# EDGAR Filing Document

**Accession Number:** 0001725472
**File Stem:** 0001410368-25-032295
**Filing Date:** 2025-11
**Character Count:** 749249
**Document Hash:** 5f5743c857aee59bf3ed64395a2398c3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-032295.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-032295

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Carlyle Tactical Private Credit Fund
- **CENTRAL INDEX KEY:** 0001725472

**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:** 811-23319
- **FILM NUMBER:** 251527566

**BUSINESS ADDRESS:**
- **STREET 1:** ONE VANDERBILT AVE STE 3400
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 833-677-3646

**MAIL ADDRESS:**
- **STREET 1:** ONE VANDERBILT AVE STE 3400
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OFI Carlyle Private Credit Fund
- **DATE OF NAME CHANGE:** 20180418

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Carlyle Global Private Credit Fund
- **DATE OF NAME CHANGE:** 20180418

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OFI Carlyle Global Private Credit Fund
- **DATE OF NAME CHANGE:** 20171214

## Nport-Ex

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| **First Lien Debt (91.2% of Net Assets)** | **First Lien Debt (91.2% of Net Assets)** | | | | | | | | |
| 1251 Insurance Distribution Platform Payco, LP | Revolver | (4) (5) (6) (14) | Insurance | SOFR + 475 | 8.84% | 3/31/2031 | $831 | $805 | $815 |
| 1251 Insurance Distribution Platform Payco, LP | Term Loan | (2) (3) (4) (5) (14) | Insurance | SOFR + 475 | 8.75% | 3/31/2031 | 14386 | 14248 | 14302 |
| 222 North Miami, LLC | Term Loan, Tranche B | (4) (5) (6) (14) | Real Estate Management & Development | SOFR + 1318 | 17.49% | 12/1/2025 | 13956 | 13956 | 14258 |
| AAH Topco, LLC | Delayed Draw Term Loan, Class C | (4) (5) (6) (13) (14) | Health Care Providers & Services | SOFR + 500 | 9.26% | 12/31/2027 | 88 | 79 | 82 |
| ACR Group Borrower, LLC | Delayed Draw Term Loan | (2) (3) (4) (5) (14) | Aerospace & Defense | SOFR + 475 | 8.75% | 3/31/2028 | 546 | 542 | 546 |
| ACR Group Borrower, LLC | Term Loan, Incremental | (2) (3) (4) (5) (14) | Aerospace & Defense | SOFR + 475 | 8.75% | 3/31/2028 | 866 | 860 | 866 |
| Acrisure, LLC | Term Loan, Tranche B6 | (2) (3) (4) | insurance | SOFR + 300 | 7.16% | 11/6/2030 | 8168 | 8168 | 8145 |
| Acuris Finance US, Inc. | Term Loan | (2) (4) (21) | Financial Services | SOFR + 375 | 8.05% | 2/16/2028 | 8977 | 8977 | 8974 |
| ADPD Holdings, LLC | Revolver | (4) (5) (13) (14) | Consumer Services | SOFR + 600 | 10.26% | 8/16/2028 | 888 | 878 | 811 |
| ADPD Holdings, LLC | Term Loan | (2) (3) (4) (5) (13) (14) | Consumer Services | SOFR + 600 | 10.52% | 8/16/2028 | 11449 | 11301 | 10463 |
| Advanced Web Technologies Holding Company | Term Loan, 3rd Amendment | (4) (5) (8) (14) | Containers, Packaging & Glass | SOFR + 400, 2.25% PIK | 10.44% | 12/17/2027 | 401 | 396 | 400 |
| Advanced Web Technologies Holding Company | Delayed Draw Term Loan, 4th Amendment | (2) (4) (5) (6) (8) (14) | Containers, Packaging & Glass | SOFR + 400, 2.25% PIK | 10.09% | 12/17/2027 | 481 | 462 | 479 |
| Advanced Web Technologies Holding Company | Term Loan, 4th Amendment | (2) (3) (4) (5) (8) (14) | Containers, Packaging & Glass | SOFR + 400, 2.25% PIK | 10.09% | 12/17/2027 | 1037 | 1025 | 1036 |
| Advanced Web Technologies Holding Company | Delayed Draw Term Loan | (2) (3) (4) (5) (8) (14) | Containers, Packaging & Glass | SOFR + 400, 2.25% PIK | 10.09% | 12/17/2027 | 734 | 731 | 734 |
| Advanced Web Technologies Holding Company | Delayed Draw Term Loan 2 | (2) (3) (4) (5) (8) (14) | Containers, Packaging & Glass | SOFR + 400, 2.25% PIK | 10.09% | 12/17/2027 | 1062 | 1057 | 1061 |
| Advanced Web Technologies Holding Company | Term Loan | (2) (3) (4) (5) (8) (14) | Containers, Packaging & Glass | SOFR + 400, 2.25% PIK | 10.09% | 12/17/2027 | 3930 | 3915 | 3925 |
| Advanced Web Technologies Holding Company | Delayed Draw Term Loan | (2) (3) (4) (5) (8) (14) | Containers, Packaging & Glass | SOFR + 400, 2.25% PIK | 10.09% | 12/17/2027 | 1443 | 1437 | 1442 |
| Advanced Web Technologies Holding Company | Revolver | (2) (3) (4) (5) (6) (8) (14) | Containers, Packaging & Glass | SOFR + 350, 2.25% PIK | 9.75% | 12/17/2027 | 45 | 42 | 45 |
| Advisor Group, Inc. | Term Loan | (2) (4) (21) | Financial Services | SOFR + 300 | 7.13% | 8/1/2032 | 15000 | 14959 | 14987 |
| AI Aqua Merger Sub, Inc. | Term Loan, Tranche B | (2) (4) (14) (21) | Commercial Services & Supplies | SOFR + 300 | 7.28% | 7/31/2028 | 11039 | 10933 | 11059 |
| AI Grace AUS Bidco Pty. Ltd. | Term Loan, Tranche B | (2) (3) (4) (5) (14) | Specialty Retail | SOFR + 525 | 9.40% | 12/17/2029 | 18286 | 18286 | 18160 |
| Alera Group, Inc. | Term Loan | (2) (4) (21) | Insurance | SOFR + 325 | 7.41% | 5/30/2032 | 7000 | 6966 | 7023 |
| Align Precision Group, LLC | Delayed Draw Term Loan | (4) (6) (8) (14) | Aerospace & Defense | SOFR + 6.75% PIK | 10.55% | 7/3/2030 | 771 | 749 | 771 |
| Align Precision Group, LLC | Term Loan, Tranche A1 | (2) (3) (4) (8) (14) | Aerospace & Defense | SOFR + 6.75% PIK | 10.75% | 7/3/2030 | 5926 | 5926 | 5926 |
| Alliant Holdings Intermediate, LLC | Term Loan, Tranche B | (2) (4) (21) | Insurance | SOFR + 250 | 6.67% | 9/19/2031 | 9913 | 9902 | 9884 |
| Allied Benefit Systems Intermediate, LLC | Delayed Draw Term Loan | (2) (4) (5) | Health Care Providers & Services | SOFR + 525 | 9.44% | 10/31/2030 | 3121 | 3084 | 3121 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Allied Benefit Systems Intermediate, LLC | Term Loan | (2) (3) (4) (5) | Health Care Providers & Services | SOFR + 525 | 9.41% | 10/31/2030 | 17018 | 16817 | 17018 |
| Allied Universal Holdco, LLC | Term Loan, Tranche B | (2) (4) (21) | Commercial Services & Supplies | SOFR + 325 | 7.39% | 8/6/2032 | 10000 | 9988 | 10032 |
| AllSpring Buyer, LLC | Term Loan, Tranche B | (2) (4) (21) | Financial Services | SOFR + 275 | 6.81% | 11/1/2030 | 2985 | 2985 | 2989 |
| Alpine Acquisition Corp. II | Term Loan | (2) (3) (4) (5) (13) (14) (15) | Transportation | SOFR + 600 | 10.32% | 11/30/2029 | 21120 | 20776 | 10386 |
| Alpine Acquisition Corp. II | Revolver | (4) (5) (6) (13) (14) (15) | Transportation | SOFR + 600 | 10.32% | 11/30/2029 | 2752 | 2713 | 1001 |
| Alterra Mountain Co. | Term Loan, Tranche B9 | (2) (4) (14) (21) | Hotels, Restaurants & Leisure | SOFR + 275 | 6.91% | 8/17/2028 | 3159 | 3149 | 3158 |
| AmpersCap LLC | Delayed Draw Term Loan | (2) (3) (4) (5) (6) (14) | Financial Services | SOFR + 525 | 9.25% | 12/17/2032 | 24622 | 24024 | 23969 |
| Amynta Agency Borrower, Inc. | Term Loan, Tranche B | (2) (3) (4) | Financial Services | SOFR + 275 | 6.91% | 12/29/2031 | 3657 | 3657 | 3642 |
| Anticimex Global AB | Term Loan, Tranche B6 | (2) (4) (14) (21) | Commercial Services & Supplies | SOFR + 340 | 7.66% | 11/16/2028 | 610 | 610 | 611 |
| Anticimex Global AB | Term Loan, Tranche B1 | (2) (3) (4) (14) | Commercial Services & Supplies | SOFR + 340 | 7.44% | 11/16/2028 | 4883 | 4839 | 4888 |
| AP Plastics Acquisition Holdings, LLC | Term Loan, Tranche B | (2) (3) (4) (5) (6) (13) (14) | Chemicals, Plastics & Rubber | SOFR + 475 | 9.00% | 8/10/2030 | 18973 | 18947 | 18985 |
| AP Plastics Acquisition Holdings, LLC | Delayed Draw Term Loan | (2) (3) (4) (5) (13) (14) | Chemicals, Plastics & Rubber | SOFR + 475 | 8.98% | 8/10/2030 | 128 | 128 | 128 |
| Apex Companies Holdings, LLC | Delayed Draw Term Loan | (4) (5) (14) | Commercial Services & Supplies | SOFR + 525 | 9.45% | 1/31/2028 | 756 | 745 | 755 |
| Apex Companies Holdings, LLC | Delayed Draw Term Loan, Specified | (4) (5) (14) | Commercial Services & Supplies | SOFR + 525 | 9.56% | 1/31/2028 | 147 | 145 | 147 |
| Apex Companies Holdings, LLC | Term Loan | (2) (3) (4) (5) (14) | Commercial Services & Supplies | SOFR + 525 | 9.56% | 1/31/2028 | 3179 | 3132 | 3177 |
| Apex Companies Holdings, LLC | Delayed Draw Term Loan, Tranche A | (4) (5) (14) | Commercial Services & Supplies | SOFR + 525 | 9.27% | 1/31/2028 | 1211 | 1204 | 1210 |
| Apex Companies Holdings, LLC | Delayed Draw Term Loan, Tranche B | (4) (5) (14) | Commercial Services & Supplies | SOFR + 525 | 9.27% | 1/31/2028 | 2471 | 2456 | 2470 |
| Apex Companies Holdings, LLC | Delayed Draw Term Loan, 3rd Amendment | (4) (5) (6) (14) | Commercial Services & Supplies | SOFR + 525 | 9.45% | 1/31/2028 | 1815 | 1774 | 1813 |
| Apex Companies Holdings, LLC | Delayed Draw Term Loan, Specified | (4) (5) (14) | Commercial Services & Supplies | SOFR + 525 | 9.45% | 1/31/2028 | 1655 | 1637 | 1654 |
| Apex Companies Holdings, LLC | Term Loan, Incremental | (2) (3) (4) (5) (14) | Commercial Services & Supplies | SOFR + 525 | 9.45% | 1/31/2028 | 506 | 501 | 506 |
| Applied Technical Services, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Professional Services | SOFR + 525 | 9.25% | 4/8/2031 | 24897 | 24652 | 24750 |
| Applied Technical Services, LLC | Delayed Draw Term Loan, Tranche A | (4) (5) (6) (14) | Professional Services | SOFR + 525 | 9.25% | 4/8/2031 | 704 | 692 | 697 |
| Applied Technical Services, LLC | Revolver | (4) (5) (6) (14) | Professional Services | SOFR + 525 | 9.25% | 4/8/2031 | 403 | 380 | 389 |
| Appriss Health, LLC | Term Loan | (2) (3) (4) (5) (6) (13) (14) | Health Care Providers & Services | SOFR + 475 | 9.02% | 5/6/2028 | 6498 | 6447 | 6502 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Arcline FM Holdings, LLC | Term Loan | (2) (4) (21) | Aerospace & Defense | SOFR + 350 | 7.58% | 6/24/2030 | 5985 | 5971 | 5980 |
| Ardonagh Midco 3 Limited | Term Loan, Tranche B | (2) (4) (21) | Insurance | SOFR + 275 | 6.75% | 2/15/2031 | 4975 | 4975 | 4946 |
| Aretec Group, Inc. | Term Loan, Tranche B | (2) (4) (21) | Capital Markets | SOFR + 350 | 7.82% | 8/9/2030 | 1489 | 1489 | 1489 |
| Armor Holdco Inc. | Term Loan | (2) (3) (4) (14) | Professional Services | SOFR + 375 | 7.92% | 12/11/2028 | 1926 | 1915 | 1924 |
| Artifact Bidco, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Software | SOFR + 425 | 8.55% | 7/26/2031 | 17611 | 17397 | 17720 |
| Ascend Buyer, LLC | Term Loan, 4th Amendment | (2) (3) (4) (5) (6) (14) | Containers, Packaging & Glass | SOFR + 575 | 9.75% | 9/30/2028 | 1123 | 1106 | 1117 |
| Ascend Buyer, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Containers, Packaging & Glass | SOFR + 575 | 9.75% | 9/30/2028 | 16200 | 16023 | 16148 |
| Ascensus Holdings, Inc. | Term Loan, Tranche B | (2) (3) (4) | Financial Services | SOFR + 300 | 7.16% | 8/2/2028 | 4896 | 4873 | 4888 |
| Associations, Inc. | Delayed Draw Term Loan, Special Purpose | (4) (5) (6) (13) (14) | Construction & Engineering | SOFR + 650 | 11.08% | 7/2/2028 | 1150 | 1148 | 1165 |
| Associations, Inc. | Term Loan, Tranche A, 2nd Amendment | (2) (3) (4) (5) (6) (13) (14) | Construction & Engineering | SOFR + 650 | 11.08% | 7/2/2028 | 38919 | 38886 | 39114 |
| Associations, Inc. | Term Loan, Tranche A | (5) (8) | Construction & Engineering | 14.25% PIK | 14.25% | 5/3/2030 | 13263 | 13216 | 13304 |
| Associations, Inc. | Term Loan, Tranche B | (5) (8) | Construction & Engineering | 14.25% PIK | 14.25% | 5/3/2030 | 5065 | 5047 | 5080 |
| Aston Bidco (Holding) Limited | Term Loan | (4) (13) (14) | Software | SONIA + 600 | 10.09% | 7/31/2032 | £11329 | 14593 | 14855 |
| Aston IntermediateCo Limited | Term Loan | (4) (8) (13) | Software | SONIA + 1000, 0.75% PIK | 15.00% | 7/31/2033 | £10513 | 13541 | 13786 |
| Astra Acquisition Corp. | Term Loan, Tranche B | (2) (3) (4) (5) (14) (15) | Software | SOFR + 525 | 9.55% | 10/25/2028 | 20068 | 5533 | 50 |
| Asurion, LLC | Term Loan, Tranche B10 | (2) (3) (4) (13) | Insurance | SOFR + 400 | 8.26% | 8/19/2028 | 960 | 934 | 962 |
| Athenahealth Group, Inc. | Term Loan, Tranche B | (2) (3) (4) (14) | Software | SOFR + 275 | 6.91% | 2/15/2029 | 9018 | 8966 | 8995 |
| Athlete Buyer, LLC | Delayed Draw Term Loan A, 3rd Amendment | (2) (3) (4) (5) (13) (14) | Consumer Services | SOFR + 575 | 9.85% | 4/26/2029 | 4389 | 4322 | 3842 |
| Athlete Buyer, LLC | Delayed Draw Term Loan B, 3rd Amendment | (4) (5) (13) (14) | Consumer Services | SOFR + 575 | 9.85% | 4/26/2029 | 13399 | 13200 | 11731 |
| Athlete Buyer, LLC | Delayed Draw Term Loan C, 3rd Amendment | (4) (5) (6) (13) (14) | Consumer Services | SOFR + 575 | 9.85% | 4/26/2029 | 4040 | 3932 | 3118 |
| Athlete Buyer, LLC | Delayed Draw Term Loan, Tranche A | (2) (3) (4) (5) (6) (13) (14) | Consumer Services | SOFR + 575 | 9.85% | 4/26/2029 | 3046 | 2894 | 1742 |
| Athlete Buyer, LLC | Revolver | (4) (5) (6) (13) (14) | Consumer Services | SOFR + 575 | 9.85% | 4/26/2029 | 894 | 875 | 712 |
| Athlete Buyer, LLC | Delayed Draw Term Loan, Tranche D | (2) (3) (4) (5) (13) (14) | Consumer Services | SOFR + 575 | 9.85% | 4/26/2029 | 1483 | 1461 | 1299 |
| Atlas US Finco, Inc. | Term Loan, 3rd Amendment | (2) (3) (4) (5) (6) (14) | Software | SOFR + 475 | 9.08% | 12/9/2029 | 14018 | 13941 | 14030 |
| Atlas US Finco, Inc. | Term Loan | (2) (3) (4) (14) | Software | SOFR + 475 | 9.08% | 12/9/2029 | 2861 | 2803 | 2864 |
| Atlas US Finco, Inc. | Term Loan, Incremental | (2) (3) (4) (5) (14) | Software | SOFR + 475 | 9.08% | 12/9/2029 | 1325 | 1305 | 1326 |
| AuditBoard, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Software | SOFR + 450 | 8.50% | 7/12/2031 | 15000 | 14787 | 14882 |
| Avalara, Inc. | Term Loan | (2) (4) (21) | Financial Services | SOFR + 325 | 7.25% | 3/20/2032 | 6983 | 6950 | 6981 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Azurite Intermediate Holdings, Inc. | Delayed Draw Term Loan | (2) (3) (4) (5) (14) | Software | SOFR + 600 | 10.16% | 3/19/2031 | 14906 | 14697 | 15055 |
| Azurite Intermediate Holdings, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Software | SOFR + 600 | 10.16% | 3/19/2031 | 6559 | 6448 | 6624 |
| Barnes & Noble, Inc. | Term Loan | (2) (3) (4) (11) (14) | Specialty Retail | SOFR + 716 | 11.42% | 5/7/2030 | 1658 | 1623 | 1635 |
| Bausch & Lomb Corp. | Term Loan | (2) (4) (21) | Health Care Providers & Services | SOFR + 400 | 8.17% | 9/29/2028 | 4900 | 4868 | 4894 |
| Bausch & Lomb Corp. | Term Loan, Tranche B | (2) (4) (21) | Health Care Providers & Services | SOFR + 400 | 8.16% | 12/18/2030 | 9975 | 9927 | 9967 |
| BCPE Empire Holdings, Inc. | Term Loan, Tranche B | (2) (4) (21) | Trading Companies & Distributors | SOFR + 325 | 7.38% | 12/11/2030 | 1481 | 1479 | 1478 |
| BCPE Pequod Buyer, Inc. | Term Loan, Tranche B | (2) (3) (4) | Containers, Packaging & Glass | SOFR + 300 | 7.16% | 9/19/2031 | 7232 | 7199 | 7241 |
| Bedford Beverly B, LLC | Term Loan, Building | (2) (4) (5) (6) (14) (20) | Real Estate Management & Development | SOFR + 775 | 12.06% | 9/2/2026 | 23782 | 23716 | 23782 |
| Bedford Beverly B, LLC | Term Loan, Land | (2) (4) (5) (14) (20) | Real Estate Management & Development | SOFR + 775 | 12.06% | 9/2/2026 | 9719 | 9696 | 9719 |
| Bedford Beverly B, LLC | Term Loan, Project | (2) (4) (5) (6) (14) (20) | Real Estate Management & Development | SOFR + 775 | 12.06% | 9/2/2026 | 5164 | 5147 | 5164 |
| Berlin Packaging, LLC | Term Loan, Tranche B7 | (2) (3) (4) (14) | Containers, Packaging & Glass | SOFR + 325 | 7.25% | 3/11/2028 | 3935 | 3880 | 3945 |
| Bianalisi S.p.A. | Delayed Draw Term Loan | (4) (5) (6) | Health Care Providers & Services | EURIBOR + 600 | 7.98% | 2/26/2032 | 7762 | 8474 | 8723 |
| Bianalisi S.p.A. | Term Loan | (4) (5) | Health Care Providers & Services | EURIBOR + 600 | 7.98% | 2/26/2032 | 35485 | 36350 | 40828 |
| Big Bus Tours Bidco Ltd. | Term Loan, Tranche B | (2) (3) (4) (5) (8) | Hotels, Restaurants & Leisure | EURIBOR + 810, 0.25% PIK | 10.38% | 6/4/2031 | 16730 | 17748 | 19102 |
| Big Bus Tours Bidco Ltd. | Term Loan, Tranche B | (2) (3) (4) (5) (8) | Hotels, Restaurants & Leisure | SOFR + 810, 0.25% PIK | 12.66% | 6/4/2031 | 27054 | 26357 | 26310 |
| Big Bus Tours Bidco Ltd. | Delayed Draw Term Loan, Acquisition Facility | (2) (3) (4) (8) | Hotels, Restaurants & Leisure | EURIBOR + 810, 0.25% PIK | 10.38% | 6/4/2031 | 1144 | 1327 | 1307 |
| Big Bus Tours Bidco Ltd. | Delayed Draw Term Loan, Capex Facility | (2) (3) (4) (5) (6) (8) | Hotels, Restaurants & Leisure | SOFR + 810, 0.25% PIK | 12.66% | 6/4/2031 | 1413 | 1333 | 1324 |
| Bingo Group Buyer, Inc. | Delayed Draw Term Loan | (4) (5) (6) (14) | Commercial Services & Supplies | SOFR + 500 | 9.00% | 7/10/2031 | 2204 | 2176 | 2204 |
| Bingo Group Buyer, Inc. | Revolver | (4) (5) (6) (14) | Commercial Services & Supplies | SOFR + 500 | 9.00% | 7/10/2031 | 31 | 21 | 31 |
| Bingo Group Buyer, Inc. | Term Loan | (2) (3) (4) (5) (14) | Commercial Services & Supplies | SOFR + 475 | 8.75% | 7/10/2031 | 8520 | 8428 | 8520 |
| BlueCat Networks, Inc. | Delayed Draw Term Loan, Tranche A | (4) (5) (8) (14) | Software | SOFR + 600, 1.00% PIK | 11.06% | 8/8/2028 | 453 | 448 | 442 |
| BlueCat Networks, Inc. | Delayed Draw Term Loan, Tranche B | (4) (5) (8) (14) | Software | SOFR + 600, 1.00% PIK | 11.06% | 8/8/2028 | 167 | 165 | 163 |
| BlueCat Networks, Inc. | Term Loan, Tranche A | (2) (3) (4) (5) (8) (14) | Software | SOFR + 500, 1.00% PIK | 10.06% | 8/8/2028 | 3218 | 3184 | 3143 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| BlueCat Networks, Inc. | Term Loan | (2) (3) (4) (5) (8) (14) | Software | SOFR + 500, 1.00% PIK | 10.06% | 8/8/2028 | 9001 | 8895 | 8790 |
| Boxer Parent Company Inc. | Term Loan, Tranche B | (2) (3) (4) | Software | SOFR + 575 | 9.95% | 7/30/2031 | 4975 | 4964 | 4964 |
| BradyPLUS Holdings, LLC | Delayed Draw Term Loan | (4) (5) (6) (14) | Distributors | SOFR + 500 | 9.15% | 10/31/2029 | 255 | 244 | 255 |
| BradyPLUS Holdings, LLC | Term Loan, Tranche B | (2) (3) (4) (5) (14) | Distributors | SOFR + 500 | 9.31% | 10/31/2029 | 26305 | 25915 | 26305 |
| BroadStreet Partners, Inc. | Term Loan, Tranche B4 | (2) (3) (4) | Insurance | SOFR + 275 | 6.91% | 6/13/2031 | 4919 | 4883 | 4923 |
| Bullhorn, Inc. | Term Loan | (2) (3) (4) (5) (14) | Software | SOFR + 500 | 9.16% | 10/1/2029 | 5756 | 5744 | 5723 |
| Bullhorn, Inc. | Delayed Draw Term Loan, 8th Amendment | (4) (5) (6) | Software | SOFR + 500 | 9.16% | 10/1/2029 | 16700 | 16629 | 16597 |
| Bullhorn, Inc. | Term Loan | (2) (3) (4) (5) (14) | Software | SONIA + 500 | 8.97% | 10/1/2029 | £10422 | 13025 | 13938 |
| Bullhorn, Inc. | Revolver | (2) (4) (5) (6) | Software | SOFR + 500 | 9.16% | 10/1/2029 | 184 | 180 | 177 |
| CD&R Hydra Buyer, Inc. | Term Loan, Tranche B | (2) (3) (4) | Trading Companies & Distributors | SOFR + 400 | 8.16% | 3/25/2031 | 2952 | 2946 | 2932 |
| Celerion Buyer, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Health Care Providers & Services | SOFR + 500 | 9.25% | 11/5/2029 | 1533 | 1502 | 1542 |
| Celerion Buyer, Inc. | Term Loan, 2nd Amendment | (2) (3) (4) (5) (14) | Health Care Providers & Services | SOFR + 500 | 9.25% | 11/5/2029 | 849 | 841 | 853 |
| Central Parent, Inc. | Term Loan, Tranche B | (2) (4) (21) | Software | SOFR + 325 | 7.55% | 7/6/2029 | 7980 | 6406 | 6885 |
| Ceva Sante Animale S.A. | Term Loan, Tranche B | (2) (3) (4) | Health Care Providers & Services | SOFR + 275 | 6.98% | 11/1/2030 | 1970 | 1955 | 1971 |
| CFC Bidco 2022 Ltd. | Term Loan, Tranche B | (2) (3) (4) | Insurance | SOFR + 375 | 8.04% | 5/30/2032 | 5000 | 4951 | 4763 |
| Chamberlain Group, Inc. | Term Loan, Tranche B | (2) (4) (21) | Construction & Engineering | SOFR + 300 | 7.16% | 7/22/2032 | 12930 | 12914 | 12935 |
| City Football Group Ltd. | Term Loan | (2) (3) (4) (13) (14) | Hotels, Restaurants & Leisure | SOFR + 350 | 7.78% | 7/21/2030 | 6855 | 6838 | 6850 |
| Clarios Global LP | Term Loan, Tranche B | (2) (4) (21) | Automotives | SOFR + 275 | 6.91% | 1/28/2032 | 8500 | 8490 | 8497 |
| Cliffwater LLC | Term Loan, 2nd Amendment | (2) (3) (4) (5) (6) (14) | Financial Services | SOFR + 500 | 9.28% | 4/22/2032 | 27264 | 26980 | 27145 |
| Cloud Software Group, Inc. | Term Loan, Tranche B | (2) (3) (4) (14) | Software | SOFR + 325 | 7.25% | 3/21/2031 | 4975 | 4944 | 4992 |
| Cloud Software Group, Inc. | Term Loan, Tranche B | (2) (4) (14) (21) | Software | SOFR + 325 | 7.25% | 8/7/2032 | 9000 | 9000 | 9026 |
| Clydesdale Acquisition Holdings, Inc. | Term Loan, Tranche B | (2) (4) (21) | Containers, Packaging & Glass | SOFR + 325 | 7.38% | 3/27/2032 | 8823 | 8760 | 8807 |
| Clydesdale Acquisition Holdings, Inc. | Delayed Draw Term Loan | (2) (4) (6) (21) | Containers, Packaging & Glass | SOFR + 325 | 7.24% | 3/27/2032 | 5 | 4 | 4 |
| Cobham Ultra SeniorCo S.a.r.l. | Term Loan, Tranche B | (2) (3) (4) (13) (14) | Electronic Equipment, Instruments & Components | SOFR + 375 | 8.37% | 8/3/2029 | 2911 | 2911 | 2910 |
| Cordstrap Holding B.V. | Term Loan | (2) (3) (8) | Transportation | 11.00% PIK | 11.00% | 7/4/2027 | 1206 | 1420 | 1416 |
| ConnectWise, LLC | Term Loan, Tranche B | (2) (4) (14) (21) | Software | SOFR + 350 | 7.80% | 9/29/2028 | 11846 | 11823 | 11859 |
| CoreLogic, Inc. | Term Loan | (2) (4) (13) (14) (21) | Commercial Services & Supplies | SOFR + 350 | 7.78% | 6/2/2028 | 7049 | 7039 | 7042 |
| CoreWeave Compute Acquisition Co., II, LLC | Delayed Draw Term Loan | (4) (5) | Electronic Equipment, Instruments & Components | SOFR + 962 | 13.62% | 7/30/2028 | 2939 | 2907 | 2969 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 1 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.00% | 6/28/2029 | 2226 | 2201 | 2198 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 9 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.32% | 2/5/2030 | 4420 | 4358 | 4365 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 10 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.00% | 3/20/2030 | 647 | 638 | 639 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 11 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.32% | 4/23/2030 | 3849 | 3794 | 3801 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 12 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.32% | 4/25/2030 | 936 | 923 | 924 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 13 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.21% | 5/21/2030 | 517 | 510 | 511 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 14 | (4) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.22% | 8/26/2030 | 588 | 579 | 581 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 15 | (4) (14) | Electronic Equipment, Instruments & Components | SOFR + 650 | 10.22% | 8/26/2030 | 191 | 188 | 189 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 2 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.31% | 7/26/2029 | 3333 | 3294 | 3292 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 3 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.20% | 8/27/2029 | 6522 | 6446 | 6441 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 4 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.21% | 10/11/2029 | 8303 | 8206 | 8199 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 5 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.31% | 10/28/2029 | 4264 | 4214 | 4211 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 6 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.20% | 11/25/2029 | 4823 | 4767 | 4763 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 7 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.07% | 12/10/2029 | 2351 | 2324 | 2322 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan 8 | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 600 | 10.00% | 12/31/2029 | 4080 | 4030 | 4029 |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw Term Loan, 5th Amendment | (4) | Electronic Equipment, Instruments & Components | SOFR + 425 | 8.25% | 9/30/2030 | 20693 | 20383 | 20383 |
| Cornerstone Building Brands, Inc. | Term Loan, Tranche B | (2) (4) (21) | Building Products | SOFR + 450 | 8.65% | 5/15/2031 | 11060 | 10768 | 10037 |
| Cornerstone Building Brands, Inc. | Term Loan | (4) | Building Products | SOFR + 563 | 9.78% | 8/1/2028 | 9459 | 9415 | 9065 |
| Cotiviti Holdings, Inc. | Term Loan | (2) (4) (5) (21) | Health Care Technology | SOFR + 275 | 7.03% | 5/1/2031 | 4930 | 4918 | 4838 |
| Cotiviti Holdings, Inc. | Term Loan, 2nd Amendment | (2) (4) (21) | Health Care Technology | SOFR + 275 | 7.03% | 3/26/2032 | 4988 | 4940 | 4892 |
| Coupa Holdings, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Software | SOFR + 525 | 9.56% | 2/27/2030 | 6398 | 6268 | 6433 |
| CP Developer S.a.r.l. | Term Loan | (2) (3) (4) (5) (8) (14) | Real Estate Management & Development | EURIBOR + 800, 4.00% PIK | 14.03% | 5/21/2026 | 13496 | 14402 | 15687 |
| Creative Artists Agency, LLC | Term Loan, Tranche B | (2) (4) (21) | Media: Advertising, Printing & Publishing | SOFR + 250 | 6.83% | 10/1/2031 | 1990 | 1990 | 1992 |
| CST Holding Company | Term Loan | (2) (3) (4) (5) (6) (13) (14) | Consumer Goods: Non-Durable | SOFR + 500 | 9.26% | 11/1/2028 | 2424 | 2377 | 2425 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Daffodil Bidco Ltd. | Term Loan, Tranche B1 | (2) (3) (4) (5) (8) | Financial Services | SONIA + 378, 4.22% PIK | 11.97% | 4/30/2031 | £30353 | 37862 | 41333 |
| Daffodil Bidco Ltd. | Term Loan, Tranche B1 | (4) (5) (8) | Financial Services | SONIA + 12.50% PIK | 16.47% | 4/30/2031 | £30983 | 39035 | 43128 |
| Daffodil Bidco Ltd. | Term Loan, Tranche B2 | (2) (3) (4) (5) (8) | Financial Services | SONIA + 378, 4.22% PIK | 11.97% | 4/30/2031 | £3805 | 5033 | 5617 |
| Daffodil Bidco Ltd. | Term Loan, Tranche B2 | (4) (5) (8) | Financial Services | SONIA + 12.50% PIK | 16.47% | 4/30/2031 | £3301 | 4368 | 5171 |
| Dance Midco S.a.r.l. | Term Loan, Tranche B1 | (2) (3) (4) (5) | Hotels, Restaurants & Leisure | EURIBOR + 550 | 7.53% | 10/25/2031 | 38383 | 40882 | 44613 |
| Dance Midco S.a.r.l. | Delayed Draw Term Loan, Tranche B2 | (4) (5) (6) | Hotels, Restaurants & Leisure | EURIBOR + 500 | 7.03% | 10/25/2031 | 8509 | 8486 | 9745 |
| DCA Investment Holdings, LLC | Term Loan, Incremental | (2) (3) (4) (5) (14) | Health Care Providers & Services | SOFR + 641 | 10.41% | 4/3/2028 | 1431 | 1424 | 1352 |
| DCA Investment Holdings, LLC | Delayed Draw Term Loan | (2) (3) (4) (5) (14) | Health Care Providers & Services | SOFR + 641 | 10.41% | 4/3/2028 | 475 | 473 | 449 |
| DCA Investment Holdings, LLC | Term Loan | (2) (3) (4) (5) (14) | Health Care Providers & Services | SOFR + 641 | 10.41% | 4/3/2028 | 3160 | 3140 | 2985 |
| DCA Investment Holdings, LLC | Delayed Draw Term Loan, 3rd Amendment | (2) (4) (5) (14) | Health Care Providers & Services | SOFR + 650 | 10.50% | 4/3/2028 | 608 | 598 | 576 |
| Deerfield Dakota Holding, LLC | Term Loan | (2) (3) (4) (6) (8) (14) | Financial Services | SOFR + 300, 2.75% PIK | 9.81% | 9/13/2032 | 59254 | 58610 | 58606 |
| Delta TopCo, Inc. | Term Loan, Tranche B | (2) (3) (4) | Computers and Electronics Retail | SOFR + 275 | 7.02% | 11/30/2029 | 4950 | 4940 | 4889 |
| Deltatre Bidco Limited | Term Loan | (2) (3) (4) (5) | Entertainment | SOFR + 775 | 12.04% | 9/14/2028 | 5813 | 5719 | 5348 |
| Deltatre Bidco Limited | Term Loan, Tranche B Facility | (2) (3) (4) (5) | Entertainment | EURIBOR + 775 | 9.87% | 9/14/2028 | 20663 | 22289 | 22318 |
| Denali Intermediate Holdings, Inc. | Term Loan | (2) (3) (4) (6) (14) | Professional Services | SOFR + 550 | 9.67% | 8/26/2032 | 7186 | 7108 | 7107 |
| Denali Midco 2, LLC | Delayed Draw Term Loan, 2022-1 | (4) (5) (14) | Consumer Services | SOFR + 525 | 9.41% | 12/22/2028 | 562 | 554 | 559 |
| Denali Midco 2, LLC | Delayed Draw Term Loan, 2023-1 | (4) (5) (14) | Consumer Services | SOFR + 525 | 9.41% | 12/22/2028 | 6343 | 6262 | 6310 |
| Denali Midco 2, LLC | Delayed Draw Term Loan, Tranche 2A | (4) (5) (14) | Consumer Services | SOFR + 525 | 9.41% | 12/22/2028 | 1308 | 1290 | 1301 |
| Denali Midco 2, LLC | Delayed Draw Term Loan, Tranche 2B | (4) (5) (14) | Consumer Services | SOFR + 525 | 9.41% | 12/22/2028 | 281 | 277 | 279 |
| Denali Midco 2, LLC | Delayed Draw Term Loan, Tranche 3 | (4) (5) (14) | Consumer Services | SOFR + 525 | 9.41% | 12/22/2028 | 957 | 943 | 952 |
| Denali Midco 2, LLC | Delayed Draw Term Loan, Tranche 4 | (4) (5) (14) | Consumer Services | SOFR + 525 | 9.41% | 12/22/2028 | 1132 | 1116 | 1126 |
