# EDGAR Filing Document

**Accession Number:** 0001944664
**File Stem:** 0000910472-25-004726
**Filing Date:** 2025-11
**Character Count:** 40822
**Document Hash:** 4f572f209cc61ea2ff32cbb700fad686
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-004726.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000910472-25-004726

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nomura Alternative Income Fund
- **CENTRAL INDEX KEY:** 0001944664

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23826
- **FILM NUMBER:** 251532555

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 2126679131

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Nomura Alternative Income Fund

- **b. Investment Company Act file number:** 811-23826

- **c. CIK number of Registrant:** 0001944664

- **d. LEI of Registrant:** 549300A59FYTUHL9TJ86

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

  - **Street Address 1:** Worldwide Plaza

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10019

  - **Telephone number:** 212-667-9000

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

- **a. Name of Series:** Nomura Alternative Income Fund

- **c. LEI of Series:** 549300A59FYTUHL9TJ86

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $300216333.82

**Total Liabilities:** $7923181.95

**Net Assets:** $292293151.87

**Cash Not Reported:** $5260.31

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.75%                | 0.85%                | 0.72%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2860.04                | $133821.11                                 |
| Month 2  | $3393.83                 | $-369405.77                                |
| Month 3  | $2989.16                 | $-186326.00                                |

### Schedule of Portfolio Investments

| Name                                               | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 61 West Street Associates LLC                      | 61 West Street Associates LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    700000 | PA      | $700770.00    | 0.24%             | 2025-12-16      | Floating      | 11.00%                | Yes           | 3                  | On Loan: No      |
| Cedar Holdings (Offshore) LP - Senior Preferred    | Cedar Holdings (Offshore) LP - Senior Preferred    | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2456137 | NS      | $2456137.00   | 0.84%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Silver Birch Realty LLC                            | Silver Birch Realty LLC                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    700000 | PA      | $700000.00    | 0.24%             | 2026-01-30      | Floating      | 10.50%                | Yes           | 3                  | On Loan: No      |
| Sound Point Discovery Fund LLC                     | Sound Point Discovery Fund LLC                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   1509981 | NS      | $1509981.41   | 0.52%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Alcova Capital Yield Premium Fund, L.P.            | Alcova Capital Yield Premium Fund, L.P.            | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   6048240 | NS      | $6048239.54   | 2.07%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Fillmore Holdings UT, LLC, LV Petroleum, LLC       | Fillmore Holdings UT, LLC, LV Petroleum, LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    907692 | PA      | $907692.31    | 0.31%             | 2026-02-25      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| HarbourView Royalties Parallel Fund I, LP          | HarbourView Royalties Parallel Fund I, LP          | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   8403186 | NS      | $8403185.91   | 2.87%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Armory Market SS LLC                               | Armory Market SS LLC                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.68%             | 2026-05-01      | Fixed         | 16.00%                | Yes           | 3                  | On Loan: No      |
| Fullsteam Holdco, L.P.                             | Fullsteam Holdco, L.P.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1000000 | PA      | $985000.00    | 0.34%             | 2032-08-08      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| A. Stucki Company                                  | A. Stucki Company                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1094500 | PA      | $1086250.00   | 0.37%             | 2030-03-31      | Floating      | 9.18%                 | Yes           | 3                  | On Loan: No      |
| The Varde CRE Lending Fund, L.P.                   | The Varde CRE Lending Fund, L.P.                   | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   8858945 | NS      | $8858945.34   | 3.03%             |  |  |  | Yes           | N/A                | On Loan: No      |
| OHA Credit Partners XVII Ltd                       | OHA Credit Partners XVII Ltd                       | CUSIP: 67120NAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1010676.25   | 0.35%             | 2038-01-18      | Floating      | 9.33%                 | Yes           | 2                  | On Loan: No      |
| A. Stucki Company                                  | A. Stucki Company DDTL - UNFND                     | CUSIP: N/A<br>LEI: N/A                        | Short            | LON              | CORP              | US        |   -400000 | PA      | $-3577.78     | -0.00%            | 2026-09-30      | Floating      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Raistone Purchasing LLC - Series XXVIII            | Raistone Purchasing LLC - Series XXVIII            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2471943 | PA      | $2449372.10   | 0.84%             | 2026-01-14      | Floating      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Cirkul, Inc.                                       | Cirkul, Inc. Warrant Share Strike                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6706 | NS      | $75777.80     | 0.03%             |  |  |  | Yes           | 3                  | On Loan: No      |
