34     | 0.01%             | 2031-02-06      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| Zayo Group Holdings, Inc.                                                                       | Zayo Group Holdings, Inc./Term Loan 09/25                                                                                     | CUSIP: 98919XAH4<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |    9754308 | PA      | $9562538.73    | 0.19%             | 2030-03-11      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| RSK Group Limited                                                                               | RSK Group Limited/Facility B EuroTranche 07/21                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1061271 | PA      | $1226675.46    | 0.02%             | 2030-09-06      | Floating      | 7.39%                 | No            |                  3 | On Loan: No      |
| DecoPac, Inc.                                                                                   | DecoPac, Inc./2024 Term B Loan 9/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   27719521 | PA      | $27719521.02   | 0.56%             | 2030-05-14      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Clearstead Advisors, LLC                                                                        | Clearstead Advisors, LLC/6th Amendment Term B Loan 5/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      99190 | PA      | $99190.00      | 0.00%             | 2028-02-01      | Floating      | 8.23%                 | No            |                  3 | On Loan: No      |
| Doxim Inc.                                                                                      | Doxim Inc./Revolver 9/25                                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2197606 | PA      | $2197606.00    | 0.04%             | 2027-11-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Global Music Rights, LLC                                                                        | Global Music Rights, LLC/Term Loan 12/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   64370100 | PA      | $64370100.00   | 1.31%             | 2031-12-22      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Global Music Rights, LLC                                                                        | Global Music Rights, LLC/Revolver 12/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6441900 | PA      | $6441900.00    | 0.13%             | 2031-12-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Titan BW Borrower L.P.                                                                          | Titan BW Borrower L.P./Revolver 7/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5366955 | PA      | $5313285.45    | 0.11%             | 2032-07-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Titan BW Borrower L.P.                                                                          | Titan BW Borrower L.P./Term Loan 7/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   30173632 | PA      | $29871895.53   | 0.61%             | 2032-07-26      | Floating      | 9.04%                 | No            |                  3 | On Loan: No      |
| Witherslack Bidco Limited                                                                       | Witherslack Bidco Limited/ Acquisition Tranche Commitment 12/24                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    6163626 | PA      | $8158124.21    | 0.17%             | 2028-08-17      | Floating      | 10.53%                | No            |                  3 | On Loan: No      |
| Project Ruby Ultimate Parent Corp.                                                              | Project Ruby Ultimate Parent Corp./Term Loan B 07/25                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   12707833 | PA      | $12636415.19   | 0.26%             | 2028-03-10      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| TCP Hawker Intermediate LLC                                                                     | TCP Hawker Intermediate LLC/Rollover Ninth Amendment Incremental Term Loan 12/24                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6243166 | PA      | $6118302.84    | 0.12%             | 2029-08-30      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| OAKC 2016-13                                                                                    | OAKC 2016-13A SUB                                                                                                             | CUSIP: 67090VAB7<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-O            | CORP              | KY        |    2320000 | PA      | $963723.36     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2016-13                                                                                    | OAKC 2016-13A ER2                                                                                                             | CUSIP: 67090VAF8<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |    1220000 | PA      | $1196090.44    | 0.02%             | 2037-10-21      | Floating      | 9.42%                 | Yes           |                  3 | On Loan: No      |
| OCP 2015-10                                                                                     | OCP 2015-10A SUB                                                                                                              | CUSIP: 67092EAE7<br>LEI: 254900FZYL5HDKV64882 | Long             | ABS-O            | CORP              | KY        |   11130000 | PA      | $4113258.45    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OCP 2015-10                                                                                     | OCP 2015-10A ER3                                                                                                              | CUSIP: 67092EAL1<br>LEI: 254900FZYL5HDKV64882 | Long             | ABS-CBDO         | CORP              | KY        |    1000000 | PA      | $979431.00     | 0.02%             | 2038-01-26      | Floating      | 9.02%                 | Yes           |                  3 | On Loan: No      |
| OAKC 2020-6                                                                                     | OAKC 2020-6A SUB                                                                                                              | CUSIP: 67098QAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3209000 | PA      | $2449898.21    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2020-6                                                                                     | OAKC 2020-6A ER2                                                                                                              | CUSIP: 67098QAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1100000 | PA      | $1081698.20    | 0.02%             | 2037-10-20      | Floating      | 8.92%                 | Yes           |                  3 | On Loan: No      |
| OAKC 2012-7                                                                                     | OAKC 2012-7A SUB                                                                                                              | CUSIP: 67102UAB5<br>LEI: 549300LXLBAFTIMXZT54 | Long             | ABS-O            | CORP              | KY        |     500000 | PA      | $209916.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2015-12                                                                                    | OAKC 2015-12A SUB                                                                                                             | CUSIP: 67110BAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   12070000 | PA      | $4978814.65    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OHALF 2016-1                                                                                    | OHALF 2016-1A SUB                                                                                                             | CUSIP: 67110VAC1<br>LEI: 54930016024GMIAF7A82 | Long             | ABS-O            | CORP              | KY        |   10837024 | PA      | $4994361.72    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OCP 2018-15                                                                                     | OCP 2018-15A SUB                                                                                                              | CUSIP: 67112QAB2<br>LEI: 254900WK4JKXAXOKTL68 | Long             | ABS-O            | CORP              | KY        |   12753028 | PA      | $4612629.94    | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2019-3                                                                                     | OAKC 2019-3A SUB                                                                                                              | CUSIP: 67112TAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3110000 | PA      | $1666176.28    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2020-5                                                                                     | OAKC 2020-5A SUB                                                                                                              | CUSIP: 67113NAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3370000 | PA      | $2251894.66    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2021-9                                                                                     | OAKC 2021-9A SUB                                                                                                              | CUSIP: 67114DAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1190000 | PA      | $830065.46     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2021-9                                                                                     | OAKC 2021-9A ER                                                                                                               | CUSIP: 67114DAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2050000 | PA      | $2038048.50    | 0.04%             | 2037-10-19      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| OAKC 2021-16                                                                                    | OAKC 2021-16A SUB                                                                                                             | CUSIP: 67115MAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    5988321 | PA      | $3433864.95    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2018-1                                                                                     | OAKC 2018-1A SUB                                                                                                              | CUSIP: 67115XAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1912500 | PA      | $1208642.63    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OCP 2023-30                                                                                     | OCP 2023-30A SUB                                                                                                              | CUSIP: 67117QAC5<br>LEI: 2138008RM9AHM8ZQ8119 | Long             | ABS-O            | CORP              | JE        |    3970505 | PA      | $2838164.62    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OCPA 2023-29                                                                                    | OCPA 2023-29A ER                                                                                                              | CUSIP: 67118EAG2<br>LEI: 2138009EGVOGD3J5GI42 | Long             | ABS-CBDO         | CORP              | JE        |    1000000 | PA      | $950363.00     | 0.02%             | 2036-01-20      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| OHACP 2024-17                                                                                   | OHACP 2024-17A SUB                                                                                                            | CUSIP: 67120NAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    2070000 | PA      | $1414422.72    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2021-10R                                                                                   | OAKC 2021-10RA E                                                                                                              | CUSIP: 67121WAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1800000 | PA      | $1738004.40    | 0.04%             | 2038-07-18      | Floating      | 8.52%                 | Yes           |                  3 | On Loan: No      |
| OCP 2025-48                                                                                     | OCP 2025-48A SUB                                                                                                              | CUSIP: 67123AAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    8270000 | PA      | $6719672.72    | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Evolent Health LLC                                                                              | Evolent Health LLC/ Revolver 8/22                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       3000 | PA      | $3000.00       | 0.00%             | 2029-12-06      | Floating      | 7.66%                 | No            |                  3 | On Loan: No      |
| Centric Brands LLC                                                                              | Centric Brands LLC/2024 Converting Term Loan 2/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     963740 | PA      | $963739.55     | 0.02%             | 2029-08-06      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Rodeo AcquisitionCo LLC                                                                         | Rodeo AcquisitionCo LLC/Initial Term Loan 7/21                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3258106 | PA      | $3258105.85    | 0.07%             | 2029-07-26      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Optio Group Limited                                                                             | Optio Group Limited/Acquisition Facility 2 08/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1398917 | PA      | $1851594.93    | 0.04%             | 2032-03-31      | Floating      | 10.15%                | No            |                  3 | On Loan: No      |
| Rodeo AcquisitionCo LLC                                                                         | Rodeo AcquisitionCo LLC/Revolver 7/21                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     487517 | PA      | $487516.99     | 0.01%             | 2029-07-26      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| AI Titan Parent, Inc.                                                                           | AI Titan Parent, Inc./Term Loan 8/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8945918 | PA      | $8856458.82    | 0.18%             | 2031-08-29      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Compass Bidco Limited.                                                                          | Compass Bidco Limited./Unitranche Facility 04/24                                                                              | CUSIP: 58503UAE3<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | GB        |   12356412 | PA      | $16354844.40   | 0.33%             | 2031-04-15      | Floating      | 10.50%                | No            |                  3 | On Loan: No      |
| PestCo, LLC                                                                                     | PestCo, LLC/Revolver 8/25                                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      16779 | PA      | $16779.00      | 0.00%             | 2030-08-06      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| OCP 2024-34                                                                                     | OCP 2024-34A SUB                                                                                                              | CUSIP: 67570NAC2<br>LEI: 213800MLX1S56O7NHK45 | Long             | ABS-O            | CORP              | US        |     750000 | PA      | $436851.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OCP 2026-49                                                                                     | OCP 2026-49A SUB                                                                                                              | CUSIP: 67570XAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     315000 | PA      | $262486.98     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OCT63 2024-2                                                                                    | OCT63 2024-2A E                                                                                                               | CUSIP: 67578WAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1166667 | PA      | $1145516.49    | 0.02%             | 2037-07-20      | Floating      | 10.17%                | Yes           |                  3 | On Loan: No      |
| OCT61 2023-2                                                                                    | OCT61 2023-2A ER                                                                                                              | CUSIP: 675948AJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     850000 | PA      | $834685.55     | 0.02%             | 2038-04-20      | Floating      | 11.56%                | Yes           |                  3 | On Loan: No      |
| OCPA 2025-41                                                                                    | OCPA 2025-41A D2                                                                                                              | CUSIP: 675953AN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1500000 | PA      | $1500183.00    | 0.03%             | 2037-04-21      | Fixed         | 8.00%                 | Yes           |                  3 | On Loan: No      |
| Compass Bidco Limited.                                                                          | Compass Bidco Limited./CAR Facility 04/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    5747158 | PA      | $7606891.28    | 0.15%             | 2031-04-15      | Floating      | 10.58%                | No            |                  3 | On Loan: No      |
| PCIA SPV-3, LLC                                                                                 | PCIA SPV-3, LLC/ Delayed Draw Term Loan 1/26                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2265985 | PA      | $2265985.00    | 0.05%             | 2029-08-01      | Floating      | 8.41%                 | No            |                  3 | On Loan: No      |
| OHALF 2013-1                                                                                    | OHALF 2013-1A SUB                                                                                                             | CUSIP: 67706FAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1935000 | PA      | $540615.78     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2017-14                                                                                    | OAKC 2017-14A SUB                                                                                                             | CUSIP: 67706YAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3042552 | PA      | $1759103.16    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2017-15                                                                                    | OAKC 2017-15A SUB                                                                                                             | CUSIP: 67707AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   10142064 | PA      | $3802706.04    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2019-2                                                                                     | OAKC 2019-2A SUB                                                                                                              | CUSIP: 67707FAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     670000 | PA      | $404360.41     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OAKC 2021-8                                                                                     | OAKC 2021-8A SUB                                                                                                              | CUSIP: 67707HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     640000 | PA      | $366958.08     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Raven Acquisition Holdings, LLC                                                                 | Raven Acquisition Holdings, LLC/Revolver 11/24                                                                                | CUSIP: 75419XAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    1423768 | PA      | $1395292.64    | 0.03%             | 2029-11-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| MCVIII Bidco Group B.V.                                                                         | MCVIII Bidco Group B.V./Acquisition Facility 07/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |      95232 | PA      | $110074.44     | 0.00%             | 2032-07-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| MCVIII Bidco Group B.V.                                                                         | MCVIII Bidco Group B.V./Facility B Tranche B2 07/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     904768 | PA      | $1045781.13    | 0.02%             | 2032-07-22      | Floating      | 7.88%                 | No            |                  3 | On Loan: No      |
| Berner Food & Beverage, LLC                                                                     | Berner Food & Beverage, LLC/Term Loan B 7/21                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2527441 | PA      | $2527440.70    | 0.05%             | 2027-07-30      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| Berner Food & Beverage, LLC                                                                     | Berner Food & Beverage, LLC/Revolver 7/21                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     261817 | PA      | $261816.80     | 0.01%             | 2026-07-30      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| Sunk Rock Foundry Partners LP                                                                   | Sunk Rock Foundry Partners LP/Term Loan A1 10/17                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     215729 | PA      | $215729.13     | 0.00%             | 2027-12-31      | Floating      | 9.52%                 | No            |                  3 | On Loan: No      |
| Beacon Pointe Harmony, LLC                                                                      | Beacon Pointe Harmony, LLC/Third Amendment Delayed Draw Term Loan 6/24                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7766572 | PA      | $7766571.72    | 0.16%             | 2028-12-29      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Aldinger Company                                                                                | Aldinger Company/Delayed Draw Term Loan 8/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     387361 | PA      | $387361.22     | 0.01%             | 2030-10-18      | Floating      | 8.44%                 | No            |                  3 | On Loan: No      |
| Celnor Group Limited                                                                            | Celnor Group Limited/Acquisition/Capex Facility 3 07/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    5231161 | PA      | $6923921.27    | 0.14%             | 2031-08-05      | Floating      | 9.29%                 | No            |                  3 | On Loan: No      |
| CVP Holdco, Inc.                                                                                | CVP Holdco, Inc./Initial Term Loan 6/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   19710166 | PA      | $19710166.00   | 0.40%             | 2031-06-30      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| CVP Holdco, Inc.                                                                                | CVP Holdco, Inc./Revolver 6/24                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3538579 | PA      | $3538579.00    | 0.07%             | 2030-06-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| GHX Ultimate Parent Corporation                                                                 | GHX Ultimate Parent Corporation/Revolver 12/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1946488 | PA      | $1907558.24    | 0.04%             | 2033-02-04      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Merit Financial Group, LLC                                                                      | Merit Financial Group, LLC/Revolver 8/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     197980 | PA      | $197980.00     | 0.00%             | 2032-08-27      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Witherslack Bidco Limited                                                                       | Witherslack Bidco Limited/Facility B1 GBP 07/21                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    5701655 | PA      | $7546663.60    | 0.15%             | 2028-08-17      | Floating      | 10.53%                | No            |                  3 | On Loan: No      |
| Witherslack Bidco Limited                                                                       | Witherslack Bidco Limited/Capex 1 Facility GBP 07/21                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     412138 | PA      | $545502.29     | 0.01%             | 2028-08-17      | Floating      | 10.53%                | No            |                  3 | On Loan: No      |
| Merit Financial Group, LLC                                                                      | Merit Financial Group, LLC/Delayed Draw Term Loan 8/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     373303 | PA      | $373303.00     | 0.01%             | 2032-08-27      | Floating      | 8.44%                 | No            |                  3 | On Loan: No      |
| Kairos Bidco Limited                                                                            | Kairos Bidco Limited/Revolver 7/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     115569 | PA      | $113257.62     | 0.00%             | 2032-07-21      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Project Boost Purchaser, LLC                                                                    | Project Boost Purchaser, LLC/Term Loan First Lien 7/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9746568 | PA      | $9379902.03    | 0.19%             | 2031-07-16      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Excelitas Technologies Corp.                                                                    | Excelitas Technologies Corp./Closing Date USD Term Loan 08/22                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2091578 | PA      | $2091578.00    | 0.04%             | 2029-08-13      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| VS Buyer, LLC                                                                                   | VS Buyer, LLC/2025-1 Initial Term Loan 07/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1000000 | PA      | $975000.00     | 0.02%             | 2031-04-12      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Phoenix Operating LLC                                                                           | Phoenix Operating LLC/ Amendment No. 7 Discretionary Delayed Draw Term Loan 2/26                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5255113 | PA      | $5255113.00    | 0.11%             | 2028-10-27      | Floating      | 10.80%                | No            |                  3 | On Loan: No      |
| BigHand UK Bidco Limited                                                                        | BigHand UK Bidco Limited/Facility B2 USD Commitment 06/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1060839 | PA      | $1060838.62    | 0.02%             | 2030-06-25      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| Resonetics, LLC                                                                                 | Resonetics, LLC/Term Loan B 07/25                                                                                             | CUSIP: 76118EAL2<br>LEI: 5493007F3QX6Z23QGO95 | Long             | LON              | CORP              | US        |    4918825 | PA      | $4892705.74    | 0.10%             | 2031-06-18      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                                      | Cloud Software Group, Inc./Ninth Amendment Refinancing Dollar Revolving Loan 09/22                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2574000 | PA      | $2368080.00    | 0.05%             | 2029-09-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| People Corporation                                                                              | People Corporation/ Delayed Draw 4 Term Loan Replacement 03/26                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     545695 | PA      | $392275.90     | 0.01%             | 2031-02-18      | Floating      | 7.59%                 | No            |                  3 | On Loan: No      |
| Pathstone Family Office LLC                                                                     | Pathstone Family Office LLC/Second Amendment Replacement Term Loan 6/24                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      74930 | PA      | $74929.92      | 0.00%             | 2029-05-15      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| ST Athena Global LLC                                                                            | ST Athena Global LLC/Revolver 6/24                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     695596 | PA      | $681684.08     | 0.01%             | 2029-06-26      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| ST Athena Global LLC                                                                            | ST Athena Global LLC/Initial Term Loan 6/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4122238 | PA      | $4039792.89    | 0.08%             | 2030-06-26      | Floating      | 8.94%                 | No            |                  3 | On Loan: No      |
| ST Athena Global LLC                                                                            | ST Athena Global LLC/Delayed Draw Term Loan 6/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     174370 | PA      | $170882.86     | 0.00%             | 2030-06-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ST Athena Global LLC                                                                            | ST Athena Global LLC/Initial UK Term Loan 6/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1865611 | PA      | $2419920.70    | 0.05%             | 2030-06-26      | Floating      | 8.98%                 | No            |                  3 | On Loan: No      |
| Titan BW Borrower L.P.                                                                          | Titan BW Borrower L.P./Delayed Draw Term Loan 7/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2519691 | PA      | $2494494.09    | 0.05%             | 2032-07-26      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Pathstone Family Office LLC                                                                     | Pathstone Family Office LLC/Second Amendment Delayed Draw Term Loan 6/24                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     721841 | PA      | $721841.00     | 0.01%             | 2029-05-15      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| Northwinds Holding, Inc.                                                                        | Northwinds Holding, Inc./2024 Delayed Draw Term Loan 8/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1858039 | PA      | $1858039.43    | 0.04%             | 2029-05-01      | Floating      | 9.08%                 | No            |                  3 | On Loan: No      |
| Envisage Dental UK Limited                                                                      | Envisage Dental UK Limited/Facility B 02/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2591599 | PA      | $3430218.47    | 0.07%             | 2031-04-08      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Envisage Dental UK Limited                                                                      | Envisage Dental UK Limited/Acquisition/Capex 02/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1854481 | PA      | $2454575.44    | 0.05%             | 2031-04-08      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Spitfire Bidco Limited                                                                          | Spitfire Bidco Limited/Facility B 09/23                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |   15340559 | PA      | $15340558.95   | 0.31%             | 2029-09-28      | Floating      | 10.66%                | No            |                  3 | On Loan: No      |
| BVI Medical, Inc.                                                                               | BVI Medical, Inc./Closing Date Term Loan 3/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   20306683 | PA      | $18682148.50   | 0.38%             | 2032-03-08      | Floating      | 9.92%                 | No            |                  3 | On Loan: No      |
| Thermostat Purchaser III, Inc.                                                                  | Thermostat Purchaser III, Inc./Revolver 8/21                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     100000 | PA      | $98000.00      | 0.00%             | 2028-08-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Thermostat Purchaser III, Inc.                                                                  | Thermostat Purchaser III, Inc./Second Lien Term Loan 8/21                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3575323 | PA      | $3503816.55    | 0.07%             | 2029-08-31      | Floating      | 11.07%                | No            |                  3 | On Loan: No      |
| Cority Software Inc.                                                                            | Cority Software Inc./2025 Initial Term Commitment 10/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6136873 | PA      | $5952766.48    | 0.12%             | 2032-11-01      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Unicorn Holdco Intermediate II LLC                                                              | Unicorn Holdco Intermediate II LLC/ Initial Term Loan 3/26                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1583059 | PA      | $1567228.41    | 0.03%             | 2033-03-23      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| Unicorn Holdco Intermediate II LLC                                                              | Unicorn Holdco Intermediate II LLC/ Revolver 3/26                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     288513 | PA      | $285627.87     | 0.01%             | 2033-03-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Invesco Vaf V Investments, LLC                                                                  | Invesco Vaf V Investments, LLC/Term Loan 07/23                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1500000 | PA      | $1500000.00    | 0.03%             | 2028-07-10      | Floating      | 14.50%                | No            |                  3 | On Loan: No      |
| Invesco Vaf V Investments, LLC                                                                  | Invesco Vaf V Investments, LLC/Delayed Draw Term Loan 07/23                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1666667 | PA      | $1666666.67    | 0.03%             | 2028-07-10      | Floating      | 14.50%                | No            |                  3 | On Loan: No      |
| People Corporation                                                                              | People Corporation/Initial Term Loan 02/21                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    8606644 | PA      | $6186933.92    | 0.13%             | 2031-02-18      | Floating      | 7.57%                 | No            |                  3 | On Loan: No      |
| Guidepoint Security Holdings, LLC                                                               | Guidepoint Security Holdings, LLC/Term A Loan 12/24                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     399247 | PA      | $399247.20     | 0.01%             | 2029-10-02      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| People Corporation                                                                              | People Corporation/Delayed Draw Term Loan 2/21                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    2816169 | PA      | $2024418.81    | 0.04%             | 2031-02-18      | Floating      | 7.57%                 | No            |                  3 | On Loan: No      |
| BCPE Empire Holdings, Inc.                                                                      | BCPE Empire Holdings, Inc./Amendment No. 10 Incremental Term Loan 03/26                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5077082 | PA      | $4991431.76    | 0.10%             | 2032-12-29      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| People Corporation                                                                              | People Corporation/Revolver 2/21                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    1927584 | PA      | $1385654.76    | 0.03%             | 2031-02-18      | Floating      | 7.58%                 | No            |                  3 | On Loan: No      |
| Airx Climate Solutions, Inc.                                                                    | Airx Climate Solutions, Inc./Term Loan 7/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2402161 | PA      | $2378139.26    | 0.05%             | 2029-11-07      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Airx Climate Solutions, Inc.                                                                    | Airx Climate Solutions, Inc./General Delayed Draw Term Loan 7/24                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2159772 | PA      | $2138174.48    | 0.04%             | 2029-11-07      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Airx Climate Solutions, Inc.                                                                    | Airx Climate Solutions, Inc./Powrmatic Delayed Draw Term Loan 7/24                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     489998 | PA      | $485098.34     | 0.01%             | 2029-11-07      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| DCert Buyer, Inc.                                                                               | DCert Buyer, Inc./Revolver 7/25                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     184752 | PA      | $181056.96     | 0.00%             | 2030-07-10      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| HBH Buyer, LLC                                                                                  | HBH Buyer, LLC/Initial Revolver Second Tranche 9/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     317042 | PA      | $317042.00     | 0.01%             | 2031-09-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| NCP-MSI Buyer, Inc.                                                                             | NCP-MSI Buyer, Inc./Second Amendment Delayed Draw Term Loan 11/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1042456 | PA      | $1042456.00    | 0.02%             | 2031-03-24      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Astra Service Partners, LLC                                                                     | Astra Service Partners, LLC/ Term Loan 11/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3207550 | PA      | $3175474.50    | 0.06%             | 2032-11-26      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Astra Service Partners, LLC                                                                     | Astra Service Partners, LLC/ Delayed Draw Term Loan 11/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1055115 | PA      | $1044563.85    | 0.02%             | 2032-11-26      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Databricks, Inc.                                                                                | Databricks, Inc./Delayed Draw Term Loan 12/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      16692 | PA      | $16691.51      | 0.00%             | 2031-01-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs, Inc./ Amendment No. 4  Delayed Draw Term Loan Commitment 12/25                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     423881 | PA      | $423881.00     | 0.01%             | 2028-11-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Daylight Beta Parent LLC                                                                        | Daylight Beta Parent LLC/Second Out Term Loan 9/23                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2272896 | PA      | $186883.84     | 0.00%             | 2033-09-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CFCo, LLC                                                                                       | CFCo, LLC/Third Out Term Loan 9/23                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3231333 | PA      | $0.00          | 0.00%             | 2038-09-13      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Precision Concepts Parent Inc.                                                                  | Precision Concepts Parent Inc./Initial Term Loan 7/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     492423 | PA      | $487498.63     | 0.01%             | 2032-08-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Precision Concepts Parent Inc.                                                                  | Precision Concepts Parent Inc./Initial Term Loan 7/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     225217 | PA      | $222964.38     | 0.00%             | 2032-08-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Precision Concepts Parent Inc.                                                                  | Precision Concepts Parent Inc./Delayed Draw Term Loan 7/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     243919 | PA      | $241479.49     | 0.00%             | 2032-08-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Precision Concepts Parent Inc.                                                                  | Precision Concepts Parent Inc./Revolver 7/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     183418 | PA      | $181583.82     | 0.00%             | 2032-08-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Granite France Bidco SAS                                                                        | Granite France Bidco SAS/EUR Term Loan B 07/22                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    4038735 | PA      | $3024849.53    | 0.06%             | 2028-10-17      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| Revival Animal Health, LLC                                                                      | Revival Animal Health, LLC/Delayed Draw Term Loan 1/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1464105 | PA      | $1376258.77    | 0.03%             | 2028-01-03      | Floating      | 9.69%                 | No            |                  3 | On Loan: No      |
| Revival Animal Health, LLC                                                                      | Revival Animal Health, LLC/Initial Term Loan 1/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3177108 | PA      | $2986481.52    | 0.06%             | 2028-01-03      | Floating      | 9.69%                 | No            |                  3 | On Loan: No      |
| Revival Animal Health, LLC                                                                      | Revival Animal Health, LLC/Revolver 1/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     306630 | PA      | $288232.20     | 0.01%             | 2028-01-03      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Computer Services, Inc.                                                                         | Computer Services, Inc./2025-2 Delayed Draw Term Loan 11/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     665041 | PA      | $651740.18     | 0.01%             | 2031-11-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Toscafund Limited                                                                               | Toscafund Limited/Term Loan Facility 04/19                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     700320 | PA      | $926937.74     | 0.02%             | 2026-04-02      | Floating      | 12.07%                | No            |                  3 | On Loan: No      |
| Help/Systems Holdings, Inc.                                                                     | Help/Systems Holdings, Inc./Term Loan (Extended First Lien) 11/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9798665 | PA      | $8418719.05    | 0.17%             | 2029-05-21      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| AX VI INV3 Holding AB                                                                           | AX VI INV3 Holding AB/Facility B 01/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |   34171781 | PA      | $3609701.48    | 0.07%             | 2031-08-13      | Floating      | 7.74%                 | No            |                  3 | On Loan: No      |
| Royal Borrower, LLC                                                                             | Royal Borrower, LLC/Initial Term Loan 7/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2376735 | PA      | $2376735.46    | 0.05%             | 2030-07-01      | Floating      | 9.43%                 | No            |                  3 | On Loan: No      |
| Oiva Isannointi Group Oy                                                                        | Oiva Isannointi Group Oy/Capex/Acquisition Facility 07/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FI        |     198020 | PA      | $228882.52     | 0.00%             | 2031-08-08      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Royal Borrower, LLC                                                                             | Royal Borrower, LLC/Delayed Draw Term Loan 7/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1345449 | PA      | $1345449.00    | 0.03%             | 2030-07-01      | Floating      | 9.43%                 | No            |                  3 | On Loan: No      |
| Oiva Isannointi Group Oy                                                                        | Oiva Isannointi Group Oy/Facility B 07/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FI        |     272277 | PA      | $314712.89     | 0.01%             | 2031-08-08      | Floating      | 8.00%                 | No            |                  3 | On Loan: No      |
| High Street Buyer, Inc.                                                                         | High Street Buyer, Inc./2021 Delayed Draw Term Loan 8/21                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8469740 | PA      | $8469739.98    | 0.17%             | 2028-04-14      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Harvey Tool Company, LLC                                                                        | Harvey Tool Company, LLC/EUR Term Loan 8/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     275509 | PA      | $318449.07     | 0.01%             | 2032-08-06      | Floating      | 6.64%                 | No            |                  3 | On Loan: No      |
| Seeker Bidco Ltd                                                                                | Seeker Bidco Ltd/ Facility B 10/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     329268 | PA      | $435816.39     | 0.01%             | 2032-11-17      | Floating      | 9.23%                 | No            |                  3 | On Loan: No      |
| PIPK 2025-18                                                                                    | PIPK 2025-18A E                                                                                                               | CUSIP: 720917AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1250000 | PA      | $1224708.75    | 0.02%             | 2038-04-20      | Floating      | 9.42%                 | Yes           |                  3 | On Loan: No      |
| Seeker Bidco Ltd                                                                                | Seeker Bidco Ltd/ Acquisition / Acquisition / Capex Facility 10/25                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     182927 | PA      | $242120.66     | 0.00%             | 2032-11-17      | Floating      | 9.23%                 | No            |                  3 | On Loan: No      |
| N/A                                                                                             | Eagle Football Hldgs Bidco Ltd                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      27592 | PA      | $27591.65      | 0.00%             | 2028-07-07      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| TPG IX Cardiff Debt HoldCo I, LLC                                                               | TPG IX Cardiff Debt HoldCo I, LLC/Back Leverage Term Loan 1/25                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4579097 | PA      | $4579096.88    | 0.09%             | 2033-01-03      | Floating      | 10.15%                | No            |                  3 | On Loan: No      |
