# EDGAR Filing Document

**Accession Number:** 0001984165
**File Stem:** 0001752724-25-209953
**Filing Date:** 2025-8
**Character Count:** 52014
**Document Hash:** 5e538d11497f1a99de3d767491eb6946
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-209953.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-209953

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CAZ Strategic Opportunities Fund
- **CENTRAL INDEX KEY:** 0001984165

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23892
- **FILM NUMBER:** 251267912

**BUSINESS ADDRESS:**
- **STREET 1:** ONE RIVERWAY, SUITE 2000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056
- **BUSINESS PHONE:** 713.403.8250

**MAIL ADDRESS:**
- **STREET 1:** ONE RIVERWAY, SUITE 2000
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CAZ STRATEGIC OPPORTUNITIES FUND
- **DATE OF NAME CHANGE:** 20230809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CAZ Holy Grail Fund
- **DATE OF NAME CHANGE:** 20230705

## Nport-Ex

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | | |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS** | **CONSOLIDATED SCHEDULE OF INVESTMENTS** | **CONSOLIDATED SCHEDULE OF INVESTMENTS** | | |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | | |
| **PRIVATE INVESTMENTS - 93.6%** | **Acquisition Date** | **Shares** | <br>**Cost** | <br>**Value** |
| **CO-INVESTMENTS - 31.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AEROSPACE AND DEFENSE - 3.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AE Co-Investment Partners Fund III-R, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;12/19/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp;$2007790 | &nbsp;&nbsp;$2004954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caffeinated Capital Onebrief SPV, LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;11/29/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;1997410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caffeinated Capital Saronic SPV, LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;6/18/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;2608431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caffeinated Capital Varda SPV II, LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;9/6/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;1997173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snowpoint Growth I.VI, LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;11/26/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3043500 | &nbsp;&nbsp;3012217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tamarack Global Impulse Space II, LP - Class A Shares <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;8/22/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;1485000 |
|  |  |  | &nbsp;&nbsp; 11551290 | &nbsp;&nbsp;13105185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONSUMER DISCRETIONARY - 3.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arctos Florida Coinvestment Holdings Feeder LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;6/5/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 4660536 | &nbsp;&nbsp;4660536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASP II AMR Co-Invest, LP <sup>(a)(b)(c)(d)(e)</sup> | &nbsp;&nbsp;6/3/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3574312 | &nbsp;&nbsp;3524414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASP II Project Striker Co-Invest, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;12/6/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3336934 | &nbsp;&nbsp;3263425 |
|  |  |  | &nbsp;&nbsp; 11571782 | &nbsp;&nbsp;11448375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONSUMER STAPLES - 1.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Velocity Made Food, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;6/12/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ENERGY - 3.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cogentrix Co-Investment Fund-D, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;1/31/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;999894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equitime SES Investor, LLC <sup>(a)(c)(d)(f)</sup> | &nbsp;&nbsp;6/3/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;1800000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Firebird Co-Investment Fund-D, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;11/15/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 308400 | &nbsp;&nbsp;370161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HEQ II Co-Investment Fund-D, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;11/15/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 388268 | &nbsp;&nbsp;524099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hercules CV, LP <sup>(a)(b)(c)(d)(e)</sup> | &nbsp;&nbsp;5/15/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3556065 | &nbsp;&nbsp;5300122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QB Energy Co-Investment Fund-D, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;11/15/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 479364 | &nbsp;&nbsp;479162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quantum Energy Partners VIII-D Co-Investment Fund, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;9/11/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 998493 | &nbsp;&nbsp;1184313 |