| REDD, LLC                                          | REDD, LLC                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.51%             | 2026-08-28      | Variable      | 11.00%                | Yes           | 3                  | On Loan: No      |
| Vernance Originations, LLC                         | Vernance Originations, LLC                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1507500.00   | 0.52%             | 2027-07-06      | Floating      | 15.17%                | Yes           | 3                  | On Loan: No      |
| Maranon Loan Funding Ltd                           | Maranon Loan Funding Ltd                           | CUSIP: 565926AG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1500000 | PA      | $1515463.20   | 0.52%             | 2036-01-15      | Floating      | 11.07%                | Yes           | 2                  | On Loan: No      |
| Dorset Crossing, LLC                               | Dorset Crossing, LLC                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    625000 | PA      | $625250.00    | 0.21%             | 2025-11-04      | Floating      | 13.00%                | Yes           | 3                  | On Loan: No      |
| Altriarch Specialty Finance Fund, LP               | Altriarch Specialty Finance Fund, LP               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   9506199 | NS      | $9506199.42   | 3.25%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ultra Padel Club                                   | Ultra Padel Club                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    675000 | PA      | $675000.00    | 0.23%             | 2027-11-27      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| Coastal Island Developments, LLC                   | Coastal Island Developments, LLC                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.51%             | 2026-04-07      | Floating      | 10.40%                | Yes           | 3                  | On Loan: No      |
| Leasepoint Funding Group, LLC                      | Leasepoint Funding Group, LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.68%             | 2026-09-17      | Variable      | 11.34%                | Yes           | 3                  | On Loan: No      |
| Nexgen Financial                                   | Nexgen Financial                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1525950.00   | 0.52%             | 2028-03-28      | Variable      | 16.41%                | Yes           | 3                  | On Loan: No      |
| ACORE Credit Partners II, LP                       | ACORE Credit Partners II, LP                       | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   9032710 | NS      | $9032709.62   | 3.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| IHC California LLC and Iron Horse Credit LLC       | IHC California LLC and Iron Horse Credit LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    297239 | PA      | $302143.24    | 0.10%             | 2027-06-30      | Floating      | 13.82%                | Yes           | 3                  | On Loan: No      |
| Royersford Industrial Senior Loan                  | Royersford Industrial Senior Loan                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1400000 | PA      | $1417500.00   | 0.48%             | 2025-12-23      | Fixed         | 14.00%                | Yes           | 3                  | On Loan: No      |
| Cirkul, Inc.                                       | Cirkul, Inc. Warrant Equity Value Strike           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6878 | NS      | $137.56       | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Cirkul, Inc.                                       | Cirkul, Inc.                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2516771 | PA      | $2434975.78   | 0.83%             | 2028-04-23      | Floating      | 15.39%                | Yes           | 3                  | On Loan: No      |
| Cliffhanger 2 Productions, LLC                     | Cliffhanger 2 Productions, LLC                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    750000 | PA      | $928125.00    | 0.32%             | 2025-10-31      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Eldridge Senior Credit Strategies Fund XIV, L.P.   | Eldridge Senior Credit Strategies Fund XIV, L.P.   | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |  19618622 | NS      | $19618621.79  | 6.71%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Rivers Investments, LLC                            | Rivers Investments, LLC                            | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |       796 | NS      | $839483.37    | 0.29%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ABC Technologies Inc.                              | ABC Technologies Inc.                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3032522 | PA      | $2942521.82   | 1.01%             | 2031-08-30      | Floating      | 12.39%                | Yes           | 3                  | On Loan: No      |
| Neo Finance SPV LLC                                | Neo Finance SPV LLC                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2500000 | PA      | $2500000.00   | 0.86%             | 2029-02-11      | Variable      | 13.78%                | Yes           | 3                  | On Loan: No      |
