# EDGAR Filing Document

**Accession Number:** 0001767074
**File Stem:** 0000910472-26-003598
**Filing Date:** 2026-3
**Character Count:** 222259
**Document Hash:** 6a98010999ee767fa4d2016dc4f38233
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-003598.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000910472-26-003598

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CIM Real Assets & Credit Fund
- **CENTRAL INDEX KEY:** 0001767074

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23425
- **FILM NUMBER:** 26703957

**BUSINESS ADDRESS:**
- **STREET 1:** 4700 WILSHIRE BOULEVARD
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90010
- **BUSINESS PHONE:** 323-860-4900

**MAIL ADDRESS:**
- **STREET 1:** 4700 WILSHIRE BOULEVARD
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90010

## Nport-Ex

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund |  |  | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |
|  |  |  |  |  |  |  | &nbsp;&nbsp;December 31, 2025 (Unaudited) |
| &nbsp;&nbsp;**Shares** |  | &nbsp;&nbsp;**Spread** | &nbsp;&nbsp;**Coupon Rate (%)** | &nbsp;&nbsp;**Acquisition Date** | &nbsp;&nbsp;**Maturity Date** | &nbsp;&nbsp;**Amortized**<br> **Cost** | &nbsp;&nbsp; **Fair Value** |
|  | &nbsp;&nbsp;**Common Stock - 6.99%** |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Private - 6.99% <sup>(a),(c)</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;199 | &nbsp;&nbsp;Avison Young Common Equity <sup>(e)</sup> |  |  | &nbsp;&nbsp;3/12/2024 |  | &nbsp;&nbsp; $212208 | &nbsp;&nbsp; $- |
| &nbsp;&nbsp;288507 | &nbsp;&nbsp;Avison Young Preferred Equity (12.50% PIK) <sup>(l)</sup> |  |  | &nbsp;&nbsp;3/12/2024 |  | &nbsp;&nbsp; 213549 | &nbsp;&nbsp; 19948 |
| &nbsp;&nbsp;592033 | &nbsp;&nbsp;CGA Holdings, Inc., Class A <sup>(b),(e)</sup> |  |  | &nbsp;&nbsp;2/25/2022 |  | &nbsp;&nbsp; 592033 | &nbsp;&nbsp; 345505 |
| &nbsp;&nbsp;155086 | &nbsp;&nbsp;CGA Holdings, Inc., Class A Preferred <sup>(b)</sup> |  |  | &nbsp;&nbsp;3/3/2023 |  | &nbsp;&nbsp; 155086 | &nbsp;&nbsp; 163190 |
| &nbsp;&nbsp;213 | &nbsp;&nbsp;IENTC 1, LLC <sup>(d),(e)</sup> |  |  | &nbsp;&nbsp;3/31/2022 |  | &nbsp;&nbsp; 3773812 | &nbsp;&nbsp; 16873000 |
|  |  |  |  |  |  | &nbsp;&nbsp; 4946688 | &nbsp;&nbsp; 17401643 |
|  | &nbsp;&nbsp;**Real Estate Investment Trust - 0.00% <sup>(n)</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;1584 | &nbsp;&nbsp;Creative Media & Community Trust Corp. <sup>(f)</sup> |  |  | &nbsp;&nbsp;9/9/2021 |  | &nbsp;&nbsp; 2704716 | &nbsp;&nbsp; 5877 |
|  | &nbsp;&nbsp;**Total Common Stock** |  |  |  |  | &nbsp;&nbsp; 7651404 | &nbsp;&nbsp; 17407520 |
| &nbsp;&nbsp;**Principal Amount ($)** |  |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Bank Loans - 15.75%** |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Commercial Services & Supplies - 0.50%** |  |  |  |  |  |  |
| &nbsp;&nbsp;299835 | &nbsp;&nbsp;RideNow Group, Inc. Tenth Amendment Delayed Draw Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 7.750% | &nbsp;&nbsp;11.852 | &nbsp;&nbsp;8/31/2021 | &nbsp;&nbsp;9/30/2027 | &nbsp;&nbsp; 299123 | &nbsp;&nbsp; 288891 |
| &nbsp;&nbsp;993535 | &nbsp;&nbsp;RideNow Group, Inc. Tenth Amendment Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 7.750% | &nbsp;&nbsp;11.852 | &nbsp;&nbsp;8/31/2021 | &nbsp;&nbsp;9/30/2027 | &nbsp;&nbsp;978984 | &nbsp;&nbsp; 957271 |
|  |  |  |  |  |  | &nbsp;&nbsp; 1278107 | &nbsp;&nbsp; 1246162 |
|  | &nbsp;&nbsp;**Energy Equipment & Services - 1.10%** |  |  |  |  |  |  |
| &nbsp;&nbsp;2904080 | &nbsp;&nbsp;Exponential Power, Inc., Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 7.750% (6.75% Cash, 1.00% PIK) | &nbsp;&nbsp;12.013 | &nbsp;&nbsp;5/17/2023 | &nbsp;&nbsp;5/12/2026 | &nbsp;&nbsp; 2896315 | &nbsp;&nbsp; 2732739 |
|  | &nbsp;&nbsp;**Food & Beverage - 0.25%** |  |  |  |  |  |  |
| &nbsp;&nbsp;578231 | &nbsp;&nbsp;BCPE North Star US Holdco 2, Inc. 2L Term Loan <sup>(a),(c),(g)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 7.250% | &nbsp;&nbsp;11.280 | &nbsp;&nbsp;2/2/2022 | &nbsp;&nbsp;6/8/2029 | &nbsp;&nbsp; 572800 | &nbsp;&nbsp; 571845 |
| &nbsp;&nbsp;69475 | &nbsp;&nbsp;Naked Juice LLC Second Out Term Loan <sup>(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 3.250% | &nbsp;&nbsp;7.351 | &nbsp;&nbsp;4/21/2025 | &nbsp;&nbsp;1/24/2029 | &nbsp;&nbsp; 69276 | &nbsp;&nbsp; 46375 |
|  |  |  |  |  |  | &nbsp;&nbsp; 642076 | &nbsp;&nbsp; 618220 |
|  | &nbsp;&nbsp;**Health Care Equipment & Supplies - 0.89%** |  |  |  |  |  |  |
| &nbsp;&nbsp;163043 | &nbsp;&nbsp;Kreg LLC, Revolver <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 6.250% | &nbsp;&nbsp;10.357 | &nbsp;&nbsp;12/20/2021 | &nbsp;&nbsp;12/20/2026 | &nbsp;&nbsp; 163043 | &nbsp;&nbsp; 158478 |
| &nbsp;&nbsp;2114357 | &nbsp;&nbsp;Kreg LLC, Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 6.750% (6.25% Cash, 0.50% PIK) | &nbsp;&nbsp;10.901 | &nbsp;&nbsp;12/20/2021 | &nbsp;&nbsp;12/20/2026 | &nbsp;&nbsp; 2110659 | &nbsp;&nbsp; 2055155 |
|  |  |  |  |  |  | &nbsp;&nbsp; 2273702 | &nbsp;&nbsp; 2213633 |
|  | &nbsp;&nbsp;**Health Care Providers & Services - 8.01%** |  |  |  |  |  |  |
| &nbsp;&nbsp;580645 | &nbsp;&nbsp;Boca Home Care Holdings Revolver <sup>(a),(b),(c),(g),(h)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 6.500% | &nbsp;&nbsp;10.590 | &nbsp;&nbsp;2/25/2022 | &nbsp;&nbsp;2/25/2027 | &nbsp;&nbsp; 574839 | &nbsp;&nbsp; 580645 |
| &nbsp;&nbsp;4057984 | &nbsp;&nbsp;Boca Home Care Holdings, Inc Delayed Draw Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 6.500% | &nbsp;&nbsp;10.590 | &nbsp;&nbsp;2/25/2022 | &nbsp;&nbsp;2/25/2027 | &nbsp;&nbsp; 4038722 | &nbsp;&nbsp; 4057984 |
| &nbsp;&nbsp;285714 | &nbsp;&nbsp;CVAUSA Management, LLC, Revolver <sup>(a),(b),(c),(g),(h)</sup> | &nbsp;&nbsp;3M SOFR + 5.250% | &nbsp;&nbsp;0.500 | &nbsp;&nbsp;5/22/2023 | &nbsp;&nbsp;5/22/2028 | &nbsp;&nbsp; 285714 | &nbsp;&nbsp; 285714 |
| &nbsp;&nbsp;3650371 | &nbsp;&nbsp;CVAUSA Management, LLC, Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;1M SOFR + 5.250% | &nbsp;&nbsp;9.131 | &nbsp;&nbsp;5/22/2023 | &nbsp;&nbsp;5/22/2029 | &nbsp;&nbsp; 3621097 | &nbsp;&nbsp; 3686875 |
| &nbsp;&nbsp;698500 | &nbsp;&nbsp;Honor HN Buyer, Inc. Delayed Draw Term Loan 1 <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 5.750% | &nbsp;&nbsp;9.902 | &nbsp;&nbsp;10/15/2021 | &nbsp;&nbsp;10/15/2027 | &nbsp;&nbsp; 698500 | &nbsp;&nbsp; 698500 |
| &nbsp;&nbsp;777193 | &nbsp;&nbsp;Honor HN Buyer, Inc. Delayed Draw Term Loan 2 <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 5.750% | &nbsp;&nbsp;9.902 | &nbsp;&nbsp;3/31/2023 | &nbsp;&nbsp;10/15/2027 | &nbsp;&nbsp; 777193 | &nbsp;&nbsp; 777193 |
| &nbsp;&nbsp;132013 | &nbsp;&nbsp;Honor HN Buyer, Inc. Revolver <sup>(a),(b),(c),(g),(h)</sup> | &nbsp;&nbsp;Prime + 4.750% | &nbsp;&nbsp;11.500 | &nbsp;&nbsp;10/15/2021 | &nbsp;&nbsp;10/15/2027 | &nbsp;&nbsp; 132013 | &nbsp;&nbsp; 132013 |
| &nbsp;&nbsp;1104480 | &nbsp;&nbsp;Honor HN Buyer, Inc. Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 5.750% | &nbsp;&nbsp;9.902 | &nbsp;&nbsp;10/15/2021 | &nbsp;&nbsp;10/15/2027 | &nbsp;&nbsp; 1096940 | &nbsp;&nbsp; 1104480 |
| &nbsp;&nbsp;1026443 | &nbsp;&nbsp;MedMark Services, Inc., Delayed Draw Term Loan <sup>(a),(c),(g),(l)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 10.500% | &nbsp;&nbsp; - | &nbsp;&nbsp;9/30/2022 | &nbsp;&nbsp;6/11/2028 | &nbsp;&nbsp; 1026443 | &nbsp;&nbsp; 51322 |
| &nbsp;&nbsp;378788 | &nbsp;&nbsp;MedMark Services, Inc., Second Lien Term Loan <sup>(a),(c),(g),(l)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 10.500% | &nbsp;&nbsp; - | &nbsp;&nbsp;6/10/2021 | &nbsp;&nbsp;6/11/2028 | &nbsp;&nbsp; 376047 | &nbsp;&nbsp; 18939 |
| &nbsp;&nbsp;245574 | &nbsp;&nbsp;MEDRINA, LLC Delayed Draw Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;6M SOFR + 6.000% | &nbsp;&nbsp;10.224 | &nbsp;&nbsp;10/20/2023 | &nbsp;&nbsp;10/20/2029 | &nbsp;&nbsp; 245574 | &nbsp;&nbsp; 245574 |
| &nbsp;&nbsp;212766 | &nbsp;&nbsp;MEDRINA, LLC Revolver <sup>(a),(b),(c),(g),(h)</sup> | &nbsp;&nbsp;3M SOFR + 6.000% | &nbsp;&nbsp;0.500 | &nbsp;&nbsp;10/20/2023 | &nbsp;&nbsp;10/20/2029 | &nbsp;&nbsp; 207704 | &nbsp;&nbsp; 212766 |
| &nbsp;&nbsp;1463298 | &nbsp;&nbsp;MEDRINA, LLC Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;6M SOFR + 6.000% | &nbsp;&nbsp;9.693 | &nbsp;&nbsp;10/20/2023 | &nbsp;&nbsp;10/20/2029 | &nbsp;&nbsp; 1437129 | &nbsp;&nbsp; 1463298 |
| &nbsp;&nbsp;333333 | &nbsp;&nbsp;One GI Intermediate LLC, Revolver Upsize <sup>(a),(b),(c),(g),(l)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 6.750% | &nbsp;&nbsp; - | &nbsp;&nbsp;12/13/2021 | &nbsp;&nbsp;2/9/2026 | &nbsp;&nbsp; 333333 | &nbsp;&nbsp; 303000 |
| &nbsp;&nbsp;1684375 | &nbsp;&nbsp;One GI Intermediate LLC, Tranche B Delayed Draw Term Loan <sup>(a),(b),(c),(g),(l)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 6.750% | &nbsp;&nbsp; - | &nbsp;&nbsp;12/13/2021 | &nbsp;&nbsp;2/9/2026 | &nbsp;&nbsp; 1680217 | &nbsp;&nbsp; 1531097 |
| &nbsp;&nbsp;887792 | &nbsp;&nbsp;One GI Intermediate LLC, Tranche C Delayed Draw Term Loan <sup>(a),(b),(c),(g),(l)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 6.750% | &nbsp;&nbsp; - | &nbsp;&nbsp;12/13/2021 | &nbsp;&nbsp;2/9/2026 | &nbsp;&nbsp; 887792 | &nbsp;&nbsp; 807003 |
| &nbsp;&nbsp;3972558 | &nbsp;&nbsp;Spectrum Vision Holdings, LLC Seventeenth Amendment Term Loan Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 6.500% | &nbsp;&nbsp;10.605 | &nbsp;&nbsp;5/2/2023 | &nbsp;&nbsp;11/17/2026 | &nbsp;&nbsp; 3970008 | &nbsp;&nbsp; 3972558 |
|  |  |  |  |  |  | &nbsp;&nbsp; 21389265 | &nbsp;&nbsp; 19928961 |
|  | &nbsp;&nbsp;**Professional Services - 2.63%** |  |  |  |  |  |  |
| &nbsp;&nbsp;3737415 | &nbsp;&nbsp;24 Seven, Inc., Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 7.125% | &nbsp;&nbsp;10.955 | &nbsp;&nbsp;1/28/2022 | &nbsp;&nbsp;11/16/2027 | &nbsp;&nbsp; 3722445 | &nbsp;&nbsp; 3726202 |
| &nbsp;&nbsp;329292 | &nbsp;&nbsp;24 Seven Holdco, LLC 2023 Incremental Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 7.125% | &nbsp;&nbsp;10.955 | &nbsp;&nbsp;3/1/2023 | &nbsp;&nbsp;11/16/2027 | &nbsp;&nbsp; 323727 | &nbsp;&nbsp; 328304 |
| &nbsp;&nbsp;2431250 | &nbsp;&nbsp;AIDC Intermediate Co. 2, LLC, Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;1M SOFR + 5.250% | &nbsp;&nbsp;9.166 | &nbsp;&nbsp;7/22/2022 | &nbsp;&nbsp;7/22/2027 | &nbsp;&nbsp; 2414081 | &nbsp;&nbsp; 2428819 |
| &nbsp;&nbsp;56867 | &nbsp;&nbsp;AIDC Intermediate Co. 2, Incremental Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;1M SOFR + 5.250% | &nbsp;&nbsp;9.166 | &nbsp;&nbsp;7/31/2023 | &nbsp;&nbsp;7/22/2027 | &nbsp;&nbsp; 56274 | &nbsp;&nbsp; 56810 |
|  |  |  |  |  |  | &nbsp;&nbsp; 6516527 | &nbsp;&nbsp; 6540135 |
|  | &nbsp;&nbsp;**Real Estate Related Services - 0.14%** |  |  |  |  |  |  |
| &nbsp;&nbsp;280951 | &nbsp;&nbsp;Avison Young Canada, Inc., 2nd PIK Term Loan <sup>(a),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 8.000% (6.50% PIK, 1.50% Cash) | &nbsp;&nbsp; 11.995 | &nbsp;&nbsp;3/12/2024 | &nbsp;&nbsp;3/12/2029 | &nbsp;&nbsp; 280951 | &nbsp;&nbsp; 244146 |
| &nbsp;&nbsp;44856 | &nbsp;&nbsp;Avison Young Canada, Inc., 3rd PIK Lien Term Loan <sup>(a),(c),(g),(l)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 8.000% (6.50% PIK, 1.50% Cash) | &nbsp;&nbsp; - | &nbsp;&nbsp;3/12/2024 | &nbsp;&nbsp;3/12/2029 | &nbsp;&nbsp; 44070 | &nbsp;&nbsp; 34001 |
| &nbsp;&nbsp;5813 | &nbsp;&nbsp;Avison Young Delayed Draw New Loan Commitment <sup>(a),(c),(g),(h)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 8.500% (8.50% PIK) | &nbsp;&nbsp; - | &nbsp;&nbsp;12/18/2025 | &nbsp;&nbsp;12/12/2027 | &nbsp;&nbsp; 5813 | &nbsp;&nbsp; 5894 |
| &nbsp;&nbsp;39527 | &nbsp;&nbsp;Avison Young New Rollup Loan <sup>(a),(c),(g)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 7.350% (5.85% PIK, 1.50% Cash) | &nbsp;&nbsp; 11.199 | &nbsp;&nbsp;12/18/2025 | &nbsp;&nbsp;12/12/2027 | &nbsp;&nbsp; 39527 | &nbsp;&nbsp; 40080 |
| &nbsp;&nbsp;13951 | &nbsp;&nbsp;Avison Young Initial New Loan Commitment <sup>(a),(c),(g)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 8.500% (8.50% PIK) | &nbsp;&nbsp; 12.349 | &nbsp;&nbsp;12/18/2025 | &nbsp;&nbsp;12/12/2027 | &nbsp;&nbsp; 13951 | &nbsp;&nbsp; 14146 |
|  |  |  |  |  |  | &nbsp;&nbsp; 384312 | &nbsp;&nbsp; 338267 |
|  | &nbsp;&nbsp;**Software - 2.23%** |  |  |  |  |  |  |
| &nbsp;&nbsp;3412836 | &nbsp;&nbsp;EOS-Metasource Intermediate, Inc., Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 6.750% (6.25% Cash, 0.50% PIK) | &nbsp;&nbsp; 11.013 | &nbsp;&nbsp;5/17/2022 | &nbsp;&nbsp;5/17/2027 | &nbsp;&nbsp; 3401370 | &nbsp;&nbsp; 3310451 |
| &nbsp;&nbsp;147059 | &nbsp;&nbsp;Shiftkey, Revolver <sup>(a),(b),(c),(g),(h)</sup> | &nbsp;&nbsp;3M SOFR + 5.750% | &nbsp;&nbsp;0.500 | &nbsp;&nbsp;6/21/2022 | &nbsp;&nbsp;6/21/2027 | &nbsp;&nbsp; 147059 | &nbsp;&nbsp; 141324 |
| &nbsp;&nbsp;2169082 | &nbsp;&nbsp;Shiftkey, Term Loan <sup>(a),(b),(c),(g)</sup> | &nbsp;&nbsp;3M SOFR + CSA + 6.250% (5.75% Cash, 0.50% PIK) | &nbsp;&nbsp;10.513 | &nbsp;&nbsp;6/21/2022 | &nbsp;&nbsp;6/21/2027 | &nbsp;&nbsp; 2161559 | &nbsp;&nbsp; 2084488 |
|  |  |  |  |  |  | &nbsp;&nbsp; 5709988 | &nbsp;&nbsp; 5536263 |
|  | &nbsp;&nbsp;**Total Bank Loans** |  |  |  |  | &nbsp;&nbsp; 41090292 | &nbsp;&nbsp; 39154380 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |
|  |  |  |  |  |  |  | &nbsp;&nbsp;December 31, 2025 (Unaudited) (Continued) |
| &nbsp;&nbsp;**Principal Amount ($)** |  | &nbsp;&nbsp;**Spread** | &nbsp;&nbsp;**Coupon Rate (%)** | &nbsp;&nbsp;**Acquisition Date** | &nbsp;&nbsp;**Maturity Date** | &nbsp;&nbsp;**Amortized Cost** | &nbsp;&nbsp; **Fair Value** |
|  | &nbsp;&nbsp;**Collateralized Loan Obligations - Debt - 21.39% <sup>(c),(g)</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Allegro CLO Ltd., 2020-1A, Class ER <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 7.400% | &nbsp;&nbsp;11.270 | &nbsp;&nbsp;7/12/2024 | &nbsp;&nbsp;7/21/2037 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $989225 |
| &nbsp;&nbsp;3000000 | &nbsp;&nbsp;Atlas Senior Loan Fund Ltd., 2022-20A, Class ER | &nbsp;&nbsp;3M SOFR + 8.100% | &nbsp;&nbsp;11.984 | &nbsp;&nbsp;9/25/2024 | &nbsp;&nbsp;10/19/2037 | &nbsp;&nbsp; 2918167 | &nbsp;&nbsp; 3004299 |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;Atlas Senior Loan Fund Ltd., 2024-23A, Class E <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 7.130% | &nbsp;&nbsp;11.014 | &nbsp;&nbsp;5/31/2024 | &nbsp;&nbsp;7/20/2037 | &nbsp;&nbsp; 1961553 | &nbsp;&nbsp; 2041952 |
| &nbsp;&nbsp;2450000 | &nbsp;&nbsp;Bardin Hill CLO Ltd., 2021 2A, Class E <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 7.960% | &nbsp;&nbsp;11.820 | &nbsp;&nbsp;6/4/2024 | &nbsp;&nbsp;10/25/2034 | &nbsp;&nbsp; 2450000 | &nbsp;&nbsp; 2456602 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Barings Middle Market CLO, Ltd. 2021-I, Class D | &nbsp;&nbsp;3M SOFR + CSA + 8.650% | &nbsp;&nbsp;12.796 | &nbsp;&nbsp;6/30/2021 | &nbsp;&nbsp;7/20/2033 | &nbsp;&nbsp; 995002 | &nbsp;&nbsp; 1009500 |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;Birch Grove CLO Ltd., 2019A, Class ERR <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 6.940% | &nbsp;&nbsp;10.822 | &nbsp;&nbsp;4/23/2024 | &nbsp;&nbsp;7/17/2037 | &nbsp;&nbsp; 1984489 | &nbsp;&nbsp; 1980000 |
| &nbsp;&nbsp;2500000 | &nbsp;&nbsp;BRTPT 2023-1A ER <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 7.100% | &nbsp;&nbsp;10.958 | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;7/26/2038 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2538389 |
| &nbsp;&nbsp;4250000 | &nbsp;&nbsp;Carlyle Global Market Strategies, 2022-4A, Class ER | &nbsp;&nbsp;3M SOFR + 6.750% | &nbsp;&nbsp;10.608 | &nbsp;&nbsp;7/12/2024 | &nbsp;&nbsp;7/25/2036 | &nbsp;&nbsp; 4250000 | &nbsp;&nbsp; 4312563 |
| &nbsp;&nbsp;5285000 | &nbsp;&nbsp;CFIP CLO Ltd., 2017-1A, Class ER | &nbsp;&nbsp;3M SOFR + CSA + 7.300% | &nbsp;&nbsp;11.446 | &nbsp;&nbsp;4/8/2022 | &nbsp;&nbsp;10/18/2034 | &nbsp;&nbsp; 5144824 | &nbsp;&nbsp; 5100180 |
| &nbsp;&nbsp;9100000 | &nbsp;&nbsp;Elevation CLO Ltd., 2022-16, Class E | &nbsp;&nbsp;3M SOFR + 8.300% | &nbsp;&nbsp;12.158 | &nbsp;&nbsp;6/2/2022 | &nbsp;&nbsp;7/25/2034 | &nbsp;&nbsp; 8915956 | &nbsp;&nbsp; 9069599 |
| &nbsp;&nbsp;3000000 | &nbsp;&nbsp;Gallatin Funding Ltd 2024-1A, Class E <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 8.000% | &nbsp;&nbsp;11.884 | &nbsp;&nbsp;10/24/2024 | &nbsp;&nbsp;10/20/2037 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3072855 |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;Harvest US CLO Ltd 2024-2A, Class E <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 6.900% | &nbsp;&nbsp;10.805 | &nbsp;&nbsp;8/1/2024 | &nbsp;&nbsp;10/15/2037 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2047120 |
| &nbsp;&nbsp;1250000 | &nbsp;&nbsp;LCM Ltd Partnership, 31A, Class ER <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 7.250% | &nbsp;&nbsp;11.134 | &nbsp;&nbsp;7/1/2024 | &nbsp;&nbsp;7/20/2034 | &nbsp;&nbsp; 1209708 | &nbsp;&nbsp; 1106130 |
| &nbsp;&nbsp;6000000 | &nbsp;&nbsp;LCM Ltd Partnership 38A ER2 <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 7.410% | &nbsp;&nbsp;11.275 | &nbsp;&nbsp;10/22/2025 | &nbsp;&nbsp;11/4/2038 | &nbsp;&nbsp; 5882599 | &nbsp;&nbsp; 5973392 |
| &nbsp;&nbsp;1600000 | &nbsp;&nbsp;MCF CLO VII LLC <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 7.000% | &nbsp;&nbsp;10.884 | &nbsp;&nbsp;7/18/2025 | &nbsp;&nbsp;7/20/2037 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1630940 |
| &nbsp;&nbsp;2250000 | &nbsp;&nbsp;Northwoods Capital Ltd. 2021-25A, Class E | &nbsp;&nbsp;3M SOFR + CSA + 7.140% | &nbsp;&nbsp;11.286 | &nbsp;&nbsp;6/25/2021 | &nbsp;&nbsp;7/20/2034 | &nbsp;&nbsp; 2209517 | &nbsp;&nbsp; 2234306 |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;PPM CLO Ltd. ,2022-6AR, Class ER <sup>(m)</sup> | &nbsp;&nbsp;3M SOFR + 8.960% | &nbsp;&nbsp;12.844 | &nbsp;&nbsp;12/1/2023 | &nbsp;&nbsp;1/20/2037 | &nbsp;&nbsp; 1949191 | &nbsp;&nbsp; 2011690 |
| &nbsp;&nbsp;2000000 | &nbsp;&nbsp;Saratoga Investment Corp. CLO Ltd., 2013-1, Class F1R3 | &nbsp;&nbsp;3M SOFR + CSA + 10.000% | &nbsp;&nbsp;14.146 | &nbsp;&nbsp;8/10/2021 | &nbsp;&nbsp;4/20/2033 | &nbsp;&nbsp; 1999744 | &nbsp;&nbsp; 1070311 |
| &nbsp;&nbsp;3000000 | &nbsp;&nbsp;Venture CDO, Ltd., 2022-45A, Class E <sup>(b)</sup> | &nbsp;&nbsp;3M SOFR + 7.700% | &nbsp;&nbsp;11.584 | &nbsp;&nbsp;4/18/2022 | &nbsp;&nbsp;7/20/2035 | &nbsp;&nbsp; 2958447 | &nbsp;&nbsp; 1567057 |