|  |  |  | &nbsp;&nbsp; 8530590 | &nbsp;&nbsp;10657751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**FINANCIALS - 7.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APH Extended Value Fund H, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;1/30/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 4975603 | &nbsp;&nbsp;5512145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arctos Keystone Atlas Co-Invest A, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;2/3/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 5575399 | &nbsp;&nbsp;6344669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Endurance Parallel Offshore LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;8/21/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 5147076 | &nbsp;&nbsp;5547199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JCF V Co-Invest E LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;6/23/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2020000 | &nbsp;&nbsp;2020000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JCF V Co-Invest River LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;6/2/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 5224886 | &nbsp;&nbsp;5260012 |
|  |  |  | &nbsp;&nbsp; 22942964 | &nbsp;&nbsp;24684025 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | | |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | | |
| **PRIVATE INVESTMENTS - 93.6% (Continued)** | **Acquisition Date** | **Shares** | <br>**Cost** | <br>**Value** |
| **CO-INVESTMENTS - 31.9% (Continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**HEALTHCARE - 3.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ClareMedica Parent Holdings, LP - Class A Units <sup>(c)(d)(f)</sup> | &nbsp;&nbsp;4/15/2025 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;$4000000 | &nbsp;&nbsp;$4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ClareMedica Parent Holdings, LP - Class C-1 Units <sup>(c)(d)(f)</sup> | &nbsp;&nbsp;4/15/2025 | &nbsp;&nbsp;28564 | &nbsp;&nbsp; – | &nbsp;&nbsp; – |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HS Investments VI C, LP <sup>(a)(c)(d)(f)</sup> | &nbsp;&nbsp;4/16/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 5045113 | &nbsp;&nbsp;5045113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RCP MQ Co-Investment Fund, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;12/26/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2515253 | &nbsp;&nbsp;3277845 |
|  |  |  | &nbsp;&nbsp; 11560366 | &nbsp;&nbsp;12322958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**INFORMATION TECHNOLOGY - 7.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caffeinated Capital Aven SPV III, LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;4/30/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2179450 | &nbsp;&nbsp;2173641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caffeinated Capital Playground SPV, LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;5/7/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;247394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GPS V, LP <sup>(a)(c)(d)(f)</sup> | &nbsp;&nbsp;4/25/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 5027273 | &nbsp;&nbsp;5027273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GrowthCurve Capital Destination Co-Invest LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;6/28/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1014468 | &nbsp;&nbsp;1003629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insight Hideaway Aggregator, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;10/21/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp;3230078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M13 SO X LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;7/19/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1615000 | &nbsp;&nbsp;1585847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overmatch Armada SPV B, LLC, Class A Units <sup>(b)(c)(d)</sup> | &nbsp;&nbsp;5/6/2025 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp; 4040000 | &nbsp;&nbsp;4000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snowpoint Growth 2.2, LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;11/26/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1520192 | &nbsp;&nbsp;1504412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snowpoint Growth 2.3, LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;3/17/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TI VI Project Armstrong Co-Invest, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;4/4/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 4461979 | &nbsp;&nbsp;4451035 |
|  |  |  | &nbsp;&nbsp; 23508362 | &nbsp;&nbsp;24223309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**UTILITIES - 1.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26N Jupiter Co-Investment Partners LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;10/31/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;2982631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stonepeak Cologix Holdings LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;9/5/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1625159 | &nbsp;&nbsp;1785675 |
|  |  |  | &nbsp;&nbsp; 4625159 | &nbsp;&nbsp;4768306 |
| **TOTAL CO-INVESTMENTS** |  |  | &nbsp;&nbsp; 99290513 | &nbsp;&nbsp;106209909 |
| **DIRECT INVESTMENTS - 5.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONSUMER DISCRETIONARY - 1.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wonder Group Inc., Series C Preferred Stock <sup>(c)(d)(f)</sup> | &nbsp;&nbsp;5/2/2025 | &nbsp;&nbsp;812601 | &nbsp;&nbsp; 6499996 | &nbsp;&nbsp;6499996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**FINANCIALS - 1.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pershing Square Holdco, LP <sup>(a)(c)(e)(f)</sup> | &nbsp;&nbsp;5/15/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;4000000 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | | |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | | |
| **PRIVATE INVESTMENTS - 93.6% (Continued)** | **Acquisition Date** | **Shares** | <br>**Cost** | <br>**Value** |