| Denali Midco 2, LLC | Term Loan, Incremental | (2) (3) (4) (5) (6) (14) | Consumer Services | SOFR + 525 | 9.41% | 12/22/2028 | 4201 | 4009 | 4120 |
| DG Investment Intermediate Holdings 2, Inc. | Term Loan | (2) (4) (14) (21) | Software | SOFR + 375 | 7.91% | 3/31/2028 | 5690 | 5664 | 5697 |
| Digital Intelligence Systems, LLC | Term Loan | (2) (3) (4) (5) (13) | Consumer Services | SOFR + 725 | 11.54% | 2/19/2030 | 25317 | 24859 | 24937 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Diligent Corporation | Term Loan, Tranche A1 | (2) (3) (4) (5) (6) (14) | Telecommunications | SOFR + 500 | 9.20% | 8/4/2030 | 32103 | 31855 | 32289 |
| Diligent Corporation | Revolver | (4) (5) (6) (14) | Telecommunications | SOFR + 500 | 9.20% | 8/4/2030 | 378 | 358 | 378 |
| Diligent Corporation | Term Loan, Tranche A1 | (2) (3) (4) (5) (14) | Telecommunications | SOFR + 500 | 9.20% | 8/4/2030 | 5503 | 5466 | 5531 |
| Disco Parent, Inc. | Term Loan, Tranche B | (2) (4) (21) | Software | SOFR + 325 | 7.48% | 8/1/2032 | 4500 | 4489 | 4511 |
| Dwyer Instruments, Inc. | Term Loan, 4th Amendment | (2) (3) (4) (5) (6) (14) | Electronic Equipment, Instruments & Components | SOFR + 475 | 8.75% | 7/1/2029 | 21722 | 21515 | 21722 |
| Dwyer Instruments, Inc. | Delayed Draw Term Loan | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 475 | 8.75% | 7/21/2029 | 971 | 964 | 971 |
| Dwyer Instruments, Inc. | Delayed Draw Term Loan, Upsize | (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 475 | 8.75% | 7/21/2029 | 1390 | 1379 | 1390 |
| Dwyer Instruments, Inc. | Revolver | (4) (5) (6) (14) | Electronic Equipment, Instruments & Components | SOFR + 475 | 8.75% | 7/20/2029 | 436 | 400 | 436 |
| Dwyer Instruments, Inc. | Term Loan | (2) (3) (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 475 | 8.75% | 7/21/2029 | 18942 | 18798 | 18942 |
| EAB Global, Inc. | Term Loan | (2) (3) (4) | Professional Services | SOFR + 300 | 7.32% | 8/16/2028 | 4892 | 4868 | 4759 |
| EFS Cogen Holdings I, LLC | Term Loan, Tranche B | (2) (3) (4) (14) | Utilities | SOFR + 300 | 7.00% | 10/1/2027 | 8357 | 8334 | 8405 |
| Einstein Parent, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Software | SOFR + 650 | 10.83% | 1/22/2031 | 45557 | 44641 | 44384 |
| Electronics for Imaging, Inc. | Term Loan | (2) (3) (4) (14) | High Tech Industries | SOFR + 510 | 9.41% | 7/23/2026 | 4616 | 4063 | 3056 |
| Element Materials Technology Group US Holdings, Inc. | Term Loan | (2) (4) (14) (21) | Professional Services | SOFR + 368 | 7.97% | 7/6/2029 | 6581 | 6569 | 6616 |
| Eliassen Group, LLC | Delayed Draw Term Loan | (4) (5) (14) | Professional Services | SOFR + 575 | 9.91% | 4/14/2028 | 1196 | 1188 | 1164 |
| Eliassen Group, LLC | Term Loan | (2) (3) (4) (5) (14) | Professional Services | SOFR + 575 | 9.75% | 4/14/2028 | 19811 | 19665 | 19273 |
| Ellkay, LLC | Term Loan, 5th Amendment | (2) (3) (4) (6) (8) (13) (14) | Health Care Providers & Services | SOFR + 425, 2.00% PIK | 10.63% | 9/14/2027 | 14159 | 14017 | 14222 |
| Embark Intermediate Holdings, LLC | Term loan, Tranche B | (2) (3) (4) (6) (14) | Professional Services | SOFR + 450 | 8.67% | 9/2/2032 | 5952 | 5834 | 5833 |
| Engineered Machinery Holdings, Inc. | Term Loan, Incremental | (2) (3) (4) (13) (14) | Capital Equipment | SOFR + 350 | 7.76% | 5/19/2028 | 1925 | 1921 | 1934 |
| Enkindle Ltd. | Delayed Draw Term Loan | (4) (5) (6) | Financial Services | SONIA + 350 | 7.47% | 4/16/2031 | £826 | 894 | 926 |
| Enkindle Ltd. | Term Loan, Acquisition | (4) (5) (6) | Financial Services | SONIA + 350 | 7.47% | 4/16/2031 | £680 | 805 | 822 |
| Enkindle Ltd. | Term Loan, Tranche B2 | (4) (11) | Financial Services | SONIA + 350 | 7.47% | 4/16/2031 | £10206 | 13450 | 13382 |
| Enverus Holdings, Inc. | Term Loan | (2) (3) (4) (5) (6) | Software | SOFR + 550 | 9.66% | 12/22/2029 | 19958 | 19728 | 19908 |
| Enverus Holdings, Inc. | Revolver | (4) (5) (6) | Software | SOFR + 550 | 9.65% | 12/22/2029 | 63 | 47 | 60 |
| EOC Borrower, LLC | Term Loan, Tranche B | (2) (4) (5) (21) | Media: Advertising, Printing & Publishing | SOFR + 300 | 7.16% | 3/24/2032 | 2743 | 2730 | 2742 |
| Epicor Software Corp. | Term Loan | (2) (4) (21) | Software | SOFR + 275 | 6.66% | 5/30/2031 | 11159 | 11126 | 11168 |
| Espresso Bidco Inc. | Term Loan | (2) (3) (4) (5) (6) (8) (14) | Software | SOFR + 263, 3.13% PIK | 9.75% | 3/25/2032 | 23571 | 23113 | 23401 |
| Essential Services Holding Corp. | Term Loan | (2) (3) (4) (5) (6) (14) | Commercial Services & Supplies | SOFR + 500 | 9.32% | 6/17/2031 | 30334 | 30025 | 30254 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Essential Services Holding Corp. | Revolver | (4) (5) (6) (14) | Commercial Services & Supplies | SOFR + 500 | 9.19% | 6/17/2031 | 744 | 714 | 735 |
| Excel Fitness Holdings, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Hotels, Restaurants & Leisure | SOFR + 525 | 9.25% | 4/27/2029 | 6094 | 6014 | 6094 |
| Excel Fitness Holdings, Inc. | Delayed Draw Term Loan, 4th Amendment | (4) (5) (6) (14) | Hotels, Restaurants & Leisure | SOFR + 550 | 9.50% | 4/27/2029 | 464 | 440 | 464 |
| Excel Fitness Holdings, Inc. | Delayed Draw Term Loan | (4) (5) | Hotels, Restaurants & Leisure | SOFR + 550 | 9.50% | 4/27/2029 | 1833 | 1802 | 1833 |
| Excel Fitness Holdings, Inc. | Term Loan | (2) (3) (4) (5) | Hotels, Restaurants & Leisure | SOFR + 550 | 9.50% | 4/27/2029 | 3648 | 3585 | 3648 |
| Excelitas Technologies Corp. | Term Loan | (2) (3) (4) (5) (6) (14) | Capital Equipment | SOFR + 525 | 9.41% | 8/13/2029 | 49599 | 49561 | 49599 |
| Excelitas Technologies Corp. | Term Loan | (2) (3) (4) (5) (14) | Capital Equipment | EURIBOR + 525 | 7.16% | 8/13/2029 | 3858 | 4183 | 4529 |
| FCG Acquisitions, Inc. | Term Loan, Tranche B | (2) (3) (4) (14) | Commercial Services & Supplies | SOFR + 325 | 7.41% | 3/31/2028 | 6797 | 6779 | 6808 |
| Fertitta Entertainment, LLC | Term Loan, Tranche B | (2) (3) (4) (14) | Hotels, Restaurants & Leisure | SOFR + 325 | 7.57% | 1/27/2029 | 7809 | 7766 | 7795 |
| Finastra USA, Inc. | Term Loan | (2) (4) (21) | Software | SOFR + 400 | 7.98% | 7/30/2032 | 25000 | 24795 | 24884 |
| Finastra USA, Inc. | Term Loan | (2) (3) (4) (5) (14) | Software | SOFR + 725 | 11.29% | 9/13/2029 | 10000 | 9853 | 10100 |
| First Advantage Holdings, LLC | Term Loan, Tranche B | (2) (4) (21) | Professional Services | SOFR + 325 | 7.41% | 10/31/2031 | 4406 | 4387 | 4289 |
| Floating Infrastructure Holdings Finance, LLC | Term Loan, Tranche A | (2) (3) (5) | Transportation | 9.00% | 9.00% | 8/13/2027 | 13033 | 12922 | 13033 |
| Flynn Restaurant Group LP | Term Loan, Incremental | (2) (4) (21) | Hotels, Restaurants & Leisure | SOFR + 375 | 7.91% | 1/28/2032 | 9812 | 9750 | 9821 |
| Focus Financial Partners, LLC | Term Loan, Tranche B Incremental | (2) (3) (4) | Capital Markets | SOFR + 275 | 6.91% | 9/15/2031 | 9925 | 9903 | 9926 |
| FPG Intermediate Holdco, LLC | Term Loan, 15th Amendment, Tranche A | (4) | Consumer Services | SOFR + 500 | 8.98% | 6/30/2029 | 16 | 16 | 16 |
| FPG Intermediate Holdco, LLC | Term Loan, 15th Amendment, Tranche B | (4) (11) (15) | Consumer Services | SOFR + 500 | 8.98% | 6/30/2029 | 6 | 6 | 6 |
| FPG Intermediate Holdco, LLC | Delayed Draw Term Loan, Tranche B | (4) (6) | Consumer Services | SOFR + 500 | 8.98% | 6/30/2029 | 4 | 4 | 4 |
| FPG Intermediate Holdco, LLC | Delayed Draw Term Loan | (4) (5) | Consumer Services | SOFR + 500 | 8.98% | 3/5/2027 | 3 | 3 | 3 |
| Fullsteam Operations LLC | Term Loan | (2) (3) (4) (6) (14) | Software | SOFR + 525 | 9.23% | 8/8/2031 | 8164 | 8048 | 8046 |
| Galileo Parent, Inc. | Revolver | (4) (5) (6) (14) | Telecommunications | SOFR + 575 | 9.75% | 5/3/2029 | 4743 | 4743 | 4743 |
| Galileo Parent, Inc. | Term Loan | (2) (3) (4) (5) (14) | Telecommunications | SOFR + 575 | 9.75% | 5/3/2030 | 45468 | 45468 | 45759 |
| Generator U.S. Buyer, Inc. | Term Loan | (2) (3) (4) (5) (14) | Machinery | SOFR + 525 | 9.25% | 7/22/2030 | 3795 | 3738 | 3767 |
| Genesys Cloud Services Holdings II, LLC | Term Loan, Tranche B | (2) (4) (21) | Software | SOFR + 250 | 6.66% | 1/30/2032 | 8965 | 8944 | 8900 |
| GFL Environmental Services Inc. | Term Loan, Tranche B | (2) (4) (21) | Utilities | SOFR + 250 | 6.67% | 2/4/2032 | 5000 | 5000 | 4993 |
| Global Medical Response, Inc. | Term Loan, Tranche B | (2) (4) (21) | Health Care Providers & Services | SOFR + 350 | 7.63% | 9/11/2032 | 10000 | 9975 | 10001 |
| Greenhouse Software, Inc. | Term Loan, 2nd Amendment | (2) (3) (4) (5) (6) (14) | Software | SOFR + 625 | 10.54% | 9/1/2028 | 1600 | 1573 | 1600 |
| Greenhouse Software, Inc. | Term Loan | (2) (3) (4) (5) (14) | Software | SOFR + 625 | 10.54% | 9/1/2028 | 7598 | 7549 | 7598 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Gryphon Debt Merger Sub, Inc. | Term Loan, Tranche B | (2) (4) (21) | Electronic Equipment, Instruments & Components | SOFR + 300 | 7.30% | 6/18/2032 | 5000 | 4975 | 5011 |
| GS AcquisitionCo, Inc. | Delayed Draw Term Loan, 7th Supplemental | (4) (5) (6) (14) | Software | SOFR + 525 | 9.25% | 5/25/2028 | 174 | 173 | 174 |
| GS AcquisitionCo, Inc. | Revolver | (4) (5) (6) (14) | Software | SOFR + 525 | 9.25% | 5/25/2028 | 218 | 216 | 218 |
| GS AcquisitionCo, Inc. | Term Loan | (2) (3) (4) (5) (14) | Software | SOFR + 525 | 9.25% | 5/25/2028 | 13659 | 13630 | 13659 |
| Guidehouse LLP | Term Loan | (2) (3) (4) (5) (8) (14) | Sovereign & Public Finance | SOFR + 300, 2.00% PIK | 9.32% | 12/14/2030 | 40378 | 40377 | 40378 |
| Gymspa SAS | Term Loan, Acquisition | (4) (5) (8) | Hotels, Restaurants & Leisure | EURIBOR + 600, 2.00% PIK | 10.03% | 5/14/2031 | 3691 | 4005 | 4247 |
| Gymspa SAS | Delayed Draw Term Loan | (4) (5) (6) (8) | Hotels, Restaurants & Leisure | EURIBOR + 600, 2.00% PIK | 10.03% | 5/14/2031 | 923 | 951 | 1029 |
| Gymspa SAS | Term Loan | (4) (5) (8) | Hotels, Restaurants & Leisure | EURIBOR + 600, 2.00% PIK | 10.03% | 5/14/2031 | 19839 | 21525 | 22827 |
| Hadrian Acquisition Limited | Delayed Draw Term Loan | (2) (3) (4) (5) (6) (8) (11) (14) | Financial Services | SONIA + 516, 3.18% PIK | 12.31% | 2/28/2029 | £4263 | 5123 | 5815 |
| Hadrian Acquisition Limited | Term Loan, Acquisition | (2) (3) (4) (5) (8) (11) (14) | Financial Services | SONIA + 516, 3.18% PIK | 12.31% | 2/28/2029 | £7626 | 10033 | 10308 |
| Hadrian Acquisition Limited | Term Loan, Tranche B2 | (2) (3) (4) (5) (8) (11) (14) | Financial Services | SONIA + 516, 3.18% PIK | 12.31% | 2/28/2029 | £20570 | 26992 | 27803 |
| Heartland Home Services, Inc. | Term Loan | (2) (3) (4) (5) (13) (14) | Consumer Services | SOFR + 600 | 10.10% | 12/15/2026 | 6734 | 6707 | 6540 |
| Heartland Home Services, Inc. | Delayed Draw Term Loan, 2nd Amendment | (4) (5) (13) (14) | Consumer Services | SOFR + 575 | 9.85% | 12/15/2026 | 4728 | 4715 | 4579 |
| Heartland Home Services, Inc. | Delayed Draw Term Loan, 1st Amendment | (4) (5) (13) (14) | Consumer Services | SOFR + 600 | 10.10% | 12/15/2026 | 8432 | 8393 | 8189 |
| Heartland Home Services, Inc. | Delayed Draw Term Loan | (2) (3) (4) (5) (13) (14) | Consumer Services | SOFR + 600 | 10.10% | 12/15/2026 | 2237 | 2226 | 2172 |
| Heartland Home Services, Inc. | Revolver | (4) (5) (6) (14) | Consumer Services | SOFR + 600 | 10.16% | 12/15/2026 | 292 | 289 | 272 |
| Helios Software Holdings, Inc. | Term Loan, Tranche B | (2) (3) (4) | Financial Services | SOFR + 300 | 7.00% | 7/18/2030 | 5092 | 5000 | 5093 |
| HelpSystems Holdings Inc. | Term Loan | (2) (4) (13) (14) (21) | Software | SOFR + 400 | 8.41% | 11/29/2026 | 7937 | 7410 | 7474 |
| Hercules Borrower, LLC | Term Loan, 8th Amendment | (2) (3) (4) (6) (14) | Environmental Industries | SOFR + 475 | 8.75% | 6/30/2031 | 8287 | 8228 | 8289 |
| Hoosier Intermediate, LLC | Term Loan | (2) (3) (4) (5) (6) (13) (14) | Health Care Providers & Services | SOFR + 500 | 9.36% | 11/15/2028 | 11927 | 11789 | 11927 |
| HS Spa Holdings Inc. | Delayed Draw Term Loan, 2nd Amendment | (4) (5) (14) | Consumer Services | SOFR + 525 | 9.56% | 6/1/2029 | 636 | 632 | 636 |
| HS Spa Holdings Inc. | Revolver | (4) (5) (6) (14) | Consumer Services | SOFR + 525 | 9.41% | 6/2/2028 | 258 | 247 | 251 |
| HS Spa Holdings Inc. | Term Loan | (2) (3) (4) (5) (14) | Consumer Services | SOFR + 525 | 9.45% | 6/1/2029 | 8367 | 8265 | 8318 |
| Hunter Douglas, Inc. | Term Loan, Tranche B | (2) (4) (21) | Consumer Goods: Durable | SOFR + 325 | 7.25% | 1/17/2032 | 6253 | 6224 | 6253 |
| Hunter Holdco 3 Ltd. | Term Loan, Tranche B | (2) (3) (4) (5) (13) (14) | Health Care Providers & Services | SOFR + 425 | 8.65% | 8/19/2028 | 1565 | 1560 | 1554 |
| Hyperion Refinance S.a.r.l. | Term Loan, Tranche B | (2) (4) (21) | Insurance | SOFR + 350 | 7.66% | 4/18/2030 | 4914 | 4898 | 4910 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Hyperion Refinance S.a.r.l. | Term Loan, Tranche B | (2) (4) (14) (21) | Insurance | SOFR + 275 | 6.91% | 8/26/2030 | 14813 | 14772 | 14810 |
| Hyphen Solutions, LLC | Term Loan, 3rd Amendment | (2) (3) (4) (6) (14) | Software | SOFR + 450 | 8.66% | 8/6/2032 | 4521 | 4492 | 4492 |
| IceFall Parent, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Software | SOFR + 450 | 8.81% | 1/26/2030 | 12610 | 12395 | 12673 |
| iCIMS, Inc. | Revolver | (4) (5) (6) (14) | Software | SOFR + 575 | 10.08% | 8/18/2028 | 683 | 662 | 637 |
| iCIMS, Inc. | Term Loan | (2) (3) (4) (5) (14) | Software | SOFR + 575 | 10.07% | 8/18/2028 | 27544 | 27325 | 27028 |
| IG Investments Holdings, LLC | Term Loan, Refinancing | (2) (3) (4) (5) (6) | IT Services | SOFR + 500 | 9.31% | 9/22/2028 | 4086 | 4086 | 4074 |
| IGT Holding IV AB | Term Loan | (2) (4) (5) (21) | Hotels, Restaurants & Leisure | SOFR + 350 | 7.50% | 8/19/2031 | 3865 | 3856 | 3884 |
| IGT Holding IV AB | Term Loan | (2) (4) (21) | Hotels, Restaurants & Leisure | SOFR + 300 | 6.95% | 9/1/2031 | 1500 | 1500 | 1500 |
| Infront Luxembourg Finance S.a.r.l. | Term Loan, Tranche B | (2) (3) (4) (5) (8) | Hotels, Restaurants & Leisure | EURIBOR + 450, 5.50% PIK | 12.03% | 5/9/2027 | 21680 | 25997 | 25453 |
| Instructure Holdings, Inc. | Term Loan | (2) (4) (21) | Software | SOFR + 275 | 6.75% | 9/12/2031 | 9776 | 9752 | 9759 |
| ION Platform Finance US Inc. | Term Loan | (2) (4) (21) | Financial Services | SOFR + 375 | 7.69% | 10/7/2032 | 28650 | 28364 | 28364 |
| ION Trading Technologies S.a.r.l. | Term Loan, Tranche B | (2) (3) (4) (14) | Capital Markets | SOFR + 350 | 7.50% | 4/1/2028 | 8561 | 8527 | 8555 |
| IQN Holding Corp. | Revolver | (4) (5) (6) (8) (14) | Professional Services | SOFR + 212, 3.13% PIK | 9.25% | 5/2/2028 | 236 | 235 | 233 |
| IQN Holding Corp. | Term Loan | (2) (3) (4) (5) (8) (14) | Professional Services | SOFR + 212, 3.13% PIK | 9.25% | 5/2/2029 | 6856 | 6816 | 6803 |
| iRobot Corporation | Term Loan | (2) (3) (4) (5) (8) (13) (14) (15) | Consumer Goods: Durable | SOFR + 650, 2.50% PIK | 13.44% | 7/24/2026 | 26877 | 26229 | 12605 |
| iSolved, Inc. | Term Loan | (2) (3) (4) | Professional Services | SOFR + 275 | 6.91% | 10/15/2030 | 4433 | 4416 | 4442 |
| Janney Montgomery Scott, LLC | Term Loan | (2) (3) (4) (6) | Financial Services | SOFR + 300 | 7.00% | 11/28/2031 | 5544 | 5518 | 5560 |
| Javelin Buyer, Inc. | Term Loan | (2) (3) (4) | Financial Services | SOFR + 275 | 7.06% | 11/1/2031 | 9950 | 9927 | 9936 |
| Jeg's Automotive, LLC | Term Loan | (2) (3) (4) (5) (8) (14) (15) | Automotives | SOFR + 7.00% PIK | 11.00% | 12/22/2027 | 6633 | 6271 | 6633 |
| Jeg's Automotive, LLC | Revolver | (4) (5) (8) (14) (15) | Automotives | SOFR + 7.00% PIK | 11.00% | 12/22/2027 | 1102 | 1042 | 1102 |
| Jordanes Equity AS | Term Loan, Tranche A | (5) (8) | Beverage, Food & Tobacco | 11.75% PIK | 11.75% | 12/27/2031 | 291278 | 24073 | 27655 |
| Jordanes Equity AS | Delayed Draw Term Loan, Tranche B | (5) (8) | Beverage, Food & Tobacco | 11.75% PIK | 11.75% | 12/27/2031 | 166445 | 13756 | 15803 |
| Kestra Advisor Services Holdings A, Inc. | Term Loan | (2) (4) (21) | Financial Services | SOFR + 300 | 7.29% | 3/21/2031 | 2476 | 2471 | 2476 |
| KRE HYOD Owner, LLC | Term Loan, Tranche A1 | (4) (5) (13) (14) | Real Estate Management & Development | SOFR + 425 | 8.65% | 9/13/2026 | 1321 | 1321 | 1308 |
| KRE HYOD Owner, LLC | Term Loan, Tranche A2 | (4) (5) (11) (13) (14) | Real Estate Management & Development | SOFR + 1050 | 14.90% | 9/13/2026 | 3720 | 3720 | 3701 |
| LDS Intermediate Holdings, LLC | Delayed Draw Term Loan | (4) (5) | Transportation | SOFR + 500 | 9.16% | 2/9/2032 | 5526 | 5463 | 5510 |
| LDS Intermediate Holdings, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Transportation | SOFR + 500 | 9.16% | 2/7/2032 | 27908 | 27536 | 27813 |
| LDS Intermediate Holdings, LLC | Term Loan, Incremental | (4) (6) (14) | Transportation | SOFR + 500 | 9.16% | 2/9/2032 | 893 | 795 | 794 |
| Legence Holdings, LLC | Term Loan, Tranche B | (2) (3) (4) (14) | Commercial Services & Supplies | SOFR + 300 | 7.16% | 12/18/2028 | 1701 | 1698 | 1703 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Leia Finco US LLC | Term Loan | (2) (4) (21) | Software | SOFR + 325 | 7.57% | 10/9/2031 | 9950 | 9906 | 9942 |
| Lofty Brickell LLC | Delayed Draw Term Loan | (4) (6) (14) | Real Estate Management & Development | SOFR + 475 | 8.91% | 9/25/2028 | 19595 | 18658 | 18658 |
| LSF12 Crown US Commercial Bidco, LLC | Term Loan, Tranche B | (2) (4) (21) | Commercial Services & Supplies | SOFR + 425 | 8.57% | 12/2/2031 | 4988 | 4942 | 4991 |
| Madison IAQ LLC | Term Loan | (2) (4) (5) (14) (21) | Machinery | SOFR + 325 | 7.45% | 3/26/2032 | 3117 | 3087 | 3130 |
| Madison Safety & Flow, LLC | Term Loan, Tranche B | (2) (4) (21) | Machinery | SOFR + 275 | 6.91% | 9/19/2031 | 3513 | 3506 | 3516 |
| Magenta Security Holdings, LLC | Term Loan, Super Priority | (2) (3) (4) (14) | Software | SOFR + 625 | 10.56% | 7/27/2028 | 2412 | 2337 | 2442 |
| Material Holdings, LLC | Term Loan, Tranche A | (2) (3) (4) (5) (6) (8) (13) (14) | Professional Services | SOFR + 292, 3.08% PIK | 10.10% | 8/19/2027 | 10933 | 10933 | 8603 |
| Material Holdings, LLC | Term Loan, Tranche B | (4) (5) (6) (8) (13) (14) (15) | Professional Services | SOFR + 6.00% PIK | 10.10% | 8/19/2027 | 2741 | 1031 |  |
| Mavis Tire Express Services Corp. | Term Loan | (2) (4) (14) (21) | Specialty Retail | SOFR + 300 | 7.20% | 5/4/2028 | 8337 | 8273 | 8332 |
| McAfee, LLC | Term Loan, Tranche B | (2) (3) (4) (14) | Software | SOFR + 300 | 7.22% | 3/1/2029 | 6853 | 6722 | 6534 |
| Medical Manufacturing Technologies, LLC | Delayed Draw Term Loan, 2nd Amendment | (4) (5) | Health Care Providers & Services | SOFR + 575 | 9.75% | 12/23/2027 | 1413 | 1400 | 1413 |
| Medical Manufacturing Technologies, LLC | Term Loan, 2nd Amendment | (2) (3) (4) (5) | Health Care Providers & Services | SOFR + 575 | 9.75% | 12/23/2027 | 9135 | 9052 | 9133 |
| Medical Manufacturing Technologies, LLC | Delayed Draw Term Loan | (4) (5) (14) | Health Care Providers & Services | SOFR + 575 | 9.75% | 12/23/2027 | 5009 | 4966 | 5008 |
| Medical Manufacturing Technologies, LLC | Term Loan | (2) (3) (4) (5) (6) | Health Care Providers & Services | SOFR + 575 | 9.92% | 12/23/2027 | 12428 | 12295 | 12426 |
| Medical Manufacturing Technologies, LLC | Term Loan, 1st Amendment | (4) (5) | Health Care Providers & Services | SOFR + 575 | 9.75% | 12/23/2027 | 9180 | 9064 | 9178 |
| Merative LP | Term Loan | (2) (3) (4) (6) (14) | Health Care Technology | SOFR + 475 | 8.75% | 9/30/2032 | 49412 | 49112 | 49112 |
| Minerva Bidco Ltd. | Delayed Draw Term Loan | (2) (3) (4) (5) | Utilities | SONIA + 500 | 8.97% | 11/7/2030 | £4185 | 5130 | 5502 |
| Minerva Bidco Ltd. | Term Loan | (2) (3) (4) (5) | Utilities | SONIA + 500 | 8.97% | 11/7/2030 | £21761 | 26659 | 28608 |
| Mitchell International, Inc. | Term Loan | (2) (3) (4) | Health Care Providers & Services | SOFR + 325 | 7.41% | 6/17/2031 | 6826 | 6789 | 6816 |
| Monarch Buyer, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Business Services | SOFR + 475 | 9.03% | 6/2/2032 | 17313 | 17046 | 17032 |
| More Cowbell II, LLC | Term Loan, 2nd Amendment | (2) (3) (4) (6) (14) | Financial Services | SOFR + 400 | 8.02% | 9/1/2030 | 16018 | 16018 | 16018 |
| More Cowbell II, LLC | Revolver | (4) (6) (14) | Financial Services | SOFR + 450 | 8.48% | 9/1/2029 | 111 | 111 | 111 |
| MorettiHolding S.p.A. | Term Loan | (5) (8) | Professional Services | 13.00% PIK | 13.00% | 3/18/2032 | 21964 | 23306 | 25142 |
| Nader Upside 2 S.a.r.l. | Term Loan, Tranche B | (4) (5) (6) (8) (14) | Health Care Providers & Services | EURIBOR + 9.75% PIK | 11.76% | 3/28/2028 | 57240 | 60853 | 66689 |
| NEFCO Holding Company, LLC | Delayed Draw Term Loan, Tranche E | (4) (5) (14) | Building Products | SOFR + 575 | 9.99% | 8/5/2028 | 3398 | 3351 | 3398 |
| NEFCO Holding Company, LLC | Delayed Draw Term Loan, Tranche A | (2) (3) (4) (5) (14) | Building Products | SOFR + 575 | 9.82% | 8/5/2028 | 839 | 832 | 839 |
| NEFCO Holding Company, LLC | Delayed Draw Term Loan, Tranche B | (2) (3) (4) (5) (14) | Building Products | SOFR + 575 | 9.95% | 8/5/2028 | 633 | 628 | 633 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| NEFCO Holding Company, LLC | Delayed Draw Term Loan, Tranche C | (2) (3) (4) (5) (14) | Building Products | SOFR + 575 | 9.82% | 8/5/2028 | 1122 | 1112 | 1122 |
| NEFCO Holding Company, LLC | Revolver | (4) (5) (6) (14) | Building Products | SOFR + 725 | 11.32% | 8/5/2028 | 1123 | 1093 | 1123 |
| NEFCO Holding Company, LLC | Term Loan | (2) (3) (4) (5) (14) | Building Products | SOFR + 575 | 9.81% | 8/5/2028 | 6199 | 6142 | 6199 |
| NEFCO Holding Company, LLC | Term Loan, Incremental | (2) (3) (4) (5) (14) | Building Products | SOFR + 575 | 9.81% | 8/5/2028 | 1278 | 1266 | 1278 |
| NEFCO Holding Company, LLC | Term Loan, 4th Amendment | (2) (3) (4) (5) (14) | Building Products | SOFR + 575 | 9.95% | 8/5/2028 | 3048 | 3018 | 3048 |
| NEFCO Holding Company, LLC | Delayed Draw Term Loan, Tranche G | (4) (5) (14) | Building Products | SOFR + 575 | 9.58% | 8/5/2028 | 3773 | 3743 | 3773 |
| NEFCO Holding Company, LLC | Delayed Draw Term Loan, Tranche F | (4) (5) (6) (14) | Building Products | SOFR + 575 | 9.58% | 8/5/2028 | 2234 | 2204 | 2234 |
| NEFCO Holding Company, LLC | Term Loan, 1st Amendment | (2) (3) (4) (5) | Building Products | SOFR + 575 | 9.77% | 8/5/2028 | 549 | 541 | 549 |
| NEFCO Holding Company, LLC | Delayed Draw Term Loan, Tranche D | (4) (5) (14) | Building Products | SOFR + 575 | 9.85% | 8/5/2028 | 2973 | 2934 | 2973 |
| North Haven Fairway Buyer, LLC | Revolver | (4) (5) (6) (14) | Consumer Services | SOFR + 500 | 8.99% | 5/17/2028 | 2015 | 1991 | 1995 |
| North Haven Fairway Buyer, LLC | Term Loan | (2) (3) (4) (5) (14) | Consumer Services | SOFR + 500 | 9.00% | 5/17/2028 | 9945 | 9844 | 9866 |
| North Haven Fairway Buyer, LLC | Delayed Draw Term Loan, Tranche C1 | (4) (5) (14) | Consumer Services | SOFR + 500 | 9.00% | 5/17/2028 | 95 | 93 | 94 |
| North Haven Fairway Buyer, LLC | Delayed Draw Term Loan, Tranche C2 | (4) (5) (14) | Consumer Services | SOFR + 500 | 9.00% | 5/17/2028 | 10988 | 10772 | 10902 |
| North Haven Fairway Buyer, LLC | Delayed Draw Term Loan | (2) (3) (4) (5) (6) (14) | Consumer Services | SOFR + 500 | 8.99% | 5/17/2028 | 7314 | 7150 | 7221 |
| North Haven Fairway Buyer, LLC | Term Loan | (2) (3) (4) (5) (14) | Consumer Services | SOFR + 500 | 9.32% | 5/17/2028 | 8082 | 8026 | 8018 |
| Nuvei Technologies Corp. | Term Loan, Tranche B | (2) (4) (21) | Financial Services | SOFR + 300 | 7.33% | 7/18/2031 | 7395 | 7402 | 7391 |
| Nuzoa Bidco, S.L.U. | Term Loan | (4) (5) (6) (8) | Distributors | EURIBOR + 350, 2.50% PIK | 8.04% | 6/24/2032 | 1647 | 1810 | 1828 |
| Nuzoa Bidco, S.L.U. | Term Loan, Tranche B | (4) (5) (8) | Distributors | EURIBOR + 350, 2.50% PIK | 8.04% | 6/24/2032 | 6341 | 7220 | 7295 |
| Oak Purchaser, Inc. | Term Loan, 3rd Amendment | (2) (3) (4) (6) (14) | Capital Markets | SOFR + 550 | 9.37% | 5/31/2028 | 358 | 329 | 326 |
| Oak Purchaser, Inc. | Delayed Draw Term Loan | (4) (5) (14) | Professional Services | SOFR + 550 | 9.37% | 4/28/2028 | 203 | 200 | 201 |
| Oak Purchaser, Inc. | Term Loan | (2) (3) (4) (5) (14) | Professional Services | SOFR + 550 | 9.37% | 4/28/2028 | 836 | 825 | 827 |
| Oak Purchaser, Inc. | Delayed Draw Term Loan | (4) (5) (14) | Professional Services | SOFR + 550 | 9.37% | 4/28/2028 | 2445 | 2433 | 2438 |
| Oak Purchaser, Inc. | Revolver | (4) (5) (6) (14) | Professional Services | SOFR + 725 | 11.43% | 4/28/2028 | 59 | 53 | 56 |
| Oak Purchaser, Inc. | Term Loan | (2) (3) (4) (5) (14) | Professional Services | SOFR + 550 | 9.37% | 4/28/2028 | 5030 | 5005 | 5015 |
| OID-OL Intermediate I, LLC | Term Loan | (4) | Software | SOFR + 600 | 10.31% | 2/1/2029 | 13897 | 13698 | 14323 |
| OID-OL Intermediate I, LLC | Term Loan | (2) (3) (4) (13) | Software | SOFR + 425 | 8.71% | 2/1/2029 | 5260 | 4408 | 4394 |
| OneDigital Borrower LLC | Term Loan | (2) (4) (14) (21) | Insurance | SOFR + 300 | 7.16% | 7/2/2031 | 4938 | 4921 | 4931 |
| Ontario Gaming GTA LP | Term Loan, Tranche B | (2) (3) (4) | Hotels, Restaurants & Leisure | SOFR + 425 | 8.24% | 8/1/2030 | 1945 | 1937 | 1895 |
| Opal US LLC | Term Loan | (2) (4) (21) | Financial Services | SOFR + 325 | 7.58% | 4/28/2032 | 20000 | 19903 | 20040 |
| Optimizely North America, Inc. | Term Loan | (2) (3) (4) (5) (14) | Software | EURIBOR + 525 | 7.15% | 10/31/2031 | 2261 | 2434 | 2654 |
| Optimizely North America, Inc. | Term Loan | (2) (3) (4) (5) (14) | Software | SONIA + 550 | 9.47% | 10/31/2031 | £905 | 1162 | 1217 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Optimizely North America, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Software | SOFR + 500 | 9.16% | 10/31/2031 | 6694 | 6618 | 6689 |
| Optiv Security, Inc. | Term Loan | (2) (4) (14) (21) | IT Services | SOFR + 525 | 9.56% | 7/31/2026 | 10415 | 8926 | 8124 |
| Orifarm Holding AS | Term Loan | (5) (8) | Health Care Providers & Services | 12.00% PIK | 12.00% | 11/29/2031 | 45476 | 42591 | 47652 |
| Orthrus Ltd. | Term Loan | (2) (3) (4) (5) (6) (8) | Financial Services | SONIA + 350, 2.75% PIK | 10.22% | 12/5/2031 | £8251 | 10473 | 10963 |
| Orthrus Ltd. | Delayed Draw Term Loan | (4) (8) | Financial Services | SONIA + 350, 2.75% PIK | 10.22% | 12/4/2031 | £2811 | 2811 | 2783 |
| Orthrus Ltd. | Term Loan | (2) (3) (4) (5) (8) | Financial Services | EURIBOR + 350, 2.75% PIK | 8.33% | 12/5/2031 | 7370 | 7709 | 8567 |
| Orthrus Ltd. | Term Loan | (2) (3) (4) (5) (8) | Financial Services | SOFR + 350, 2.75% PIK | 10.40% | 12/5/2031 | 19473 | 19212 | 19278 |
| PAM Bidco Ltd. | Delayed Draw Term Loan, Tranche B3 | (5) | Utilities | 10.75% | 10.75% | 10/29/2031 | 481 | 614 | 640 |
| PAM Bidco Ltd. | Delayed Draw Term Loan, Tranche B4 | (4) (5) | Utilities | SONIA + 730 | 11.27% | 10/29/2031 | £1646 | 2102 | 2186 |
| PAM Bidco Ltd. | Delayed Draw Term Loan, Capex Facility A | (5) (6) | Utilities | 10.75% | 10.75% | 10/29/2031 | 457 | 532 | 575 |
| PAM Bidco Ltd. | Delayed Draw Term Loan, Capex Facility B | (4) (5) (6) | Utilities | SONIA + 730 | 11.27% | 10/29/2031 | £1564 | 1823 | 1937 |
| PAM Bidco Ltd. | Term Loan, Tranche B1 | (2) (3) (5) | Utilities | 10.75% | 10.75% | 10/29/2031 | 6490 | 8287 | 8641 |
| PAM Bidco Ltd. | Term Loan, Tranche B2 | (2) (3) (4) (5) | Utilities | SONIA + 730 | 11.27% | 10/29/2031 | £22220 | 28373 | 29510 |
| Park County Holdings, LLC | Term Loan | (2) (3) (4) (5) (11) (14) | Entertainment | SOFR + 727 | 11.43% | 11/29/2029 | 57161 | 56271 | 57161 |
| PDI TA Holdings, Inc. | Term Loan | (2) (3) (4) (5) (14) | Software | SOFR + 550 | 9.81% | 2/1/2031 | 27857 | 27631 | 27545 |
| PDI TA Holdings, Inc. | Revolver | (4) (5) (6) (14) | Software | SOFR + 550 | 9.81% | 2/1/2031 | 927 | 909 | 901 |
| Pearls Netherlands Bidco B.V. | Term Loan, Tranche B | (2) (3) (4) (14) | Transportation | SOFR + 325 | 7.56% | 2/26/2029 | 2896 | 2892 | 2718 |
| PEX Holdings LLC | Term Loan, Tranche B | (2) (4) (5) (21) | Financial Services | SOFR + 275 | 7.08% | 11/19/2031 | 4975 | 4964 | 4973 |
| PF Atlantic Holdco 2, LLC | Delayed Draw Term Loan | (4) (5) (6) (13) | Hotels, Restaurants & Leisure | SOFR + 550 | 9.68% | 11/12/2027 | 2807 | 2713 | 2807 |
| PF Atlantic Holdco 2, LLC | Term Loan | (2) (3) (4) (5) (14) | Hotels, Restaurants & Leisure | SOFR + 600 | 10.21% | 11/12/2027 | 834 | 824 | 834 |