|  | &nbsp;&nbsp;**Total Collateralized Loan Obligations - Debt** |  |  |  |  | &nbsp;&nbsp; 54929197 | &nbsp;&nbsp; 53216110 |
|  | &nbsp;&nbsp;**Collateralized Loan Obligations - Equity - 12.14% <sup>(a),(b),(c),(i)</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;4681654 | &nbsp;&nbsp;Allegro CLO Ltd., 2022-1A, Class SUB |  | &nbsp;&nbsp;19.787 | &nbsp;&nbsp;4/29/2022 | &nbsp;&nbsp;4/20/2038 | &nbsp;&nbsp; 2976728 | &nbsp;&nbsp; 2724072 |
| &nbsp;&nbsp;3329823 | &nbsp;&nbsp;Allegro CLO Ltd., 2025-2A, Class SUB |  | &nbsp;&nbsp;14.550 | &nbsp;&nbsp;5/8/2025 | &nbsp;&nbsp;7/25/2038 | &nbsp;&nbsp; 2696271 | &nbsp;&nbsp; 2583260 |
| &nbsp;&nbsp;2980000 | &nbsp;&nbsp;Apex Credit CLO LLC 2021-1A, Class SUB |  | &nbsp;&nbsp;6.509 | &nbsp;&nbsp;5/28/2021 | &nbsp;&nbsp;7/18/2034 | &nbsp;&nbsp; 1899195 | &nbsp;&nbsp; 1136271 |
| &nbsp;&nbsp;7305491 | &nbsp;&nbsp;Apex Credit Clo 13A SUB Ltd <sup>(o)</sup> |  | &nbsp;&nbsp;0.000 | &nbsp;&nbsp;12/19/2025 | &nbsp;&nbsp;1/22/2039 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6000000 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Ares LV CLO Ltd. |  | &nbsp;&nbsp;19.036 | &nbsp;&nbsp;11/19/2025 | &nbsp;&nbsp;10/15/2037 | &nbsp;&nbsp; 631987 | &nbsp;&nbsp; 624621 |
| &nbsp;&nbsp;3000000 | &nbsp;&nbsp;Atlas Senior Loan Fund Ltd., 2021-17A, Class SUB |  | &nbsp;&nbsp;10.492 | &nbsp;&nbsp;9/20/2021 | &nbsp;&nbsp;10/20/2034 | &nbsp;&nbsp; 1967069 | &nbsp;&nbsp; 1196211 |
| &nbsp;&nbsp;2585233 | &nbsp;&nbsp;Brightwood Capital MM CLO Ltd., 2023-1A, Class Sub1 |  | &nbsp;&nbsp;24.496 | &nbsp;&nbsp;9/8/2023 | &nbsp;&nbsp;10/15/2035 | &nbsp;&nbsp; 2011160 | &nbsp;&nbsp; 2077951 |
| &nbsp;&nbsp;5500000 | &nbsp;&nbsp;Dryden Senior Loan Fund 2022-98A, Class SUB |  | &nbsp;&nbsp;5.178 | &nbsp;&nbsp;2/3/2022 | &nbsp;&nbsp;4/20/2035 | &nbsp;&nbsp; 3866805 | &nbsp;&nbsp; 2295662 |
| &nbsp;&nbsp;3750000 | &nbsp;&nbsp;Elevation CLO Ltd., 2018-3A, Class SUB <sup>(p)</sup> |  | &nbsp;&nbsp; - | &nbsp;&nbsp;12/6/2021 | &nbsp;&nbsp;1/25/2035 | &nbsp;&nbsp; 2296883 | &nbsp;&nbsp; 1050796 |
| &nbsp;&nbsp;4396000 | &nbsp;&nbsp;Empower CLO Ltd., 2024-1A Class SUB |  | &nbsp;&nbsp;7.485 | &nbsp;&nbsp;2/7/2024 | &nbsp;&nbsp;4/25/2037 | &nbsp;&nbsp; 3343301 | &nbsp;&nbsp; 2140109 |
| &nbsp;&nbsp;7650000 | &nbsp;&nbsp;Empower CLO Ltd., 2024-2A, Class SUB |  | &nbsp;&nbsp;8.743 | &nbsp;&nbsp;5/24/2024 | &nbsp;&nbsp;7/15/2037 | &nbsp;&nbsp; 6385883 | &nbsp;&nbsp; 4344925 |
| &nbsp;&nbsp;250000 | &nbsp;&nbsp;LCM Ltd. Partnership 2031A, Class INC |  | &nbsp;&nbsp;0.189 | &nbsp;&nbsp;12/18/2020 | &nbsp;&nbsp;7/20/2034 | &nbsp;&nbsp; 139727 | &nbsp;&nbsp; 43081 |
| &nbsp;&nbsp;2750000 | &nbsp;&nbsp;Marble Point CLO XXI, Ltd., 2021-3A, Class INC <sup>(p)</sup> |  | &nbsp;&nbsp; - | &nbsp;&nbsp;8/24/2021 | &nbsp;&nbsp;10/17/2034 | &nbsp;&nbsp; 1772181 | &nbsp;&nbsp; 789619 |
| &nbsp;&nbsp;1950000 | &nbsp;&nbsp;Regatta XIX Funding Ltd. REG19 2022-1A SUB |  | &nbsp;&nbsp;19.432 | &nbsp;&nbsp;11/7/2025 | &nbsp;&nbsp;10/20/2038 | &nbsp;&nbsp; 1221848 | &nbsp;&nbsp; 1214887 |
| &nbsp;&nbsp;6339779 | &nbsp;&nbsp;Steele Creek CLO Ltd., 2022-1, Class SUB |  | &nbsp;&nbsp;5.623 | &nbsp;&nbsp;3/1/2022 | &nbsp;&nbsp;4/15/2038 | &nbsp;&nbsp; 3870247 | &nbsp;&nbsp; 1932859 |
| &nbsp;&nbsp;2300000 | &nbsp;&nbsp;Trinitas CLO Ltd., 2018-8A, Class SUB <sup>(p)</sup> |  | &nbsp;&nbsp; - | &nbsp;&nbsp;3/4/2021 | &nbsp;&nbsp;7/20/2117 | &nbsp;&nbsp; 1080053 | &nbsp;&nbsp; 56449 |
|  | &nbsp;&nbsp;**Total Collateralized Loan Obligations - Equity** |  |  |  |  | &nbsp;&nbsp; 42159338 | &nbsp;&nbsp; 30210773 |
| &nbsp;&nbsp;**Principal Amount ($)** |  |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Commercial Mortgage-Backed Securities - 27.22% <sup>(c)</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;3000000 | &nbsp;&nbsp;Atrium Hotel Portfolio Trust Class D <sup>(m)</sup> |  | &nbsp;&nbsp;7.935 | &nbsp;&nbsp;10/7/2024 | &nbsp;&nbsp;10/10/2039 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3063917 |
| &nbsp;&nbsp;8580000 | &nbsp;&nbsp;BRES Commercial Mortgage Trust 2025-ATCAP, Class A <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 1.494% | &nbsp;&nbsp;5.244 | &nbsp;&nbsp;10/16/2025 | &nbsp;&nbsp;11/15/2042 | &nbsp;&nbsp; 8558683 | &nbsp;&nbsp; 8593138 |
| &nbsp;&nbsp;2785000 | &nbsp;&nbsp;BRES Commercial Mortgage Trust 2025-ATCAP, Class E <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 3.641% | &nbsp;&nbsp;7.391 | &nbsp;&nbsp;10/16/2025 | &nbsp;&nbsp;11/15/2042 | &nbsp;&nbsp; 2778072 | &nbsp;&nbsp; 2781798 |
| &nbsp;&nbsp;958285 | &nbsp;&nbsp;BX 2025-BCAT, Class D <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 2.650% | &nbsp;&nbsp;6.400 | &nbsp;&nbsp;7/31/2025 | &nbsp;&nbsp;8/15/2042 | &nbsp;&nbsp; 958285 | &nbsp;&nbsp; 959921 |
| &nbsp;&nbsp;3860000 | &nbsp;&nbsp;BX 2025-OMG, Class F <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 3.650% | &nbsp;&nbsp;7.351 | &nbsp;&nbsp;9/30/2025 | &nbsp;&nbsp;10/15/2042 | &nbsp;&nbsp; 3860000 | &nbsp;&nbsp; 3860093 |
| &nbsp;&nbsp;2978534 | &nbsp;&nbsp;BXSC Commercial Mortgage Trust 2022-WSS, Class F <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 5.329% | &nbsp;&nbsp;9.080 | &nbsp;&nbsp;4/4/2024 | &nbsp;&nbsp;3/15/2035 | &nbsp;&nbsp; 2966811 | &nbsp;&nbsp; 2978573 |
| &nbsp;&nbsp;4215633 | &nbsp;&nbsp;Campus Drive Secured Lease-Backed Pass-Though Trust, Series C <sup>(a)</sup> |  | &nbsp;&nbsp;6.912 | &nbsp;&nbsp;10/17/2022 | &nbsp;&nbsp;6/15/2058 | &nbsp;&nbsp; 3603298 | &nbsp;&nbsp; 2722477 |
| &nbsp;&nbsp;4500000 | &nbsp;&nbsp;CXP Trust 2022-CXP1, Class E <sup>(a),(l)</sup> |  | &nbsp;&nbsp; - | &nbsp;&nbsp;9/2/2022 | &nbsp;&nbsp;12/15/2038 | &nbsp;&nbsp; 4222496 | &nbsp;&nbsp; 320400 |
| &nbsp;&nbsp;1500000 | &nbsp;&nbsp;CXP Trust 2022-CXP1, Class F <sup>(a),(l)</sup> |  | &nbsp;&nbsp; - | &nbsp;&nbsp;9/2/2022 | &nbsp;&nbsp;12/15/2038 | &nbsp;&nbsp; 1388519 | &nbsp;&nbsp; - |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;DK 2025-LXP, Class D <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 2.891% | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;8/12/2025 | &nbsp;&nbsp;8/15/2037 | &nbsp;&nbsp; 997647 | &nbsp;&nbsp; 1002547 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Extended Stay America Trust 2025-ESH, Class F <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 4.100% | &nbsp;&nbsp;7.850 | &nbsp;&nbsp;9/26/2025 | &nbsp;&nbsp;10/15/2042 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1009153 |
| &nbsp;&nbsp;2500000 | &nbsp;&nbsp;HTL Commercial Mortgage Trust 2024-T53, Class D <sup>(m)</sup> |  | &nbsp;&nbsp;8.471 | &nbsp;&nbsp;4/3/2024 | &nbsp;&nbsp;5/10/2039 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2561492 |
| &nbsp;&nbsp;2298834 | &nbsp;&nbsp;La Quinta Mortgage Trust 2023-LAQ, Class D <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 4.188% | &nbsp;&nbsp;7.939 | &nbsp;&nbsp;3/3/2023 | &nbsp;&nbsp;3/15/2036 | &nbsp;&nbsp; 2296060 | &nbsp;&nbsp; 2313884 |
| &nbsp;&nbsp;2707210 | &nbsp;&nbsp;MCR Mortgage Trust 2024-HF1, Class E <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 4.190% | &nbsp;&nbsp;7.940 | &nbsp;&nbsp;11/8/2024 | &nbsp;&nbsp;12/15/2041 | &nbsp;&nbsp; 2701674 | &nbsp;&nbsp; 2713182 |
| &nbsp;&nbsp;3000000 | &nbsp;&nbsp;NYC Commercial Mortgage Trust 2025- 11X, Class D <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 3.191% | &nbsp;&nbsp;6.941 | &nbsp;&nbsp;10/10/2025 | &nbsp;&nbsp;10/15/2037 | &nbsp;&nbsp; 2992576 | &nbsp;&nbsp; 3010348 |
| &nbsp;&nbsp;3000000 | &nbsp;&nbsp;NYC Commercial Mortgage Trust 2025-28L, Class E <sup>(m)</sup> |  | &nbsp;&nbsp;7.490 | &nbsp;&nbsp;10/23/2025 | &nbsp;&nbsp;11/5/2038 | &nbsp;&nbsp; 2989902 | &nbsp;&nbsp; 3006262 |
| &nbsp;&nbsp;3000000 | &nbsp;&nbsp;NYC Commercial Mortgage Trust 2025-28L, Class F <sup>(m)</sup> |  | &nbsp;&nbsp;8.990 | &nbsp;&nbsp;10/23/2025 | &nbsp;&nbsp;11/5/2038 | &nbsp;&nbsp; 2989895 | &nbsp;&nbsp; 3025703 |
| &nbsp;&nbsp;3710000 | &nbsp;&nbsp;One New York Plaza Trust 2020-1NYP, Class B <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 1.500% | &nbsp;&nbsp;5.573 | &nbsp;&nbsp;11/3/2022 | &nbsp;&nbsp;1/15/2036 | &nbsp;&nbsp; 3705585 | &nbsp;&nbsp; 3587256 |
| &nbsp;&nbsp;1811000 | &nbsp;&nbsp;TWO VA Repack Trust B2, Class B2 <sup>(a),(e),(j)</sup> |  | &nbsp;&nbsp;0.000 | &nbsp;&nbsp;7/30/2020 | &nbsp;&nbsp;11/15/2033 | &nbsp;&nbsp; 915575 | &nbsp;&nbsp; 853372 |
| &nbsp;&nbsp;156370 | &nbsp;&nbsp;VA Gilbert AZ Subordinated Note Lease-Backed Pass - Through Trust <sup>(a)</sup> |  | &nbsp;&nbsp;12.997 | &nbsp;&nbsp;6/8/2020 | &nbsp;&nbsp;3/15/2034 | &nbsp;&nbsp; 185463 | &nbsp;&nbsp; 184144 |
| &nbsp;&nbsp;3500000 | &nbsp;&nbsp;VTR Commercial Mortgage Trust 2025-STEM, Class C <sup>(m)</sup> |  | &nbsp;&nbsp;6.057 | &nbsp;&nbsp;9/25/2025 | &nbsp;&nbsp;10/15/2039 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3514176 |
| &nbsp;&nbsp;4010000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust 2021-FCMT, Class D <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 3.500% | &nbsp;&nbsp;7.365 | &nbsp;&nbsp;12/20/2022 | &nbsp;&nbsp;5/15/2031 | &nbsp;&nbsp; 3951527 | &nbsp;&nbsp; 4022257 |
| &nbsp;&nbsp;1000000 | &nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust 2021-FCMT, Class F <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + CSA + 5.900% | &nbsp;&nbsp;9.765 | &nbsp;&nbsp;4/28/2021 | &nbsp;&nbsp;5/15/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 986466 |
| &nbsp;&nbsp;6560583 | &nbsp;&nbsp;WMRK Commercial Mortgage Trust 2022-WMRK, Class E <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 5.676% | &nbsp;&nbsp;9.426 | &nbsp;&nbsp;10/27/2022 | &nbsp;&nbsp;11/15/2035 | &nbsp;&nbsp; 6542046 | &nbsp;&nbsp; 6627069 |
| &nbsp;&nbsp;4000000 | &nbsp;&nbsp;WCORE Commercial Mortgage Trust 2024-CORE, Class E <sup>(g),(m)</sup> | &nbsp;&nbsp;1M SOFR + 3.939% | &nbsp;&nbsp;7.689 | &nbsp;&nbsp;10/29/2024 | &nbsp;&nbsp;11/15/2041 | &nbsp;&nbsp; 3992239 | &nbsp;&nbsp; 4012641 |
|  | &nbsp;&nbsp;**Total Commercial Mortgage-Backed Securities** |  |  |  |  | &nbsp;&nbsp; 73596353 | &nbsp;&nbsp; 67710269 |
| &nbsp;&nbsp;**Cost Basis ($)** |  |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Direct Real Estate - 38.42% <sup>(a)</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;6038003 | &nbsp;&nbsp;1902 Park Avenue <sup>(d)</sup> |  |  | &nbsp;&nbsp;2/28/2023 |  | &nbsp;&nbsp; 6038003 | &nbsp;&nbsp; 5930892 |
| &nbsp;&nbsp;5107443 | &nbsp;&nbsp;3816-3822 W Jefferson Blvd |  |  | &nbsp;&nbsp;8/25/2022 |  | &nbsp;&nbsp; 5107443 | &nbsp;&nbsp; 3832964 |
| &nbsp;&nbsp;4590582 | &nbsp;&nbsp;4707 W Jefferson Blvd |  |  | &nbsp;&nbsp;6/15/2022 |  | &nbsp;&nbsp; 4590582 | &nbsp;&nbsp; 3442196 |
| &nbsp;&nbsp;5058174 | &nbsp;&nbsp;4901 W Jefferson Blvd |  |  | &nbsp;&nbsp;6/7/2022 |  | &nbsp;&nbsp; 5058174 | &nbsp;&nbsp; 5051589 |
| &nbsp;&nbsp;21757138 | &nbsp;&nbsp;Del Mar Terrace <sup>(d)</sup> |  |  | &nbsp;&nbsp;2/14/2022 |  | &nbsp;&nbsp; 21757138 | &nbsp;&nbsp; 6802159 |
| &nbsp;&nbsp;13701343 | &nbsp;&nbsp;EPIC <sup>(d)</sup> |  |  | &nbsp;&nbsp;6/4/2021 |  | &nbsp;&nbsp; 13701343 | &nbsp;&nbsp; 13166792 |
| &nbsp;&nbsp;11380384 | &nbsp;&nbsp;127, 165 & 171 S. La Brea |  |  | &nbsp;&nbsp;12/13/2024 |  | &nbsp;&nbsp; 11380384 | &nbsp;&nbsp; 14742411 |
| &nbsp;&nbsp;4620782 | &nbsp;&nbsp;101 N. & 145 S. La Brea |  |  | &nbsp;&nbsp;12/13/2024 |  | &nbsp;&nbsp; 4620782 | &nbsp;&nbsp; 6224007 |
| &nbsp;&nbsp;42347166 | &nbsp;&nbsp;Sora |  |  | &nbsp;&nbsp;12/17/2021 |  | &nbsp;&nbsp; 42347166 | &nbsp;&nbsp; 31471962 |
| &nbsp;&nbsp;5151761 | &nbsp;&nbsp;Vale at the Parks <sup>(d)</sup> |  |  | &nbsp;&nbsp;7/27/2021 |  | &nbsp;&nbsp; 5151761 | &nbsp;&nbsp; 4923216 |
|  | &nbsp;&nbsp;**Total Direct Real Estate** |  |  |  |  | &nbsp;&nbsp; 119752776 | &nbsp;&nbsp; 95588188 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |
|  |  |  |  |  |  |  | &nbsp;&nbsp;December 31, 2025 (Unaudited) (Continued) |
| &nbsp;&nbsp;**Principal Amount ($)** |  |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Loan Accumulation Facility - 2.35%** |  |  |  |  |  |  |
| &nbsp;&nbsp;5883721 | &nbsp;&nbsp;Apex Credit CLO 2025-I Subordinated - First Loss <sup>(a),(b),(c)</sup> |  | &nbsp;&nbsp;15.500 | &nbsp;&nbsp;9/9/2025 | &nbsp;&nbsp;10/21/2026 | &nbsp;&nbsp; $5883721 | &nbsp;&nbsp; $5839005 |
|  | &nbsp;&nbsp;**Total Loan Accumulation Facilities** |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Real Estate-Related Loans - 6.16% <sup>(a),(c),(d),(g)</sup>** |  |  |  |  |  |  |
| &nbsp;&nbsp;10181371 | &nbsp;&nbsp;Society Las Olas - PMG Greybook Riverfront I LLC | &nbsp;&nbsp;1M SOFR + 1.470% | &nbsp;&nbsp;5.572 | &nbsp;&nbsp;9/23/2021 | &nbsp;&nbsp;3/6/2026 | &nbsp;&nbsp; 10181181 | &nbsp;&nbsp;10178918 |
| &nbsp;&nbsp;5151984 | &nbsp;&nbsp;Society Las Olas 301 - S 1st Avenue Holdings LLC | &nbsp;&nbsp;1M SOFR + 6.823% | &nbsp;&nbsp;10.925 | &nbsp;&nbsp;6/7/2022 | &nbsp;&nbsp;3/6/2026 | &nbsp;&nbsp; 5151984 | &nbsp;&nbsp; 5150743 |
|  | &nbsp;&nbsp;**Total Real Estate-Related Loans** |  |  |  |  | &nbsp;&nbsp; 15333165 | &nbsp;&nbsp;15329661 |
| &nbsp;&nbsp;**Shares** |  | &nbsp;&nbsp;**Expiration Date** | &nbsp;&nbsp;**Strike Price** | &nbsp;&nbsp;**Acquisition Date** |  | &nbsp;&nbsp;**Amortized Cost** | &nbsp;&nbsp; **Fair Value** |
|  | &nbsp;&nbsp;**Warrant — 0.01%** |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Commercial Services & Supplies - 0.01%** |  |  |  |  |  |  |
| &nbsp;&nbsp;7576 | &nbsp;&nbsp;RideNow Group, Inc. <sup>(a),(b),(e)</sup> | &nbsp;&nbsp;8/14/2028 | &nbsp;&nbsp;$33.00 | &nbsp;&nbsp;8/31/2021 |  | &nbsp;&nbsp; 83469 | &nbsp;&nbsp;28485 |
|  | &nbsp;&nbsp;**Total Warrant** |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Short-Term Investments - 2.99%** |  |  |  |  |  |  |
|  | &nbsp;&nbsp;**Money Market Funds - 2.99%** |  |  |  |  |  |  |
| &nbsp;&nbsp;4270799 | &nbsp;&nbsp;First American Treasury Obligations Fund, Class Z, 3.64% <sup>(k)</sup> |  |  |  |  | &nbsp;&nbsp; 4270799 | &nbsp;&nbsp;4270799 |
| &nbsp;&nbsp;3173148 | &nbsp;&nbsp;Fidelity Treasury Portfolio, Class I, 3.66% <sup>(k)</sup> |  |  |  |  | &nbsp;&nbsp; 3173148 | &nbsp;&nbsp;3173148 |
|  | &nbsp;&nbsp;**Total Short-Term Investments** |  |  |  |  | &nbsp;&nbsp; 7443947 | &nbsp;&nbsp;7443947 |
|  | &nbsp;&nbsp;**Total Investments - 133.42%** |  |  |  |  | &nbsp;&nbsp; $367923662 | &nbsp;&nbsp; $331928338 |
|  | &nbsp;&nbsp;**Liabilities in Excess of Other Assets - (33.42%)** |  |  |  |  |  | &nbsp;&nbsp;(83144576) |
|  | &nbsp;&nbsp;**Net Assets 100.00%** |  |  |  |  |  | &nbsp;&nbsp; $248783762 |
| &nbsp;&nbsp;<sup>(a)</sup> | &nbsp;&nbsp;Fair value of this security was determined using significant, unobservable inputs and was determined in accordance with Rule 2a-5 under the Investment Company Act of 1940, as amended (the "1940 Act"), and as such, is categorized as Level 3 on the Fair Value Hierarchy. | &nbsp;&nbsp;Fair value of this security was determined using significant, unobservable inputs and was determined in accordance with Rule 2a-5 under the Investment Company Act of 1940, as amended (the "1940 Act"), and as such, is categorized as Level 3 on the Fair Value Hierarchy. | &nbsp;&nbsp;Fair value of this security was determined using significant, unobservable inputs and was determined in accordance with Rule 2a-5 under the Investment Company Act of 1940, as amended (the "1940 Act"), and as such, is categorized as Level 3 on the Fair Value Hierarchy. | &nbsp;&nbsp;Fair value of this security was determined using significant, unobservable inputs and was determined in accordance with Rule 2a-5 under the Investment Company Act of 1940, as amended (the "1940 Act"), and as such, is categorized as Level 3 on the Fair Value Hierarchy. | &nbsp;&nbsp;Fair value of this security was determined using significant, unobservable inputs and was determined in accordance with Rule 2a-5 under the Investment Company Act of 1940, as amended (the "1940 Act"), and as such, is categorized as Level 3 on the Fair Value Hierarchy. | &nbsp;&nbsp;Fair value of this security was determined using significant, unobservable inputs and was determined in accordance with Rule 2a-5 under the Investment Company Act of 1940, as amended (the "1940 Act"), and as such, is categorized as Level 3 on the Fair Value Hierarchy. | &nbsp;&nbsp;Fair value of this security was determined using significant, unobservable inputs and was determined in accordance with Rule 2a-5 under the Investment Company Act of 1940, as amended (the "1940 Act"), and as such, is categorized as Level 3 on the Fair Value Hierarchy. |
| &nbsp;&nbsp;<sup>(b)</sup> | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the U.S. Securities and Exchange Commission ("SEC") on August 4, 2020, that is advised by the OFS Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the U.S. Securities and Exchange Commission ("SEC") on August 4, 2020, that is advised by the OFS Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the U.S. Securities and Exchange Commission ("SEC") on August 4, 2020, that is advised by the OFS Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the U.S. Securities and Exchange Commission ("SEC") on August 4, 2020, that is advised by the OFS Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the U.S. Securities and Exchange Commission ("SEC") on August 4, 2020, that is advised by the OFS Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the U.S. Securities and Exchange Commission ("SEC") on August 4, 2020, that is advised by the OFS Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the U.S. Securities and Exchange Commission ("SEC") on August 4, 2020, that is advised by the OFS Adviser. |
| &nbsp;&nbsp;<sup>(c)</sup> | &nbsp;&nbsp;These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act of 1933, as amended. As of December 31, 2025, the aggregate fair value of these securities was $228,861,841, representing 91.99% of the Fund's net assets. | &nbsp;&nbsp;These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act of 1933, as amended. As of December 31, 2025, the aggregate fair value of these securities was $228,861,841, representing 91.99% of the Fund's net assets. | &nbsp;&nbsp;These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act of 1933, as amended. As of December 31, 2025, the aggregate fair value of these securities was $228,861,841, representing 91.99% of the Fund's net assets. | &nbsp;&nbsp;These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act of 1933, as amended. As of December 31, 2025, the aggregate fair value of these securities was $228,861,841, representing 91.99% of the Fund's net assets. | &nbsp;&nbsp;These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act of 1933, as amended. As of December 31, 2025, the aggregate fair value of these securities was $228,861,841, representing 91.99% of the Fund's net assets. | &nbsp;&nbsp;These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act of 1933, as amended. As of December 31, 2025, the aggregate fair value of these securities was $228,861,841, representing 91.99% of the Fund's net assets. | &nbsp;&nbsp;These investments are generally subject to certain limitations on resale, and may be deemed to be "restricted securities" under the Securities Act of 1933, as amended. As of December 31, 2025, the aggregate fair value of these securities was $228,861,841, representing 91.99% of the Fund's net assets. |