| Vantage Data Centers Europe S.a r.l.                                                            | Vantage Data Centers Europe S.a r.l./Delayed Draw Term Loan 02/24                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    6530000 | PA      | $7547736.83    | 0.15%             | 2029-05-14      | Floating      | 8.64%                 | No            |                  3 | On Loan: No      |
| GC Waves Holdings, Inc.                                                                         | GC Waves Holdings, Inc./2025 Incremental Delayed Draw Term Loan 10/25                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     249968 | PA      | $249968.13     | 0.01%             | 2030-10-04      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| TSS Buyer, LLC                                                                                  | TSS Buyer, LLC/ Term Loan 3/26                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      21076 | PA      | $21076.00      | 0.00%             | 2029-06-22      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| PXLY 2024-1                                                                                     | PXLY 2024-1A E                                                                                                                | CUSIP: 72583VAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    6050000 | PA      | $5588735.90    | 0.11%             | 2037-01-15      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| PXLY 2024-1                                                                                     | PXLY 2024-1A SUB                                                                                                              | CUSIP: 72583VAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   40225152 | PA      | $19601837.25   | 0.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PXLY 2024-1                                                                                     | PXLY 2024-1A M                                                                                                                | CUSIP: 72583VAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   40225152 | PA      | $1609287.66    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aspris Bidco Limited                                                                            | Aspris Bidco Limited/Facility B GBP 08/21                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3234375 | PA      | $4280991.90    | 0.09%             | 2028-08-23      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| Aspris Bidco Limited                                                                            | Aspris Bidco Limited/Acquisition Facility GBP 08/21                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1406250 | PA      | $1861300.83    | 0.04%             | 2028-08-23      | Floating      | 10.10%                | No            |                  3 | On Loan: No      |
| Wealth Enhancement Group, LLC                                                                   | Wealth Enhancement Group, LLC/August 2021 Delayed Draw Term Loan 8/21                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2460612 | PA      | $2436005.99    | 0.05%             | 2028-10-04      | Floating      | 7.91%                 | No            |                  3 | On Loan: No      |
| HighTower Holding, LLC                                                                          | HighTower Holding, LLC/Amendment No. 10 Replacement Term Loan B 07/25                                                         | CUSIP: 43117LAP8<br>LEI: 254900MKOSB7RTMA9K12 | Long             | LON              | CORP              | US        |    6644703 | PA      | $6565830.29    | 0.13%             | 2032-02-03      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Aston Bidco (Holding) Limited                                                                   | Aston Bidco (Holding) Limited/ Unitranche Facility 07/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    2155076 | PA      | $2852440.70    | 0.06%             | 2032-07-30      | Floating      | 9.87%                 | No            |                  3 | On Loan: No      |
| Carrera Bidco Limited                                                                           | Carrera Bidco Limited/Facility B 11/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    5865381 | PA      | $6643942.60    | 0.13%             | 2032-11-29      | Floating      | 7.75%                 | No            |                  3 | On Loan: No      |
| Saldon Holdings, Inc.                                                                           | Saldon Holdings, Inc./First Amendment Term Loan 08/19                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     539731 | PA      | $539730.83     | 0.01%             | 2028-03-13      | Floating      | 9.02%                 | No            |                  3 | On Loan: No      |
| ACTFY Buyer, Inc.                                                                               | ACTFY Buyer, Inc./Term Loan 5/24                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1491161 | PA      | $1491160.55    | 0.03%             | 2031-05-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| ACTFY Buyer, Inc.                                                                               | ACTFY Buyer, Inc./Revolver 5/24                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     475930 | PA      | $475930.00     | 0.01%             | 2030-05-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ACTFY Buyer, Inc.                                                                               | ACTFY Buyer, Inc./Delayed Draw Term Loan 5/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     491082 | PA      | $491082.21     | 0.01%             | 2031-05-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Premise Health Holding Corp.                                                                    | Premise Health Holding Corp./Initial Term Loan 2/24                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2634306 | PA      | $2634305.51    | 0.05%             | 2032-11-08      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Premise Health Holding Corp.                                                                    | Premise Health Holding Corp./Revolver 2/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     551458 | PA      | $551458.00     | 0.01%             | 2031-11-06      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| LBM Acquisition LLC                                                                             | LBM Acquisition LLC/Term Loan B 05/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6474856 | PA      | $5162920.41    | 0.10%             | 2031-06-06      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| Premier Specialties, Inc.                                                                       | Premier Specialties, Inc./Initial Term Loan 8/21                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3090614 | PA      | $2781552.80    | 0.06%             | 2027-08-20      | Floating      | 10.77%                | No            |                  3 | On Loan: No      |
| Premier Specialties, Inc.                                                                       | Premier Specialties, Inc./Revolver 8/21                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     385433 | PA      | $346889.98     | 0.01%             | 2027-08-20      | Floating      | 10.77%                | No            |                  3 | On Loan: No      |
| Avalign Technologies, Inc.                                                                      | Avalign Technologies, Inc./Initial Term Loan 2/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1743682 | PA      | $1251265.92    | 0.03%             | 2028-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Avalign Technologies, Inc.                                                                      | Avalign Technologies, Inc./Revolver 2/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     249409 | PA      | $178975.90     | 0.00%             | 2028-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Proofpoint, Inc.                                                                                | Proofpoint, Inc./ USD 2L Term Loan 12/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2579562 | PA      | $2476379.52    | 0.05%             | 2033-12-08      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| Proofpoint, Inc.                                                                                | Proofpoint, Inc./ EUR 2L Term Loan 12/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2255981 | PA      | $2503284.66    | 0.05%             | 2033-12-08      | Floating      | 7.77%                 | No            |                  3 | On Loan: No      |
| Perigon Wealth Management, LLC                                                                  | Perigon Wealth Management, LLC/Delayed Draw Term Loan 8/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     272267 | PA      | $272267.48     | 0.01%             | 2031-03-28      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| HIG Finance 2 Limited                                                                           | HIG Finance 2 Limited/2025-2 Dollar Refinancing Term Loan 12/17                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3459967 | PA      | $3346341.95    | 0.07%             | 2031-02-15      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Businessolver.com, Inc.                                                                         | Businessolver.com, Inc./ Amendment No. 5 Initial Term Loan 12/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5680104 | PA      | $5623302.80    | 0.11%             | 2032-12-03      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Businessolver.com, Inc.                                                                         | Businessolver.com, Inc./ Amendment No. 5 Delayed Draw Term Loan 12/25                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     182430 | PA      | $180605.70     | 0.00%             | 2032-12-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Businessolver.com, Inc.                                                                         | Businessolver.com, Inc./ Revolver 12/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      84490 | PA      | $83645.10      | 0.00%             | 2032-12-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Victors Purchaser, LLC                                                                          | Victors Purchaser, LLC/Amendment No. 1 Incremental Term 12/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1374249 | PA      | $1360506.51    | 0.03%             | 2032-12-23      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| CHPPR Midco Inc.                                                                                | CHPPR Midco Inc./Refinanced Facility 06/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4009986 | PA      | $4003289.51    | 0.08%             | 2029-12-31      | Floating      | 12.75%                | No            |                  2 | On Loan: No      |
| Victors Purchaser, LLC                                                                          | Victors Purchaser, LLC/Amendment No. 1 Incremental Delayed Draw Term 12/25                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2423934 | PA      | $2399694.87    | 0.05%             | 2032-12-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Victors Purchaser, LLC                                                                          | Victors Purchaser, LLC/Amendment No.1 Refinancing TL 11/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   12831614 | PA      | $12703298.30   | 0.26%             | 2032-12-23      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| BCPE Pequod Buyer, Inc.                                                                         | BCPE Pequod Buyer, Inc./Revolver 11/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3003091 | PA      | $2912998.23    | 0.06%             | 2029-11-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| WSHP FC Acquisition LLC                                                                         | WSHP FC Acquisition LLC/First lien Term Loan 08/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   21509057 | PA      | $21509056.83   | 0.44%             | 2030-04-01      | Floating      | 11.70%                | No            |                  3 | On Loan: No      |
| WSHP FC Acquisition LLC                                                                         | WSHP FC Acquisition LLC/2nd Out Term Loan 8/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6677952 | PA      | $5609479.69    | 0.11%             | 2030-03-30      | Floating      | 12.00%                | No            |                  3 | On Loan: No      |
| ZocDoc, Inc.                                                                                    | ZocDoc, Inc./Term Loan 7/25                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $1000.00       | 0.00%             | 2030-07-31      | Floating      | 7.16%                 | No            |                  3 | On Loan: No      |
| ZocDoc, Inc.                                                                                    | ZocDoc, Inc./Delayed Draw Term Loan 7/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     535792 | PA      | $535792.00     | 0.01%             | 2030-07-31      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| Vertex Service Partners, LLC                                                                    | Vertex Service Partners, LLC/Delayed Draw Term Loan 10/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6028688 | PA      | $5472653.19    | 0.11%             | 2030-11-08      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| PumpTech, LLC                                                                                   | PumpTech, LLC/Delayed Draw Term Loan 1/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1454572 | PA      | $1396389.06    | 0.03%             | 2031-01-24      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| PumpTech, LLC                                                                                   | PumpTech, LLC/Revolver 1/25                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     454261 | PA      | $436090.56     | 0.01%             | 2031-01-24      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Edmunds GovTech, Inc.                                                                           | Edmunds GovTech, Inc./Initial Term Loan 2/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     329207 | PA      | $329206.70     | 0.01%             | 2031-02-26      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Two Six Labs, LLC                                                                               | Two Six Labs, LLC/Initial Term Loan 08/21                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7149425 | PA      | $7149425.13    | 0.15%             | 2027-08-20      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| PROSE 2024-3                                                                                    | PROSE 2024-3 M1                                                                                                               | CUSIP: 74167XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   25000000 | PA      | $25172467.50   | 0.51%             | 2054-10-30      | Fixed         | 8.85%                 | Yes           |                  3 | On Loan: No      |
| Primo Water Holdings Inc / Triton Water Holdings Inc                                            | PRMWCN 6.25% Sr Unsecured Nts due 2029 144A                                                                                   | CUSIP: 74168RAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $100154.99     | 0.00%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Two Six Labs, LLC                                                                               | Two Six Labs, LLC/Delayed Draw Term Loan 08/21                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2802913 | PA      | $2802913.05    | 0.06%             | 2027-08-20      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Two Six Labs, LLC                                                                               | Two Six Labs, LLC/Revolving Credit Loan 08/21                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2560976 | PA      | $2560975.61    | 0.05%             | 2027-08-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Evolent Health LLC                                                                              | Evolent Health LLC/Second Lien B Term Loan 8/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      64000 | PA      | $64000.00      | 0.00%             | 2029-12-06      | Floating      | 9.81%                 | No            |                  3 | On Loan: No      |
| Phoenix Operating LLC                                                                           | Phoenix Operating LLC/Tranche E Loan 8/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     439220 | PA      | $439220.00     | 0.01%             | 2028-10-27      | Floating      | 10.80%                | No            |                  3 | On Loan: No      |
| Phoenix Operating LLC                                                                           | Phoenix Operating LLC/Tranche F Loan 8/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      16471 | PA      | $0.00          | 0.00%             | 2028-10-27      | Floating      | 10.80%                | No            |                  3 | On Loan: No      |
| Registrar Intermediate, LLC                                                                     | Registrar Intermediate, LLC/Initial Term Loan 8/21                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4121794 | PA      | $4039358.45    | 0.08%             | 2029-08-27      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Registrar Intermediate, LLC                                                                     | Registrar Intermediate, LLC/Revolver 8/21                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     781891 | PA      | $766253.31     | 0.02%             | 2029-08-27      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| MWG BidCo ApS                                                                                   | MWG BidCo ApS/Facility A 08/21                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |   20065789 | PA      | $3041587.77    | 0.06%             | 2028-02-29      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| MWG BidCo ApS                                                                                   | MWG BidCo ApS/Facility B 08/21                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |    4934211 | PA      | $747931.51     | 0.02%             | 2028-02-29      | Floating      | 9.12%                 | No            |                  3 | On Loan: No      |
| Premise Health Holding Corp.                                                                    | Premise Health Holding Corp./ Amendment No. 1 Term Loan 11/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1335810 | PA      | $1335810.11    | 0.03%             | 2032-11-08      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Sugar PPC Buyer LLC                                                                             | Sugar PPC Buyer LLC/Initial Term Loan 10/23                                                                                   | CUSIP: 86489LAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    2110918 | PA      | $2110917.97    | 0.04%             | 2031-10-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Sugar PPC Buyer LLC                                                                             | Sugar PPC Buyer LLC/Delayed Draw Term Loan 10/23                                                                              | CUSIP: 86489LAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     586366 | PA      | $586365.82     | 0.01%             | 2031-10-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| GreatBear Bidco Limited                                                                         | GreatBear Bidco Limited/Acquisition/Capex Facility 2 08/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |     500465 | PA      | $662411.32     | 0.01%             | 2031-01-18      | Floating      | 8.99%                 | No            |                  3 | On Loan: No      |
| Two Six Labs, LLC                                                                               | Two Six Labs, LLC/2023 Term Loan 9/23                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1311200 | PA      | $1311199.95    | 0.03%             | 2027-08-20      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Pushpay USA Inc.                                                                                | Pushpay USA Inc./Term Loan 08/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2992481 | PA      | $2902706.68    | 0.06%             | 2031-08-15      | Floating      | 7.45%                 | No            |                  3 | On Loan: No      |
| Apex Service Partners, LLC                                                                      | Apex Service Partners, LLC/Replacement DDTL 9/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5678979 | PA      | $5678978.88    | 0.12%             | 2030-10-24      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Unity Purchaser, LLC                                                                            | Unity Purchaser, LLC/Closing Date Term Loan 1/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1242256 | PA      | $1242255.67    | 0.03%             | 2031-01-27      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Unity Purchaser, LLC                                                                            | Unity Purchaser, LLC/Delayed Draw Term Loan A 1/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1455399 | PA      | $1455399.00    | 0.03%             | 2031-01-27      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Unity Purchaser, LLC                                                                            | Unity Purchaser, LLC/Delayed Draw Term Loan B 1/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     577794 | PA      | $577793.80     | 0.01%             | 2031-01-27      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Telle Tire & Auto Service, LLC                                                                  | Telle Tire & Auto Service, LLC/Second Amendment Incremental DDTL 7/25                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     249765 | PA      | $249765.33     | 0.01%             | 2031-03-03      | Floating      | 8.44%                 | No            |                  3 | On Loan: No      |
| TCP Hawker Intermediate LLC                                                                     | TCP Hawker Intermediate LLC/Seventh Amendment Delayed Draw Term Loan 10/23                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     301118 | PA      | $295095.68     | 0.01%             | 2029-08-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| RRAM 2021-17                                                                                    | RRAM 2021-17A SUB                                                                                                             | CUSIP: 74980YAC8<br>LEI: 549300H1BYT42IUZDL59 | Long             | ABS-O            | CORP              | KY        |    1000000 | PA      | $250528.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RRAM 2024-31                                                                                    | RRAM 2024-31A SUB                                                                                                             | CUSIP: 74988BAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    6230000 | PA      | $4347431.06    | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RRAM 2025-38                                                                                    | RRAM 2025-38A SUB                                                                                                             | CUSIP: 74988GAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    2240000 | PA      | $1547875.84    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RRAM 2023-26                                                                                    | RRAM 2023-26A SUB                                                                                                             | CUSIP: 74989RAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   14482501 | PA      | $8368727.69    | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AI Titan Parent, Inc.                                                                           | AI Titan Parent, Inc./Delayed Draw Term Loan 8/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1789184 | PA      | $1771292.16    | 0.04%             | 2031-08-29      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Switch BBF, LLC                                                                                 | Switch BBF, LLC/ Term Loan 1/25 (Citizens Last Out Participation)                                                             | CUSIP: 87104RAB8<br>LEI: 984500FCEC5C1FC7F698 | Long             | LON              | CORP              | US        |    1341585 | PA      | $1341584.63    | 0.03%             | 2027-08-30      | Floating      | 10.84%                | No            |                  3 | On Loan: No      |
| Wand Newco 3, Inc.                                                                              | Wand Newco 3, Inc./Term Loan B 01/25                                                                                          | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |   20024339 | PA      | $19836711.41   | 0.40%             | 2031-01-30      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Gotham Greens Holdings, PBC                                                                     | Gotham Greens Holdings, PBC/2L Term Loan 11/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1347215 | PA      | $1239438.19    | 0.03%             | 2029-02-06      | Floating      | 15.00%                | No            |                  3 | On Loan: No      |
| Pike Corporation                                                                                | Pike Corporation/ Closing Date Term Loan 12/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   63285479 | PA      | $62652624.21   | 1.27%             | 2032-12-20      | Floating      | 8.18%                 | No            |                  3 | On Loan: No      |
| Flexential Topco Corporation                                                                    | Flexential Topco Corporation/Revolving Facility 08/22                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3000000 | PA      | $3000000.00    | 0.06%             | 2027-08-25      | Floating      | 12.00%                | No            |                  3 | On Loan: No      |
| Guidepoint Security Holdings, LLC                                                               | Guidepoint Security Holdings, LLC/Revolver 10/23                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     250841 | PA      | $250841.00     | 0.01%             | 2029-10-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Apex Service Partners, LLC                                                                      | Apex Service Partners, LLC/First Amendment Incremental DDTL 9/24                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6144263 | PA      | $6144262.93    | 0.12%             | 2030-10-24      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Apex Service Partners, LLC                                                                      | Apex Service Partners, LLC/Replacement Term Loan 9/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   23800272 | PA      | $23800271.64   | 0.48%             | 2030-10-24      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Apex Service Partners, LLC                                                                      | Apex Service Partners, LLC/Replacement Revolver 9/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2131354 | PA      | $2131354.00    | 0.04%             | 2029-10-24      | Floating      | 8.69%                 | No            |                  3 | On Loan: No      |
| RealPage, Inc.                                                                                  | RealPage, Inc./Initial Term Loan 02/21                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   11488684 | PA      | $10987317.68   | 0.22%             | 2028-04-24      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| ID.me, LLC                                                                                      | ID.me, LLC/Term Loan 1/25                                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   19415963 | PA      | $18251005.61   | 0.37%             | 2031-01-22      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| ID.me, LLC                                                                                      | ID.me, LLC/Delayed Draw Term Loan 1/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4662435 | PA      | $4662434.97    | 0.09%             | 2031-01-22      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| ID.me, LLC                                                                                      | ID.me, LLC/Revolver 1/25                                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2308646 | PA      | $2308646.00    | 0.05%             | 2031-01-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Edition Holdings, Inc.                                                                          | Edition Holdings, Inc./Revolver 12/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     192087 | PA      | $188245.26     | 0.00%             | 2032-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| PestCo, LLC                                                                                     | PestCo, LLC/Delayed Draw Term Loan 8/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      41947 | PA      | $41947.00      | 0.00%             | 2030-08-06      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Symplr Software Inc.                                                                            | Symplr Software Inc./2L Term Loan 2/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5911437 | PA      | $4433577.69    | 0.09%             | 2028-12-22      | Floating      | 13.77%                | No            |                  3 | On Loan: No      |
| PestCo, LLC                                                                                     | PestCo, LLC/Term Loan 8/25                                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     190798 | PA      | $190797.81     | 0.00%             | 2030-08-06      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Eagle Football Holdings BidCo Limited                                                           | Eagle Football Holdings BidCo Limited/ Tranche 1 Delayed Draw Term Loan 3/26                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      15252 | PA      | $15252.32      | 0.00%             | 2026-12-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Internet Truckstop Group LLC                                                                    | Internet Truckstop Group LLC/Revolving Credit Loan 6/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     302102 | PA      | $302102.00     | 0.01%             | 2027-04-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Computer Services, Inc.                                                                         | Computer Services, Inc./2025 Term Loan 11/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5954374 | PA      | $5835286.29    | 0.12%             | 2031-11-17      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Scooby Bidco Limited                                                                            | Scooby Bidco Limited/PIK Acquisition Facility A2 10/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1914911 | PA      | $2534560.49    | 0.05%             | 2032-09-03      | Floating      | 14.00%                | No            |                  3 | On Loan: No      |
| Wellington-Altus Financial Inc.                                                                 | Wellington-Altus Financial Inc./Revolver 8/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     458333 | PA      | $329475.24     | 0.01%             | 2030-08-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CST Holding Company                                                                             | CST Holding Company/Amendment No. 2 Incremental Term Loan 7/24                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      10259 | PA      | $10258.76      | 0.00%             | 2028-11-01      | Floating      | 8.77%                 | No            |                  3 | On Loan: No      |
| Priority Waste Holdings LLC                                                                     | Priority Waste Holdings LLC/DDTL A 8/23                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1248800 | PA      | $1148895.85    | 0.02%             | 2029-08-20      | Floating      | 11.66%                | No            |                  3 | On Loan: No      |
| 3 Step Sports LLC                                                                               | 3 Step Sports LLC/Initial Term Loan 10/23                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1950220 | PA      | $1950220.48    | 0.04%             | 2029-10-02      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| 3 Step Sports LLC                                                                               | 3 Step Sports LLC/Delayed Draw Term Loan 10/2023                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1719696 | PA      | $1719696.34    | 0.03%             | 2029-10-02      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| 3 Step Sports LLC                                                                               | 3 Step Sports LLC/Revolver 10/23                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     123730 | PA      | $123730.00     | 0.00%             | 2028-10-02      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| GMF Parent, Inc.                                                                                | GMF Parent, Inc./Term A Loan 12/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1757255 | PA      | $1739682.45    | 0.04%             | 2032-12-20      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| GMF Parent, Inc.                                                                                | GMF Parent, Inc./Revolver 12/25                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     365804 | PA      | $362145.96     | 0.01%             | 2032-12-20      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| GMF Parent, Inc.                                                                                | GMF Parent, Inc./Delayed Draw Term Loan A 12/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     495002 | PA      | $490051.98     | 0.01%             | 2032-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| GMF Parent, Inc.                                                                                | GMF Parent, Inc./Delayed Draw Term Loan B 12/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     445501 | PA      | $441045.99     | 0.01%             | 2032-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Meyer Laboratory, LLC                                                                           | Meyer Laboratory, LLC/Initial Term Loan 2/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     661285 | PA      | $628221.14     | 0.01%             | 2030-02-28      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| Meyer Laboratory, LLC                                                                           | Meyer Laboratory, LLC/Delayed Draw Term Loan 2/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     117965 | PA      | $112067.16     | 0.00%             | 2030-02-28      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| Meyer Laboratory, LLC                                                                           | Meyer Laboratory, LLC/Revolver 2/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     191617 | PA      | $182036.11     | 0.00%             | 2030-02-28      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| HIG OPERATIONS HOLDINGS, INC.                                                                   | HIG OPERATIONS HOLDINGS, INC./Amendment No. 6 Initial Term Loan 12/25                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1043693 | PA      | $1043693.09    | 0.02%             | 2031-06-11      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| HIG OPERATIONS HOLDINGS, INC.                                                                   | HIG OPERATIONS HOLDINGS, INC./Amendment No. 6 Tranche B Delayed Draw Term Loan 12/25                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     355711 | PA      | $355710.85     | 0.01%             | 2031-06-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Color Intermediate, LLC                                                                         | Color Intermediate, LLC/Incremental Term B-1 Loan 6/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1813204 | PA      | $1813204.29    | 0.04%             | 2029-10-04      | Floating      | 8.55%                 | No            |                  3 | On Loan: No      |
| Nexus Buyer LLC                                                                                 | Nexus Buyer LLC/Amendment No. 3 Incremental 2L TL 8/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2287930 | PA      | $2207028.80    | 0.04%             | 2032-02-16      | Floating      | 9.42%                 | No            |                  2 | On Loan: No      |
| Visual Edge Technology, Inc.                                                                    | Visual Edge Technology, Inc./Delayed Draw Term Loan 7/23                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      19722 | PA      | $19722.50      | 0.00%             | 2029-01-02      | Floating      | 15.85%                | No            |                  3 | On Loan: No      |
| Gestion ABS Bidco Inc./ABS Bidco Holdings Inc.                                                  | Gestion ABS Bidco Inc./ABS Bidco Holdings Inc./Initial Term Loan 2/24                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     641087 | PA      | $460848.70     | 0.01%             | 2031-03-03      | Floating      | 7.31%                 | No            |                  3 | On Loan: No      |
| Gestion ABS Bidco Inc./ABS Bidco Holdings Inc.                                                  | Gestion ABS Bidco Inc./ABS Bidco Holdings Inc./Delayed Draw Term Loan 2/24                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     322863 | PA      | $232091.55     | 0.00%             | 2031-03-03      | Floating      | 7.30%                 | No            |                  3 | On Loan: No      |
| Gestion ABS Bidco Inc./ABS Bidco Holdings Inc.                                                  | Gestion ABS Bidco Inc./ABS Bidco Holdings Inc./Revolver 2/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |      98938 | PA      | $71122.13      | 0.00%             | 2031-03-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Osmosis Buyer Limited                                                                           | Osmosis Buyer Limited/Term Loan 01/26                                                                                         | CUSIP: 00132UAQ7<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |   31332431 | PA      | $31239373.72   | 0.63%             | 2028-07-31      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| ACP Avenu Buyer, LLC                                                                            | ACP Avenu Buyer, LLC/Revolving Loan 10/23                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1056703 | PA      | $1056703.00    | 0.02%             | 2029-10-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ExtraHop Networks, Inc.                                                                         | ExtraHop Networks, Inc./2024 Revolving Credit 03/2024                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     420072 | PA      | $415871.28     | 0.01%             | 2027-07-22      | Floating      | 10.27%                | No            |                  3 | On Loan: No      |
| Magellan Bidco                                                                                  | Magellan Bidco/Initial Tranche Commitment 10/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |     833333 | PA      | $963212.58     | 0.02%             | 2031-10-31      | Floating      | 8.38%                 | No            |                  3 | On Loan: No      |
| Magellan Bidco                                                                                  | Magellan Bidco/Additional Tranche Commitment 10/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |     166667 | PA      | $192642.98     | 0.00%             | 2031-10-31      | Floating      | 8.38%                 | No            |                  3 | On Loan: No      |
| Activate holdings (US) Corp.                                                                    | Activate holdings (US) Corp./Initial Term Loan 07/23                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   10775380 | PA      | $10775380.32   | 0.22%             | 2030-07-29      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| WSBidCo Limited                                                                                 | WSBidCo Limited/CAF 3 Facility 01/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    3419593 | PA      | $4526144.91    | 0.09%             | 2028-06-16      | Floating      | 10.36%                | No            |                  3 | On Loan: No      |
| Activate holdings (US) Corp.                                                                    | Activate holdings (US) Corp./Revolving Loan 07/23                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     579230 | PA      | $579230.00     | 0.01%             | 2029-07-27      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Silk Holdings III LLC                                                                           | Silk Holdings III LLC/Revolver 12/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     350963 | PA      | $347453.37     | 0.01%             | 2032-12-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Silk Holdings III LLC                                                                           | Silk Holdings III LLC/Term Loan 12/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6391366 | PA      | $6327452.81    | 0.13%             | 2032-12-03      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| SGM Acquisition Sub, LLC                                                                        | SGM Acquisition Sub, LLC/2025 Unitranche Term Loan 12/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2157811 | PA      | $2136232.89    | 0.04%             | 2031-12-15      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| SGM Acquisition Sub, LLC                                                                        | SGM Acquisition Sub, LLC/2025 Delayed Draw Term Loan 12/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1501086 | PA      | $1493580.57    | 0.03%             | 2031-12-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SGM Acquisition Sub, LLC                                                                        | SGM Acquisition Sub, LLC/2025 Revolver 12/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     529208 | PA      | $523915.92     | 0.01%             | 2031-12-15      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Livewire Acquisition, Inc.                                                                      | Livewire Acquisition, Inc./Initial Delayed Draw Term Loan 12/25                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     754651 | PA      | $750877.75     | 0.02%             | 2032-12-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CoreRx, Inc.                                                                                    | CoreRx, Inc./ Closing Date Term Loan 12/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     349513 | PA      | $342522.74     | 0.01%             | 2030-12-17      | Floating      | 10.95%                | No            |                  3 | On Loan: No      |
| CoreRx, Inc.                                                                                    | CoreRx, Inc./ Revolver 12/25                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $980.00        | 0.00%             | 2030-12-17      | Floating      | 7.70%                 | No            |                  3 | On Loan: No      |
| Visual Edge Technology, Inc.                                                                    | Visual Edge Technology, Inc./Last Out  Term Loan B 7/23                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2240395 | PA      | $2240394.64    | 0.05%             | 2029-01-02      | Floating      | 10.85%                | No            |                  3 | On Loan: No      |
| ASPIRE BIDCO LIMITED                                                                            | ASPIRE BIDCO LIMITED/Facility B1 GBP 09/21                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    3558824 | PA      | $4710429.90    | 0.10%             | 2028-09-04      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| ASPIRE BIDCO LIMITED                                                                            | ASPIRE BIDCO LIMITED/Acquisition Facility A1 GBP 09/21                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    1941176 | PA      | $2569324.44    | 0.05%             | 2028-09-04      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| Archduke Buyer, Inc.                                                                            | Archduke Buyer, Inc./ Term Loan 12/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4499174 | PA      | $4454182.26    | 0.09%             | 2032-12-03      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Archduke Buyer, Inc.                                                                            | Archduke Buyer, Inc./ Revolver 12/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     350910 | PA      | $347400.90     | 0.01%             | 2032-12-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Sapphire Software Buyer, Inc.                                                                   | Sapphire Software Buyer, Inc./Initial Term Loan 9/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   10324546 | PA      | $10118054.92   | 0.21%             | 2031-09-30      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Sapphire Software Buyer, Inc.                                                                   | Sapphire Software Buyer, Inc./Revolver 9/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1490807 | PA      | $1460990.86    | 0.03%             | 2031-09-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Aduro Advisors, LLC                                                                             | Aduro Advisors, LLC/Original Term Loan 7/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2477931 | PA      | $2477931.01    | 0.05%             | 2030-07-11      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Aduro Advisors, LLC                                                                             | Aduro Advisors, LLC/Original Delayed Draw Term Loan 7/24                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1006266 | PA      | $1006266.00    | 0.02%             | 2030-07-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Aduro Advisors, LLC                                                                             | Aduro Advisors, LLC/Revolver 7/24                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     596863 | PA      | $596863.00     | 0.01%             | 2030-07-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Addsecure Group Services AB                                                                     | Addsecure Group Services AB/Acquisition Facility A 03/26                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    5370027 | PA      | $567257.37     | 0.01%             | 2033-03-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Pike Corporation                                                                                | Pike Corporation/ Revolver 12/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9171809 | PA      | $9080090.91    | 0.18%             | 2032-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Witherslack Bidco Limited                                                                       | Witherslack Bidco Limited/CAPEX Tranche Commitment 12/24                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2641554 | PA      | $3496338.95    | 0.07%             | 2028-08-17      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| HIG OPERATIONS HOLDINGS, INC.                                                                   | HIG OPERATIONS HOLDINGS, INC./Amendment No. 6 Tranche A Delayed Draw Term Loan 12/25                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     168513 | PA      | $168512.69     | 0.00%             | 2031-06-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| IVC Acquisition Ltd                                                                             | IVC Acquisition Ltd/EUR Term Loan B 01/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    6022236 | PA      | $6908002.55    | 0.14%             | 2028-12-12      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| Registrar Intermediate, LLC                                                                     | Registrar Intermediate, LLC/Second Amendment Delayed Draw Term Loan B 3/25                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     279244 | PA      | $273659.12     | 0.01%             | 2029-08-27      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Equinox Holdings, Inc.                                                                          | Equinox Holdings, Inc./Initial Term Loan 3/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   44921894 | PA      | $44921893.56   | 0.91%             | 2029-03-08      | Floating      | 10.95%                | No            |                  3 | On Loan: No      |