| **DIRECT INVESTMENTS - 5.2% (Continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**HEALTHCARE - 0.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earli, Inc., Series A-1 Preferred Stock <sup>(c)(d)(f)</sup> | &nbsp;&nbsp;10/4/2024 | &nbsp;&nbsp;1194457 | &nbsp;&nbsp;$999999 | &nbsp;&nbsp;$999999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**INDUSTRIALS - 1.6%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biofire Group Inc., SAFE <sup>(a)(c)(d)(f)</sup> | &nbsp;&nbsp;12/13/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 56825 | &nbsp;&nbsp;56825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biofire Group Inc., Series A Preferred Stock <sup>(c)(d)(f)</sup> | &nbsp;&nbsp;7/11/2024 | &nbsp;&nbsp;234345 | &nbsp;&nbsp; 249999 | &nbsp;&nbsp;249999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gridpoint, Inc. Series A Convertible Preferred Stock <sup>(c)(d)(f)</sup> | &nbsp;&nbsp;5/29/2025 | &nbsp;&nbsp;82500 | &nbsp;&nbsp; 1402500 | &nbsp;&nbsp;1402500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gridpoint, Inc. Series B Convertible Preferred Stock <sup>(c)(d)(f)</sup> | &nbsp;&nbsp;5/29/2025 | &nbsp;&nbsp;82500 | &nbsp;&nbsp; 1402500 | &nbsp;&nbsp;1402500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gridpoint, Inc. Series C1 Convertible Preferred Stock <sup>(c)(d)(f)</sup> | &nbsp;&nbsp;5/29/2025 | &nbsp;&nbsp;105233 | &nbsp;&nbsp; 2195003 | &nbsp;&nbsp;2195003 |
|  |  |  | &nbsp;&nbsp; 5306827 | &nbsp;&nbsp;5306827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**INFORMATION TECHNOLOGY - 0.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICON Technology, Inc., Common Stock <sup>(c)(d)(f)</sup> | &nbsp;&nbsp;5/30/2024 | &nbsp;&nbsp;54372 | &nbsp;&nbsp; 890699 | &nbsp;&nbsp;406000 |
| **TOTAL DIRECT INVESTMENTS** |  |  | &nbsp;&nbsp; 17697521 | &nbsp;&nbsp;17212822 |
| **PRIMARY FUND INVESTMENTS - 20.6%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AEROSPACE AND DEFENSE - 0.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AE Industrial Partners Aerospace Leasing Fund II-A, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;6/20/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1137208 | &nbsp;&nbsp;1137208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONSUMER DISCRETIONARY - 1.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arctos American Football Fund Feeder, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;6/6/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 4805068 | &nbsp;&nbsp;4805068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**DIVERSIFIED - 9.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26N Private Equity Partners I LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;3/25/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 424832 | &nbsp;&nbsp;275245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audax Senior Loan Fund I, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;1/1/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 4863326 | &nbsp;&nbsp;4968772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capstone Dispersion Fund (US) LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;9/1/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3536477 | &nbsp;&nbsp;3692433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DSC Meridian Credit Opportunities Offshore Fund LTD, Founders Class <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;6/3/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GCM Grosvenor Elevate Feeder Fund I, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;8/2/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2855868 | &nbsp;&nbsp;2085905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H.I.G. Capital Partners VII-B, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;3/31/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;64525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palmer Square Income Plus Fund LLC - Class A Shares <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;3/15/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;5263420 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | | |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | | |
| **PRIVATE INVESTMENTS - 93.6% (Continued)** | **Acquisition Date** | **Shares** | <br>**Cost** | <br>**Value** |
| **PRIMARY FUND INVESTMENTS - 20.6% (Continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**DIVERSIFIED - 9.9% (Continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Park Square Capital Credit Investments SCSp, SICAV-RAIF – Credit Partners Evergreen <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;1/29/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp;$5000000 | &nbsp;&nbsp;$5079005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Platinum Credit Opportunities Fund, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;10/25/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1969770 | &nbsp;&nbsp;2268643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saba Capital Carry Neutral Tail Hedge Partners, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;7/1/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;3459380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TowerBrook Structured Opportunities Fund III (892), LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;1/10/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 188940 | &nbsp;&nbsp;319406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trivest Growth Investment Fund III-A, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;4/17/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 216804 | &nbsp;&nbsp;210749 |
|  |  |  | &nbsp;&nbsp; 32631017 | &nbsp;&nbsp;32687483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ENERGY - 3.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EnCap Energy Capital Fund XII-B, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;11/8/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3155650 | &nbsp;&nbsp;4030345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Five Point Water Management and Sustainable Infrastructure Fund IV LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;10/3/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1009171 | &nbsp;&nbsp;1729225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quantum Parallel Partners VIII-D, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;9/11/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 6519130 | &nbsp;&nbsp;7023956 |