| KENNEDY LEWIS RESIDENTIAL PROPERTY INCOME CO LP    | KENNEDY LEWIS RESIDENTIAL PROPERTY INCOME CO LP    | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   7896188 | NS      | $7896188.29   | 2.70%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CALLODINE PERPETUAL ABL FUND, LP                   | CALLODINE PERPETUAL ABL FUND, LP                   | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   4743861 | NS      | $4743860.62   | 1.62%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Eagle Point Enhanced Income Fund US LP             | Eagle Point Enhanced Income Fund US LP             | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   4000000 | NS      | $4000000.00   | 1.37%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Wolfe Pond Park CLO                                | Wolfe Pond Park CLO                                | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2000000 | NS      | $2000000.00   | 0.68%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CR Steak LV LLC                                    | CR STEAK LV LLC                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    697500 | PA      | $693942.75    | 0.24%             | 2026-08-04      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| OD Intermediate SUBI Holdco VII LLC                | OD Intermediate SUBI Holdco VII LLC                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1518750.00   | 0.52%             | 2027-11-01      | Fixed         | 12.50%                | Yes           | 3                  | On Loan: No      |
| PFF, LLC                                           | PFF, LLC                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3000000 | PA      | $2992500.00   | 1.02%             | 2027-12-20      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| Raistone Purchasing LLC - Series XXXI              | Raistone Purchasing LLC - Series XXXI              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2120134 | PA      | $2101704.69   | 0.72%             | 2025-11-24      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Cashco Financial Inc.                              | Cashco Financial Inc.                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1521000.00   | 0.52%             | 2027-04-16      | Floating      | 14.25%                | Yes           | 3                  | On Loan: No      |
| Steno Agency Funding I, LLC                        | Steno Agency Funding I, LLC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2500000 | PA      | $2500000.00   | 0.86%             | 2028-05-08      | Floating      | 13.78%                | Yes           | 3                  | On Loan: No      |
| SP Technology Payments II, LLC                     | SP Technology Payments II, LLC                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   1578297 | NS      | $1578297.46   | 0.54%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Windsor Street Associates, LLC, et al.             | Windsor Street Associates, LLC, et al.             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.68%             | 2026-03-20      | Floating      | 11.44%                | Yes           | 3                  | On Loan: No      |
| BDP BLOOMFIELD AVENUE, LLC                         | BDP BLOOMFIELD AVENUE, LLC                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    800000 | PA      | $800000.00    | 0.27%             | 2026-07-01      | Floating      | 13.75%                | Yes           | 3                  | On Loan: No      |
| OnRamp Funding                                     | OnRamp Funding                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1511250.00   | 0.52%             | 2027-02-28      | Floating      | 16.16%                | Yes           | 3                  | On Loan: No      |
| Carlsbad 2525, LLC                                 | Carlsbad 2525, LLC                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $1990000.00   | 0.68%             | 2027-09-01      | Fixed         | 10.75%                | Yes           | 3                  | On Loan: No      |
| Yacht Management Services                          | Yacht Management Services                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    739571 | PA      | $385316.33    | 0.13%             | 2026-07-21      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| STONE POINT CREDIT INCOME FUND                     | STONE POINT CREDIT INCOME FUND                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | RF                | US        |    399389 | NS      | $10000298.80  | 3.42%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Dawson Portfolio Finance Evergreen LP              | Dawson Portfolio Finance Evergreen LP              | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |      7289 | NS      | $7500000.00   | 2.57%             |  |  |  | Yes           | 3                  | On Loan: No      |
| COLUMBIA HOLDINGS SC, LLC, LV PETROLEUM, LLC       | COLUMBIA HOLDINGS SC, LLC, LV PETROLEUM, LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1071429 | PA      | $1071428.54   | 0.37%             | 2025-11-30      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| Tampa Industrial Senior Loan                       | Tampa Industrial Senior Loan                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    250000 | PA      | $252225.00    | 0.09%             | 2026-02-28      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| Crestline Opportunity Fund V Offshore TE/SWF, L.P. | Crestline Opportunity Fund V Offshore TE/SWF, L.P. | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2729276 | NS      | $2729276.11   | 0.93%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Eagle Point Co-Invest II LP                        | Eagle Point Co-Invest II LP                        | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |    250000 | NS      | $250000.00    | 0.09%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Opus Trust I/II                                    | Opus Trust I/II                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2013200.00   | 0.69%             | 2026-02-23      | Floating      | 13.92%                | Yes           | 3                  | On Loan: No      |