| PF Atlantic Holdco 2, LLC | Delayed Draw Term Loan | (2) (3) (4) (5) (13) (14) | Hotels, Restaurants & Leisure | SOFR + 550 | 9.68% | 11/12/2027 | 12552 | 12451 | 12552 |
| PF Atlantic Holdco 2, LLC | Term Loan | (2) (3) (4) (5) (6) (13) (14) | Hotels, Restaurants & Leisure | SOFR + 550 | 9.96% | 11/12/2027 | 9957 | 9861 | 9957 |
| Pinnacle Buyer, LLC | Delayed Draw Term Loan | (2) (4) (21) | Real Estate Management & Development | SOFR + 250 | 6.49% | 9/10/2032 | 484 | 483 | 484 |
| Pinnacle Buyer, LLC | Term Loan | (2) (4) (21) | Real Estate Management & Development | SOFR + 250 | 6.49% | 9/12/2032 | 2516 | 2510 | 2519 |
| Planet U.S. Buyer, LLC | Term Loan, Tranche B | (2) (3) (4) | Professional Services | SOFR + 300 | 7.20% | 1/31/2031 | 3654 | 3646 | 3670 |
| Plano HoldCo, Inc. | Term Loan | (2) (4) (5) (21) | IT Services | SOFR + 350 | 7.50% | 10/2/2031 | 1990 | 1981 | 1940 |
| Planview Parent, Inc. | Term Loan | (2) (4) (21) | Software | SOFR + 350 | 7.80% | 12/17/2027 | 6885 | 6752 | 6770 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| PointClickCare Technologies, Inc. | Term Loan, Tranche B | (2) (3) (4) | Health Care Technology | SOFR + 275 | 6.75% | 11/3/2031 | 7861 | 7843 | 7865 |
| Polaris Newco, LLC | Term Loan, Tranche B | (4) | Software | EURIBOR + 375 | 5.78% | 6/2/2028 | 9897 | 10115 | 10803 |
| Portugal Street East Limited | Term Loan | (5) (6) | Real Estate Management & Development | 11.50% | 11.50% | 12/20/2026 | 18449 | 23704 | 24812 |
| PPV Intermediate Holdings, LLC | Delayed Draw Term Loan | (4) (5) (6) (14) | Health Care Providers & Services | SOFR + 525 | 9.45% | 8/31/2029 | 5117 | 5015 | 5117 |
| Press Ganey Holdings, Inc. | Term Loan, Tranche B | (2) (4) (21) | Health Care Technology | SOFR + 300 | 7.32% | 4/30/2031 | 2970 | 2945 | 2961 |
| Primetech Holdco S.a.r.l. | Term Loan | (2) (3) (5) (8) | Insurance | 12.00% PIK | 12.00% | 7/28/2029 | 32444 | 33194 | 39424 |
| Proampac PG Borrower LLC | Term Loan | (2) (3) (4) (14) | Containers, Packaging & Glass | SOFR + 400 | 8.19% | 9/15/2028 | 5759 | 5756 | 5772 |
| Project Alpha Intermediate Holding, Inc. | Term Loan, Tranche B | (4) | Software | SOFR + 325 | 7.55% | 10/28/2030 | 2985 | 2978 | 2992 |
| Project Castle, Inc. | Term Loan | (2) (3) (4) (14) | Professional Services | SOFR + 550 | 9.36% | 6/1/2029 | 4850 | 4531 | 4012 |
| Project Leopard Holdings, Inc. | Term Loan, Tranche B | (2) (4) (13) (14) (21) | Software | SOFR + 525 | 9.66% | 7/20/2029 | 9923 | 9043 | 8892 |
| Proofpoint, Inc. | Term Loan | (2) (4) (14) (21) | Software | SOFR + 300 | 7.16% | 8/31/2028 | 13232 | 13162 | 13266 |
| Prophix Software Inc. | Revolver | (4) (5) (6) (14) | Software | SOFR + 600 | 10.14% | 2/1/2026 | 161 | 160 | 158 |
| Prophix Software Inc. | Delayed Draw Term Loan | (4) (5) (6) (13) (14) | Software | SOFR + 600 | 10.66% | 2/1/2027 | 2010 | 2010 | 2000 |
| Prophix Software Inc. | Term Loan, Restatement | (2) (3) (4) (5) (13) (14) | Software | SOFR + 600 | 10.66% | 2/1/2027 | 39804 | 39459 | 39708 |
| Propio LS, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Health Care Providers & Services | SOFR + 475 | 8.75% | 5/10/2030 | 3006 | 2977 | 2991 |
| Propulsion (BC) Finco S.a.r.l. | Term loan, Tranche B | (2) (3) (4) (14) | Aerospace & Defense | SOFR + 275 | 7.04% | 9/14/2029 | 5943 | 5934 | 5961 |
| PXO Holdings I Corp. | Delayed Draw Term Loan | (4) (5) (14) | Chemicals, Plastics & Rubber | SOFR + 550 | 9.78% | 3/8/2028 | 2323 | 2302 | 2284 |
| PXO Holdings I Corp. | Revolver | (4) (5) (6) (13) (14) | Chemicals, Plastics & Rubber | SOFR + 550 | 9.96% | 3/8/2028 | 230 | 219 | 208 |
| PXO Holdings I Corp. | Term Loan | (2) (3) (4) (5) (14) | Chemicals, Plastics & Rubber | SOFR + 550 | 9.48% | 3/8/2028 | 17904 | 17712 | 17601 |
| PXO Holdings I Corp. | Term Loan, 1st Amendment | (2) (3) (4) (5) (13) (14) | Chemicals, Plastics & Rubber | SOFR + 550 | 9.96% | 3/8/2028 | 2163 | 2132 | 2127 |
| QBS Parent, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Energy: Oil & Gas | SOFR + 450 | 8.50% | 6/3/2032 | 44485 | 44233 | 44708 |
| Rackspace Technology Global, Inc. | Term Loan | (4) (5) (13) (14) | Software | SOFR + 275 | 7.04% | 2/15/2028 | 15942 | 9000 | 7074 |
| Radwell Parent LLC | Delayed Draw Term Loan | (4) (5) (6) (14) | Distributors | SOFR + 550 | 9.50% | 4/1/2029 | 40 | 24 | 40 |
| Radwell Parent LLC | Revolver | (4) (5) (6) (14) | Distributors | SOFR + 550 | 9.80% | 4/1/2028 | 372 | 352 | 372 |
| Radwell Parent LLC | Term Loan, 1st Amendment | (2) (3) (4) (5) (14) | Distributors | SOFR + 550 | 9.50% | 4/1/2029 | 18093 | 17751 | 18093 |
| Raven Acquisition Holdings, LLC | Term Loan, Tranche B | (2) (3) (4) (6) | Health Care Providers & Services | SOFR + 300 | 7.32% | 11/19/2031 | 7739 | 7701 | 7733 |
| RealPage, Inc. | Term Loan | (2) (3) (4) (13) (14) | Software | SOFR + 300 | 7.26% | 4/24/2028 | 4903 | 4833 | 4889 |
| Redstone Holdco 2 LP | Term Loan | (2) (3) (4) (5) (13) (14) | Computers and Electronics Retail | SOFR + 475 | 9.32% | 4/27/2028 | 11308 | 9969 | 5795 |
| RFS OpCo, LLC | Delayed Draw Term Loan | (5) (6) | Financial Services | SOFR + 325 | 7.48% | 4/4/2031 |  | (14) | (17) |
| Rialto Management Group, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Real Estate Management & Development | SOFR + 500 | 9.16% | 12/5/2030 | 14510 | 14375 | 14584 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Rocket Software, Inc. | Term Loan | (2) (4) (14) (21) | Software | SOFR + 375 | 7.91% | 11/28/2028 | 11806 | 11720 | 11824 |
| Rome Bidco Ltd. | Delayed Draw Term Loan | (2) (3) (4) (5) (6) (8) (14) | Hotels, Restaurants & Leisure | SONIA + 189, 5.86% PIK | 11.72% | 12/23/2027 | £4930 | 6369 | 6890 |
| Rome Bidco Ltd. | Term Loan | (2) (3) (4) (5) (8) (14) | Hotels, Restaurants & Leisure | SONIA + 189, 5.86% PIK | 11.72% | 12/23/2027 | £38717 | 51760 | 53893 |
| Rotation Buyer, LLC | Delayed Draw Term Loan | (4) (5) (6) | Machinery | SOFR + 475 | 8.95% | 12/27/2031 | 558 | 538 | 540 |
| Rotation Buyer, LLC | Revolver | (4) (5) (6) | Machinery | SOFR + 475 | 8.75% | 12/27/2031 | 455 | 445 | 446 |
| Rotation Buyer, LLC | Term Loan | (2) (3) (4) (5) | Machinery | SOFR + 475 | 8.75% | 12/27/2031 | 8745 | 8665 | 8675 |
| Savor Acquisition, Inc. | Term Loan, Tranche B | (2) (4) (6) (21) | Beverage, Food & Tobacco | SOFR + 300 | 7.16% | 2/17/2032 | 2735 | 2728 | 2751 |
| SCP Eye Care HoldCo, LLC | Delayed Draw Term Loan, Incremental | (4) (5) (6) (13) (14) | Health Care Providers & Services | SOFR + 550 | 9.76% | 10/7/2029 | 628 | 612 | 628 |
| SCP Eye Care HoldCo, LLC | Term Loan, Incremental | (2) (3) (4) (5) (13) (14) | Health Care Providers & Services | SOFR + 550 | 9.88% | 10/7/2029 | 542 | 534 | 542 |
| SCP Eye Care HoldCo, LLC | Delayed Draw Term Loan | (4) (5) (13) (14) | Health Care Providers & Services | SOFR + 550 | 9.76% | 10/5/2029 | 38 | 38 | 38 |
| SCP Eye Care HoldCo, LLC | Term Loan | (4) (5) (6) (13) (14) | Health Care Providers & Services | SOFR + 550 | 9.76% | 10/5/2029 | 117 | 115 | 117 |
| Seahawk Bidco, LLC | Delayed Draw Term Loan | (4) (5) (6) (14) | Consumer Services | SOFR + 475 | 8.95% | 12/29/2026 | 7329 | 7275 | 7345 |
| Seahawk Bidco, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Consumer Services | SOFR + 475 | 8.75% | 12/29/2031 | 37136 | 36858 | 37186 |
| Sharp Services, LLC | Term Loan, Tranche B | (2) (4) (21) | Commercial Services & Supplies | SOFR + 300 | 6.99% | 9/10/2032 | 4750 | 4726 | 4750 |
| Sigma Irish AcquiCo Ltd. | Term Loan, Tranche B | (4) (5) (6) | Capital Markets | SOFR + 525 | 9.37% | 3/19/2032 | 20444 | 19988 | 20080 |
| Sigma Irish AcquiCo Ltd. | Term Loan, Tranche B | (4) (5) | Capital Markets | EURIBOR + 525 | 7.25% | 3/19/2032 | 11937 | 12767 | 13804 |
| Sigma Irish AcquiCo Ltd. | Delayed Draw Term Loan | (4) | Capital Markets | EURIBOR + 525 | 7.25% | 3/19/2032 | 1596 | 1872 | 1874 |
| SitusAMC Holdings Corp. | Term Loan, Incremental | (2) (3) (4) (5) (14) | Professional Services | SOFR + 550 | 9.50% | 5/14/2031 | 20769 | 20670 | 20625 |
| Smarsh, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Software | SOFR + 475 | 9.05% | 2/18/2029 | 5357 | 5292 | 5389 |
| Smarsh, Inc. | Revolver | (4) (5) (6) (14) | Software | SOFR + 475 | 8.75% | 2/18/2029 | 214 | 209 | 214 |
| SonicWall US Holdings, Inc. | Term Loan | (2) (3) (4) (14) | Electronic Equipment, Instruments & Components | SOFR + 500 | 9.00% | 5/16/2028 | 6905 | 6821 | 6560 |
| Sophia, LP | Term Loan, Tranche B | (2) (4) (14) (21) | Software | SOFR + 275 | 6.91% | 10/9/2029 | 7723 | 7700 | 7718 |
| Sophos Holdings, LLC | Term Loan, Incremental | (2) (4) (13) (21) | Software | SOFR + 350 | 7.78% | 3/5/2027 | 2976 | 2974 | 2979 |
| Sovos Compliance, LLC | Term Loan, Tranche B | (2) (4) (14) (21) | Software | SOFR + 275 | 6.91% | 8/11/2028 | 4919 | 4879 | 4924 |
| Speciality Pharma III Inc. | Term Loan | (2) (3) (4) (5) (13) | Health Care Providers & Services | SOFR + 450 | 8.76% | 3/31/2028 | 13491 | 13482 | 13491 |
| Speedstar Holding, LLC | Delayed Draw Term Loan, 3rd Amendment | (4) (5) (6) (14) | Automotives | SOFR + 600 | 10.31% | 7/2/2027 | 1304 | 1272 | 1255 |
| Speedstar Holding, LLC | Term Loan, 3rd Amendment | (2) (3) (4) (5) (14) | Automotives | SOFR + 600 | 10.29% | 7/2/2027 | 11939 | 11853 | 11715 |
| Spotless Brands, LLC | Delayed Draw Term Loan | (4) (5) (14) | Consumer Services | SOFR + 575 | 9.75% | 7/25/2028 | 7403 | 7275 | 7440 |
| Spotless Brands, LLC | Revolver | (4) (5) (6) (14) | Consumer Services | SOFR + 575 | 9.75% | 7/25/2028 | 438 | 428 | 438 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Spotless Brands, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Consumer Services | SOFR + 575 | 9.62% | 7/25/2028 | 20550 | 20243 | 20565 |
| Spotless Brands, LLC | Delayed Draw Term Loan, Tranche A | (4) (5) (14) | Consumer Services | SOFR + 575 | 9.62% | 7/25/2028 | 4061 | 4017 | 4082 |
| Spotless Brands, LLC | Delayed Draw Term Loan, Tranche B | (4) (5) (14) | Consumer Services | SOFR + 575 | 9.62% | 7/25/2028 | 918 | 909 | 923 |
| Spotless Brands, LLC | Delayed Draw Term Loan, Tranche E | (4) (5) (6) (14) | Consumer Services | SOFR + 550 | 9.70% | 7/25/2028 | 22252 | 22064 | 22372 |
| Star Parent, Inc. | Term Loan, Tranche B | (2) (4) (21) | Health Care Providers & Services | SOFR + 400 | 8.00% | 9/27/2030 | 2955 | 2921 | 2954 |
| Starlight Parent, LLC | Term Loan | (2) (4) (5) (21) | IT Services | SOFR + 400 | 8.03% | 3/12/2032 | 10000 | 9715 | 9800 |
| Tank Holding Corp. | Term Loan | (2) (3) (4) (5) (6) | Capital Equipment | SOFR + 575 | 9.91% | 3/31/2028 | 43432 | 43011 | 42244 |
| Tank Holding Corp. | Term Loan, Incremental | (2) (3) (4) (5) (13) (14) | Capital Equipment | SOFR + 600 | 10.26% | 3/31/2028 | 9890 | 9746 | 9693 |
| Tank Holding Corp. | Delayed Draw Term Loan, Incremental | (2) (3) (4) (5) (13) (14) | Capital Equipment | SOFR + 600 | 10.26% | 3/31/2028 | 4287 | 4225 | 4202 |
| Tecta America Corp. | Term Loan, Tranche B | (2) (4) (21) | Building Products | SOFR + 300 | 7.16% | 2/18/2032 | 1995 | 1990 | 2001 |
| The Chartis Group, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Health Care Providers & Services | SOFR + 450 | 8.52% | 9/17/2031 | 30995 | 30598 | 31309 |
| The Very Group Ltd. | Term Loan, Tranche A | (2) (3) (5) | Consumer Services | 13.50% | 13.50% | 2/26/2026 | 4684 | 5867 | 6252 |
| The Very Group Ltd. | Term Loan, Tranche B | (2) (3) (5) | Consumer Services | 13.50% | 13.50% | 2/26/2026 | 3918 | 4951 | 5230 |
| Tiger Acquisition, LLC | Term Loan, Tranche B | (2) (3) (4) (14) | High Tech Industries | SOFR + 250 | 6.64% | 6/1/2028 | 4190 | 4186 | 4172 |
| Titan Acquisition Ltd. | Term Loan, Tranche B | (2) (4) (21) | Machinery | SOFR + 400 | 7.92% | 2/15/2029 | 1975 | 1953 | 1979 |
| TK Elevator U.S. Newco, Inc. | Term Loan, Tranche B | (2) (4) (21) | Machinery | SOFR + 350 | 7.74% | 4/30/2030 | 9867 | 9862 | 9889 |
| Total Power Limited | Delayed Draw Term Loan | (2) (4) (5) (6) (14) | Machinery | CORRA + 525 | 7.70% | 7/22/2030 | 3481 | 2398 | 2470 |
| Total Power Limited | Revolver | (2) (4) (5) (6) (14) | Machinery | CORRA + 525 | 7.70% | 7/22/2030 | 444 | 303 | 304 |
| Total Power Limited | Term Loan, Tranche A | (2) (3) (4) (5) (14) | Machinery | CORRA + 525 | 7.70% | 7/22/2030 | 19299 | 13825 | 13759 |
| TransDigm, Inc. | Term Loan, Tranche M | (2) (4) (21) | Aerospace & Defense | SOFR + 250 | 6.50% | 8/19/2032 | 5000 | 4988 | 4994 |
| Trioworld Midco 2 AB | Term Loan | (4) (5) (8) | Containers, Packaging & Glass | EURIBOR + 10.25% PIK | 12.29% | 10/17/2028 | 40211 | 42211 | 46974 |
| Triton Water Holdings, Inc. | Term Loan, Tranche B | (2) (3) (4) (14) | Beverage, Food & Tobacco | SOFR + 225 | 6.25% | 3/31/2028 | 8144 | 8124 | 8139 |
| Truist Insurance Holdings, LLC | Term Loan, Tranche B | (2) (4) (21) | Insurance | SOFR + 275 | 6.75% | 5/6/2031 | 6218 | 6208 | 6208 |
| TTF Holdings, LLC | Term Loan | (2) (3) (4) (5) | Financial Services | SOFR + 375 | 7.79% | 7/18/2031 | 1917 | 1901 | 1812 |
| Tufin Software North America, Inc. | Term Loan, 1st Amendment | (2) (3) (4) (5) (13) (14) | Software | SOFR + 518 | 9.44% | 8/25/2028 | 8600 | 8487 | 8591 |
| Tufin Software North America, Inc. | Term Loan, 3rd Amendment | (2) (3) (4) (5) (13) (14) | Software | SOFR + 518 | 9.44% | 8/25/2028 | 2688 | 2666 | 2686 |
| Tufin Software North America, Inc. | Term Loan | (2) (3) (4) (5) (6) (13) (14) | Software | SOFR + 518 | 9.44% | 8/25/2028 | 27178 | 26860 | 27149 |
| Turquoise TopCo Ltd. | Term Loan, Tranche B | (2) (4) (21) | Hotels, Restaurants & Leisure | SOFR + 325 | 7.23% | 8/4/2032 | 6400 | 6368 | 6404 |
| UKG, Inc. | Term Loan, Tranche B | (2) (4) (21) | Software | SOFR + 250 | 6.80% | 2/10/2031 | 9900 | 9890 | 9887 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| United Flow Technologies Intermediate Holdco II, LLC | Delayed Draw Term Loan | (4) (5) (14) | Environmental Industries | SOFR + 525 | 9.45% | 6/21/2031 | 5561 | 5491 | 5562 |
| United Flow Technologies Intermediate Holdco II, LLC | Term Loan | (2) (3) (4) (5) (6) (14) | Environmental Industries | SOFR + 525 | 9.25% | 6/21/2031 | 9955 | 9813 | 9957 |
| United Flow Technologies Intermediate Holdco II, LLC | Delayed Draw Term Loan, 1st Amendment | (4) (6) (14) | Environmental Industries | SOFR + 525 | 9.45% | 6/23/2031 | 2164 | 2074 | 2165 |
| USR Parent, Inc. | Term Loan, 3rd Amendment | (2) (3) (4) (5) (11) (14) | Specialty Retail | SOFR + 760 | 11.88% | 4/25/2027 | 2291 | 2283 | 2268 |
| Vensure Employer Services, Inc. | Term Loan | (2) (3) (4) (5) (6) (14) | Professional Services | SOFR + 500 | 9.17% | 9/27/2031 | 69610 | 68949 | 69008 |
| Verifone Systems, Inc. | Term Loan | (2) (3) (4) (13) | High Tech Industries | SOFR + 550 | 10.07% | 8/18/2028 | 2406 | 2404 | 2323 |
| VGL Midco Ltd. | Term Loan, Tranche A | (2) (3) (5) (8) | Consumer Services | 15.00% PIK | 15.00% | 11/28/2025 | £2925 | 3632 | 3894 |
| VGL Midco Ltd. | Term Loan, Tranche B1 | (4) (5) (8) | Consumer Services | SONIA + 12.50% PIK | 16.47% | 11/1/2025 | £16103 | 20479 | 21657 |
| VGL Midco Ltd. | Term Loan, Tranche B2 | (4) (5) (8) | Consumer Services | SONIA + 12.50% PIK | 16.47% | 11/1/2025 | £16673 | 21199 | 22423 |
| Vienna Bidco Ltd. | Term Loan, Tranche B | (4) (8) (14) | Health Care Equipment & Supplies | SONIA + 5.65% PIK | 9.62% | 8/21/2030 | £29055 | 38013 | 38099 |
| Vision Solutions, Inc. | Term Loan, Incremental | (2) (4) (13) (14) (21) | Software | SOFR + 400 | 8.57% | 4/24/2028 | 12783 | 12469 | 12303 |
| WestJet Loyalty LP | Term Loan, Tranche B | (2) (4) (21) | Passenger Airlines | SOFR + 325 | 7.55% | 2/14/2031 | 4925 | 4885 | 4928 |
| White Cap Buyer, LLC | Term Loan, Tranche B | (2) (4) (21) | Trading Companies & Distributors | SOFR + 325 | 7.42% | 10/19/2029 | 4963 | 4941 | 4961 |
| Whitney Merger Sub, Inc. | Term Loan | (2) (3) (4) (6) (14) | Hotels, Restaurants & Leisure | SOFR + 475 | 8.75% | 7/3/2032 | 17133 | 16942 | 16942 |
| Windsor Holdings III, LLC | Term Loan, Tranche B | (2) (4) (21) | Chemicals, Plastics & Rubber | SOFR + 275 | 6.92% | 8/1/2030 | 3921 | 3875 | 3921 |
| Wineshipping.com, LLC | Delayed Draw Term Loan, 3rd Amendment | (4) (5) (6) (8) | Beverage, Food & Tobacco | SOFR + 6.25% PIK | 10.40% | 12/31/2028 | 233 | 233 | (243) |
| Wineshipping.com, LLC | Delayed Draw Term Loan | (2) (3) (4) (5) (8) (13) (14) | Beverage, Food & Tobacco | SOFR + 6.25% PIK | 10.40% | 10/29/2027 | 397 | 394 | 294 |
| Wineshipping.com, LLC | Revolver | (2) (3) (4) (5) (6) (8) (13) (14) | Beverage, Food & Tobacco | SOFR + 6.25% PIK | 10.40% | 10/29/2027 | 1891 | 1876 | 1341 |
| Wineshipping.com, LLC | Term Loan | (2) (3) (4) (5) (8) (13) (14) | Beverage, Food & Tobacco | SOFR + 6.25% PIK | 10.40% | 12/31/2028 | 14708 | 14597 | 10910 |
| Yellowstone Buyer Acquisition, LLC | Term Loan | (2) (3) (4) (5) (14) | Consumer Goods: Durable | SOFR + 585 | 10.17% | 9/14/2027 | 6489 | 6438 | 5870 |
| YLG Holdings, Inc. | Term Loan | (2) (3) (4) (5) | Commercial Services & Supplies | SOFR + 475 | 9.04% | 12/23/2030 | 516 | 511 | 518 |
| YLG Holdings, Inc. | Delayed Draw Term Loan, 8th Amendment | (4) (5) (6) (14) | Commercial Services & Supplies | SOFR + 475 | 8.92% | 12/23/2030 | 57 | 57 | 58 |
| YLG Holdings, Inc. | Revolver | (2) (3) (4) (5) (6) (14) | Commercial Services & Supplies | SOFR + 475 | 8.75% | 12/23/2030 | 3 | 3 | 3 |
| Zelis Payments Buyer, Inc. | Term Loan, 5th Amendment | (2) (4) (21) | Health Care Technology | SOFR + 325 | 7.41% | 11/26/2031 | 9925 | 9880 | 9920 |
| First Lien Debt Total | First Lien Debt Total | First Lien Debt Total |  |  |  |  |  | $4187041 | $4215643 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Loans (94.4% of Net Assets)** | **Investments—Corporate Loans (94.4% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| **Second Lien Debt (3.2% of Net Assets)** | **Second Lien Debt (3.2% of Net Assets)** | | | | | | | | |
| 11852604 Canada, Inc. | Term Loan | (4) (5) (8) (13) (14) | Health Care Providers & Services | SOFR + 9.50% PIK | 13.65% | 9/30/2028 | $45215 | $44899 | $44875 |
| 520 Mezz Owner 2, LLC | Term Loan, Mezzanine | (4) (5) (6) (8) (14) | Real Estate Management & Development | SOFR + 12.62% PIK | 16.79% | 3/2/2026 | 21022 | 20982 | 21156 |
| AQA Acquisition Holding, Inc. | Term Loan, Incremental | (2) (3) (4) (5) (14) | Software | SOFR + 625 | 10.56% | 3/2/2029 | 18856 | 18753 | 18757 |
| Boxer Parent Company Inc. | Term Loan | (2) (4) (21) | Software | SOFR + 575 | 10.08% | 6/30/2032 | 3700 | 3573 | 3598 |
| Delta TopCo, Inc. | Term Loan | (2) (3) (4) | Computers and Electronics Retail | SOFR + 525 | 9.52% | 11/29/2030 | 5000 | 4979 | 4970 |
| Denali Midco 2, LLC | Term Loan, 3rd Amendment | (5) (8) | Consumer Services | 13.00% PIK | 13.00% | 12/22/2029 | 4172 | 4112 | 4104 |
| National Mentor Holdings, Inc. | Term Loan | (2) (3) (4) (5) (13) (14) | Health Care Providers & Services | SOFR + 725 | 11.35% | 3/2/2029 | 2000 | 1990 | 1977 |
| Neptune Bidco US, Inc. | Term Loan | (2) (3) (4) (5) (13) (14) | Professional Services | SOFR + 975 | 14.18% | 10/11/2029 | 38440 | 37597 | 38440 |
| PAI Holdco, Inc. | Term Loan | (2) (3) (4) (5) (13) (14) | Automotives | SOFR + 750 | 11.96% | 10/28/2028 | 3724 | 3676 | 3145 |
| Peraton Corp. | Term Loan, Tranche B1 | (2) (3) (4) (13) (14) | Aerospace & Defense | SOFR + 775 | 12.05% | 2/1/2029 | 4445 | 4409 | 2628 |
| RXR Atlas Mezz, LLC | Term Loan, Mezzanine | (4) (5) (15) | Real Estate Management & Development | SOFR + 1000 | 14.24% | 8/25/2025 | 5000 | 4923 | 433 |
| TruGreen Limited Partnership | Term Loan | (2) (3) (4) (5) (14) | Consumer Services | SOFR + 850 | 12.78% | 11/2/2028 | 2000 | 1980 | 1792 |
| *Second Lien Debt Total* | *Second Lien Debt Total* | *Second Lien Debt Total* |  |  |  |  |  | $151873 | $145875 |
| Corporate Loans Total | Corporate Loans Total | Corporate Loans Total |  |  |  |  |  | $4338914 | $4361518 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Footnotes** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| 720 East CLO IV Ltd. | Series 2024-1A, Class E | (4) (5) (7) | SOFR + 650 | 10.82% | 4/15/2037 | $1000 | $1000 | $1010 |
| 720 East CLO Ltd. | Series 2023-2A, Class D | (4) (5) (7) | SOFR + 515 | 9.47% | 10/15/2036 | 2000 | 2000 | 2004 |
| AB BSL CLO 5 Ltd. | Series 2024-5A, Class E | (4) (5) (7) | SOFR + 610 | 10.43% | 1/20/2038 | 1250 | 1250 | 1261 |
| ABPCI Direct Lending Fund CLO I LLC | Series 2024-17A, Class D | (4) (5) (7) | SOFR + 470 | 9.00% | 8/1/2036 | 3300 | 3300 | 3314 |
| ABPCI Direct Lending Fund CLO V Ltd. | Series 2019-5A, Class CRR | (4) (5) (7) | SOFR + 575 | 10.08% | 1/20/2036 | 5275 | 5275 | 5318 |
| Abry Liquid Credit CLO 2025-1 Ltd. | Series 2025-1A, Class E | (4) (5) (7) | SOFR + 600 | 9.95% | 10/20/2028 | 3000 | 3000 | 3000 |
| AGL CLO 19 Ltd. | Series 2022-19A, Class ER | (4) (5) (7) | SOFR + 550 | 9.82% | 7/21/2038 | 6050 | 6050 | 6074 |
| AGL CLO 20 Ltd. | Series 2022-20A, Class ER | (4) (5) (7) | SOFR + 640 | 10.73% | 10/20/2037 | 2700 | 2700 | 2713 |
| AGL CLO 9 Ltd. | Series 2020-9A, Class ER | (4) (5) (7) | SOFR + 650 | 10.83% | 4/20/2037 | 5600 | 5600 | 5610 |
| Aimco CLO 20 Ltd. | Series 2023-20A, Class E | (4) (5) (7) | SOFR + 700 | 11.32% | 10/16/2036 | 6000 | 6000 | 6034 |
| Aimco CLO Series 2018-A Ltd. | Series 2018-AA, Class ER | (4) (5) (7) | SOFR + 525 | 9.57% | 10/17/2037 | 1330 | 1330 | 1339 |
| Allegro CLO XV Ltd. | Series 2022-1A, Class ER | (4) (5) (7) | SOFR + 550 | 9.83% | 4/20/2038 | 2500 | 2500 | 2453 |
| Allegro CLO XVII Ltd. | Series 2025-2A, Class SUB | (4) (5) (7) (12) |  |  | 7/25/2038 | 1875 | 1472 | 1473 |
| Anchorage Capital CLO Ltd. | Series 2021-21A, Class SUB | (4) (5) (7) (12) |  |  | 10/20/2034 | 4149 | 2608 | 1930 |
| Anchorage Capital CLO Ltd. | Series 2021-18A, Class E | (4) (5) (7) (13) | SOFR + 646 | 11.04% | 4/15/2034 | 4000 | 3972 | 4010 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Footnotes** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Apidos CLO XVIII-R Ltd. | Series 2018-18A, Class ER2 | (4) (5) (7) | SOFR + 550 | 9.83% | 1/22/2038 | 5450 | 5450 | 5480 |
| Apidos CLO, Ltd. | Series 2020-33A, Class ER2 | (4) (5) (7) | SOFR + 732 | 11.64% | 4/24/2038 | 9400 | 9037 | 9707 |
| Apidos CLO, Ltd. | Series 2020-33A, Class FR2 | (4) (5) (7) | SOFR + 855 | 12.87% | 4/24/2038 | 250 | 231 | 243 |
| Apidos CLO, Ltd. | Series 2020-33A, Class SUB | (4) (5) (7) (12) |  |  | 4/24/2038 | 21960 | 11390 | 11807 |
| Arbour CLO IX DAC | Series 9X, Class E | (4) (5) (16) | EURIBOR + 579 | 7.82% | 4/15/2034 | 2337 | 2221 | 2744 |
| Ares CLO Ltd. | Series 2021-60A, Class SUB | (4) (5) (7) |  |  | 7/18/2034 | 6500 | 3928 | 3089 |
| Ares LV CLO Ltd. | Series 2020-55A, Class SUB | (4) (5) (7) (12) |  |  | 10/15/2037 | 12440 | 9000 | 8657 |
| Ares XLIII CLO Ltd. | Series 2017-43A, Class ER2 | (4) (5) (7) | SOFR + 600 | 10.32% | 1/15/2038 | 6340 | 6340 | 6443 |
| Ares XLIX CLO Ltd. | Series 2018-49A, Class ER | (4) (5) (7) (12) | SOFR + 650 | 10.83% | 10/22/2036 | 1113 | 1161 | 1135 |
| Ares XXXIV CLO Ltd. | Series 2015-2A, Class ER2 | (4) (5) (7) | SOFR + 550 | 9.74% | 7/17/2038 | 4070 | 4070 | 4111 |
| Arini European CLO I DAC | Series 1X, Class ER | (4) (5) (16) | EURIBOR + 575 | 7.69% | 10/15/2038 | 3000 | 3539 | 3537 |
| Arini European CLO V DAC | Series 5X, Class E | (4) (5) (16) | EURIBOR + 470 | 7.07% | 1/15/2039 | 1900 | 2229 | 2208 |
| Arini European CLO VI DAC | Series 6A, Class E | (4) (5) (7) | EURIBOR + 575 | 7.83% | 7/15/2039 | 3730 | 4384 | 4418 |
| Arini U.S. CLO II Ltd. | Series 2A, Class E | (4) (5) (7) | SOFR + 565 | 9.94% | 3/31/2038 | 8000 | 8000 | 8080 |
| Audax Senior Debt CLO 12, LLC | Series 2025-12A, Class SUB | (4) (5) (7) (12) |  |  | 4/22/2037 | 1330 | 1230 | 1239 |
| Audax Senior Debt CLO 9, LLC | Series 2024-9A, Class D | (4) (5) (7) | SOFR + 520 | 9.53% | 4/20/2036 | 5000 | 5000 | 5062 |
| Avoca CLO XI DAC | Series 11A, Class ERR | (4) (5) (7) | EURIBOR + 615 | 8.18% | 10/15/2038 | 1750 | 1876 | 2073 |
| Avoca CLO XXIX DAC | Series 29A, Class ER | (4) (5) (7) | EURIBOR + 530 | 7.33% | 10/15/2038 | 4270 | 4995 | 5013 |
| Avoca CLO XXXIII DAC | Series 33A, Class E | (4) (5) (7) | EURIBOR + 535 | 7.39% | 10/15/2038 | 6220 | 7098 | 7314 |
| Babson CLO Ltd. | Series 2020-1A, Class ER2 | (4) (5) (7) | SOFR + 550 | 9.82% | 1/15/2038 | 1600 | 1600 | 1597 |
| Babson CLO Ltd. | Series 2021-3A, Class SUB | (4) (5) (7) (12) |  |  | 1/18/2035 | 14100 | 8400 | 4585 |
| Ballyrock CLO 21 Ltd. | Series 2022-21A, Class DR | (4) (5) (7) | SOFR + 600 | 10.33% | 10/20/2037 | 1000 | 1000 | 992 |
| Ballyrock CLO 24 Ltd. | Series 2023-24A, Class DR | (4) (5) (7) | SOFR + 600 | 10.33% | 7/13/2038 | 3350 | 3350 | 3375 |
| Ballyrock CLO 26 Ltd. | Series 2024-26A, Class C2 | (4) (5) (7) | SOFR + 470 | 9.02% | 7/25/2037 | 8250 | 8250 | 8311 |
| Ballyrock CLO 28 Ltd. | Series 2024-28A, Class SUB | (4) (5) (7) |  |  | 1/20/2038 | 5000 | 4276 | 3693 |
| Barings CLO 2019-II Ltd. | Series 2019-2A, Class ERR | (4) (5) (7) | SOFR + 600 | 10.32% | 1/15/2038 | 10000 | 10000 | 10112 |
| Barings CLO 2023-II Ltd. | Series 2023-2A, Class ER | (4) (5) (7) (12) | SOFR + 510 | 9.06% | 10/20/2038 | 2750 | 2750 | 2759 |
| Barings CLO 2025-I Ltd. | Series 2025-1A, Class SUB | (4) (5) (7) |  |  | 4/20/2038 | 5000 | 4208 | 4219 |
| Barings CLO 2025-IV Ltd. | Series 2025-4A, Class E | (4) (5) (7) (12) | SOFR + 500 | 8.97% | 10/15/2040 | 3000 | 3000 | 3003 |
| Barings Middle Market CLO Ltd. | Series 2023-IA, Class C | (4) (5) (7) | SOFR + 640 | 10.73% | 1/20/2036 | 2750 | 2750 | 2774 |
| Benefit Street Partners CLO V-B Ltd. | Series 2018-5BA, Class ER | (4) (5) (7) | SOFR + 630 | 10.63% | 7/20/2037 | 10710 | 10710 | 10836 |
| Benefit Street Partners CLO XX Ltd. | Series 2020-20A, Class ERR | (4) (5) (7) (12) | SOFR + 490 | 9.19% | 10/15/2028 | 7560 | 7560 | 7560 |
| Benefit Street Partners CLO XXXII Ltd. | Series 2023-32A, Class E | (4) (5) (7) | SOFR + 735 | 11.67% | 10/25/2036 | 4000 | 4000 | 4010 |
| Benefit Street Partners CLO XXXIV Ltd. | Series 2024-34A, Class E | (4) (5) (7) | SOFR + 670 | 11.02% | 7/25/2037 | 4000 | 4000 | 4070 |
| Benefit Street Partners CLO XXXVIII Ltd. | Series 2024-38A, Class SUB | (4) (5) (7) |  |  | 1/25/2038 | 5000 | 4568 | 4377 |
| Birch Grove CLO 11 Ltd. | Series 2024-11A, Class E | (4) (5) (7) | SOFR + 580 | 10.13% | 1/22/2038 | 6000 | 6000 | 6075 |
| Birch Grove CLO 13 Ltd. | Series 2025-13A, Class E | (4) (5) (7) | SOFR + 515 | 9.31% | 10/23/2038 | 14000 | 14000 | 14074 |
| Birch Grove CLO 9 Ltd. | Series 2024-9A, Class E | (4) (5) (7) | SOFR + 625 | 10.58% | 10/22/2037 | 2500 | 2500 | 2530 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Footnotes** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Birch Grove CLO Ltd. | Series 19A, Class ERR | (4) (5) (7) | SOFR + 694 | 11.26% | 7/17/2037 | 7000 | 6936 | 7059 |
| BlackRock European CLO DAC | Series 5X, Class SUB | (4) (5) (12) (16) |  |  | 7/16/2031 | 2750 | 489 | 534 |
| BlueMountain CLO XXIV Ltd. | Series 2019-24A, Class ER | (4) (5) (7) (13) | SOFR + 684 | 11.43% | 4/20/2034 | 4000 | 3997 | 3921 |
| BlueMountain CLO XXV Ltd. | Series 2019-25A, Class ERR | (4) (5) (7) | SOFR + 742 | 11.74% | 1/15/2038 | 5725 | 5617 | 5730 |
| BlueMountain CLO XXXI Ltd. | Series 2021-31A, Class E | (4) (5) (7) (13) | SOFR + 653 | 11.12% | 4/19/2034 | 735 | 652 | 729 |
| BlueMountain CLO XXXIII Ltd. | Series 2021-33A, Class SUB | (4) (5) (7) (12) |  |  | 11/20/2034 | 5900 | 4180 | 2323 |
| Brightwood Capital MM CLO Ltd. | Series 2023-1A, Class C | (4) (5) (7) | SOFR + 480 | 9.12% | 10/15/2035 | 2900 | 2851 | 2914 |
| Bryant Park Funding 2023-21 Ltd. | Series 2023-21A, Class D | (4) (5) (7) | SOFR + 545 | 9.78% | 10/18/2036 | 4800 | 4800 | 4800 |
| Bryant Park Funding 2024-25 Ltd. | Series 2024-25A, Class E | (4) (5) (7) | SOFR + 575 | 10.08% | 1/18/2038 | 6000 | 6000 | 6056 |
| CBAM 2017-3 Ltd. | Series 2017-3A, Class ER | (4) (5) (7) (13) | SOFR + 711 | 11.69% | 7/17/2034 | 4000 | 3971 | 3918 |
| Cedar Funding CLO Ltd. | Series 2016-6A, Class SUB | (4) (5) (7) (12) |  |  | 4/20/2034 | 14822 | 9420 | 6635 |