| &nbsp;&nbsp;<sup>(d)</sup> | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the SEC on August 4, 2020, that is advised by the CIM Sub-Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the SEC on August 4, 2020, that is advised by the CIM Sub-Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the SEC on August 4, 2020, that is advised by the CIM Sub-Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the SEC on August 4, 2020, that is advised by the CIM Sub-Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the SEC on August 4, 2020, that is advised by the CIM Sub-Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the SEC on August 4, 2020, that is advised by the CIM Sub-Adviser. | &nbsp;&nbsp;A co-investment with an affiliate, completed under an order for exemptive relief granted by the SEC on August 4, 2020, that is advised by the CIM Sub-Adviser. |
| &nbsp;&nbsp;<sup>(e)</sup> | &nbsp;&nbsp;Non-income producing security. | &nbsp;&nbsp;Non-income producing security. | &nbsp;&nbsp;Non-income producing security. | &nbsp;&nbsp;Non-income producing security. | &nbsp;&nbsp;Non-income producing security. | &nbsp;&nbsp;Non-income producing security. | &nbsp;&nbsp;Non-income producing security. |
| &nbsp;&nbsp;<sup>(f)</sup> | &nbsp;&nbsp;Investment in affiliate. | &nbsp;&nbsp;Investment in affiliate. | &nbsp;&nbsp;Investment in affiliate. | &nbsp;&nbsp;Investment in affiliate. | &nbsp;&nbsp;Investment in affiliate. | &nbsp;&nbsp;Investment in affiliate. | &nbsp;&nbsp;Investment in affiliate. |
| &nbsp;&nbsp;<sup>(g)</sup> | &nbsp;&nbsp;Variable or floating rate security. The rate in effect as of December 31, 2025 is based on the reference rate plus the displayed spread as of the security's last reset date. | &nbsp;&nbsp;Variable or floating rate security. The rate in effect as of December 31, 2025 is based on the reference rate plus the displayed spread as of the security's last reset date. | &nbsp;&nbsp;Variable or floating rate security. The rate in effect as of December 31, 2025 is based on the reference rate plus the displayed spread as of the security's last reset date. | &nbsp;&nbsp;Variable or floating rate security. The rate in effect as of December 31, 2025 is based on the reference rate plus the displayed spread as of the security's last reset date. | &nbsp;&nbsp;Variable or floating rate security. The rate in effect as of December 31, 2025 is based on the reference rate plus the displayed spread as of the security's last reset date. | &nbsp;&nbsp;Variable or floating rate security. The rate in effect as of December 31, 2025 is based on the reference rate plus the displayed spread as of the security's last reset date. | &nbsp;&nbsp;Variable or floating rate security. The rate in effect as of December 31, 2025 is based on the reference rate plus the displayed spread as of the security's last reset date. |
| &nbsp;&nbsp;<sup>(h)</sup> | &nbsp;&nbsp;This Investment or portion thereof was not funded as of December 31, 2025. The Fund had $1,245,896 at par value in unfunded commitments as of December 31, 2025. | &nbsp;&nbsp;This Investment or portion thereof was not funded as of December 31, 2025. The Fund had $1,245,896 at par value in unfunded commitments as of December 31, 2025. | &nbsp;&nbsp;This Investment or portion thereof was not funded as of December 31, 2025. The Fund had $1,245,896 at par value in unfunded commitments as of December 31, 2025. | &nbsp;&nbsp;This Investment or portion thereof was not funded as of December 31, 2025. The Fund had $1,245,896 at par value in unfunded commitments as of December 31, 2025. | &nbsp;&nbsp;This Investment or portion thereof was not funded as of December 31, 2025. The Fund had $1,245,896 at par value in unfunded commitments as of December 31, 2025. | &nbsp;&nbsp;This Investment or portion thereof was not funded as of December 31, 2025. The Fund had $1,245,896 at par value in unfunded commitments as of December 31, 2025. | &nbsp;&nbsp;This Investment or portion thereof was not funded as of December 31, 2025. The Fund had $1,245,896 at par value in unfunded commitments as of December 31, 2025. |
| &nbsp;&nbsp;<sup>(i)</sup> | &nbsp;&nbsp;Collateralized loan obligation ("CLO") subordinated notes are residual positions in the CLO vehicle. CLO subordinated notes are entitled to distributions that are generally equal to the residual cash flows of the underlying securities less contractual payments to debt holders and fund expenses. The effective yield is estimated based upon the amount and timing of these distributions in addition to the estimated amount of terminal distribution. Effective yields for the CLO equity positions are updated generally once a quarter in connection with a transaction, such as an add-on purchase, refinancing or reset. The estimated yield and investment cost may ultimately not be realized. Estimated yields are periodically adjusted based on information reported by the CLO as of the date of determination. | &nbsp;&nbsp;Collateralized loan obligation ("CLO") subordinated notes are residual positions in the CLO vehicle. CLO subordinated notes are entitled to distributions that are generally equal to the residual cash flows of the underlying securities less contractual payments to debt holders and fund expenses. The effective yield is estimated based upon the amount and timing of these distributions in addition to the estimated amount of terminal distribution. Effective yields for the CLO equity positions are updated generally once a quarter in connection with a transaction, such as an add-on purchase, refinancing or reset. The estimated yield and investment cost may ultimately not be realized. Estimated yields are periodically adjusted based on information reported by the CLO as of the date of determination. | &nbsp;&nbsp;Collateralized loan obligation ("CLO") subordinated notes are residual positions in the CLO vehicle. CLO subordinated notes are entitled to distributions that are generally equal to the residual cash flows of the underlying securities less contractual payments to debt holders and fund expenses. The effective yield is estimated based upon the amount and timing of these distributions in addition to the estimated amount of terminal distribution. Effective yields for the CLO equity positions are updated generally once a quarter in connection with a transaction, such as an add-on purchase, refinancing or reset. The estimated yield and investment cost may ultimately not be realized. Estimated yields are periodically adjusted based on information reported by the CLO as of the date of determination. | &nbsp;&nbsp;Collateralized loan obligation ("CLO") subordinated notes are residual positions in the CLO vehicle. CLO subordinated notes are entitled to distributions that are generally equal to the residual cash flows of the underlying securities less contractual payments to debt holders and fund expenses. The effective yield is estimated based upon the amount and timing of these distributions in addition to the estimated amount of terminal distribution. Effective yields for the CLO equity positions are updated generally once a quarter in connection with a transaction, such as an add-on purchase, refinancing or reset. The estimated yield and investment cost may ultimately not be realized. Estimated yields are periodically adjusted based on information reported by the CLO as of the date of determination. | &nbsp;&nbsp;Collateralized loan obligation ("CLO") subordinated notes are residual positions in the CLO vehicle. CLO subordinated notes are entitled to distributions that are generally equal to the residual cash flows of the underlying securities less contractual payments to debt holders and fund expenses. The effective yield is estimated based upon the amount and timing of these distributions in addition to the estimated amount of terminal distribution. Effective yields for the CLO equity positions are updated generally once a quarter in connection with a transaction, such as an add-on purchase, refinancing or reset. The estimated yield and investment cost may ultimately not be realized. Estimated yields are periodically adjusted based on information reported by the CLO as of the date of determination. | &nbsp;&nbsp;Collateralized loan obligation ("CLO") subordinated notes are residual positions in the CLO vehicle. CLO subordinated notes are entitled to distributions that are generally equal to the residual cash flows of the underlying securities less contractual payments to debt holders and fund expenses. The effective yield is estimated based upon the amount and timing of these distributions in addition to the estimated amount of terminal distribution. Effective yields for the CLO equity positions are updated generally once a quarter in connection with a transaction, such as an add-on purchase, refinancing or reset. The estimated yield and investment cost may ultimately not be realized. Estimated yields are periodically adjusted based on information reported by the CLO as of the date of determination. | &nbsp;&nbsp;Collateralized loan obligation ("CLO") subordinated notes are residual positions in the CLO vehicle. CLO subordinated notes are entitled to distributions that are generally equal to the residual cash flows of the underlying securities less contractual payments to debt holders and fund expenses. The effective yield is estimated based upon the amount and timing of these distributions in addition to the estimated amount of terminal distribution. Effective yields for the CLO equity positions are updated generally once a quarter in connection with a transaction, such as an add-on purchase, refinancing or reset. The estimated yield and investment cost may ultimately not be realized. Estimated yields are periodically adjusted based on information reported by the CLO as of the date of determination. |
| &nbsp;&nbsp;<sup>(j)</sup> | &nbsp;&nbsp;Zero coupon bond. | &nbsp;&nbsp;Zero coupon bond. |  |  |  |  |  |
| &nbsp;&nbsp;<sup>(k)</sup> | &nbsp;&nbsp;Rate disclosed is the seven day effective yield as of December 31, 2025. | &nbsp;&nbsp;Rate disclosed is the seven day effective yield as of December 31, 2025. | &nbsp;&nbsp;Rate disclosed is the seven day effective yield as of December 31, 2025. | &nbsp;&nbsp;Rate disclosed is the seven day effective yield as of December 31, 2025. | &nbsp;&nbsp;Rate disclosed is the seven day effective yield as of December 31, 2025. | &nbsp;&nbsp;Rate disclosed is the seven day effective yield as of December 31, 2025. | &nbsp;&nbsp;Rate disclosed is the seven day effective yield as of December 31, 2025. |
| &nbsp;&nbsp;<sup>(l)</sup> | &nbsp;&nbsp;Investment was on non-accrual status as of December 31, 2025. Interest payments subsequently received on non-accrual investments, if any, will be recognized as income when received or applied to cost depending upon management's judgment. | &nbsp;&nbsp;Investment was on non-accrual status as of December 31, 2025. Interest payments subsequently received on non-accrual investments, if any, will be recognized as income when received or applied to cost depending upon management's judgment. | &nbsp;&nbsp;Investment was on non-accrual status as of December 31, 2025. Interest payments subsequently received on non-accrual investments, if any, will be recognized as income when received or applied to cost depending upon management's judgment. | &nbsp;&nbsp;Investment was on non-accrual status as of December 31, 2025. Interest payments subsequently received on non-accrual investments, if any, will be recognized as income when received or applied to cost depending upon management's judgment. | &nbsp;&nbsp;Investment was on non-accrual status as of December 31, 2025. Interest payments subsequently received on non-accrual investments, if any, will be recognized as income when received or applied to cost depending upon management's judgment. | &nbsp;&nbsp;Investment was on non-accrual status as of December 31, 2025. Interest payments subsequently received on non-accrual investments, if any, will be recognized as income when received or applied to cost depending upon management's judgment. | &nbsp;&nbsp;Investment was on non-accrual status as of December 31, 2025. Interest payments subsequently received on non-accrual investments, if any, will be recognized as income when received or applied to cost depending upon management's judgment. |
| &nbsp;&nbsp;<sup>(m)</sup> | &nbsp;&nbsp;All or a portion of the security is pledged as collateral for open reverse repurchase agreements. | &nbsp;&nbsp;All or a portion of the security is pledged as collateral for open reverse repurchase agreements. | &nbsp;&nbsp;All or a portion of the security is pledged as collateral for open reverse repurchase agreements. | &nbsp;&nbsp;All or a portion of the security is pledged as collateral for open reverse repurchase agreements. | &nbsp;&nbsp;All or a portion of the security is pledged as collateral for open reverse repurchase agreements. | &nbsp;&nbsp;All or a portion of the security is pledged as collateral for open reverse repurchase agreements. | &nbsp;&nbsp;All or a portion of the security is pledged as collateral for open reverse repurchase agreements. |
| &nbsp;&nbsp;<sup>(n)</sup> | &nbsp;&nbsp;Percentage rounds to less than 0.01%. | &nbsp;&nbsp;Percentage rounds to less than 0.01%. | &nbsp;&nbsp;Percentage rounds to less than 0.01%. | &nbsp;&nbsp;Percentage rounds to less than 0.01%. | &nbsp;&nbsp;Percentage rounds to less than 0.01%. | &nbsp;&nbsp;Percentage rounds to less than 0.01%. | &nbsp;&nbsp;Percentage rounds to less than 0.01%. |
| &nbsp;&nbsp;<sup>(o)</sup> | &nbsp;&nbsp;Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. |
| &nbsp;&nbsp;<sup>(p)</sup> | &nbsp;&nbsp;As of December 31, 2025, the effective accretable yield has been estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidations of the underlying portfolio upon the security's anticipated redemption, is equal to or less than current amortized cost. Projected distributions are monitored and re-evaluated quarterly. All actual distributions received will be recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security's then-current amortized cost, at which point the Company would resume recognizing income based on the updated effective accretable yield. | &nbsp;&nbsp;As of December 31, 2025, the effective accretable yield has been estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidations of the underlying portfolio upon the security's anticipated redemption, is equal to or less than current amortized cost. Projected distributions are monitored and re-evaluated quarterly. All actual distributions received will be recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security's then-current amortized cost, at which point the Company would resume recognizing income based on the updated effective accretable yield. | &nbsp;&nbsp;As of December 31, 2025, the effective accretable yield has been estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidations of the underlying portfolio upon the security's anticipated redemption, is equal to or less than current amortized cost. Projected distributions are monitored and re-evaluated quarterly. All actual distributions received will be recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security's then-current amortized cost, at which point the Company would resume recognizing income based on the updated effective accretable yield. | &nbsp;&nbsp;As of December 31, 2025, the effective accretable yield has been estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidations of the underlying portfolio upon the security's anticipated redemption, is equal to or less than current amortized cost. Projected distributions are monitored and re-evaluated quarterly. All actual distributions received will be recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security's then-current amortized cost, at which point the Company would resume recognizing income based on the updated effective accretable yield. | &nbsp;&nbsp;As of December 31, 2025, the effective accretable yield has been estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidations of the underlying portfolio upon the security's anticipated redemption, is equal to or less than current amortized cost. Projected distributions are monitored and re-evaluated quarterly. All actual distributions received will be recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security's then-current amortized cost, at which point the Company would resume recognizing income based on the updated effective accretable yield. | &nbsp;&nbsp;As of December 31, 2025, the effective accretable yield has been estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidations of the underlying portfolio upon the security's anticipated redemption, is equal to or less than current amortized cost. Projected distributions are monitored and re-evaluated quarterly. All actual distributions received will be recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security's then-current amortized cost, at which point the Company would resume recognizing income based on the updated effective accretable yield. | &nbsp;&nbsp;As of December 31, 2025, the effective accretable yield has been estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidations of the underlying portfolio upon the security's anticipated redemption, is equal to or less than current amortized cost. Projected distributions are monitored and re-evaluated quarterly. All actual distributions received will be recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security's then-current amortized cost, at which point the Company would resume recognizing income based on the updated effective accretable yield. |