| Huntington Holdings OR, LLC, LV Petroleum, LLC     | Huntington Holdings OR, LLC, LV Petroleum, LLC     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1215385 | PA      | $1215384.62   | 0.42%             | 2026-03-10      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| PFF, LLC                                           | PFF, LLC                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3000000 | PA      | $3000000.00   | 1.03%             | 2028-01-15      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| Fairbridge Partners L.P.                           | Fairbridge Partners L.P.                           | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2487843 | NS      | $2487842.66   | 0.85%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Medalist Partners, L.P.                            | Medalist Partners, L.P.                            | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |  19560101 | NS      | $19560100.78  | 6.69%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Bristol Industrial Senior Loan                     | Bristol Industrial Senior Loan                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1250000 | PA      | $1270875.00   | 0.43%             | 2026-01-01      | Fixed         | 15.00%                | Yes           | 3                  | On Loan: No      |
| Federal National Mortgage Association              | Fannie Mae REMICS                                  | CUSIP: 3136BPX48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1658594 | PA      | $1672862.70   | 0.57%             | 2050-06-25      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Future Family Loan Portfolio Class A               | Future Family Loan Portfolio Class A               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    649709 | PA      | $664327.12    | 0.23%             | 2030-05-16      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| Sezzle Inc.                                        | Sezzle Inc.                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1521000.00   | 0.52%             | 2027-04-19      | Floating      | 14.35%                | Yes           | 3                  | On Loan: No      |
| Almeda Holdings TX, LLC, LV Petroleum, LLC         | Almeda Holdings TX, LLC, LV Petroleum, LLC         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    969231 | PA      | $969230.76    | 0.33%             | 2026-02-28      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| Rock Springs Holdings WY, LLC, LV Petroleum, LLC   | Rock Springs Holdings WY, LLC, LV Petroleum, LLC   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    907692 | PA      | $907692.31    | 0.31%             | 2026-02-25      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| A. Stucki Company                                  | A. Stucki Company DDTL - FUNDED                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    400000 | PA      | $0.00         | 0.00%             | 2026-09-30      | Floating      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| EZ PAY SPE, LLC                                    | EZ PAY SPE, LLC                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.68%             | 2027-03-24      | Floating      | 14.95%                | Yes           | 3                  | On Loan: No      |
| Lake Summit Alternative Loan Trust 2025-1          | Lake Summit Alternative Loan Trust 2025-1          | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   4712864 | NS      | $4712863.65   | 1.61%             |  |  |  | Yes           | 3                  | On Loan: No      |
| 7023 Broward LLC Loan                              | 7023 Broward LLC Loan                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.68%             | 2027-01-25      | Floating      | 11.05%                | Yes           | 3                  | On Loan: No      |
| Vibrant CLO XIII Ltd                               | Vibrant CLO XIII Ltd                               | CUSIP: 92557CAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $510981.15    | 0.17%             | 2038-01-15      | Floating      | 11.91%                | Yes           | 2                  | On Loan: No      |
| AG Asset Based Credit Fund LP                      | AG Asset Based Credit Fund LP                      | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |  19598528 | NS      | $19598528.38  | 6.71%             |  |  |  | Yes           | N/A                | On Loan: No      |
| DRYDEN 123 CLO LTD                                 | Dryden 123 CLO Ltd                                 | CUSIP: 26253PAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1007040.70   | 0.34%             | 2038-04-15      | Floating      | 9.14%                 | Yes           | 2                  | On Loan: No      |
| CH SPV A Holding LLC                               | CH SPV A Holding LLC                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1513400.00   | 0.52%             | 2027-02-14      | Floating      | 14.91%                | Yes           | 3                  | On Loan: No      |
| 2 Hopmeadow Street Realty Co., LLC                 | 2 Hopmeadow Street Realty Co., LLC                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    500000 | PA      | $500450.00    | 0.17%             | 2025-10-06      | Floating      | 11.00%                | Yes           | 3                  | On Loan: No      |
| Saluda Grade Income Fund LP                        | Saluda Grade Income Fund LP                        | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   7059224 | NS      | $7059224.16   | 2.42%             |  |  |  | Yes           | N/A                | On Loan: No      |
| 40 Connecticut Ave Associates LLC                  | 40 Connecticut Ave Associates LLC                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    400000 | PA      | $400000.00    | 0.14%             | 2026-10-16      | Floating      | 11.00%                | Yes           | 3                  | On Loan: No      |