|  |  |  | &nbsp;&nbsp; 10683951 | &nbsp;&nbsp;12783526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**FINANCIALS - 0.1%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petershill PES II Offshore SCSp <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;5/30/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 284168 | &nbsp;&nbsp;284168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**HOTELS, RESTAURANTS & LEISURE - 0.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F&S I Blocker Member LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;11/1/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2943750 | &nbsp;&nbsp;2364019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**INFORMATION TECHNOLOGY - 4.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Catalyst Group XII, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;10/17/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3015944 | &nbsp;&nbsp;3159646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. Barton Venture Select V, LLC <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;4/18/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 930000 | &nbsp;&nbsp;928692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M13 Ventures IV, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;11/25/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;1537729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tacora Capital II, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;3/12/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 1869765 | &nbsp;&nbsp;1859560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tamarack Global Opportunities II, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;8/1/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3625000 | &nbsp;&nbsp;3892426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vista Equity Partners Fund VIII-A, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;7/31/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2753911 | &nbsp;&nbsp;3121372 |
|  |  |  | &nbsp;&nbsp; 13994620 | &nbsp;&nbsp;14499425 |
| **TOTAL PRIMARY FUND INVESTMENTS** |  |  | &nbsp;&nbsp; 66479782 | &nbsp;&nbsp;68560897 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | | |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | | |
| **PRIVATE INVESTMENTS - 93.6% (Continued)** | **Acquisition Date** | **Shares** | <br>**Cost** | <br>**Value** |
| **SECONDARY FUND INVESTMENTS - 35.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONSUMER DISCRETIONARY - 3.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arctos Sports Partners Fund I, LP <sup>(a)(b)(c)(d)(e)</sup> | &nbsp;&nbsp;7/1/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp;$8761799 | &nbsp;&nbsp;$10153894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**DIVERSIFIED - 6.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dawson Rated Fund 6-R1 Holdings LP <sup>(a)(b)(c)(d)(e)</sup> | &nbsp;&nbsp;9/30/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 4001986 | &nbsp;&nbsp;4834835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gordon Holdings (Offshore) I LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;3/26/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 11431731 | &nbsp;&nbsp;15814865 |
|  |  |  | &nbsp;&nbsp; 15433717 | &nbsp;&nbsp;20649700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**FINANCIALS - 25.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone Strategic Capital Holdings (Cayman) LP <sup>(a)(c)(d)(f)</sup> | &nbsp;&nbsp;6/30/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 8474860 | &nbsp;&nbsp;8474860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone Strategic Capital Holdings LP <sup>(a)(b)(c)(d)(e)</sup> | &nbsp;&nbsp;12/30/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 14552106 | &nbsp;&nbsp;18402480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl GP Stakes Atlas Fund I Offshore Investors LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;8/6/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 21919918 | &nbsp;&nbsp;26048393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl GP Stakes II Pension Investors LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;4/1/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2149869 | &nbsp;&nbsp;2702753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl GP Stakes IV Offshore Investors, LP <sup>(a)(c)(d)(f)</sup> | &nbsp;&nbsp;4/1/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 3686915 | &nbsp;&nbsp;3686915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl GP Stakes IV US Investors, LP <sup>(a)(b)(c)(d)(e)</sup> | &nbsp;&nbsp;9/30/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 8628652 | &nbsp;&nbsp;12622946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl GP Stakes Offshore Investors LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;4/1/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 5503015 | &nbsp;&nbsp;7406807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl GP Stakes US Investors LP <sup>(a)(b)(c)(d)(e)</sup> | &nbsp;&nbsp;1/1/2025 | &nbsp;&nbsp; – | &nbsp;&nbsp; 954244 | &nbsp;&nbsp;1302596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Petershill Private Equity Seeding Offshore SCSp <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;7/2/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 4437725 | &nbsp;&nbsp;5547097 |
|  |  |  | &nbsp;&nbsp; 70307304 | &nbsp;&nbsp;86194847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**INFORMATION TECHNOLOGY - 0.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NEA Secondary Opportunity Fund, LP <sup>(a)(b)(c)(d)</sup> | &nbsp;&nbsp;7/17/2024 | &nbsp;&nbsp; – | &nbsp;&nbsp; 2142723 | &nbsp;&nbsp;3028074 |
| **TOTAL SECONDARY FUND INVESTMENTS** |  |  | &nbsp;&nbsp; 96645543 | &nbsp;&nbsp;120026515 |
| **TOTAL PRIVATE INVESTMENTS** | **TOTAL PRIVATE INVESTMENTS** |  | &nbsp;&nbsp;$280113359 | &nbsp;&nbsp;$312010143 |