| Equinox Holdings, Inc.                                                                          | Equinox Holdings, Inc./2L Term Loan 3/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4449588 | PA      | $4449588.30    | 0.09%             | 2027-06-30      | Floating      | 16.00%                | No            |                  3 | On Loan: No      |
| DFC Global Facility Borrower III LLC                                                            | DFC Global Facility Borrower III LLC/Revolving Credit (SPL) 01/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6389402 | PA      | $4593057.32    | 0.09%             | 2028-01-14      | Floating      | 12.42%                | No            |                  3 | On Loan: No      |
| Flexera Software LLC                                                                            | Flexera Software LLC/Revolver 8/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      14842 | PA      | $14545.16      | 0.00%             | 2032-08-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Cloud Software Group, Inc.                                                                      | Cloud Software Group, Inc./Tenth Amendment Tranche B-2 Term Loan 09/22                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   27330184 | PA      | $24952457.90   | 0.51%             | 2031-03-21      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                                                      | Cloud Software Group, Inc./Term Loan B 08/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   35928191 | PA      | $32765072.66   | 0.67%             | 2032-08-13      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| Truck-Lite Co., LLC and Ecco Holdings Corp.                                                     | Truck-Lite Co., LLC and Ecco Holdings Corp./2025 Incremental Term Loan 6/25                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     196120 | PA      | $196119.99     | 0.00%             | 2032-02-13      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Diligent Corporation                                                                            | Diligent Corporation/Delayed Draw Term Loan 4/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     926056 | PA      | $898274.32     | 0.02%             | 2030-08-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Mavis Tire Express Services Topco, Corp.                                                        | Mavis Tire Express Services Topco, Corp./Term Loan 01/25                                                                      | CUSIP: 57777YAG1<br>LEI: 254900NVDM4GTLBL9E56 | Long             | LON              | CORP              | US        |    5858336 | PA      | $5848845.90    | 0.12%             | 2028-05-04      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| RRAM 2022-21                                                                                    | RRAM 2022-21A SUB                                                                                                             | CUSIP: 78090GAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |   13070000 | PA      | $5950156.71    | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RRAM 2024-30                                                                                    | RRAM 2024-30A SUB                                                                                                             | CUSIP: 780933AC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |    6000000 | PA      | $4177350.00    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Truck-Lite Co., LLC and Ecco Holdings Corp.                                                     | Truck-Lite Co., LLC and Ecco Holdings Corp./Delayed Draw Term Loan C 6/25                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     940963 | PA      | $940963.00     | 0.02%             | 2032-02-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| RRAM 2024-33                                                                                    | RRAM 2024-33A SUB                                                                                                             | CUSIP: 78110RAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |    3850000 | PA      | $2725726.85    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RRAM 2023-27                                                                                    | RRAM 2023-27A SUB                                                                                                             | CUSIP: 78110WAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |    3160000 | PA      | $2383654.36    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Mimecast Borrowerco, Inc.                                                                       | Mimecast Borrowerco, Inc./Amendment No. 2 Delayed Draw Term Loan 3/24                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     416584 | PA      | $412418.24     | 0.01%             | 2029-05-18      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| EC Partners Spanish Bidco, S.L.U.                                                               | EC Partners Spanish Bidco, S.L.U./Facility B1 01/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |     252067 | PA      | $291352.88     | 0.01%             | 2032-01-30      | Floating      | 7.78%                 | No            |                  3 | On Loan: No      |
| EC Partners Spanish Bidco, S.L.U.                                                               | EC Partners Spanish Bidco, S.L.U./Facility B2 01/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |     177562 | PA      | $205236.42     | 0.00%             | 2032-01-30      | Floating      | 7.78%                 | No            |                  3 | On Loan: No      |
| Waystar Technologies, Inc.                                                                      | Waystar Technologies, Inc./Add-on TLB 08/25                                                                                   | CUSIP: 63939WAN3<br>LEI: 549300BIRBTAWWHCSZ09 | Long             | LON              | CORP              | US        |    4685060 | PA      | $4667491.01    | 0.09%             | 2029-10-22      | Floating      | 5.67%                 | No            |                  3 | On Loan: No      |
| EC Partners Spanish Bidco, S.L.U.                                                               | EC Partners Spanish Bidco, S.L.U./Acquisition Facility 01/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |     555556 | PA      | $642142.49     | 0.01%             | 2032-01-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| People Corporation                                                                              | People Corporation/Delayed Draw 2 Term Loan 9/21                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    7644855 | PA      | $5495546.37    | 0.11%             | 2031-02-18      | Floating      | 7.57%                 | No            |                  3 | On Loan: No      |
| Einstein Parent, Inc.                                                                           | Einstein Parent, Inc./Term Loan 1/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5031242 | PA      | $4930617.16    | 0.10%             | 2031-01-22      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Einstein Parent, Inc.                                                                           | Einstein Parent, Inc./Revolver 1/25                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     537445 | PA      | $526696.10     | 0.01%             | 2031-01-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| High Street Buyer, Inc.                                                                         | High Street Buyer, Inc./2024 Delayed Draw Term Loan 3/24                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1978199 | PA      | $1978198.91    | 0.04%             | 2028-04-14      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Orange Barrel Media, LLC                                                                        | Orange Barrel Media, LLC/IKE Smart City, LLC/Delayed Draw Term Loan 3/24                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6536000 | PA      | $6536000.00    | 0.13%             | 2027-10-25      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Orange Barrel Media, LLC                                                                        | Orange Barrel Media, LLC/IKE Smart City, LLC/Term Loan 3/24                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4784000 | PA      | $4784000.00    | 0.10%             | 2027-03-17      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Orange Barrel Media, LLC                                                                        | Orange Barrel Media, LLC/IKE Smart City, LLC/IKE Smart City, LLC/Revolver 3/24                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2080000 | PA      | $2080000.00    | 0.04%             | 2027-03-17      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| SQ ABS Issuer, LLC                                                                              | SQ ABS Issuer, LLC/Class A Asset-Backed Note 10/24                                                                            | CUSIP: 78474QAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     636086 | PA      | $636085.93     | 0.01%             | 2039-10-20      | Fixed         | 7.80%                 | No            |                  3 | On Loan: No      |
| SQ ABS Issuer, LLC                                                                              | SQ ABS Issuer, LLC/Class B Asset-Backed Note 10/24                                                                            | CUSIP: 78474QAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     424057 | PA      | $424057.06     | 0.01%             | 2039-10-20      | Fixed         | 9.65%                 | No            |                  3 | On Loan: No      |
| Databricks, Inc.                                                                                | Databricks, Inc./1st Amendment Delayed TL 12/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2452809 | PA      | $2452809.07    | 0.05%             | 2032-01-05      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Truist Insurance Holdings, LLC                                                                  | Truist Insurance Holdings, LLC/Revolver 3/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     653762 | PA      | $640686.76     | 0.01%             | 2029-05-06      | Floating      | 6.93%                 | No            |                  3 | On Loan: No      |
| Databricks, Inc.                                                                                | Databricks, Inc./2026 Term Loan 01/25                                                                                         | CUSIP: 23803RAE1<br>LEI: 984500FEDAC7FBD96273 | Long             | LON              | CORP              | US        |    4991647 | PA      | $4991647.42    | 0.10%             | 2032-01-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)                                            | Horizon Avionics Buyer, LLC (Horizon CTS Buyer, LLC)/Delayed Draw Term Loan 3/25                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1027586 | PA      | $1027585.60    | 0.02%             | 2032-03-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| 3 Step Sports LLC                                                                               | 3 Step Sports LLC/2025 Incremental Term Commitment 12/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     495805 | PA      | $495805.00     | 0.01%             | 2029-10-02      | Floating      | 10.19%                | No            |                  3 | On Loan: No      |
| DP Flores Holdings, LLC                                                                         | DP Flores Holdings, LLC/Closing Date Term Loan 9/24                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4003693 | PA      | $3963656.06    | 0.08%             | 2030-09-27      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| DP Flores Holdings, LLC                                                                         | DP Flores Holdings, LLC/Revolver 9/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     512617 | PA      | $507490.83     | 0.01%             | 2030-09-27      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| DP Flores Holdings, LLC                                                                         | DP Flores Holdings, LLC/Delayed Draw Term Loan 9/24                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1114966 | PA      | $1103816.34    | 0.02%             | 2030-09-27      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| GENERATOR US BUYER, INC.                                                                        | GENERATOR US BUYER, INC./Term A Term Loan 9/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     405578 | PA      | $405578.10     | 0.01%             | 2030-07-22      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Diligent Corporation                                                                            | Diligent Corporation/Revolver 4/24                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     669111 | PA      | $649037.67     | 0.01%             | 2030-08-02      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Quick Quack Car Wash Holdings, LLC                                                              | Quick Quack Car Wash Holdings, LLC/Delayed TL 08/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     350188 | PA      | $350187.79     | 0.01%             | 2031-06-10      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Sugar PPC Buyer LLC                                                                             | Sugar PPC Buyer LLC/Delayed Draw Term Loan 7/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1170520 | PA      | $1170519.58    | 0.02%             | 2031-10-02      | Floating      | 8.35%                 | No            |                  3 | On Loan: No      |
| Bluejack Fire Acquisition, Inc.                                                                 | Bluejack Fire Acquisition, Inc./Revolver 1/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     294195 | PA      | $294195.00     | 0.01%             | 2031-01-24      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Bluejack Fire Acquisition, Inc.                                                                 | Bluejack Fire Acquisition, Inc./Term Loan 1/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     984066 | PA      | $984065.74     | 0.02%             | 2031-01-24      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Bluejack Fire Acquisition, Inc.                                                                 | Bluejack Fire Acquisition, Inc./Delayed Draw Term Loan 1/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1416432 | PA      | $1416432.00    | 0.03%             | 2031-01-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Alcresta Therapeutics, Inc.                                                                     | Alcresta Therapeutics, Inc./ First Amendment Term Loan 12/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     466551 | PA      | $461885.49     | 0.01%             | 2031-03-12      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Alcresta Therapeutics, Inc.                                                                     | Alcresta Therapeutics, Inc./ Revolver 12/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      66799 | PA      | $66131.01      | 0.00%             | 2031-03-12      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| DFC Global Facility Borrower III LLC                                                            | DFC Global Facility Borrower III LLC/Revolving Credit (MPL) 01/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   33644766 | PA      | $24185727.55   | 0.49%             | 2028-01-14      | Floating      | 6.37%                 | No            |                  3 | On Loan: No      |
| Monica Holdco (US), Inc.                                                                        | Monica Holdco (US), Inc./Amendment No. 4 Incremental Term Loan 8/24                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2831414 | PA      | $2831413.76    | 0.06%             | 2030-07-12      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| KPS Global LLC                                                                                  | KPS Global LLC/Term Loan 9/24                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2063262 | PA      | $2063261.75    | 0.04%             | 2030-09-30      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| BW Holding, Inc.                                                                                | BW Holding, Inc./Tranche A Term Loan 08/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1725078 | PA      | $1705670.39    | 0.03%             | 2030-12-14      | Floating      | 10.14%                | No            |                  2 | On Loan: No      |
| BW Holding, Inc.                                                                                | BW Holding, Inc./Tranche B Term Loan 08/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6887002 | PA      | $3330347.52    | 0.07%             | 2030-12-14      | Floating      | 8.29%                 | No            |                  2 | On Loan: No      |
| GC Waves Holdings, Inc.                                                                         | GC Waves Holdings, Inc./2023 Replacing Revolver 7/23                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     173202 | PA      | $173202.00     | 0.00%             | 2030-10-04      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Premiere Buyer, LLC                                                                             | Premiere Buyer, LLC/Delayed Draw Term Loan 5/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     508757 | PA      | $508757.43     | 0.01%             | 2031-05-01      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Shur-Co Acquisition, Inc.                                                                       | Shur-Co Acquisition, Inc./Sixth Amendment Incremental Term Loan 7/24                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1521717 | PA      | $1521716.75    | 0.03%             | 2030-07-01      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| UP Intermediate II LLC                                                                          | UP Intermediate II LLC/Revolver 3/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     391843 | PA      | $391843.00     | 0.01%             | 2031-03-14      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Omnigo Software, LLC                                                                            | Omnigo Software, LLC/Delayed Draw Term Loan 12/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      42510 | PA      | $42084.90      | 0.00%             | 2030-12-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wealth Enhancement Group, LLC                                                                   | Wealth Enhancement Group, LLC/2020 Delayed Draw Term Loan 11/20                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2391324 | PA      | $2367410.86    | 0.05%             | 2028-10-04      | Floating      | 7.91%                 | No            |                  3 | On Loan: No      |
| Sun Acquirer Corp.                                                                              | Sun Acquirer Corp./Initial Term Loan 09/21                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   10452082 | PA      | $10347561.43   | 0.21%             | 2028-09-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Sun Acquirer Corp.                                                                              | Sun Acquirer Corp./Delayed Draw Term Loan 09/21                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7390453 | PA      | $7316548.46    | 0.15%             | 2028-09-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Sun Acquirer Corp.                                                                              | Sun Acquirer Corp./Revolving Loan 09/21                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1637812 | PA      | $1621433.39    | 0.03%             | 2027-09-06      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Sabseg Group, S.L.                                                                              | Sabseg Group, S.L./Third Acquisition/CAPEX Facility 01/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |   12457768 | PA      | $14399380.46   | 0.29%             | 2029-04-09      | Floating      | 8.56%                 | No            |                  3 | On Loan: No      |
| Artera Services, LLC                                                                            | Artera Services, LLC/First Lien Term Loan 01/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6442781 | PA      | $5476363.64    | 0.11%             | 2031-02-15      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Family First Bidco Limited                                                                      | Family First Bidco Limited/A1 Loan Notes 02/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |       1518 | PA      | $2009.78       | 0.00%             | 2029-12-31      | Floating      | 12.50%                | No            |                  3 | On Loan: No      |
| Unifi Aviation North America, LLC                                                               | Unifi Aviation North America, LLC/Aggregate Date DDTL 3/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     561746 | PA      | $561746.16     | 0.01%             | 2028-09-29      | Floating      | 9.07%                 | No            |                  3 | On Loan: No      |
| CGMS 2022-6                                                                                     | CGMS 2022-6A SUB                                                                                                              | CUSIP: 14317NAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     835889 | PA      | $553532.38     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC 2018-1                                                                                     | CIFC 2018-1A SUB                                                                                                              | CUSIP: 12547WAC8<br>LEI: 635400VBVF8AYJQBI411 | Long             | ABS-O            | CORP              | KY        |    3981857 | PA      | $1130337.71    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Truck-Lite Co., LLC and Ecco Holdings Corp.                                                     | Truck-Lite Co., LLC and Ecco Holdings Corp./Delayed Draw Term Loan B 6/25                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1893841 | PA      | $1893841.40    | 0.04%             | 2032-02-13      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| DCert Buyer, Inc.                                                                               | DCert Buyer, Inc./Incremental Term Loan 7/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1841343 | PA      | $1804516.25    | 0.04%             | 2030-07-10      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Bobtail AcquisitionCo, LLC                                                                      | Bobtail AcquisitionCo, LLC/Term Loan 8/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1095971 | PA      | $1095971.00    | 0.02%             | 2031-09-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Bobtail AcquisitionCo, LLC                                                                      | Bobtail AcquisitionCo, LLC/Delayed Draw  Term Loan 8/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     730647 | PA      | $730647.00     | 0.01%             | 2031-09-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Bobtail AcquisitionCo, LLC                                                                      | Bobtail AcquisitionCo, LLC/Revolver Loan 8/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     309362 | PA      | $309362.00     | 0.01%             | 2031-09-02      | Floating      | 8.44%                 | No            |                  3 | On Loan: No      |
| Lightbeam Bidco, Inc.                                                                           | Lightbeam Bidco, Inc./ Fifth Amendment Incremental Delayed Draw Term Loan 12/25                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     916447 | PA      | $916447.37     | 0.02%             | 2030-05-06      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Waverly Advisors, LLC                                                                           | Waverly Advisors, LLC/k/a WA Asset Management, LLC)/Delayed Draw Term Loan B 3/24                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3186041 | PA      | $3186041.43    | 0.06%             | 2028-03-01      | Floating      | 9.35%                 | No            |                  3 | On Loan: No      |
| Eternal Aus Bidco Pty Ltd                                                                       | Eternal Aus Bidco Pty Ltd/2025 Facility B 12/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | AU        |     913111 | PA      | $630000.95     | 0.01%             | 2029-10-29      | Floating      | 9.04%                 | No            |                  3 | On Loan: No      |
| Eternal Aus Bidco Pty Ltd                                                                       | Eternal Aus Bidco Pty Ltd/2025 Facility C 12/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | AU        |     180744 | PA      | $124704.31     | 0.00%             | 2029-10-29      | Floating      | 9.04%                 | No            |                  3 | On Loan: No      |
| Vamos Bidco, Inc.                                                                               | Vamos Bidco, Inc./Term Loan 1/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2586362 | PA      | $2560498.58    | 0.05%             | 2032-01-30      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Vamos Bidco, Inc.                                                                               | Vamos Bidco, Inc./Delayed Draw Term Loan 1/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1083057 | PA      | $1072226.43    | 0.02%             | 2032-01-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Vamos Bidco, Inc.                                                                               | Vamos Bidco, Inc./Revolver 1/25                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     333616 | PA      | $330279.84     | 0.01%             | 2032-01-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Silk Holdings III LLC                                                                           | Silk Holdings III LLC/Refinancing Term Loan 12/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5073208 | PA      | $5022475.60    | 0.10%             | 2032-12-03      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Empower Payments Investor, LLC                                                                  | Empower Payments Investor, LLC/Term Loan 3/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     468844 | PA      | $468844.07     | 0.01%             | 2031-03-12      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Empower Payments Investor, LLC                                                                  | Empower Payments Investor, LLC/Closing Date Revolving Facility 3/24                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      59693 | PA      | $59693.00      | 0.00%             | 2030-03-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Empower Payments Investor, LLC                                                                  | Empower Payments Investor, LLC/Delayed Draw Term Loan 3/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      67022 | PA      | $67021.54      | 0.00%             | 2031-03-12      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Fossil Group, Inc.                                                                              | Fossil Group, Inc./ABL Revolver 8/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     804850 | PA      | $804850.00     | 0.02%             | 2030-08-13      | Floating      | 8.93%                 | No            |                  3 | On Loan: No      |
| Maltese Bidco 1 Limited                                                                         | Maltese Bidco 1 Limited/Additional Facility 03/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1542857 | PA      | $2042112.72    | 0.04%             | 2029-02-14      | Floating      | 8.64%                 | No            |                  3 | On Loan: No      |
| Fitness Ventures Holdings, Inc.                                                                 | Fitness Ventures Holdings, Inc./Tranche A Revolver 8/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      70458 | PA      | $70458.00      | 0.00%             | 2030-08-01      | Floating      | 7.68%                 | No            |                  3 | On Loan: No      |
| Pathstone Family Office LLC                                                                     | Pathstone Family Office LLC/First Amendment Term Loan 9/23                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2552106 | PA      | $2552105.88    | 0.05%             | 2029-05-15      | Floating      | 8.27%                 | No            |                  3 | On Loan: No      |
| Delta Topco, Inc.                                                                               | Delta Topco, Inc./Term Loan B 01/25                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   11338695 | PA      | $10950684.79   | 0.22%             | 2029-11-30      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Fitness Ventures Holdings, Inc.                                                                 | Fitness Ventures Holdings, Inc./Tranche B Revolver 8/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      70458 | PA      | $70458.00      | 0.00%             | 2030-08-01      | Floating      | 7.68%                 | No            |                  3 | On Loan: No      |
| Fitness Ventures Holdings, Inc.                                                                 | Fitness Ventures Holdings, Inc./Delayed Draw Term Loan 8/24                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1261390 | PA      | $1261389.89    | 0.03%             | 2031-08-01      | Floating      | 8.68%                 | No            |                  3 | On Loan: No      |
| Innovative Food Supplements Ltd                                                                 | Innovative Food Supplements Ltd/ Unitranche Facility (GBP) 08/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3617647 | PA      | $4788287.54    | 0.10%             | 2032-09-09      | Floating      | 9.54%                 | No            |                  3 | On Loan: No      |
| Innovative Food Supplements Ltd                                                                 | Innovative Food Supplements Ltd/ CAR Facility 08/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     882353 | PA      | $1167875.11    | 0.02%             | 2032-09-09      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CVP Holdco, Inc.                                                                                | CVP Holdco, Inc./Delayed Draw Term Loan 6/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5232788 | PA      | $5232788.00    | 0.11%             | 2031-06-30      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Healthco Investment Ltd                                                                         | Healthco Investment Ltd/ CAR Facility 08/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     641667 | PA      | $849305.11     | 0.02%             | 2032-09-09      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Healthco Investment Ltd                                                                         | Healthco Investment Ltd/ Unitranche Facility (GBP) 08/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     641667 | PA      | $849304.58     | 0.02%             | 2032-09-09      | Floating      | 9.48%                 | No            |                  3 | On Loan: No      |
| Proofpoint, Inc.                                                                                | Proofpoint, Inc./2025 Specified Refinancing Dollar Revolving Credit 12/25                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     245625 | PA      | $238256.02     | 0.00%             | 2028-06-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Abingdon Global Acquisitions Limited                                                            | Abingdon Global Acquisitions Limited/ Acquisition Facility 11/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     290698 | PA      | $290698.00     | 0.01%             | 2031-12-09      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Abingdon Global Acquisitions Limited                                                            | Abingdon Global Acquisitions Limited/ Senior Term Facility 11/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     209302 | PA      | $209302.00     | 0.00%             | 2031-12-09      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| LeanTaaS Holdings, Inc.                                                                         | LeanTaaS Holdings, Inc./Tranche C Delayed Draw Term Loan 7/24                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2403252 | PA      | $2355186.96    | 0.05%             | 2028-07-12      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Flexera Software LLC                                                                            | Flexera Software LLC/Initial EUR Term Loan 8/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      57421 | PA      | $65042.97      | 0.00%             | 2032-08-16      | Floating      | 6.45%                 | No            |                  3 | On Loan: No      |
| SERV 2020-1                                                                                     | SERV 2020-1 A2II                                                                                                              | CUSIP: 81761TAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      23448 | PA      | $20825.60      | 0.00%             | 2051-01-30      | Fixed         | 3.34%                 | Yes           |                  3 | On Loan: No      |
| Gapco Aiv Interholdco (CP), L.P.                                                                | Gapco Aiv Interholdco (CP), L.P./Term Loan 3/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2694448 | PA      | $2694447.90    | 0.05%             | 2033-03-31      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| Spark Purchaser, Inc.                                                                           | Spark Purchaser, Inc./Initial Term Loan 4/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1286689 | PA      | $1286688.80    | 0.03%             | 2031-04-01      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Cornerstone OnDemand, Inc.                                                                      | Cornerstone OnDemand, Inc./Term Loan                                                                                          | CUSIP: 86803YAB9<br>LEI: 549300Z402F16H5EGH48 | Long             | LON              | CORP              | US        |    5677318 | PA      | $4116055.83    | 0.08%             | 2028-10-16      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| Cornerstone OnDemand, Inc.                                                                      | Cornerstone OnDemand, Inc./Revolver 10/21                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     100000 | PA      | $74000.00      | 0.00%             | 2026-10-15      | Floating      | 6.78%                 | No            |                  3 | On Loan: No      |
| Spark Purchaser, Inc.                                                                           | Spark Purchaser, Inc./Revolver 4/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     281263 | PA      | $281263.00     | 0.01%             | 2030-04-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Cornerstone OnDemand, Inc.                                                                      | Cornerstone OnDemand, Inc./Second Lien Term Loan 10/21                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   22020542 | PA      | $16515406.86   | 0.34%             | 2029-10-15      | Floating      | 10.28%                | No            |                  3 | On Loan: No      |
| Hamsard 3713 Limited                                                                            | Hamsard 3713 Limited/ Incremental Facility 12/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     568038 | PA      | $568038.13     | 0.01%             | 2030-11-22      | Floating      | 10.35%                | No            |                  3 | On Loan: No      |
| PSC Parent, Inc.                                                                                | PSC Parent, Inc./Initial Term Loan 4/24                                                                                       | CUSIP: 58503UAE3<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    4381611 | PA      | $4381610.58    | 0.09%             | 2031-04-03      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| PSC Parent, Inc.                                                                                | PSC Parent, Inc./DDTL-1 4/24                                                                                                  | CUSIP: 58503UAE3<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    1051646 | PA      | $1051646.04    | 0.02%             | 2031-04-03      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| Voldex Entertainment Limited                                                                    | Voldex Entertainment Limited/Term Loan 1/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      14549 | PA      | $14548.75      | 0.00%             | 2029-01-29      | Floating      | 10.95%                | No            |                  3 | On Loan: No      |
| ConnectWise, LLC                                                                                | ConnectWise, LLC/Term Loan B 09/21                                                                                            | CUSIP: 20786NAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    5528021 | PA      | $5090367.20    | 0.10%             | 2028-09-29      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Internet Truckstop Group LLC                                                                    | Internet Truckstop Group LLC/Term B Loan 6/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2328348 | PA      | $2328348.00    | 0.05%             | 2027-04-02      | Floating      | 9.10%                 | No            |                  3 | On Loan: No      |
| SPEAK 2024-11                                                                                   | SPEAK 2024-11A SUB                                                                                                            | CUSIP: 82667DAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3300000 | PA      | $2332298.10    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PFL MMA LLC                                                                                     | PFL MMA LLC/Closing Date Exchange Loan 1/26                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       9181 | PA      | $6702.39       | 0.00%             | 2036-01-22      | Floating      | 8.00%                 | No            |                  3 | On Loan: No      |
| BCC Blueprint Holdings I, LLC                                                                   | BCC Blueprint Holdings I, LLC/Initial Term Loan 9/21                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7377069 | PA      | $7377069.45    | 0.15%             | 2027-09-15      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| LJ Perimeter Buyer, Inc.                                                                        | LJ Perimeter Buyer, Inc./Term Loan 10/22                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3175902 | PA      | $3144143.35    | 0.06%             | 2028-10-31      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| SIXST 2023-22                                                                                   | SIXST 2023-22A SUB                                                                                                            | CUSIP: 83011NAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    7000000 | PA      | $3765111.00    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SIXST 2021-17                                                                                   | SIXST 2021-17A SUB                                                                                                            | CUSIP: 83012GAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    6000000 | PA      | $3143388.00    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SIXST 2020-16                                                                                   | SIXST 2020-16A SUB                                                                                                            | CUSIP: 83012EAB7<br>LEI: 549300YD05LZSDNMVF16 | Long             | ABS-O            | CORP              | KY        |    1067786 | PA      | $634161.31     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SIXST 2022-21                                                                                   | SIXST 2022-21A ER                                                                                                             | CUSIP: 83012TAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2025000 | PA      | $1961747.10    | 0.04%             | 2037-10-21      | Floating      | 9.42%                 | Yes           |                  3 | On Loan: No      |
| SIXST 2025-29                                                                                   | SIXST 2025-29A SUB                                                                                                            | CUSIP: 83013CAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     480000 | PA      | $337200.48     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SIXST 2024-27                                                                                   | SIXST 2024-27A E                                                                                                              | CUSIP: 83013HAA1<br>LEI: 2138005QZ5GFFQO8G389 | Long             | ABS-CBDO         | CORP              | KY        |    1750000 | PA      | $1694344.75    | 0.03%             | 2038-01-17      | Floating      | 8.92%                 | Yes           |                  3 | On Loan: No      |
| SIXST 2025-30                                                                                   | SIXST 2025-30A SUB                                                                                                            | CUSIP: 83013MAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     485000 | PA      | $332922.92     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SIXST 2025-28                                                                                   | SIXST 2025-28A E                                                                                                              | CUSIP: 83013UAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     425000 | PA      | $416223.75     | 0.01%             | 2038-04-21      | Floating      | 9.12%                 | Yes           |                  3 | On Loan: No      |
| SIXST 2025-28                                                                                   | SIXST 2025-28A SUB                                                                                                            | CUSIP: 83013UAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1703000 | PA      | $959293.09     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SIXST 2025-31                                                                                   | SIXST 2025-31A SUB                                                                                                            | CUSIP: 83014AAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   10415000 | PA      | $8904887.49    | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Saturn Purchaser Corp.                                                                          | Saturn Purchaser Corp./Delayed Draw Term Loan 1/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      52275 | PA      | $52275.00      | 0.00%             | 2030-07-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Smarsh Inc.                                                                                     | Smarsh Inc./2025 Refinance Term Loan 1/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4682146 | PA      | $4635324.05    | 0.09%             | 2029-02-16      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Smarsh Inc.                                                                                     | Smarsh Inc./2025 Refinance Delayed Draw Term Loan 1/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     450833 | PA      | $446324.67     | 0.01%             | 2029-02-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Spindrift Beverage Co., Inc.                                                                    | Spindrift Beverage Co., Inc./Delayed Draw Term Loan 2/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     195296 | PA      | $195296.00     | 0.00%             | 2032-02-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Kellermeyer Bergensons Services, LLC                                                            | Kellermeyer Bergensons Services, LLC/Amendment No. 8 Term Loan 3/24                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7751141 | PA      | $7751140.79    | 0.16%             | 2028-11-06      | Floating      | 9.07%                 | No            |                  3 | On Loan: No      |
| Spindrift Beverage Co., Inc.                                                                    | Spindrift Beverage Co., Inc./Revolver 2/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     350445 | PA      | $350445.00     | 0.01%             | 2032-02-19      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Telle Tire & Auto Service, LLC                                                                  | Telle Tire & Auto Service, LLC/Term Loan 3/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     132989 | PA      | $132989.05     | 0.00%             | 2031-03-03      | Floating      | 8.40%                 | No            |                  3 | On Loan: No      |
| North Haven Fairway Buyer, LLC                                                                  | North Haven Fairway Buyer, LLC/Sixth Amendment Term Loan 2/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     640521 | PA      | $640520.80     | 0.01%             | 2028-05-17      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| LGDN Bidco Limited                                                                              | LGDN Bidco Limited/Unitranche Acquisition Facility C 09/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     243377 | PA      | $322131.78     | 0.01%             | 2028-12-08      | Floating      | 9.35%                 | No            |                  3 | On Loan: No      |
| Addsecure Group Services AB                                                                     | Addsecure Group Services AB/Facility B1 03/26                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |   45629973 | PA      | $4820076.06    | 0.10%             | 2033-03-26      | Floating      | 7.84%                 | No            |                  3 | On Loan: No      |