| CIFC European Funding CLO IV DAC | Series 4X, Class E | (4) (5) (16) | EURIBOR + 597 | 7.99% | 8/18/2035 | 2845 | 2780 | 3371 |
| CIFC Funding Ltd. | Series 2017-5A, Class ER | (4) (5) (7) | SOFR + 615 | 10.47% | 7/17/2037 | 4750 | 4750 | 4755 |
| CIFC Funding Ltd. | Series 2018-3A, Class ER | (4) (5) (7) | SOFR + 480 | 8.88% | 10/18/2038 | 2250 | 2250 | 2252 |
| CIFC Funding Ltd. | Series 2018-5A, Class ER | (4) (5) (7) | SOFR + 660 | 10.92% | 7/15/2038 | 3000 | 3000 | 3025 |
| CIFC Funding Ltd. | Series 2019-2A, Class ERR | (4) (5) (7) | SOFR + 485 | 8.99% | 10/17/2038 | 2850 | 2850 | 2866 |
| CIFC Funding Ltd. | Series 2021-3A, Class E1 | (4) (5) (7) (13) | SOFR + 640 | 10.98% | 7/15/2036 | 1500 | 1477 | 1506 |
| CIFC Funding Ltd. | Series 2023-1A, Class E | (4) (5) (7) | SOFR + 715 | 11.47% | 10/15/2037 | 6000 | 6000 | 6000 |
| CIFC Funding Ltd. | Series 2023-1A, Class ER | (4) (5) (7) | SOFR + 470 | 8.60% | 10/15/2038 | 9000 | 9000 | 9000 |
| CIFC Funding Ltd. | Series 2023-3A, Class E | (4) (5) (7) | SOFR + 765 | 11.98% | 1/20/2037 | 7000 | 7000 | 7076 |
| CIFC Funding Ltd. | Series 2015-4A, Class SUB | (4) (5) (7) (12) |  |  | 4/20/2034 | 5953 | 2415 | 1605 |
| CIFC Funding Ltd. | Series 2024-2A, Class E | (4) (5) (7) | SOFR + 640 | 10.73% | 4/22/2037 | 5650 | 5650 | 5716 |
| Crown Point CLO Ltd. | Series 2019-8A, Class ER | (4) (5) (7) (13) | SOFR + 713 | 11.72% | 10/20/2034 | 3463 | 3073 | 3459 |
| Crown Point CLO Ltd. | Series 2021-10A, Class E | (4) (5) (7) (13) | SOFR + 685 | 11.44% | 7/20/2034 | 3000 | 2935 | 3008 |
| CVC Cordatus Loan Fund XXII DAC | Series 22X, Class E | (4) (5) (7) | EURIBOR + 616 | 8.17% | 12/15/2034 | 1550 | 1552 | 1850 |
| CVC Cordatus Loan Fund XXVI DAC | Series 26A, Class ER | (4) (5) (16) | EURIBOR + 575 | 7.78% | 1/15/2038 | 4840 | 5066 | 5728 |
| CVC Cordatus Loan Fund XXVII DAC | Series 27A, Class ER | (4) (5) (7) | EURIBOR + 610 | 8.13% | 4/15/2038 | 2125 | 2373 | 2536 |
| Danby Park CLO Ltd. | Series 2022-1A, Class M1 | (4) (5) (7) (12) |  |  | 10/21/2035 | 7191 |  | 114 |
| Danby Park CLO Ltd. | Series 2022-1A, Class M2 | (4) (5) (7) (12) |  |  | 10/21/2035 | 7191 |  | 265 |
| Danby Park CLO Ltd. | Series 2022-1A, Class SUB | (4) (5) (7) (12) |  |  | 10/21/2035 | 7191 | 4176 | 5552 |
| Elmwood CLO 17 Ltd. | Series 2022-4A, Class SUB | (4) (5) (7) (12) |  |  | 7/17/2037 | 17500 | 11616 | 11350 |
| Elmwood CLO 22 Ltd. | Series 2023-1A, Class ER | (4) (5) (7) | SOFR + 480 | 9.12% | 4/17/2038 | 5000 | 5000 | 5005 |
| Elmwood CLO I Ltd. | Series 2019-1A, Class ERR | (4) (5) (7) | SOFR + 640 | 10.73% | 4/20/2037 | 3638 | 3624 | 3641 |
| Elmwood CLO II Ltd. | Series 2019-2A, Class ERR | (4) (5) (7) | SOFR + 575 | 10.08% | 10/20/2037 | 6500 | 6500 | 6508 |
| Elmwood CLO IX Ltd. | Series 2021-2A, Class ER | (4) (5) (7) | SOFR + 465 | 8.98% | 4/20/2038 | 1650 | 1644 | 1658 |
| Empower CLO 2022-1 Ltd. | Series 2022-1A, Class ER | (4) (5) (7) | SOFR + 590 | 10.23% | 10/20/2037 | 3000 | 3000 | 3008 |
| Empower CLO 2023-2 Ltd. | Series 2023-2A, Class ER | (4) (5) (7) | SOFR + 560 | 9.89% | 10/15/2028 | 2000 | 2000 | 2003 |
| Empower CLO 2024-1 Ltd. | Series 2024-1A, Class D1 | (4) (5) (7) | SOFR + 375 | 8.07% | 4/25/2037 | 14000 | 14000 | 14108 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Footnotes** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Generate CLO 18 Ltd. | Series 2024-18A, Class E | (4) (5) (7) | SOFR + 600 | 10.33% | 1/20/2038 | 3060 | 3060 | 3105 |
| Generate CLO 5 Ltd. | Series 5A, Class D2R | (4) (5) (7) | SOFR + 510 | 9.43% | 7/22/2037 | 6750 | 6750 | 6832 |
| Generate CLO 7 Ltd. | Series 7A, Class ER | (4) (5) (7) | SOFR + 694 | 11.27% | 4/22/2037 | 6540 | 6488 | 6384 |
| Generate CLO 8 Ltd. | Series 8A, Class ER2 | (4) (5) (7) | SOFR + 635 | 10.68% | 1/20/2038 | 2820 | 2820 | 2806 |
| Golub Capital Partners CLO Ltd. | Series 2024-71A, Class D | (4) (5) (7) | SOFR + 510 | 9.33% | 2/9/2037 | 7500 | 7500 | 7541 |
| Golub Capital Partners CLO Ltd. | Series 2019-43A, Class ER | (4) (5) (7) | SOFR + 575 | 10.08% | 10/20/2037 | 6750 | 6750 | 6790 |
| Golub Capital Partners CLO Ltd. | Series 2021-53A, Class ER | (4) (5) (7) | SOFR + 470 | 9.03% | 7/20/2034 | 4000 | 4000 | 3941 |
| Golub Capital Partners CLO Ltd. | Series 2019-42RA, Class DR | (4) (5) (7) | SOFR + 610 | 10.41% | 1/20/2036 | 4800 | 4800 | 4873 |
| Harvest Clo XXIX DAC | Series 29X, Class ER | (4) (5) (16) | EURIBOR + 627 | 8.30% | 7/15/2037 | 5000 | 5316 | 5936 |
| Henley Clo XIII DAC | Series 13A, Class E | (4) (5) (7) | EURIBOR + 570 | 7.72% | 10/15/2038 | 3880 | 4560 | 4576 |
| Invesco U.S. CLO 2024-1 Ltd. | Series 2024-1RA, Class D2R | (4) (5) (7) | SOFR + 550 | 9.82% | 4/15/2037 | 10000 | 10000 | 10108 |
| Ivy Hill Middle Market Credit Fund XXII Ltd. | Series 2024-22A, Class D | (4) (5) (7) | SOFR + 505 | 9.38% | 4/20/2036 | 2500 | 2500 | 2528 |
| KKR CLO 10 Ltd. | Series 10, Class ER | (4) (5) (7) | SOFR + 650 | 10.80% | 9/15/2029 | 3000 | 2979 | 3006 |
| KKR CLO 28 Ltd. | Series 28A, Class ER | (4) (5) (7) | SOFR + 740 | 11.72% | 2/9/2035 | 6800 | 6771 | 6805 |
| KKR CLO 36 Ltd. | Series 36A, Class SUB | (4) (5) (7) |  |  | 10/15/2034 | 8600 | 5396 | 2328 |
| KKR CLO 44 Ltd. | Series 44A, Class D | (4) (5) (7) | SOFR + 500 | 9.33% | 1/20/2036 | 5000 | 5000 | 5046 |
| KKR CLO 46 Ltd. | Series 2023-46A, Class ER | (4) (5) (7) (12) | SOFR + 700 | 11.33% | 10/20/2037 | 2080 | 2080 | 2107 |
| KKR CLO 54 Ltd. | Series 2024-54A, Class E | (4) (5) (7) (13) | SOFR + 580 | 10.12% | 1/15/2038 | 6100 | 6100 | 6167 |
| Logan CLO I Ltd. | Series 2024-5A, Class D2R | (4) (5) (7) | SOFR + 460 | 8.93% | 4/20/2037 | 3750 | 3750 | 3774 |
| Madison Park Funding LIV Ltd. | Series 2022-54A, Class ER | (4) (5) (7) | SOFR + 650 | 10.83% | 10/21/2037 | 750 | 750 | 757 |
| Madison Park Funding LV Ltd. | Series 2022-55A, Class ER | (4) (5) (7) | SOFR + 600 | 10.33% | 7/18/2037 | 5500 | 5500 | 5479 |
| Madison Park Funding LVIII Ltd. | Series 2024-58A, Class E | (4) (5) (7) | SOFR + 665 | 10.97% | 4/25/2037 | 6000 | 6000 | 6041 |
| Madison Park Funding XLVII Ltd. | Series 2020-47A, Class DR | (4) (5) (7) | SOFR + 390 | 8.23% | 4/19/2037 | 5000 | 5000 | 5042 |
| Madison Park Funding XLVII Ltd. | Series 2020-47A, Class ER | (4) (5) (7) | SOFR + 665 | 10.98% | 4/19/2037 | 5000 | 5000 | 5024 |
| Madison Park Funding XXXII Ltd. | Series 2018-32A, Class ER2 | (4) (5) (7) | SOFR + 640 | 10.73% | 7/22/2037 | 1800 | 1800 | 1806 |
| Magnetite XVII Ltd. | Series 2016-17A, Class ER2 | (4) (5) (7) | SOFR + 650 | 10.83% | 4/20/2037 | 6400 | 6400 | 6472 |
| Marble Point CLO XX Ltd. | Series 2021-1A, Class E | (4) (5) (7) (13) | SOFR + 711 | 11.69% | 4/23/2034 | 2500 | 2482 | 2503 |
| Marble Point CLO XXI Ltd. | Series 2021-3A, Class E | (4) (5) (7) (13) | SOFR + 720 | 11.78% | 10/17/2034 | 4000 | 3941 | 3930 |
| MidOcean Credit CLO XIII Ltd. | Series 2023-13A, Class D | (4) (5) (7) (12) | SOFR + 509 | 9.42% | 1/21/2037 | 3850 | 3816 | 3887 |
| MidOcean Credit CLO XIV Ltd. | Series 2024-14A, Class SUB | (4) (5) (7) |  |  | 4/15/2037 | 3375 | 2210 | 2005 |
| Neuberger Berman Loan Advisers CLO 36R Ltd. | Series 2020-36RA, Class E | (4) (5) (7) | SOFR + 490 | 9.18% | 7/20/2039 | 4270 | 4270 | 4284 |
| Neuberger Berman Loan Advisers Lasalle Street Lending CLO I Ltd. | Series 2023-1A, Class D1 | (4) (5) (7) | SOFR + 500 | 9.32% | 10/25/2036 | 3850 | 3816 | 3861 |
| Oaktree CLO 2019-2 Ltd. | Series 2019-2A, Class DR | (4) (5) (7) | SOFR + 719 | 11.51% | 10/15/2037 | 4550 | 4508 | 4560 |
| Oaktree CLO 2021-1 Ltd. | Series 2021-1A, Class ER | (4) (5) (7) | SOFR + 610 | 10.42% | 1/15/2038 | 5750 | 5750 | 5813 |
| Oaktree CLO 2025-31 Ltd. | Series 2025-31A, Class E | (4) (5) (7) | SOFR + 535 | 9.63% | 7/20/2038 | 12000 | 12000 | 12029 |
| OCP CLO 2016-12, Ltd. | Series 2016-12A, Class E1R3 | (4) (5) (7) | SOFR + 600 | 10.33% | 10/18/2037 | 2750 | 2750 | 2789 |
| OCP CLO 2020-8R Ltd | Series 2020-8RA, Class ER2 | (4) (5) (7) | SOFR + 470 | 8.58% | 10/17/2038 | 2500 | 2500 | 2500 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Footnotes** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| OCP Euro CLO 2020-4 DAC | Series 2020-4A, Class ERR | (4) (5) (7) | EURIBOR + 560 | 7.67% | 10/20/2039 | € | 3500 | 4068 | 4086 |
| OCP Euro CLO 2025-14 DAC | Series 2025-14A, Class E | (4) (5) (7) | EURIBOR + 535 | 7.38% | 10/26/2039 | € | 2500 | 2914 | 2935 |
| Octagon 58 Ltd. | Series 2022-1A, Class ER | (4) (5) (7) | SOFR + 625 | 10.57% | 4/15/2038 | 9500 | 9500 | 9500 | 9697 |
| Octagon 62 Ltd. | Series 2022-1A, Class ER | (4) (5) (7) | SOFR + 640 | 10.72% | 1/23/2038 | 2000 | 2000 | 2000 | 2013 |
| Octagon 70 Alto Ltd. | Series 2023-1A, Class D | (4) (5) (7) | SOFR + 409 | 8.42% | 10/20/2036 | 4850 | 4850 | 4724 | 4850 |
| Octagon 70 Alto Ltd. | Series 2023-1A, Class E | (4) (5) (7) | SOFR + 666 | 10.99% | 10/20/2036 | 1575 | 1575 | 1506 | 1561 |
| Octagon Investment Partners 40 Ltd. | Series 2019-1A, Class SUB | (4) (5) (7) |  |  | 1/20/2035 | 22500 | 22500 | 11627 | 4311 |
| OHA Credit Funding 16 Ltd. | Series 2023-16A, Class E | (4) (5) (7) (12) | SOFR + 675 | 11.08% | 10/20/2036 | 8000 | 8000 | 8000 | 8038 |
| OHA Loan Funding 2015-1 Ltd. | Series 2015-1A, Class ER4 | (4) (5) (7) | SOFR + 480 | 8.97% | 10/19/2038 | 3500 | 3500 | 3500 | 3522 |
| Palmer Square CLO 2018-1 Ltd. | Series 2018-1A, Class DR | (4) (5) (7) | SOFR + 694 | 11.27% | 4/18/2037 | 3300 | 3300 | 3316 | 3316 |
| Palmer Square CLO 2018-2 Ltd. | Series 2018-2A, Class DR | (4) (5) (7) | SOFR + 700 | 11.32% | 4/16/2037 | 8170 | 8170 | 8172 | 8266 |
| Palmer Square CLO 2021-4A Ltd. | Series 2021-4A, Class ER | (4) (5) (7) | SOFR + 575 | 10.02% | 7/15/2038 | 3500 | 3500 | 3554 | 3525 |
| Palmer Square CLO 2022-1A ER Ltd | Series 2022-1A, Class ER | (4) (5) (7) | SOFR + 520 | 9.16% | 10/20/2038 | 2000 | 2000 | 2000 | 2002 |
| Palmer Square CLO 2022-4 Ltd. | Series 2022-4A, Class ER | (4) (5) (7) | SOFR + 550 | 9.83% | 10/20/2037 | 2667 | 2667 | 2667 | 2683 |
| Palmer Square CLO 2024-2 Ltd. | Series 2024-2A, Class SUB | (4) (5) (7) |  |  | 7/20/2037 | 6600 | 6600 | 5606 | 5005 |
| Palmer Square CLO 2023-3 Ltd. | Series 2023-3A, Class E | (4) (5) (7) (12) | SOFR + 783 | 12.16% | 1/20/2037 | 3500 | 3500 | 3469 | 3553 |
| Palmer Square European CLO 2022-2 DAC | Series 2022-2A, Class ERR | (4) (5) (7) | EURIBOR + 575 | 7.73% | 1/15/2038 | € | 5880 | 6834 | 6931 |
| Palmer Square European CLO 2023-1 DAC | Series 2023-1A, Class ER | (4) (5) (7) | EURIBOR + 570 | 7.73% | 1/15/2038 | € | 8000 | 8452 | 9486 |
| PennantPark CLO II Ltd. | Series 2020-2A, Class DR | (4) (5) (7) | SOFR + 495 | 9.27% | 4/15/2036 | 5000 | 5000 | 5000 | 5015 |
| Providus CLO VII DAC | Series 7A, Class ER | (4) (5) (7) | EURIBOR + 642 | 8.45% | 7/15/2038 | € | 2250 | 2399 | 2658 |
| Providus CLO XIII DAC | Series 13X, Class E | (4) (5) (16) | EURIBOR + 500 | 7.03% | 11/19/2039 | € | 4500 | 5268 | 5283 |
| RAD CLO 17 Ltd. | Series 2022-17A, Class ER | (4) (5) (7) | SOFR + 625 | 10.58% | 1/20/2038 | 4000 | 4000 | 4000 | 4039 |
| Reese Park CLO, Ltd. | Series 2020-1A, Class ERR | (4) (5) (7) | SOFR + 600 | 10.32% | 1/15/2038 | 3560 | 3560 | 3560 | 3563 |
| Regatta 30 Funding Ltd. | Series 2024-4A, Class E | (4) (5) (7) | SOFR + 540 | 9.72% | 1/25/2038 | 2560 | 2560 | 2560 | 2584 |
| Regatta 35 Funding Ltd. | Series 2025-5A, Class E | (4) (5) (7) | SOFR + 525 | 9.53% | 10/15/2038 | 4570 | 4570 | 4570 | 4569 |
| Regatta VIII Funding Ltd. | Series 2017-1A, Class ER | (4) (5) (7) | SOFR + 700 | 11.32% | 4/17/2037 | 5560 | 5560 | 5560 | 5591 |
| Regatta XXIII Funding Ltd. | Series 2021-4A, Class E | (4) (5) (7) | SOFR + 670 | 11.29% | 1/20/2035 | 5000 | 5000 | 4844 | 5019 |
| Regatta XXV Funding Ltd. | Series 2023-1A, Class ER | (4) (5) (7) (13) | SOFR + 575 | 10.08% | 7/15/2038 | 6250 | 6250 | 6250 | 6308 |
| Regatta XXVI Funding Ltd. | Series 2023-2A, Class E | (4) (5) (7) | SOFR + 790 | 12.22% | 1/25/2037 | 6000 | 6000 | 5893 | 6069 |
| Regatta XXVIII Funding Ltd. | Series 2024-2A, Class E | (4) (5) (7) | SOFR + 685 | 11.17% | 4/25/2037 | 5000 | 5000 | 5000 | 5047 |
| Rockford Tower CLO Ltd. | Series 2023-1A, Class D | (4) (5) (7) | SOFR + 532 | 9.59% | 1/20/2036 | 4300 | 4300 | 4263 | 4300 |
| RR Ltd. | Series 2022-24A, Class DR2 | (4) (5) (7) | SOFR + 550 | 9.82% | 1/15/2037 | 4760 | 4760 | 4760 | 4779 |
| RRE 6 Loan Management DAC | Series 6A, Class DR | (4) (5) (7) | EURIBOR + 515 | 7.18% | 10/15/2038 | € | 1200 | 1402 | 1404 |
| Silver Point CLO 1 Ltd. | Series 2022-1A, Class ER | (4) (5) (7) | SOFR + 525 | 9.58% | 1/20/2038 | 1363 | 1363 | 1380 | 1359 |
| Silver Point CLO 11 Ltd. | Series 2024-7A, Class E | (4) (5) (7) | SOFR + 565 | 9.93% | 7/15/2028 | 8500 | 8500 | 8500 | 8603 |
| Silver Point CLO 7 Ltd. | Series 2024-7A, Class E | (4) (5) (7) | SOFR + 575 | 10.07% | 1/15/2038 | 3600 | 3600 | 3600 | 3628 |
| Sixth Street CLO IX Ltd. | Series 2017-9A, Class ER | (4) (5) (7) | SOFR + 625 | 10.58% | 7/31/2037 | 6250 | 6250 | 6250 | 6297 |
| Sixth Street CLO XV Ltd. | Series 2020-15A, Class ER | (4) (5) (7) | SOFR + 605 | 10.37% | 10/24/2027 | 5000 | 5000 | 5000 | 5049 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Investments—Collateralized Loan Obligations (18.7% of Net Assets)** | **Footnotes** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Sixth Street CLO XVII Ltd. | Series 2021-17A, Class ER | (4) (5) (7) | SOFR + 475 | 9.07% | 4/17/2038 | 3000 | 2991 | 3013 |
| Sixth Street CLO XXIII Ltd. | Series 2023-23A, Class E | (4) (5) (7) | SOFR + 705 | 11.37% | 10/23/2036 | 4000 | 4000 | 4025 |
| Sixth Street CLO XXV Ltd. | Series 2024-25A, Class SUB | (4) (5) (7) (12) |  |  | 7/24/2037 | 15000 | 11914 | 10643 |
| Sound Point CLO 35 Ltd. | Series 2022-35A, Class ER | (4) (5) (7) | SOFR + 580 | 10.11% | 4/26/2038 | 1670 | 1670 | 1674 |
| Sound Point CLO 37 Ltd. | Series 2023-37A, Class D | (4) (5) (7) | SOFR + 555 | 9.86% | 1/29/2037 | 4800 | 4800 | 4860 |
| Sound Point CLO Ltd. | Series 2021-1A, Class E | (4) (5) (7) (13) | SOFR + 685 | 11.43% | 4/25/2034 | 4000 | 3943 | 3814 |
| Symphony CLO XXXIII Ltd. | Series 2022-33A, Class E1R | (4) (5) (7) | SOFR + 535 | 9.67% | 1/24/2038 | 5000 | 5000 | 4837 |
| TICP CLO XI Ltd. | Series 2018-11A, Class ER | (4) (5) (7) | SOFR + 670 | 11.02% | 4/25/2037 | 4700 | 4700 | 4755 |
| TICP CLO XII Ltd. | Series 2018-12A, Class ER | (4) (5) (7) | SOFR + 625 | 10.83% | 7/15/2034 | 988 | 988 | 991 |
| Trimaran CAVU 2022-1 Ltd. | Series 2022-1A, Class ER | (4) (5) (7) (13) | SOFR + 692 | 11.25% | 10/22/2037 | 6250 | 6221 | 6316 |
| Trinitas Euro CLO V DAC | Series 5A, Class ER | (4) (5) (7) | EURIBOR + 580 | 7.80% | 7/25/2039 | 2500 | 2944 | 2944 |
| Trinitas Euro CLO X DAC | Series 10A, Class E | (4) (5) (7) | EURIBOR + 505 | 7.08% | 11/15/2038 | 4980 | 5906 | 5847 |
| Twin Brook CLO 2024-1 LLC | Series 2024-1A, Class D | (4) (5) (7) | SOFR + 495 | 9.28% | 7/20/2036 | 6500 | 6500 | 6529 |
| Venture CLO Ltd. | Series 2022-45A, Class E | (4) (5) (7) | SOFR + 770 | 12.03% | 7/20/2035 | 10000 | 9802 | 7964 |
| Voya CLO 2020-3, Ltd. | Series 2020-3A, Class SUB | (4) (5) (7) |  |  | 1/20/2038 | 7900 | 5071 | 4794 |
| Voya CLO 2021-2, Ltd. | Series 2021-2A, Class ER | (4) (5) (7) (12) | SOFR + 485 | 9.18% | 4/20/2038 | 1000 | 1000 | 1001 |
| Voya CLO 2022-4, Ltd. | Series 2024-4A, Class ER | (4) (5) (7) | SOFR + 670 | 11.03% | 4/20/2037 | 3105 | 3105 | 3153 |
| Voya CLO 2024-2, Ltd. | Series 2024-2A, Class SUB | (4) (5) (7) (12) |  |  | 7/20/2037 | 10650 | 8941 | 7986 |
| Voya Euro CLO IX DAC | Series 9A, Class E | (4) (5) (7) | EURIBOR + 560 | 7.52% | 10/15/2038 | 2250 | 2642 | 2653 |
| Voya Euro CLO V DAC | Series 5X, Class E | (4) (5) (16) | EURIBOR + 581 | 7.84% | 4/15/2035 | 1416 | 1380 | 1668 |
| Voya Euro CLO VI DAC | Series 6A, Class ER | (4) (5) (7) | EURIBOR + 679 | 8.82% | 4/15/2038 | 2500 | 2677 | 2954 |
| Voya Euro CLO VIII DAC | Series 8X, Class E | (4) (5) (16) | EURIBOR + 585 | 7.88% | 1/15/2039 | 7970 | 8442 | 9448 |
| Wellington Management CLO 1 Ltd. | Series 2023-1A, Class D | (4) (5) (7) | SOFR + 485 | 9.18% | 10/20/2036 | 3150 | 3150 | 3155 |
| Wellman Park CLO Ltd. | Series 2021-1A, Class ER | (4) (5) (7) | SOFR + 630 | 10.62% | 7/15/2037 | 6000 | 6000 | 6012 |
| Collateralized Loan Obligations Total | Collateralized Loan Obligations Total | Collateralized Loan Obligations Total |  |  |  |  | $875670 | $861854 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Asset-Backed Securities (5.7% of Net Assets)** | **Investments—Asset-Backed Securities (5.7% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Adams Outdoor Advertising LP | Series 2023-1, Class C | (5) (7) | Media: Advertising, Printing & Publishing | 11.71% | 11.71% | 7/15/2053 | $10000 | $10000 | $10559 |
| Affirm Asset Securitization Trust 2024-X1 | Series 2024-X1, Class CERT | (4) (5) (7) (19) | Diversified Investment Vehicles |  |  | 5/15/2029 | 109 |  | 1143 |
| CSS HIL 2024-1 Trust | Class A | (5) | Diversified Investment Vehicles | 7.00% | 7.00% | 4/20/2050 | 15554 | 15468 | 15814 |
| CSS HIL 2024-1 Trust | Class B | (5) | Diversified Investment Vehicles | 7.75% | 7.75% | 4/20/2050 | 2804 | 2736 | 2884 |
| CSS HIL 2024-1 Trust | Class C | (5) | Diversified Investment Vehicles | 7.75% | 7.75% | 4/20/2050 | 5318 | 4861 | 5134 |
| CSS HIL 2024-1 Trust | Class D | (5) | Diversified Investment Vehicles | 7.75% | 7.75% | 4/20/2050 | 1741 | 1325 | 1418 |
| CSS HIL 2024-1 Trust | Class E | (4) (5) (19) | Diversified Investment Vehicles |  |  | 4/20/2050 | 2759 | 3000 | 2132 |
| CSS PL 2023-1 Trust | Series 2023-1, Class SUBI 1 | (4) (5) (19) | Diversified Investment Vehicles |  |  |  | 9531 | 3030 | 2612 |
| CSS PL 2023-1 Trust | Series 2023-1, Class SUBI 2 | (4) (5) (19) | Diversified Investment Vehicles |  |  |  | 15238 | 6502 | 6435 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Asset-Backed Securities (5.7% of Net Assets)** | **Investments—Asset-Backed Securities (5.7% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Craft Ltd. | Series 2023-IA, Class CLN | (4) (5) (7) | Diversified Investment Vehicles | SOFR + 1175 | 15.99% | 11/28/2032 | 2000 | 2000 | 2085 |
| Guggenheim Investments Private Debt Fund IV Rated Note Feeder, LLC | Class A1 | (4) (5) (6) | Diversified Investment Vehicles | SOFR + 300 | 7.05% | 4/10/2038 | 5924 | 5924 | 5924 |
| Guggenheim Investments Private Debt Fund IV Rated Note Feeder, LLC | Class B1 | (4) (5) (6) | Diversified Investment Vehicles | SOFR + 500 | 9.05% | 4/10/2038 | 1975 | 1975 | 1980 |
| Guggenheim Investments Private Debt Fund IV Rated Note Feeder, LLC | Class D | (4) (5) (6) | Diversified Investment Vehicles | SOFR + 854 | 12.59% | 4/10/2038 | 7899 | 7708 | 7502 |
| L Catterton Direct Lending Fund Rated Feeder LP | Class A | (4) (5) (6) | Diversified Investment Vehicles | SOFR + 325 | 7.57% | 1/15/2028 | 3819 | 3819 | 3754 |
| L Catterton Direct Lending Fund Rated Feeder LP | Class B | (4) (5) (6) | Diversified Investment Vehicles | SOFR + 500 | 9.32% | 1/15/2028 | 2091 | 2091 | 2031 |
| L Catterton Direct Lending Fund Rated Feeder LP | Class C | (4) (5) (6) | Diversified Investment Vehicles | SOFR + 800 | 12.32% | 1/15/2028 | 1182 | 1182 | 1169 |
| Mercury Financial Credit Card Master Trust | Series 2024-IA, Class B | (5) (7) | Diversified Investment Vehicles | 8.46% | 8.46% | 2/20/2029 | 15572 | 15570 | 15617 |
| Mercury Financial Credit Card Master Trust | Series 2024-IA, Class D | (5) (7) | Diversified Investment Vehicles | 14.80% | 14.80% | 2/20/2029 | 14428 | 14427 | 14441 |
| MNR ABS Issuer I, LLC | Series 2023-1, Class A-1 | (5) (7) | Energy: Oil & Gas | 8.12% | 8.12% | 12/15/2038 | 5796 | 5796 | 5912 |
| MNR ABS Issuer I, LLC | Series 2023-1, Class A-2 | (5) (7) | Energy: Oil & Gas | 8.95% | 8.95% | 12/15/2038 | 8313 | 8313 | 8687 |
| MNR ABS Issuer I, LLC | Series 2023-1, Class B | (5) (7) | Energy: Oil & Gas | 12.44% | 12.44% | 12/15/2038 | 6237 | 6237 | 6378 |
| Monroe Capital CFO I Ltd. | Class A | (4) (5) | Diversified Investment Vehicles | SOFR + 425 | 8.45% | 5/15/2039 | 48020 | 48020 | 48020 |
| SMB Private Education Loan Trust 2024-A | Series 2024-A, Class R | (4) (5) (7) (19) | Diversified Investment Vehicles |  |  | 3/15/2056 | 52 | 51358 | 39427 |
| SoFi Consumer Loan Program 2025-1 Trust | Series 2025-1, Class R1 | (4) (5) (7) (19) | Diversified Investment Vehicles |  |  | 2/27/2034 | 124 | 10860 | 10715 |
| Thoma Bravo Credit Asset Funding ABS, LLC | Series 2023-1A, Class BR | (5) (7) | Software | 7.06% | 7.06% | 11/22/2033 | 5053 | 5052 | 5078 |
| Thoma Bravo Credit Asset Funding ABS, LLC | Series 2023-1A, Class CR | (5) (7) | Software | 8.41% | 8.41% | 11/22/2033 | 5003 | 5003 | 5005 |
| Thoma Bravo Credit Asset Funding ABS, LLC | Series 2023-1A, Class DR | (5) (7) | Software | 10.51% | 10.51% | 11/22/2033 | 3242 | 3242 | 3249 |
| VCP RRL ABS III LLC | Series 2024-1A, Class B | (4) (5) (7) | Diversified Investment Vehicles | SOFR + 320 | 7.48% | 4/20/2034 | 6759 | 6759 | 6770 |
| VCP RRL ABS III LLC | Series 2024-1A, Class C | (4) (5) (7) | Diversified Investment Vehicles | SOFR + 550 | 9.78% | 4/20/2034 | 15221 | 15221 | 15285 |
| VCP RRL ABS III LLC | Series 2024-1A, Class D | (4) (5) (7) | Diversified Investment Vehicles | SOFR + 700 | 11.28% | 4/20/2034 | 8414 | 8414 | 8349 |
| Asset-Backed Securities Total | Asset-Backed Securities Total | Asset-Backed Securities Total |  |  |  |  |  | $275893 | $265509 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Common Stock (1.5% of Net Assets)** | **Footnotes** | **Industry** | **Acquisition Date** | **Units / Shares** | **Cost** | **Fair Value** |
| 48forty Intermediate Holdings, Inc. | (5) (9) (10) | Transportation | 11/5/2024 | 3 | $— | $— |
| Aimbridge Acquisition Co., Inc. | (2) (3) (5) (9) (10) | Hotels, Restaurants & Leisure | 3/11/2025 | 4 | 211 | 209 |
| Align Precision Group, LLC | (5) (9) (10) | Aerospace & Defense | 7/3/2025 | 3 | 1761 | 1635 |
| Ampersand Partners AIV Investors, LLC | (5) (9) (10) | Financial Services | 7/9/2025 | 14 | 212 | 212 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Common Stock (1.5% of Net Assets)** | **Footnotes** | **Industry** | **Acquisition Date** | **Units / Shares** | **Cost** | **Fair Value** |
| Apex Group Ltd. | (2) (3) (5) (9) (10) | Financial Services | 5/11/2022 |  | 250 | 323 |
| Buckeye Group Holdings, L.P. | (5) (9) (10) | Automotives | 12/31/2024 | 9427 |  |  |
| Buckeye Group Holdings, L.P. | (5) (9) (10) | Automotives | 12/31/2024 | 5123 |  |  |
| Cobham Ultra 1 CY S.C.A. | (5) (9) (10) | Electronic Equipment, Instruments & Components | 7/29/2022 | 2831 | 28 | 54 |
| Cobham Ultra S.a.r.l. | (5) (9) (10) | Electronic Equipment, Instruments & Components | 7/29/2022 | 8 | 9 | 20 |
| CSS PL 2024-1 Trust | (5) (10) (19) | Diversified Investment Vehicles | 2/28/2025 | 1130 |  | 679 |
| Dwyer Instruments, Inc. | (5) (9) (10) | Electronic Equipment, Instruments & Components | 7/21/2021 | 5 | 52 | 132 |
| FPG Parent, LLC | (5) (9) (10) | Consumer Services | 7/25/2025 |  | 6 | 6 |
| KRE HYOD Owner, LLC | (5) (9) (10) | Real Estate Management & Development | 9/22/2021 | 124 | 133 | 116 |
| L Catterton Direct Lending Fund Rated Feeder LP | (5) (10) (19) | Diversified Investment Vehicles | 3/7/2025 | 270 |  | 271 |
| Material Holdings, LLC | (5) (9) (10) | Professional Services | 6/14/2024 | 3 |  |  |
| NearU Holdings LLC | (5) (9) (10) | Consumer Services | 8/4/2022 | 10 | 988 | 225 |
| Primetech Holdco S.a.r.l. | (5) (9) (10) | Insurance | 7/28/2022 |  | 1957 | 2209 |
| PXO Holdings I Corp. | (5) (9) (10) | Chemicals, Plastics & Rubber | 3/8/2022 | 5 | 523 | 390 |
| Santiago Holdings, LP | (4) (5) (6) (10) (19) | Diversified Investment Vehicles | 9/6/2024 | 74819 | 54038 | 59497 |
| Sinch AB | (9) (10) | High Tech Industries | 2/25/2022 | 5 |  | 17 |
| Tank Holding Corp. | (5) (9) (10) | Capital Equipment | 3/26/2019 | 200 |  | 645 |
| Tufin Software North America, Inc. | (5) (9) (10) | Software | 8/25/2022 | 679 | 971 | $1299 |
| Wineshipping.com, LLC | (5) (9) (10) | Beverage, Food & Tobacco | 8/25/2022 | 1 | 55 | $— |
| WP Summit Co-Invest, L.P. | (5) (9) (10) | Insurance | 4/27/2023 | 152 | 74 | $220 |
| Common Stock Total | Common Stock Total |  |  |  | $61268 | $68159 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Bonds (7.6% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| **Secured (5.9% of Net Assets)** | | | | | | | | |
| Air Canada Pass Through Trust | (2) (3) (7) | Aerospace & Defense | 9.00% | 9.00% | 10/1/2025 | $365 | $365 | $364 |
| Apex Structured Holdings Ltd. | (2) (3) (5) (8) | Financial Services | 13.00% PIK | 13.00% | 7/19/2054 | 1921 | 2235 | 2250 |
| Apex Structured Holdings Ltd. | (5) (8) | Financial Services | 13.00% PIK | 13.00% | 7/19/2054 | 19520 | 19171 | 19471 |
| Apex Structured Holdings Ltd. | (2) (3) (5) (8) | Financial Services | 13.00% PIK | 13.00% | 7/19/2054 | 9801 | 9599 | 9777 |
| Apex Structured Holdings Ltd. | (2) (3) (5) (8) | Financial Services | 13.00% PIK | 13.00% | 7/19/2054 | 864 | 1006 | 1012 |
| Apex Structured Holdings Ltd. | (2) (3) (5) (8) | Financial Services | 13.00% PIK | 13.00% | 7/19/2054 | 6754 | 7794 | 7910 |
| Athena S.p.A. | (5) | Entertainment | 8.00% | 8.00% | 4/12/2027 | 23871 | 25099 | 28026 |
| Birsa S.p.A. | (4) (5) (6) | Health Care Providers & Services | EURIBOR + 525 | 7.23% | 6/30/2031 | 4758 | 5280 | 5363 |
| Birsa S.p.A. | (4) (5) | Health Care Providers & Services | EURIBOR + 525 | 7.23% | 6/30/2031 | 7931 | 8328 | 9172 |
| British Airways Pass Through Trust | (2) (3) (7) | Aerospace & Defense | 8.38% | 8.38% | 11/15/2028 | 272 | 272 | 286 |
| Cartiere Villa Lagarina S.p.A. | (4) (5) (8) (15) | Containers, Packaging & Glass | EURIBOR + 600, 5.50% PIK | 13.53% | 12/22/2025 | 2813 | 3363 | 2312 |
| Cartitalia S.p.A. | (4) (5) (8) (15) | Containers, Packaging & Glass | EURIBOR + 600, 5.50% PIK | 13.53% | 12/22/2025 | 2278 | 2718 | 1872 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Corporate Bonds (7.6% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Maturity Date** | **Par / Principal Amount \*** | **Amortized Cost** | **Fair Value** |
| Cloud Software Group, Inc. | (7) | Software | 9.00% | 9.00% | 9/30/2029 | 11329 | 9625 | 11750 |
| Cobham Ultra PikCo S.a.r.l. | (2) (3) (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 825 | 12.44% | 8/4/2031 | 16071 | 15880 | 16112 |
| Cobham Ultra SunCo S.a.r.l. | (2) (3) (4) (5) (14) | Electronic Equipment, Instruments & Components | SOFR + 725 | 11.44% | 8/4/2030 | 9303 | 9148 | 9303 |
| Cornerstone Building Brands, Inc. | (2) (3) (7) | Building Products | 9.50% | 9.50% | 8/15/2029 | 4000 | 4000 | 3880 |
| Fideicomiso Fiduoccidente - Acciones TCBuen | (5) | Real Estate Management & Development | 9.45% | 9.45% | 12/30/2029 | 11000 | 10930 | 11138 |
| GPC CAR Issuer, LLC | (5) | Independent Power and Renewable Electricity Producers | 9.75% | 9.75% | 12/31/2031 | 2457 | 2430 | 2421 |
| GREC II CWF LLC | (2) (3) (5) | Independent Power and Renewable Electricity Producers | 8.25% | 8.25% | 7/24/2028 | 8820 | 8752 | 8820 |
| Helios Software Holdings, Inc. | (7) | Financial Services | 8.75% | 8.75% | 5/1/2029 | 5000 | 5000 | 5174 |
| Holding Argon | (4) (5) (6) | Business Services | EURIBOR + 575 | 7.95% | 4/16/2032 | 758 | 718 | 742 |
| Holding Argon | (4) (5) | Business Services | EURIBOR + 575 | 7.96% | 4/16/2032 | 5054 | 5592 | 5786 |
| Holding Argon | (4) (5) | Business Services | EURIBOR + 575 | 7.96% | 4/16/2032 | 27799 | 30757 | 31821 |
| ION Trading Technologies S.a.r.l. | (2) (3) (7) | Capital Markets | 5.75% | 5.75% | 5/15/2028 | 3000 | 2671 | 2942 |
| ION Trading Technologies S.a.r.l. | (2) (3) (7) | Capital Markets | 9.50% | 9.50% | 5/30/2029 | 10000 | 10000 | 10563 |
| NPA 2023 Holdco, LLC | (2) (3) (5) | Independent Power and Renewable Electricity Producers | 8.75% | 8.75% | 10/10/2028 | 58581 | 58065 | 57993 |
| Rackspace Technology Global, Inc. | (2) (3) (7) | Software | 5.38% | 5.38% | 12/1/2028 | 2000 | 1821 | 519 |
| Tolentino S.p.A. | (4) (5) (8) (15) | Containers, Packaging & Glass | EURIBOR + 600, 5.50% PIK | 13.53% | 12/22/2025 | 1055 | 1261 | 867 |
| Zayo Group Holdings, Inc. | (2) (3) (7) | Telecommunications | 4.00% | 4.00% | 3/1/2027 | 3659 | 3609 | 3609 |