---

---

| | | | |
|:---|:---|:---|:---|
| **CAZ STRATEGIC OPPORTUNITIES FUND** | **CAZ STRATEGIC OPPORTUNITIES FUND** | | |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)** | | |
| **MONEY MARKET SECURITIES - 7.5%** | **Shares** | <br>**Cost** | <br>**Value** |
| Federated Treasury Obligations Fund - Institutional Shares, 4.15% <sup>(e)(g)</sup> | 25070728 | $25070728 | $25070728 |
| **TOTAL INVESTMENTS AT VALUE - 101.1%** |  | &nbsp;&nbsp;$305184087 | &nbsp;&nbsp;$337080871 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS - (1.1%)** |  |  | &nbsp;&nbsp; (3734251) |
| **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp;$333346620 |

---

<sup>(a)</sup> Investment does not issue shares.

<sup>(b)</sup> Investment is valued using the Fund's pro rata net asset value (or its equivalent) as a practical expedient.

<sup>(c)</sup> Restricted investments as to resale. The total of these restricted securities represents 93.6% of Net Assets. The total value of these securities is $312,010,143.

<sup>(d)</sup> Non-income producing security.

<sup>(e)</sup> All or a portion of the security is held through a wholly-owned consolidated Subsidiary, CAZ SOF Opportunistic Blocker LLC.

<sup>(f)</sup> Level 3 securities fair valued using significant unobservable inputs. The total of these Level 3 securities represents 13.6% of Net Assets. The total value of these securities is $45,246,983.

<sup>(g)</sup> The rate shown is the 7-day effective yield as of June 30, 2025.

---

| | |
|:---|:---|
| LLC | Limited Liability Company |
| LP | Limited Partnerships |
| SAFE | Simple Agreement for Future Equity |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** CAZ Strategic Opportunities Fund