| Team Health Holdings, Inc.                                                                      | Team Health Holdings, Inc./Term Loan 01/26                                                                                    | CUSIP: 87817JAJ7<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |   12437500 | PA      | $12375312.50   | 0.25%             | 2028-06-30      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Marcone Yellowstone Buyer Inc.                                                                  | Marcone Yellowstone Buyer Inc./First Amendment Incremental Term Loan 12/21 Dummy PIK                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     102188 | PA      | $82772.03      | 0.00%             | 2028-06-23      | Floating      | 7.56%                 | No            |                  3 | On Loan: No      |
| Marcone Yellowstone Buyer Inc.                                                                  | Marcone Yellowstone Buyer Inc./First Amendment Incremental Delayed Term Loan 12/21 Dummy PIK                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      32636 | PA      | $26434.97      | 0.00%             | 2028-06-23      | Floating      | 7.56%                 | No            |                  3 | On Loan: No      |
| CNT Holdings I Corp                                                                             | CNT Holdings I Corp/Term Loan 01/25                                                                                           | CUSIP: 12656AAF6<br>LEI: 254900SYIEHMSB69WT08 | Long             | LON              | CORP              | US        |    6938284 | PA      | $6930305.47    | 0.14%             | 2032-11-08      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Solar Bidco Limited                                                                             | Solar Bidco Limited/Incremental Facility 03/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1350000 | PA      | $1786848.79    | 0.04%             | 2029-11-23      | Floating      | 8.63%                 | No            |                  3 | On Loan: No      |
| WSHP FC Acquisition LLC                                                                         | WSHP FC Acquisition LLC/Revolver 3/18                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2945111 | PA      | $2945111.03    | 0.06%             | 2028-03-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Blazing Star Parent, LLC                                                                        | Blazing Star Parent, LLC/Term Loan 8/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   11391622 | PA      | $11391622.25   | 0.23%             | 2030-08-28      | Floating      | 10.67%                | No            |                  3 | On Loan: No      |
| Pinnacle MEP Intermediate Holdco LLC                                                            | Pinnacle MEP Intermediate Holdco LLC/Initial Term Loan 9/24                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1383079 | PA      | $1272432.64    | 0.03%             | 2030-10-03      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| Pinnacle MEP Intermediate Holdco LLC                                                            | Pinnacle MEP Intermediate Holdco LLC/Delayed Draw Term Loan 9/24                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1657404 | PA      | $1524811.26    | 0.03%             | 2030-10-03      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| Pinnacle MEP Intermediate Holdco LLC                                                            | Pinnacle MEP Intermediate Holdco LLC/Revolver 9/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     518491 | PA      | $477011.93     | 0.01%             | 2030-10-03      | Floating      | 10.44%                | No            |                  3 | On Loan: No      |
| MWG BidCo ApS                                                                                   | MWG BidCo ApS/ CAF Facility B2 DKK 12/23                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |    1712329 | PA      | $259556.15     | 0.01%             | 2028-02-29      | Floating      | 9.03%                 | No            |                  3 | On Loan: No      |
| Heavy Construction Systems Specialists, LLC                                                     | Heavy Construction Systems Specialists, LLC/2024 Term Loan 3/24                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2894683 | PA      | $2894682.77    | 0.06%             | 2028-11-16      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| GHX Ultimate Parent Corporation                                                                 | GHX Ultimate Parent Corporation/Term Loan 12/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1927870 | PA      | $1889312.60    | 0.04%             | 2033-02-04      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Spruce Bidco II Inc.                                                                            | Spruce Bidco II Inc./USD Term Loan 1/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   45877447 | PA      | $45877447.04   | 0.93%             | 2032-01-30      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Inszone Mid, LLC                                                                                | Inszone Mid, LLC/Amendment No. 1 Delayed Draw Term Loan 7/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9402537 | PA      | $9402536.89    | 0.19%             | 2029-11-30      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| eCapital Finance Corp.                                                                          | eCapital Finance Corp./Third Incremental Term Loan 10/23                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    3641690 | PA      | $3605273.10    | 0.07%             | 2029-09-29      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| Healthco Investment Ltd                                                                         | Healthco Investment Ltd/ Unitranche Facility (EUR) 08/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2969376 | PA      | $3432170.19    | 0.07%             | 2032-09-09      | Floating      | 7.87%                 | No            |                  3 | On Loan: No      |
| Marcone Yellowstone Buyer Inc.                                                                  | Marcone Yellowstone Buyer Inc./Initial Term Loan 6/21 Dummy PIK                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     343299 | PA      | $278071.86     | 0.01%             | 2028-06-23      | Floating      | 7.56%                 | No            |                  3 | On Loan: No      |
| Koala Investment Holdings, Inc.                                                                 | Koala Investment Holdings, Inc./Term Loan 8/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     937706 | PA      | $918951.88     | 0.02%             | 2032-08-30      | Floating      | 7.95%                 | No            |                  3 | On Loan: No      |
| Pave America Holding, LLC                                                                       | Pave America Holding, LLC/Term Loan 8/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     412508 | PA      | $412507.90     | 0.01%             | 2032-08-27      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Pave America Holding, LLC                                                                       | Pave America Holding, LLC/Delayed Draw Term Loan 8/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     142628 | PA      | $142628.34     | 0.00%             | 2032-08-27      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Pave America Holding, LLC                                                                       | Pave America Holding, LLC/Revolver Loan 8/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     123770 | PA      | $123770.00     | 0.00%             | 2032-08-27      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Firebird Acquisition Corp, Inc.                                                                 | Firebird Acquisition Corp, Inc./Revolver 1/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     473175 | PA      | $473175.00     | 0.01%             | 2032-02-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Firebird Acquisition Corp, Inc.                                                                 | Firebird Acquisition Corp, Inc./Term Loan 1/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2790023 | PA      | $2790023.39    | 0.06%             | 2032-02-02      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Koala Investment Holdings, Inc.                                                                 | Koala Investment Holdings, Inc./Delayed Draw Term Loan 8/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     180792 | PA      | $177176.16     | 0.00%             | 2032-08-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Koala Investment Holdings, Inc.                                                                 | Koala Investment Holdings, Inc./Revolver 8/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      84851 | PA      | $83153.98      | 0.00%             | 2032-08-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Marcone Yellowstone Buyer Inc.                                                                  | Marcone Yellowstone Buyer Inc./Delayed Draw Term Loan 6/21 Dummy PIK                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     114074 | PA      | $92399.62      | 0.00%             | 2028-06-23      | Floating      | 7.56%                 | No            |                  3 | On Loan: No      |
| Echo Senior Finco, LLC                                                                          | Echo Senior Finco, LLC/ Capex/Acquisition Facility 12/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     580403 | PA      | $580403.00     | 0.01%             | 2030-12-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Bausch + Lomb Corporation                                                                       | Bausch + Lomb Corporation/Term Loan 12/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |   10152845 | PA      | $10165536.53   | 0.21%             | 2031-01-15      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| Project Alliance Buyer, LLC                                                                     | Project Alliance Buyer, LLC/Revolver 8/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      40000 | PA      | $40000.00      | 0.00%             | 2031-08-27      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Neptune BidCo US Inc.                                                                           | Neptune BidCo US Inc./Revolver 10/22                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2987699 | PA      | $2838314.05    | 0.06%             | 2027-10-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wealth Enhancement Group, LLC                                                                   | Wealth Enhancement Group, LLC/August 2025 Delayed Draw Term Loan 8/25                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3100285 | PA      | $3069282.15    | 0.06%             | 2028-10-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| STKPK 2022-1                                                                                    | STKPK 2022-1A SUB                                                                                                             | CUSIP: 862179AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |   17520000 | PA      | $7704087.12    | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| STKPK 2022-1                                                                                    | STKPK 2022-1A M                                                                                                               | CUSIP: 862179AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |   17520000 | PA      | $513668.88     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| STKPK 2022-1                                                                                    | STKPK 2022-1A ER                                                                                                              | CUSIP: 862179AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    1687500 | PA      | $1459409.06    | 0.03%             | 2037-10-15      | Floating      | 9.82%                 | Yes           |                  3 | On Loan: No      |
| Merit Financial Group, LLC                                                                      | Merit Financial Group, LLC/Initial Term Loan 8/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     691372 | PA      | $691372.24     | 0.01%             | 2032-08-27      | Floating      | 8.44%                 | No            |                  3 | On Loan: No      |
| Mustang Prospects Purchaser, LLC                                                                | Mustang Prospects Purchaser, LLC/Delayed Draw Term Loan 8/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     157921 | PA      | $157921.00     | 0.00%             | 2031-06-13      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Banyan Software Holdings, LLC                                                                   | Banyan Software Holdings, LLC/Amendment No. 1 Incremental Delayed Draw Term Loan 4/25                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2407141 | PA      | $2407140.58    | 0.05%             | 2031-01-02      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Generator Buyer, Inc.                                                                           | Generator Buyer, Inc./Revolver 7/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     361777 | PA      | $260065.42     | 0.01%             | 2030-07-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Generator Buyer, Inc.                                                                           | Generator Buyer, Inc./Term A Loan 7/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    2014660 | PA      | $1448249.57    | 0.03%             | 2030-07-22      | Floating      | 6.81%                 | No            |                  3 | On Loan: No      |
| Generator Buyer, Inc.                                                                           | Generator Buyer, Inc./CAD Delayed Draw Term Loan 7/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |     580549 | PA      | $417331.06     | 0.01%             | 2030-07-22      | Floating      | 6.81%                 | No            |                  3 | On Loan: No      |
| AeriTek Global US Acquisition Inc.                                                              | AeriTek Global US Acquisition Inc./First Lien Term Loan 8/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     639879 | PA      | $639879.29     | 0.01%             | 2030-08-27      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| AeriTek Global US Acquisition Inc.                                                              | AeriTek Global US Acquisition Inc./Revolver 8/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      69260 | PA      | $69260.00      | 0.00%             | 2030-08-27      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| FL Hawk Intermediate Holdings, Inc.                                                             | FL Hawk Intermediate Holdings, Inc./Revolving Loan (First Lien) 02/24                                                         | CUSIP: 30339AAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    2646284 | PA      | $2646283.95    | 0.05%             | 2029-02-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Therapy Brands Holdings LLC                                                                     | Therapy Brands Holdings LLC/Initial Term Loan (Second Lien) 05/21                                                             | CUSIP: 88343YAG1<br>LEI: 2549001BWHNUX335M838 | Long             | LON              | CORP              | US        |    4334023 | PA      | $3380538.25    | 0.07%             | 2029-05-18      | Floating      | 10.68%                | No            |                  3 | On Loan: No      |
| Celnor Group Limited                                                                            | Celnor Group Limited/Incremental Facility Commitment 10/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1142132 | PA      | $1511716.76    | 0.03%             | 2031-08-05      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| SYMP 2022-33                                                                                    | SYMP 2022-33A E1R                                                                                                             | CUSIP: 87169KAE9<br>LEI: 254900K6DKU2R9SF7M98 | Long             | ABS-CBDO         | CORP              | JE        |    1250000 | PA      | $1154510.00    | 0.02%             | 2038-01-24      | Floating      | 9.02%                 | Yes           |                  3 | On Loan: No      |
| SYMP 2023-40                                                                                    | SYMP 2023-40A ER                                                                                                              | CUSIP: 871988AE1<br>LEI: 25490001HYY3IX1I5Z32 | Long             | ABS-CBDO         | CORP              | BM        |    1500000 | PA      | $1469485.50    | 0.03%             | 2038-01-05      | Floating      | 8.92%                 | Yes           |                  3 | On Loan: No      |
| Antenore Bidco SpA                                                                              | Antenore Bidco SpA/Principal Further Unfunded Bond 10/23                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IT        |    1150000 | PA      | $1329233.90    | 0.03%             | 2031-11-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Chillaton Bidco Limited                                                                         | Chillaton Bidco Limited/Facility B 03/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1490526 | PA      | $1972847.84    | 0.04%             | 2031-05-09      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Chillaton Bidco Limited                                                                         | Chillaton Bidco Limited/Committed Additional Facility 03/24                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1562000 | PA      | $2067450.23    | 0.04%             | 2031-05-09      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Nelipak Holding Company                                                                         | Nelipak Holding Company/USD Revolver 3/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     323017 | PA      | $319786.83     | 0.01%             | 2031-03-26      | Floating      | 9.18%                 | No            |                  3 | On Loan: No      |
| Nelipak Holding Company                                                                         | Nelipak Holding Company/USD Term Loan 3/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     971912 | PA      | $962192.46     | 0.02%             | 2031-03-26      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Nelipak Holding Company                                                                         | Nelipak Holding Company/USD Delayed Draw Term Loan 3/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     380908 | PA      | $377098.92     | 0.01%             | 2031-03-26      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                                    | TEP 6.0% Sr Unsecured Nts due 2030 144A                                                                                       | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   10093000 | PA      | $10039142.74   | 0.20%             | 2030-12-31      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Cobalt Buyer Sub, Inc.                                                                          | Cobalt Buyer Sub, Inc./Closing Date Term Loan 10/21                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7129758 | PA      | $6488079.68    | 0.13%             | 2028-10-02      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Cobalt Buyer Sub, Inc.                                                                          | Cobalt Buyer Sub, Inc./Delayed Draw Term Loan 10/21                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2390937 | PA      | $2175752.97    | 0.04%             | 2028-10-02      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Cobalt Buyer Sub, Inc.                                                                          | Cobalt Buyer Sub, Inc./Revolver 10/21                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1194608 | PA      | $1087092.83    | 0.02%             | 2027-10-01      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Nelipak Holding Company                                                                         | Nelipak Holding Company/EUR Term Loan 3/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1866817 | PA      | $2136192.62    | 0.04%             | 2031-03-26      | Floating      | 7.63%                 | No            |                  3 | On Loan: No      |
| Nelipak Holding Company                                                                         | Nelipak Holding Company/EUR Delayed Draw Term Loan 3/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     731636 | PA      | $837208.68     | 0.02%             | 2031-03-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Nelipak Holding Company                                                                         | Nelipak Holding Company/EUR Revolver 3/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     196666 | PA      | $225044.66     | 0.00%             | 2031-03-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wellington-Altus Financial Inc.                                                                 | Wellington-Altus Financial Inc./Term Loan 8/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    1128646 | PA      | $811333.13     | 0.02%             | 2030-08-16      | Floating      | 7.60%                 | No            |                  3 | On Loan: No      |
| Wellington-Altus Financial Inc.                                                                 | Wellington-Altus Financial Inc./Delayed Draw Term Loan 8/24                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |    1145833 | PA      | $823688.45     | 0.02%             | 2030-08-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Churchill Opco Holdings LLC                                                                     | Churchill Opco Holdings LLC/ Third Amendment Delayed Draw Term Loan 12/25                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1104579 | PA      | $1104579.00    | 0.02%             | 2029-11-09      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Livewire Acquisition, Inc.                                                                      | Livewire Acquisition, Inc./Initial Term Loan 12/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1601259 | PA      | $1585246.41    | 0.03%             | 2032-12-31      | Floating      | 7.95%                 | No            |                  3 | On Loan: No      |
| Galway Borrower LLC                                                                             | Galway Borrower LLC/Revolver 9/21                                                                                             | CUSIP: 36457WAB7<br>LEI: 254900EKSXH6GINLK281 | Long             | LON              | CORP              | US        |    1690460 | PA      | $1673555.19    | 0.03%             | 2028-09-29      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Envisage Dental UK Limited                                                                      | Envisage Dental UK Limited/Incremental Facility 10/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2778089 | PA      | $3677055.54    | 0.07%             | 2031-04-08      | Floating      | 10.24%                | No            |                  3 | On Loan: No      |
| Saber Parent Holdings Corp.                                                                     | Saber Parent Holdings Corp./ Revolver 12/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     283502 | PA      | $280666.98     | 0.01%             | 2032-12-16      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| Team Health Holdings, Inc.                                                                      | TMH 8.375% Secured Nts due 2028 144A                                                                                          | CUSIP: 87817AAE7<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | DBT              | CORP              | US        |    6000000 | PA      | $5924436.66    | 0.12%             | 2028-06-30      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| SIG Parent Holdings, LLC                                                                        | SIG Parent Holdings, LLC/Revolver 8/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     666874 | PA      | $666874.00     | 0.01%             | 2031-08-21      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SIG Parent Holdings, LLC                                                                        | SIG Parent Holdings, LLC/Initial Term Loan 8/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3743465 | PA      | $3743465.22    | 0.08%             | 2031-08-21      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| SIG Parent Holdings, LLC                                                                        | SIG Parent Holdings, LLC/Delayed Draw Term Loan 8/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2177933 | PA      | $2177932.97    | 0.04%             | 2031-08-21      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Echo Purchaser, Inc.                                                                            | Echo Purchaser, Inc./Term Loan 11/23                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1807834 | PA      | $1807834.44    | 0.04%             | 2029-11-19      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Echo Purchaser, Inc.                                                                            | Echo Purchaser, Inc./Delayed Draw Term Loan 11/23                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     154957 | PA      | $154957.10     | 0.00%             | 2029-11-19      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Echo Purchaser, Inc.                                                                            | Echo Purchaser, Inc./Revolving Credit 11/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     213029 | PA      | $213029.00     | 0.00%             | 2029-11-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Goose Borrower, L.P.                                                                            | Goose Borrower, L.P./ Delayed Draw Term Loan 3/26                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1622617 | PA      | $1606390.83    | 0.03%             | 2033-03-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Goose Borrower, L.P.                                                                            | Goose Borrower, L.P./ Revolving Credit Facility 3/26                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     674264 | PA      | $667521.36     | 0.01%             | 2033-03-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| PSC Parent, Inc.                                                                                | PSC Parent, Inc./DDTL-2 4/24                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     730268 | PA      | $730268.10     | 0.01%             | 2031-04-03      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| GC Waves Holdings, Inc.                                                                         | GC Waves Holdings, Inc./2024 Replacing Term Loans 10/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1858839 | PA      | $1858838.87    | 0.04%             | 2030-10-04      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| GC Waves Holdings, Inc.                                                                         | GC Waves Holdings, Inc./2024 Delayed Draw Term Loans 10/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8861541 | PA      | $8861541.10    | 0.18%             | 2030-10-04      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Panther NewCo                                                                                   | Panther NewCo/Tranche A Bonds 05/22                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    8250135 | PA      | $9535964.40    | 0.19%             | 2029-05-24      | Floating      | 7.55%                 | No            |                  3 | On Loan: No      |
| Panther NewCo                                                                                   | Panther NewCo/Tranche B Bonds 05/22                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    2798291 | PA      | $3234420.45    | 0.07%             | 2029-05-24      | Floating      | 7.55%                 | No            |                  3 | On Loan: No      |
| LBC Woodlands Purchaser LLC                                                                     | LBC Woodlands Purchaser LLC/Term Loan 7/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1298459 | PA      | $1259505.04    | 0.03%             | 2031-07-28      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| LBC Woodlands Purchaser LLC                                                                     | LBC Woodlands Purchaser LLC/Delayed Draw Term Loan 7/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     656513 | PA      | $636817.84     | 0.01%             | 2031-07-28      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| LBC Woodlands Purchaser LLC                                                                     | LBC Woodlands Purchaser LLC/Revolver 7/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     610611 | PA      | $592292.67     | 0.01%             | 2030-07-26      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Rubicone Bidco Limited                                                                          | Rubicone Bidco Limited/Accordion Facility (PIK )10/23                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     586355 | PA      | $776094.91     | 0.02%             | 2028-12-01      | Floating      | 12.12%                | No            |                  3 | On Loan: No      |
| Indigo Acquisition B.V.                                                                         | Indigo Acquisition B.V./Facility B EUR Tranche B2 08/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1275705 | PA      | $1474531.09    | 0.03%             | 2031-09-10      | Floating      | 9.97%                 | No            |                  3 | On Loan: No      |
| Indigo Acquisition B.V.                                                                         | Indigo Acquisition B.V./Acquisition/Capex Facility Tranche 2 08/24                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     691484 | PA      | $799255.87     | 0.02%             | 2031-09-10      | Floating      | 9.97%                 | No            |                  3 | On Loan: No      |
| Unifi Aviation North America, LLC                                                               | Unifi Aviation North America, LLC/Revolver 3/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $1000.00       | 0.00%             | 2028-09-29      | Floating      | 6.56%                 | No            |                  3 | On Loan: No      |
| Two Six Labs, LLC                                                                               | Two Six Labs, LLC/2024 Delayed Draw Term Loan 3/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3758216 | PA      | $3758215.91    | 0.08%             | 2027-08-20      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Adonis Acquisition Holdings LLC                                                                 | Adonis Acquisition Holdings LLC/Reinstated Term Loan 2/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2887119 | PA      | $2887118.92    | 0.06%             | 2030-02-07      | Floating      | 9.29%                 | No            |                  3 | On Loan: No      |
| Celnor Group Limited                                                                            | Celnor Group Limited/Senior Term Facility 08/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     879442 | PA      | $1164021.80    | 0.02%             | 2031-08-05      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| Celnor Group Limited                                                                            | Celnor Group Limited/Acquisition/Capex Facility 08/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1370558 | PA      | $1814059.52    | 0.04%             | 2031-08-05      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| SG Acquisition, Inc.                                                                            | SG Acquisition, Inc./2024 Term Loan 4/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5264201 | PA      | $5264200.61    | 0.11%             | 2030-04-03      | Floating      | 8.40%                 | No            |                  3 | On Loan: No      |
| SV Newco 2, Inc.                                                                                | SV Newco 2, Inc./Initial Delayed Draw Term Loan 5/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     583844 | PA      | $583844.05     | 0.01%             | 2031-06-02      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| AQ Sunshine, Inc.                                                                               | AQ Sunshine, Inc./Revolver 7/24                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1652214 | PA      | $1652214.00    | 0.03%             | 2030-07-24      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| CAVU 2022-2                                                                                     | CAVU 2022-2A ER                                                                                                               | CUSIP: 895969AE3<br>LEI: 549300JHXVOIVLAKRV03 | Long             | ABS-CBDO         | CORP              | KY        |    2950000 | PA      | $2943223.85    | 0.06%             | 2038-03-27      | Floating      | 10.12%                | Yes           |                  3 | On Loan: No      |
| Trident TPI Holdings, Inc.                                                                      | TEKNI 12.75% Sr Unsecured Nts due 2028 144A                                                                                   | CUSIP: 89616RAC3<br>LEI: 549300TPLK304J3RNC85 | Long             | DBT              | CORP              | US        |    6102000 | PA      | $5940594.78    | 0.12%             | 2028-12-31      | Fixed         | 12.75%                | Yes           |                  2 | On Loan: No      |
| CAVU 2021-1                                                                                     | CAVU 2021-1A ER                                                                                                               | CUSIP: 89624PAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1250000 | PA      | $1161673.75    | 0.02%             | 2037-07-23      | Floating      | 10.67%                | Yes           |                  3 | On Loan: No      |
| CAVU 2022-2                                                                                     | CAVU 2022-2A D2R                                                                                                              | CUSIP: 89625BAW3<br>LEI: 549300JHXVOIVLAKRV03 | Long             | ABS-CBDO         | CORP              | KY        |    2575000 | PA      | $2585632.18    | 0.05%             | 2038-03-27      | Fixed         | 8.34%                 | Yes           |                  3 | On Loan: No      |
| Trinity Capital Inc                                                                             | Trinity Capital Inc. 7.54% Series A Senior Note, Tranche A, Due 10/27                                                         | CUSIP: 896442AX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   20300000 | PA      | $20278672.01   | 0.41%             | 2027-10-30      | Fixed         | 7.54%                 | No            |                  3 | On Loan: No      |
| TriplePoint Venture Growth BDC Corp                                                             | TriplePoint Venture Growth BDC Corp. 8.11% Senior Notes, Due 2/28                                                             | CUSIP: 89677YBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   17100000 | PA      | $16974759.09   | 0.34%             | 2028-02-12      | Fixed         | 9.11%                 | No            |                  3 | On Loan: No      |
| Highline Aftermarket Acquisition, LLC                                                           | Highline Aftermarket Acquisition, LLC/2025-1 Refinancing Term Loan 2/25                                                       | CUSIP: 43110HAF6<br>LEI: 254900Q5W6G5KG3GHJ04 | Long             | LON              | CORP              | US        |   15500000 | PA      | $15461250.02   | 0.31%             | 2030-02-19      | Floating      | 7.17%                 | No            |                  3 | On Loan: No      |
| Priority Waste Holdings LLC                                                                     | Priority Waste Holdings LLC/ Amendment No. 4 Term Loan 12/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     403900 | PA      | $363509.68     | 0.01%             | 2029-08-20      | Floating      | 14.66%                | No            |                  3 | On Loan: No      |
| Priority Waste Holdings LLC                                                                     | Priority Waste Holdings LLC/ Delayed Draw Term Loan C 12/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     100115 | PA      | $90103.50      | 0.00%             | 2029-08-20      | Floating      | 14.66%                | No            |                  3 | On Loan: No      |
| Himalaya TopCo LLC                                                                              | Himalaya TopCo LLC/Amendment No. 1 Delayed Draw Term Loan 8/25                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1300615 | PA      | $1287608.85    | 0.03%             | 2032-06-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Himalaya TopCo LLC                                                                              | Himalaya TopCo LLC/Amendment No. 1 Term Loan 8/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     453901 | PA      | $453901.02     | 0.01%             | 2032-06-03      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| ASP-r-pac Acquisition Co LLC                                                                    | ASP-r-pac Acquisition Co LLC/2024 Incremental Term Loan 10/24                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     468738 | PA      | $454675.76     | 0.01%             | 2027-12-29      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| NMN Holdings III Corp.                                                                          | NMN Holdings III Corp./CAD Tranche Incremental Term Loan 9/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     712912 | PA      | $512480.95     | 0.01%             | 2031-07-31      | Floating      | 7.28%                 | No            |                  3 | On Loan: No      |
| ANCHC 2021-19                                                                                   | ANCHC 2021-19A SUB                                                                                                            | CUSIP: 03328KAC8<br>LEI: 549300ZNOS7Q8W8H3S38 | Long             | ABS-O            | CORP              | KY        |    1120000 | PA      | $602884.80     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HP RSS Buyer, Inc.                                                                              | HP RSS Buyer, Inc./First Amendment DDTL 3/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     800309 | PA      | $800309.40     | 0.02%             | 2029-12-11      | Floating      | 8.44%                 | No            |                  3 | On Loan: No      |
| GSV Purchaser, Inc.                                                                             | GSV Purchaser, Inc./Initial Term Loan 8/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3661851 | PA      | $3661850.81    | 0.07%             | 2031-08-01      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| Oakbridge Insurance Agency LLC                                                                  | Oakbridge Insurance Agency LLC/Term A Loan 11/23                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1267576 | PA      | $1267576.31    | 0.03%             | 2029-11-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Oakbridge Insurance Agency LLC                                                                  | Oakbridge Insurance Agency LLC/Delayed Draw Term Loan 11/23                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     612113 | PA      | $612112.53     | 0.01%             | 2029-11-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Oakbridge Insurance Agency LLC                                                                  | Oakbridge Insurance Agency LLC/Revolver 11/23                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     113415 | PA      | $113415.00     | 0.00%             | 2029-11-01      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Cotiviti Holdings, Inc.                                                                         | Cotiviti Holdings, Inc./Term Loan 02/25                                                                                       | CUSIP: 22164MAF4<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    5472500 | PA      | $5026491.25    | 0.10%             | 2032-03-26      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| KNPC Holdco, LLC                                                                                | KNPC Holdco, LLC/Term Loan Tranche C-1 10/23                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     467915 | PA      | $467914.72     | 0.01%             | 2029-10-22      | Floating      | 9.77%                 | No            |                  3 | On Loan: No      |
| GENERATOR US BUYER, INC.                                                                        | GENERATOR US BUYER, INC./Delayed Draw Term B Loan  12/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     783734 | PA      | $783734.00     | 0.02%             | 2030-07-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Bamboo US BidCo LLC                                                                             | Bamboo US BidCo LLC/Tranche B-1 DDTL 11/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     979555 | PA      | $979554.97     | 0.02%             | 2030-09-30      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Zinc Buyer Corporation                                                                          | Zinc Buyer Corporation/Term Loan 7/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1869076 | PA      | $1869075.85    | 0.04%             | 2031-07-24      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Zinc Buyer Corporation                                                                          | Zinc Buyer Corporation/Delayed Draw Term Loan 7/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     189541 | PA      | $189540.77     | 0.00%             | 2031-07-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Zinc Buyer Corporation                                                                          | Zinc Buyer Corporation/Revolver 7/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     407178 | PA      | $407178.00     | 0.01%             | 2031-07-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Echo Senior Finco, LLC                                                                          | Echo Senior Finco, LLC/ Original Revolving Facility 12/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     448753 | PA      | $448753.00     | 0.01%             | 2026-05-14      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| VPP Intermediate Holdings, LLC                                                                  | VPP Intermediate Holdings, LLC/Revolving Loan 12/21                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     315462 | PA      | $315462.10     | 0.01%             | 2027-12-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Reddy Ice LLC                                                                                   | Reddy Ice LLC/Revolver 4/24                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8412775 | PA      | $8412775.00    | 0.17%             | 2029-04-23      | Floating      | 12.25%                | No            |                  3 | On Loan: No      |
| Reddy Ice LLC                                                                                   | Reddy Ice LLC/Delayed Draw Term Loan 4/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7864874 | PA      | $7864874.49    | 0.16%             | 2029-04-23      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Reddy Ice LLC                                                                                   | Reddy Ice LLC/Initial Term Loan 4/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   33237999 | PA      | $33237998.55   | 0.67%             | 2029-04-23      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Datix Bidco Limited                                                                             | Datix Bidco Limited/Facility B USD 4/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    5965258 | PA      | $5905605.42    | 0.12%             | 2031-04-30      | Floating      | 8.73%                 | No            |                  3 | On Loan: No      |
| CST Holding Company                                                                             | CST Holding Company/Term Loan 11/22                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1046896 | PA      | $1046895.78    | 0.02%             | 2028-11-01      | Floating      | 8.77%                 | No            |                  3 | On Loan: No      |
| CST Holding Company                                                                             | CST Holding Company/Revolver 11/22                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      79358 | PA      | $79358.00      | 0.00%             | 2028-11-01      | Floating      | 8.86%                 | No            |                  3 | On Loan: No      |
| Datix Bidco Limited                                                                             | Datix Bidco Limited/Revolver 4/24                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1423134 | PA      | $1408902.66    | 0.03%             | 2030-10-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Msis Holdings, Inc.                                                                             | Msis Holdings, Inc./Revolver 3/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     830296 | PA      | $830296.00     | 0.02%             | 2031-03-10      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Victors Purchaser, LLC                                                                          | Victors Purchaser, LLC/Revolver 8/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2533817 | PA      | $2508478.83    | 0.05%             | 2032-12-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BR PJK Produce, LLC                                                                             | BR PJK Produce, LLC/Delayed Draw Term A-4 Loan 12/23                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     556843 | PA      | $556843.09     | 0.01%             | 2027-11-15      | Floating      | 10.06%                | No            |                  3 | On Loan: No      |
| Badia Spices, LLC                                                                               | Badia Spices, LLC/Initial Term B Loan 10/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8121560 | PA      | $8121560.45    | 0.16%             | 2030-11-01      | Floating      | 7.92%                 | No            |                  3 | On Loan: No      |
| Badia Spices, LLC                                                                               | Badia Spices, LLC/Revolver 10/24                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     210510 | PA      | $210510.40     | 0.00%             | 2030-11-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| LHS Borrower, LLC                                                                               | LHS Borrower, LLC/Revolver 9/25                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     190892 | PA      | $187074.16     | 0.00%             | 2031-09-04      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Davidson Hotel Company LLC                                                                      | Davidson Hotel Company LLC/Initial Term Loan 10/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3306095 | PA      | $3306095.00    | 0.07%             | 2031-10-31      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Davidson Hotel Company LLC                                                                      | Davidson Hotel Company LLC/Delayed Draw Term Loan 10/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1083929 | PA      | $1083929.00    | 0.02%             | 2031-10-31      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Davidson Hotel Company LLC                                                                      | Davidson Hotel Company LLC/Revolver 10/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     566652 | PA      | $566652.00     | 0.01%             | 2031-10-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Neovia Logistics, LP                                                                            | Neovia Logistics, LP/New 1L Term Loan 09/22                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     506032 | PA      | $506031.89     | 0.01%             | 2027-11-01      | Floating      | 12.90%                | No            |                  3 | On Loan: No      |