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| |
|:---|
| &nbsp;&nbsp;Abbreviations; |
| &nbsp;&nbsp;CSA - Security has a credit spread adjustment to account for the difference between London Interbank Offered Rate ("LIBOR") and SOFR. |
| &nbsp;&nbsp;PIK - Payment-in-kind security for which interest is paid in cash or additional principal. |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund |  | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |
|  |  |  |  |  |  | December 31, 2025 (Unaudited) |
| **Reverse Repurchase Agreement** |  |  |  |  |  |  |
| **Counterparty** | **Interest Rate** | **Trade Date** | **Maturity Date** | **Collateral Fair Value** | **Principal Amount** | **Value** |
| JP Morgan | 1M SOFR + 1.15% | 12/15/2025 | 1/15/2026 | $3063917 | $2592000 | $2592000 |
| JP Morgan | 1M SOFR + 0.65% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8593138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7722000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7722000 |
| JP Morgan | 1M SOFR + 1.30% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2083000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2083000 |
| JP Morgan | 1M SOFR + 1.15% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769000 |
| JP Morgan | 1M SOFR + 1.30% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3860093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702000 |
| JP Morgan | 1M SOFR + 1.40% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2978573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807000 |
| JP Morgan | 1M SOFR + 1.10% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852000 |
| JP Morgan | 1M SOFR + 1.30% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758000 |
| JP Morgan | 1M SOFR + 1.15% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2561492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2045000 |
| JP Morgan | 1M SOFR + 1.15% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2313884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1960000 |
| JP Morgan | 1M SOFR + 1.30% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2713182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256000 |
| JP Morgan | 1M SOFR + 1.10% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3010348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556000 |
| JP Morgan | 1M SOFR + 1.10% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3006262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397000 |
| JP Morgan | 1M SOFR + 1.30% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3025703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 |
| JP Morgan | 1M SOFR + 1.05% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3587256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2661000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2661000 |
| JP Morgan | 1M SOFR + 1.00% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3514176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995000 |
| JP Morgan | 1M SOFR + 1.30% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4012641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3007000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3007000 |
| JP Morgan | 1M SOFR + 1.10% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4022257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3015000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629000 |
| JP Morgan | 1M SOFR + 1.30% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6627069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2041952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2047120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1106130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2456602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3072855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2289000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2289000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5973392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4453000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4453000 |
| JP Morgan | 1M SOFR + 1.35% | 12/15/2025 | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210000 |
| **Total Reverse Repurchase Agreements** | **Total Reverse Repurchase Agreements** |  |  |  |  | $68984000 |
| Reference Rate: |  |  |  |  |  |  |
| 1M SOFR - 1 Month SOFR as of December 31, 2025 was 3.68751%. | 1M SOFR - 1 Month SOFR as of December 31, 2025 was 3.68751%. | 1M SOFR - 1 Month SOFR as of December 31, 2025 was 3.68751%. |  |  |  |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |
|  |  |  |  |  |  |  | &nbsp;&nbsp;December 31, 2025 (Unaudited) |
| &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** |  |  |  |  | &nbsp;&nbsp; **Net Unrealized** |
|  |  | &nbsp;&nbsp;**Notional** |  | &nbsp;&nbsp;**Payment** | &nbsp;&nbsp;**Termination** |  | &nbsp;&nbsp; **Appreciation** |
| &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Reference Entity/Obligation** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Fund Pays** | &nbsp;&nbsp;**Frequency** | &nbsp;&nbsp;**Date** | &nbsp;&nbsp; **Fair Value** | &nbsp;&nbsp; **(Depreciation)** |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;1011778 B.C. Unlimited Liability Company, Term B-6 Loan, 1M SOFR + 1.75% | &nbsp;&nbsp; $472106 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/20/2030 | &nbsp;&nbsp; $473879 | &nbsp;&nbsp; $1655 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;84 Lumber Company, Term B-1 Loan, 1M SOFR + 2.25% | &nbsp;&nbsp; 27526 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/1/2030 | &nbsp;&nbsp; 27889 | &nbsp;&nbsp; 363 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;ABG Intermediate Holdings 2 LLC, 2024-1 Refinancing Term Loan (First Lien), 1M SOFR + 2.25% | &nbsp;&nbsp; 675706 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/21/2028 | &nbsp;&nbsp; 685987 | &nbsp;&nbsp; 8339 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Academy, LTD., Initial Term Loan (2021), 1M SOFR + CSA + 3.75% <sup>(b)</sup> | &nbsp;&nbsp; 253581 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/5/2027 | &nbsp;&nbsp; 252962 | &nbsp;&nbsp; 234 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Acuren, Amendment No. 1 Term Loan, 1M SOFR + 2.75% | &nbsp;&nbsp; 126532 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/30/2031 | &nbsp;&nbsp; 127346 | &nbsp;&nbsp; 815 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;ADMI Corp., Amendment No. 5 Incremental Term Loan, 1M SOFR + CSA + 3.75% | &nbsp;&nbsp; 501184 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/23/2027 | &nbsp;&nbsp; 479147 | &nbsp;&nbsp; (23394) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Advantage Sales & Marketing Inc., Term B-2 Loan (First Lien), 3M SOFR + CSA + 4.25% | &nbsp;&nbsp; 737893 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/28/2027 | &nbsp;&nbsp; 617248 | &nbsp;&nbsp; (120646) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Agco Grain & Protein, Initial Term Loan, 3M SOFR + 5.00% <sup>(b)</sup> | &nbsp;&nbsp; 190686 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/31/2031 | &nbsp;&nbsp; 194561 | &nbsp;&nbsp; 3627 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Ahead DB Holdings, 2024 Incremental Term Loan (First Lien), 3M SOFR + 2.75% | &nbsp;&nbsp; 76156 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/3/2031 | &nbsp;&nbsp; 76551 | &nbsp;&nbsp; 349 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;AHP Health Partners, 2025 Term B Loan, 1M SOFR + 2.25% | &nbsp;&nbsp; 367092 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/10/2032 | &nbsp;&nbsp; 368584 | &nbsp;&nbsp; 1467 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;AL GCX Holdings LLC, Term Loan B 2025, 1M SOFR + 2.25% <sup>(b)</sup> | &nbsp;&nbsp; 249375 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/13/2032 | &nbsp;&nbsp; 250548 | &nbsp;&nbsp; 1172 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;AL GCX VIII Holdings, Initial Term Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 66888 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/27/2032 | &nbsp;&nbsp; 67097 | &nbsp;&nbsp; 188 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;AlixPartners, 2025 Refinancing Dollar Term Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 225975 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/12/2032 | &nbsp;&nbsp; 227193 | &nbsp;&nbsp; 1194 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Allen Media, LLC, Initial Term Loan (2021), 3M SOFR + CSA + 5.50% <sup>(b)</sup> | &nbsp;&nbsp; 1462809 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/10/2027 | &nbsp;&nbsp; 1045546 | &nbsp;&nbsp; (428183) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Allied Universal, Amendment No. 7 Replacement U.S. Dollar Term Loan, 1M SOFR + 3.25% | &nbsp;&nbsp; 332917 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/6/2032 | &nbsp;&nbsp; 335468 | &nbsp;&nbsp; 2537 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Allison Transmission, Term Loan B 2025 <sup>(c)</sup> | &nbsp;&nbsp; 79800 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/5/2032 | &nbsp;&nbsp; 80517 | &nbsp;&nbsp; 717 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Amawaterways, Second Amendment Incremental Term Loan, 1M SOFR + 3.00% | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/1/2031 | &nbsp;&nbsp; 181204 | &nbsp;&nbsp; 1155 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;AMENTUM GOVERNMENT SERVICES HOLDINGS LLC, Initial Term Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 392571 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/29/2031 | &nbsp;&nbsp; 394247 | &nbsp;&nbsp; 1664 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;American Airlines, Inc., Third Amendment Replacement Term Loan, 6M SOFR + 2.25% | &nbsp;&nbsp; 269500 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/4/2029 | &nbsp;&nbsp; 272946 | &nbsp;&nbsp; 2430 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;American Airlines, Inc., 2024 Replacement Term Loan, 6M SOFR + 2.25% | &nbsp;&nbsp; 488482 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/15/2028 | &nbsp;&nbsp; 491788 | &nbsp;&nbsp; 2886 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;American Axle & Manufacturing, Inc., New Tranche B Term Loan, SOFR + 3.00% <sup>(d)</sup> | &nbsp;&nbsp; 967686 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/6/2029 | &nbsp;&nbsp; 982914 | &nbsp;&nbsp; 11625 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;AmWins Group/American Wholesale Insurance Holding Company, LLC Initial Term Loan, 3M SOFR + 2.25% | &nbsp;&nbsp; 528672 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/28/2032 | &nbsp;&nbsp; 531453 | &nbsp;&nbsp; 2697 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;AP Core Holdings II, LLC, Term B-1 Loan (First Lien), 1M SOFR + CSA + 5.50% | &nbsp;&nbsp; 631187 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/1/2027 | &nbsp;&nbsp; 641120 | &nbsp;&nbsp; 3789 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Apple Bidco, LLC, Amendment No. 5 Term Loan (First Lien), 1M SOFR + 2.50% | &nbsp;&nbsp; 924616 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/22/2031 | &nbsp;&nbsp; 931515 | &nbsp;&nbsp; 6786 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Arches Buyer Inc., Refinancing Term Loan, 1M SOFR + CSA + 3.25% | &nbsp;&nbsp; 816995 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/6/2027 | &nbsp;&nbsp; 829323 | &nbsp;&nbsp; 7294 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;ARCLINE FM HLDGS, LLC, 2025-1 New Term Loan (First Lien), 3M SOFR + 2.75% <sup>(c)</sup> | &nbsp;&nbsp; 244843 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/23/2030 | &nbsp;&nbsp; 246276 | &nbsp;&nbsp; 1428 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Astoria Energy, LLC, Term B Advance, SOFR + 2.75% <sup>(d)</sup> | &nbsp;&nbsp; 910613 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/16/2032 | &nbsp;&nbsp; 923769 | &nbsp;&nbsp; 12687 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Asurion, LLC, New B-10 Term Loan (First Lien), 1M SOFR + CSA + 4.00% | &nbsp;&nbsp; 575938 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/21/2028 | &nbsp;&nbsp; 607693 | &nbsp;&nbsp; 16950 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Asurion, LLC, New B-11 Term Loan (First Lien), 1M SOFR + CSA + 4.25% | &nbsp;&nbsp; 360065 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/14/2028 | &nbsp;&nbsp; 372828 | &nbsp;&nbsp; 7969 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Athletico Physical Therapy, Initial Term B Loan, 3M SOFR + CSA + 4.25% | &nbsp;&nbsp; 816153 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/2/2029 | &nbsp;&nbsp; 614104 | &nbsp;&nbsp; (204021) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Atkore International, Inc., 2025 Refinancing Term Loan, 1M SOFR + 2.00% <sup>(b)</sup> | &nbsp;&nbsp; 73297 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/24/2032 | &nbsp;&nbsp; 74218 | &nbsp;&nbsp; 911 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Autokiniton US Holdings, Inc., 2024 Replacement Term B Loan, 1M SOFR + CSA + 4.00% | &nbsp;&nbsp; 634822 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/6/2028 | &nbsp;&nbsp; 630330 | &nbsp;&nbsp; (4420) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Axalta Coating Systems US Holdings, Term B-7 Dollar Loan, 3M SOFR + 1.75% | &nbsp;&nbsp; 410740 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/20/2029 | &nbsp;&nbsp; 414125 | &nbsp;&nbsp; 3072 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Azuria Water Solutions, Inc., 2025 Replacement Term Loan, 1M SOFR + 3.00% | &nbsp;&nbsp; 794099 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/17/2028 | &nbsp;&nbsp; 803037 | &nbsp;&nbsp; 7982 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Balcan Innovations Inc., Initial Term B Loan (First Lien), SOFR + 4.75% <sup>(b)(d)</sup> | &nbsp;&nbsp; 225319 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/10/2031 | &nbsp;&nbsp; 182310 | &nbsp;&nbsp; (43327) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Balrog Acquisition, Inc., First Lien Term Loan, 1M SOFR + CSA + 4.00% <sup>(b)</sup> | &nbsp;&nbsp; 301362 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/5/2028 | &nbsp;&nbsp; 254795 | &nbsp;&nbsp; (47394) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Banijay Entertainment S.A.S., Facility B3 (USD), 1M SOFR + 2.75% | &nbsp;&nbsp; 319257 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/1/2028 | &nbsp;&nbsp; 324350 | &nbsp;&nbsp; 4564 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;BCPE North Star US Holdco 2, Inc. Initial Term Loan (First Lien), 1M SOFR + CSA + 4.00% | &nbsp;&nbsp; 924512 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/9/2028 | &nbsp;&nbsp; 926932 | &nbsp;&nbsp; 9 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Bingo Holdings I, LLC, Term B Loan, 3M SOFR + 4.75% | &nbsp;&nbsp; 170058 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/11/2032 | &nbsp;&nbsp; 171439 | &nbsp;&nbsp; 1167 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;BIP Pipco Holdings, LLC Initial Term Loan, 3M SOFR + 2.25% | &nbsp;&nbsp; 150292 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/5/2030 | &nbsp;&nbsp; 151567 | &nbsp;&nbsp; 1275 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Birdsboro Power LLC, Term B Loan, 3M SOFR + 3.25% <sup>(b)</sup> | &nbsp;&nbsp; 99750 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/1/2032 | &nbsp;&nbsp; 100875 | &nbsp;&nbsp; 1119 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Blackhawk Network Holdings, Inc. Additional Term B-2 Loan (First Lien), 1M SOFR + 4.00% | &nbsp;&nbsp; 180301 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/12/2029 | &nbsp;&nbsp; 183009 | &nbsp;&nbsp; 2407 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;BMC Software Finance, Inc, 2031 Replacement Dollar Term Loans, 3M SOFR + 3.00% | &nbsp;&nbsp; 248414 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/30/2031 | &nbsp;&nbsp; 248396 | &nbsp;&nbsp; (55) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Boost Newco Borrower, LLC, USD Term B-2 Loan, 3M SOFR + 2.00% | &nbsp;&nbsp; 269508 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/31/2031 | &nbsp;&nbsp; 271447 | &nbsp;&nbsp; 1790 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Boots Group Finco L.P., Closing Date Dollar Term Loan, 3M SOFR + 3.50% | &nbsp;&nbsp; 500625 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/30/2032 | &nbsp;&nbsp; 503333 | &nbsp;&nbsp; 2728 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Brookfield WEC Holdings Inc., TLB (2024), 1M SOFR + 2.00% | &nbsp;&nbsp; 430402 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/20/2031 | &nbsp;&nbsp; 440951 | &nbsp;&nbsp; 8541 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Brown Group Holding, LLC, Incremental Term B-2 Facility, SOFR + 2.75% <sup>(d)</sup> | &nbsp;&nbsp; 194058 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/1/2031 | &nbsp;&nbsp; 197221 | &nbsp;&nbsp; 2678 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Burgess Point Purchaser Corporation, Initial Term Loan (First Lien), 3M SOFR + CSA + 5.25% | &nbsp;&nbsp; 198840 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/25/2029 | &nbsp;&nbsp; 178807 | &nbsp;&nbsp; (22352) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Burlington Coat Factory, Term B-7 Loan, 1M SOFR + 1.75% | &nbsp;&nbsp; 526582 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/24/2031 | &nbsp;&nbsp; 529924 | &nbsp;&nbsp; 3113 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Buzz Merger Sub LTD., Initial Term Loan, 1M SOFR + CSA + 2.75% | &nbsp;&nbsp; 488372 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/29/2027 | &nbsp;&nbsp; 474942 | &nbsp;&nbsp; (13430) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Calpine Construction Finance, L.P. 2025 Refinancing Term B Loan, 1M SOFR + 1.75% | &nbsp;&nbsp; 249688 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/31/2030 | &nbsp;&nbsp; 250508 | &nbsp;&nbsp; 814 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Canada Goose Inc., 2025 Refinancing Term Loan, 3M SOFR + 3.50% | &nbsp;&nbsp; 349125 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/13/2032 | &nbsp;&nbsp; 350074 | &nbsp;&nbsp; 915 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Canister International Group, Amendment No.5 Term Loan, 1M SOFR + 3.00% | &nbsp;&nbsp; 61436 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/13/2029 | &nbsp;&nbsp; 61989 | &nbsp;&nbsp; 488 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Carroll County Energy LLC, Term Loan B 2025, 1M SOFR + 2.75% | &nbsp;&nbsp; 833676 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/24/2031 | &nbsp;&nbsp; 847975 | &nbsp;&nbsp; 12925 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;CD&R Hydra Buyer, Inc., First Refinancing Term Loan, 1M SOFR + CSA + 4.00% | &nbsp;&nbsp; 496694 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/25/2031 | &nbsp;&nbsp; 498214 | &nbsp;&nbsp; 1396 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Cetera Financial Group, Term B-4 Loan (First Lien), 1M SOFR + 3.00% | &nbsp;&nbsp; 332917 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/9/2030 | &nbsp;&nbsp; 335030 | &nbsp;&nbsp; 2108 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;CHARIOT BUYER LLC Refinancing Term Loan (First Lien), 1M SOFR + 2.75% | &nbsp;&nbsp; 213750 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/8/2032 | &nbsp;&nbsp; 214440 | &nbsp;&nbsp; 690 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |
|  |  |  |  |  |  |  | &nbsp;&nbsp;December 31, 2025 (Unaudited) (Continued) |
| &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** |  |  |  |  |  | &nbsp;&nbsp; **Net Unrealized** |
|  |  | &nbsp;&nbsp;**Notional** |  | &nbsp;&nbsp;**Payment** | &nbsp;&nbsp;**Termination** |  | &nbsp;&nbsp; **Appreciation** |
| &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Reference Entity/Obligation** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Fund Pays** | &nbsp;&nbsp;**Frequency** | &nbsp;&nbsp;**Date** | &nbsp;&nbsp; **Fair Value** | &nbsp;&nbsp; **(Depreciation)** |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Charlotte Buyer, Inc.; Curo Health Services, LLC, Second Refinancing Term Loan (First Lien), 1M SOFR + 4.25% | &nbsp;&nbsp; $448745 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/11/2028 | &nbsp;&nbsp; $470061 | &nbsp;&nbsp; $13690 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Chart Industries, Inc., Amendment No. 7 Term Loan, 3M SOFR + 2.50% | &nbsp;&nbsp; 153916 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/15/2030 | &nbsp;&nbsp; 158126 | &nbsp;&nbsp; 3507 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Charter Communications Operating, LLC, Term B-4 Loan, 3M SOFR + 2.00% | &nbsp;&nbsp; 247481 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/2/2030 | &nbsp;&nbsp; 247531 | &nbsp;&nbsp; 50 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;CHG Healthcare Services, Inc., Amendment No. 7 Refinancing Term Loan (First Lien), SOFR + 2.75% <sup>(d)</sup> | &nbsp;&nbsp; 529513 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/29/2028 | &nbsp;&nbsp; 535484 | &nbsp;&nbsp; 5669 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Clarios Global LP, Amendment No. 5 Dollar Term Loan (First Lien), 1M SOFR + 2.50% | &nbsp;&nbsp; 284240 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/6/2030 | &nbsp;&nbsp; 286326 | &nbsp;&nbsp; 1813 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Clydesdale Acq Holdings Inc/Flex Acquisition Company, Inc., 2025 Incremental Closing Date Term B Loan (First Lien), 1M SOFR + 3.25% | &nbsp;&nbsp; 114472 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/26/2032 | &nbsp;&nbsp; 115378 | &nbsp;&nbsp; 865 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Clydesdale Acq Holdings Inc/Flex Acquisition Company, Inc., Term B Loan (First Lien), 1M SOFR + 3.18% | &nbsp;&nbsp; 332316 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/30/2029 | &nbsp;&nbsp; 347346 | &nbsp;&nbsp; 8829 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Cogeco Communications Finance (USA), LP, Amendment No. 5 Incremental Term Loan B, 1M SOFR + CSA + 2.50% | &nbsp;&nbsp; 480641 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/1/2028 | &nbsp;&nbsp; 471089 | &nbsp;&nbsp; (11838) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Compass Power Generation, L.L.C., Tranche B-4 Term Loan, 1M SOFR + 3.25% | &nbsp;&nbsp; 670178 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/14/2029 | &nbsp;&nbsp; 683323 | &nbsp;&nbsp; 12170 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Concentra Health Services, Inc., Tranche B-1 Term Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 31979 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/26/2031 | &nbsp;&nbsp; 32287 | &nbsp;&nbsp; 304 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Connect U.S. Finco LLC, Amendment No. 4 Term Loan, 1M SOFR + 4.50% | &nbsp;&nbsp; 962584 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/13/2029 | &nbsp;&nbsp; 960678 | &nbsp;&nbsp; (1906) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Corel, Initial Term Loan (First Lien), 3M SOFR + CSA + 5.00% | &nbsp;&nbsp; 528355 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/2/2026 | &nbsp;&nbsp; 518827 | &nbsp;&nbsp; (26331) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;CoreLogic, Inc., Initial Term Loan (First Lien), 1M SOFR + CSA + 3.50% | &nbsp;&nbsp; 95931 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/2/2028 | &nbsp;&nbsp; 96390 | &nbsp;&nbsp; 333 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Cornerstone Generation, Term Loan B, 3M SOFR + 3.25% | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/11/2032 | &nbsp;&nbsp; 90972 | &nbsp;&nbsp; 972 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Cornerstone OnDemand, Initial Term Loan (First Lien), 1M SOFR + CSA + 3.75% | &nbsp;&nbsp; 668632 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/16/2028 | &nbsp;&nbsp; 618520 | &nbsp;&nbsp; (51409) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Corpay Technologies Operating Company, Term B-6 Loan, 1M SOFR + 1.75% | &nbsp;&nbsp; 110556 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/5/2032 | &nbsp;&nbsp; 111343 | &nbsp;&nbsp; 778 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Covanta Holding Corporation, Term Loan B 2025 <sup>(b)(c)</sup> | &nbsp;&nbsp; 429570 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/31/2031 | &nbsp;&nbsp; 431004 | &nbsp;&nbsp; 1434 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Covanta Holding Corporation, Term Loan C 2025 <sup>(b)(c)</sup> | &nbsp;&nbsp; 69805 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/31/2031 | &nbsp;&nbsp; 70038 | &nbsp;&nbsp; 233 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Covetrus, Inc., Initial Term Loan (First Lien), 3M SOFR + 5.00% | &nbsp;&nbsp; 167785 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/20/2029 | &nbsp;&nbsp; 160893 | &nbsp;&nbsp; (10809) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Covia Holdings Corporation, 2025 Refinancing Initial Term Loan, 3M SOFR + 2.75% | &nbsp;&nbsp; 109191 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/26/2032 | &nbsp;&nbsp; 109674 | &nbsp;&nbsp; 477 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;CPV Fairview, LLC, 2025 Upsize Term B Loan, 1M SOFR + 2.50% | &nbsp;&nbsp; 660581 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/14/2031 | &nbsp;&nbsp; 668924 | &nbsp;&nbsp; 8301 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;CPV Shore Holdings, Term B Advance, 3M SOFR + 3.75% <sup>(b)</sup> | &nbsp;&nbsp; 294054 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/24/2032 | &nbsp;&nbsp; 299181 | &nbsp;&nbsp; 4761 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Crosby Worldwide Limited, Amendment No. 4 Replacement Term Loan, 1M SOFR + 3.50% | &nbsp;&nbsp; 112870 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/16/2029 | &nbsp;&nbsp; 114010 | &nbsp;&nbsp; 1141 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Culligan, 2025 Refinancing Term B Loan, SOFR + 3.00% <sup>(d)</sup> | &nbsp;&nbsp; 766971 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/31/2028 | &nbsp;&nbsp; 772855 | &nbsp;&nbsp; 5047 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Deep Blue Operating, Initial Term Loan, 1M SOFR + 2.75% | &nbsp;&nbsp; 249375 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/17/2032 | &nbsp;&nbsp; 251198 | &nbsp;&nbsp; 1806 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Dermatology Intermediate Holdings III, Inc., Closing Date Term Loan, 3M SOFR + 4.25% | &nbsp;&nbsp; 335821 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/26/2029 | &nbsp;&nbsp; 330545 | &nbsp;&nbsp; (7920) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Dexko Global Inc., Closing Date Dollar Term Loan (First Lien), 1M SOFR + CSA + 3.75% | &nbsp;&nbsp; 483239 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/4/2028 | &nbsp;&nbsp; 482430 | &nbsp;&nbsp; (1759) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;DG Investment Intermediate Holdings 2, Inc., 2025 Refinancing Term Loan (First Lien), 1M SOFR + 3.75% | &nbsp;&nbsp; 725038 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/2/2032 | &nbsp;&nbsp; 728102 | &nbsp;&nbsp; 3015 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;DIRECTV FINANCING, LLC, Closing Date Term Loan, 3M SOFR + CSA + 5.00% | &nbsp;&nbsp; 45450 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/22/2027 | &nbsp;&nbsp; 45884 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;DYNASTY ACQUISITION CO., INC, Initial Term B-1 Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 107717 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/27/2031 | &nbsp;&nbsp; 108379 | &nbsp;&nbsp; 641 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;DYNASTY ACQUISITION CO., INC, Initial Term B-2 Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 40972 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/27/2031 | &nbsp;&nbsp; 41224 | &nbsp;&nbsp; 244 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;East West Manufacturing, Initial Term Loan, 3M SOFR + 5.50% <sup>(b)</sup> | &nbsp;&nbsp; 625527 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/22/2028 | &nbsp;&nbsp; 627106 | &nbsp;&nbsp; (1445) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;EFS - Cogen Holdings I LLC, Term B Advance (2025), 3M SOFR + 3.00% | &nbsp;&nbsp; 430763 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/3/2031 | &nbsp;&nbsp; 434178 | &nbsp;&nbsp; 3436 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Element Materials Technology Group US Holdings Inc.