- **b. Investment Company Act file number:** 811-23892

- **c. CIK number of Registrant:** 0001984165

- **d. LEI of Registrant:** 529900ED7EM1EEMMKU09

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

  - **Street Address 1:** One Riverway

  - **City:** Houston

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 77056

  - **Telephone number:** 713-403-8250

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

- **a. Name of Series:** CAZ Strategic Opportunities Fund

- **c. LEI of Series:** 529900ED7EM1EEMMKU09

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

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

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $334368806.93

**Total Liabilities:** $1022187.02

**Net Assets:** $333346619.91

**Cash Not Reported:** $6340675.55

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 2.92%                | 0.17%                | 0.42%                |
| Class ID N/A | 2.89%                | 0.04%                | 0.38%                |
| Class ID N/A | 0.00%                | 0.13%                | 0.38%                |
| Class ID N/A | 2.88%                | 0.08%                | 0.38%                |
| Class ID N/A | 2.96%                | 0.13%                | 0.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $7942079.59                                |
| Month 2  | $4349.91                 | $610657.73                                 |
| Month 3  | $0.00                    | $1844891.85                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| N/A    | TowerBrook Structured Opportunities Fund III, LP                     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    188940 | NS      | $319406.00    | 0.10%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Cogentrix Co-Investment Fund-D, LP                                   | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1000000 | NS      | $999894.00    | 0.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Tamarack Global Impulse Space II, LP                                 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1500000 | NS      | $1485000.00   | 0.45%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | GrowthCurve Capital Destination Co-Invest LP                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1015121 | NS      | $1003629.00   | 0.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | JCF V Co-Invest E LP                                                 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2020000 | NS      | $2020000.00   | 0.61%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | AE Co-Investment Partners Fund III-R, LP                             | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2007790 | NS      | $2004954.40   | 0.60%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | AE Industrial Partners Aerospace Leasing Fund II-A, LP               | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2491773 | NS      | $1137207.87   | 0.34%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Blue Owl GP Stakes IV Offshore Investors, LP                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3855443 | NS      | $3686914.94   | 1.11%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Blue Owl GP Stakes US Investors LP                                   | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    975676 | NS      | $1302596.26   | 0.39%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Platinum Credit Opportunities Fund, LP                               | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3619969 | NS      | $2268643.00   | 0.68%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Saba Capital Carry Neutral Tail Hedge Partners, LP                   | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3500000 | NS      | $3459380.10   | 1.04%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | HS Investments VI-C, LP                                              | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   5045113 | NS      | $5045113.00   | 1.51%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Gridpoint, Inc. Series A Convertible Pref Stock                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1402500 | NS      | $1402500.00   | 0.42%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | F&S Blocker Member LLC                                               | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3000000 | NS      | $2364019.00   | 0.71%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Blue Owl GP Stakes II Pension Investors LP                           | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2515072 | NS      | $2702753.22   | 0.81%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | H. Barton Venture Select V LLC                                       | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    931695 | NS      | $928692.00    | 0.28%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Palmer Square Income Plus Fund LLC                                   | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   4891210 | NS      | $5263419.00   | 1.58%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | NEA Secondary Opportunity Fund, LP                                   | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2402053 | NS      | $3028073.76   | 0.91%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Overmatch Armada SPV B, LLC                                          | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   4040000 | NS      | $4000000.00   | 1.20%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Hercules CV, LP                                                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3692454 | NS      | $5300121.01   | 1.59%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | GCM Grosvenor Elevate Feeder Fund I, LP                              | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3797648 | NS      | $2085905.33   | 0.63%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | PeterShill PES II Offshore SCSp                                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    284168 | NS      | $284167.83    | 0.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | General Catalyst Group XII, LP                                       | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2957040 | NS      | $3159646.39   | 0.95%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Tamarack Global Opportunities II, LP                                 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3625000 | NS      | $3892426.00   | 1.17%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Vista Equity Partners Fund VIII-A, LP                                | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2781317 | NS      | $3121372.00   | 0.94%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | M13 SO X LLC                                                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1615000 | NS      | $1585847.00   | 0.48%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Biofire Group, Inc.                                                  | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    249999 | NS      | $249999.25    | 0.07%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Blue Owl GP Stakes Offshore Investors LP                             | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   5697218 | NS      | $7406806.75   | 2.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | ClareMedica Parent Holdings, LP - Class A Units                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     40000 | NS      | $4000000.00   | 1.20%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Federated Treasury Obligations Fund Institutional Shares             | CUSIP: N/A<br>LEI: N/A | Long             | STIV             | RF                | US        |  25070728 | NS      | $25070728.03  | 7.52%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Caffeinated Capital Saronic SPV, LLC                                 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1000000 | NS      | $2608430.52   | 0.78%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Arctos Florida Coinvestment Holdings Feeder LP                       | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   4660536 | NS      | $4660536.00   | 1.40%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | 26N Private Equity Partners I LP                                     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    424832 | NS      | $275245.00    | 0.08%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | QB Energy Co-Investment Fund-D, LP                                   | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    479364 | NS      | $479162.48    | 0.14%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Snowpoint Growth 2.3, LLC                                            | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1000000 | NS      | $1000000.00   | 0.