| *Secured Total* |  |  |  |  |  |  | $265489 | $271255 |
| **Unsecured (1.7% of Net Assets)** |  |  |  |  |  |  |  |  |
| Aretec Group, Inc. | (2) (3) (7) | Capital Markets | 7.50% | 7.50% | 4/1/2029 | $9140 | $9207 | $9180 |
| Covanta Holding Corp. | (2) (3) (7) | Environmental Industries | 4.88% | 4.88% | 12/1/2029 | 3000 | 2728 | 2825 |
| Monroe Capital Income Plus Corporation | (5) | Diversified Investment Vehicles | 9.42% | 9.42% | 11/15/2028 | 16800 | 16800 | 17640 |
| Monroe Capital Income Plus Corporation | (5) | Diversified Investment Vehicles | 9.42% | 9.42% | 12/13/2028 | 15700 | 15700 | 16485 |
| OnePoint SAS | (4) (5) (6) (8) | IT Services | EURIBOR + 9.00% PIK | 10.98% | 11/3/2031 | 20707 | 21947 | 24053 |
| OnePoint SAS | (4) (5) (8) | IT Services | EURIBOR + 9.00% PIK | 10.98% | 11/3/2031 | 7629 | 8146 | 8890 |
| *Unsecured Total* |  |  |  |  |  |  | $74528 | $79073 |
| Corporate Bonds Total | Corporate Bonds Total |  |  |  |  |  | $340017 | $350328 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Preferred Stock (5.0% of Net Assets)** | **Investments—Preferred Stock (5.0% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Acquisition Date** | **Units / Shares** | **Cost** | **Fair Value** |
| Arrowhead GS Holdings, Inc. | Series A | (5) (9) (10) | Trading Companies & Distributors |  |  | 10/19/2022 | 10 | $9458 | $4333 |
| Blackbird Purchaser, Inc. |  | (5) (8) (10) | Capital Equipment | 12.50% PIK | 12.50% | 12/14/2021 | 21 | 20283 | 20219 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Preferred Stock (5.0% of Net Assets)** | **Investments—Preferred Stock (5.0% of Net Assets)** | **Footnotes** | **Industry** | **Reference Rate & Spread** | **Interest Rate** | **Acquisition Date** | **Units / Shares** | **Cost** | **Fair Value** |
| Buckeye Group Holdings, L.P. | Class A-2 | (5) (9) (10) | Automotives |  |  | 12/31/2024 | 5123 | 1523 | 414 |
| Drilling Info Holdings, Inc. | Series B | (5) (8) (10) | Software | 13.50% PIK | 13.50% | 2/11/2020 | 313 | 652 | 661 |
| HIG Intermediate, Inc. | Series A | (5) (10) | Insurance | 10.50% | 10.50% | 12/10/2024 | 34 | 33807 | 33909 |
| Integrity Marketing Acquisition, LLC |  | (5) (8) (10) | Financial Services | 10.50% PIK | 10.50% | 12/21/2021 | 11092 | 10942 | 10841 |
| NearU Holdings LLC |  | (5) (8) (10) | Consumer Services | 20.00% PIK | 20.00% | 8/9/2024 | 1 | 67 | 80 |
| NEFCO Holding Company, LLC | Series A2 | (5) (8) (10) | Building Products | 8.00% PIK | 8.00% | 8/5/2022 |  | 304 | 304 |
| PCF Holdco, LLC |  | (5) (8) (10) (14) | Insurance | 15.00% PIK | 15.00% | 2/16/2023 | 14 | 13172 | 14344 |
| Project Carbo S.a.r.l. |  | (5) (8) (10) | IT Services | 14.17% PIK | 14.17% | 1/27/2025 | 53638 | 60909 | 68029 |
| Project Roller S.a.r.l. |  | (5) (8) (10) | Health Care Providers & Services | 13.20% PIK | 13.20% | 3/24/2025 | 34208 | 36952 | 40162 |
| Project Tiger S.a.r.l. |  | (5) (8) (10) | Professional Services | 12.50% PIK | 12.50% | 3/18/2025 | 7752 | 8486 | 9101 |
| Zippy Shell Incorporated | Series A4 | (5) (6) (8) (10) | Commercial Services & Supplies | 13.04% PIK | 13.04% | 5/3/2024 | 432 | 27911 | 28294 |
| Preferred Stock Total | Preferred Stock Total | Preferred Stock Total |  |  |  |  |  | $224466 | $230691 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments—Warrant (0.3% of Net Assets)** | **Footnotes** | **Industry** | **Acquisition Date** | **Expiration Date** | **Units / Shares / % of Ownership** | **Cost** | **Fair Value** |
| CP Developer S.a.r.l. | (5) (9) (10) | Real Estate Management & Development | 5/21/2021 | 5/24/2031 | 9.5% | $2093 | $1426 |
| iRobot Corporation | (2) (3) (5) (9) (10) | Consumer Goods: Durable | 3/12/2025 | 3/11/2035 | 500 |  | 130 |
| Jordanes Equity AS | (5) (9) (10) | Beverage, Food & Tobacco | 12/27/2024 | 12/27/2031 | 156 | 1998 | 2143 |
| Orifarm Holding AS | (5) (9) (10) | Health Care Providers & Services | 11/29/2024 | 11/29/2031 | 5852 | 6183 | 7281 |
| PCF Holdco, LLC | (5) (9) (10) | Insurance | 2/16/2023 | 2/16/2033 | 387 | 215 | 190 |
| PCF Holdco, LLC | (5) (9) (10) | Insurance | 2/16/2023 | 2/16/2033 | 387 | 814 | 1382 |
| Zippy Shell Incorporated | (5) (9) (10) | Commercial Services & Supplies | 5/3/2024 | 5/3/2034 | 23 | 432 | 432 |
| Warrant Total |  |  |  |  |  | $11735 | $12984 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments—Money Market Funds (6.7% of Net Assets)** | **Reference Rate & Spread** | **Interest Rate** | **Units / Shares** | **Cost** | **Fair Value** |
| Fidelity Investments Money Market Government Portfolio | 4.09% | 4.09% | 309345 | $309345 | $309345 |
| Money Market Funds Total |  |  |  | $309345 | $309345 |
| **Total Investments, at Fair Value (1)** |  |  | 139.9% | $6437308 | $6460388 |
| **Net Other Assets (Liabilities)** |  |  | (39.9)% |  | $(1842270) |
| **Net Assets** |  |  | **100.0%** |  | $**4618118** |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps as of September 30, 2025** | **Interest Rate Swaps as of September 30, 2025** | **Interest Rate Swaps as of September 30, 2025** | **Interest Rate Swaps as of September 30, 2025** | **Interest Rate Swaps as of September 30, 2025** | **Interest Rate Swaps as of September 30, 2025** | **Interest Rate Swaps as of September 30, 2025** | **Interest Rate Swaps as of September 30, 2025** | **Interest Rate Swaps as of September 30, 2025** |
| **Counterparty** | **Hedged Instrument** | **Footnotes** | **Fund Receives** | **Fund Pays** | **Maturity Date** | **Notional Amount** | **Fair Value** | **Change in Unrealized Gain / (Loss)** |
| Macquarie Bank Limited | Series A MRP Shares | (17) | 3.55% | SOFR | 3/8/2027 | $75000 | $35 | $873 |
| Macquarie Bank Limited | Series B MRP Shares | (17) | 3.29% | SOFR | 3/7/2029 | 25000 | (63) | 674 |
| Macquarie Bank Limited | Series C MRP Shares | (17) | 2.79% | SOFR | 9/1/2027 | 75000 | (884) | 1546 |
| Macquarie Bank Limited | Series C MRP Shares | (17) | 4.07% | SOFR | 9/1/2027 | 25000 | 290 | 305 |
| Goldman Sachs & Co. LLC | Series F MRP Shares | (17) | 4.36% | SOFR | 11/16/2027 | 50000 | 956 | 589 |
| Goldman Sachs & Co. LLC | Series G MRP Shares | (17) | 4.27% | SOFR | 9/17/2029 | 100000 | 3237 | 2389 |
| Goldman Sachs & Co. LLC | Series H MRP Shares | (17) | 4.21% | SOFR | 9/16/2031 | 100000 | 3968 | 3191 |
| Goldman Sachs & Co. LLC | Series I MRP Shares | (17) | 3.76% | SOFR | 9/9/2030 | 100000 | 1494 | 1494 |
| Goldman Sachs & Co. LLC | Series J MRP Shares | (17) | 3.81% | SOFR | 9/8/2032 | 100000 | 1731 | 1731 |
| Goldman Sachs & Co. LLC | Series K MRP Shares | (17) | 3.89% | SOFR | 4/2/2035 | 100000 | 1798 | 1798 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total |  |  |  |  |  | $750000 | $12562 | $14590 |
| Cash Collateral Pledged / (Received) | Cash Collateral Pledged / (Received) | (18) |  |  |  |  |  |  |
| **Total Interest Rate Swaps** |  |  |  |  |  | $750000 | $12562 | $14590 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** |
| | | **Amount to be Purchased** | **Amount to be Purchased** | **Amount to be Sold** | **Amount to be Sold** | | **Change in Unrealized Appreciation / (Depreciation)** |
|<br>**Counterparty** |<br>**Settlement Date** | **Currency** | **Notional** | **Currency** | **Notional** |<br>**Fair Value** | **Change in Unrealized Appreciation / (Depreciation)** |
| Macquarie Bank Limited | 10/2/2025 | USD | 11 | CAD | 16 | $0 | $0 |
| Macquarie Bank Limited | 10/6/2025 | USD | 780 | EUR | 739 | (87) | (87) |
| Goldman Sachs & Co. LLC | 10/6/2025 | USD | 129 | EUR | 113 | (3) | (3) |
| Goldman Sachs & Co. LLC | 10/6/2025 | USD | 140 | GBP | 103 | 1 | 1 |
| Macquarie Bank Limited | 10/7/2025 | USD | 49432 | EUR | 42050 | 43 | 43 |
| Macquarie Bank Limited | 10/9/2025 | USD | 256 | EUR | 233 | (18) | (18) |
| Goldman Sachs & Co. LLC | 10/14/2025 | USD | 187 | EUR | 171 | (14) | (21) |
| Macquarie Bank Limited | 10/14/2025 | USD | 106 | EUR | 89 | 1 | 1 |
| Macquarie Bank Limited | 10/27/2025 | USD | 1531 | EUR | 1362 | (70) | (70) |
| Macquarie Bank Limited | 10/27/2025 | USD | 17 | EUR | 14 | 0 | 0 |
| Goldman Sachs & Co. LLC | 11/4/2025 | USD | 1024 | GBP | 791 | (40) | (76) |
| Macquarie Bank Limited | 11/4/2025 | USD | 807 | EUR | 733 | (55) | (90) |
| Macquarie Bank Limited | 11/4/2025 | USD | 133 | EUR | 125 | (14) | (15) |
| Goldman Sachs & Co. LLC | 11/4/2025 | USD | 54 | GBP | 43 | (4) | (4) |
| Macquarie Bank Limited | 11/4/2025 | USD | 40 | EUR | 38 | (5) | (5) |
| Macquarie Bank Limited | 11/4/2025 | USD | 174 | GBP | 133 | (5) | (5) |
| Goldman Sachs & Co. LLC | 11/4/2025 | USD | 928 | GBP | 700 | (13) | (13) |
| Macquarie Bank Limited | 11/5/2025 | USD | 355 | CAD | 483 | 8 | (8) |
| Goldman Sachs & Co. LLC | 11/12/2025 | GBP | 59 | USD | 78 | 1 | 1 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** |
| | | **Amount to be Purchased** | **Amount to be Purchased** | **Amount to be Sold** | **Amount to be Sold** | | **Change in Unrealized Appreciation / (Depreciation)** |
|<br>**Counterparty** |<br>**Settlement Date** | **Currency** | **Notional** | **Currency** | **Notional** |<br>**Fair Value** | **Change in Unrealized Appreciation / (Depreciation)** |
| Goldman Sachs & Co. LLC | 11/12/2025 | USD | 337 | GBP | 258 | (10) | (10) |
| Goldman Sachs & Co. LLC | 11/12/2025 | USD | 47 | GBP | 35 | 0 | 0 |
| Macquarie Bank Limited | 11/14/2025 | USD | 525 | EUR | 475 | (34) | (58) |
| Goldman Sachs & Co. LLC | 11/14/2025 | USD | 1059 | GBP | 831 | (58) | (80) |
| Macquarie Bank Limited | 11/14/2025 | USD | 17 | EUR | 15 | 0 | 0 |
| Goldman Sachs & Co. LLC | 11/19/2025 | USD | 88601 | GBP | 65548 | 432 | 431 |
| Macquarie Bank Limited | 11/19/2025 | USD | 31179 | GBP | 23061 | 160 | 159 |
| Goldman Sachs & Co. LLC | 11/19/2025 | USD | 37873 | EUR | 32301 | (161) | (162) |
| Macquarie Bank Limited | 11/19/2025 | USD | 64641 | EUR | 55088 | (226) | (227) |
| Macquarie Bank Limited | 11/19/2025 | USD | 4716 | EUR | 4000 | 7 | 6 |
| Goldman Sachs & Co. LLC | 11/19/2025 | USD | 4641 | GBP | 3429 | 29 | 28 |
| Goldman Sachs & Co. LLC | 11/19/2025 | USD | 32095 | EUR | 27331 | (87) | (88) |
| Macquarie Bank Limited | 11/19/2025 | USD | 3577 | EUR | 3032 | 7 | 7 |
| Macquarie Bank Limited | 11/19/2025 | USD | 3861 | EUR | 3250 | 34 | 34 |
| Macquarie Bank Limited | 11/19/2025 | USD | 2947 | EUR | 2500 | 3 | 3 |
| Goldman Sachs & Co. LLC | 11/19/2025 | USD | 6786 | GBP | 5045 | 0 | 0 |
| Macquarie Bank Limited | 11/28/2025 | USD | 650 | GBP | 514 | (41) | (49) |
| Macquarie Bank Limited | 11/28/2025 | USD | 128 | GBP | 95 | 0 | 0 |
| Macquarie Bank Limited | 12/5/2025 | USD | 106 | EUR | 99 | (11) | (12) |
| Macquarie Bank Limited | 12/5/2025 | USD | 200 | GBP | 159 | (14) | (15) |
| Goldman Sachs & Co. LLC | 12/9/2025 | USD | 556 | EUR | 489 | (21) | (21) |
| Macquarie Bank Limited | 1/2/2026 | USD | 11 | CAD | 15 | 0 | 0 |
| Macquarie Bank Limited | 1/5/2026 | USD | 774 | EUR | 730 | (87) | (87) |
| Goldman Sachs & Co. LLC | 1/5/2026 | USD | 126 | EUR | 110 | (3) | (3) |
| Macquarie Bank Limited | 1/5/2026 | USD | 354 | EUR | 304 | (4) | (4) |
| Goldman Sachs & Co. LLC | 1/5/2026 | USD | 56 | EUR | 47 | 0 | 0 |
| Goldman Sachs & Co. LLC | 1/6/2026 | USD | 141 | GBP | 104 | 1 | 1 |
| Macquarie Bank Limited | 1/8/2026 | USD | 16869 | EUR | 15182 | (1057) | (1867) |
| Macquarie Bank Limited | 1/9/2026 | USD | 250 | EUR | 226 | (18) | (18) |
| Macquarie Bank Limited | 1/9/2026 | USD | 35 | EUR | 30 | 0 | 0 |
| Goldman Sachs & Co. LLC | 1/14/2026 | USD | 184 | EUR | 168 | (14) | (21) |
| Macquarie Bank Limited | 1/14/2026 | USD | 114 | EUR | 96 | 1 | 1 |
| Macquarie Bank Limited | 1/27/2026 | USD | 735 | EUR | 651 | (34) | (34) |
| Macquarie Bank Limited | 1/27/2026 | USD | 17 | EUR | 15 | 0 | 0 |
| Macquarie Bank Limited | 2/3/2026 | USD | 807 | EUR | 729 | (55) | (90) |
| Goldman Sachs & Co. LLC | 2/3/2026 | USD | 1016 | GBP | 784 | (39) | (75) |
| Macquarie Bank Limited | 2/3/2026 | USD | 130 | EUR | 122 | (13) | (15) |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** |
| | | **Amount to be Purchased** | **Amount to be Purchased** | **Amount to be Sold** | **Amount to be Sold** | | **Change in Unrealized Appreciation / (Depreciation)** |
|<br>**Counterparty** |<br>**Settlement Date** | **Currency** | **Notional** | **Currency** | **Notional** |<br>**Fair Value** | **Change in Unrealized Appreciation / (Depreciation)** |
| Macquarie Bank Limited | 2/3/2026 | USD | 39 | EUR | 37 | (4) | (4) |
| Goldman Sachs & Co. LLC | 2/3/2026 | USD | 90 | GBP | 67 | 1 | 1 |
| Macquarie Bank Limited | 2/4/2026 | USD | 349 | CAD | 473 | 7 | (7) |
| Goldman Sachs & Co. LLC | 2/10/2026 | GBP | 52 | USD | 70 | 0 | 0 |
| Goldman Sachs & Co. LLC | 2/10/2026 | USD | 334 | GBP | 256 | (10) | (10) |
| Goldman Sachs & Co. LLC | 2/10/2026 | USD | 39 | GBP | 29 | 0 | 0 |
| Macquarie Bank Limited | 2/17/2026 | USD | 515 | EUR | 464 | (34) | (57) |
| Goldman Sachs & Co. LLC | 2/17/2026 | USD | 1049 | GBP | 823 | (57) | (79) |
| Macquarie Bank Limited | 2/17/2026 | USD | 35 | EUR | 29 | 0 | 0 |
| Macquarie Bank Limited | 2/27/2026 | USD | 639 | GBP | 505 | (40) | (48) |
| Macquarie Bank Limited | 2/27/2026 | USD | 124 | GBP | 92 | 1 | 1 |
| Macquarie Bank Limited | 3/5/2026 | USD | 11203 | GBP | 8936 | (811) | (855) |
| Macquarie Bank Limited | 3/5/2026 | USD | 8465 | EUR | 7870 | (853) | (966) |
| Macquarie Bank Limited | 3/5/2026 | USD | 2023 | GBP | 1494 | 15 | 15 |
| Goldman Sachs & Co. LLC | 3/10/2026 | USD | 549 | EUR | 481 | (20) | (20) |
| Macquarie Bank Limited | 4/2/2026 | USD | 11 | CAD | 15 | 0 | 0 |
| Macquarie Bank Limited | 4/2/2026 | USD | 171 | EUR | 146 | (2) | (2) |
| Macquarie Bank Limited | 4/7/2026 | USD | 758 | EUR | 710 | (85) | (85) |
| Goldman Sachs & Co. LLC | 4/7/2026 | USD | 123 | EUR | 106 | (3) | (3) |
| Goldman Sachs & Co. LLC | 4/7/2026 | USD | 136 | GBP | 100 | 1 | 1 |
| Goldman Sachs & Co. LLC | 4/7/2026 | USD | 53 | EUR | 44 | 0 | 0 |
| Macquarie Bank Limited | 4/9/2026 | USD | 242 | EUR | 218 | (17) | (17) |
| Macquarie Bank Limited | 4/9/2026 | USD | 35 | EUR | 29 | 0 | 0 |
| Goldman Sachs & Co. LLC | 4/14/2026 | USD | 179 | EUR | 162 | (13) | (20) |
| Macquarie Bank Limited | 4/14/2026 | USD | 111 | EUR | 92 | 1 | 1 |
| Macquarie Bank Limited | 4/27/2026 | USD | 706 | EUR | 622 | (33) | (33) |
| Macquarie Bank Limited | 4/27/2026 | USD | 17 | EUR | 14 | 0 | 0 |
| Macquarie Bank Limited | 5/4/2026 | USD | 781 | EUR | 702 | (53) | (86) |
| Macquarie Bank Limited | 5/4/2026 | USD | 129 | EUR | 120 | (13) | (15) |
| Macquarie Bank Limited | 5/4/2026 | USD | 39 | EUR | 36 | (4) | (4) |
| Macquarie Bank Limited | 5/5/2026 | USD | 332 | CAD | 449 | 6 | (7) |
| Goldman Sachs & Co. LLC | 5/6/2026 | USD | 978 | GBP | 755 | (37) | (72) |
| Goldman Sachs & Co. LLC | 5/6/2026 | USD | 54 | GBP | 43 | (4) | (4) |
| Macquarie Bank Limited | 5/6/2026 | USD | 151 | GBP | 116 | (5) | (5) |
| Goldman Sachs & Co. LLC | 5/11/2026 | GBP | 49 | USD | 66 | 0 | 0 |
| Goldman Sachs & Co. LLC | 5/11/2026 | USD | 321 | GBP | 246 | (10) | (10) |
| Goldman Sachs & Co. LLC | 5/11/2026 | USD | 37 | GBP | 27 | 0 | 0 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** |
| | | **Amount to be Purchased** | **Amount to be Purchased** | **Amount to be Sold** | **Amount to be Sold** | | **Change in Unrealized Appreciation / (Depreciation)** |
|<br>**Counterparty** |<br>**Settlement Date** | **Currency** | **Notional** | **Currency** | **Notional** |<br>**Fair Value** | **Change in Unrealized Appreciation / (Depreciation)** |
| Macquarie Bank Limited | 5/15/2026 | USD | 506 | EUR | 454 | (34) | (55) |
| Goldman Sachs & Co. LLC | 5/15/2026 | USD | 1018 | GBP | 799 | (55) | (76) |
| Macquarie Bank Limited | 5/15/2026 | USD | 34 | EUR | 29 | 0 | 0 |
| Macquarie Bank Limited | 5/15/2026 | USD | 375 | GBP | 277 | 2 | 2 |
| Macquarie Bank Limited | 5/29/2026 | USD | 653 | GBP | 516 | (41) | (49) |
| Macquarie Bank Limited | 5/29/2026 | USD | 124 | GBP | 92 | 1 | 1 |
| Goldman Sachs & Co. LLC | 6/9/2026 | USD | 566 | EUR | 493 | (21) | (21) |
| Macquarie Bank Limited | 6/10/2026 | USD | 18933 | EUR | 16976 | (1256) | (2070) |
| Macquarie Bank Limited | 6/10/2026 | USD | 1398 | EUR | 1174 | 2 | 2 |
| Macquarie Bank Limited | 6/30/2026 | USD | 4598 | GBP | 3628 | (275) | (344) |
| Macquarie Bank Limited | 6/30/2026 | USD | 1608 | GBP | 1271 | (100) | (120) |
| Macquarie Bank Limited | 6/30/2026 | USD | 2898 | GBP | 2298 | (189) | (218) |
| Macquarie Bank Limited | 6/30/2026 | USD | 3967 | GBP | 3092 | (188) | (293) |
| Goldman Sachs & Co. LLC | 6/30/2026 | USD | 11948 | EUR | 10701 | (790) | (1302) |
| Macquarie Bank Limited | 6/30/2026 | USD | 4052 | GBP | 3136 | (162) | (297) |
| Macquarie Bank Limited | 6/30/2026 | USD | 3408 | GBP | 2748 | (284) | (284) |
| Goldman Sachs & Co. LLC | 6/30/2026 | USD | 2989 | GBP | 2248 | (32) | (32) |
| Macquarie Bank Limited | 6/30/2026 | USD | 2587 | GBP | 1915 | 15 | 15 |
| Macquarie Bank Limited | 7/2/2026 | USD | 11 | CAD | 15 | 0 | 0 |
| Macquarie Bank Limited | 7/6/2026 | USD | 771 | EUR | 719 | (85) | (85) |
| Goldman Sachs & Co. LLC | 7/6/2026 | USD | 125 | EUR | 108 | (3) | (3) |
| Macquarie Bank Limited | 7/6/2026 | USD | 175 | EUR | 149 | (2) | (2) |
| Goldman Sachs & Co. LLC | 7/6/2026 | USD | 40 | EUR | 34 | 0 | 0 |
| Macquarie Bank Limited | 7/9/2026 | USD | 244 | EUR | 220 | (17) | (17) |
| Macquarie Bank Limited | 7/9/2026 | USD | 35 | EUR | 29 | 0 | 0 |
| Goldman Sachs & Co. LLC | 7/10/2026 | USD | 11996 | GBP | 8843 | 117 | 117 |
| Goldman Sachs & Co. LLC | 7/14/2026 | USD | 180 | EUR | 162 | (14) | (20) |
| Macquarie Bank Limited | 7/14/2026 | USD | 112 | EUR | 93 | 1 | 1 |
| Macquarie Bank Limited | 8/4/2026 | USD | 812 | EUR | 728 | (56) | (88) |
| Goldman Sachs & Co. LLC | 8/4/2026 | USD | 1008 | GBP | 779 | (38) | (73) |
| Macquarie Bank Limited | 8/4/2026 | USD | 133 | EUR | 122 | (13) | (15) |
| Macquarie Bank Limited | 8/4/2026 | USD | 40 | EUR | 37 | (4) | (4) |
| Goldman Sachs & Co. LLC | 8/4/2026 | USD | 80 | GBP | 59 | 1 | 1 |
| Macquarie Bank Limited | 8/5/2026 | USD | 338 | CAD | 458 | 5 | (7) |
| Goldman Sachs & Co. LLC | 8/11/2026 | GBP | 49 | USD | 66 | 0 | 0 |
| Goldman Sachs & Co. LLC | 8/11/2026 | USD | 332 | GBP | 254 | (10) | (10) |
| Goldman Sachs & Co. LLC | 8/11/2026 | USD | 38 | GBP | 28 | 0 | 0 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** |
| | | **Amount to be Purchased** | **Amount to be Purchased** | **Amount to be Sold** | **Amount to be Sold** | | **Change in Unrealized Appreciation / (Depreciation)** |
|<br>**Counterparty** |<br>**Settlement Date** | **Currency** | **Notional** | **Currency** | **Notional** |<br>**Fair Value** | **Change in Unrealized Appreciation / (Depreciation)** |
| Goldman Sachs & Co. LLC | 8/14/2026 | USD | 1023 | GBP | 803 | (54) | (76) |
| Macquarie Bank Limited | 8/18/2026 | USD | 32914 | GBP | 24379 | 181 | 181 |
| Macquarie Bank Limited | 8/25/2026 | USD | 41784 | GBP | 30876 | 331 | 331 |
| Macquarie Bank Limited | 8/28/2026 | USD | 652 | GBP | 516 | (41) | (48) |
| Macquarie Bank Limited | 8/28/2026 | USD | 123 | GBP | 91 | 1 | 1 |
| Goldman Sachs & Co. LLC | 9/9/2026 | USD | 573 | EUR | 497 | (21) | (21) |
| Macquarie Bank Limited | 10/2/2026 | USD | 11 | CAD | 15 | 0 | 0 |
| Macquarie Bank Limited | 10/5/2026 | USD | 787 | EUR | 730 | (86) | (86) |
| Goldman Sachs & Co. LLC | 10/5/2026 | USD | 127 | EUR | 109 | (3) | (3) |
| Goldman Sachs & Co. LLC | 10/5/2026 | USD | 55 | EUR | 45 | 0 | 0 |
| Macquarie Bank Limited | 10/6/2026 | USD | 177 | EUR | 149 | (2) | (2) |
| Macquarie Bank Limited | 10/9/2026 | USD | 248 | EUR | 222 | (18) | (18) |
| Macquarie Bank Limited | 10/9/2026 | USD | 35 | EUR | 29 | 0 | 0 |
| Goldman Sachs & Co. LLC | 10/14/2026 | USD | 182 | EUR | 164 | (14) | (20) |
| Macquarie Bank Limited | 10/14/2026 | USD | 114 | EUR | 95 | 1 | 1 |
| Macquarie Bank Limited | 10/16/2026 | USD | 38960 | EUR | 34111 | (1813) | (1813) |
| Macquarie Bank Limited | 10/16/2026 | USD | 930 | EUR | 787 | (12) | (12) |
| Macquarie Bank Limited | 10/27/2026 | USD | 756 | EUR | 675 | (51) | (81) |
| Macquarie Bank Limited | 10/27/2026 | USD | 122 | EUR | 112 | (12) | (13) |
| Macquarie Bank Limited | 10/27/2026 | USD | 37 | EUR | 34 | (4) | (4) |
| Goldman Sachs & Co. LLC | 11/3/2026 | USD | 1007 | GBP | 778 | (37) | (72) |
| Goldman Sachs & Co. LLC | 11/3/2026 | USD | 53 | GBP | 42 | (4) | (4) |
| Macquarie Bank Limited | 11/3/2026 | USD | 142 | GBP | 109 | (5) | (5) |
| Macquarie Bank Limited | 11/4/2026 | USD | 335 | CAD | 453 | 5 | (7) |
| Macquarie Bank Limited | 11/6/2026 | USD | 16923 | EUR | 15421 | (1523) | (1841) |
| Macquarie Bank Limited | 11/6/2026 | USD | 11311 | EUR | 10082 | (749) | (1203) |
| Macquarie Bank Limited | 11/6/2026 | USD | 6235 | EUR | 5681 | (561) | (678) |
| Macquarie Bank Limited | 11/6/2026 | USD | 4167 | EUR | 3714 | (276) | (443) |
| Goldman Sachs & Co. LLC | 11/10/2026 | GBP | 49 | USD | 65 | 0 | 0 |
| Goldman Sachs & Co. LLC | 11/10/2026 | USD | 335 | GBP | 257 | (10) | (10) |
| Goldman Sachs & Co. LLC | 11/10/2026 | USD | 38 | GBP | 28 | 0 | 0 |
| Goldman Sachs & Co. LLC | 11/13/2026 | USD | 1030 | GBP | 808 | (53) | (75) |
| Macquarie Bank Limited | 11/30/2026 | USD | 645 | GBP | 510 | (40) | (47) |
| Goldman Sachs & Co. LLC | 11/30/2026 | USD | 30034 | EUR | 25985 | (1074) | (1074) |
| Macquarie Bank Limited | 11/30/2026 | USD | 121 | GBP | 90 | 1 | 1 |
| Macquarie Bank Limited | 12/30/2026 | USD | 9662 | EUR | 8136 | (88) | (88) |
| Macquarie Bank Limited | 1/4/2027 | USD | 11 | CAD | 15 | 0 | 0 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** |
| | | **Amount to be Purchased** | **Amount to be Purchased** | **Amount to be Sold** | **Amount to be Sold** | | **Change in Unrealized Appreciation / (Depreciation)** |
|<br>**Counterparty** |<br>**Settlement Date** | **Currency** | **Notional** | **Currency** | **Notional** |<br>**Fair Value** | **Change in Unrealized Appreciation / (Depreciation)** |
| Macquarie Bank Limited | 1/5/2027 | USD | 794 | EUR | 733 | (85) | (85) |
| Goldman Sachs & Co. LLC | 1/5/2027 | USD | 129 | EUR | 110 | (3) | (3) |
| Goldman Sachs & Co. LLC | 1/5/2027 | USD | 54 | EUR | 45 | 0 | 0 |
| Macquarie Bank Limited | 1/8/2027 | USD | 57070 | EUR | 50612 | (3598) | (5985) |
| Macquarie Bank Limited | 1/11/2027 | USD | 250 | EUR | 223 | (18) | (18) |
| Macquarie Bank Limited | 1/11/2027 | USD | 35 | EUR | 29 | 0 | 0 |
| Goldman Sachs & Co. LLC | 1/14/2027 | USD | 182 | EUR | 163 | (14) | (19) |
| Macquarie Bank Limited | 1/14/2027 | USD | 115 | EUR | 95 | 1 | 1 |
| Goldman Sachs & Co. LLC | 1/15/2027 | USD | 89996 | GBP | 70779 | (4853) | (6478) |
| Macquarie Bank Limited | 2/2/2027 | USD | 891 | EUR | 792 | (60) | (93) |
| Goldman Sachs & Co. LLC | 2/2/2027 | USD | 1008 | GBP | 779 | (36) | (71) |
| Macquarie Bank Limited | 2/2/2027 | USD | 144 | EUR | 132 | (14) | (16) |
| Macquarie Bank Limited | 2/2/2027 | USD | 44 | EUR | 40 | (5) | (5) |
| Goldman Sachs & Co. LLC | 2/2/2027 | USD | 72 | GBP | 53 | 1 | 1 |
| Macquarie Bank Limited | 2/3/2027 | USD | 332 | CAD | 449 | 4 | (6) |
| Goldman Sachs & Co. LLC | 2/11/2027 | GBP | 48 | USD | 64 | 0 | 0 |
| Goldman Sachs & Co. LLC | 2/11/2027 | USD | 39 | GBP | 28 | 0 | 0 |
| Macquarie Bank Limited | 2/26/2027 | USD | 632 | GBP | 501 | (38) | (45) |
| Macquarie Bank Limited | 2/26/2027 | USD | 120 | GBP | 89 | 1 | 1 |
| Macquarie Bank Limited | 3/5/2027 | USD | 38801 | EUR | 35852 | (4256) | (4256) |
| Goldman Sachs & Co. LLC | 3/5/2027 | USD | 6578 | EUR | 5615 | (165) | (165) |
| Goldman Sachs & Co. LLC | 3/5/2027 | USD | 2703 | EUR | 2246 | 5 | 5 |
| Macquarie Bank Limited | 3/30/2027 | USD | 13623 | EUR | 12152 | (983) | (983) |
| Macquarie Bank Limited | 3/30/2027 | USD | 1957 | EUR | 1625 | 4 | 4 |
| Macquarie Bank Limited | 4/2/2027 | USD | 11 | CAD | 15 | 0 | 0 |
| Goldman Sachs & Co. LLC | 4/14/2027 | USD | 178 | EUR | 159 | (13) | (19) |
| Macquarie Bank Limited | 4/14/2027 | USD | 114 | EUR | 94 | 1 | 1 |
| Macquarie Bank Limited | 5/4/2027 | USD | 811 | EUR | 719 | (54) | (84) |
| Goldman Sachs & Co. LLC | 5/4/2027 | USD | 975 | GBP | 754 | (33) | (67) |
| Macquarie Bank Limited | 5/4/2027 | USD | 135 | EUR | 123 | (13) | (14) |
| Goldman Sachs & Co. LLC | 5/4/2027 | USD | 22 | GBP | 18 | (1) | (2) |
| Macquarie Bank Limited | 5/4/2027 | USD | 41 | EUR | 37 | (4) | (4) |
| Macquarie Bank Limited | 5/4/2027 | USD | 128 | GBP | 99 | (4) | (4) |
| Macquarie Bank Limited | 5/5/2027 | USD | 319 | CAD | 431 | 4 | (6) |
| Goldman Sachs & Co. LLC | 5/14/2027 | GBP | 2827 | USD | 3773 | 9 | 9 |
| Goldman Sachs & Co. LLC | 5/14/2027 | USD | 18814 | GBP | 14454 | (524) | (524) |
| Goldman Sachs & Co. LLC | 5/14/2027 | USD | 2261 | GBP | 1672 | 24 | 24 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** | **Forward Foreign Currency Contracts as of and for the Year Ended September 30, 2025** |
| | | **Amount to be Purchased** | **Amount to be Purchased** | **Amount to be Sold** | **Amount to be Sold** | | **Change in Unrealized Appreciation / (Depreciation)** |
|<br>**Counterparty** |<br>**Settlement Date** | **Currency** | **Notional** | **Currency** | **Notional** |<br>**Fair Value** | **Change in Unrealized Appreciation / (Depreciation)** |
| Macquarie Bank Limited | 5/28/2027 | USD | 646 | GBP | 512 | (38) | (45) |
| Macquarie Bank Limited | 5/28/2027 | USD | 123 | GBP | 91 | 1 | 1 |
| Macquarie Bank Limited | 7/2/2027 | USD | 11 | CAD | 15 | 0 | 0 |
| Goldman Sachs & Co. LLC | 7/14/2027 | USD | 8950 | EUR | 8005 | (707) | (926) |
| Macquarie Bank Limited | 7/14/2027 | USD | 5916 | EUR | 4854 | 61 | 61 |
| Macquarie Bank Limited | 8/3/2027 | USD | 841 | EUR | 743 | (56) | (86) |
| Goldman Sachs & Co. LLC | 8/3/2027 | USD | 1008 | GBP | 779 | (33) | (67) |
| Macquarie Bank Limited | 8/3/2027 | USD | 136 | EUR | 123 | (13) | (14) |
| Macquarie Bank Limited | 8/3/2027 | USD | 42 | EUR | 38 | (4) | (4) |
| Goldman Sachs & Co. LLC | 8/3/2027 | USD | 68 | GBP | 51 | 1 | 1 |
| Macquarie Bank Limited | 8/4/2027 | USD | 14329 | CAD | 19304 | 157 | (236) |
| Macquarie Bank Limited | 8/4/2027 | USD | 2022 | CAD | 2809 | (40) | (40) |
| Macquarie Bank Limited | 8/4/2027 | USD | 330 | CAD | 444 | 4 | 4 |
| Macquarie Bank Limited | 8/31/2027 | USD | 646 | GBP | 512 | (37) | (44) |
| Macquarie Bank Limited | 8/31/2027 | USD | 124 | GBP | 92 | 1 | 1 |
| Macquarie Bank Limited | 9/2/2027 | USD | 486 | CAD | 658 | 2 | (8) |
| Macquarie Bank Limited | 10/25/2027 | USD | 44227 | EUR | 39069 | (3055) | (4453) |
| Macquarie Bank Limited | 10/25/2027 | USD | 7290 | EUR | 6600 | (698) | (752) |
| Macquarie Bank Limited | 10/25/2027 | USD | 2188 | EUR | 1992 | (222) | (222) |
| Goldman Sachs & Co. LLC | 10/29/2027 | USD | 38016 | GBP | 29488 | (1346) | (2484) |
| Goldman Sachs & Co. LLC | 10/29/2027 | USD | 1002 | GBP | 798 | (63) | (67) |
| Macquarie Bank Limited | 10/29/2027 | USD | 2858 | GBP | 2215 | (99) | (99) |
| Goldman Sachs & Co. LLC | 10/29/2027 | USD | 1496 | GBP | 1108 | 17 | 17 |
| Macquarie Bank Limited | 11/12/2027 | USD | 27869 | GBP | 22164 | (1711) | (1860) |
| Macquarie Bank Limited | 11/12/2027 | USD | 5711 | GBP | 4257 | 29 | 29 |
| Macquarie Bank Limited | 11/30/2027 | USD | 68905 | EUR | 62386 | (6675) | (7067) |
| Macquarie Bank Limited | 12/27/2027 | USD | 40982 | NOK | 466046 | (5354) | (5132) |
| Macquarie Bank Limited | 12/27/2027 | USD | 23118 | NOK | 261651 | (2896) | (2896) |
| Goldman Sachs & Co. LLC | 12/30/2027 | USD | 49141 | EUR | 43349 | (3424) | (3424) |
| Macquarie Bank Limited | 1/24/2028 | USD | 87951 | EUR | 80457 | (9682) | (9682) |
| Macquarie Bank Limited | 3/31/2028 | USD | 64462 | EUR | 56444 | (4170) | (4170) |
| Macquarie Bank Limited | 9/26/2028 | USD | 11071 | CAD | 15010 | (42) | (42) |
| &nbsp;&nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;Total |  |  | $(68031) | $(80212) |
| Cash Collateral Pledged / (Received) | Cash Collateral Pledged / (Received) | Cash Collateral Pledged / (Received) | Cash Collateral Pledged / (Received) |  |  |  |  |
| **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** | **Total Forward Foreign Currency Contracts** |  |  | $(68031) | $(80212) |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS (Continued)**