(EM Midco 2 US LLC), Initial USD Term B Loan (First Lien), 3M SOFR + 3.68% | &nbsp;&nbsp; 215908 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/22/2029 | &nbsp;&nbsp; 218660 | &nbsp;&nbsp; 2516 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Energizer Holdings, Inc., Initial Term Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 300906 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/13/2032 | &nbsp;&nbsp; 303112 | &nbsp;&nbsp; 2084 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;EnergySolutions, LLC, 2023 TLB, 1M SOFR + 3.25% | &nbsp;&nbsp; 766377 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/23/2030 | &nbsp;&nbsp; 779952 | &nbsp;&nbsp; 11569 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;EUC, Initial Term Loan, 3M SOFR + 4.25% | &nbsp;&nbsp; 465966 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/1/2031 | &nbsp;&nbsp; 474436 | &nbsp;&nbsp; 6897 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Flutter Entertainment plc 2024 Refinancing Term B Loan, 3M SOFR + 1.75% | &nbsp;&nbsp; 80823 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/30/2030 | &nbsp;&nbsp; 81029 | &nbsp;&nbsp; 181 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Flutter Entertainment plc Third Incremental Term B Loan, 3M SOFR + 2.00% | &nbsp;&nbsp; 27518 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/4/2032 | &nbsp;&nbsp; 27699 | &nbsp;&nbsp; 172 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Franklin Square Holdings, Term B Loan, 1M SOFR + 2.25% <sup>(b)</sup> | &nbsp;&nbsp; 246258 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/25/2031 | &nbsp;&nbsp; 240703 | &nbsp;&nbsp; (5675) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Froneri US, Inc., Facility B4 (First Lien), 6M SOFR + 2.25% | &nbsp;&nbsp; 124943 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/17/2031 | &nbsp;&nbsp; 125349 | &nbsp;&nbsp; 371 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Garda World Security, Twelfth Additional Term Loan, 1M SOFR + 3.00% | &nbsp;&nbsp; 1063786 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/1/2029 | &nbsp;&nbsp; 1072000 | &nbsp;&nbsp; 7750 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Gates Global LLC, Initial B-5 Dollar Term Loan, 1M SOFR + 1.75% | &nbsp;&nbsp; 258587 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/3/2031 | &nbsp;&nbsp; 259530 | &nbsp;&nbsp; 943 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;GBT Group Services B.V., Term B-1, 3M SOFR + 2.50% | &nbsp;&nbsp; 57125 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/25/2031 | &nbsp;&nbsp; 57526 | &nbsp;&nbsp; 388 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Genesee & Wyoming, New Term Loan B, 3M SOFR + 1.75% | &nbsp;&nbsp; 492525 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/7/2031 | &nbsp;&nbsp; 495537 | &nbsp;&nbsp; 2526 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Geosyntec Consultants, Inc., 2025 Incremental Term Loan, 1M SOFR + 3.00% | &nbsp;&nbsp; 371485 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/31/2031 | &nbsp;&nbsp; 375690 | &nbsp;&nbsp; 4147 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;GIP Pilot Acquisition Partners L.P., Amendment No. 2 Refinancing Term Loan, 3M SOFR + 2.00% | &nbsp;&nbsp; 231477 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/4/2030 | &nbsp;&nbsp; 233379 | &nbsp;&nbsp; 1756 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;GLATFELTER CORPORATION Term Loan, 3M SOFR + 4.25% | &nbsp;&nbsp; 222616 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/4/2031 | &nbsp;&nbsp; 223835 | &nbsp;&nbsp; 933 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Global Medical Response, Initial Term Loan, 3M SOFR + 3.50% | &nbsp;&nbsp; 76731 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/1/2032 | &nbsp;&nbsp; 77494 | &nbsp;&nbsp; 758 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Gloves Buyer, Inc., Initial Term Loan, 1M SOFR + 4.00% | &nbsp;&nbsp; 229081 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/21/2032 | &nbsp;&nbsp; 229513 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;GOAT Holdco, LLC, Term B Loan, 1M SOFR + 2.75% | &nbsp;&nbsp; 235348 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/27/2032 | &nbsp;&nbsp; 236343 | &nbsp;&nbsp; 978 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Golden State Foods LLC, Initial Term Loan, 3M SOFR + 4.00% | &nbsp;&nbsp; 340224 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/4/2031 | &nbsp;&nbsp; 343290 | &nbsp;&nbsp; 3050 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;GoTo Group, Exchange First Out Term Loan, 3M SOFR + CSA + 4.75% | &nbsp;&nbsp; 216682 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/28/2028 | &nbsp;&nbsp; 193208 | &nbsp;&nbsp; (23474) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;GoTo Group, Second Out Term Loan, 3M SOFR + CSA + 4.75% | &nbsp;&nbsp; 299227 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/28/2028 | &nbsp;&nbsp; 117553 | &nbsp;&nbsp; (181674) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Great Outdoors Group, LLC, Term B-3 Loan, 1M SOFR + 3.25% | &nbsp;&nbsp; 1246662 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/16/2032 | &nbsp;&nbsp; 1261060 | &nbsp;&nbsp; 13830 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |
|  |  |  |  |  |  |  | &nbsp;&nbsp;December 31, 2025 (Unaudited) (Continued) |
| &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** |  |  |  |  |  | &nbsp;&nbsp; **Net Unrealized** |
|  |  | &nbsp;&nbsp;**Notional** |  | &nbsp;&nbsp;**Payment** | &nbsp;&nbsp;**Termination** |  | &nbsp;&nbsp; **Appreciation** |
| &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Reference Entity/Obligation** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Fund Pays** | &nbsp;&nbsp;**Frequency** | &nbsp;&nbsp;**Date** | &nbsp;&nbsp; **Fair Value** | &nbsp;&nbsp; **(Depreciation)** |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Green Infrastructure Partners, Initial Term Loan, 3M SOFR + 2.75% <sup>(b)</sup> | &nbsp;&nbsp; $498750 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/24/2032 | &nbsp;&nbsp; $501875 | &nbsp;&nbsp; $3089 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Hamilton Projects Acquiror, LLC, 2025-2 Repricing Term Loan, 1M SOFR + 2.50% | &nbsp;&nbsp; 771416 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/31/2031 | &nbsp;&nbsp; 778664 | &nbsp;&nbsp; 7210 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Harbor Freight Tools USA, Inc., Replacement Term Loan, 1M SOFR + 2.25% | &nbsp;&nbsp; 490352 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/5/2031 | &nbsp;&nbsp; 490310 | &nbsp;&nbsp; (485) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Herc Holdings Inc., Amendment No.1 Term Loan, 1M SOFR + 1.75% | &nbsp;&nbsp; 79811 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/2/2032 | &nbsp;&nbsp; 80517 | &nbsp;&nbsp; 705 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Heritage Grocers Group, LLC, Term B Loan (First Lien), 3M SOFR + CSA + 6.75% | &nbsp;&nbsp; 833547 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/20/2029 | &nbsp;&nbsp; 694482 | &nbsp;&nbsp; (159291) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Hill Top Energy, Term B Advance, 1M SOFR + 3.25% | &nbsp;&nbsp; 151394 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/17/2032 | &nbsp;&nbsp; 153417 | &nbsp;&nbsp; 1997 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;HS Purchaser, LLC, and Help/Systems Holdings, Inc., New Money First Lien, 3M SOFR + CSA + 6.00% <sup>(b)</sup> | &nbsp;&nbsp; 236006 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/21/2029 | &nbsp;&nbsp; 214398 | &nbsp;&nbsp; (21609) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Hunter Douglas, Amendment No. 3 Tranche B-1 Term Loan, 3M SOFR + 3.00% | &nbsp;&nbsp; 439531 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/14/2032 | &nbsp;&nbsp; 443945 | &nbsp;&nbsp; 4268 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Hyperion Materials & Technologies, Initial Term Loan (First Lien), SOFR + CSA + 4.50% <sup>(b)(d)</sup> | &nbsp;&nbsp; 730425 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/30/2028 | &nbsp;&nbsp; 651336 | &nbsp;&nbsp; (80087) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Idera, Incremental Term Loan (First Lien), 3M SOFR + 3.50% | &nbsp;&nbsp; 491266 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/2/2028 | &nbsp;&nbsp; 461985 | &nbsp;&nbsp; (30210) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;ImageFirst Holdings, LLC, Initial Term Loan, 3M SOFR + 3.00% <sup>(b)</sup> | &nbsp;&nbsp; 248752 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/10/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 1178 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Indicor, Tranche D Dollar Term Loan (First Lien), 3M SOFR + 2.75% | &nbsp;&nbsp; 94602 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/23/2029 | &nbsp;&nbsp; 98471 | &nbsp;&nbsp; 3320 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Ingenovis Health, Inc., Initial Term Loan (First Lien), 3M SOFR + CSA + 4.25% <sup>(b)</sup> | &nbsp;&nbsp; 613796 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/6/2028 | &nbsp;&nbsp; 180100 | &nbsp;&nbsp; (433240) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Invenergy Thermal Operating I LLC, Term Loan B 2025, 3M SOFR + CSA + 2.75% | &nbsp;&nbsp; 299750 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/6/2032 | &nbsp;&nbsp; 303867 | &nbsp;&nbsp; 3960 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Invenergy Thermal Operating I LLC, Term Loan C 2025, 3M SOFR + CSA + 2.75% | &nbsp;&nbsp; 18899 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/6/2032 | &nbsp;&nbsp; 19175 | &nbsp;&nbsp; 264 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Iridium Communications, Term B-4 Loan, 1M SOFR + 2.25% | &nbsp;&nbsp; 563403 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/20/2030 | &nbsp;&nbsp; 551672 | &nbsp;&nbsp; (11966) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;IXS HOLDINGS, INC., 2025 Refinancing Term Loan, 3M SOFR + 5.50% | &nbsp;&nbsp; 225588 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/5/2029 | &nbsp;&nbsp; 230241 | &nbsp;&nbsp; 4262 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Janus International Group, LLC, Initial Term Loan (First Lien), 3M SOFR + 2.50% | &nbsp;&nbsp; 208371 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/5/2030 | &nbsp;&nbsp; 211134 | &nbsp;&nbsp; 2316 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Kaman Corporation, Delayed Draw Term Loan, 3M SOFR + 2.50% <sup>(e)</sup> | &nbsp;&nbsp; 21547 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/26/2032 | &nbsp;&nbsp; 21660 | &nbsp;&nbsp; 113 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Kaman Corporation, Initial Term Loan, SOFR + 2.50% <sup>(d)</sup> | &nbsp;&nbsp; 227877 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/26/2032 | &nbsp;&nbsp; 229075 | &nbsp;&nbsp; 1197 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Kidde Global, 2025 Refinancing Term Loan, 1M SOFR + 3.50% | &nbsp;&nbsp; 222143 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/2/2031 | &nbsp;&nbsp; 224756 | &nbsp;&nbsp; 2566 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Kodiak BP, LLC, Initial Term Loan, 3M SOFR + 3.75% | &nbsp;&nbsp; 292650 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/26/2031 | &nbsp;&nbsp; 286573 | &nbsp;&nbsp; (6114) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Lackawanna Energy Center LLC, Replacement Term B Advance, 1M SOFR + 3.00% | &nbsp;&nbsp; 186974 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/23/2032 | &nbsp;&nbsp; 189013 | &nbsp;&nbsp; 2012 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;LAVENDER DUTCH BORROWERCO B.V., Term Loan 2025 <sup>(c)</sup> | &nbsp;&nbsp; 199500 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/2/2032 | &nbsp;&nbsp; 201875 | &nbsp;&nbsp; 2375 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;LBM Borrower, LLC, Amendment No. 4 Refinancing Term Loan (First Lien), 1M SOFR + 5.00% | &nbsp;&nbsp; 115625 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/4/2031 | &nbsp;&nbsp; 115825 | &nbsp;&nbsp; 197 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;LendingTree, LLC, Initial Term B, 1M SOFR + 4.50% | &nbsp;&nbsp; 462000 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/15/2030 | &nbsp;&nbsp; 466667 | &nbsp;&nbsp; 4363 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;LifePoint Health, 2024-1 Refinancing Term Loan (First Lien), 3M SOFR + 3.75% | &nbsp;&nbsp; 234526 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/16/2031 | &nbsp;&nbsp; 247972 | &nbsp;&nbsp; 13446 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;LifePoint Health, 2024-2 Refinancing Term Loan (First Lien), 3M SOFR + 3.50% | &nbsp;&nbsp; 247505 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/16/2031 | &nbsp;&nbsp; 248176 | &nbsp;&nbsp; 671 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;LSF11 Trinity Bidco, Inc., Initial Term Loans, 1M SOFR + 2.50% | &nbsp;&nbsp; 71247 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/14/2030 | &nbsp;&nbsp; 71603 | &nbsp;&nbsp; 356 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;LS Group OPCO Acquisition LLC, Term B-1 Loan, SOFR + 2.50% <sup>(d)</sup> | &nbsp;&nbsp; 449672 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/23/2031 | &nbsp;&nbsp; 450832 | &nbsp;&nbsp; 1160 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;M2S Group, Initial Term Loan, 3M SOFR + 4.75% | &nbsp;&nbsp; 435603 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/25/2031 | &nbsp;&nbsp; 466166 | &nbsp;&nbsp; 26038 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Madison IAQ LLC, Initial Term Loan, 6M SOFR + 2.50% | &nbsp;&nbsp; 625470 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/21/2028 | &nbsp;&nbsp; 634187 | &nbsp;&nbsp; 5835 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Magenta Buyer LLC, First Out Term Loan (First Lien), 3M SOFR + CSA + 6.75% | &nbsp;&nbsp; 70827 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/27/2028 | &nbsp;&nbsp; 54179 | &nbsp;&nbsp; (16714) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Magenta Buyer LLC, Second Out Term Loan (First Lien), 3M SOFR + CSA + 7.00% <sup>(b)</sup> | &nbsp;&nbsp; 92567 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/27/2028 | &nbsp;&nbsp; 40856 | &nbsp;&nbsp; (51794) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Magenta Buyer LLC, Third Out Term Loan (First Lien), 3M SOFR + CSA + 6.25% <sup>(b)</sup> | &nbsp;&nbsp; 329248 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/27/2028 | &nbsp;&nbsp; 77609 | &nbsp;&nbsp; (251933) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;McAfee, LLC, Second Amendment Tranche B-1 Term Loan, 1M SOFR + 3.00% | &nbsp;&nbsp; 893839 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/1/2029 | &nbsp;&nbsp; 831550 | &nbsp;&nbsp; (63129) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;McGraw Hill Global Education Holdings, LLC, 2025 Tranche B-2 Term Loan, 1M SOFR + 2.75% | &nbsp;&nbsp; 214263 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/6/2031 | &nbsp;&nbsp; 217594 | &nbsp;&nbsp; 3281 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Medline Borrower, LP, 2030 Refinancing Term Loan, 1M SOFR + 1.75% | &nbsp;&nbsp; 767013 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/23/2030 | &nbsp;&nbsp; 773146 | &nbsp;&nbsp; 6132 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Mega Broadband Investments LLC, Initial Term Loan, 3M SOFR + CSA + 3.00% | &nbsp;&nbsp; 541638 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/12/2027 | &nbsp;&nbsp; 527412 | &nbsp;&nbsp; (20735) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;MH Sub I LLC, 2023 May Incremental Term Loan (First Lien), 3M SOFR + 4.25% | &nbsp;&nbsp; 393778 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/3/2028 | &nbsp;&nbsp; 380618 | &nbsp;&nbsp; (19402) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;MH Sub I LLC, 2024 December New Term Loan (First Lien), 1M SOFR + 4.25% | &nbsp;&nbsp; 269758 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/31/2031 | &nbsp;&nbsp; 237655 | &nbsp;&nbsp; (32687) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Midcontinent Communications, Term Loan (2024), 1M SOFR + 2.50% | &nbsp;&nbsp; 196020 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/18/2031 | &nbsp;&nbsp; 197877 | &nbsp;&nbsp; 1555 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Millerknoll, 2025 Term B Loan, 1M SOFR + 2.25% | &nbsp;&nbsp; 153462 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/23/2032 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 1521 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Naked Juice LLC, Initial Second Out Term Loan, 3M SOFR + CSA + 3.25% | &nbsp;&nbsp; 337318 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/24/2029 | &nbsp;&nbsp; 225496 | &nbsp;&nbsp; (111899) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Newly Weds Foods, Initial Term Loan, 1M SOFR + 2.25% | &nbsp;&nbsp; 47263 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/8/2032 | &nbsp;&nbsp; 47638 | &nbsp;&nbsp; 354 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Nexstar Broadcasting, Inc., Term B-5 Loan, 1M SOFR + 2.50% | &nbsp;&nbsp; 302389 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/24/2032 | &nbsp;&nbsp; 307240 | &nbsp;&nbsp; 4687 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Nielsen Consumer Inc., Thirteenth Amendment Dollar Refinancing Term Loan, 1M SOFR + 2.50% | &nbsp;&nbsp; 990700 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/4/2030 | &nbsp;&nbsp; 995278 | &nbsp;&nbsp; 4473 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;NorthStar Group Services, Inc. Term B Loan (2024), 3M SOFR + 4.75% <sup>(b)</sup> | &nbsp;&nbsp; 183818 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/31/2030 | &nbsp;&nbsp; 186502 | &nbsp;&nbsp; 2444 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Nuvei Technologies, First Amendment Tranche B-1 Term Loan, 1M SOFR + 2.50% | &nbsp;&nbsp; 226908 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/17/2031 | &nbsp;&nbsp; 227988 | &nbsp;&nbsp; 1052 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;nVent Thermal Management, Initial Term Loan, 1M SOFR + 3.00% | &nbsp;&nbsp; 28358 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/30/2032 | &nbsp;&nbsp; 28723 | &nbsp;&nbsp; 352 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Ohio Power Partners, LLC, Term Facility, 1M SOFR + 2.75% <sup>(b)</sup> | &nbsp;&nbsp; 102426 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/28/2032 | &nbsp;&nbsp; 102941 | &nbsp;&nbsp; 506 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Olaplex, Inc., Initial Term Loan, 3M SOFR + CSA + 3.50% | &nbsp;&nbsp; 186168 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/20/2029 | &nbsp;&nbsp; 185540 | &nbsp;&nbsp; (2367) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Oldcastle BuildingEnvelope, Term B Loan, 3M SOFR + 4.25% | &nbsp;&nbsp; 710830 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/27/2029 | &nbsp;&nbsp; 527202 | &nbsp;&nbsp; (191694) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Omnia Partners, LLC, Term Loan B, 3M SOFR + 2.75% | &nbsp;&nbsp; 165543 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/31/2032 | &nbsp;&nbsp; 166860 | &nbsp;&nbsp; 1293 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Open Text Corporation, 2023 Replacement Term Loan, 1M SOFR + 1.75% | &nbsp;&nbsp; 305070 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/31/2030 | &nbsp;&nbsp; 305681 | &nbsp;&nbsp; 612 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Oregon Clean Energy, LLC, Term B Loan, 3M SOFR + 3.50% | &nbsp;&nbsp; 538256 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/12/2030 | &nbsp;&nbsp; 544303 | &nbsp;&nbsp; 5709 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Outcomes Group Holdings, INC, 2025 Replacement Term Loan, 1M SOFR + 3.00% | &nbsp;&nbsp; 245818 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/6/2031 | &nbsp;&nbsp; 248755 | &nbsp;&nbsp; 2876 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Outfront Media Term Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 249688 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/17/2032 | &nbsp;&nbsp; 251354 | &nbsp;&nbsp; 1658 |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |
|  |  |  |  |  |  |  | &nbsp;&nbsp;December 31, 2025 (Unaudited) (Continued) |
| &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** |  |  |  | &nbsp;&nbsp; **Net Unrealized** |
|  |  | &nbsp;&nbsp;**Notional** |  | &nbsp;&nbsp;**Payment** | &nbsp;&nbsp;**Termination** |  | &nbsp;&nbsp; **Appreciation** |