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | HEQ II Co-Investment Fund-D, LP                                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    388268 | NS      | $524099.45    | 0.16%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Tacora Capital II, LP                                                | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1869765 | NS      | $1859560.00   | 0.56%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Gridpoint, Inc. Series B Convertible Pref Stock                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1402500 | NS      | $1402500.00   | 0.42%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Firebird Co-Investment Fund-D, LP                                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    308400 | NS      | $370161.00    | 0.11%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | 26N Jupiter Co-Investment Partners LP                                | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3000000 | NS      | $2982631.00   | 0.89%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | H.I.G. Capital Partners VII-B, LP                                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     75000 | NS      | $64525.00     | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Gridpoint, Inc. Series C1 Convertible Pref Stock                     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2195003 | NS      | $2195002.53   | 0.66%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Blue Owl GP Stakes Atlas Fund I Offshore Investors                   | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |  24000000 | NS      | $26048393.05  | 7.81%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Velocity Made Food, LP                                               | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   5000000 | NS      | $5000000.00   | 1.50%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Biofire Group Inc., Safe                                             | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     56825 | NS      | $56825.00     | 0.02%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | ASP II Project Striker Co-Invest, LP                                 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3391393 | NS      | $3263425.00   | 0.98%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Five Point Water MGMT & Sustainable Infra Fund                       | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1045991 | NS      | $1729225.00   | 0.52%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Pershing Square Holdco, LP                                           | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   4000000 | NS      | $4000000.00   | 1.20%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Blue Owl GP Stakes IV US Investors, LP                               | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   9704789 | NS      | $12622946.29  | 3.79%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Blackstone Strategic Capital Holdings, LP                            | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |  15126277 | NS      | $18402480.00  | 5.52%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | ASP II AMR Co-Invest, LP                                             | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3531888 | NS      | $3524414.00   | 1.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Arctos Sports Partners Fund I, LP                                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   9129397 | NS      | $10153894.00  | 3.05%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | JCF V Co-Invest River LP                                             | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | KY        |   3838441 | NS      | $5260011.79   | 1.58%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Endurance Parallel Offshore LP                                       | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   5147076 | NS      | $5547199.00   | 1.66%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Wonder Group, Inc. Series C Preferred Stock                          | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   6499996 | NS      | $6499995.94   | 1.95%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Caffeinated Capital Playground SPV, LLC                              | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    250000 | NS      | $247393.79    | 0.07%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Arctos Keystone Atlas Co-Invest A, LP                                | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | DE        |   5405405 | NS      | $6344668.86   | 1.90%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | DSC Meridian Credit Opportunities  Offshore Fund LTD, Founders Class | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   5000000 | NS      | $5000000.00   | 1.50%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Petershill Private Equity Seeding Offshore SCsp                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   4438633 | NS      | $5547096.85   | 1.66%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Quantum Energy Partners VIII-D Co-Investment Fund                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1142809 | NS      | $1184313.23   | 0.36%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Caffeinated Capital Onebrief SPV, LLC                                | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2000000 | NS      | $1997410.45   | 0.60%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Arctos American Football Fund Feeder LP                              | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   4805068 | NS      | $4805068.00   | 1.44%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | APH Extended Value Fund H, LP                                        | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   4975603 | NS      | $5512145.00   | 1.65%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Caffeinated Capital Aven SPV III, LLC                                | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2179450 | NS      | $2173640.89   | 0.65%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | TI VI Project Armstrong Co-Invest, LP                                | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   4461979 | NS      | $4451036.00   | 1.34%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | RCP MQ Co-Investment Fund, LP                                        | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2515253 | NS      | $3277845.00   | 0.98%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Insight Hideaway Aggregator, LP                                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2550833 | NS      | $3230077.77   | 0.97%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Stonepeak Cologix Holdings, LP                                       | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1636121 | NS      | $1785675.00   | 0.54%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Gordon Holdings (Offshore) I LP                                      | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |  12972725 | NS      | $15814864.90  | 4.74%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Park Square Capital Credit Investments                               | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   5000000 | NS      | $5079005.40   | 1.52%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Snowpoint Growth 2.2, LLC                                            | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1520192 | NS      | $1504412.00   | 0.45%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | GPS V, LP                                                            | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   5027273 | NS      | $5027272.72   | 1.51%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Icon Technology, Inc.                                                | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     54372 | NS      | $406000.00    | 0.12%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Equitime SES Investor, LLC                                           | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1800000 | NS      | $1800000.00   | 0.54%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Encap Energy Capital Fund XII-B, LP                                  | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   4759368 | NS      | $4030345.05   | 1.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Earli, Inc.                                                          | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    999999 | NS      | $999999.41    | 0.30%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Audax Senior Loan Fund I, LP                                         | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   5000000 | NS      | $4968772.27   | 1.49%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | M13 Ventures IV, LP                                                  | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   1800000 | NS      | $1537729.00   | 0.46%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | ClareMedica Parent Holdings, LP - Class C-1 Units                    | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |     28564 | NS      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Snowpoint Growth I.VI, LLC                                           | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3043500 | NS      | $3012217.00   | 0.90%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Quantum Parallel Partners VIII-D, LP                                 | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   7794310 | NS      | $7023955.55   | 2.11%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Caffeinated Capital Varda SPV II, LLC                                | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   2000000 | NS      | $1997172.97   | 0.60%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Blackstone Strategic Capital Holdings (Cayman), LP                   | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   8474860 | NS      | $8474859.62   | 2.54%             |  |  |  | Yes           | 3                  | On Loan: No      |
| N/A    | Trivest Growth Investment Fund III-A, LP                             | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |    216804 | NS      | $210749.00    | 0.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Capstone Dispersion Fund (US) LP                                     | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3536477 | NS      | $3692433.00   | 1.11%             |  |  |  | Yes           | N/A                | On Loan: No      |
| N/A    | Dawson Partner Rated Fund                                            | CUSIP: N/A<br>LEI: N/A | Long             |  | PF                | US        |   3420486 | NS      | $4834834.92   | 1.45%             |  |  |  | Yes           | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** CAZ Strategic Opportunities Fund

**Signature:** Marcie McVeigh

**Name of Signer:** Marcie McVeigh

**Title:** Treasurer