| Aptean Acquiror Inc.                                                                            | Aptean Acquiror Inc./Delayed Draw Term Loan 2/25                                                                              | CUSIP: 03834WAY1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     551189 | PA      | $545677.10     | 0.01%             | 2031-01-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| C Block Development LLC                                                                         | C Block Development LLC/Senior Loan 12/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   40438500 | PA      | $40034115.00   | 0.81%             | 2029-02-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Revalize, Inc.                                                                                  | Revalize, Inc./Tranche 2 Delayed Draw Term Loan                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1773116 | PA      | $1524879.82    | 0.03%             | 2029-04-16      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| 285 Mezz LLC                                                                                    | 285 Mezz LLC/Mezz Loan 3/22                                                                                                   | CUSIP: 285S59207<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    4972452 | PA      | $2824899.71    | 0.06%             | 2025-12-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| 285 Schermerhorn LLC                                                                            | 285 Schermerhorn LLC/Senior Loan 3/22                                                                                         | CUSIP: 285S59208<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   12082299 | PA      | $7105479.16    | 0.14%             | 2026-12-31      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wellington Bidco Inc.                                                                           | Wellington Bidco Inc./First Amendment Delayed Draw Term  Loan 12/25                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     681005 | PA      | $674194.95     | 0.01%             | 2030-06-05      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Venture Global LNG Inc                                                                          | VENLNG 8.375% Secured Nts due 2031 144A                                                                                       | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    4997000 | PA      | $5194531.41    | 0.11%             | 2031-06-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Adonis Acquisition Holdings LLC                                                                 | Adonis Acquisition Holdings LLC/Middle Out Delayed Draw Term Loan 2/25                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1048237 | PA      | $1048237.34    | 0.02%             | 2030-02-07      | Floating      | 11.25%                | No            |                  3 | On Loan: No      |
| World Insurance Associates, LLC                                                                 | World Insurance Associates, LLC/Term Loan 02/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1841920 | PA      | $1823500.37    | 0.04%             | 2030-04-03      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Vertex Service Partners, LLC                                                                    | Vertex Service Partners, LLC/Term Loan 11/23                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1036774 | PA      | $943464.19     | 0.02%             | 2030-11-08      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Vertex Service Partners, LLC                                                                    | Vertex Service Partners, LLC/Revolver 11/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     209975 | PA      | $191077.25     | 0.00%             | 2030-11-08      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Vertex Service Partners, LLC                                                                    | Vertex Service Partners, LLC/Delayed Draw Term Loan 11/23                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1977388 | PA      | $1799423.19    | 0.04%             | 2030-11-08      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| VOYA 2025-2                                                                                     | VOYA 2025-2A E                                                                                                                | CUSIP: 92891WAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2775409 | PA      | $2773904.73    | 0.06%             | 2038-07-15      | Floating      | 9.92%                 | Yes           |                  3 | On Loan: No      |
| VOYA 2025-2                                                                                     | VOYA 2025-2A SUB                                                                                                              | CUSIP: 92891WAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    9503000 | PA      | $7630262.80    | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VOYA 2021-3                                                                                     | VOYA 2021-3A ER                                                                                                               | CUSIP: 92919CAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    2500000 | PA      | $2449752.50    | 0.05%             | 2038-04-15      | Floating      | 9.57%                 | Yes           |                  3 | On Loan: No      |
| VOYA 2021-3                                                                                     | VOYA 2021-3A D2R                                                                                                              | CUSIP: 92919DAW8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1875000 | PA      | $1879318.13    | 0.04%             | 2038-04-15      | Fixed         | 8.15%                 | Yes           |                  3 | On Loan: No      |
| VOYA 2024-1                                                                                     | VOYA 2024-1A E                                                                                                                | CUSIP: 92920EAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1681875 | PA      | $1678918.26    | 0.03%             | 2037-04-15      | Floating      | 10.32%                | Yes           |                  3 | On Loan: No      |
| VOYA 2024-1                                                                                     | VOYA 2024-1A SUB                                                                                                              | CUSIP: 92920EAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3104000 | PA      | $2039048.64    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Chariot Buyer LLC                                                                               | Chariot Buyer LLC/Revolving Credit Loan 11/21                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     100000 | PA      | $98964.00      | 0.00%             | 2029-01-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Safe Home Security, Inc.                                                                        | Safe Home Security, Inc./Initial Term Loan 08/20                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     670647 | PA      | $657234.01     | 0.01%             | 2026-12-31      | Floating      | 9.78%                 | No            |                  3 | On Loan: No      |
| BigHand UK Bidco Limited                                                                        | BigHand UK Bidco Limited/Facility B1 GBP Commitment 06/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     790050 | PA      | $1045703.37    | 0.02%             | 2030-06-25      | Floating      | 9.95%                 | No            |                  3 | On Loan: No      |
| ClubCorp Holdings, Inc.                                                                         | ClubCorp Holdings, Inc./Closing Date Term B Loan 7/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1485495 | PA      | $1485494.96    | 0.03%             | 2032-07-09      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| eCapital Finance Corp.                                                                          | eCapital Finance Corp./Fourth Incremental Term Loan 10/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | CA        |   15868571 | PA      | $15709885.29   | 0.32%             | 2029-09-29      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| DecoPac, Inc.                                                                                   | DecoPac, Inc./Revolver 5/21                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    4654692 | PA      | $4654692.01    | 0.09%             | 2030-05-14      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| CentralSquare Technologies, LLC                                                                 | CentralSquare Technologies, LLC/Term Loan 4/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   31117095 | PA      | $31117095.12   | 0.63%             | 2030-04-12      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Lightbeam Bidco, Inc.                                                                           | Lightbeam Bidco, Inc./First Amendment Incremental Delayed Draw Term Loan 11/23                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     258935 | PA      | $258935.24     | 0.01%             | 2030-05-06      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Lightbeam Bidco, Inc.                                                                           | Lightbeam Bidco, Inc./First Amendment Incremental Term Loan 11/23                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     128809 | PA      | $128809.09     | 0.00%             | 2030-05-06      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| LABL, Inc.                                                                                      | LABL, Inc./Initial Dollar Term Loan 10/21                                                                                     | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |   19498277 | PA      | $10139103.96   | 0.21%             | 2028-10-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| VADELLA BIDCO LIMITED                                                                           | VADELLA BIDCO LIMITED/Bridge Facility 12/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      79681 | PA      | $105465.11     | 0.00%             | 2032-06-23      | Floating      | 9.23%                 | No            |                  3 | On Loan: No      |
| VADELLA BIDCO LIMITED                                                                           | VADELLA BIDCO LIMITED/ Facility B 12/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     163062 | PA      | $215827.51     | 0.00%             | 2032-12-23      | Floating      | 9.26%                 | No            |                  3 | On Loan: No      |
| VADELLA BIDCO LIMITED                                                                           | VADELLA BIDCO LIMITED/Committed Acquisition Facility 12/25VADELLA BIDCO LIMITED                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     217416 | PA      | $287770.01     | 0.01%             | 2032-12-23      | Floating      | 9.23%                 | No            |                  3 | On Loan: No      |
| Maximus BidCo AB                                                                                | Maximus BidCo AB/Facility B 04/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |  154830003 | PA      | $16355310.80   | 0.33%             | 2032-04-30      | Floating      | 7.28%                 | No            |                  3 | On Loan: No      |
| Premiere Buyer, LLC                                                                             | Premiere Buyer, LLC/Revolver 5/24                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1061845 | PA      | $1061845.00    | 0.02%             | 2030-05-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ClubCorp Holdings, Inc.                                                                         | ClubCorp Holdings, Inc./Delayed Draw Term B Loan 7/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      97123 | PA      | $97123.00      | 0.00%             | 2032-07-09      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Maximus BidCo AB                                                                                | Maximus BidCo AB/Facility D 04/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |   68718247 | PA      | $7258982.53    | 0.15%             | 2032-04-30      | Floating      | 5.37%                 | No            |                  3 | On Loan: No      |
| YE Brands Holdings, LLC                                                                         | YE Brands Holdings, LLC/Initial Term Loan 10/21                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1038369 | PA      | $1038368.64    | 0.02%             | 2027-10-18      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| YE Brands Holdings, LLC                                                                         | YE Brands Holdings, LLC/Revolver 10/21                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     296885 | PA      | $296885.04     | 0.01%             | 2027-10-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BCPE Empire Holdings, Inc.                                                                      | BCPE Empire Holdings, Inc./Term Loan B 02/25                                                                                  | CUSIP: 05550HAQ8<br>LEI: 549300O2G0VI2955B626 | Long             | LON              | CORP              | US        |    2448997 | PA      | $2409200.72    | 0.05%             | 2030-12-11      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Precisely Software Incorporated (f/k/a Syncsort Incorporated)                                   | Precisely Software Incorporated (f/k/a Syncsort Incorporated)/Third Amendment Term Loan (First Lien) 10/21                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   12958788 | PA      | $9913472.85    | 0.20%             | 2028-04-24      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Illinois Investment S.a.r.l./Interest Bearing Loan 02/24                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |   10050000 | PA      | $1061621.59    | 0.02%             | 2029-04-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Trading Technologies International, Inc.                                                        | Trading Technologies International, Inc./First Amendment Term Loan 12/25                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     286021 | PA      | $280300.58     | 0.01%             | 2032-11-04      | Floating      | 7.91%                 | No            |                  3 | On Loan: No      |
| Gainwell Acquisition Corp.                                                                      | Gainwell Acquisition Corp./Term B Loan 10/20                                                                                  | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   14734455 | PA      | $14280191.32   | 0.29%             | 2027-10-01      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Vetopia ApS                                                                                     | Vetopia ApS/ Capex Facility III 09/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |     678346 | PA      | $784070.00     | 0.02%             | 2029-01-25      | Floating      | 7.00%                 | No            |                  3 | On Loan: No      |
| Wellness AcquisitionCo, Inc.                                                                    | Wellness AcquisitionCo, Inc./Restatement Delayed Draw Term Loan 2/25                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     828620 | PA      | $828619.69     | 0.02%             | 2029-01-22      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Next Holdco, LLC                                                                                | Next Holdco, LLC/Term Loan 11/23                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     978548 | PA      | $978548.38     | 0.02%             | 2030-11-12      | Floating      | 8.89%                 | No            |                  3 | On Loan: No      |
| Next Holdco, LLC                                                                                | Next Holdco, LLC/Revolver 11/23                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      36840 | PA      | $36840.00      | 0.00%             | 2029-11-09      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SG Acquisition, Inc.                                                                            | SG Acquisition, Inc./Multi-Currency Revolver 4/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     417735 | PA      | $417735.00     | 0.01%             | 2030-04-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Premiere Buyer, LLC                                                                             | Premiere Buyer, LLC/Term Loan 5/24                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3525511 | PA      | $3525511.00    | 0.07%             | 2031-05-01      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Reagent Chemical & Research, LLC                                                                | Reagent Chemical & Research, LLC/Initial Term Loan 4/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2073617 | PA      | $2073616.73    | 0.04%             | 2031-04-30      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Reagent Chemical & Research, LLC                                                                | Reagent Chemical & Research, LLC/Revolver 4/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     564354 | PA      | $564354.00     | 0.01%             | 2030-04-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Antea Group Holding B.V.                                                                        | Antea Group Holding B.V./Facility B 03/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    2500000 | PA      | $2889638.91    | 0.06%             | 2030-03-28      | Floating      | 8.38%                 | No            |                  3 | On Loan: No      |
| Radwell Parent, LLC                                                                             | Radwell Parent, LLC/First Amendment Incremental Term Loan 12/22                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1852800 | PA      | $1852800.00    | 0.04%             | 2029-04-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| TVG-MGT UPPER INTERMEDIATE HOLDINGS, LLC                                                        | TVG-MGT UPPER INTERMEDIATE HOLDINGS, LLC/ PIK Note 08/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     474906 | PA      | $460658.92     | 0.01%             | 2031-08-26      | Floating      | 14.00%                | No            |                  3 | On Loan: No      |
| HH-Stella, Inc.                                                                                 | HH-Stella, Inc./2024 Delayed Draw Term Loan 4/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1691837 | PA      | $1691836.54    | 0.03%             | 2028-04-24      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Shur-Co Acquisition, Inc.                                                                       | Shur-Co Acquisition, Inc./Fifth Amendment Incremental Term Loan 5/24                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     833425 | PA      | $833425.26     | 0.02%             | 2030-07-01      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| Global Medical Response, Inc.                                                                   | Global Medical Response, Inc./Term Loan B 09/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   24939100 | PA      | $24832111.08   | 0.50%             | 2032-10-01      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| Churchill Opco Holdings LLC                                                                     | Churchill Opco Holdings LLC/Initial Term Loan 11/23                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1188282 | PA      | $1188282.36    | 0.02%             | 2029-11-09      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Churchill Opco Holdings LLC                                                                     | Churchill Opco Holdings LLC/Delayed Draw Term Loan 11/23                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2145543 | PA      | $2145543.35    | 0.04%             | 2029-11-09      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Churchill Opco Holdings LLC                                                                     | Churchill Opco Holdings LLC/Revolver 11/23                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     381282 | PA      | $381282.00     | 0.01%             | 2029-11-09      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Airx Climate Solutions, Inc.                                                                    | Airx Climate Solutions, Inc./Incremental Term Loan 11/23                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1482864 | PA      | $1482864.44    | 0.03%             | 2029-11-07      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| VPP Intermediate Holdings, LLC                                                                  | VPP Intermediate Holdings, LLC/Amendment No. 4 Delayed Draw Term Loan 3/24                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     333566 | PA      | $333566.16     | 0.01%             | 2027-12-01      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Airx Climate Solutions, Inc.                                                                    | Airx Climate Solutions, Inc./Revolver 11/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     463351 | PA      | $463351.00     | 0.01%             | 2029-11-07      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| Hills Distribution, Inc.                                                                        | Hills Distribution, Inc./Term Loan 11/23                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     487023 | PA      | $487022.89     | 0.01%             | 2029-11-08      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Hills Distribution, Inc.                                                                        | Hills Distribution, Inc./Delayed Draw Term Loan 11/23                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     310664 | PA      | $310663.94     | 0.01%             | 2029-11-08      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| North Star Acquisitionco, LLC                                                                   | North Star Acquisitionco, LLC/Multicurrency Sterling Term Loan 4/24                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     239158 | PA      | $313381.50     | 0.01%             | 2029-05-03      | Floating      | 8.22%                 | No            |                  3 | On Loan: No      |
| Kaseya Inc.                                                                                     | Kaseya Inc./TL 03/25                                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3002312 | PA      | $2795903.52    | 0.06%             | 2032-03-22      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Kaseya Inc.                                                                                     | Kaseya Inc./Second Lien Term Loan 03/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   45975000 | PA      | $36358409.25   | 0.74%             | 2033-03-21      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| TK Elevator Midco GmbH                                                                          | TK Elevator Midco GmbH/EUR Term Loan B 02/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DE        |    7125000 | PA      | $8172469.54    | 0.17%             | 2030-04-30      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Gula Buyer Inc.                                                                                 | Gula Buyer Inc./Initial Term Loan 10/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7924115 | PA      | $7924115.03    | 0.16%             | 2031-10-27      | Floating      | 8.18%                 | No            |                  3 | On Loan: No      |
| VPP Intermediate Holdings, LLC                                                                  | VPP Intermediate Holdings, LLC/Amendment No. 3 Delayed Draw Term Loan 7/23                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2550898 | PA      | $2550897.65    | 0.05%             | 2027-12-01      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| Spaceship Purchaser, Inc.                                                                       | Spaceship Purchaser, Inc./B Dollar Term Loan 9/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   16103876 | PA      | $16103876.24   | 0.33%             | 2031-10-17      | Floating      | 7.45%                 | No            |                  3 | On Loan: No      |
| Trident TPI Holdings, Inc.                                                                      | Trident TPI Holdings, Inc./Term Loan 10/24                                                                                    | CUSIP: 00216EAL3<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |   10425707 | PA      | $9857192.95    | 0.20%             | 2028-09-15      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| Raven Acquisition Holdings, LLC                                                                 | Raven Acquisition Holdings, LLC/Term Loan 10/24                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8943259 | PA      | $8762783.82    | 0.18%             | 2031-11-19      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Raven Acquisition Holdings, LLC                                                                 | Raven Acquisition Holdings, LLC/Delayed Draw Term Loan 10/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     643631 | PA      | $630642.95     | 0.01%             | 2031-11-19      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| CMG HoldCo, LLC                                                                                 | CMG HoldCo, LLC/Delayed Draw Term Loan 11/23                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2453740 | PA      | $2429202.15    | 0.05%             | 2030-11-19      | Floating      | 8.44%                 | No            |                  3 | On Loan: No      |
| Saturn Purchaser Corp.                                                                          | Saturn Purchaser Corp./Term Loan 07/22                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     220757 | PA      | $220756.59     | 0.00%             | 2030-07-22      | Floating      | 8.52%                 | No            |                  3 | On Loan: No      |
| Forza Insurance Holdings, LLC                                                                   | Forza Insurance Holdings, LLC/Term Loan 2/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5529907 | PA      | $5529907.28    | 0.11%             | 2030-02-27      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| BVI Medical, Inc.                                                                               | BVI Medical, Inc./Revolver 3/25                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1586478 | PA      | $1459559.76    | 0.03%             | 2032-03-08      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| LGDN Bidco Limited                                                                              | LGDN Bidco Limited/Unitranche Facility 11/22                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    2195462 | PA      | $2905895.85    | 0.06%             | 2028-12-08      | Floating      | 9.23%                 | No            |                  3 | On Loan: No      |
| Saturn Purchaser Corp.                                                                          | Saturn Purchaser Corp./Revolver 7/22                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      13618 | PA      | $13618.00      | 0.00%             | 2030-07-22      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BVI Medical, Inc.                                                                               | BVI Medical, Inc./Delayed Draw Term Loan 3/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     849936 | PA      | $781941.12     | 0.02%             | 2032-03-08      | Floating      | 9.66%                 | No            |                  3 | On Loan: No      |
| Omnigo Software, LLC                                                                            | Omnigo Software, LLC/Revolver 12/25                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      54890 | PA      | $54341.10      | 0.00%             | 2030-12-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BCC Blueprint Holdings I, LLC                                                                   | BCC Blueprint Holdings I, LLC/Incremental Term Loan 12/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    8872931 | PA      | $8872930.55    | 0.18%             | 2031-12-23      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| KNPC Holdco, LLC                                                                                | KNPC Holdco, LLC/Incremental Term Loan B-1 12/22                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     480540 | PA      | $480539.94     | 0.01%             | 2029-10-22      | Floating      | 10.52%                | No            |                  3 | On Loan: No      |
| BrightStar Group Holdings, Inc.                                                                 | BrightStar Group Holdings, Inc./Initial Term Loan 2/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3817124 | PA      | $3817124.13    | 0.08%             | 2032-03-01      | Floating      | 8.38%                 | No            |                  3 | On Loan: No      |
| BrightStar Group Holdings, Inc.                                                                 | BrightStar Group Holdings, Inc./Revolver 2/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     505432 | PA      | $505432.00     | 0.01%             | 2032-03-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| 22 HoldCo Limited                                                                               | 22 HoldCo Limited/Series A Note 7/23                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3745040 | PA      | $4956903.48    | 0.10%             | 2033-08-23      | Floating      | 11.55%                | No            |                  3 | On Loan: No      |
| OLIFAN GROUP PARTNERS                                                                           | OLIFAN GROUP PARTNERS/Initial Tranche Commitment 03/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    1089286 | PA      | $1259057.28    | 0.03%             | 2032-03-12      | Floating      | 8.37%                 | No            |                  3 | On Loan: No      |
| OLIFAN GROUP PARTNERS                                                                           | OLIFAN GROUP PARTNERS/Additional Tranche Commitment 03/25                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |     357143 | PA      | $412805.72     | 0.01%             | 2032-03-12      | Floating      | 8.37%                 | No            |                  3 | On Loan: No      |
| North Haven Fairway Buyer, LLC                                                                  | North Haven Fairway Buyer, LLC/Short-Term Delayed Draw Term C1 Loan 12/22                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     122909 | PA      | $122909.15     | 0.00%             | 2028-05-17      | Floating      | 8.69%                 | No            |                  3 | On Loan: No      |
| North Haven Fairway Buyer, LLC                                                                  | North Haven Fairway Buyer, LLC/Long-Term Delayed Draw Term C2 Loan 12/22                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      71380 | PA      | $71380.11      | 0.00%             | 2028-05-17      | Floating      | 8.69%                 | No            |                  3 | On Loan: No      |
| Optio Group Limited                                                                             | Optio Group Limited/ GBP Facility B 11/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     254386 | PA      | $336703.20     | 0.01%             | 2032-03-31      | Floating      | 10.48%                | No            |                  3 | On Loan: No      |
| Wilsonart LLC                                                                                   | WLSNRT 11.0% Sr Unsecured Nts due 2032 144A                                                                                   | CUSIP: 97246JAA6<br>LEI: 549300SAZRUMYKDJBY14 | Long             | DBT              | CORP              | US        |   12900000 | PA      | $9348769.32    | 0.19%             | 2032-08-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Optio Group Limited                                                                             | Optio Group Limited/ Acquisition Facility 1 11/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     197554 | PA      | $261480.83     | 0.01%             | 2032-03-31      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| HP RSS Buyer, Inc.                                                                              | HP RSS Buyer, Inc./Third Amendment Term Loan 12/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      70549 | PA      | $70549.00      | 0.00%             | 2029-12-11      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| HP RSS Buyer, Inc.                                                                              | HP RSS Buyer, Inc./Third Amendment Delayed Draw Term Loan 12/25                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1058228 | PA      | $1058228.00    | 0.02%             | 2029-12-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Radius Aerospace Europe Limited                                                                 | Radius Aerospace Europe Limited/U.K. Revolving Loan 11/19                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     372587 | PA      | $493153.44     | 0.01%             | 2027-03-29      | Floating      | 9.73%                 | No            |                  3 | On Loan: No      |
| N/A                                                                                             | Gapco Aiv Interholdco (CP), L.P.                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1729544 | PA      | $1729544.00    | 0.04%             | 2033-03-31      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| Oakbridge Insurance Agency LLC                                                                  | Oakbridge Insurance Agency LLC/Delayed Draw Term C Loan  12/25                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     631173 | PA      | $631173.00     | 0.01%             | 2029-11-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SageSure Holdings, LLC                                                                          | SageSure Holdings, LLC/Incremental Term Loan 12/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     534929 | PA      | $534929.00     | 0.01%             | 2030-01-28      | Floating      | 8.53%                 | No            |                  3 | On Loan: No      |
| Odevo AB                                                                                        | Odevo AB/ 2025 Additional ACF 09/25                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |     163765 | PA      | $189288.69     | 0.00%             | 2030-12-31      | Floating      | 8.49%                 | No            |                  3 | On Loan: No      |
| Proyectos Deportivos Forus, S.L.U.                                                              | Proyectos Deportivos Forus, S.L.U./ Unitranche Facility 09/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |     357752 | PA      | $413509.64     | 0.01%             | 2031-10-14      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Proyectos Deportivos Forus, S.L.U.                                                              | Proyectos Deportivos Forus, S.L.U./ Capex / Acquisition Facility 09/25                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |     142248 | PA      | $164418.14     | 0.00%             | 2031-10-14      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Cambrex Corporation                                                                             | Cambrex Corporation/Dollar Term Loan 3/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   36361721 | PA      | $36361720.78   | 0.74%             | 2032-03-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Cambrex Corporation                                                                             | Cambrex Corporation/Delayed Draw Term Loan 3/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5454397 | PA      | $5454397.00    | 0.11%             | 2032-03-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Cambrex Corporation                                                                             | Cambrex Corporation/Revolver 3/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5889207 | PA      | $5889207.00    | 0.12%             | 2032-03-05      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| OCP 2021-21                                                                                     | OCP 2021-21A SUB                                                                                                              | CUSIP: 670897AC1<br>LEI: 2549000M7NBNQ7XU2038 | Long             | ABS-O            | CORP              | KY        |    1480000 | PA      | $744721.20     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| JAMS Buyer LLC                                                                                  | JAMS Buyer LLC/Term Loan 6/25                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1996208 | PA      | $1996207.97    | 0.04%             | 2032-06-02      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| Colosseum Dental Finance BV                                                                     | Colosseum Dental Finance BV/EUR TLB B2-A 09/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    5995450 | PA      | $6919964.98    | 0.14%             | 2032-03-22      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Foundation Risk Partners, Corp.                                                                 | Foundation Risk Partners, Corp./Initial Term Loan 10/21                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   15434914 | PA      | $15434914.20   | 0.31%             | 2030-10-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Foundation Risk Partners, Corp.                                                                 | Foundation Risk Partners, Corp./Effective Date Delayed Draw Term Loan 10/21                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3365725 | PA      | $3365725.42    | 0.07%             | 2030-10-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Foundation Risk Partners, Corp.                                                                 | Foundation Risk Partners, Corp./Revolver 10/21                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3846654 | PA      | $3846654.19    | 0.08%             | 2029-10-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Telle Tire & Auto Service, LLC                                                                  | Telle Tire & Auto Service, LLC/Revolver 3/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      70290 | PA      | $70290.00      | 0.00%             | 2031-03-03      | Floating      | 8.38%                 | No            |                  3 | On Loan: No      |
| Telle Tire & Auto Service, LLC                                                                  | Telle Tire & Auto Service, LLC/Delayed Draw Term Loan 3/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     399971 | PA      | $399971.10     | 0.01%             | 2031-03-03      | Floating      | 8.40%                 | No            |                  3 | On Loan: No      |
| DuraServ LLC                                                                                    | DuraServ LLC/Delayed Draw Term Loan 3/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     228285 | PA      | $226002.24     | 0.00%             | 2031-06-10      | Floating      | 8.43%                 | No            |                  3 | On Loan: No      |
| Frontline Road Safety Operations, LLC                                                           | Frontline Road Safety Operations, LLC/Initial Term Loan 3/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   23624288 | PA      | $23388045.12   | 0.47%             | 2032-03-04      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Artivion, Inc.                                                                                  | Artivion, Inc./Second Amendment Delayed Draw Term Loan 9/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     727137 | PA      | $727136.62     | 0.01%             | 2031-01-21      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Frontline Road Safety Operations, LLC                                                           | Frontline Road Safety Operations, LLC/Delayed Draw Term Loan 3/25                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6931676 | PA      | $6862359.15    | 0.14%             | 2032-03-04      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Frontline Road Safety Operations, LLC                                                           | Frontline Road Safety Operations, LLC/Revolver 3/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5513159 | PA      | $5458027.41    | 0.11%             | 2032-03-04      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wharf Street Ratings Acquisition LLC                                                            | Wharf Street Ratings Acquisition LLC/Initial Term Loan 9/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1583032 | PA      | $1583032.00    | 0.03%             | 2032-09-16      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Wharf Street Ratings Acquisition LLC                                                            | Wharf Street Ratings Acquisition LLC/New Delayed Draw Term Loan 9/25                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     175892 | PA      | $175892.00     | 0.00%             | 2032-09-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wharf Street Ratings Acquisition LLC                                                            | Wharf Street Ratings Acquisition LLC/Revolver 9/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     216401 | PA      | $216401.00     | 0.00%             | 2032-09-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SageSure Holdings, LLC                                                                          | SageSure Holdings, LLC/Delayed Draw Term Loan 12/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     422313 | PA      | $422313.00     | 0.01%             | 2030-01-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Ardagh Holdings Sa                                                                              | Ardagh Holdings SA                                                                                                            | CUSIP: 985923101<br>LEI: 549300ORV6YW6ESSNQ21 | Long             | EC               | CORP              | US        |    1836906 | NS      | $14483395.30   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Spitfire Bidco Limited                                                                          | Spitfire Bidco Limited/Capex Facility 09/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    3203533 | PA      | $4240170.27    | 0.09%             | 2029-09-28      | Floating      | 10.89%                | No            |                  3 | On Loan: No      |
| KLLM 7                                                                                          | KLLM 7A SUB                                                                                                                   | CUSIP: 98625FAC9<br>LEI: 25490036G9JNQQPHIX69 | Long             | ABS-O            | CORP              | KY        |    4000000 | PA      | $969228.00     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Automotive Keys Group, LLC                                                                      | Automotive Keys Group, LLC/2022 Incremental Term Loan 12/22                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     201456 | PA      | $177280.88     | 0.00%             | 2026-08-06      | Floating      | 10.35%                | No            |                  3 | On Loan: No      |
| Novipax Buyer, L.L.C.                                                                           | Novipax Buyer, L.L.C./Incremental 1L Term Loan 12/22                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     243283 | PA      | $243283.23     | 0.00%             | 2026-12-01      | Floating      | 12.02%                | No            |                  3 | On Loan: No      |
| UserZoom Technologies, Inc.                                                                     | UserZoom Technologies, Inc./ 1L Term Loan 01/23                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     250742 | PA      | $225667.67     | 0.00%             | 2029-04-05      | Floating      | 11.17%                | No            |                  3 | On Loan: No      |
| Zenith Acquisitionco, LLC                                                                       | Zenith Acquisitionco, LLC/Initial Term Loan 12/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1340015 | PA      | $1326614.85    | 0.03%             | 2033-01-13      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| Zenith Acquisitionco, LLC                                                                       | Zenith Acquisitionco, LLC/Closing Date Delayed Draw Term Loan 12/25C                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     682506 | PA      | $675680.94     | 0.01%             | 2033-01-13      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| Zenith Acquisitionco, LLC                                                                       | Zenith Acquisitionco, LLC/Revolver 12/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     386898 | PA      | $383029.02     | 0.01%             | 2033-01-13      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Infinity Home Services HoldCo, Inc.                                                             | Infinity Home Services HoldCo, Inc./Amendment No. 1 Delayed Draw Term Loan 11/23                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1108743 | PA      | $1108743.44    | 0.02%             | 2028-12-28      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| Zayo Group Holdings, Inc.                                                                       | ZAYO 9.25% PIK 1st lien Nts due 2030 144A                                                                                     | CUSIP: 98919VAC9<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |   10249294 | PA      | $10189233.14   | 0.21%             | 2030-03-09      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Varsity Brands, Inc.                                                                            | Varsity Brands, Inc./Term Loan 09/25                                                                                          | CUSIP: 92227QAG1<br>LEI: 254900PLBJA0I5NSTT38 | Long             | LON              | CORP              | US        |    6910069 | PA      | $6873376.11    | 0.14%             | 2031-08-26      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Foundation Risk Partners, Corp.                                                                 | Foundation Risk Partners, Corp./Amendment No. 4 Delayed Draw Term Loan 11/23                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2372553 | PA      | $2372552.53    | 0.05%             | 2030-10-29      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Plutus Bidco Limited                                                                            | Plutus Bidco Limited/Unitranche Facility 3 12/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    7000000 | PA      | $9265141.92    | 0.19%             | 2029-09-21      | Floating      | 8.73%                 | No            |                  3 | On Loan: No      |
| Floss Bidco Limited                                                                             | Floss Bidco Limited/Facility B1 12/22                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     451272 | PA      | $573408.51     | 0.01%             | 2026-09-07      | Floating      | 9.56%                 | No            |                  3 | On Loan: No      |
| Floss Bidco Limited                                                                             | Floss Bidco Limited/Facility B2 12/22                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     360939 | PA      | $458626.97     | 0.01%             | 2026-09-07      | Floating      | 9.56%                 | No            |                  3 | On Loan: No      |