**As of September 30, 2025**

**(amounts in thousands)**

\* Par / Principal Amount is denominated in USD ("$") unless otherwise noted as denominated in British Pound ("£"), Canadian Dollar ("C$"), Euro ("€"), or Norwegian Krone ("kr").

(1) All of the Fund's Corporate Loans, Collateralized Loan Obligations, Asset-Backed Securities, Common Stocks, Corporate Bonds, Preferred Stock, Warrants and Money Market Funds, if applicable, as of September 30, 2025 represented 139.9% of the Fund's net assets or 95.5% of the Fund's total assets. Certain investments are subject to contractual restrictions on sales.

(2) The security position has been segregated as collateral against outstanding borrowings.

(3) All or a portion of this security is owned by OCPC Credit Facility SPV LLC (the "OCPC SPV"). See Note 1, Organization. As of September 30, 2025, the aggregate fair value of these securities is $2,836,276, or 43.9% of the Fund's Total Investments, at Fair Value.

(4) Represents the interest rate for a variable or increasing rate security, determined as Reference Rate + Basis-point spread. Stated interest rate represents the "all-in" rate as of September 30, 2025. Reference Rates are defined as follows:

---

| | |
|:---|:---|
| CORRA | Canadian Overnight Repo Rate Average |
| EURIBOR | Euro Interbank Offered Rate |
| PRIME | U.S. Prime Rate |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Index Average |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of September 30, 2025, the reference rates for our variable rate loans were the daily SOFR at 4.24%, the 30-day SOFR at 4.13%, the 90-day SOFR at 3.98%, the 180-day SOFR at 3.85%, the 30-day CORRA at 2.56%, the 30-day EURIBOR at 1.93%, the 90-day EURIBOR at 2.03%, the 180-day EURIBOR at 2.10%, the daily SONIA at 3.97%, and the daily PRIME rate at 7.25%.

(5) The value of this security was determined using significant unobservable inputs. See Note 3, Fair Value Measurements.

(6) The Fund has an unfunded commitment to fund delayed draw and/or revolving senior secured loans. See Note 5, Commitments and Contingencies.

(7) Represents securities sold under Rule 144A, which are exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). These securities have been determined to be liquid under the guidelines established by the Board of Trustees. As of September 30, 2025, the aggregate fair value of these securities is $1,031,189, or 22.3% of the Fund's net assets.

(8) Interest or dividend is paid-in-kind, when applicable.

(9) Non-income producing security.

(10) Security acquired in transaction exempt from registration under the Securities Act, and may be deemed to be "restricted securities" under the Securities Act, unless otherwise noted, excluding 144A securities, Regulation S securities, and loans. As of September 30, 2025, the aggregate fair value of these securities is $311,834, or 6.8% of the Fund's net assets.

(11) In addition to the interest earned based on the stated interest rate of this loan, the Fund is entitled to receive additional interest as a result of an agreement among lenders, which has been included in the spread of each applicable investment. Pursuant to the agreement among lenders in respect of this loan, this investment represents a first lien/last out loan, which has a secondary priority behind the first lien/first out loan with respect to principal, interest and other payments.

(12) Class SUB, M1, and M2 are considered equity tranches of collateralized loan obligation ("CLO") issuances. These notes receive excess distributions, if any, once all other senior obligations are satisfied in the CLO structure. CLO equity tranches are generally issued at a discount and have no contractual principal and interest payments.

(13) Securities include a credit spread adjustment that ranges from 0.10% to 0.43%.

(14) Securities include an interest rate floor feature, which generally ranges from 0.50% to 1.00%.

(15) Loan was on non-accrual status as of September 30, 2025.

(16) Represents securities sold outside the U.S. and exempt from registration under the Securities Act, under Regulation S. These securities have been determined to be liquid under the guidelines established by the Board of Trustees. As of September 30, 2025, the aggregate fair value of these securities is $40,457 or 0.9% of the Fund's net assets.

(17) Interest rate swap contains a variable rate structure and bears interest at a rate determined by three-month term SOFR.

(18) As of September 30, 2025, no cash collateral was available to offset with Macquarie Bank Limited or Goldman Sachs & Co. LLC.

(19) Residual equity tranches of asset-backed security ("ABS") issuances. These notes receive excess distributions, if any, once all other senior obligations are satisfied in the ABS structure. ABS residual equity tranches are generally issued at a discount and have no contractual principal and interest payments.

(20) All or a portion of this security is owned by CTAC Bedford Lender, LLC ("CTAC Bedford"). See Note 1, Organization. As of September 30, 2025, the aggregate fair value of these securities is $38,665, or 0.6% of the Fund's Total Investments, at Fair Value.

(21) All or a portion of this security is owned by CTAC Barracuda SPV LLC (the "Barracuda SPV"). See Note 1, Organization. As of September 30, 2025, the aggregate fair value of these securities is $610,224, or 9.4% of the Fund's Total Investments, at Fair Value.

*See accompanying Notes to Consolidated Schedule of Investments.*

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)**

**As of September 30, 2025**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

**1. ORGANIZATION**

Carlyle Tactical Private Credit Fund (together with its consolidated subsidiaries, the "Fund") is a Delaware statutory trust formed on December 13, 2017, and structured as an externally managed, diversified, closed-end investment company. The Fund is managed by its Adviser, Carlyle Global Credit Investment Management L.L.C. ("CGCIM" or the "Adviser"). Carlyle Global Credit Administration L.L.C. (the "Administrator") provides

the administrative services necessary for the Fund to operate. Both the Adviser and the Administrator are wholly owned subsidiaries of Carlyle Investment Management L.L.C. The Fund is registered under the Investment Company Act of 1940, as amended (together with the rules and regulations promulgated thereunder, the "Investment Company Act"), and operates as an interval fund. In addition, the Fund has elected to be treated, and intends to continue to comply with the requirements to qualify annually, as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (together with the rules and regulations promulgated thereunder, the "Code"). The Fund engages in a continuous offering of shares and will offer to make quarterly repurchases of shares at net asset value.

On June 4, 2018 (Commencement of Operations), the Fund completed its initial offering of shares of beneficial interest and subsequently commenced substantial investment operations. Effective November 4, 2019, the Fund changed its name from "OFI Carlyle Private Credit Fund" to "Carlyle Tactical Private Credit Fund." Prior to October 24, 2019, the Fund's Adviser was OC Private Capital, LLC, a joint venture between an affiliate of Invesco Ltd. and Carlyle Investment Management L.L.C., the parent company of CGCIM.

OCPC Credit Facility SPV LLC (the "OCPC SPV") is a Delaware limited liability company that was formed on March 11, 2018. The OCPC SPV is a wholly owned subsidiary of the Fund and is consolidated in these consolidated financial statements commencing from the date of its formation. As of September 30, 2025, the Fund's net assets were $4,618,118, of which $2,173,651, or 47.1%, are represented by the OCPC SPV's net assets.

CTAC Bedford Lender, LLC ("CTAC Bedford") is a Delaware limited liability company that was formed on February 6, 2024. CTAC Bedford is a wholly owned subsidiary of the Fund and is consolidated in these consolidated financial statements commencing from the date of its formation. As of September 30, 2025, the net assets of CTAC Bedford were $13,081, which represents 0.3% of the Fund's total net assets.

CTAC Barracuda SPV LLC (the "Barracuda SPV") is a Delaware limited liability company that was formed on October 18, 2024. Barracuda SPV is a wholly owned subsidiary of the Fund and is consolidated in these consolidated financial statements commencing from the date of its formation. As of September 30, 2025, the net assets of the Barracuda SPV were $357,832, which represents 7.7% of the Fund's total net assets.

The Fund's investment objective is to produce current income. The Fund seeks to achieve its investment objective by opportunistically allocating its assets across a wide range of credit strategies. Under normal circumstances, the Fund will invest at least 80% of its assets in private credit instruments. The Fund will opportunistically allocate its investments in private credit instruments across any number of the following credit strategies: (a) liquid credit (including broadly syndicated loans); (b) direct lending (including first lien loans, second lien loans, unitranche loans and mezzanine debt); (c) opportunistic credit; (d) structured credit (including collateralized loan obligations, or "CLOs"); (e) asset-backed finance; and (f) real assets credit (including infrastructure, aviation and real estate). To a lesser extent, the Fund also may invest in hybrid capital, including credit-oriented investments, structured equity solutions, and stressed/dislocated investments. The Fund may invest in additional strategies in the future as opportunities in different strategies present. While some of the loans in which the Fund will invest pursuant to the foregoing may be secured, the Fund may also invest in debt and equity securities that are either unsecured and subordinated to substantial amounts of senior indebtedness, or a significant portion of which may be unsecured. The Fund normally will invest in a number of different countries. There is no minimum or maximum limit on the amount of the Fund's assets that may be invested in non-U.S. securities. The Fund's portfolio composition is expected to change over time as the Adviser's view changes on, among other things, the economic and credit environment (including with respect to interest rates) in which the Fund is operating.

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

The Fund may invest a substantial portion of its assets in credit instruments that are rated below investment grade by rating agencies or would be rated below investment grade if they were rated. Credit instruments that are rated below investment grade (commonly referred to as "high yield" securities or "junk bonds") are regarded as having predominantly speculative characteristics with respect to the issuer's capacity to pay interest and repay principal. Because of the risks associated with investing in high yield securities, an investment in the Fund should be considered speculative. Some of the credit instruments will have no credit rating at all.

To qualify as a RIC, the Fund must, among other things, meet certain source-of-income and asset diversification requirements and timely distribute to its shareholders generally at least 90% of its investment company taxable income, as defined by the Code, for each year. Pursuant to this election, the Fund generally does not have to pay corporate level taxes on any income that it distributes to shareholders, provided that the Fund satisfies those requirements.

Foreside Fund Services, LLC (the "Distributor") serves as the Fund's principal underwriter and the distributor of the Fund's shares. The Fund offers Class A, Class I, Class L, Class M, Class N, Class U, and Class Y shares. During the reporting period, the Fund's shares were offered for sale on a daily basis for all of its share classes. Earnings, net assets and net asset value per share may differ due to each class having its own expenses, such as transfer and shareholder servicing agent fees and shareholder communications directly attributable to that class. Class A, L, M, U and Y have separate distribution and/or service plans under which they pay fees. Class I and Class N do not pay such fees. The sales load payable by each investor depends upon the amount invested by the investor in the Fund, but may range from 0.00% to 3.50%.

**2. SIGNIFICANT ACCOUNTING POLICIES**

***Basis of Presentation***

The consolidated schedule of investments has been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). The Fund is an investment company for the purposes of accounting and financial reporting in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 946, *Financial Services—Investment Companies* ("ASC 946")*.* The consolidated schedule of investments includes the accounts of the Fund and its wholly owned subsidiaries, the OCPC SPV, Barracuda SPV, and CTAC Bedford. All significant intercompany balances and transactions have been eliminated. U.S. GAAP for an investment company requires investments to be recorded at fair value. The carrying value for all other assets and liabilities approximates their fair value.

**3. FAIR VALUE MEASUREMENTS**

The Fund applies fair value accounting in accordance with the terms of FASB ASC Topic 820, *Fair Value Measurement* ("ASC 820"). ASC 820 defines fair value as the amount that would be exchanged to sell an asset or transfer a liability in an orderly transfer between market participants at the measurement date. The Fund values securities/instruments traded in active markets on the measurement date by multiplying the bid price of such traded securities/instruments by the quantity of shares or amount of the instrument held. The Fund may also obtain quotes with respect to certain of its investments, such as its securities/instruments traded in active markets and its liquid securities/instruments that are not traded in active markets, from pricing services, brokers, or counterparties (i.e., "consensus pricing"). When doing so, the Adviser determines whether the quote obtained is sufficient according to U.S. GAAP to determine the fair value of the security. The Fund may use the quote obtained or alternative pricing sources may be utilized including valuation techniques typically utilized for illiquid securities/instruments.

The Board of Trustees has designated the Adviser as the Fund's valuation designee for purposes of Rule 2a-5 under the Investment Company Act to perform the fair value determination of all of the Fund's assets in accordance with the terms of ASC 820. Securities/instruments that are illiquid or for which the pricing source does not provide a valuation or methodology or provides a valuation or methodology that, in the judgment of the Adviser, does not represent fair value shall each be valued as of the measurement date using all techniques appropriate under the circumstances and for which sufficient data is available. These valuation techniques may vary by investment and

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

include comparable public market valuations, comparable precedent transaction valuations and/or discounted cash flow analyses. The Adviser engages third-party valuation firms to provide independent prices on securities/instruments that are illiquid or for which the pricing source does not provide a valuation. The Adviser's Valuation Committee (the "Valuation Committee") reviews the assessments of the third-party valuation firms and provides any recommendations with respect to changes to the fair value of each investment in the portfolio and approves the fair value of each investment in the portfolio in good faith based on the input of the third-party valuation firms. If the Adviser reasonably believes a valuation from an independent valuation firm or pricing vendor is inaccurate or unreliable, the Valuation Committee will consider an "override" of the particular valuation. The Valuation Committee will consider all available information at its disposal prior to making a valuation determination.

All factors that might materially impact the value of an investment are considered, including, but not limited to the assessment of the following factors, as relevant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the nature and realizable value of any collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• call features, put features and other relevant terms of debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the portfolio company's leverage and ability to make payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the portfolio company's public or private credit rating;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the portfolio company's actual and expected earnings and discounted cash flow;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• prevailing interest rates and spreads for similar securities and expected volatility in future interest rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the markets in which the portfolio company does business and recent economic and/or market events; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• comparisons to comparable transactions and publicly traded securities.

Investment performance data utilized are the most recently available financial statements and compliance certificate received from the portfolio companies as of the measurement date which in many cases may reflect a lag in information.

Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Fund's investments may fluctuate from period to period. Because of the inherent uncertainty of valuation, these estimated values may differ significantly from the values that would have been reported had a ready market for the investments existed, and it is reasonably possible that the difference could be material.

In addition, changes in the market environment and other events that may occur over the life of the investments may cause the realized gains or losses on investments to be different from the net change in unrealized appreciation or depreciation.