| Bastion Funding V LP                               | Bastion Funding V LP                               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2991197 | NS      | $2991196.70   | 1.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Butler Creek Owner, LLC                            | Butler Creek Owner, LLC                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.51%             | 2026-08-01      | Floating      | 11.25%                | Yes           | 3                  | On Loan: No      |
| Evolution Credit Partners Trade Finance Offshore   | Evolution Credit Partners Trade Finance Offshore   | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |  11937757 | NS      | $11937757.07  | 4.08%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Cedar Holdings (Offshore) LP - Subordinate Common  | Cedar Holdings (Offshore) LP - Subordinate Common  | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   1182484 | NS      | $1182484.45   | 0.40%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Fair State Mortgage Holdings, LLC                  | Fair State Mortgage Holdings, LLC                  | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2600000 | NS      | $2600000.00   | 0.89%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Riddick 4 Production LLC                           | Riddick 4 Production LLC                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    750000 | PA      | $868125.00    | 0.30%             | 2025-10-31      | Floating      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Blue Owl A4 Evergreen (Cayman) LP                  | Blue Owl A4 Evergreen (Cayman) LP                  | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |  11874790 | NS      | $11874790.37  | 4.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| BABSN 2022-4A ER                                   | Babson CLO Ltd                                     | CUSIP: 06763JAE2<br>LEI: 549300NRFNRCBGSJ3239 | Long             | ABS-CBDO         | CORP              | US        |    750000 | PA      | $761369.48    | 0.26%             | 2037-10-20      | Floating      | 11.08%                | Yes           | 2                  | On Loan: No      |
| LEARN Midco, LLC                                   | LEARN Midco, LLC                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1000000 | PA      | $975000.00    | 0.33%             | 2032-01-10      | Fixed         | 15.50%                | Yes           | 3                  | On Loan: No      |
| Maranon Loan Funding Ltd                           | Maranon Loan Funding Ltd                           | CUSIP: 565926AJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $509429.05    | 0.17%             | 2036-01-15      | Floating      | 14.32%                | Yes           | 2                  | On Loan: No      |
| Beezle Azul LLC                                    | Beezle Azul LLC                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    750000 | PA      | $750000.00    | 0.26%             | 2026-01-10      | Floating      | 10.50%                | Yes           | 3                  | On Loan: No      |
| R&R Clinton Ventures III                           | R&R Clinton Ventures III                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    500000 | PA      | $500450.00    | 0.17%             | 2026-10-06      | Floating      | 11.46%                | Yes           | 3                  | On Loan: No      |
| Government National Mortgage Association           | Government National Mortgage Association           | CUSIP: 38382P2H4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   4655951 | PA      | $434904.43    | 0.15%             | 2051-01-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| 28 Pearl Street Development LLC                    | 28 Pearl Street Development LLC                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.34%             | 2025-12-05      | Floating      | 10.50%                | Yes           | 3                  | On Loan: No      |
| RIVONIA ROAD FUND LP                               | RIVONIA ROAD FUND LP                               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   7038438 | NS      | $7038438.21   | 2.41%             |  |  |  | Yes           | N/A                | On Loan: No      |
| PFF, LLC                                           | PFF, LLC                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.68%             | 2029-05-23      | Fixed         | 14.50%                | Yes           | 3                  | On Loan: No      |
| ALLEGRO CLO VIII-S LTD                             | Allegro Clo VIII-S Ltd                             | CUSIP: 01751KAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    400000 | PA      | $402659.34    | 0.14%             | 2037-10-15      | Floating      | 10.86%                | Yes           | 2                  | On Loan: No      |
| First American Funds Inc.                          | First American Treasury Obligations Fund           | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  10754568 | PA      | $10754568.40  | 3.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Bojadzic Construction LLC                          | Bojadzic Construction LLC                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    540000 | PA      | $540000.00    | 0.18%             | 2025-10-07      | Floating      | 10.76%                | Yes           | 3                  | On Loan: No      |
| ALLEGRO CLO VIII-S LTD                             | Allegro Clo VIII-S Ltd                             | CUSIP: 01751KAL8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    600000 | PA      | $606400.65    | 0.21%             | 2037-10-15      | Floating      | 12.26%                | Yes           | 2                  | On Loan: No      |
| BLUEBERRY HILL II, LLC                             | BLUEBERRY HILL II, LLC                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    800000 | PA      | $800000.00    | 0.27%             | 2026-01-12      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** Nomura Alternative Income Fund

**Signature:** Madeline Arment

**Name of Signer:** Madeline Arment

**Title:** Treasurer