| EuroParcs Topholding B.V.                                                                       | EuroParcs Topholding B.V./Facility B3 03/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     633565 | PA      | $732309.73     | 0.01%             | 2029-07-31      | Floating      | 10.38%                | No            |                  3 | On Loan: No      |
| Edition Holdings, Inc.                                                                          | Edition Holdings, Inc./Initial Delayed Draw Term Loan 12/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     250254 | PA      | $245248.92     | 0.00%             | 2032-12-20      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| Unifi Aviation North America, LLC                                                               | Unifi Aviation North America, LLC/Initial Term Loan 3/24                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1995928 | PA      | $1995928.14    | 0.04%             | 2028-09-29      | Floating      | 8.82%                 | No            |                  3 | On Loan: No      |
| Coupa Holdings, LLC                                                                             | Coupa Holdings, LLC/Initial Term Loan 02/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     225161 | PA      | $217280.51     | 0.00%             | 2030-02-27      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Coupa Holdings, LLC                                                                             | Coupa Holdings, LLC/Revolver 02/23                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $965.00        | 0.00%             | 2029-02-27      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Drivecentric Holdings, LLC                                                                      | Drivecentric Holdings, LLC/Initial Term Loan 8/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3671861 | PA      | $3671861.00    | 0.07%             | 2031-08-15      | Floating      | 8.19%                 | No            |                  3 | On Loan: No      |
| Drivecentric Holdings, LLC                                                                      | Drivecentric Holdings, LLC/Revolver 8/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     517554 | PA      | $517554.00     | 0.01%             | 2031-08-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Sterilex LLC                                                                                    | Sterilex LLC/Term Loan 9/25                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     219303 | PA      | $219303.37     | 0.00%             | 2030-09-19      | Floating      | 8.94%                 | No            |                  3 | On Loan: No      |
| Sterilex LLC                                                                                    | Sterilex LLC/Revolver 9/25                                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |       1000 | PA      | $1000.00       | 0.00%             | 2030-09-19      | Floating      | 7.44%                 | No            |                  3 | On Loan: No      |
| Flexera Software LLC                                                                            | Flexera Software LLC/Term Loan 12/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3187533 | PA      | $3123782.34    | 0.06%             | 2032-08-16      | Floating      | 8.15%                 | No            |                  3 | On Loan: No      |
| North Star Acquisitionco, LLC                                                                   | North Star Acquisitionco, LLC/Multicurrency USD Term Loan 4/24                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2121154 | PA      | $2099942.58    | 0.04%             | 2029-05-03      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| North Star Acquisitionco, LLC                                                                   | North Star Acquisitionco, LLC/Multicurrency Krone Term Loan 4/24                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5241662 | PA      | $535918.50     | 0.01%             | 2029-05-03      | Floating      | 8.61%                 | No            |                  3 | On Loan: No      |
| North Star Acquisitionco, LLC                                                                   | North Star Acquisitionco, LLC/Multicurrency Revolver 4/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     621162 | PA      | $614950.38     | 0.01%             | 2029-05-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| OCP 2022-24                                                                                     | OCP 2022-24A SUB                                                                                                              | CUSIP: 67119NAC0<br>LEI: 254900KJTZSIMELS6Y52 | Long             | ABS-O            | CORP              | KY        |    1710000 | PA      | $758143.89     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Goldman Sachs                                                                                   | Receive SOFR / Pay 6.35 07/03/2029                                                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |          1 | NC      | $918013.46     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| OAKC 2015-11                                                                                    | OAKC 2015-11A SUB                                                                                                             | CUSIP: 67109HAE1<br>LEI: 549300OYGEU6QQMCEG78 | Long             | ABS-O            | CORP              | KY        |     500000 | PA      | $214610.50     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OKANAGAN 2024-1                                                                                 | OKANAGAN 2024-1 Series A CLN Due 2033                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |   11868265 | PA      | $11452875.73   | 0.23%             | 2032-12-20      | Fixed         | 10.80%                | No            |                  3 | On Loan: No      |
| Goldman Sachs                                                                                   | Receive SOFR / Pay 6.25 06/07/2027                                                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |          1 | NC      | $850590.97     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs                                                                                   | Receive SOFR / Pay 6.35 06/07/2029                                                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |          1 | NC      | $899641.61     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Arko Corp                                                                                       | ARKO US Common Stock                                                                                                          | CUSIP: 041242108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        106 | NS      | $589.36        | 0.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| BCC Blueprint Investments, LLC                                                                  | BCC Blueprint Investments, LLC/Promissory Note 9/21                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |     916397 | PA      | $916396.79     | 0.02%             | 2026-09-15      | Fixed         | 9.30%                 | Yes           |                  3 | On Loan: No      |
| Aventine Holdings II LLC                                                                        | Aventine Holdings II LLC/PIK Notes 12/21                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   16355119 | PA      | $12593441.79   | 0.26%             | 2030-12-23      | Fixed         | 5.12%                 | No            |                  3 | On Loan: No      |
| Practicetek Midco, LLC                                                                          | Practicetek Midco, LLC/Holdco PIK Note 8/23                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   11194699 | PA      | $11194698.79   | 0.23%             | 2030-08-30      | Fixed         | 14.00%                | No            |                  3 | On Loan: No      |
| RRAM 2021-19                                                                                    | RRAM 2021-19A SUB                                                                                                             | CUSIP: 74983BAC5<br>LEI: 549300RJ4N2AJDFNE876 | Long             | ABS-O            | CORP              | KY        |    1226244 | PA      | $816327.80     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDPK 2015-17                                                                                    | MDPK 2015-17X SUB                                                                                                             | CUSIP: BCC295FN9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    3660000 | PA      | $252909.66     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| CAIF 1                                                                                          | CAIF 1A E                                                                                                                     | CUSIP: BCC3NC507<br>LEI: 635400IBLLJ9RCTGJN46 | Long             | ABS-MBS          | CORP              | IE        |    7861000 | PA      | $10343043.74   | 0.21%             | 2035-08-17      | Floating      | 9.50%                 | Yes           |                  3 | On Loan: No      |
| CAIF 1                                                                                          | CAIF 1A F                                                                                                                     | CUSIP: BCC3NC515<br>LEI: 635400IBLLJ9RCTGJN46 | Long             | ABS-MBS          | CORP              | IE        |    2829000 | PA      | $3670948.78    | 0.07%             | 2035-08-17      | Floating      | 10.90%                | Yes           |                  3 | On Loan: No      |
| Antenore Bidco SpA                                                                              | ANTEN Fltg Nts due 2030 REGS                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | IT        |    4850000 | PA      | $5605899.49    | 0.11%             | 2030-10-08      | Fixed         | 8.78%                 | No            |                  3 | On Loan: No      |
| MRI Software LLC                                                                                | MRI Software LLC/Tranche B Term 02/20                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    7341214 | PA      | $7267801.60    | 0.15%             | 2028-02-10      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Confirmasoft AB                                                                                 | Confirmasoft AB/ Unitranche Facility / 05/21                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SE        |    1994624 | PA      | $2305497.20    | 0.05%             | 2027-06-03      | Floating      | 8.05%                 | No            |                  3 | On Loan: No      |
| MASCO GROUP S.P.A.                                                                              | MASCO GROUP S.P.A. Senior Secured Floating Rate Original Notes due 2031                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | IT        |    2062614 | PA      | $2384083.87    | 0.05%             | 2031-12-12      | Fixed         | 8.73%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs & Co. LLC                                                                         | CDX.NA.HY S43 Tranche 15-25 12/20/29                                                                                          | CUSIP: CXPHYS431<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |          1 | NC      | $-609576.17    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Air Medical Buyer Corp                                                                          | Air Medical Warrants                                                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |        122 | NC      | $3422.51       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CC Fly Holding II A/S                                                                           | CC Fly Holding II A/S/Unitranche Facility A 04/18                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |    3722734 | PA      | $535504.31     | 0.01%             | 2026-05-08      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| CC Fly Holding II A/S                                                                           | CC Fly Holding II A/S/Unitranche Facility B 04/18                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |    3812564 | PA      | $548426.15     | 0.01%             | 2026-05-08      | Floating      | 9.92%                 | No            |                  3 | On Loan: No      |
| Plaskolite PPC Blocker LLC                                                                      | Plaskolite PPC Blocker LLC/Co-Invest Units                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         10 | NS      | $24.71         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Fastsigns Holdings Inc.                                                                         | Fastsigns Holdings Inc./Common Stock 3/19                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $97585.54      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Peachtree Parent, Inc.                                                                          | Peachtree Parent, Inc./Series A Preferred Shares                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         25 | NS      | $63366.12      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Insight PDI Holdings, LLC                                                                       | Insight PDI Holdings, LLC Class A Units                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      26548 | NS      | $35913.38      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| H&F Unite Partners, L.P.                                                                        | H&F Unite Partners, L.P./Limited Partnership Interests 4/19                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      50032 | NS      | $87124.29      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cority Parent, Inc.                                                                             | Cority Parent, Inc./Class A-1 Common Shares 6/19                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | CA        |         50 | NS      | $193003.71     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cority Parent, Inc.                                                                             | Cority Parent, Inc./Class B-1 Common Shares 6/19                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |      47536 | NS      | $1975.68       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KNPAK Holdings, LP                                                                              | KNPAK Holdings, LP/Class A Units 7/19                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     100000 | NS      | $123604.50     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EZ Elemica Holdings, Inc.                                                                       | EZ Elemica Holdings, Inc./Preferred Equity 9/19                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         50 | NS      | $54730.82      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Olympia TopCo, L.P.                                                                             | Olympia TopCo, L.P./Class A Units 9/19                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      50000 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DRS Holdings I, Inc.                                                                            | DRS Holdings I, Inc./Common Stock 11/19                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $54328.36      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| APG Holdings, LLC                                                                               | APG Holdings, LLC/Class A Units 1/20                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      50000 | NS      | $32122.85      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Astorg VII Co-Invest ERT                                                                        | Astorg VII Co-Invest ERT/Limited Partnership Interests 1/20                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    1208500 | NS      | $3017757.87    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OMERS Wildcats Investment Holdings LLC                                                          | OMERS Wildcats Investment Holdings LLC/Class A Units 1/20                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        216 | NS      | $113895.83     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RC V Tecmo Investor LLC                                                                         | RC V Tecmo Investor LLC/Common Equity 8/20                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      50000 | NS      | $93321.75      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cardinal Topco Holdings, LP                                                                     | Cardinal Topco Holdings, L.P./Class A Units 9/20                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         83 | NS      | $199039.56     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Magic Topco, L.P.                                                                               | Project Magic L.P./Class B Units                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      12975 | NS      | $51901.16      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Magic Topco, L.P.                                                                               | Project Magic L.P./Class A Units                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         37 | NS      | $37693.41      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aragorn Parent Holdings LP                                                                      | Aragon Parent Holdings LP/Parent Holdco Series A Preferred Units                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      50000 | NS      | $139881.20     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Automotive Keys Investor, LLC                                                                   | Automotive Keys Investor, LLC/Preferred Units                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      37749 | NS      | $3437.82       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Automotive Keys Investor, LLC                                                                   | Automotive Keys Investor, LLC/Class A Common Units 11/20                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      62749 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Highline PPC Blocker LLC                                                                        | Highline PPC Blocker LLC/Common Units                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        500 | NS      | $107792.27     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Capstone Parent Holdings, LP                                                                    | Capstone Parent Holdings, LP/Class A Units                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $90148.43      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Packers Software Intermediate Holdings, Inc.                                                    | Packers Software Intermediate Holdings, Inc./Series A Preferred Shares                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         50 | NS      | $80715.02      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OMERS Mahomes Investment Holdings LLC                                                           | OMERS Mahomes Investment Holdings LLC/Class A Units                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         16 | NS      | $65921.35      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Skywalker TopCo, LLC                                                                            | Skywalker TopCo, LLC/Units                                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      25407 | NS      | $104473.71     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Novipax Parent Holding Company, L.L.C.                                                          | Novipax Parent Holding Company, L.L.C./Class C Units                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Novipax Parent Holding Company, L.L.C.                                                          | Novipax Parent Holding Company, L.L.C./Class A Units                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         50 | NS      | $39685.81      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Dynamic NC Investment Holdings, LP                                                              | Dynamic NC Investment Holdings, LP/Common Units                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      50000 | NS      | $90945.70      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Packers Software Intermediate Holdings, Inc.                                                    | Packers Software Intermediate Holdings, Inc./Series A-2 Preferred Shares                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         18 | NS      | $28707.39      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sera 2021 LLC                                                                                   | Sera 2021 LLC Class A Equity                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          4 | NS      | $146800.56     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Ferrellgas, L.P.                                                                                | Ferrellgas, L.P./Senior Preferred Units 3/21                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       8898 | NS      | $10178813.51   | 0.21%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Diligent Preferred Issuer, Inc.                                                                 | Diligent Preferred Issuer, Inc./Perpetual Preferred Stock                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       1476 | NS      | $2335624.04    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EQT IX Co-Investment (E) SCSP                                                                   | EQT IX Co-Investment (E) SCSP/Limited Partnership Interests                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       5000 | NS      | $97256.34      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series C Common Units 4/21                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     563740 | NS      | $1485751.88    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A Common Units 4/21                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      88605 | NS      | $233521.37     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Bedrock Parent Holdings, LP                                                                     | Bedrock Parent Holdings, LP/Class A Units 4/21                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        644 | NS      | $54106.02      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Metis Holdco, Inc.                                                                              | Metis Holdco, Inc./Class A Preferred Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       7959 | NS      | $11892307.15   | 0.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Metis Topco, LP                                                                                 | Metis Topco, LP/Common Stock                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $108895.63     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KCAKE Holdings Inc.                                                                             | KCAKE Holdings Inc./Common Stock 5/21                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $86726.69      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DCert Preferred Holdings, Inc.                                                                  | DCert Preferred Holdings, Inc./Series A Preferred Shares                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      22284 | NS      | $26416545.87   | 0.54%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Destiny Digital Holdings, L.P.                                                                  | Destiny Digital Holdings, L.P./Common Stock                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       3076 | NS      | $45080.89      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Consilio Investment Holdings, L.P.                                                              | Consilio Investment Holdings, L.P./Common Units                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       5038 | NS      | $80814.67      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Repairify Holdings, LLC                                                                         | Repairify Holdings, LLC/Class A Common Units                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       1655 | NS      | $29258.53      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GSV PracticeTek Holdings, LLC                                                                   | GSV PracticeTek Holdings, LLC/Class A Units 3/21                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     269272 | NS      | $236350.89     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Marcone Yellowstone Holdings, LLC                                                               | Marcone Yellowstone Holdings, LLC/Class A Units                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         96 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Shur-Co HoldCo, Inc.                                                                            | Shur-Co HoldCo, Inc./Common Stock                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        500 | NS      | $115330.66     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Laboratories Topco LLC                                                                          | Laboratories Topco LLC/Class A Units                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      33333 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Olympia TopCo, L.P.                                                                             | Olympia TopCo, L.P./Preferred Units 7/21                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       2184 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RMCF V CIV XLIV, L.P.                                                                           | RMCF V CIV XLIV, L.P./Limited Partner Interests                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         54 | NS      | $9215.13       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PSP Registrar Co-Investment Fund, L.P.                                                          | PSP Registrar Co-Investment Fund, L.P./Class A Common Units                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $46091.44      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sun TopCo, LP                                                                                   | Sun TopCo, LP/Class A Units                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       1000 | NS      | $140902.89     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KKR Nest Co-Invest L.P.                                                                         | KKR Nest Co-Invest L.P./Limited Partnership Interests                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      50000 | NS      | $66720.80      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Ordinary Shares                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    1310564 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Class A Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3400700 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Class B Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3400700 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Class C Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3400700 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Class D Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3400700 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Class E Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3400700 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Class F Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3400700 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Class G Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3400700 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Class H Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3400700 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Class I Shares                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3400700 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BCC Blueprint Investments, LLC                                                                  | BCC Blueprint Investments, LLC/Common Units                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     921829 | NS      | $1907152.25    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cobalt Holdings I, LP                                                                           | Cobalt Holdings I, LP/Class A Common Units                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        500 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cobalt Intermediate I, Inc.                                                                     | Cobalt Intermediate I, Inc./Series A Preferred Shares                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       8582 | NS      | $14944613.63   | 0.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cobalt Holdings I, LP                                                                           | Cobalt Holdings I, LP/Preferred Units                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         50 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ZBS Mechanical Group Co-Invest Fund 2, LLC                                                      | ZBS Mechanical Group Co-Invest Fund 2, LLC/Common Units                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      50000 | NS      | $137294.14     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Stonecourt IV Partners LP                                                                       | StoneCourt IV Partners LP/Limited Partnership Interests                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    2423676 | NS      | $1189680.75    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sunshine Software Holdings, Inc.                                                                | Sunshine Software Holdings, Inc./Class A-1 Common Stock                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       5000 | NS      | $56426.93      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sunshine Software Holdings, Inc.                                                                | Sunshine Software Holdings, Inc./Series A Preferred Shares                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      15929 | NS      | $17162400.02   | 0.35%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Packers Software Intermediate Holdings, Inc.                                                    | Packers Software Intermediate Holdings, Inc./Series A-3 Preferred Shares                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         24 | NS      | $33911.80      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VPP Group Holdings, L.P.                                                                        | VPP Group Holdings, L.P./Common Equity 11/21                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $62339.18      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Symplr Software Intermediate Holdings, Inc.                                                     | Symplr Software Intermediate Holdings, Inc./Series C-1 Preferred Shares                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         50 | NS      | $61154.75      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Symplr Software Intermediate Holdings, Inc.                                                     | Symplr Software Intermediate Holdings, Inc./Series C-2 Preferred Shares                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       5980 | NS      | $6934338.13    | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Symplr Software Intermediate Holdings, Inc.                                                     | Symplr Software Intermediate Holdings, Inc./Series C-3 Preferred Shares                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        789 | NS      | $883796.69     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PPC CHG Blocker LLC                                                                             | PPC CHG Blocker LLC/Common Stock 12/21                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          1 | NS      | $83333.30      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RMS Group Holdings, Inc.                                                                        | RMS Group Holdings, Inc./Common Stock 12/21                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          6 | NS      | $12625.56      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CDI Holdings I Corp.                                                                            | CDI Holdings I Corp./Common Stock 12/21                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $19687.05      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ASP-r-pac Holdings LP                                                                           | ASP-r-pac Holdings LP/Class A Units 12/21                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        514 | NS      | $46496.08      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BCPE Co-Invest (A), LP                                                                          | BCPE Co-Invest (A), LP/Class A Common Stock                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      45000 | NS      | $58808.07      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Asclepius Holdings LLC                                                                          | Asclepius Holdings LLC/Common Units                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        448 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Olympia Acquisition, Inc.                                                                       | Olympia Acquisition, Inc./Preferred Units                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        472 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Crown CT HoldCo Inc.                                                                            | Crown CT HoldCo Inc./Class A Common Stock                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          5 | NS      | $58073.52      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-1 Preferred Units                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    3898354 | NS      | $6360585.18    | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-2 Preferred Units                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     789494 | NS      | $1270973.88    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-3 Preferred Units                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     389813 | NS      | $623048.82     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-4 Preferred Units                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    1480301 | NS      | $2345769.47    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-5 Preferred Units                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     347693 | NS      | $546517.61     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-6 Preferred Units                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     660616 | NS      | $1029922.92    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-7 Preferred Units                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     938771 | NS      | $1439710.19    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Crown CT Management LLC                                                                         | Crown CT Management LLC/Common Units                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          1 | NS      | $9424.50       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TVG-TMG Holdings, LLC                                                                           | TVG-TMG Holdings, LLC/Common Units 3/22                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $16487.24      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TVG-TMG Holdings, LLC                                                                           | TVG-TMG Holdings, LLC/Series A Preferred Units 3/22                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         50 | NS      | $49851.62      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Monolith Brands Group, Inc.                                                                     | Monolith Brands Group, Inc./Series A Preferred Stock 4/22                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     192811 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Magnesium Co- Invest SCSp                                                                       | Magnesium Co- Invest SCSp/Common Stock 5/22                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |          5 | NS      | $58341.44      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Illinois Investment S.a.r.l.                                                                    | Illinois Investment S.a.r.l./Account 115                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |     106292 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CMG Buyer Holdings, Inc.                                                                        | CMG Buyer Holdings. Inc./Common Stock                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          5 | NS      | $87228.18      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Network Investco BV                                                                             | Network Investco B.V./Ordinary Shares 06/22                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NL        |    1073830 | NS      | $2978861.71    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Knockout Intermediate Holdings I Inc.                                                           | Knockout Intermediate Holdings I Inc./Preferred Stock                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       4005 | NS      | $5715657.91    | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Gotham Greens Holdings, PBC                                                                     | Gotham Greens Holdings, PBC/Series E-1 Preferred Stock                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      76779 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WSHP FC Holdings LLC                                                                            | WSHP FC Holdings LLC/Common Units                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        374 | NS      | $6166.28       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Galileo Co-Investment Trust I                                                                   | Galileo Co-Investment Trust I/Common Stock                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NZ        |      50000 | NS      | $39336.83      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Consilio Investment Holdings, L.P.                                                              | Consilio Investment Holdings, L.P./Series A Common Units                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        243 | NS      | $3900.40       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Elliott Alto Co-Investor Aggregator L.P.                                                        | Elliott Alto Aggregator GP LLC/Common Units                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     500000 | NS      | $1333059.00    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Elliott Metron Co-Investor Aggregator L.P.                                                      | Elliott Metron Co-Investor Aggregator L.P. / Limited Interest Partners                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    1000000 | NS      | $1837959.00    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LJ Perimeter Co-Invest, L.P.                                                                    | LJ Perimeter Co-Invest, L.P./Class A Units 10/22                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      50052 | NS      | $37685.68      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-8 Preferred Units                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     409637 | NS      | $573780.18     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Neovia Acquisition, LLC                                                                         | Neovia Acquisition, LLC/Class B Preferred                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        718 | NS      | $1104037.44    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Neovia Acquisition, LLC                                                                         | Neovia Acquisition, LLC/Common Stock                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          6 | NS      | $0.00          | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| INSZ Holdings, LLC                                                                              | INSZ Holdings, LLC/Common Equity 11/22                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      31139 | NS      | $58967.30      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-9 Preferred Units                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      97533 | NS      | $136356.55     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Family First Bidco Limited                                                                      | Family First Bidco Limited/A Ordinary Shares 12/22                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |        176 | NS      | $9868.86       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Family First Bidco Limited                                                                      | Family First Bidco Limited/Preference Shares 12/22                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | GB        |      20838 | NS      | $27581.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-10 Preferred Units                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     253585 | NS      | $351272.01     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Leviathan Holdings, L.P.                                                                        | Leviathan Holdings, L.P./Limited Partnership Interests 12/22                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      38000 | NS      | $51194.40      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IHS Parent Holdings, L.P.                                                                       | IHS Parent Holdings, L.P./Class A Common Equity Units 12/22                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      25000 | NS      | $27104.40      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-11 Preferred Units                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     331611 | NS      | $457102.08     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aquarian Peninsula Holdings LLC                                                                 | Aquarian Peninsula Holdings LLC / Preferred Stock                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   35481024 | NS      | $46279709.24   | 0.94%             |  |  |  | Yes           |                  3 | On Loan: No      |