| &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Reference Entity/Obligation** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Fund Pays** | &nbsp;&nbsp;**Frequency** | &nbsp;&nbsp;**Date** | &nbsp;&nbsp; **Fair Value** | &nbsp;&nbsp; **(Depreciation)** |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Patterson Companies Initial Term Loan, 3M SOFR + 4.50% | &nbsp;&nbsp; $360000 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/30/2032 | &nbsp;&nbsp; $353314 | &nbsp;&nbsp; $(8296) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Performance Health Holdings, Initial Term Loan, 6M SOFR + 3.75% <sup>(b)</sup> | &nbsp;&nbsp; 455781 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/19/2032 | &nbsp;&nbsp; 455781 | &nbsp;&nbsp; (377) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Petco Animal Supplies, Initial Term Loan (First Lien), 3M SOFR + CSA + 3.25% | &nbsp;&nbsp; 245313 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/3/2028 | &nbsp;&nbsp; 247860 | &nbsp;&nbsp; 2391 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;PetSmart, Inc., Initial Term Loan, 1M SOFR + 4.00% | &nbsp;&nbsp; 1248760 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/29/2032 | &nbsp;&nbsp; 1247378 | &nbsp;&nbsp; (1463) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;PHOENIX GUARANTOR INC, Tranche B-5 Term Loan (First Lien), 1M SOFR + 2.50% | &nbsp;&nbsp; 732041 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/21/2031 | &nbsp;&nbsp; 743239 | &nbsp;&nbsp; 10280 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Ping Identity Holding Corp., Initial Term Loan, 3M SOFR + 2.75% | &nbsp;&nbsp; 47500 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/29/2032 | &nbsp;&nbsp; 47798 | &nbsp;&nbsp; 296 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Pitney Bowes INC., Tranche B Term Loan, 1M SOFR + 3.75% | &nbsp;&nbsp; 246263 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/19/2032 | &nbsp;&nbsp; 247740 | &nbsp;&nbsp; 1241 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Plastipak Holdings, Inc., Term Loan B 2025, 1M SOFR + 2.50% | &nbsp;&nbsp; 173547 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/11/2032 | &nbsp;&nbsp; 175073 | &nbsp;&nbsp; 1497 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Ply Gem Midco, Inc., Tranche B Term Loan, 1M SOFR + CSA + 3.25% | &nbsp;&nbsp; 237603 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/12/2028 | &nbsp;&nbsp; 212897 | &nbsp;&nbsp; (40027) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Ply Gem Midco, Inc., Tranche C Term Loan, 1M SOFR + 4.50% | &nbsp;&nbsp; 246263 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/15/2031 | &nbsp;&nbsp; 176756 | &nbsp;&nbsp; (69793) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Potomac Energy, Initial Term Loan, 3M SOFR + 3.00% <sup>(b)</sup> | &nbsp;&nbsp; 981396 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/5/2032 | &nbsp;&nbsp; 994734 | &nbsp;&nbsp; 13139 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Priority Technology Holdings, Inc., 2025-1 Refinancing Term Loan, 1M SOFR + 3.75% | &nbsp;&nbsp; 182045 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/23/2032 | &nbsp;&nbsp; 179809 | &nbsp;&nbsp; (2255) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Quikrete Holdings, Inc, Tranche B-1 Term Loan (First Lien), 1M SOFR + 2.25% | &nbsp;&nbsp; 491414 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/14/2031 | &nbsp;&nbsp; 494503 | &nbsp;&nbsp; 2957 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Radnet Management, Inc., 2024 Refinancing Term Loan (First Lien), 3M SOFR + 2.25% | &nbsp;&nbsp; 245023 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/18/2031 | &nbsp;&nbsp; 248095 | &nbsp;&nbsp; 3071 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;RC Buyer, Inc., Initial Term Loan (First Lien), 1M SOFR + CSA + 3.50% | &nbsp;&nbsp; 317565 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/26/2028 | &nbsp;&nbsp; 317565 | &nbsp;&nbsp; (448) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;RED PLANET BORROWER LLC, Fourth Amendment Incremental Term Loan, 1M SOFR + 4.00% | &nbsp;&nbsp; 247500 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/8/2032 | &nbsp;&nbsp; 250781 | &nbsp;&nbsp; 3198 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Redstone Holdco 2 LP, Initial Term Loan (First Lien), 3M SOFR + CSA + 4.75% <sup>(b)</sup> | &nbsp;&nbsp; 829983 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/27/2028 | &nbsp;&nbsp; 393788 | &nbsp;&nbsp; (480871) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Ring Container Technologies, 2025 Refinancing Term Loan, 1M SOFR + 2.50% | &nbsp;&nbsp; 378328 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/15/2032 | &nbsp;&nbsp; 381263 | &nbsp;&nbsp; 2893 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Ryan Specialty Group, 2024 Term Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 191217 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/15/2031 | &nbsp;&nbsp; 191634 | &nbsp;&nbsp; 441 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Sanmina Corporation, Incremental Term B-1 Loan, 1M SOFR + 2.00% <sup>(b)</sup> | &nbsp;&nbsp; 49875 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/27/2032 | &nbsp;&nbsp; 50156 | &nbsp;&nbsp; 279 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Scientific Games Lottery, 2024 Refinancing Dollar Term Loan, 3M SOFR + 3.00% | &nbsp;&nbsp; 686423 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/4/2029 | &nbsp;&nbsp; 677689 | &nbsp;&nbsp; (9414) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Sedgwick Claims Management, 2024 Term Loan, 1M SOFR + 2.50% | &nbsp;&nbsp; 280230 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/31/2031 | &nbsp;&nbsp; 282109 | &nbsp;&nbsp; 1817 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Select Medical Corporation, Tranche B-2 Loan, 1M SOFR + 2.00% | &nbsp;&nbsp; 58483 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/3/2031 | &nbsp;&nbsp; 58676 | &nbsp;&nbsp; 169 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Sinclair Television Group, Inc, Term B-7 Loan, 1M SOFR + CSA + 4.10% | &nbsp;&nbsp; 564353 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/31/2030 | &nbsp;&nbsp; 531407 | &nbsp;&nbsp; (35888) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Sitel, Initial Dollar Term Loan, 1M SOFR + CSA + 3.75% | &nbsp;&nbsp; 654994 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/28/2028 | &nbsp;&nbsp; 273189 | &nbsp;&nbsp; (383629) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Skechers U.S.A., Inc., Tranche B-1 Term Loan, 3M SOFR + 3.25% | &nbsp;&nbsp; 41563 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/13/2032 | &nbsp;&nbsp; 42058 | &nbsp;&nbsp; 492 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Solstice Advanced Materials, Term B Loan, 3M SOFR + 1.75% | &nbsp;&nbsp; 249688 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/29/2032 | &nbsp;&nbsp; 251641 | &nbsp;&nbsp; 1948 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;South Field Energy LLC, Term Loan B, 3M SOFR + 3.00% | &nbsp;&nbsp; 879331 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/29/2031 | &nbsp;&nbsp; 887779 | &nbsp;&nbsp; 8404 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;South Field Energy LLC, Term Loan C, 3M SOFR + 3.00% | &nbsp;&nbsp; 52853 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/29/2031 | &nbsp;&nbsp; 53360 | &nbsp;&nbsp; 505 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Specialty Building Products Holdings, LLC, Initial Term Loan, 1M SOFR + CSA + 3.75% | &nbsp;&nbsp; 481057 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/16/2028 | &nbsp;&nbsp; 451680 | &nbsp;&nbsp; (30155) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Spring Education Group, Inc., Initial Term Loan, 3M SOFR + 3.25% | &nbsp;&nbsp; 134594 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/30/2030 | &nbsp;&nbsp; 137246 | &nbsp;&nbsp; 2229 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;SRAM, LLC, Initial Term Loan, SOFR + 2.25% <sup>(b)(d)</sup> | &nbsp;&nbsp; 240781 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/21/2032 | &nbsp;&nbsp; 241465 | &nbsp;&nbsp; 661 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Staples, Inc., Closing Date Term Loan, 3M SOFR + 5.75% | &nbsp;&nbsp; 406286 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/23/2029 | &nbsp;&nbsp; 402978 | &nbsp;&nbsp; (7122) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Star Parent, Inc., Term Loan B, 3M SOFR + 4.00% | &nbsp;&nbsp; 472491 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/30/2030 | &nbsp;&nbsp; 476229 | &nbsp;&nbsp; 2894 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Stonepeak Bayou, Initial Term Loan, 3M SOFR + 2.75% <sup>(b)</sup> | &nbsp;&nbsp; 302826 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/24/2032 | &nbsp;&nbsp; 276196 | &nbsp;&nbsp; (26667) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Stonepeak Nile Parent LLC, Amendment No 1 Incremental Term Loan, 3M SOFR + 2.25% | &nbsp;&nbsp; 236042 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/9/2032 | &nbsp;&nbsp; 236659 | &nbsp;&nbsp; 610 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;SupplyOne, Term B Loan, 1M SOFR + 3.50% | &nbsp;&nbsp; 21200 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/21/2031 | &nbsp;&nbsp; 21485 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Taylor Made Golf Company, Initial Term Loan, 1M SOFR + CSA + 3.25% | &nbsp;&nbsp; 548919 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/26/2029 | &nbsp;&nbsp; 562809 | &nbsp;&nbsp; 11762 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Tenneco Inc., Term B Loan (First Lien), 3M SOFR + CSA + 5.00% | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/17/2028 | &nbsp;&nbsp; 492368 | &nbsp;&nbsp; 35102 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;TK Elevator Midco GmbH, Facility B (USD), 6M SOFR + 2.75% | &nbsp;&nbsp; 79601 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/30/2030 | &nbsp;&nbsp; 80186 | &nbsp;&nbsp; 585 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;TKO Worldwide Holdings, LLC, Additional Term B-5 Loan (First Lien), 3M SOFR + 2.00% | &nbsp;&nbsp; 163485 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/21/2031 | &nbsp;&nbsp; 164761 | &nbsp;&nbsp; 1264 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Transdigm Inc., New Tranche J Term Loan, 3M SOFR + 2.50% | &nbsp;&nbsp; 89324 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/28/2031 | &nbsp;&nbsp; 89986 | &nbsp;&nbsp; 598 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Transdigm Inc., New Tranche K Term Loan, 3M SOFR + 2.25% | &nbsp;&nbsp; 709279 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/22/2030 | &nbsp;&nbsp; 720017 | &nbsp;&nbsp; 10350 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Transdigm Inc., Tranche M Term Loan, 3M SOFR + 2.50% | &nbsp;&nbsp; 55417 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/13/2032 | &nbsp;&nbsp; 55850 | &nbsp;&nbsp; 427 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Tronox Finance LLC, 2024 B2 Term Loan (FIrst Lien), 3M SOFR + 2.25% | &nbsp;&nbsp; 245647 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/4/2029 | &nbsp;&nbsp; 204085 | &nbsp;&nbsp; (41561) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;TruGreen Limited Partnership, Second Refinancing Term Loan (First Lien), 1M SOFR + CSA + 4.00% | &nbsp;&nbsp; 352607 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;11/2/2027 | &nbsp;&nbsp; 361722 | &nbsp;&nbsp; 750 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;TTM Technologies, Inc., New Term Loan, 1M SOFR + 2.25% <sup>(b)</sup> | &nbsp;&nbsp; 246170 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;5/30/2030 | &nbsp;&nbsp; 249345 | &nbsp;&nbsp; 3035 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;U.S. Anesthesia Partners, Initial Term Loan (First Lien), 1M SOFR + CSA + 4.00% | &nbsp;&nbsp; 327590 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/25/2028 | &nbsp;&nbsp; 331217 | &nbsp;&nbsp; 2740 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;United Air Lines, Inc. and Continental Airlines, Inc., 2024 TLB, 1M SOFR + 2.00% | &nbsp;&nbsp; 409569 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/22/2031 | &nbsp;&nbsp; 416518 | &nbsp;&nbsp; 6465 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;United Natural Foods, 2024 Term Loan, 1M SOFR + 4.75% | &nbsp;&nbsp; 112901 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;4/25/2031 | &nbsp;&nbsp; 116184 | &nbsp;&nbsp; 2873 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Vertex Aerospace Services Corp, 2024 Term Loan (First Lien), 1M SOFR + 2.25% | &nbsp;&nbsp; 47203 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;12/6/2030 | &nbsp;&nbsp; 47594 | &nbsp;&nbsp; 384 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Speed Midco 3 S.a r.l., Facility B (USD), 6M SOFR + 2.50% | &nbsp;&nbsp; 440463 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/23/2032 | &nbsp;&nbsp; 443253 | &nbsp;&nbsp; 2781 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Victory Capital Holdings, Inc., Tranche B-3 Term Loan, 3M SOFR + 2.00% | &nbsp;&nbsp; 155543 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/11/2032 | &nbsp;&nbsp; 156832 | &nbsp;&nbsp; 1283 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Victra Finance Corp., Fifth Amendment Incremental Term Loan, 3M SOFR + 3.75% | &nbsp;&nbsp; 667483 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/31/2029 | &nbsp;&nbsp; 688195 | &nbsp;&nbsp; 19517 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Virtusa Corporation, Term B-2 Loan, 1M SOFR + 3.25% | &nbsp;&nbsp; 772399 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/15/2029 | &nbsp;&nbsp; 781171 | &nbsp;&nbsp; 7102 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Vistage Worldwide, Initial Term Loan, 3M SOFR + 3.75% <sup>(b)</sup> | &nbsp;&nbsp; 488684 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/13/2029 | &nbsp;&nbsp; 491139 | &nbsp;&nbsp; 1742 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Vivid Seats, 2025 Refinancing Term Loan (First Lien), 3M SOFR + 2.25% <sup>(b)</sup> | &nbsp;&nbsp; 76156 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;2/5/2029 | &nbsp;&nbsp; 44170 | &nbsp;&nbsp; (31985) |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Vizient, Inc., Term B-8 Loan, 1M SOFR + 1.75% | &nbsp;&nbsp; 56364 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;8/1/2031 | &nbsp;&nbsp; 56753 | &nbsp;&nbsp; 366 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Voyager Parent LLC, Term B Loan (First Lien), 3M SOFR + 4.75% | &nbsp;&nbsp; 242500 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;7/1/2032 | &nbsp;&nbsp; 250493 | &nbsp;&nbsp; 7608 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Wash Multifamily Laundry Systems, Initial Term Loan, 1M SOFR + 3.25% | &nbsp;&nbsp; 49875 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/10/2032 | &nbsp;&nbsp; 50490 | &nbsp;&nbsp; 612 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Watlow Electric Manufacturing Company, Initial Term Loan, 3M SOFR + 3.00% | &nbsp;&nbsp; 931074 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/2/2028 | &nbsp;&nbsp; 938105 | &nbsp;&nbsp; 7273 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;WELLFUL INC., Tranche B Term Loan (First Lien), 1M SOFR + CSA + 6.25% <sup>(b)</sup> | &nbsp;&nbsp; 374752 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/19/2030 | &nbsp;&nbsp; 321976 | &nbsp;&nbsp; (52776) |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | CIM Real Assets & Credit Fund | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |
|  |  |  |  |  |  |  | &nbsp;&nbsp;December 31, 2025 (Unaudited) (Continued) |
| &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** | &nbsp;&nbsp;**TOTAL RETURN SWAP CONTRACTS <sup>(a)</sup>** |  |  |  | &nbsp;&nbsp; **Net Unrealized** |
|  |  | &nbsp;&nbsp;**Notional** |  | &nbsp;&nbsp;**Payment** | &nbsp;&nbsp;**Termination** |  | &nbsp;&nbsp; **Appreciation** |
| &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Reference Entity/Obligation** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Fund Pays** | &nbsp;&nbsp;**Frequency** | &nbsp;&nbsp;**Date** | &nbsp;&nbsp; **Fair Value** | &nbsp;&nbsp; **(Depreciation)** |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;White Cap Supply Holdings, LLC, Tranche C Term Loan, 1M SOFR + 3.25% | &nbsp;&nbsp; $416348 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;10/19/2029 | &nbsp;&nbsp; $420417 | &nbsp;&nbsp; $3811 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;WhiteWater DBR, Term B-1 Loan, 3M SOFR + 2.25% | &nbsp;&nbsp; 702175 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;3/3/2031 | &nbsp;&nbsp; 710577 | &nbsp;&nbsp; 7980 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;WhiteWater Matterhorn, Initial Term Loan, 3M SOFR + 2.25% | &nbsp;&nbsp; 173043 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/16/2032 | &nbsp;&nbsp; 174818 | &nbsp;&nbsp; 1720 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Wood MacKenzie, Term Loan, SOFR + 3.00% <sup>(d)</sup> | &nbsp;&nbsp; 151923 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;1/31/2031 | &nbsp;&nbsp; 153103 | &nbsp;&nbsp; 1180 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;Xperi, Initial Term B Loan, 1M SOFR + 2.50% | &nbsp;&nbsp; 532057 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;6/8/2028 | &nbsp;&nbsp; 536848 | &nbsp;&nbsp; 4233 |
| &nbsp;&nbsp;Citibank, N.A. | &nbsp;&nbsp;ZelisRedCard, Term B-2 Loan, 1M SOFR + 2.75% | &nbsp;&nbsp; 980075 | &nbsp;&nbsp;3M SOFR + 1.50% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;9/28/2029 | &nbsp;&nbsp; 976795 | &nbsp;&nbsp; (4961) |
|  |  | &nbsp;&nbsp; $86631168 |  |  |  | &nbsp;&nbsp; $83612898 &nbsp;&nbsp; (f) | &nbsp;&nbsp; $(3324224) |
| &nbsp;&nbsp;(a) The Fund's interest in the total return swap transactions are held through a wholly-owned subsidiary of the Fund, RACR-FS, LLC, a Delaware limited liability company. | &nbsp;&nbsp;(a) The Fund's interest in the total return swap transactions are held through a wholly-owned subsidiary of the Fund, RACR-FS, LLC, a Delaware limited liability company. | &nbsp;&nbsp;(a) The Fund's interest in the total return swap transactions are held through a wholly-owned subsidiary of the Fund, RACR-FS, LLC, a Delaware limited liability company. | &nbsp;&nbsp;(a) The Fund's interest in the total return swap transactions are held through a wholly-owned subsidiary of the Fund, RACR-FS, LLC, a Delaware limited liability company. | &nbsp;&nbsp;(a) The Fund's interest in the total return swap transactions are held through a wholly-owned subsidiary of the Fund, RACR-FS, LLC, a Delaware limited liability company. | &nbsp;&nbsp;(a) The Fund's interest in the total return swap transactions are held through a wholly-owned subsidiary of the Fund, RACR-FS, LLC, a Delaware limited liability company. | &nbsp;&nbsp;(a) The Fund's interest in the total return swap transactions are held through a wholly-owned subsidiary of the Fund, RACR-FS, LLC, a Delaware limited liability company. | &nbsp;&nbsp;(a) The Fund's interest in the total return swap transactions are held through a wholly-owned subsidiary of the Fund, RACR-FS, LLC, a Delaware limited liability company. |
| &nbsp;&nbsp;(b) Security is classified as Level 3 in the Fund's fair value hierarchy. | &nbsp;&nbsp;(b) Security is classified as Level 3 in the Fund's fair value hierarchy. | &nbsp;&nbsp;(b) Security is classified as Level 3 in the Fund's fair value hierarchy. | &nbsp;&nbsp;(b) Security is classified as Level 3 in the Fund's fair value hierarchy. | &nbsp;&nbsp;(b) Security is classified as Level 3 in the Fund's fair value hierarchy. | &nbsp;&nbsp;(b) Security is classified as Level 3 in the Fund's fair value hierarchy. | &nbsp;&nbsp;(b) Security is classified as Level 3 in the Fund's fair value hierarchy. | &nbsp;&nbsp;(b) Security is classified as Level 3 in the Fund's fair value hierarchy. |
| &nbsp;&nbsp;(c) Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;(c) Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;(c) Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;(c) Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;(c) Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;(c) Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;(c) Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. | &nbsp;&nbsp;(c) Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to settlement date, including spread. |
| &nbsp;&nbsp;(d) Security has more than one contract with varying floating benchmark rates indexed to SOFR. | &nbsp;&nbsp;(d) Security has more than one contract with varying floating benchmark rates indexed to SOFR. | &nbsp;&nbsp;(d) Security has more than one contract with varying floating benchmark rates indexed to SOFR. | &nbsp;&nbsp;(d) Security has more than one contract with varying floating benchmark rates indexed to SOFR. | &nbsp;&nbsp;(d) Security has more than one contract with varying floating benchmark rates indexed to SOFR. | &nbsp;&nbsp;(d) Security has more than one contract with varying floating benchmark rates indexed to SOFR. | &nbsp;&nbsp;(d) Security has more than one contract with varying floating benchmark rates indexed to SOFR. | &nbsp;&nbsp;(d) Security has more than one contract with varying floating benchmark rates indexed to SOFR. |
| &nbsp;&nbsp;(e) This Investment or portion thereof was not funded as of December 31, 2025. | &nbsp;&nbsp;(e) This Investment or portion thereof was not funded as of December 31, 2025. | &nbsp;&nbsp;(e) This Investment or portion thereof was not funded as of December 31, 2025. | &nbsp;&nbsp;(e) This Investment or portion thereof was not funded as of December 31, 2025. | &nbsp;&nbsp;(e) This Investment or portion thereof was not funded as of December 31, 2025. | &nbsp;&nbsp;(e) This Investment or portion thereof was not funded as of December 31, 2025. | &nbsp;&nbsp;(e) This Investment or portion thereof was not funded as of December 31, 2025. | &nbsp;&nbsp;(e) This Investment or portion thereof was not funded as of December 31, 2025. |
| &nbsp;&nbsp;(f) From time to time, the Fund may receive or pay upfront fees that generally represent premiums paid or received in relation to the total return swap contract reference entities listed in the table above. The Fund has determined that such fees were not material to the total return swap contracts during the quarter ended December 31, 2025. | &nbsp;&nbsp;(f) From time to time, the Fund may receive or pay upfront fees that generally represent premiums paid or received in relation to the total return swap contract reference entities listed in the table above. The Fund has determined that such fees were not material to the total return swap contracts during the quarter ended December 31, 2025. | &nbsp;&nbsp;(f) From time to time, the Fund may receive or pay upfront fees that generally represent premiums paid or received in relation to the total return swap contract reference entities listed in the table above. The Fund has determined that such fees were not material to the total return swap contracts during the quarter ended December 31, 2025. | &nbsp;&nbsp;(f) From time to time, the Fund may receive or pay upfront fees that generally represent premiums paid or received in relation to the total return swap contract reference entities listed in the table above. The Fund has determined that such fees were not material to the total return swap contracts during the quarter ended December 31, 2025. | &nbsp;&nbsp;(f) From time to time, the Fund may receive or pay upfront fees that generally represent premiums paid or received in relation to the total return swap contract reference entities listed in the table above. The Fund has determined that such fees were not material to the total return swap contracts during the quarter ended December 31, 2025. | &nbsp;&nbsp;(f) From time to time, the Fund may receive or pay upfront fees that generally represent premiums paid or received in relation to the total return swap contract reference entities listed in the table above. The Fund has determined that such fees were not material to the total return swap contracts during the quarter ended December 31, 2025. | &nbsp;&nbsp;(f) From time to time, the Fund may receive or pay upfront fees that generally represent premiums paid or received in relation to the total return swap contract reference entities listed in the table above. The Fund has determined that such fees were not material to the total return swap contracts during the quarter ended December 31, 2025. | &nbsp;&nbsp;(f) From time to time, the Fund may receive or pay upfront fees that generally represent premiums paid or received in relation to the total return swap contract reference entities listed in the table above. The Fund has determined that such fees were not material to the total return swap contracts during the quarter ended December 31, 2025. |
| &nbsp;&nbsp;Abbreviation: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;CSA - Security has a credit spread adjustment to account for the difference between LIBOR and SOFR. | &nbsp;&nbsp;CSA - Security has a credit spread adjustment to account for the difference between LIBOR and SOFR. | &nbsp;&nbsp;CSA - Security has a credit spread adjustment to account for the difference between LIBOR and SOFR. | &nbsp;&nbsp;CSA - Security has a credit spread adjustment to account for the difference between LIBOR and SOFR. | &nbsp;&nbsp;CSA - Security has a credit spread adjustment to account for the difference between LIBOR and SOFR. | &nbsp;&nbsp;CSA - Security has a credit spread adjustment to account for the difference between LIBOR and SOFR. | &nbsp;&nbsp;CSA - Security has a credit spread adjustment to account for the difference between LIBOR and SOFR. | &nbsp;&nbsp;CSA - Security has a credit spread adjustment to account for the difference between LIBOR and SOFR. |
| &nbsp;&nbsp;PIK - Payment-in-kind security for which interest is paid in cash or additional principal. | &nbsp;&nbsp;PIK - Payment-in-kind security for which interest is paid in cash or additional principal. | &nbsp;&nbsp;PIK - Payment-in-kind security for which interest is paid in cash or additional principal. | &nbsp;&nbsp;PIK - Payment-in-kind security for which interest is paid in cash or additional principal. | &nbsp;&nbsp;PIK - Payment-in-kind security for which interest is paid in cash or additional principal. | &nbsp;&nbsp;PIK - Payment-in-kind security for which interest is paid in cash or additional principal. | &nbsp;&nbsp;PIK - Payment-in-kind security for which interest is paid in cash or additional principal. | &nbsp;&nbsp;PIK - Payment-in-kind security for which interest is paid in cash or additional principal. |
| &nbsp;&nbsp;Reference Rates - Reference rates reset throughout the period and therefore the rates in the schedule of investments may vary from the rates noted immediately below. | &nbsp;&nbsp;Reference Rates - Reference rates reset throughout the period and therefore the rates in the schedule of investments may vary from the rates noted immediately below. | &nbsp;&nbsp;Reference Rates - Reference rates reset throughout the period and therefore the rates in the schedule of investments may vary from the rates noted immediately below. | &nbsp;&nbsp;Reference Rates - Reference rates reset throughout the period and therefore the rates in the schedule of investments may vary from the rates noted immediately below. | &nbsp;&nbsp;Reference Rates - Reference rates reset throughout the period and therefore the rates in the schedule of investments may vary from the rates noted immediately below. | &nbsp;&nbsp;Reference Rates - Reference rates reset throughout the period and therefore the rates in the schedule of investments may vary from the rates noted immediately below. | &nbsp;&nbsp;Reference Rates - Reference rates reset throughout the period and therefore the rates in the schedule of investments may vary from the rates noted immediately below. | &nbsp;&nbsp;Reference Rates - Reference rates reset throughout the period and therefore the rates in the schedule of investments may vary from the rates noted immediately below. |
| &nbsp;&nbsp;1M SOFR - 1 Month SOFR as of December 31, 2025 was 3.68751%. | &nbsp;&nbsp;1M SOFR - 1 Month SOFR as of December 31, 2025 was 3.68751%. | &nbsp;&nbsp;1M SOFR - 1 Month SOFR as of December 31, 2025 was 3.68751%. | &nbsp;&nbsp;1M SOFR - 1 Month SOFR as of December 31, 2025 was 3.68751%. | &nbsp;&nbsp;1M SOFR - 1 Month SOFR as of December 31, 2025 was 3.68751%. | &nbsp;&nbsp;1M SOFR - 1 Month SOFR as of December 31, 2025 was 3.68751%. |  |  |
| &nbsp;&nbsp;3M SOFR - 3 Month SOFR as of December 31, 2025 was 3.65166%. | &nbsp;&nbsp;3M SOFR - 3 Month SOFR as of December 31, 2025 was 3.65166%. | &nbsp;&nbsp;3M SOFR - 3 Month SOFR as of December 31, 2025 was 3.65166%. | &nbsp;&nbsp;3M SOFR - 3 Month SOFR as of December 31, 2025 was 3.65166%. | &nbsp;&nbsp;3M SOFR - 3 Month SOFR as of December 31, 2025 was 3.65166%. | &nbsp;&nbsp;3M SOFR - 3 Month SOFR as of December 31, 2025 was 3.65166%. |  |  |
| &nbsp;&nbsp;6M SOFR - 6 Month SOFR as of December 31, 2025 was 3.57418%. | &nbsp;&nbsp;6M SOFR - 6 Month SOFR as of December 31, 2025 was 3.57418%. | &nbsp;&nbsp;6M SOFR - 6 Month SOFR as of December 31, 2025 was 3.57418%. | &nbsp;&nbsp;6M SOFR - 6 Month SOFR as of December 31, 2025 was 3.57418%. | &nbsp;&nbsp;6M SOFR - 6 Month SOFR as of December 31, 2025 was 3.57418%. | &nbsp;&nbsp;6M SOFR - 6 Month SOFR as of December 31, 2025 was 3.57418%. |  |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** CIM Real Assets & Credit Fund