U.S. GAAP establishes a hierarchical disclosure framework which ranks the level of observability of market price inputs used in measuring investments at fair value. The observability of inputs is impacted by a number of factors, including the type of investment and the characteristics specific to the investment and state of the marketplace, including the existence and transparency of transactions between market participants. Investments with readily available quoted prices or for which fair value can be measured from quoted prices in active markets generally have a higher degree of market price observability and a lesser degree of judgment applied in determining fair value.

Investments measured and reported at fair value are classified and disclosed based on the observability of inputs used in determination of fair values, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1—inputs to the valuation methodology are quoted prices available in active markets for identical investments as of the reporting date. Financial instruments in this category generally include unrestricted securities, including equities and derivatives, listed in active markets. The Adviser does not adjust the quoted price for these investments, even in situations where the Fund holds a large position and a sale could reasonably impact the quoted price.

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2—inputs to the valuation methodology are either directly or indirectly observable as of the reporting date and are those other than quoted prices in active markets. Financial instruments in this category generally include less liquid and restricted securities listed in active markets, securities traded in other than active markets, government and agency securities, and certain over-the-counter derivatives where the fair value is based on observable inputs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3—inputs to the valuation methodology are unobservable and significant to overall fair value measurement. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments in this category generally include investments in privately-held entities, non-investment grade residual interests in securitizations, collateralized loan obligations, and certain over-the-counter derivatives where the fair value is based on unobservable inputs.

In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the overall fair value measurement. The Adviser's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment.

Transfers between levels, if any, are recognized at the beginning of the period in which the transfers occur. During the nine month period ended September 30, 2025, there were transfers of $21,205 into Level 3 and transfers of $20,231 out of Level 3. Transfers into and out of Level 3 were primarily due to decreased or increased price transparency, respectively, and are based on the Fund's policy to determine the fair value hierarchy utilizing available quoted prices in active markets, the bid-ask spread and the liquidity of the investment.

The following table summarizes the Fund's investments measured at fair value on a recurring basis by the above fair value hierarchy levels as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** | **As of September 30, 2025** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets** | | | | |
| Corporate Loans |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;First Lien Debt | $— | $841358 | $3374285 | $4215643 |
| &nbsp;&nbsp;&nbsp;&nbsp;Second Lien Debt |  | 11196 | 134679 | 145875 |
| Corporate Bonds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured |  | 39087 | 232168 | 271255 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unsecured |  | 12005 | 67068 | 79073 |
| Collateralized Loan Obligations |  |  | 861854 | 861854 |
| Asset-Backed Securities |  |  | 265509 | 265509 |
| Preferred Stock |  |  | 230691 | 230691 |
| Common Stock | 17 |  | 68142 | 68159 |
| Warrants |  |  | 12984 | 12984 |
| Money Market Funds | 309345 |  |  | 309345 |
| **&nbsp;&nbsp;&nbsp;&nbsp; Total Investments, at Fair Value** | $**309362** | $**903646** | $**5247380** | $**6460388** |
| Interest Rate Swaps | $— | $12562 | $— | $12562 |
| Forward Foreign Currency Contracts |  | (68031) |  | (68031) |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

The changes in the Fund's investments at fair value for which the Fund has used Level 3 inputs to determine fair value and net change in unrealized appreciation (depreciation) included in earnings for Level 3 investments still held are as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** | **For the Nine Months Ended September 30, 2025** |
| | **Corporate Loans** | **Corporate Loans** | **Corporate Bonds** | **Corporate Bonds** | **Collateralized Loan Obligations** | **Asset-Backed Securities** | **Preferred Stock** | **Common Stock** | **Warrants** | **Total** |
| | **First Lien Debt** | **Second Lien Debt** | **Secured** | **Unsecured** | **Collateralized Loan Obligations** | **Asset-Backed Securities** | **Preferred Stock** | **Common Stock** | **Warrants** | **Total** |
| Balance, beginning of period | $2614483 | $153855 | $166657 | $59991 | $869949 | $267482 | $148109 | $85795 | $15548 | $4381869 |
| &nbsp;&nbsp;&nbsp;Purchases | 1061011 | 10157 | 92763 | 2645 | 260784 | 26462 | 117167 | 2256 |  | 1573245 |
| &nbsp;&nbsp;&nbsp;Sales and paydowns | (367074) | (25904) | (33793) |  | (268236) | (26426) | (44480) | (29963) | (1994) | (797870) |
| &nbsp;&nbsp;&nbsp;Accretion of discount (premium) | 10786 | 743 | 1010 | 46 | 1389 | 829 |  | 924 |  | 15727 |
| &nbsp;&nbsp;&nbsp;Net realized gains (losses) | (2149) | (1912) |  |  | (12229) | 470 | 661 | 5531 | 1415 | (8213) |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 54862 | (868) | 5531 | 4386 | 10197 | (3308) | 9234 | 3599 | (1985) | 81648 |
| &nbsp;&nbsp;&nbsp;Transfers into Level 3 | 21205 |  |  |  |  |  |  |  |  | 21205 |
| &nbsp;&nbsp;&nbsp;Transfers out of Level 3 | (18839) | (1392) |  |  |  |  |  |  |  | (20231) |
| Balance, end of period | $3374285 | $134679 | $232168 | $67068 | $861854 | $265509 | $230691 | $68142 | $12984 | $5247380 |
| Net change in unrealized appreciation (depreciation) included in earnings related to investments still held at the reporting date | $52148 | $(1942) | $5688 | $4386 | $(4705) | $(3676) | $9036 | $5447 | $(570) | $65812 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

The Fund generally uses the following framework when determining the fair value of investments that are categorized as Level 3:

Investments in debt securities are initially evaluated to determine whether the enterprise value of the portfolio company is greater than the applicable debt. The enterprise value of the portfolio company is estimated using a market approach and an income approach. The market approach utilizes market value (EBITDA) multiples of publicly traded comparable companies and available precedent sales transactions of comparable companies. The Fund carefully considers numerous factors when selecting the appropriate companies whose multiples are used to value its portfolio companies. These factors include, but are not limited to, the type of organization, similarity to the business being valued, relevant risk factors, as well as size, profitability and growth expectations. The income approach typically uses a discounted cash flow analysis of the portfolio company.

Investments in debt securities that do not have sufficient coverage through the enterprise value analysis are valued using an asset approach, which is based on an expected probability of default and discount recovery analysis.

Investments in debt securities with sufficient coverage through the enterprise value analysis are generally valued using a discounted cash flow analysis of the underlying security. Projected cash flows in the discounted cash flow typically represent the relevant security's contractual interest, fees and principal payments plus the assumption of full principal recovery at the security's expected maturity date. The discount rate to be used is determined using market-based methodologies. Investments in debt securities may also be valued using consensus pricing.

The fair value of CLOs is estimated based on various valuation models from third-party pricing services. Those analyses consider the current trading activity, position size, liquidity, current financial condition of the CLOs, the third-party financing environment, reinvestment rates, recovery lags, discount rates, and default forecasts. The Fund corroborates quotations from pricing services either with other available pricing data and subsequent or recent trading information. These securities are classified as Level 3.

The fair value of asset-backed securities ("ABS") is generally valued by third-party pricing services that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. The pricing models for these securities usually consider tranche-level attributes, current market data, estimated cash flows and market-based yield spreads for each tranche, and incorporate deal collateral performance, as available. These securities are classified as Level 3.

Investments in equities are generally valued using an income approach, market approach, and/or consensus pricing. The income approach typically uses a discounted cash flow analysis of the portfolio company. The market approach utilizes EBITDA multiples of publicly traded comparable companies and available precedent sales transactions of comparable companies.

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**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

The following table summarizes the quantitative information related to the significant unobservable inputs for Level 3 instruments which are carried at fair value as of September 30, 2025:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Fair Value as of September 30, 2025** | **Valuation Techniques** | **Significant Unobservable Inputs** | **Range** | **Range** | **Range** | **Range** | **Weighted Average** | **Weighted Average** | **Impact to Valuation from Increase in Input** |
| | **Fair Value as of September 30, 2025** | **Valuation Techniques** | **Significant Unobservable Inputs** | **Low** | **Low** | **High** | **High** | **Weighted Average** | **Weighted Average** | **Impact to Valuation from Increase in Input** |
| Corporate Loans |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;First Lien Debt | $2993218 | Income Approach | Discount Rate | 6.7 | % | 18.8 | % | 10.8 | % | Lower |
|  | 321709 | Consensus Pricing | Indicative Quotes | 0.25 |  | 100.50 |  | 96.42 |  | Higher |
|  | 59358 | Market Approach | Comparable Multiple | 8.50 | x | 11.30 | x | 9.52 | x | Higher |
| &nbsp;&nbsp;&nbsp;&nbsp;Second Lien Debt | 130478 | Income Approach | Discount Rate | 10.3 | % | 18.8 | % | 13.8 | % | Lower |
|  | 3768 | Consensus Pricing | Indicative Quotes | 89.58 |  | 98.83 |  | 94.44 |  | Higher |
|  | 433 | Asset Approach | N/A |  |  |  |  |  |  | N/A |
| Corporate Bonds |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Secured | 232168 | Income Approach | Discount Rate | 8.4 | % | 20.4 | % | 10.0 | % | Lower |
| &nbsp;&nbsp;&nbsp;&nbsp;Unsecured | 67068 | Income Approach | Discount Rate | 7.6 | % | 12.4 | % | 10.0 | % | Lower |
| Collateralized Loan Obligations | 860872 | Consensus Pricing | Indicative Quotes | 1.58 |  | 103.27 |  | 95.43 |  | Higher |
|  | 982 | Income Approach | Discount Rate | 20.0 | % | 20.0 | % | 20.0 | % | Lower |
| Asset-Backed Securities | 129870 | Income Approach | Discount Rate | 3.0 | % | 16.7 | % | 8.1 | % | Lower |
|  | 135639 | Consensus Pricing | Indicative Quotes | 99.23 |  | 76000.00 |  | 22848.48 |  | Higher |
| Preferred Stock | 225640 | Income Approach | Discount Rate | 12.1 | % | 21.0 | % | 14.4 | % | Lower |
|  | 5051 | Market Approach | Comparable Multiple | 9.50 | x | 20.11 | x | 18.78 | x | Higher |
| Common Stock | 60565 | Income Approach | Discount Rate | 5.0 | % | 20.5 | % | 20.3 | % | Lower |
|  | 212 | Recent Transaction | Transaction Price | 100.0 | % | 100.0 | % | 100.0 | % | Higher |
|  | 7365 | Market Approach | Comparable Multiple | 2.32 | x | 21.30 | x | 10.25 | x | Higher |
| Warrants | 12984 | Market Approach | Comparable Multiple | 10.25 | x | 16.00 | x | 11.36 | x | Higher |
| Total Level 3 Investments | $5247380 |  |  |  |  |  |  |  |  |  |

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**4. RISK FACTORS**

**Investment Risks**

*Portfolio Fair Value Risk*

Under the Investment Company Act, the Fund is required to carry its portfolio investments at market value or, if there is no readily available market value, at fair value. There is not a public market for the securities of the privately held companies in which the Fund may invest. Many of the Fund's investments are not exchange-traded, but are, instead, traded on a privately negotiated over-the-counter ("OTC") secondary market for institutional investors. The Adviser, as valuation designee, is responsible for the valuation of the Fund's portfolio investments and implementing the portfolio valuation process set forth in the Adviser's and the Fund's valuation policy. Valuations of Fund investments are disclosed quarterly in reports publicly filed with the U.S. Securities and Exchange Commission ("SEC").

A high proportion of the Fund's investments relative to its total investments are valued at fair value. Certain factors that may be considered in determining the fair value of the Fund's investments include dealer quotes for securities traded on the OTC secondary market for institutional investors, the nature and realizable value of any collateral, the portfolio company's earnings and its ability to make payments on its indebtedness, the markets in which the portfolio company does business, comparison to selected publicly-traded companies, discounted cash flow and other relevant factors. The factors and methodologies used for the valuation of such securities are not necessarily an indication of the risks associated with investing in those securities nor can it be assured that the Fund can realize the fair value assigned to a security if it were to sell the security. Such valuations, and particularly valuations of private securities and private companies, are inherently uncertain, and they often reflect only periodic information received by the Adviser about such companies' financial condition and/or business operations, which may be on a lagged basis and

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**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

can be based on estimates. Determinations of fair value may differ materially from the values that would have been used if an exchange-traded market for these securities existed. Investments in private companies are typically governed by privately negotiated credit agreements and covenants, and reporting requirements contained in the agreements may result in a delay in reporting their financial position to lenders, which in turn may result in the Fund's investments being valued on the basis of this reported information. Further, the Fund is offered on a daily basis and calculates a daily NAV per Share. The Adviser seeks to evaluate on a daily basis material information about the Fund's portfolio companies; however, for the reasons noted herein, the Adviser may not be able to acquire and/or evaluate properly such information on a daily basis. Due to these various factors, the Adviser's fair value determinations could cause the Fund's NAV on a valuation day to materially differ from what it would have been had such information been fully incorporated. As a result, investors who purchase shares may receive more or less shares and investors who tender their shares may receive more or less cash proceeds than they otherwise would receive.

*Potential Conflicts of Interest Risk—Allocation of Investment Opportunities*

The Adviser has adopted allocation procedures that are intended to treat each fund they advise in a manner that, over a period of time, is fair and equitable. The Adviser and its affiliates currently provide investment advisory and administration services and may provide in the future similar services to other entities (collectively, "Advised Funds"). Certain existing Advised Funds have, and future Advised Funds may have, investment objectives similar to those of the Fund, and such Advised Funds will invest in asset classes similar to those targeted by the Fund. Certain other existing Advised Funds do not, and future Advised Funds may not, have similar investment objectives, but such funds may from time to time invest in asset classes similar to those targeted by the Fund. The Adviser will endeavor to allocate investment opportunities in a fair and equitable manner, and in any event consistent with any fiduciary duties owed to the Fund and other clients and in an effort to avoid favoring one client over another and taking into account all relevant facts and circumstances, including (without limitation): (i) differences with respect to available capital, size of client, and remaining life of a client; (ii) differences with respect to investment objectives or current investment strategies, including regarding: (a) current and total return requirements, (b) emphasizing or limiting exposure to the security or type of security in question, (c) diversification, including industry or company exposure, currency and jurisdiction, or (d) rating agency ratings; (iii) differences in risk profile at the time an opportunity becomes available; (iv) the potential transaction and other costs of allocating an opportunity among various clients; (v) potential conflicts of interest, including whether a client has an existing investment in the security in question or the issuer of such security; (vi) the nature of the security or the transaction, including minimum investment amounts and the source of the opportunity; (vii) current and anticipated market and general economic conditions; (viii) existing positions in a borrower/loan/security; and (ix) prior positions in a borrower/loan/security. Nevertheless, it is possible that the Fund may not be given the opportunity to participate in certain investments made by investment funds managed by investment managers affiliated with the Adviser.

*Loans*

The Fund invests in loans, either through primary issuances or in secondary transactions, including potentially on a synthetic basis. The value of the Fund's loans may be detrimentally affected to the extent a borrower defaults on its obligations. There can be no assurance that the value assigned by the Adviser can be realized upon liquidation, nor can there be any assurance that any related collateral will retain its value. Furthermore, circumstances could arise (such as in the bankruptcy of a borrower) that could cause the Fund's security interest in the loan's collateral to be invalidated. Also, much of the collateral will be subject to restrictions on transfer intended to satisfy securities regulations, which will limit the number of potential purchases if the Fund intends to liquidate such collateral. The amount realizable with respect to a loan may be detrimentally affected if a guarantor, if any, fails to meet its obligations under a guarantee. Finally, there may be a monetary, as well as a time cost involved in collecting on defaulted loans and, if applicable, taking possession of various types of collateral.

The portfolio may include first lien senior secured, second and third lien loans and any other loans.

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**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

*Asset-Backed Securities ("ABS")*

ABS are a form of structured debt obligation. In addition to the general risks associated with credit or debt securities discussed herein, ABS are subject to additional risks. While traditional fixed-income securities typically pay a fixed rate of interest until maturity, when the entire principal amount is due, an ABS represents an interest in a pool of assets, such as automobile loans, credit card receivables, home loans, solar loans, unsecured consumer loans or student loans, that has been securitized and provides for monthly payments of interest, at a fixed or floating rate, and principal from the cash flow of these assets. This pool of assets (and any related assets of the issuing entity) is the only source of payment for the ABS. The ability of an ABS issuer to make payments on the ABS, and the timing of such payments, is therefore dependent on collections on these underlying assets. The recoveries on the underlying collateral (if any) may not, in some cases, be sufficient to support payments on these securities, which may result in losses to investors in an ABS. In many circumstances, ABS are not secured by an interest in the related collateral. Credit card receivables, for example, are generally unsecured and the debtors are entitled to the protection of a number of state and federal consumer loan laws, many of which give such debtors the right to set off certain amounts owed on the credit cards, thereby reducing the balance due. Generally, obligors may prepay the underlying assets in full or in part at any time, subjecting the Fund to prepayment risk related to the ABS it holds. While the expected repayment streams on ABS are determined by the contractual amortization schedules for the underlying assets, an investor's yield to maturity on an ABS is uncertain and may be reduced by the rate and speed of prepayments of the underlying assets, which may be influenced by a variety of economic, social and other factors. During periods of declining interest rates, prepayment of loans underlying ABS can be expected to accelerate. Accordingly, the Fund's ability to maintain positions in such securities will be affected by reductions in the principal amount of such securities resulting from prepayments. Any prepayments, repurchases, purchases or liquidations of the underlying assets could shorten the average life of the ABS to an extent that cannot be fully predicted. Some ABS may be structured to include a period of rapid amortization triggered by events such as a significant rise in the default rate of the underlying collateral, a sharp drop in the credit enhancement level because of credit losses on the underlying assets, a specified regulatory event or the bankruptcy of the originator. A rapid amortization event will cause any revolving period to end earlier than expected and all collections on the underlying assets will be used to pay principal to investors earlier than expected. In general, the senior most securities will be paid prior to any payments being made on the subordinated securities, and if such payments are made earlier than expected, the Fund's yield on such ABS may be negatively affected.

*Collateralized Loan Obligations ("CLOs")*

The Fund invests in CLOs. CLOs are backed by a portfolio of senior secured loans. The Fund's CLO investments may include senior/mezzanine CLO debt tranches (rated investment grade), mezzanine CLO debt tranches (rated below investment grade or unrated), subordinated CLO equity tranches (unrated), leveraged loans (including warehouse facilities that hold such loans) and vehicles that invest indirectly in CLO securities or leveraged loans. If there are defaults or the relevant collateral otherwise underperforms, scheduled payments to senior tranches of such securities take precedence over those of mezzanine tranches, and scheduled payments to mezzanine tranches have a priority in right of payment to subordinated/equity tranches. However, it is possible that a senior tranche of a CLO could experience losses, particularly in stressed market conditions, due to defaults, downgrades of the underlying collateral by rating agencies, forced liquidation of the collateral pool, increased sensitivity to defaults due to collateral default, market anticipation of defaults and investor aversion to CLO securities as an asset class. In light of the above, CLOs may therefore present risks similar to those of other types of debt obligations and, in fact, such risks may be of greater significance in the case of CLOs depending upon the Fund's ranking in the capital structure. In certain cases, losses may equal the total amount of the Fund's principal investment. Investments in structured vehicles, including equity and junior debt securities issued by CLOs, involve risks, including credit risk and market risk. Changes in interest rates and credit quality may cause significant price fluctuations. In addition to the general risks associated with investing in debt securities, CLO securities carry additional risks, including: (1) the possibility that distributions from collateral assets will not be adequate to make interest or other payments; (2) the quality of the collateral may decline in value or default; (3) investments in CLO equity and junior debt tranches will likely be subordinate in right of payment to other senior classes of CLO debt; and (4) the complex structure of a particular security may be subject to different interpretations and may produce disputes with the issuer or unexpected investment results, especially during times of market stress or volatility. Additionally, changes in the collateral held by a CLO may cause payments on the instruments held by the Fund to be reduced, either temporarily or permanently.

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**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

*Securities on a When-Issued or Forward Commitment Basis*

The Fund may purchase securities on a "when-issued" basis and may purchase or sell securities on a "forward commitment" basis to acquire the security or to hedge against anticipated changes in interest rates and prices. When such transactions are negotiated, the price is fixed at the time the commitment is made, but delivery and payment for the securities take place at a later date. When-issued securities and forward commitments may be sold prior to the settlement date, but the Fund will enter into when-issued and forward commitments only with the intention of actually receiving or delivering the securities, as the case may be. If the Fund disposes of the right to acquire a when-issued security prior to its acquisition or disposes of its right to deliver or receive against a forward commitment, it might incur a gain or loss. There is always a risk that the securities may not be delivered and that the Fund may incur a loss. Settlements in the ordinary course, which may take substantially more than five business days, are not treated by the Fund as when-issued or forward commitment transactions. The settlements of secondary market purchases of senior loans in the ordinary course, on a settlement date beyond the period expected by loan market participants are subject to delayed compensation. Furthermore, the purchase of a senior loan in the secondary market is typically negotiated and finalized pursuant to a binding trade confirmation, and therefore, the risk of non-delivery of the security to the Fund is reduced or eliminated when compared with such risk when investing in when-issued or forward commitment securities.

*Covenant-Lite Loans Risk*

Some of the loans in which the Fund may invest may be "covenant-lite" loans. "Covenant-lite" loans refer generally to loans that do not have a complete set of financial maintenance covenants. Generally, "covenant-lite" loans provide borrower companies more freedom to negatively impact lenders because their covenants are incurrence-based, which means they are only tested and can only be breached following an affirmative action of the borrower, rather than by a deterioration in the borrower's financial condition. Accordingly, to the extent the Fund invests in "covenant-lite" loans, the Fund may have fewer rights against a borrower and may have a greater risk of loss on such investments as compared to investments in or exposure to loans with financial maintenance covenants.

*Equity Security Risk*

Stocks and other equity securities fluctuate in price and the value of the Fund's portfolio may be affected by changes in the equity markets generally. Equity markets may experience significant short-term volatility and may fall sharply at times. Different markets may behave differently from each other and U.S. equity markets may move in the opposite direction from one or more foreign stock markets. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. The prices of individual equity securities generally do not all move in the same direction at the same time and a variety of factors can affect the price of a particular company's securities. These factors may include, but are not limited to, poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the company's sector or industry, or changes in government regulations affecting the company or its industry.

*Risks of Foreign Investing*

The Fund may make investments in non-U.S. entities, including issuers in emerging markets. The Fund expects that its investment in non-U.S. issuers will be made primarily in securities that are foreign currency denominated. Some non-U.S. securities may be less liquid and more volatile than securities of comparable U.S. issuers.

*Real Assets Investments Risk*

The Fund may invest a portion of its assets in securities and credit instruments associated with real assets, including infrastructure and aviation, which have historically experienced substantial price volatility. The value of companies engaged in these industries is affected by (i) changes in general economic and market conditions; (ii) the destruction of real assets, catastrophic events (such as earthquakes, wildfires, floods, hurricanes, tornadoes, man-made disasters, and terrorist acts) and other public crises and relief responses; (iii) changes in environmental, governmental and other regulations; (iv) risks related to local economic conditions, overbuilding and increased competition; (v) increases in property taxes and operating expenses; (vi) changes in zoning laws; (vii) casualty and condemnation losses;

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**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

(viii) surplus capacity and depletion concerns; (ix) the availability of financing; and (x) changes in interest rates and leverage. In addition, the availability of attractive financing and refinancing typically plays a critical role in the success of these investments. As a result, such investments are subject to credit risk because borrowers may be delinquent in payment or default. Borrower delinquency and default rates may be significantly higher than estimated. The Adviser's assessment, or a rating agency's assessment, of borrower credit quality may prove to be overly optimistic. The value of securities in these industries may go through cycles of relative under-performance and over-performance in comparison to equity securities markets in general.

*Real Estate Investments Risk*

The Fund may invest a portion of its assets in securities and credit instruments of companies in the real estate industry, which has historically experienced substantial price volatility. The value of companies engaged in the real estate industry is affected by (i) changes in general economic and market conditions; (ii) changes in the value of real estate properties; (iii) risks related to local economic conditions, overbuilding and increased competition; (iv) increases in property taxes and operating expenses; (v) changes in zoning laws; (vi) casualty and condemnation losses; (vii) variations in rental income, neighborhood values or the appeal of property to tenants; (viii) the availability of financing; and (ix) changes in interest rates and leverage. In addition, the availability of attractive financing and refinancing typically plays a critical role in the success of real estate investments. As a result, such investments are subject to credit risk because borrowers may be delinquent in payment or default. Borrower delinquency and default rates may be significantly higher than estimated. The Adviser's assessment, or a rating agency's assessment, of borrower credit quality may prove to be overly optimistic. The value of securities in this industry may go through cycles of relative under-performance and over-performance in comparison to equity securities markets in general.

*Interest Rate Swaps Risk* 

The Fund may enter into interest rate swap agreements with another party to receive or pay interest (e.g., an exchange of fixed rate payments for floating rate payments) to protect itself from interest rate fluctuations. This type of swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to a specified interest rate(s) for a specified amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. Interest rate swap agreements are subject to general market risk, liquidity risk, counterparty risk and interest rate risk.

*Corporate Bond Risk*

Corporate bonds are debt obligations issued by corporations and other business entities. Corporate bonds may be either secured or unsecured. Collateral used for secured debt includes real property, machinery, equipment, accounts receivable, stocks, bonds or notes. If a bond is unsecured, it is known as a debenture. Bondholders, as creditors, have a prior legal claim over common and preferred stockholders as to both income and assets of the corporation for the principal and interest due them and may have a prior claim over other creditors if liens or mortgages are involved. Interest on corporate bonds may be fixed or floating, or the bonds may be zero coupons. Interest on corporate bonds is typically paid semi-annually and is fully taxable to the bondholder. Corporate bonds contain elements of both interest-rate risk and credit risk and are subject to the risks associated with other debt securities, among other risks. The market value of a corporate bond generally may be expected to rise and fall inversely with interest rates and may also be affected by the credit rating of the corporation, the corporation's performance and perceptions of the corporation in the marketplace. Depending on the nature of the seniority provisions, a senior corporate bond may be junior to other credit securities of the issuer. The market value of a corporate bond may be affected by factors directly related to the issuer, such as investors' perceptions of the creditworthiness of the issuer, the issuer's financial performance, perceptions of the issuer in the marketplace, performance of management of the issuer, the issuer's capital structure and use of financial leverage and demand for the issuer's goods and services. There is a risk that the issuers of corporate bonds may not be able to meet their obligations on interest or principal payments at the time called for by an instrument. Corporate bonds of below investment grade quality are often high risk and have speculative characteristics and may be particularly susceptible to adverse issuer-specific developments.

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**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

**Market Risks**

The success of the Fund's activities will be affected by general economic and market conditions, such as interest rates, availability of credit, credit defaults, inflation rates, economic uncertainty, changes in laws (including laws relating to taxation of the Fund's investments), trade barriers, the imposition of tariffs, currency exchange controls, disease outbreaks, pandemics, and national and international political, environmental and socioeconomic circumstances (including wars, terrorist acts or security operations). In addition, the current U.S. political environment and the resulting uncertainties regarding actual and potential shifts in U.S. foreign investment, trade, taxation, economic, environmental and other policies under the current Administration, as well as the impact of heightened geopolitical tensions (including those between the United States and China, Taiwan and mainland China, Israel and Iran and the Axis of Resistance, and between Ukraine and Russia) or other systemic issues or industry-specific economic disruptions, could lead to disruption, instability and volatility in the global markets. The U.S. government may renegotiate some of its global trade relationships with foreign governments and may impose or threaten to impose significant tariffs. The imposition of tariffs, trade restrictions, currency restrictions or similar actions (or retaliatory measures taken in response to such actions) could lead to price volatility and overall declines in the U.S. and global investment markets. Unfavorable economic conditions also would be expected to increase our funding costs, limit our access to the capital markets or result in a decision by lenders not to extend credit to us.

Economic sanctions may be, and have been, imposed against certain countries, organizations, companies, entities and/or individuals. Economic sanctions and other similar governmental actions or developments could, among other things, effectively restrict or eliminate the Fund's ability to purchase or sell certain foreign securities or groups of foreign securities, and thus may make the Fund's investments in such securities less liquid or more difficult to value. Such sanctions may also cause a decline in the value of securities issued by the sanctioned country or companies located in or economically tied to the sanctioned country. In addition, as a result of economic sanctions and other similar governmental actions or developments, the Fund may be forced to sell or otherwise dispose of foreign investments at inopportune times or prices.

Current and historic market turmoil has illustrated that market environments may, at any time, be characterized by uncertainty, volatility and instability. Serious economic disruptions may result in governmental authorities and regulators enacting significant fiscal and monetary policy changes, including by providing direct capital infusions into companies, introducing new monetary programs and considerably increasing or lowering interest rates, which, in some cases resulted in negative interest rates.

U.S. and global markets have also experienced increased volatility as a result of the failures of certain U.S. and non-U.S. banks, which could be harmful to the Fund and issuers in which it invests. For example, if a bank in which the Fund or issuer has an account fails, any cash or other assets in bank accounts may be temporarily inaccessible or permanently lost by the Fund or issuer. If a bank that provides a subscription line credit facility, asset-based facility, other credit facility and/or other services to the Fund or an issuer fails, the Fund or the issuer could be unable to draw funds under its credit facilities or obtain replacement credit facilities or other services from other lending institutions with similar terms. Even if banks used by the Fund and issuers in which the Fund invests remain solvent, continued volatility in the banking sector could cause or intensify an economic recession, increase the costs of banking services or result in the issuers being unable to obtain or refinance indebtedness at all or on as favorable terms as could otherwise have been obtained. Continued market volatility and uncertainty and/or a downturn in market and economic and financial conditions, as a result of developments in the banking industry or otherwise (including as a result of delayed access to cash or credit facilities), could have an adverse impact on the Fund and issuers in which it invests.

*Inflation Risk*

Inflation risk is the risk that the value of certain assets or income from the Fund's investments will be worth less in the future as inflation decreases the value of money. As inflation increases, the real value of investments and distributions can decline. Therefore, the income generated by debt investments may not keep pace with inflation. In addition, during any periods of rising inflation, the dividend rates or borrowing costs associated with the Fund's use of leverage would likely increase, which would tend to further reduce returns to shareholders. Furthermore, actions by governments and central banking authorities can result in changes in interest rates. Periods of higher inflation could cause such authorities to raise interest rates, and vice versa, which may adversely impact the Fund and its investments.

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**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

*Interest Rate Risk*

As of September 30, 2025, on a fair value basis, approximately 10% of the Fund's debt investments bear interest at a fixed rate and approximately 90% of the Fund's debt investments bear interest at a floating rate, which primarily are subject to interest rate floors. Interest rates on the investments held within the Fund's portfolio of investments are typically based on floating SOFR, with many of these investments also having a SOFR floor. Additionally, the Fund's credit facilities are also subject to floating interest rates and are currently paid based on floating EURIBOR, SOFR and SONIA rates.

General interest rate fluctuations and changes in credit spreads on floating rate loans may have a substantial negative impact on the Fund's investments and investment opportunities and, accordingly, may have a material adverse effect on the Fund's rate of return on invested capital, the Fund's net investment income and the Fund's NAV.

The Fund may be exposed to medium- to long-term spread duration securities. Longer spread duration securities have a greater adverse price impact to increases in interest rates.

The Adviser regularly measures exposure to interest rate risk. Interest rate risk is assessed on an ongoing basis by comparing the Fund's interest rate sensitive assets to its interest rate sensitive liabilities. Based on that review, the Adviser determines whether or not any hedging transactions are necessary to mitigate exposure to changes in interest rates.

*Payment-in-Kind ("PIK") Income Risk*

The Fund may hold investments that result in PIK interest income or PIK dividends. PIK income creates the risk that incentive fees will be paid to the Adviser based on non-cash accruals that ultimately may not be realized, while the Adviser will be under no obligation to reimburse the Fund for these fees. PIK income may have a negative impact on liquidity, as it represents a non-cash component of the Fund's taxable income that may require cash distributions to shareholders in order to maintain the Fund's ability to be subject to tax as a RIC. PIK income has the effect of generating investment income at a compounding rate, thereby further increasing the incentive fees payable to the Adviser. Similarly, all things being equal, the deferral associated with PIK income also increases the loan-to-value ratio at a compounding rate. The market prices of PIK securities generally are more volatile than the market prices of interest-bearing securities and are likely to respond to a greater degree to changes in interest rates than interest-bearing securities having similar maturities and credit quality. Because PIK income results in an increase in the size of the PIK securities held, the Fund's exposure to potential losses increases when a security pays PIK income.

*Unitranche Loans*

Unitranche loans provide leverage levels comparable to a combination of first lien and second lien or subordinated loans. From the perspective of a lender, in addition to making a single loan, a unitranche loan may allow the lender to choose to participate in the "first out" tranche, which will generally receive priority with respect to payments of principal, interest and any other amounts due, or to choose to participate only in the "last out" tranche, which is generally paid after the "first out" tranche is paid. The Fund intends to participate in "first out" and "last out" tranches of unitranche loans and make single unitranche loans.

*Regulatory Risk*

Government regulation and/or intervention may change the way the Fund is regulated, affect the expenses incurred directly by the Fund, affect the value of its investments and limit the Fund's ability to achieve its investment objective. Government regulation may change frequently and may have significant adverse consequences. Moreover, government regulation may have unpredictable and unintended effects. In addition to exposing the Fund to potential new costs and expenses, additional regulation or changes to existing regulation may also require changes to the Fund's investment practices.

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

*Credit Risk*

Credit risk relates to the ability of the borrower under an instrument to make interest and principal payments as they become due. The Fund's investments in loans and other debt instruments are subject to risk of missing an interest and/or principal payment.

*Credit Spread Risk*

Credit spread risk is the risk that credit spreads (i.e., the difference in yield between securities that is due to differences in their credit quality) may increase when the market expects below-investment-grade bonds to default more frequently. Widening credit spreads may quickly reduce the market values of below-investment-grade and unrated securities. In recent years, the U.S. capital markets experienced extreme volatility and disruption following the spread of COVID-19, the impact of heightened geopolitical tensions (including those between the United States and China, Taiwan and mainland China, Israel and Iran and the Axis of Resistance, and between Ukraine and Russia) and other economic disruptions, which increased the spread between yields realized on risk-free and higher risk securities, resulting in illiquidity in parts of the capital markets. Central banks and governments played a key role in reintroducing liquidity to parts of the capital markets. Future exits of these financial institutions from the market may reintroduce temporary illiquidity. These and future market disruptions and/or illiquidity would be expected to have an adverse effect on the Fund's business, financial condition, results of operations and cash flows.

*Prepayment Risk* 

Prepayment risk relates to the early repayment of principal on a loan or debt security. Loans are generally callable at any time, and certain loans may be callable at any time at no premium to par. Having the loan or other debt instrument called early may have the effect of reducing the Fund's actual investment income below its expected investment income if the capital returned cannot be invested in transactions with equal or greater yields.

*Volatility Risk*

Volatility risk refers to the magnitude of the movement, but not the direction of the movement, in a financial instrument's price over a defined time period. Large increases or decreases in a financial instrument's price over a relative time period typically indicate greater volatility risk, while small increases or decreases in its price typically indicate lower volatility risk.

*Equity Risk*

Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the general market.