| REP WWP Coinvest IV, L.P.                                                                       | REP WWP Coinvest IV, L.P. / Common Equity 01/23                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      25000 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PestCo Holdings, LLC                                                                            | PestCo Holdings, LLC/Class A Units 01/23                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          2 | NS      | $45501.89      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-12 Preferred Units                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     702235 | NS      | $959435.38     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Automotive Keys Investor, LLC                                                                   | Automotive Keys Investor, LLC/Preferred Units 2                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      25000 | NS      | $2276.78       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VPP Group Holdings, L.P.                                                                        | VPP Group Holdings, L.P./Class A2 Units 03/23                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          0 | NS      | $372.79        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KOLN Co-Invest Unblocked, LP                                                                    | KOLN Co-Invest Unblocked, LP/Class A Common Equity                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $89306.81      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Eagle Football Holdings Limited                                                                 | Eagle Football Holdings Limited/Ordinary Shares                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |         14 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-13 Preferred Units                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     214572 | NS      | $287726.78     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GS SEER Group Holdings LLC                                                                      | GS SEER Group Holdings LLC/Class A Common Units 04/23                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         25 | NS      | $7989.36       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Northwinds Services Group LLC                                                                   | Northwinds Services Group LLC/Common Units 05/23                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      60684 | NS      | $86504.21      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Restaurant Produce and Services Blocker, LLC                                                    | Restaurant Produce and Services Blocker, LLC/Tranche B 05/23                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      50000 | NS      | $40820.35      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Silk Holdings I Corp.                                                                           | Silk Holdings I Corp./Common Stock 05/23                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        228 | NS      | $603566.83     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Isthmus Capital LLC                                                                             | Isthmus Capital LLC / DDTL Upside Participation 5/23                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         11 | NS      | $62499.43      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Bobcat Topco, L.P.                                                                              | Bobcat Topco, L.P./Class A-1 Units                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      56770 | NS      | $47515.67      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WAAM Topco, LLC                                                                                 | WAAM Topco, LLC / Class A Units                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      45831 | NS      | $171756.27     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-14 Preferred Units                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     136546 | NS      | $178692.93     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street HoldCo LLC                                                                          | High Street HoldCo LLC/Series A-15 Preferred Units                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     711315 | NS      | $928878.92     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| League One Volleyball, Inc.                                                                     | League One Volleyball, Inc./Series B Preferred Stock                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        194 | NS      | $3631.26       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ASE Royal Aggregator, LLC                                                                       | ASE Royal Aggregator, LLC/Class A Preferred 8/23                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    1646000 | NS      | $2212647.02    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OMERS Wildcats Investment Holdings LLC                                                          | OMERS Wildcats Investment Holdings LLC/Class A Preferred Unit 8/23                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         19 | NS      | $10064.12      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GTCR (D) Investors LP                                                                           | GTCR (D) Investors LP/Limited Partners Interest                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      39339 | NS      | $90545.13      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| City Line Investments LLC                                                                       | City Line Investments LLC/Class A Units 8/23                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      30038 | NS      | $29379.23      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Kelso XI Tailwind Co-Investment, L.P.                                                           | Kelso XI Tailwind Co-Investment, L.P./Limited Partner Interests                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      48023 | NS      | $86411.05      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CFCo, LLC                                                                                       | CFCo, LLC/Class B Units                                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    5035395 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Activate holdings (US) Corp.                                                                    | Crosspoint Capital AS SPV, LP/Preferred Equity 07/23                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      50000 | NS      | $69303.55      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Apex Service Partners Holdings, LLC                                                             | Apex Service Partners Holdings, LLC/Series B Common Units 10/23                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      44263 | NS      | $2018218.63    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Plaskolite PPC Blocker LLC                                                                      | Plaskolite PPC Blocker LLC/Preferred Units 10/23                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |          1 | NS      | $134.77        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WCI-BXC Investment Holdings, L.P.                                                               | WCI-BXC Investment Holdings, LP/Common Equity 11/23                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     126000 | NS      | $109532.43     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Maple Acquisition Holdings, LP                                                                  | Maple Acquisition Holdings, LP/Class A2 Units 11/23                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      13871 | NS      | $326960.32     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Vertex Service Partners Holdings, LLC                                                           | Vertex Service Partners Holdings, LLC/Class B Common Units 11/23                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         33 | NS      | $25285.50      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GMP Hills, LP                                                                                   | GMP Hills, LP/Limited Partnership Interest 11/23                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     611000 | NS      | $921075.17     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Victory Topco, LP                                                                               | Victory Topco, LP/Class A-2 Common Equity 11/23                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       2510 | NS      | $691478.89     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AVE Holdings LP                                                                                 | AVE Holdings LP/Class C Units 11/23                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        983 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INSZ Holdings, LLC                                                                              | INSZ Holdings, LLC/Common Equity 11/23                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    1073000 | NS      | $2031930.44    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PerkinElmer Topco GP, L.L.C.                                                                    | PerkinElmer Topco GP, L.L.C./Class A-2 Units                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        365 | NS      | $54225.68      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Constellation Wealth Capital Fund, L.P.                                                         | Constellation Wealth Capital Fund, L.P./Limited Partner Interests                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     641392 | NS      | $635296.21     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PCS Parent, L.P.                                                                                | PCS Parent, L.P./Class A Units 1/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      80000 | NS      | $79596.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 6DG TOPCO LIMITED                                                                               | 6DG TOPCO LIMITED/Priority Shares 01/24                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | GB        | 1371829990 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Centric Brands L.P.                                                                             | Centric Brands L.P./Class A LP Interests 2/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      21364 | NS      | $323422.33     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Mars Downstop Loan Purchaser Trust                                                              | MARS DOWNSTOP LOAN PURCHASER TRUST / Class A Beneficial Interest                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    9696876 | NS      | $3280356.27    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rocket Co-Invest, SLP                                                                           | Rocket Co-Invest, SLP/Common Equity 2/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |     188027 | NS      | $254748.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AVE Holdings LP                                                                                 | AVE Holdings LP/Class A Units 2/24                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        402 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| UPBW Blocker, LLC                                                                               | UPBW Blocker, LLC/Common Units 3/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       4700 | NS      | $572625.75     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KBS Topco, LLC                                                                                  | KBS Topco, LLC/Class A Common Units 3/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     901730 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KBS Topco, LLC                                                                                  | KBS Topco, LLC/Preferred Units 3/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     901730 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CWC Fund I Co-Invest (Prism) LP                                                                 | CWC Fund I Co-Invest (Prism) LP/Common Stock 3/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    2374000 | NS      | $2828051.24    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CWC Fund I Co-Invest (AlTi) LP                                                                  | CWC Fund I Co-Invest (AlTi) LP/Common Equity 3/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    3276000 | NS      | $3987963.25    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Meyer Parent, LLC                                                                               | Meyer Parent, LLC/Common Equity 3/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      12000 | NS      | $7264.74       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Tikehau Ruby CLO Equity LP                                                                      | Tikehau Ruby CLO Equity LP / Preferred Stock                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    3054220 | NS      | $827095.33     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SuperMoose NewCo, Inc.                                                                          | SuperMoose NewCo, Inc./Series A Preferred Stock 4/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      17961 | NS      | $23957515.99   | 0.49%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sandlot Action Sports, LLC                                                                      | Sandlot Action Sports, LLC/Common Stock 4/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       3384 | NS      | $33709.50      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OPH NEP Investment, LLC                                                                         | OPH NEP Investment, LLC/Class B Common Units 5/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          2 | NS      | $849429.51     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GMR Buyer Corp.                                                                                 | GMR Buyer Corp./Series B Preferred Shares 5/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      10550 | NS      | $13884108.40   | 0.28%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WSC Ultimate Holdings, LLC                                                                      | WSC Ultimate Holdings, LLC/Class A Common Units 5/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         95 | NS      | $45491.73      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WSC Ultimate Holdings, LLC                                                                      | WSC Ultimate Holdings, LLC/Class A Preferred Units 5/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       1020 | NS      | $122463.37     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GB Helios Holdings, L.P.                                                                        | GB Helios Holdings, L.P/Series A Common Units 5/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         59 | NS      | $115274.70     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Wellington TopCo LP                                                                             | Wellington TopCo LP/Class A-2 Preferred Units 6/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     143000 | NS      | $169249.51     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KKR Game Changer Co-Invest Feeder II L.P.                                                       | KKR Game Changer Co-Invest Feeder II L.P./Common Equity 6/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     467000 | NS      | $560310.80     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Tikehau Topaz LP                                                                                | Tikehau Topaz LP / Preferred Stock                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    2640648 | NS      | $1815181.44    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Linden Structured Capital Fund II-A LP                                                          | Linden Structured Capital Fund II-A LP/Limited Partnership Interests 6/24                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     496650 | NS      | $647082.36     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SEP Diamond Fund, L.P.                                                                          | SEP Diamond Fund, L.P./Limited Partnership Interests 6/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    2337086 | NS      | $4130970.11    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Royal Parent, LP                                                                                | Royal Parent, LP/Class A Units 7/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     293000 | NS      | $304264.68     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LBC Woodlands Holdings LP                                                                       | LBC Woodlands Holdings LP/Class A-1 7/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     108000 | NS      | $70100.10      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Meaningful Partners Fitness Ventures Co-Investment LP                                           | Meaningful Partners Fitness Ventures Co-Investment LP/Common Stock 7/24                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     686000 | NS      | $816984.84     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| QUINTAIN INVESTMENTS HOLDINGS LIMITED                                                           | QUINTAIN INVESTMENTS HOLDINGS LIMITED/B Ordinary Shares 08/24                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JE        |      40631 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| QUINTAIN INVESTMENTS HOLDINGS LIMITED                                                           | QUINTAIN INVESTMENTS HOLDINGS LIMITED/B1 Preference Shares 08/24                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | JE        |   29040422 | NS      | $44653519.14   | 0.91%             |  |  |  | Yes           |                  3 | On Loan: No      |
| New Insight Holdings, Inc.                                                                      | New Insight Holdings, Inc./Common Shares 7/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       1788 | NS      | $13637.55      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WP Victors Co-Investment, L.P.                                                                  | WP Victors Co-Investment, L.P./Partnership Units 8/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     904163 | NS      | $2119277.40    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Paradigmatic Holdco LLC                                                                         | Paradigmatic Holdco LLC/Common Units 8/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    1057325 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Wellington-Altus Financial Inc.                                                                 | Wellington-Altus Financial Inc./Purchased Shares 8/24                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |      74001 | NS      | $4319517.79    | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs, Inc./E-5 Preferred Stock 8/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      59428 | NS      | $312791.49     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Endeavor TopCo, Inc.                                                                            | Endeavor TopCo, Inc./Class A Common Stock 8/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        323 | NS      | $525057.87     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Drogon Aggregator LP                                                                            | Drogon Aggregator LP/Class A-2 Unit 8/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     186000 | NS      | $256948.21     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Stadium Coinvest (B)-III, L.P.                                                                  | Stadium Coinvest (B)-III, L.P./Common Equity 2/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     650000 | NS      | $748720.05     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HPCC Parent, Inc.                                                                               | HPCC Parent, Inc./Parent Stock 9/24                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     148775 | NS      | $1410387.02    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Eclipse Investor Parent, L.P.                                                                   | Eclipse Investor Parent, L.P./Class A Common Stock 9/24                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        102 | NS      | $91033.65      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Eclipse Topco, Inc.                                                                             | Eclipse Topco, Inc./Preferred Stock 9/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        118 | NS      | $1386202.22    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GCM HVAC TOPCO, LLC                                                                             | GCM HVAC TOPCO, LLC Class A Units (Airtron)                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     756697 | NS      | $889489.84     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| League One Volleyball, Inc.                                                                     | League One Volleyball, Inc./Series C Preferred Stock 9/24                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         67 | NS      | $951.38        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| UPBW Blocker, LLC                                                                               | UPBW Blocker, LLC/Class Ares Common Units 9/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        304 | NS      | $37097.90      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Mustang Prospects Holdco, LLC                                                                   | Mustang Prospects Holdco, LLC/Class B Units 9/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      54103 | NS      | $23209.21      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Mustang Prospects Holdco, LLC                                                                   | Mustang Prospects Holdco, LLC/Class A Units 9/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         54 | NS      | $55256.86      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BPCP Pinnacle Holdings, Inc.                                                                    | BPCP Pinnacle Holdings, Inc./Common Stock 9/24                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        189 | NS      | $11921.26      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MidOcean CLO Equity Fund I, LP                                                                  | MidOcean CLO Equity Fund I, LP / Class A Equity Interest 10/24                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   24673230 | NS      | $24673230.00   | 0.50%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Dundee Eros, LP                                                                                 | Dundee Eros, LP/Limited Partnership Interest 10/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    1682452 | NS      | $1804539.61    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TCI Holdings, LP                                                                                | TCI Holdings, LP/Common Equity 11/24                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       9050 | NS      | $930065.19     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WSHP FC Holdings LLC                                                                            | WSHP FC Holdings LLC/Class A Preferred Units 11/24                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |          5 | NS      | $79.40         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG IX Cardiff CI II, L.P.                                                                      | TPG IX Cardiff CI II, L.P./Class A Partnership Units 11/24                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    2299421 | NS      | $2911030.20    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CBTS TopCo, L.P.                                                                                | CBTS TopCo, L.P./Series A-2 Participating Preferred Units 12/24                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    1100000 | NS      | $1235665.21    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| HIG Intermediate, Inc.                                                                          | HIG Intermediate, Inc./Series A Preferred Shares 12/24                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       5290 | NS      | $5290000.00    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| South Florida Motorsports, LLC                                                                  | South Florida Motorsports, LLC/Class A Common Interest 12/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          8 | NS      | $7974435.11    | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FEH Group, LLC.                                                                                 | FEH Group, LLC/Class A Common Interest 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          8 | NS      | $83230688.83   | 1.69%             |  |  |  | Yes           |                  3 | On Loan: No      |
| County Line South Properties, LLC                                                               | County Line South Properties, LLC/Class A Common Interest 12/24                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          8 | NS      | $2427540.56    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Dolphin Center Properties, LLC                                                                  | Dolphin Center Properties, LLC/Class A Common Interest 12/24                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          8 | NS      | $598754.49     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Tikehau Green Diamond II CFO Equity LP                                                          | Tikehau Green Diamond II CFO Equity LP / Preferred Stock 11/24                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    2216286 | NS      | $1867048.97    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Creek Feeder, L.P.                                                                              | Creek Feeder, L.P./Common Stock 12/24                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    1447000 | NS      | $2046238.88    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/A Ordinary Shares 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3354688 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/B Ordinary Shares 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3354688 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/C Ordinary Shares 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3354688 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/D Ordinary Shares 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3354688 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/E Ordinary Shares 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3354688 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/H Ordinary Shares 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3354688 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/I Ordinary Shares 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3354688 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/Ordinary Shares 12/24                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |     389395 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aerin Medical Inc.                                                                              | Aerin Medical Inc./Series G Preferred Stock 12/24                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     152624 | NS      | $147677.76     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/F Ordinary Shares 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3354688 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/G Ordinary Shares 12/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |    3354688 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Unity Purchaser, LLC                                                                            | Unity Purchaser, LLC/Class A Units 1/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     358000 | NS      | $356464.90     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Bluejack Fire Holdings, LLC                                                                     | Bluejack Fire Holdings, LLC/Common Equity 1/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        195 | NS      | $184156.18     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Adonis Acquisition Holdings Parent LLC                                                          | Adonis Acquisition Holdings Parent LLC/Common Units 2/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      66089 | NS      | $1604823.85    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SBC Aggregator LP                                                                               | SBC Aggregator LP/Co-Invest Units 2/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       1247 | NS      | $1688663.59    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ZBS Mechanical Group Co-Invest II Fund 2, LLC                                                   | ZBS Mechanical Group Co-Invest II Fund 2, LLC/Common Units 2/25                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       4767 | NS      | $26576.02      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Next Horizon Capital TireCo SPV, LP                                                             | Next Horizon Capital TireCo SPV, LP/Limited Partnership Interests 3/25                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      48000 | NS      | $60664.18      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MS Precision Parent, LP                                                                         | MS Precision Parent, LP/Common Equity 3/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     179000 | NS      | $202401.74     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BVI Group Limited                                                                               | BVI Group Limited/Ordinary Shares 3/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        532 | NS      | $342426.72     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aimbridge Topco, LLC                                                                            | Aimbridge Topco, LLC/Reorganized Equity 3/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      11970 | NS      | $628483.94     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PCMI Ultimate Holdings, LP                                                                      | PCMI Ultimate Holdings, LP/Class A Units 3/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        145 | NS      | $221755.17     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PCMI Ultimate Holdings, LP                                                                      | PCMI Ultimate Holdings, LP/Class B Units 3/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      34526 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Forward Keystone Holdings, LP                                                                   | Forward Keystone Holdings, LP/Common Equity 3/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     588000 | NS      | $610054.70     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NCP MSI Co-Invest, LP                                                                           | NCP MSI Co-Invest, LP/Common Units 3/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     130000 | NS      | $127421.58     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IMPEL CV-B, LP                                                                                  | IMPEL CV-B, LP/Limited Partner Interest 3/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     130381 | NS      | $101699.14     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Gula Co-Invest II, L.P.                                                                         | Gula Co-Invest II, L.P./Common Units 3/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         28 | NS      | $36887.33      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GSM Rights Fund II LP                                                                           | GSM Rights Fund II LP/Class B interest 3/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     561641 | NS      | $571183.89     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 15484910 Canada Inc.                                                                            | 15484910 Canada Inc./Common Equity 4/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CA        |    2225693 | NS      | $1552969.25    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| General Atlantic (USU) Blocker Collection Holdco, L.P.                                          | General Atlantic (USU) Blocker Collection Holdco, L.P./Partnership Units 4/25                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     305000 | NS      | $523787.18     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| iCapital, Inc.                                                                                  | iCapital, Inc./Common Units 4/25                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     295434 | NS      | $4685405.39    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ModMed Software Midco Holdings, Inc.                                                            | ModMed Software Midco Holdings, Inc./Series A Preferred Stock 4/25                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      13000 | NS      | $14152892.95   | 0.29%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Plaskolite PPC Blocker LLC                                                                      | Plaskolite PPC Blocker LLC/Preferred Units 5/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       3271 | NS      | $66324.01      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Jams Holdings LP                                                                                | JAMS Holdings LP/Preferred Units 6/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     139000 | NS      | $180518.47     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Melody Holdings LP                                                                              | Melody Holdings LP Class A-1 Common Units                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        484 | NS      | $860318.52     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Melody Holdings LP                                                                              | Melody Holdings LP Class A-2 Common Units                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        484 | NS      | $95590.97      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Melody TopCo LP                                                                                 | Melody TopCo LP Class A-1 Preferred Units                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       1199 | NS      | $2283541.52    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Melody TopCo LP                                                                                 | Melody TopCo LP Class A-2 Preferred Units                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       1199 | NS      | $256459.03     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TI VI Holdings 1, L.P.                                                                          | TI VI Holdings 1, L.P./Preference Shares 06/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | GB        |       1771 | NS      | $1882381.57    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs Inc./Series B Redeemable Preferred Stock 6/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        776 | NS      | $863987.07     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Allclear Group LLC                                                                              | Allclear Group LLC/Limited Partnership                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       1146 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MDCP Co-Investors (Jade I), L.P.                                                                | MDCP Co-Investors (Jade I), L.P./Common Units 6/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    2490000 | NS      | $3461433.53    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FIC Matterhorn CF, LP                                                                           | FIC Matterhorn CF, LP/Common Stock 6/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     807179 | NS      | $949123.66     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FIC Matterhorn CF Feeder, LP                                                                    | FIC Matterhorn CF Feeder, LP/Common Stock 6/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        684 | NS      | $804.34        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Buckman PPC Co-Invest LP                                                                        | Buckman PPC Co-Invest LP/Limited Partnership Interests 6/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     906000 | NS      | $1041497.74    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Align Precision Topco, L.P.                                                                     | Align Precision Topco, LP/Common Shares Class A-2 7/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       1486 | NS      | $55383.26      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Elliott Davis Advisory HoldCo, LLC                                                              | Elliott Davis Advisory HoldCo, LLC/Class A-1 Units 7/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     212000 | NS      | $206292.11     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Providence Equity Partners IX-C L.P.                                                            | Providence Equity Partners IX-C L.P./Common Equity 7/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      52177 | NS      | $60966.84      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Integrum Grit Co-Invest LP                                                                      | Integrum Grit Co-Invest LP/LP Interest 7/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      65250 | NS      | $60869.64      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Talon Holdings SCSP                                                                             | Talon Holdings SCSP/Class A Capital Units 7/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | LU        |     319000 | NS      | $373009.89     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Apex Clean Energy TopCo, LLC                                                                    | Apex Clean Energy TopCo, LLC/Class B Common Units 7/25                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      12571 | NS      | $2126478.01    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| UPBW Blocker, LLC                                                                               | UPBW Blocker, LLC/Senior Preferred Units 7/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        410 | NS      | $45375.09      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Jewel Bidco Limited                                                                             | Jewel Bidco Limited/CVR 05/25                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |        253 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ID.me, Inc.                                                                                     | ID.me, Inc./Series E Preferred Stock 8/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    1872803 | NS      | $2951689.23    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MC ACCELERATE CO-INVEST FEEDER LP                                                               | MC ACCELERATE CO-INVEST FEEDER LP Membership Interest                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       1000 | NS      | $1038.17       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MC CIF WEALTH MANAGEMENT (UK) LTD.                                                              | MC CIF WEALTH MANAGEMENT (UK) LTD.  Z1 Preferred Shares                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | GB        |        639 | NS      | $688665.21     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| MC CIF WEALTH MANAGEMENT (UK) LTD.                                                              | MC CIF WEALTH MANAGEMENT (UK) LTD.  Z2 Preferred Shares                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | GB        |        639 | NS      | $663610.56     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Continental Group Holdings, L.P.                                                                | Continental Group Holdings, L.P./Class A Units 7/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       9286 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Watermill Express Holdings, LLC                                                                 | Watermill Express Holdings, LLC/Class E Units                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        805 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CWC Fund I (MFA) LP                                                                             | CWC Fund I Co-Invest (MFA) LP//Limited Partner Interests 8/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     313587 | NS      | $312764.15     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FIP RR Holdings LLC                                                                             | FIP RR Holdings LLC Series A Preferred Shares 8/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      12191 | NS      | $13456051.11   | 0.27%             |  |  |  | No            |                  3 | On Loan: No      |
| Denali Parent Holdings, L.P.                                                                    | Denali Parent Holdings, L.P./Series A Units 8/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      94500 | NS      | $1107562.02    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TVG-MGT UPPER INTERMEDIATE HOLDINGS, LLC                                                        | TVG-MGT UPPER INTERMEDIATE HOLDINGS, LLC / Class A Common Equity 08/25                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         49 | NS      | $66257.80      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BCPE Hyperlink Holdings, LP                                                                     | BCPE Hyperlink Holdings, LP/Class A Units 8/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       4683 | NS      | $54977.03      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LH Equity Investors, L.P.                                                                       | LH Equity Investors, L.P./Limited Partnership Interest 9/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        667 | NS      | $736839.33     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Haveli Cascade Co-Invest I, L.P.                                                                | Haveli Cascade Co-Invest I, L.P./Interests 9/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      97000 | NS      | $95887.80      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Clarity Technologies Holdings, LP                                                               | Clarity Technologies Holdings, LP/Class A Units 9/25                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       4541 | NS      | $428374.49     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AE EventsCo Holdings LLC                                                                        | AE EventsCo Holdings LLC/Class A-1 Units 10/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          7 | NS      | $73027.69      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AE EventsCo Holdings LLC                                                                        | AE EventsCo Holdings LLC/Class A-2 Units 10/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         10 | NS      | $102290.81     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| South Florida Tennis, LLC                                                                       | South Florida Tennis, LLC/Class A Common Interests 10/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          8 | NS      | $2358539.03    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Propagate Content LLC                                                                           | Propagate Content LLC/Preferred Equity 10/25                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |          0 | NS      | $35538.02      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| General Atlantic (USU-2) Coinvest, L.P.                                                         | General Atlantic (USU-2) Coinvest, L.P./Common Units 10/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      61653 | NS      | $65750.03      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Endurance PT Technology Holdings LLC                                                            | Endurance PT Technology Holdings LLC/Common Units 10/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         90 | NS      | $9967.14       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Endurance PT Technology Holdings LLC                                                            | Endurance PT Technology Holdings LLC/Preferred Units 10/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         81 | NS      | $82153.97      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Production Resource Group, L.L.C.                                                               | Production Resource Group, L.L.C. Class A                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       3010 | NS      | $123823.13     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Knight Holdings, LP                                                                             | Knight Holdings, LP/Class A-1 Units 11/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       8042 | NS      | $80415.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Pond Management Group Holdings, LLC                                                             | Pond Management Group Holdings, LLC/Class A Units 11/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       1590 | NS      | $159000.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Magnetite LV, Limited                                                                           | Magnetite LV, Limited/ CLO Warehouse                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | KY        |    5593333 | PA      | $5593333.36    | 0.11%             |  |  |  | No            |                  3 | On Loan: No      |
| TSWT Holdings, LLC                                                                              | TSWT Holdings, LLC/Class A Units 11/25                                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          1 | NS      | $18148.26      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AIMCO CLO 30, LTD.                                                                              | AIMCO CLO 30, LTD.  / CLO Warehouse                                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | US        |    1189531 | PA      | $1189531.25    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| BV-UFS Aggregator, LLC                                                                          | BV-UFS Aggregator, LLC/Common Stock 12/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      19610 | NS      | $32752.30      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Schill Holdings, LP                                                                             | Schill Holdings, LP/Common Equity Co-invest 12/25                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     123000 | NS      | $123000.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GMF Group Holdings, LP                                                                          | GMF Group Holdings, LP/Class A2 Units 12/25                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |        303 | NS      | $303000.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Calera XXVIII, LLC                                                                              | Calera XXVIII, LLC/Common Units 12/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     234587 | NS      | $248175.97     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Livewire Co-Invest Holdings, LP                                                                 | Livewire Co-Invest Holdings, LP/Common Equity Co-Invest 12/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         22 | NS      | $22296.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VEIT Topco, LLC                                                                                 | VEIT Topco, LLC/Common Stock 12/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       3000 | NS      | $45619.94      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TPG IX Cardiff CI II, L.P.                                                                      | TPG IX Cardiff CI II, L.P./Class B Partnership Units 12/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     255802 | NS      | $323841.67     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Minerva Holdco, Inc.                                                                            | Minerva Holdco, Inc./Series A Preferred Equity                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      21262 | NS      | $32807155.44   | 0.67%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HarbourVest Structured Solutions 2025 Feeder L.P.                                               | HarbourVest Structured Solutions 2025 Feeder L.P. / Limited Partnership Interest 01/26                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    1333893 | NS      | $1303586.67    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Galaxy Topco I, L.P.                                                                            | Galaxy Topco I, L.P./ Class A-1 Units 1/26                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      98000 | NS      | $98000.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BPCP Pinnacle Holdings, Inc.                                                                    | BPCP Pinnacle Holdings, Inc./Preferred Stock 1/26                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |         24 | NS      | $23787.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AE EventsCo Holdings LLC                                                                        | AE EventsCo Holdings LLC/Class A-3 Units 10/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |          5 | NS      | $47751.94      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TCC Buyer Holdco, LLC                                                                           | TCC Buyer Holdco, LLC/Preferred Equity Co-Invest 1/26                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       1131 | NS      | $1131000.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Create Music Holdings, LLC                                                                      | Create Music Holdings, LLC/Ares Equity Co-Invest 2/26                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      27853 | NS      | $310000.02     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Abingdon Global Acquisitions Limited                                                            | Abingdon Global Acquisitions Limited/A4 Ordinary shares 03/26                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |        210 | NS      | $29332.51      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GMR Buyer Corp.                                                                                 | GMR Buyer Corp./Non-Voting Warrant 3/26                                                                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |     192771 | NC      | $5410092.48    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| StepStone Boulder II Equity, L.P.                                                               | StepStone Boulder II Equity, L.P. / Preferred Shares 03/26                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    4163600 | NS      | $4163600.00    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Banyan Software Intermediate, Inc.                                                              | Banyan Software Intermediate, Inc./Series A Preferred Shares 1/25 - Series 1                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      17849 | NS      | $21222903.12   | 0.43%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Banyan Software Intermediate, Inc.                                                              | Banyan Software Intermediate, Inc./Series A Preferred Shares 1/25 - Series 2                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      26813 | NS      | $30751158.95   | 0.62%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Banyan Software Intermediate, Inc.                                                              | Banyan Software Intermediate, Inc./Series A Preferred Shares 1/25 - Series 3                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       1688 | NS      | $1732895.45    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HarbourVest Structured Solutions 2025 L.P.                                                      | HarbourVest Structured Solutions 2025 L.P./ Class B Delayed Draw Notes 01/26                                                  | CUSIP: 41167EAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    5228859 | PA      | $5202714.71    | 0.11%             | 2041-03-29      | Floating      | 7.96%                 | No            |                  3 | On Loan: No      |