- **b. Investment Company Act file number:** 811-23425

- **c. CIK number of Registrant:** 0001767074

- **d. LEI of Registrant:** 5493000K400JV7T0XQ39

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

  - **Street Address 1:** 4700 Wilshire Boulevard

  - **City:** Los Angeles

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90010

  - **Telephone number:** 323-860-7421

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

- **a. Name of Series:** CIM Real Assets & Credit Fund

- **c. LEI of Series:** 5493000K400JV7T0XQ39

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $354714294.52

**Total Liabilities:** $105817135.76

**Net Assets:** $248897158.76

**Cash Not Reported:** $996178.73

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** -38216.03495200 | **1-Year:** -8.43848099 | **5-Year:** -28825.66666500 | **10-Year:** 0.00000000 | **30-Year:** -7830.36147999

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -0.20%               | -0.06%               | -1.36%               |
| Class ID N/A | -0.23%               | -0.14%               | -1.40%               |
| Class ID N/A | -0.15%               | -0.05%               | -1.34%               |
| Class ID N/A | -0.21%               | -0.12%               | -1.35%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $126169.97               | $-1371773.53                               |
| Month 2  | $166702.96               | $-976792.15                                |
| Month 3  | $-128633.39              | $-4489085.06                               |

**Designated Index Information**

- **Index Name:** S&P US REIT  (STCGUSRE), 30%; CMBX.NA.BB, 20%; S&P / LSTA United States Leveraged  Loan 100 Index BB/B, 25%; CLO_US_3.0_B_Sector_N1600, 25%

- **Index Identifier:** Blended Designated Index

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Allegro Clo XV Ltd / LLC                                                    | Allegro CLO XV, Ltd., Class SUB LL                              | CUSIP: 01749KAC3<br>LEI: 254900AAPS2B2Z2RDL27 | Long             | ABS-O            | CORP              | US        |   4681654 | PA      | $2724071.81   | 1.09%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Allegro                                                                     | ALLEG 2020-1A E1R                                               | CUSIP: 01750UAE3<br>LEI: 254900E0ZQX4DLP7HF87 | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $989224.75    | 0.40%             | 2037-07-21      | Variable      | 11.27%                | Yes           | 2                  | On Loan: No      |
| Allegro CLO XVII Ltd.                                                       | Allegro CLO XVII Ltd.                                           | CUSIP: 01751WAE8<br>LEI: 213800WM4HOIEMCU1G38 | Long             | ABS-O            | CORP              | US        |   3329823 | PA      | $2583260.03   | 1.04%             |  |  |  | Yes           | 3                  | On Loan: No      |
| APEX CREDIT CLO LTD                                                         | Apex Credit CLO 2021, Ltd., Class SUB LL                        | CUSIP: 03754DAG8<br>LEI: 549300PKXRJW5V5VW357 | Long             | ABS-O            | CORP              | US        |   2980000 | PA      | $1136271.02   | 0.46%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Apex Credit Clo 13A SUB Ltd                                                 | Apex Credit Clo 13A SUB Ltd                                     | CUSIP: 03754GAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7305491 | PA      | $6000000.00   | 2.41%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Ares LV CLO Ltd.                                                            | Ares LV CLO Ltd.                                                | CUSIP: 04018DAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $624621.00    | 0.25%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ATLAS SENIOR LOAN FUND XVII LTD                                             | Atlas Senior Loan Fund XVII, Ltd., Class SUB LL                 | CUSIP: 04942GAC1<br>LEI: 5493004PDQETMPM6YK04 | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $1196211.00   | 0.48%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ATLAS SENIOR LOAN FUND XXIII LTD                                            | Atlas Senior Loan Fund XXIII Ltd.                               | CUSIP: 04942RAA1<br>LEI: 213800M7WM9TKCR3TF76 | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $2041952.00   | 0.82%             | 2037-07-20      | Floating      | 11.01%                | Yes           | 2                  | On Loan: No      |
| Atlas Senior Loan Fund XX Ltd                                               | Atlas Senior Loan Fund XX Ltd                                   | CUSIP: 04943KAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3000000 | PA      | $3004298.70   | 1.21%             | 2037-10-19      | Floating      | 11.98%                | Yes           | 2                  | On Loan: No      |
| AHPT 2024-ATRM D                                                            | AHPT 2024-ATRM D                                                | CUSIP: 04963XAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3063917.10   | 1.23%             | 2039-10-10      | Fixed         | 7.93%                 | Yes           | 2                  | On Loan: No      |
| BXSC COMMERCIAL MORTGAGE TRUST 2022-WSS                                     | BXSC Commercial Mortgage Trust                                  | CUSIP: 05610BAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2978534 | PA      | $2978573.22   | 1.20%             | 2035-03-15      | Floating      | 9.08%                 | Yes           | 2                  | On Loan: No      |
| BRES COMMERCIAL MORTGAGE TRUST 2025-ATCAP                                   | BRES Commercial Mortgage Trust 2025-ATCAP CMBS                  | CUSIP: 05619GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8580000 | PA      | $8593137.70   | 3.45%             | 2042-11-15      | Floating      | 5.24%                 | Yes           | 2                  | On Loan: No      |
| BRES COMMERCIAL MORTGAGE TRUST 2025-ATCAP                                   | BRES Commercial Mortgage Trust 2025-ATCAP CMBS                  | CUSIP: 05619GAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2785000 | PA      | $2781797.53   | 1.12%             | 2042-11-15      | Floating      | 7.39%                 | Yes           | 2                  | On Loan: No      |
| BX TRUST 2025-OMG                                                           | BX Trust CMBS                                                   | CUSIP: 05619HAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3860000 | PA      | $3860093.41   | 1.55%             | 2042-10-15      | Floating      | 7.35%                 | Yes           | 2                  | On Loan: No      |
| Bardin Hill CLO                                                             | Bardin Hill CLO 2021-2 Ltd.                                     | CUSIP: 06744BAJ2<br>LEI: 549300MBY3B6FX1O8T44 | Long             | ABS-CBDO         | CORP              | US        |   2450000 | PA      | $2456602.26   | 0.99%             | 2034-10-25      | Floating      | 11.82%                | Yes           | 2                  | On Loan: No      |
| BARINGS MIDDLE MARKET CLO LTD                                               | Barings Middle Market CLO, Ltd. 2021-I, Class D                 | CUSIP: 06761EAA3<br>LEI: 549300NSFWDKJE15UK02 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1009500.10   | 0.41%             | 2033-07-20      | Floating      | 12.80%                | Yes           | 2                  | On Loan: No      |
| Birch Grove Clo Ltd/Llc                                                     | Birch Grove CLO Ltd                                             | CUSIP: 09075QAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $1980000.00   | 0.80%             | 2037-07-17      | Floating      | 10.82%                | Yes           | 2                  | On Loan: No      |
| BRTPT 2023-1A ER                                                            | BRTPT 2023-1A ER                                                | CUSIP: 104923AA5<br>LEI: 2549008BD5ZNAI1AAM17 | Long             | ABS-CBDO         | CORP              | US        |   2500000 | PA      | $2538389.00   | 1.02%             | 2038-07-26      | Floating      | 10.96%                | Yes           | 2                  | On Loan: No      |
| Brightwood Capital MM CLO 2023-1 Ltd./ Brightwood Capital MM CLO 2023-1 LLC | BWCAP 2023-1A SUB1 Brightwood Capital MM CLO 2023-1 Ltd         | CUSIP: 108929AC4<br>LEI: 254900KA4G802DSTDW29 | Long             | ABS-O            | CORP              | US        |   2585233 | PA      | $2077950.99   | 0.83%             |  |  |  | Yes           | 3                  | On Loan: No      |
| BX 2025-BCAT D                                                              | BX 2025-BCAT D                                                  | CUSIP: 12433HAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    958285 | PA      | $959921.02    | 0.39%             | 2042-08-15      | Floating      | 6.40%                 | Yes           | 2                  | On Loan: No      |
| Cfip Clo 2017-1 Ltd/ Llc                                                    | CFIP CLO 2017-1, Ltd., Class ER LL                              | CUSIP: 12528HAG5<br>LEI: 635400N9HTJKJSK1AS88 | Long             | ABS-CBDO         | CORP              | US        |   5285000 | PA      | $5100179.59   | 2.05%             | 2034-10-18      | Floating      | 11.45%                | Yes           | 2                  | On Loan: No      |
| Creative Media & Community Trust Corporation                                | Creative Media & Community Trust Corp. REIT                     | CUSIP: 12564W102<br>LEI: 549300X9XL9BLF80OY48 | Long             | EC               | CORP              | US        |      1584 | NS      | $5876.64      | 0.00%             |  |  |  | Yes           | 1                  | On Loan: No      |
| CXP TRUST 2022-CXP1                                                         | CXP Trust 2022-CXP1, Class E CMBS                               | CUSIP: 126721AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $320400.00    | 0.13%             | 2038-12-15      | Floating      | 0.02%                 | Yes           | 3                  | On Loan: No      |
| CXP TRUST 2022-CXP1                                                         | CXP Trust 2022-CXP1, Class F CMBS                               | CUSIP: 126721AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $0.00         | 0.00%             | 2038-12-15      | Floating      | 0.02%                 | Yes           | 3                  | On Loan: No      |
| CAMPUS DRIVE FLORHAM PARK NJ                                                | Campus Drive Secured Lease-Backed Pass-Through Trust, Series C  | CUSIP: 13467UAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4215633 | PA      | $2721195.45   | 1.09%             | 2058-06-15      | Fixed         | 6.91%                 | Yes           | 3                  | On Loan: No      |
| CARLYLE US CLO 2022-6 LTD                                                   | Carlyle US CLO 2022-4 Ltd                                       | CUSIP: 14317EAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4250000 | PA      | $4312563.40   | 1.73%             | 2036-07-25      | Floating      | 10.61%                | Yes           | 2                  | On Loan: No      |
| N/A                                                                         | 1902 Park Avenue (Los Angeles) Owner, L.P. INDIRECT             | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |   6038003 | OU      | $5899772.08   | 2.37%             |  |  |  | No            | 3                  | On Loan: No      |
| DK 2025-LXP D                                                               | DK 2025-LXP D                                                   | CUSIP: 23292LAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1002547.10   | 0.40%             | 2037-08-15      | Floating      | 6.63%                 | Yes           | 2                  | On Loan: No      |
| DRYDEN 98 CLO LTD                                                           | Dryden 98 CLO, Ltd., Class SUB LL                               | CUSIP: 26248CAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5500000 | PA      | $2295661.50   | 0.92%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Elevation CLO 2022-16, Ltd., Class E LL                         | CUSIP: 28624BAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9100000 | PA      | $9069599.18   | 3.64%             | 2034-07-25      | Floating      | 12.16%                | Yes           | 2                  | On Loan: No      |
| EMPOWER CLO 2024-1 LTD                                                      | EMPWR 2024-1A SUB                                               | CUSIP: 29244YAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4396000 | PA      | $2140109.08   | 0.86%             |  |  |  | Yes           | 3                  | On Loan: No      |
| EMPWR 2024-2A                                                               | EMPWR 2024-2A                                                   | CUSIP: 29248KAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7650000 | PA      | $4344924.60   | 1.75%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Extended Stay America Trust                                                 | Extended Stay America Trust                                     | CUSIP: 30227TAL4<br>LEI: 549300IESZBC3BJUJW64 | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1009153.25   | 0.41%             | 2042-10-15      | Floating      | 7.85%                 | Yes           | 2                  | On Loan: No      |
| Fidelity Investments                                                        | Fidelity Treasury Portfolio                                     | CUSIP: 316175504<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |   3173148 | PA      | $3173147.72   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| First American Funds Inc.                                                   | First American Funds Treasury Obligations                       | CUSIP: 31846V542<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   4270799 | PA      | $4270798.67   | 1.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Gallatin CLO XI 2024-1 Ltd                                                  | Gallatin CLO XI 2024-1 Ltd                                      | CUSIP: 36362JAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3000000 | PA      | $3072855.00   | 1.23%             | 2037-10-20      | Floating      | 11.88%                | Yes           | 2                  | On Loan: No      |
| HTL COMMERCIAL MORTGAGE TRUST 2024-T53                                      | HTL Commercial Mortgage Trust                                   | CUSIP: 404300AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2561492.00   | 1.03%             | 2039-05-10      | Fixed         | 8.47%                 | Yes           | 2                  | On Loan: No      |
| HARUS 2024-2A                                                               | HARUS 2024-2A                                                   | CUSIP: 41756XAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $2047120.40   | 0.82%             | 2037-10-15      | Floating      | 10.80%                | Yes           | 2                  | On Loan: No      |
| LCM 38 Ltd.                                                                 | LCM Ltd Partnership 38A ER2                                     | CUSIP: 501965AL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   6000000 | PA      | $5973391.50   | 2.40%             | 2038-11-04      | Variable      | 11.28%                | Yes           | 2                  | On Loan: No      |
| N/A                                                                         | LCM Ltd Partnership                                             | CUSIP: 50200UAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1250000 | PA      | $1106129.69   | 0.44%             | 2034-07-20      | Floating      | 11.13%                | Yes           | 2                  | On Loan: No      |
| N/A                                                                         | LCM 31, Ltd., Class INC LL                                      | CUSIP: 50201VAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $43080.75     | 0.02%             |  |  |  | Yes           | 3                  | On Loan: No      |
| LAQ 2023-LAQ MORTGAGE TRUST                                                 | LAQ 2023-LAQ Mortgage Trust, Class D CMBS                       | CUSIP: 516681AG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2298834 | PA      | $2313884.26   | 0.93%             | 2036-03-15      | Floating      | 7.94%                 | Yes           | 2                  | On Loan: No      |
| MCR 2024-HF1 Mortgage Trust                                                 | MCR 2024-HF1 Mortgage Trust                                     | CUSIP: 55287FAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2707210 | PA      | $2713181.56   | 1.09%             | 2041-12-15      | Floating      | 7.94%                 | Yes           | 2                  | On Loan: No      |
| N/A                                                                         | Marble Point CLO XXI, Ltd., Class INC LL                        | CUSIP: 56606PAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2750000 | PA      | $789618.50    | 0.32%             |  |  |  | Yes           | 3                  | On Loan: No      |
| MCF CLO VII LLC                                                             | MCF CLO VII LLC                                                 | CUSIP: 58039AAQ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1630940.16   | 0.66%             | 2037-07-20      | Floating      | 10.88%                | Yes           | 2                  | On Loan: No      |
| NORTHWOOD CAPITAL 25 LIMITED                                                | Northwoods Capital 25, Ltd., Class E LL                         | CUSIP: 66860WAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2250000 | PA      | $2234305.80   | 0.90%             | 2034-07-20      | Floating      | 11.29%                | Yes           | 2                  | On Loan: No      |
| NYC COMMERCIAL MORTGAGE TRUST 2025-11X                                      | NYC Commercial Mortgage Trust CMBS 2025-11X                     | CUSIP: 67122NAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3010347.60   | 1.21%             | 2037-10-15      | Variable      | 6.94%                 | Yes           | 2                  | On Loan: No      |
| NYC COMMERCIAL MORTGAGE TRUST 2025-28L                                      | NYC Commercial Mortgage Trust 2025-28L E CMBS                   | CUSIP: 67123JAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3006261.90   | 1.21%             | 2038-11-05      | Fixed         | 7.49%                 | Yes           | 2                  | On Loan: No      |
| NYC COMMERCIAL MORTGAGE TRUST 2025-28L                                      | NYC Commercial Mortgage Trust 2025-28L F CMBS                   | CUSIP: 67123JAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3025703.10   | 1.22%             | 2038-11-05      | Fixed         | 8.99%                 | Yes           | 2                  | On Loan: No      |
| ONE NEW YORK PLAZA TR 20-1NYP                                               | One New York Plaza Trust 2020-1NYP, Class B CMBS                | CUSIP: 68249DAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3710000 | PA      | $3587256.13   | 1.44%             | 2036-01-15      | Floating      | 5.57%                 | Yes           | 2                  | On Loan: No      |
| N/A                                                                         | Prudential PLC                                                  | CUSIP: 693976AA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $2011690.00   | 0.81%             | 2037-01-20      | Floating      | 12.84%                | Yes           | 2                  | On Loan: No      |
| Peaks clo 3 ltd/llc                                                         | Elevation CLO 2021-15, Ltd., Class SUB LL                       | CUSIP: 70469GAC5<br>LEI: 5493005VN5WX000OV470 | Long             | ABS-O            | CORP              | US        |   3750000 | PA      | $1006042.50   | 0.40%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Peaks clo 3 ltd/llc                                                         | Elevation CLO 2021-15, Ltd., Class SUB LL                       | CUSIP: 70469GAC5<br>LEI: 5493005VN5WX000OV470 | Long             | ABS-O            | CORP              | US        |     87734 | PA      | $44752.50     | 0.02%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Regatta XIX Funding Ltd.                                                    | Regatta XIX Funding Ltd.                                        | CUSIP: 75888CAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1950000 | PA      | $1214887.05   | 0.49%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Saratoga Investment Corporation CLO 2013-1 Ltd.                             | Saratoga Investment Corp. CLO 2013-1, Ltd. Class F1R3           | CUSIP: 80349BCB1<br>LEI: 549300471O2DE0Y4L506 | Long             | ABS-CBDO         | CORP              | US        |   2000000 | PA      | $1070310.90   | 0.43%             | 2033-04-20      | Floating      | 14.15%                | Yes           | 2                  | On Loan: No      |
| STEELE CREEK CLO 2022-1 LTD                                                 | Steele Creek CLO 2022-1, Ltd., Class SUB LL                     | CUSIP: 85816HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6339779 | PA      | $1780317.72   | 0.72%             |  |  |  | Yes           | 3                  | On Loan: No      |
| STEELE CREEK CLO 2022-1 LTD                                                 | Steele Creek CLO 2022-1, Ltd., Class SUB .                      | CUSIP: 85816HAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    195336 | PA      | $152541.35    | 0.06%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Trinitas CLO Ltd.                                                           | Trinitas CLO VIII, Ltd., Class SUB LL                           | CUSIP: 89641FAC8<br>LEI: 5493000JXST1RIX07H55 | Long             | ABS-O            | CORP              | US        |   2300000 | PA      | $56448.90     | 0.02%             |  |  |  | Yes           | 3                  | On Loan: No      |
| TWO VA PROPERTIES INVESTORS DST                                             | TWO VA Repack Trust Class B-2, Series B2 .                      | CUSIP: 90214FAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1811000 | PA      | $853372.18    | 0.34%             | 2033-11-15      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | VA Gilbert AZ Subordinated Note Lease-Backed Pass-Through Trust | CUSIP: 918470AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    156370 | PA      | $184144.33    | 0.07%             | 2034-03-15      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| VENTURE 45 CLO LTD                                                          | Venture 45 CLO, Ltd., Class E LL                                | CUSIP: 92326HAA4<br>LEI: 549300AZL7IWJJ04HD37 | Long             | ABS-CBDO         | CORP              | US        |   3000000 | PA      | $1567057.35   | 0.63%             | 2035-07-20      | Floating      | 11.58%                | Yes           | 2                  | On Loan: No      |
| VTR Commercial Mortgage Trust                                               | VTR Commercial Mortgage Trust                                   | CUSIP: 92890YAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3500000 | PA      | $3514175.70   | 1.41%             | 2039-10-15      | Fixed         | 6.06%                 | Yes           | 2                  | On Loan: No      |
| WMRK COMMERCIAL MORTGAGE TRUST 2022-WMRK                                    | WMRK Commercial Mortgage Trust 2022-WMRK, Class E CMBS          | CUSIP: 929342AE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6560583 | PA      | $6627068.85   | 2.66%             | 2035-11-15      | Floating      | 9.43%                 | Yes           | 2                  | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                                       | Wells Fargo Commercial Mortgage Trust 2021-FCMT Class D         | CUSIP: 95003EAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4010000 | PA      | $4022256.97   | 1.62%             | 2031-05-15      | Floating      | 7.37%                 | Yes           | 2                  | On Loan: No      |
| WELLS FARGO COMMERCIAL MORTGAGE TRUST                                       | Wells Fargo Commercial Mortgage Trust 2021-FCMT Class F         | CUSIP: 95003EAL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $986466.00    | 0.40%             | 2031-05-15      | Floating      | 9.77%                 | Yes           | 2                  | On Loan: No      |
| WCORE Commercial Mortgage Trust 2024-CORE                                   | WCORE Commercial Mortgage Trust 2024-CORE                       | CUSIP: 951913AJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4012641.20   | 1.61%             | 2041-11-15      | Floating      | 7.69%                 | Yes           | 2                  | On Loan: No      |
| N/A                                                                         | AIDC Intermediate Co. 2, LLC, Term Loan                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     56867 | PA      | $56809.66     | 0.02%             | 2027-07-22      | Floating      | 9.17%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Apex Credit CLO 2025-I                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-CBDO         | CORP              | US        |   5883721 | PA      | $5839004.65   | 2.35%             | 2026-10-21      | None          | 15.50%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Avison Young Common Equity                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       199 | NS      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Avison Young                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      5813 | PA      | $5812.75      | 0.00%             | 2027-12-12      | Floating      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Avison Young                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     39527 | PA      | $39526.72     | 0.02%             | 2027-12-12      | Floating      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Avison Young                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     13951 | PA      | $13950.61     | 0.01%             | 2027-12-12      | Floating      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Boca Home Care Holdings, Inc. DDTL                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   4090282 | PA      | $4090282.23   | 1.64%             | 2027-02-25      | Floating      | 10.59%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Boca Homecare Holdings, Inc. (Equity) Common Stock              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    592033 | NS      | $345505.22    | 0.14%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Boca Home Care Holdings Revolver                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    580645 | PA      | $580645.16    | 0.23%             | 2027-02-25      | Floating      | 10.59%                | Yes           | 3                  | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2592000 | PA      | $-2592000.00  | -1.04%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -3015000 | PA      | $-3015000.00  | -1.21%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |   -629000 | PA      | $-629000.00   | -0.25%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -4631000 | PA      | $-4631000.00  | -1.86%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -3007000 | PA      | $-3007000.00  | -1.21%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2256000 | PA      | $-2256000.00  | -0.91%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |   -769000 | PA      | $-769000.00   | -0.31%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |   -852000 | PA      | $-852000.00   | -0.34%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -1807000 | PA      | $-1807000.00  | -0.73%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |   -733000 | PA      | $-733000.00   | -0.29%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -1504000 | PA      | $-1504000.00  | -0.60%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -1766000 | PA      | $-1766000.00  | -0.71%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -1506000 | PA      | $-1506000.00  | -0.61%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -1942000 | PA      | $-1942000.00  | -0.78%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2289000 | PA      | $-2289000.00  | -0.92%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -1533000 | PA      | $-1533000.00  | -0.62%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |   -855000 | PA      | $-855000.00   | -0.34%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -1210000 | PA      | $-1210000.00  | -0.49%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -1506000 | PA      | $-1506000.00  | -0.61%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2702000 | PA      | $-2702000.00  | -1.09%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2995000 | PA      | $-2995000.00  | -1.20%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |   -758000 | PA      | $-758000.00   | -0.30%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2556000 | PA      | $-2556000.00  | -1.03%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2083000 | PA      | $-2083000.00  | -0.84%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -7722000 | PA      | $-7722000.00  | -3.10%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -4453000 | PA      | $-4453000.00  | -1.79%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2045000 | PA      | $-2045000.00  | -0.82%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2397000 | PA      | $-2397000.00  | -0.96%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2250000 | PA      | $-2250000.00  | -0.90%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -1960000 | PA      | $-1960000.00  | -0.79%            |  |  |  | No            | N/A                | On Loan: No      |
| JP Morgan Securities, LLC                                                   | JPM CMBS Reverse Repo                                           | CUSIP: N/A<br>LEI: 549300BRNI54SX6NX725       | Short            | RA               | CORP              | US        |  -2661000 | PA      | $-2661000.00  | -1.07%            |  |  |  | No            | N/A                | On Loan: No      |
| N/A                                                                         | CIM REAL ASSETS & CREDIT FUND SPV .                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DCR              | CORP              | US        |     16811 | NS      | $22127422.99  | 8.89%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                                         | CVAUSA Management, LLC, Revolver, TL                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    285714 | PA      | $285714.29    | 0.11%             | 2028-05-22      | Floating      | 0.50%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | CVAUSA Management, LLC, Term Loan                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3650371 | PA      | $3686875.16   | 1.48%             | 2029-05-22      | Floating      | 9.21%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Del Mar Terrace - Phoenix, AZ Indirect                          | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |  21752498 | OU      | $6220365.23   | 2.50%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                         | EPIC Dallas Indirect                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |  13693975 | OU      | $13048580.68  | 5.24%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                         | Exponential Power, Inc., TL                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2904080 | PA      | $2758875.54   | 1.11%             | 2026-05-12      | Floating      | 12.01%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | IENTC 1, LLC                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   3769463 | NS      | $16873000.00  | 6.78%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | 4901 W Jefferson Blvd - Los Angeles, CA Indirect                | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |   5223424 | OU      | $4976299.10   | 2.00%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                         | 3816-3822 W Jefferson Blvd Indirect                             | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |   5100255 | OU      | $3827055.85   | 1.54%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                         | 4707 W Jefferson Blvd Indirect                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |   4638811 | OU      | $3418324.89   | 1.37%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                         | Kreg LLC, Revolver                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    163043 | PA      | $158478.26    | 0.06%             | 2026-12-20      | Floating      | 10.40%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Kreg LLC, Term Loan                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2114357 | PA      | $2055155.39   | 0.83%             | 2026-12-20      | Floating      | 10.90%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | 101 145 S. La Brea                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |   4620782 | OU      | $6196577.75   | 2.49%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                         | 127 165 171 S. La Brea                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |  11380384 | OU      | $14695048.25  | 5.90%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                         | Society Las Olas - PMG Greybook Riverfront I LLC                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  10181371 | PA      | $10178917.54  | 4.09%             | 2026-03-06      | Floating      | 5.46%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Society Las Olas 301 - S 1st Avenue Holdings LLC                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5151984 | PA      | $5150742.71   | 2.07%             | 2026-03-06      | Floating      | 10.82%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | One GI Intermediate LLC, Revolver Upsize                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    333333 | PA      | $315000.00    | 0.13%             | 2026-12-22      | Floating      | 10.77%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | MedMark Services, Inc., Second Lien Term Loan                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    378788 | PA      | $286363.64    | 0.12%             | 2028-06-11      | Floating      | 13.09%                | No            | 3                  | On Loan: No      |
| N/A                                                                         | Baart Programs, Inc., Second Lien Term Loan                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1026443 | PA      | $775990.62    | 0.31%             | 2028-06-11      | Floating      | 13.08%                | No            | 3                  | On Loan: No      |
| N/A                                                                         | BCPE North Star US Holdco 2, Inc. 2L TL                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    578231 | PA      | $571844.73    | 0.23%             | 2029-06-08      | Floating      | 11.28%                | No            | 3                  | On Loan: No      |
| N/A                                                                         | Honor HN Buyer, Inc. Term Loan                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1104480 | PA      | $1104479.85   | 0.44%             | 2027-10-15      | Floating      | 9.90%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Honor HN Buyer, Inc. Delayed Draw Term Loan                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    698500 | PA      | $698500.49    | 0.28%             | 2027-10-15      | Floating      | 9.90%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Honor HN Buyer, Inc. Revolver                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    132013 | PA      | $132013.20    | 0.05%             | 2027-10-15      | Floating      | 11.50%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | 24 Seven, Inc., Term Loan                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3737415 | PA      | $3726202.40   | 1.50%             | 2027-11-16      | Floating      | 10.96%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | One GI Intermediate LLC, Tranche B DDTL                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1684375 | PA      | $1591734.38   | 0.64%             | 2026-12-22      | Floating      | 10.77%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | One GI Intermediate LLC, Tranche C DDTL                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    887792 | PA      | $838963.13    | 0.34%             | 2026-12-22      | Floating      | 10.77%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | AIDC Intermediate Co. 2, TL                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2431250 | PA      | $2428818.75   | 0.98%             | 2027-07-22      | Floating      | 9.17%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Honor HN Buyer DD T/L 1st Amendment                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    777193 | PA      | $777193.33    | 0.31%             | 2027-10-15      | Floating      | 9.90%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | 24 Seven Holdco, LLC - 2023 Incremental Term Loan               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    329292 | PA      | $328304.04    | 0.13%             | 2027-11-16      | Floating      | 10.96%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Medrina, LLC - TL                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1463298 | PA      | $1463297.90   | 0.59%             | 2029-10-20      | Floating      | 9.69%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Medrina, LLC - DDTL                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    245574 | PA      | $245574.47    | 0.10%             | 2029-10-20      | Floating      | 10.25%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Medrina, LLC - Revolver                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    212766 | PA      | $212765.96    | 0.09%             | 2029-10-20      | Floating      | 0.50%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Avison Young Second Out PIK TL                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    280951 | PA      | $219067.01    | 0.09%             | 2029-03-12      | Floating      | 11.99%                | No            | 3                  | On Loan: No      |
| N/A                                                                         | Avison Young Third Out PIK TL                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     44856 | PA      | $1007.16      | 0.00%             | 2029-03-12      | Floating      | 12.58%                | No            | 3                  | On Loan: No      |
| N/A                                                                         | Avison Young Preferred Equity                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    288507 | PA      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                         | Naked Juice LLC - Second Out TL                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |     69475 | PA      | $46374.56     | 0.02%             | 2029-01-24      | Floating      | 7.35%                 | No            | 3                  | On Loan: No      |
| N/A                                                                         | EOS-Metasource Intermediate, Inc., TL                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3412836 | PA      | $3310450.52   | 1.33%             | 2027-05-17      | Floating      | 11.01%                | Yes           | 3                  | On Loan: No      |
| RideNow Group, Inc.                                                         | RideNow Group, Inc., Warrant                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      7576 | NS      | $28484.86     | 0.01%             |  |  |  | Yes           | 3                  | On Loan: No      |
| RideNow Group, Inc.                                                         | RideNow Group, Inc., Tenth Amendment TL                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    993535 | PA      | $957271.39    | 0.38%             | 2027-09-30      | Floating      | 11.85%                | Yes           | 3                  | On Loan: No      |
| RideNow Group, Inc.                                                         | RideNow Group, Inc., Tenth Amendment DDTL                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    299835 | PA      | $288891.31    | 0.12%             | 2027-09-30      | Floating      | 11.85%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Shiftkey, Revolver                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    147059 | PA      | $140735.27    | 0.06%             | 2027-06-21      | Floating      | 0.50%                 | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Shiftkey, Term Loan                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2169082 | PA      | $2075811.33   | 0.83%             | 2027-06-21      | Floating      | 10.01%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Sora Multifamily Residential Property Indirect                  | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |  31054474 | OU      | $20627535.06  | 8.29%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                                         | Spectrum Vision Partners, LLC                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   3972558 | PA      | $3972558.08   | 1.60%             | 2026-11-17      | Floating      | 10.76%                | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | CGA Holdings, Inc., Class A Common Stock                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    155086 | NS      | $163190.02    | 0.07%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A                                                                         | Vale at the Parks - DC Indirect                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | RE               | PF                | US        |   5129598 | OU      | $4914168.56   | 1.97%             |  |  |  | No            | 3                  | On Loan: No      |

### Signature

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

**Name of Applicant:** CIM Real Assets & Credit Fund

**Signature:** Nathan D. DeBacker

**Name of Signer:** Nathan D. DeBacker

**Title:** Chief Financial Officer