| HarbourVest Structured Solutions 2025 L.P.                                                      | HarbourVest Structured Solutions 2025 L.P./ Class C Delayed Draw Notes 01/26                                                  | CUSIP: 41167EAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    5335570 | PA      | $5308892.15    | 0.11%             | 2041-03-29      | Floating      | 12.25%                | No            |                  3 | On Loan: No      |
| Eagle Point Credit Co Inc                                                                       | ECC US Closed-End Fund                                                                                                        | CUSIP: 269808101<br>LEI: 549300H82HTZTPXB6822 | Long             | EC               | RF                | US        |     350002 | NS      | $1316007.52    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Apex Clean Energy TopCo, LLC                                                                    | Apex Clean Energy TopCo, LLC/Class A Common Units                                                                             | CUSIP: EQST04019<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     149776 | NS      | $25336425.32   | 0.51%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OMERS Mahomes Investment Holdings LLC                                                           | OMERS Mahomes Investment Holdings LLC/Preferred Units 06/23                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |          2 | NS      | $24437.36      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CFC Funding LLC                                                                                 | CFC Funding LLC/Loan Investment Units 7/23                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       4270 | NS      | $5419429.17    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LBC Breeze Holdings LLC                                                                         | LBC Breeze Holdings LLC/Class A Units 12/21                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         50 | NS      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANCHC 2021-20                                                                                   | ANCHC 2021-20X SUB                                                                                                            | CUSIP: BCC335MC9<br>LEI: 549300AYL7KYENHY1C67 | Long             | ABS-O            | CORP              | KY        |    1150000 | PA      | $252292.75     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| ATRM 14                                                                                         | ATRM 14X SUB                                                                                                                  | CUSIP: BCC2HBBW1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     510400 | PA      | $158051.48     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BALLY 2022-21                                                                                   | BALLY 2022-21X SUB                                                                                                            | CUSIP: BCC37WFC4<br>LEI: 254900FOV48Z8K26JH50 | Long             | ABS-O            | CORP              | JE        |    2730000 | PA      | $1638013.65    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| DRSLF 2022-98                                                                                   | DRSLF 2022-98X SUB                                                                                                            | CUSIP: BCC3520F1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1000000 | PA      | $282771.00     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| ELMW8 2021-1                                                                                    | ELMW8 2021-1X SUB                                                                                                             | CUSIP: BCC2QMEU8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |     385000 | PA      | $59962.98      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MDPK 2021-59                                                                                    | MDPK 2021-59X SUB                                                                                                             | CUSIP: BCC3491H2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1500000 | PA      | $441412.50     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| MDPK 2018-32                                                                                    | MDPK 2018-32X SUB                                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | KY        |     710000 | PA      | $195158.41     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| INVCO 2021-3                                                                                    | INVCO 2021-3X Y                                                                                                               | CUSIP: BCC338L00<br>LEI: 5493000BVI47XOSBML18 | Long             | ABS-O            | CORP              | KY        |      95675 | PA      | $21238.03      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| INVCO 2021-3                                                                                    | INVCO 2021-3X SUB                                                                                                             | CUSIP: BCC338KZ4<br>LEI: 5493000BVI47XOSBML18 | Long             | ABS-O            | CORP              | KY        |     956750 | PA      | $176524.20     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| OAKC 2016-13                                                                                    | OAKC 2016-13X SUB                                                                                                             | CUSIP: BCC2CCTV7<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-O            | CORP              | KY        |    1100000 | PA      | $456937.80     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| KKR 2024-56                                                                                     | KKR 2024-56A SUB                                                                                                              | CUSIP: 48256HAE2<br>LEI: 254900BBJPGN777LWF70 | Long             | ABS-O            | CORP              | KY        |    4240000 | PA      | $2704072.72    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| High Street Buyer, Inc.                                                                         | High Street Buyer, Inc./Delayed Draw B Term Loan 4/21                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6060151 | PA      | $6060150.64    | 0.12%             | 2028-04-14      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| High Street Buyer, Inc.                                                                         | High Street Buyer, Inc./Delayed Draw A Term Loan 4/21                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2657799 | PA      | $2657798.57    | 0.05%             | 2028-04-14      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Patriot Growth Insurance Services, LLC                                                          | Patriot Growth Insurance Services, LLC/Revolver 10/21                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     250173 | PA      | $247671.73     | 0.01%             | 2028-10-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs                                                                                   | Recv Irs 6.07 04/14/2032                                                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |          1 | NC      | $1286782.61    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs                                                                                   | Recv Irs 5.94 01/15/2030                                                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              | CORP              | US        |          1 | NC      | $1471060.70    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| IGEA BIDCO S.P.A                                                                                | IGEA Sr Secured Fltg Nts due 2031                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | IT        |    3650793 | PA      | $4219789.81    | 0.09%             | 2031-09-24      | Fixed         | 7.75%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs & Co. LLC                                                                         | CDX HY CDSI S41 5Y PRC                                                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |          1 | NC      | $-531255.52    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ASF VII WAGNER L.P.,                                                                            | ASF VII WAGNER L.P.,/Term Loan USD 12/23 (DB Participation)                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     138653 | PA      | $138652.89     | 0.00%             | 2028-08-16      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| ASF VII WAGNER L.P.,                                                                            | ASF VII WAGNER L.P.,/ Term Loan EUR 12/23 (DB Participation)                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |     119631 | PA      | $138276.57     | 0.00%             | 2028-08-16      | Floating      | 8.02%                 | No            |                  3 | On Loan: No      |
| ASF VII WAGNER B L.P.,                                                                          | ASF VII WAGNER B L.P.,/Term Loan USD 12/23 (DB Participation)                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      64979 | PA      | $64978.90      | 0.00%             | 2028-08-16      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| ASF VII WAGNER B L.P.,                                                                          | ASF VII WAGNER B L.P.,/ Term Loan EUR 12/23 (DB Participation)                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      56065 | PA      | $64802.58      | 0.00%             | 2028-08-16      | Floating      | 8.02%                 | No            |                  3 | On Loan: No      |
| Inszone Mid, LLC                                                                                | Inszone Mid, LLC/A&R Term Loan 11/23                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2026881 | PA      | $2026881.08    | 0.04%             | 2029-11-30      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Inszone Mid, LLC                                                                                | Inszone Mid, LLC/A&R Delayed Draw Term Loan Facility 11/23                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2040344 | PA      | $2040343.99    | 0.04%             | 2029-11-30      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Inszone Mid, LLC                                                                                | Inszone Mid, LLC/A&R Revolving Credit Facility 11/23                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1291066 | PA      | $1291066.00    | 0.03%             | 2029-11-30      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Wealth Enhancement Group, LLC                                                                   | Wealth Enhancement Group, LLC/Initial Term Loan 10/19                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3484090 | PA      | $3449249.47    | 0.07%             | 2028-10-04      | Floating      | 7.91%                 | No            |                  3 | On Loan: No      |
| Radius Aerospace Europe Limited                                                                 | Radius Aerospace Europe Limited/U.K. Term Loan 11/19                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    4081192 | PA      | $4081192.09    | 0.08%             | 2027-03-29      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| AQ Sunshine, Inc.                                                                               | AQ Sunshine, Inc./Delayed Draw Term Loan 7/24                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6183236 | PA      | $6183235.91    | 0.13%             | 2031-07-24      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| CHPPR Holdings Inc.                                                                             | CHPPR Holdings Inc. Common Stock                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       4700 | NS      | $1029476.04    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Enviva Inc.                                                                                     | Enviva Inc./Private Equity                                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    1273882 | NS      | $23885287.50   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| SageSure Holdings, LLC                                                                          | SageSure Holdings, LLC/Delayed Draw B Term Loan 8/24                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5087659 | PA      | $5087659.22    | 0.10%             | 2030-01-28      | Floating      | 8.53%                 | No            |                  3 | On Loan: No      |
| Clearstead Advisors, LLC                                                                        | Clearstead Advisors, LLC/3rd Amendment Term B Loan 5/25                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     334086 | PA      | $334086.00     | 0.01%             | 2028-02-01      | Floating      | 8.23%                 | No            |                  3 | On Loan: No      |
| Sterilex LLC                                                                                    | Sterilex LLC/Delayed Draw Term Loan 9/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      54112 | PA      | $54112.00      | 0.00%             | 2030-09-19      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| G702 Buyer, Inc.                                                                                | G702 Buyer, Inc./Revolver 7/25                                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      71174 | PA      | $71174.00      | 0.00%             | 2031-07-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| WSBidCo Limited                                                                                 | WSBidCo Limited/CAF 2 03/2023                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | JE        |    2884615 | PA      | $3818052.47    | 0.08%             | 2028-06-16      | Floating      | 10.35%                | No            |                  3 | On Loan: No      |
| Shout! Factory, LLC                                                                             | Shout! Factory, LLC/Initial Term Loan 6/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     664651 | PA      | $651357.69     | 0.01%             | 2031-06-30      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Eagle Football Holdings BidCo Limited                                                           | Eagle Football Holdings BidCo Limited/Original Series A HoldCo Note 11/22                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | GB        |    1793162 | PA      | $301789.24     | 0.01%             | 2028-12-13      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| Eagle Football Holdings BidCo Limited                                                           | Eagle Football Holdings BidCo Limited/Original Series B1 Bridge HoldCo Note 11/22                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | GB        |      36819 | PA      | $36818.66      | 0.00%             | 2028-12-13      | Fixed         | 20.00%                | No            |                  3 | On Loan: No      |
| Eagle Football Holdings BidCo Limited                                                           | Eagle Football Holdings BidCo Limited/Original Series B2 Bridge HoldCo Note 11/22                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | GB        |        869 | PA      | $868.99        | 0.00%             | 2028-12-13      | Fixed         | 20.00%                | No            |                  3 | On Loan: No      |
| Eagle Football Holdings BidCo Limited                                                           | Eagle Football Holdings BidCo Limited/Series C Note 7/25                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | GB        |     222864 | PA      | $37508.09      | 0.00%             | 2027-01-07      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| Eagle Football Holdings BidCo Limited                                                           | Eagle Football Holdings BidCo Limited/Series D2 Notes 10/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |      63124 | PA      | $53655.37      | 0.00%             | 2026-12-31      | Floating      | 20.00%                | No            |                  3 | On Loan: No      |
| Eagle Football Holdings BidCo Limited                                                           | Eagle Football Holdings Bidco Limited/Series D1 Note 10/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | GB        |      20516 | PA      | $17438.18      | 0.00%             | 2026-12-31      | Fixed         | 20.00%                | No            |                  3 | On Loan: No      |
| Oxford Lane Capital Corp.                                                                       | OXLC US Closed-End Fund                                                                                                       | CUSIP: 691543847<br>LEI: 549300G3KO4JNQQD7Z72 | Long             | EC               | RF                | US        |      75000 | NS      | $733500.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Patriot Growth Insurance Services, LLC                                                          | Patriot Growth Insurance Services, LLC/Closing Date Term Loan 10/21                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1738327 | PA      | $1720943.46    | 0.03%             | 2028-10-16      | Floating      | 8.85%                 | No            |                  3 | On Loan: No      |
| SiroMed Equity Holdings, LLC                                                                    | SiroMed Equity Holdings, LLC\Common Units                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       3703 | NS      | $10048.34      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OMERS Bluejay Investment Holdings LP                                                            | OMERS Bluejay Investment Holdings LP/Class A Units                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         25 | NS      | $49850.83      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CC Fly Holding II A/S                                                                           | CC Fly Holding II A/S/Accordion Facility 3/19                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |     775569 | PA      | $111563.33     | 0.00%             | 2026-05-08      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| CC Fly Holding II A/S                                                                           | CC Fly Holding II A/S/Accordion Facility 2 11/19                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |     803541 | PA      | $115587.02     | 0.00%             | 2026-05-08      | Floating      | 9.92%                 | No            |                  3 | On Loan: No      |
| CC Fly Holding II A/S                                                                           | CC Fly Holding II A/S/Accordion Facility 3 11/19                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DK        |    1566241 | PA      | $225299.15     | 0.00%             | 2026-05-08      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| Pallas NZ Funding Trust No. 1                                                                   | Pallas NZ Funding Trust No. 1/ Revolver 7/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NZ        |    6264815 | PA      | $3600075.28    | 0.07%             | 2026-07-10      | Floating      | 9.36%                 | No            |                  3 | On Loan: No      |
| GCM HVAC HOLDCO, LLC                                                                            | GCM HVAC HOLDCO, LLC/GCM Term Loan 09/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1617968 | PA      | $1617968.18    | 0.03%             | 2031-09-16      | Floating      | 14.00%                | No            |                  3 | On Loan: No      |
| Rust Investment Sarl                                                                            | Rust Investment Sarl/Interest bearing Loan 12/24                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    5607121 | PA      | $4529577.66    | 0.09%             | 2034-11-29      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| DFC Global Facility Borrower III LLC                                                            | DFC Global Facility Borrower III LLC/Revolving Credit AXOS (MPL) 01/25 (Leverage)                                             | CUSIP: N/A<br>LEI: N/A                        | Short            | LON              | CORP              | US        |  -12170290 | PA      | $-12170289.60  | -0.25%            | 2028-01-17      | Floating      | 5.59%                 | No            |                  3 | On Loan: No      |
| DFC Global Facility Borrower III LLC                                                            | DFC Global Facility Borrower III LLC/Revolving Credit (MPL) Everbank 01/25 (Leverage)                                         | CUSIP: N/A<br>LEI: N/A                        | Short            | LON              | CORP              | US        |   -7119619 | PA      | $-7119619.42   | -0.14%            | 2028-01-17      | Floating      | 5.59%                 | No            |                  3 | On Loan: No      |
| MCF CLO 12 LLC                                                                                  | MCF CLO 12 LLC/Delayed Draw Term Loan 2/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   10400000 | PA      | $10358400.00   | 0.21%             | 2034-02-13      | Floating      | 7.72%                 | No            |                  3 | On Loan: No      |
| Panther NewCo                                                                                   | Panther NewCo/Tranche C1 Acquisition Bonds 04/25                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    4662969 | PA      | $5389719.02    | 0.11%             | 2029-05-24      | Floating      | 7.80%                 | No            |                  3 | On Loan: No      |
| Panther NewCo                                                                                   | Panther NewCo/Tranche C1 Capex Bonds 04/25                                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    1034300 | PA      | $1195501.41    | 0.02%             | 2029-05-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Comet Software                                                                                  | Comet Software/ Initial Tranche 11/25                                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |     200000 | PA      | $231171.11     | 0.00%             | 2032-11-05      | Floating      | 4.75%                 | No            |                  3 | On Loan: No      |
| Comet Software                                                                                  | Comet Software/ Additional Tranche 11/25                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |     800000 | PA      | $924684.45     | 0.02%             | 2032-11-05      | Floating      | 6.88%                 | No            |                  3 | On Loan: No      |
| MASCO GROUP S.P.A.                                                                              | MASCO GROUP S.P.A./ Senior Secured Floating Rate Delayed Issue Notes due 2031                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IT        |    1484441 | PA      | $1715799.68    | 0.03%             | 2031-10-11      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Cannon Bridge Designated Activity Company                                                       | Cannon Bridge Designated Activity Company/Junior Loan Note 12/25                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IE        |    4077365 | PA      | $4628014.25    | 0.09%             | 2027-07-26      | Floating      | 14.10%                | No            |                  3 | On Loan: No      |
| Cannon Bridge Designated Activity Company                                                       | Cannon Bridge Designated Activity Company/Mezzanine Loan Note 12/25                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | IE        |    2038683 | PA      | $2356422.74    | 0.05%             | 2027-07-26      | Floating      | 8.00%                 | No            |                  3 | On Loan: No      |
| Silver Bidco GmbH                                                                               | Silver Bidco GmbH/Facility B 12/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DE        |     605420 | PA      | $685782.51     | 0.01%             | 2031-06-18      | Floating      | 7.38%                 | No            |                  3 | On Loan: No      |
| Silver Bidco GmbH                                                                               | Silver Bidco GmbH/Capex Facility B                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | DE        |     153056 | PA      | $175141.52     | 0.00%             | 2031-06-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Pallas Australia Feeder Trust                                                                   | Pallas Australia Feeder Trust/Class A Delay Draw Loan AUD 01/26                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | AU        |    6921463 | PA      | $4775464.57    | 0.10%             | 2028-01-07      | Floating      | 10.03%                | No            |                  3 | On Loan: No      |
| Impact SAS                                                                                      | Impact SAS/ Facility A Bonds 02/26                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | FR        |    2000000 | PA      | $2311711.13    | 0.05%             | 2032-02-26      | Floating      | 8.13%                 | No            |                  3 | On Loan: No      |
| Anchorage Credit Funding 20, Ltd.                                                               | ANCHF 2026-20 SUB Warehouse                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-MBS          | CORP              | US        |    5065000 | PA      | $5065000.00    | 0.10%             | 2026-06-30      | Fixed         | 8.30%                 | No            |                  3 | On Loan: No      |
| CIFC 2022-2                                                                                     | CIFC 2022-2A SUBB                                                                                                             | CUSIP: 12567QAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1900000 | PA      | $662754.20     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Goldman Sachs & Co. LLC                                                                         | SRT CDS Tranche 95.12 - 99.23 09/30/31                                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |          1 | NC      | $0.00          | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| IGEA BIDCO S.P.A                                                                                | IGEA Sr Secured Fltg Delayed Issue Nts due 2031                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | IT        |     757393 | PA      | $875436.62     | 0.02%             | 2031-09-24      | Fixed         | 8.73%                 | No            |                  3 | On Loan: No      |
| SIXST 2022-21                                                                                   | SIXST 2022-21A SUB                                                                                                            | CUSIP: 83012TAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    4161000 | PA      | $1944680.80    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VRC Companies, LLC                                                                              | VRC Companies, LLC/Note 6/21                                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |      27108 | PA      | $27108.23      | 0.00%             | 2028-06-29      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| GMR Buyer Corp.                                                                                 | GMR Buyer Corp./Warrants 12/21                                                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       1927 | NC      | $54068.93      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Gotham Greens Holdings, PBC                                                                     | Gotham Greens Holdings, PBC/Warrant Shares                                                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |      31842 | NC      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Eagle Football Holdings Limited                                                                 | Eagle Football Holdings Limited/Warrant instrument A 03/23                                                                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |          5 | NC      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Eagle Football Holdings Limited                                                                 | Eagle Football Holdings Limited/Warrant instrument B1 03/23                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |          5 | NC      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Nomi Health, Inc.                                                                               | Nomi Health, Inc./Series B Warrant                                                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       2174 | NC      | $137.52        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Priority Waste Super Holdings, LLC                                                              | Priority Waste Super Holdings, LLC/ Class A Warrant Units 8/23                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       4247 | NC      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CHPPR Holdings Inc.                                                                             | CHPPR Holdings Inc. 4(A)(2)DOT Warrant                                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       7625 | NC      | $1670160.60    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| CHPPR Holdings Inc.                                                                             | CHPPR Holdings Inc. 1145 DOT Warrant                                                                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       3054 | NC      | $668940.39     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| GMR Buyer Corp.                                                                                 | GMR Buyer Corp./Warrants 5/24                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |     766284 | NC      | $21505658.54   | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Nomi Health, Inc.                                                                               | Nomi Health, Inc./Class A Warrant 6/24                                                                                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       4857 | NC      | $5002.29       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Priority Waste Super Holdings, LLC                                                              | Priority Waste Super Holdings, LLC/Class A Warrant Units Incremental 6/24                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       1937 | NC      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| New Insight Holdings, Inc.                                                                      | New Insight Holdings, Inc./Warrants 7/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       5104 | NC      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SelectQuote, Inc.                                                                               | SelectQuote, Inc./Unvested Warrants 10/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |      57965 | NC      | $59.88         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ID.me, Inc.                                                                                     | ID.me, Inc./1% Penny Warrants 1/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |    1198188 | NC      | $1888441.34    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| League One Volleyball, Inc.                                                                     | League One Volleyball, Inc./Warrants 1/25                                                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |          8 | NC      | $113.60        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Fever Labs, Inc.                                                                                | Fever Labs Inc./Warrants 6/25                                                                                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |      15704 | NC      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FIP RR Holdings LLC                                                                             | FIP RR Holdings LLC Warrant                                                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       2103 | NC      | $1480476.80    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| PFL MMA, Inc.                                                                                   | PFL MMA, Inc./Series 2 Equity Warrants 1/26                                                                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |          3 | NC      | $0.00          | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| pH Beauty Holdings III, Inc.                                                                    | pH Beauty Holdings III, Inc./Revolving Credit Facility (First Lien) 09/18                                                     | CUSIP: 69403BAB9<br>LEI: 549300ZG254SEQ2CTY07 | Long             | LON              | CORP              | US        |     226590 | PA      | $226590.00     | 0.00%             | 2027-09-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| GS SEER Group Borrower LLC                                                                      | GS SEER Group Borrower LLC/Revolver 04/23                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      36698 | PA      | $34129.14      | 0.00%             | 2029-04-30      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| World Insurance Associates, LLC                                                                 | World Insurance Associates, LLC/Revolver Loan 02/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      59839 | PA      | $59240.61      | 0.00%             | 2030-04-03      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| AQ Sunshine, Inc.                                                                               | AQ Sunshine, Inc./Initial Term Loan 7/24                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   14566056 | PA      | $14566055.72   | 0.30%             | 2031-07-24      | Floating      | 8.70%                 | No            |                  3 | On Loan: No      |
| CHPPR Holdings Inc.                                                                             | CHPPR Holdings Inc. Warrant Class A                                                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |      13942 | NC      | $1588001.93    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| CHPPR Holdings Inc.                                                                             | CHPPR Holdings Inc. Warrant Class B                                                                                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |       6604 | NC      | $574309.87     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| BNZ TopCo B.V.                                                                                  | BNZ TopCo B.V./Facility A 08/24                                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |   10714086 | PA      | $12136257.20   | 0.25%             | 2030-10-09      | Floating      | 8.88%                 | No            |                  3 | On Loan: No      |
| Dorado Bidco, Inc.                                                                              | Dorado Bidco, Inc./Initial Term Loan 9/24                                                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    3061061 | PA      | $3061061.09    | 0.06%             | 2031-09-12      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Mountaineer Merger Corporation                                                                  | Mountaineer Merger Corporation/Revolver 9/24                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    5374807 | PA      | $5106066.65    | 0.10%             | 2027-10-01      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| Paris US Holdco, Inc. & 1001028292 Ontario Inc.                                                 | Paris US Holdco, Inc. & 1001028292 Ontario Inc./Revolver 12/24                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1074319 | PA      | $1074319.00    | 0.02%             | 2031-12-02      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| IFH Franchisee Holdings, LLC                                                                    | IFH Franchisee Holdings, LLC/Revolver 12/24                                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1736377 | PA      | $1736377.00    | 0.04%             | 2029-12-20      | Floating      | 7.66%                 | No            |                  3 | On Loan: No      |
| Unity Purchaser, LLC                                                                            | Unity Purchaser, LLC/Revolver 1/25                                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     423926 | PA      | $423926.00     | 0.01%             | 2031-01-27      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Spruce Bidco II Inc.                                                                            | Spruce Bidco II Inc./CAD Term Loan 1/25                                                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    9317833 | PA      | $6698176.26    | 0.14%             | 2032-01-30      | Floating      | 7.00%                 | No            |                  3 | On Loan: No      |
| Msis Holdings, Inc.                                                                             | Msis Holdings, Inc./Delayed Draw Term Loan 3/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1163756 | PA      | $1163756.00    | 0.02%             | 2031-03-10      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Movares Group B.V.                                                                              | Movares Group B.V./Acquisition Facility 07/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |     454545 | PA      | $525388.37     | 0.01%             | 2032-07-08      | Floating      | 7.63%                 | No            |                  3 | On Loan: No      |
| Hamilton Thorne Inc.                                                                            | Hamilton Thorne Inc./Additional Delayed Draw Term Loan 4/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     729046 | PA      | $729046.00     | 0.01%             | 2031-11-28      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| OID-OL Intermediate I, LLC                                                                      | OID-OL Intermediate I, LLC/TL2 05/25                                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     863501 | PA      | $568365.23     | 0.01%             | 2029-02-01      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| Bad Vibes Forever, LLC and Bad Vibes Forever Publishing, LLC                                    | Bad Vibes Forever, LLC and Bad Vibes Forever Publishing, LLC/Term Loan 6/25                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     537426 | PA      | $537426.00     | 0.01%             | 2032-06-28      | Floating      | 9.10%                 | No            |                  3 | On Loan: No      |
| Movares Group B.V.                                                                              | Movares Group B.V./Facility B Tranche B2 07/25                                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | NL        |    1363637 | PA      | $1576167.41    | 0.03%             | 2032-07-08      | Floating      | 7.76%                 | No            |                  3 | On Loan: No      |
| Elliott Davis Advisory, LLC                                                                     | Elliott Davis Advisory, LLC/Initial Term Loan 7/25                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1231633 | PA      | $1231633.00    | 0.03%             | 2031-07-08      | Floating      | 8.33%                 | No            |                  3 | On Loan: No      |
| NMN Holdings III Corp.                                                                          | NMN Holdings III Corp./USD Tranche Incremental Term Loan 9/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     276861 | PA      | $276861.11     | 0.01%             | 2031-07-31      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| UP Intermediate II LLC                                                                          | UP Intermediate II LLC/Amendment No. 1 Term Loan 7/25                                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     772216 | PA      | $772216.36     | 0.02%             | 2032-03-15      | Floating      | 8.20%                 | No            |                  3 | On Loan: No      |
| Sabseg Group, S.L.                                                                              | Sabseg Group, S.L./ Fourth Acquisition / Capex Facility 10/25                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | ES        |     173547 | PA      | $200595.27     | 0.00%             | 2029-04-09      | Floating      | 8.63%                 | No            |                  3 | On Loan: No      |
| NEP Group, Inc.                                                                                 | NEP Group, Inc./Term Loan B 09/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   15664152 | PA      | $14127968.97   | 0.29%             | 2031-10-17      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Edition Holdings, Inc.                                                                          | Edition Holdings, Inc./Delayed Draw Term Loan 12/25                                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     458011 | PA      | $448850.77     | 0.01%             | 2032-12-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Pye-Barker Fire & Safety, LLC                                                                   | Pye-Barker Fire & Safety, LLC/Term Loan 11/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6641002 | PA      | $6646912.07    | 0.13%             | 2032-12-16      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Oak Funding LLC                                                                                 | Oak Funding LLC/ Delayed Draw Term Loan 12/25                                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    6422798 | PA      | $6390683.79    | 0.13%             | 2032-12-02      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Drogon Bidco Inc.                                                                               | Drogon Bidco Inc./ First Amendment Incremental Delayed Draw Term Loan 12/25                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     333057 | PA      | $333057.00     | 0.01%             | 2031-08-29      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Pretium PKG Holdings, Inc.                                                                      | Pretium PKG Holdings, Inc./Common Equity                                                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      47346 | NS      | $954826.78     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Slaine Holdings LLC                                                                             | Slaine Holdings LLC/Delayed Draw Term Loan 5/25                                                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    2422232 | PA      | $2422232.00    | 0.05%             | 2030-05-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Slaine Holdings LLC                                                                             | Slaine Holdings LLC/Revolver 5/25                                                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     437546 | PA      | $437546.00     | 0.01%             | 2030-05-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Firebird Acquisition Corp, Inc.                                                                 | Firebird Acquisition Corp, Inc./Delayed Draw Term Loan 1/25                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1508527 | PA      | $1508527.37    | 0.03%             | 2032-02-02      | Floating      | 8.17%                 | No            |                  3 | On Loan: No      |
| Roman New Bidco Limited                                                                         | Roman New Bidco Limited/Acquisition Capex Facility 2 05/25                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | GB        |    1034091 | PA      | $1368714.26    | 0.03%             | 2028-12-29      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| AllClear Military Inc.                                                                          | AllClear Military Inc./First Out Delayed Draw Term Loan 5/25                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     243269 | PA      | $243268.82     | 0.00%             | 2030-05-31      | Floating      | 9.49%                 | No            |                  3 | On Loan: No      |
| Saber Parent Holdings Corp.                                                                     | Saber Parent Holdings Corp./ Initial Term Loan 12/25                                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    1692222 | PA      | $1675299.29    | 0.03%             | 2032-12-16      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| Kohlberg Private Credit Investors Rated Feeder-L, L.L.C.                                        | Kohlberg Private Credit Investors Rated Feeder-L, L.L.C./Class D Notes 10/25                                                  | CUSIP: 50031XAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    3895402 | PA      | $3856447.98    | 0.08%             | 2036-12-04      | Floating      | 13.02%                | No            |                  3 | On Loan: No      |
| N/A                                                                                             | Kohlberg Private Credit Investors Rated Feeder-L                                                                              | CUSIP: 50031XAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     201839 | PA      | $201839.20     | 0.00%             | 2036-12-04      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| CIFC 2019-5                                                                                     | CIFC 2019-5A INC                                                                                                              | CUSIP: 12554YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    1230000 | PA      | $706373.01     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CGMS 2023-1                                                                                     | CGMS 2023-1A SUB                                                                                                              | CUSIP: 14318YAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    8000000 | PA      | $4148000.00    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-30

**Name of Applicant:** CION Ares Diversified Credit Fund

**Signature:** Scott Lem

**Name of Signer:** Scott Lem

**Title:** Chief Accounting Officer