*Foreign Exchange Rate Risk*

Foreign exchange rate risk relates to the change in the U.S. dollar value of a security held that is denominated in a foreign currency. The U.S. dollar value of a foreign currency denominated security will decrease as the dollar appreciates against the currency, while the U.S. dollar value will increase as the dollar depreciates against the currency.

*Currency Hedging Risk*

The Adviser may seek to hedge all or a portion of the Fund's foreign currency risk. For example, the Fund may enter into foreign currency forward contracts to reduce the Fund's exposure to foreign currency exchange rate fluctuations in the value of foreign currencies. In a foreign currency forward contract, the Fund agrees to receive or deliver a fixed quantity of one currency for another, at a pre-determined price at a future date. Forward foreign currency contracts are marked-to-market at the applicable forward rate. There is no guarantee that it will be practical to hedge currency risks or that any efforts to do so will be successful. The use of foreign currency forward contracts is a highly specialized activity that involves investment techniques and risks different from those associated with investments in

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

more traditional securities and instruments, and there is no guarantee that the use of foreign currency forward contracts will achieve their intended result. If the Adviser is incorrect in its expectation of the timing or level of fluctuation in securities prices, currency prices or other variables, the use of foreign currency forward contracts could result in losses, which in some cases may be significant. A lack of correlation between changes in the value of foreign currency forward contracts and the value of the portfolio assets (if any) being hedged could also result in losses.

*Cybersecurity Risk*

Cybersecurity incidents and cyber-attacks have been occurring globally at a more frequent and severe level and will likely continue to increase in frequency in the future. The Adviser faces various security threats on a regular basis, including ongoing cyber security threats to and attacks on its information technology infrastructure that are intended to gain access to its proprietary information, destroy data or disable, degrade or sabotage its systems. These security threats could originate from a wide variety of sources, including unknown third parties outside of the Adviser. Recent geopolitical tensions may have increased the scale and sophistication of deliberate cyber attacks and other disruptions, particularly from nation-states or entities with nation-state backing. Although the Adviser is not currently aware that it has been subject to cyber-attacks or other cyber incidents which, individually or in the aggregate, have materially affected its operations or financial condition, there can be no assurance that the various procedures and controls utilized to mitigate these threats will be sufficient to prevent disruptions to its systems.

**5. COMMITMENTS AND CONTINGENCIES**

As of September 30, 2025, the Fund had unfunded commitments to fund delayed draw and revolving debt of $472,758 and $126,413, respectively, along with equity investments of $5,839. The fair value of the unfunded positions is included in the investments at fair value on the Consolidated Schedule of Investments.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Type** | **Footnote** | **Unused Rate** | **Par / Principal Amount** | **Fair Value** |
| 1251 Insurance Distribution Platform Payco, LP | Revolver |  | 0.50% | $2060 | $(12) |
| 222 North Miami, LLC | Delayed Draw |  | —% | 1150 | 23 |
| 520 Mezz Owner 2, LLC | Delayed Draw |  | —% | 5734 | 29 |
| AAH Topco, LLC | Delayed Draw |  | 1.00% | 893 | (5) |
| Advanced Web Technologies Holding Company | Delayed Draw |  | 1.00% | 1232 | (1) |
| Advanced Web Technologies Holding Company | Revolver |  | 0.50% | 751 | (1) |
| Align Precision Group, LLC | Delayed Draw |  | 1.00% | 412 |  |
| Alpine Acquisition Corp. II | Revolver |  | 0.50% | 695 | (353) |
| AmpersCap LLC | Delayed Draw |  | 1.00% | 35275 | (361) |
| AP Plastics Acquisition Holdings, LLC | Delayed Draw |  | 1.00% | 580 |  |
| AP Plastics Acquisition Holdings, LLC | Revolver |  | 0.50% | 220 |  |
| Apex Companies Holdings, LLC | Delayed Draw |  | 1.00% | 4071 | (2) |
| Applied Technical Services, LLC | Delayed Draw |  | 2.00% | 554 | (3) |
| Applied Technical Services, LLC | Delayed Draw |  | 1.00% | 1260 | (7) |
| Applied Technical Services, LLC | Revolver |  | 0.50% | 2117 | (12) |
| Appriss Health, LLC | Revolver |  | 0.50% | 965 |  |
| Artifact Bidco, Inc. | Delayed Draw |  | 0.50% | 4310 | 22 |
| Artifact Bidco, Inc. | Revolver |  | 0.35% | 3079 |  |
| Ascend Buyer, LLC | Revolver |  | 0.50% | 2448 | (7) |
| Associations, Inc. | Delayed Draw |  | —% | 1888 | 9 |
| Associations, Inc. | Revolver |  | 0.50% | 2441 |  |
| Athlete Buyer, LLC | Delayed Draw |  | 1.00% | 10786 | (1342) |
| Athlete Buyer, LLC | Revolver |  | 0.50% | 569 | (71) |
| Atlas US Finco, Inc. | Revolver |  | 0.50% | 1740 |  |
| AuditBoard, Inc. | Delayed Draw |  | 0.75% | 7143 | (34) |
| AuditBoard, Inc. | Revolver |  | 0.50% | 2857 | (13) |
| Azurite Intermediate Holdings, Inc. | Revolver |  | 0.50% | 2385 |  |
| Bedford Beverly B, LLC | Delayed Draw |  | —% | 6692 |  |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Type** | **Footnote** | **Unused Rate** | **Par / Principal Amount** | **Fair Value** |
| Bianalisi S.p.A. | Delayed Draw | (1) | 1.25% | 10415 | (208) |
| Big Bus Tours Bidco Ltd. | Delayed Draw |  | 1.50% | 1833 | (50) |
| Bingo Group Buyer, Inc. | Delayed Draw |  | 0.75% | 459 |  |
| Bingo Group Buyer, Inc. | Revolver |  | 0.50% | 993 |  |
| Birsa S.p.A. | Delayed Draw | (1) | 1.25% | 9311 | (140) |
| BradyPLUS Holdings, LLC | Delayed Draw |  | 1.00% | 523 |  |
| Bullhorn, Inc. | Delayed Draw |  | 1.00% | 1387 | (8) |
| Bullhorn, Inc. | Revolver |  | 0.50% | 1198 | (7) |
| Celerion Buyer, Inc. | Delayed Draw |  | 1.00% | 249 | 1 |
| Celerion Buyer, Inc. | Revolver |  | 0.50% | 125 |  |
| Cliffwater LLC | Revolver |  | 0.50% | 2599 | (10) |
| Clydesdale Acquisition Holdings, Inc. | Delayed Draw |  | —% | 150 |  |
| CoreWeave Compute Acquisition Co., IV, LLC | Delayed Draw |  | —% | 29317 | (439) |
| Coupa Holdings, LLC | Delayed Draw |  | 1.00% | 578 | 3 |
| Coupa Holdings, LLC | Revolver |  | 0.50% | 443 |  |
| CST Holding Company | Revolver |  | 0.50% | 235 | 1 |
| Dance Midco S.a.r.l. | Delayed Draw | (1) | 1.00% | 14447 | (144) |
| Deerfield Dakota Holding, LLC | Revolver |  | 0.50% | 5555 | (56) |
| Denali Intermediate Holdings, Inc. | Revolver |  | 0.50% | 719 | (7) |
| Denali Midco 2, LLC | Delayed Draw |  | 2.00% | 11683 | (59) |
| Diligent Corporation | Delayed Draw |  | 1.00% | 5160 | 26 |
| Diligent Corporation | Revolver |  | 0.50% | 3061 |  |
| Dwyer Instruments, Inc. | Delayed Draw |  | 1.00% | 2842 |  |
| Dwyer Instruments, Inc. | Revolver |  | 0.50% | 4972 |  |
| Einstein Parent, Inc. | Revolver |  | 0.50% | 4713 | (110) |
| Ellkay, LLC | Revolver |  | 0.50% | 1071 |  |
| Embark Intermediate Holdings, LLC | Delayed Draw |  | 1.00% | 4762 | (48) |
| Embark Intermediate Holdings, LLC | Revolver |  | 0.50% | 1190 | (12) |
| Enkindle Ltd. | Delayed Draw | (1) | 1.00% | 8762 | (219) |
| Enverus Holdings, Inc. | Delayed Draw |  | 1.00% | 259 | (1) |
| Enverus Holdings, Inc. | Revolver |  | 0.50% | 1423 | (4) |
| Espresso Bidco Inc. | Delayed Draw |  | 0.50% | 6422 | (33) |
| Espresso Bidco Inc. | Revolver |  | 0.50% | 2854 | (15) |
| Essential Services Holding Corp. | Delayed Draw |  | 1.00% | 5948 | (13) |
| Essential Services Holding Corp. | Revolver |  | 0.50% | 2974 | (7) |
| Excel Fitness Holdings, Inc. | Delayed Draw |  | 1.00% | 1869 |  |
| Excel Fitness Holdings, Inc. | Revolver |  | 0.50% | 891 |  |
| Excelitas Technologies Corp. | Delayed Draw |  | 1.00% | 7411 |  |
| Excelitas Technologies Corp. | Revolver |  | 0.38% | 1940 |  |
| FPG Intermediate Holdco, LLC | Delayed Draw |  | —% | 5 |  |
| Fullsteam Operations LLC | Delayed Draw |  | 1.00% | 2721 | (27) |
| Fullsteam Operations LLC | Revolver |  | 0.50% | 907 | (9) |
| Galileo Parent, Inc. | Revolver |  | 0.50% | 2474 |  |
| Greenhouse Software, Inc. | Revolver |  | 0.50% | 802 |  |
| GS AcquisitionCo, Inc. | Delayed Draw |  | 1.00% | 294 |  |
| GS AcquisitionCo, Inc. | Revolver |  | 0.50% | 435 |  |
| Guggenheim Investments Private Debt Fund IV Rated Note Feeder, LLC | Delayed Draw |  | 0.50% | 10289 | (155) |
| Gymspa SAS | Delayed Draw | (1) | 1.80% | 1625 | (33) |
| Hadrian Acquisition Limited | Delayed Draw | (1) | 2.33% | 10726 | 54 |
| Heartland Home Services, Inc. | Revolver |  | 0.50% | 403 | (12) |
| Hercules Borrower, LLC | Revolver |  | 0.50% | 720 | 2 |
| Holding Argon | Delayed Draw | (1) | 1.00% | 13945 | (139) |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Type** | **Footnote** | **Unused Rate** | **Par / Principal Amount** | **Fair Value** |
| Hoosier Intermediate, LLC | Revolver |  | 0.38% | 1800 |  |
| HS Spa Holdings Inc. | Revolver |  | 0.50% | 978 | (6) |
| Hyphen Solutions, LLC | Delayed Draw |  | —% | 837 | (4) |
| Hyphen Solutions, LLC | Revolver |  | 0.50% | 502 | (3) |
| IceFall Parent, Inc. | Revolver |  | 0.25% | 1240 |  |
| iCIMS, Inc. | Revolver |  | 0.50% | 1756 | (33) |
| IG Investments Holdings, LLC | Revolver |  | 0.50% | 325 | (1) |
| IQN Holding Corp. | Revolver |  | 0.38% | 253 | (2) |
| Janney Montgomery Scott, LLC | Delayed Draw |  | 1.63% | 929 | 2 |
| L Catterton Direct Lending Fund Rated Feeder LP | Delayed Draw |  | —% | 27090 | (110) |
| LDS Intermediate Holdings, LLC | Delayed Draw |  | 1.00% | 8927 | (89) |
| LDS Intermediate Holdings, LLC | Revolver |  | 0.50% | 4155 | (12) |
| Lofty Brickell LLC | Delayed Draw |  | 0.50% | 30405 | (303) |
| Material Holdings, LLC | Delayed Draw |  | —% | 1439 |  |
| Material Holdings, LLC | Revolver |  | —% | 144 |  |
| Medical Manufacturing Technologies, LLC | Revolver |  | 0.50% | 2603 |  |
| Merative LP | Delayed Draw |  | —% | 5647 | (28) |
| Merative LP | Revolver |  | 0.50% | 4941 | (25) |
| Monarch Buyer, Inc. | Delayed Draw |  | 0.50% | 7214 | (73) |
| Monarch Buyer, Inc. | Revolver |  | 0.50% | 3246 | (33) |
| More Cowbell II, LLC | Delayed Draw |  | 0.50% | 1112 |  |
| More Cowbell II, LLC | Revolver |  | 0.50% | 2113 |  |
| Nader Upside 2 S.a.r.l. | Delayed Draw | (1) | —% | 17924 | (448) |
| NEFCO Holding Company, LLC | Delayed Draw |  | 1.00% | 1551 |  |
| NEFCO Holding Company, LLC | Revolver |  | 0.50% | 2619 |  |
| North Haven Fairway Buyer, LLC | Revolver |  | 0.50% | 504 | (4) |
| North Haven Fairway Buyer, LLC | Delayed Draw |  | 1.00% | 4508 | (36) |
| Nuzoa Bidco, S.L.U. | Delayed Draw | (1) | 1.25% | 3383 | (68) |
| Oak Purchaser, Inc. | Delayed Draw |  | 0.50% | 2627 | (28) |
| Oak Purchaser, Inc. | Revolver |  | 0.50% | 824 | (2) |
| OnePoint SAS | Delayed Draw | (1) | 2.20% | 10139 | (75) |
| Optimizely North America, Inc. | Revolver |  | 0.50% | 1023 | (1) |
| Orthrus Ltd. | Delayed Draw | (1) | 0.50% | 2264 | (23) |
| PAM Bidco Ltd. | Delayed Draw | (1) | 3.23% | 3265 | (33) |
| PAM Bidco Ltd. | Delayed Draw | (1) | 2.19% | 11179 | (140) |
| PDI TA Holdings, Inc. | Revolver |  | 0.50% | 1390 | (16) |
| PF Atlantic Holdco 2, LLC | Delayed Draw |  | 1.00% | 5683 |  |
| PF Atlantic Holdco 2, LLC | Revolver |  | 0.50% | 1724 |  |
| Pinnacle Buyer, LLC | Delayed Draw |  | —% |  |  |
| Portugal Street East Limited | Delayed Draw | (1) | 2.00% | 7318 |  |
| PPV Intermediate Holdings, LLC | Delayed Draw |  | 1.00% | 7901 |  |
| Prophix Software Inc. | Delayed Draw |  | —% | 1912 | (5) |
| Prophix Software Inc. | Revolver |  | 0.50% | 836 | (2) |
| Propio LS, LLC | Revolver |  | 0.50% | 81 |  |
| PXO Holdings I Corp. | Revolver |  | 0.50% | 1085 | (18) |
| QBS Parent, Inc. | Delayed Draw |  | —% | 5288 | 24 |
| QBS Parent, Inc. | Revolver |  | 0.50% | 5227 |  |
| Radwell Parent LLC | Delayed Draw |  | 0.50% | 1979 |  |
| Radwell Parent LLC | Revolver |  | 0.38% | 1023 |  |
| Raven Acquisition Holdings, LLC | Delayed Draw |  | 0.50% | 556 |  |
| RFS OpCo, LLC | Delayed Draw |  | 1.00% | 3035 | (17) |
| Rialto Management Group, LLC | Revolver |  | 0.50% | 541 |  |
| Rome Bidco Ltd. | Delayed Draw | (1) | 2.71% | 783 | 27 |

---

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Type** | **Footnote** | **Unused Rate** | **Par / Principal Amount** | **Fair Value** |
| Rotation Buyer, LLC | Delayed Draw |  | 1.00% | 1692 | (14) |
| Rotation Buyer, LLC | Revolver |  | 0.50% | 672 | (5) |
| Santiago Holdings, LP | Equity | (2) | —% | 181 | (34) |
| Savor Acquisition, Inc. | Delayed Draw |  | —% | 259 | 1 |
| SCP Eye Care HoldCo, LLC | Delayed Draw |  | 1.00% | 471 |  |
| SCP Eye Care HoldCo, LLC | Revolver |  | 0.50% | 19 |  |
| Seahawk Bidco, LLC | Delayed Draw |  | 1.00% | 4304 | 6 |
| Seahawk Bidco, LLC | Revolver |  | 0.50% | 3499 |  |
| Sigma Irish AcquiCo Ltd. | Delayed Draw |  | 0.50% | 3859 | (58) |
| Smarsh, Inc. | Delayed Draw |  | 1.00% | 1020 | 5 |
| Smarsh, Inc. | Revolver |  | 0.50% | 551 |  |
| Speedstar Holding, LLC | Delayed Draw |  | 1.00% | 1314 | (25) |
| Spotless Brands, LLC | Delayed Draw |  | 1.00% | 14822 | (74) |
| Spotless Brands, LLC | Revolver |  | 0.50% | 658 |  |
| Tank Holding Corp. | Revolver |  | 0.38% | 1655 | (44) |
| The Chartis Group, LLC | Delayed Draw |  | 1.00% | 9560 |  |
| The Chartis Group, LLC | Revolver |  | 0.50% | 4780 | 42 |
| Total Power Limited | Delayed Draw | (1) | 1.00% | 1481 | (11) |
| Total Power Limited | Revolver | (1) | 0.50% | 1677 | (13) |
| Tufin Software North America, Inc. | Revolver |  | 0.50% | 3100 | (3) |
| United Flow Technologies Intermediate Holdco II, LLC | Delayed Draw |  | 1.00% | 7143 | 1 |
| United Flow Technologies Intermediate Holdco II, LLC | Revolver |  | 0.50% | 1117 |  |
| Vensure Employer Services, Inc. | Delayed Draw |  | 0.50% | 4916 | (40) |
| Whitney Merger Sub, Inc. | Revolver |  | 0.50% | 2448 | (24) |
| Wineshipping.com, LLC | Delayed Draw |  | —% | 1611 | (416) |
| Wineshipping.com, LLC | Revolver |  | 0.50% | 238 | (62) |
| YLG Holdings, Inc. | Delayed Draw |  | 0.50% | 39 |  |
| YLG Holdings, Inc. | Revolver |  | 0.50% | 42 |  |
| Zippy Shell Incorporated | Equity | (3) | —% | 5658 | (113) |
| &nbsp;&nbsp;&nbsp;Total Unfunded Commitments | &nbsp;&nbsp;&nbsp;Total Unfunded Commitments |  |  | $605010 | $(6485) |

---

(1) Par / Principal Amount is converted to USD using the applicable exchange rate: USD/CAD of 1.39, USD/EUR of 0.85, or USD/GBP of 0.74.

(2) Par / Principal Amount is based on the issuance price of $1.00 per share.

(3) Par / Principal Amount is based on the issuance price of $56.34 per share.

The Fund's organizational documents provide current and former Trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered to be remote.

**6. SUBSEQUENT EVENTS**

Subsequent events have been evaluated through the date the consolidated schedule of investments was issued. There have been no subsequent events that require recognition or disclosure through the date the consolidated schedule of investments was issued, except as disclosed below.

------

**CARLYLE TACTICAL PRIVATE CREDIT FUND**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**(amounts in thousands, except share and per share data, unless otherwise indicated)**

The Fund commenced a quarterly repurchase offer beginning on August 26, 2025 and ending on October 7, 2025 (the "Repurchase Pricing Date"). The following table summarizes the share repurchases completed following the Repurchase Pricing Date.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Repurchase Pricing Date** | **Shares Repurchased** | **Purchase Price per Share** | **Aggregate Consideration for Repurchased Shares** | **Size of Repurchase Offer** | **% of Outstanding Shares Offered to be Repurchased** | **% of Outstanding Shares Repurchased** |
| October 7, 2025 | 17341562 | $8.39 | $145547 | 27701772 | 5.00% | 3.13% |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Carlyle Tactical Private Credit Fund

- **b. Investment Company Act file number:** 811-23319

- **c. CIK number of Registrant:** 0001725472

- **d. LEI of Registrant:** 549300Y0XP7YS3BATY05

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

  - **Street Address 1:** One Vanderbilt Avenue, Suite 3400

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 833-677-3646

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

- **a. Name of Series:** Carlyle Tactical Private Credit Fund

- **c. LEI of Series:** 549300Y0XP7YS3BATY05

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

- **a. Date of fiscal year-end:** 2025-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $6763214321.85

**Total Liabilities:** $2145096326.50

**Net Assets:** $4618117995.35

**Delayed Delivery Securities:** $42311942.74

**Cash Not Reported:** $140474336.70

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -217.15000000 | **1-Year:** -8636.39000000 | **5-Year:** -36437.46000000 | **10-Year:** -569.31000000 | **30-Year:** 0.00000000

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

- **3-Month:** -11410.58000000 | **1-Year:** -368882.08000000 | **5-Year:** -1379286.22000000 | **10-Year:** -376651.86000000 | **30-Year:** -77816.71000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.99%                | 0.61%                | 0.77%                |
| Class ID N/A | 0.83%                | 0.68%                | 0.73%                |
| Class ID N/A | 0.81%                | 0.54%                | 0.71%                |
| Class ID N/A | 0.87%                | 0.73%                | 0.77%                |
| Class ID N/A | 0.81%                | 0.66%                | 0.71%                |
| Class ID N/A | 0.83%                | 0.68%                | 0.61%                |
| Class ID N/A | 0.85%                | 0.70%                | 0.63%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $12209178.38             | $-58004150.19                              |
| Month 2  | $-18065449.55            | $49120308.29                               |
| Month 3  | $-1407131.93             | $1744243.42                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TK ELEVATOR MIDCO GMBH                                        | TK Elevator Midco GmbH 2025 USD Term Loan B                                                   | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |   9867418 | PA      | $9888929.20   | 0.21%             | 2030-04-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| YLG HOLDINGS INC                                              | YLG Holdings Inc 2019 Revolver                                                                | CUSIP: 98423EAH5<br>LEI: 549300V0YEK0QFC12V52 | Long             | LON              | CORP              | US        |     44694 | PA      | $44694.39     | 0.00%             | 2030-12-23      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| USR Parent Inc                                                | USR Parent Inc 2022 3rd Amendment Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2290985 | PA      | $2268396.79   | 0.05%             | 2027-04-25      | Floating      | 11.88%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-1522896.54  | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $455.31       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $180765.42    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COTIVITI CORPORATION                                          | Cotiviti Corporation 2025 2nd Amendment Term Loan                                             | CUSIP: 22164MAF4<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |   4987500 | PA      | $4891889.63   | 0.11%             | 2032-03-26      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2024 DDTL - 10/28 Borrowing                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4264024 | PA      | $4210724.08   | 0.09%             | 2029-10-29      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| L CATTERTON                                                   | L CATTERTON                                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    270437 | NS      | $270729.89    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Athlete Buyer LLC                                             | Athlete Buyer LLC 2024 3rd Amendment Delayed Draw Term Loan B                                 | CUSIP: 000000000<br>LEI: 254900IVX89MZM61X059 | Long             | LON              | CORP              | US        |  13399352 | PA      | $11731148.85  | 0.25%             | 2029-04-26      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Armor Holding II LLC                                          | Armor Holding II LLC 2025 Add-on Term Loan                                                    | CUSIP: 04225VAH5<br>LEI: 254900X6HLK0YPTHHF09 | Long             | LON              | CORP              | US        |   1925550 | PA      | $1923624.45   | 0.04%             | 2028-12-11      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Tank Holding Corp                                             | Tank Holding Corp 2023 Incremental Term Loan                                                  | CUSIP: 87583FAQ1<br>LEI: 549300WQKU58ILVYFJ26 | Long             | LON              | CORP              | US        |   9890460 | PA      | $9693089.53   | 0.21%             | 2028-03-31      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| Medical Manufacturing Technologies LLC                        | Medical Manufacturing Technologies LLC Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12428464 | PA      | $12426421.01  | 0.27%             | 2027-12-23      | Floating      | 9.94%                 | No            |                  3 | On Loan: No      |
| Madison Safety & Flow LLC                                     | Madison Safety & Flow LLC 2025 Term Loan B                                                    | CUSIP: 55822DAM3<br>LEI: 5493007D2J7BBIFYBY65 | Long             | LON              | CORP              | US        |   3513298 | PA      | $3515511.65   | 0.08%             | 2031-09-26      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| EXCEL FITNESS HOLDINGS INC                                    | Excel Fitness Holdings Inc 2023 Series No3 New Term Loan                                      | CUSIP: 30065EAT5<br>LEI: 549300C2NQL773WZ9F32 | Long             | LON              | CORP              | US        |   3647764 | PA      | $3647764.28   | 0.08%             | 2029-04-27      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $4020.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-99095.40    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-17699.70    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Azurite Intermediate Holdings Inc                             | Azurite Intermediate Holdings Inc Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6558577 | PA      | $6624163.18   | 0.14%             | 2031-03-19      | Floating      | 10.16%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-13473.93    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-20687.29    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4376.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                              | CIFC Funding 2021-III Ltd                                                                     | CUSIP: 12565BAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1505874.00   | 0.03%             | 2036-07-15      | Floating      | 10.98%                | No            |                  3 | On Loan: No      |
| Apex Structured Holdings Ltd.                                 | Apex Structured Holdings Ltd EUR PIK Fixed Term Loan A5                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | BM        |   6753855 | PA      | $7909544.10   | 0.17%             | 2054-07-19      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO LLC                                   | Allied Universal Holdco LLC 2025 USD Term Loan B                                              | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |  10000000 | PA      | $10031800.00  | 0.22%             | 2032-08-20      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| Eyesouth Eye Care HoldCo LLC                                  | Eyesouth Eye Care HoldCo LLC 2022 Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    117395 | PA      | $117395.20    | 0.00%             | 2029-10-05      | Floating      | 9.76%                 | No            |                  3 | On Loan: No      |
| PDI TA Holdings Inc                                           | PDI TA Holdings Inc 2024 Revolver                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2317073 | PA      | $2291186.11   | 0.05%             | 2031-02-03      | Floating      | 9.81%                 | No            |                  3 | On Loan: No      |
| PAM BIDCO LIMITED                                             | PAM Bidco Limited GBP Term Loan B2                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  22219597 | PA      | $29509585.33  | 0.64%             | 2031-10-15      | Floating      | 11.76%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $739.28       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $349.08       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ION TRADING TECHNOLOGIES                                      | ION Trading Technologies Sarl                                                                 | CUSIP: 46205YAB7<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | DBT              | CORP              | LU        |  10000000 | PA      | $10562500.00  | 0.23%             | 2029-05-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Broadstreet Partners Inc                                      | Broadstreet Partners Inc 2024 Term Loan B4                                                    | CUSIP: 11132VAY5<br>LEI: 549300BS9N54G8DD0R75 | Long             | LON              | CORP              | US        |   4919196 | PA      | $4923082.29   | 0.11%             | 2031-06-13      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Hoosier Intermediate LLC                                      | Hoosier Intermediate LLC Term Loan                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11927400 | PA      | $11927400.00  | 0.26%             | 2028-11-15      | Floating      | 9.36%                 | No            |                  3 | On Loan: No      |
| SANTIAGO HOLDINGS LP CLO                                      | SANTIAGO HOLDINGS LP CLO                                                                      | CUSIP: 000000000<br>LEI: 25490072VIOWWAIJZ011 | Long             | ABS-CBDO         | CORP              | US        |    180940 | PA      | $147273.32    | 0.00%             | 2027-09-27      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $742.97       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DWYER INSTRUMENTS INC                                         | Dwyer Instruments Inc Revolver                                                                | CUSIP: 26745LAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5408556 | PA      | $5408555.80   | 0.12%             | 2029-07-20      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| ION TRADING TECHNOLOGIES                                      | ION Trading Technologies Sarl                                                                 | CUSIP: 46205YAA9<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | DBT              | CORP              | LU        |   3000000 | PA      | $2941742.10   | 0.06%             | 2028-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WHITNEY MERGER SUB INC                                        | Whitney Merger Sub Inc Revolver                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2447552 | PA      | $2423643.04   | 0.05%             | 2032-07-05      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| CLARIOS GLOBAL LP                                             | Clarios Global LP 2025 USD Term Loan B                                                        | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |   8500000 | PA      | $8497365.00   | 0.18%             | 2032-01-28      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| AuditBoard, Inc.                                              | AuditBoard Inc Revolver                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2857143 | PA      | $2843701.20   | 0.06%             | 2031-07-14      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $5510.12      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| WineshippingCom LLC                                           | WineshippingCom LLC Revolver                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2132163 | PA      | $1581596.77   | 0.03%             | 2027-10-29      | Floating      | 10.40%                | No            |                  3 | On Loan: No      |
| Danby Park CLO, Ltd                                           | Danby Park CLO Ltd                                                                            | CUSIP: 23605DAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   7190750 | PA      | $113649.80    | 0.00%             | 2035-10-21      | Fixed         | 0.03%                 | No            |                  3 | On Loan: No      |
| SIGMA IRISH ACQUICO LIMITED                                   | Sigma Irish Acquico Limited 2025 EUR Term Loan B                                              | CUSIP: 000000000<br>LEI: 254900JN2RI99LFCXX69 | Long             | LON              | CORP              | IE        |  11936865 | PA      | $13804267.55  | 0.30%             | 2032-02-27      | Floating      | 7.25%                 | No            |                  3 | On Loan: No      |
| Voya CLO Ltd                                                  | Voya CLO 2020-3 Ltd                                                                           | CUSIP: 92918KAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7900000 | PA      | $4903158.70   | 0.11%             | 2038-01-20      | Variable      | 6.90%                 | No            |                  3 | On Loan: No      |
| KKR Financial CLO Ltd                                         | KKR CLO 54 LTD                                                                                | CUSIP: 48256WAA7<br>LEI: 254900EAKW6RIW3QK367 | Long             | ABS-CBDO         | CORP              | KY        |   6100000 | PA      | $6166673.00   | 0.13%             | 2038-01-15      | Floating      | 10.12%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-1812594.10  | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-9799.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Guidehouse LLP                                                | Guidehouse LLP 2021 First Lien Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  40378020 | PA      | $40378019.50  | 0.87%             | 2030-12-16      | Floating      | 7.16%                 | No            |                  3 | On Loan: No      |
| HS Spa Holdings Inc                                           | HS Spa Holdings Inc Revolver                                                                  | CUSIP: 000000000<br>LEI: 743700UEY0YM039XN974 | Long             | LON              | CORP              | US        |   1235465 | PA      | $1228225.15   | 0.03%             | 2028-06-02      | Floating      | 11.50%                | No            |                  3 | On Loan: No      |
| Helios Buyer Inc                                              | Helios Buyer Inc Term Loan                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6734380 | PA      | $6539633.65   | 0.14%             | 2026-12-15      | Floating      | 10.10%                | No            |                  3 | On Loan: No      |
| GC NEPTUNE S.A.R.L.                                           | GC NEPTUNE S.A.R.L.                                                                           | CUSIP: 000000000<br>LEI: 222100X1TO4L9FLX4A73 | Long             | EC               | CORP              | GB        |      7695 | NS      | $19663.18     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GENERATOR US BUYER INC                                        | Generator US Buyer Inc Term Loan                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3795000 | PA      | $3767324.63   | 0.08%             | 2030-07-22      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| FPG INTERMEDIATE HOLDCO LLC                                   | FPG Intermediate Holdco LLC 2025 15th Amendment Term Loan A                                   | CUSIP: 000000000<br>LEI: 549300UYODKEPLPB3645 | Long             | LON              | CORP              | US        |     15962 | PA      | $15962.07     | 0.00%             | 2029-07-02      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| MONARCH BUYER INC                                             | Monarch Buyer Inc Delayed Draw Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7213636 | PA      | $7140736.78   | 0.15%             | 2032-06-02      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2024 DDTL - 7/26 Borrowing                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3333193 | PA      | $3291528.39   | 0.07%             | 2029-07-26      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| Silver Point CLO, Ltd                                         | Silver Point CLO 7 LTD                                                                        | CUSIP: 82808VAA1<br>LEI: 254900UZNMKMPK9GWJ82 | Long             | ABS-CBDO         | CORP              | KY        |   3600000 | PA      | $3627759.60   | 0.08%             | 2038-01-15      | Floating      | 10.07%                | No            |                  3 | On Loan: No      |
| Empower CLO Ltd.                                              | Empower CLO 2022-1 Ltd                                                                        | CUSIP: 29246YAE8<br>LEI: 213800DM8ZNUIQ1JCN40 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3007500.00   | 0.07%             | 2037-10-20      | Floating      | 10.23%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-1464.83     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CSS PL 2024 1 TRUST                                           | CSS PL 2024 1 TRUST                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1129877 | NS      | $678830.10    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Atlas US Finco Inc                                            | Atlas US Finco Inc Term Loan                                                                  | CUSIP: 000000000<br>LEI: 254900D4YTKNIYZP2J52 | Long             | LON              | CORP              | US        |   2861374 | PA      | $2863956.00   | 0.06%             | 2029-12-09      | Floating      | 9.33%                 | No            |                  3 | On Loan: No      |
| YLG Holdings Inc                                              | YLG Holdings Inc 2024 8th Amendment PIK Delayed Draw Term Loan                                | CUSIP: 98423EAN2<br>LEI: 549300V0YEK0QFC12V52 | Long             | LON              | CORP              | US        |     96716 | PA      | $97161.88     | 0.00%             | 2030-12-23      | Floating      | 9.05%                 | No            |                  3 | On Loan: No      |
| AuditBoard, Inc.                                              | AuditBoard Inc Term Loan                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  15000000 | PA      | $14929431.30  | 0.32%             | 2031-07-14      | Floating      | 8.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-33725.14    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $558.84       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                                                | Barings CLO Ltd 2019-II                                                                       | CUSIP: 06761JAJ3<br>LEI: 549300JIWL5GWW2H2336 | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10111830.00  | 0.22%             | 2038-01-15      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $3794.78      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DENALI MIDCO 2 LLC                                            | Denali Midco 2 LLC 2023 Incremental Delayed Draw Term Loan 1                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6342611 | PA      | $6310377.51   | 0.14%             | 2028-12-22      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| Apidos CLO Ltd                                                | Apidos CLO XXXIII                                                                             | CUSIP: 03768NAL9<br>LEI: 549300DDYHDQJDDDWB27 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $242793.75    | 0.01%             | 2038-04-24      | Floating      | 12.87%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $236.26       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PAM BIDCO LIMITED                                             | PAM Bidco Limited GBP Term Loan B1                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   6489716 | PA      | $8640735.34   | 0.19%             | 2031-10-15      | Fixed         | 10.75%                | No            |                  3 | On Loan: No      |
| ADPD Holdings LLC                                             | ADPD Holdings LLC 1st Lien Term Loan                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11449267 | PA      | $10462569.65  | 0.23%             | 2028-08-16      | Floating      | 10.52%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $152.09       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-54564.59    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PXO HOLDINGS I CORP                                           | PXO HOLDINGS I CORP                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5232 | NS      | $389527.14    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Thoma Bravo Credit Asset Funding ABS LLC                      | THOMA BRAVO CREDIT ASSET FUNDING ABS LLC                                                      | CUSIP: 88432YAQ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5052584 | PA      | $5078170.00   | 0.11%             | 2033-11-22      | Fixed         | 7.06%                 | No            |                  3 | On Loan: No      |
| CSS SWIFT TOPCO, L.L.C.                                       | CSS SWIFT TOPCO, L.L.C.                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9531000 | PA      | $2612447.10   | 0.06%             | 2033-12-20      | Variable      | 0.32%                 | No            |                  3 | On Loan: No      |
| Vision Solutions Inc                                          | Vision Solutions Inc 2021 Incremental Term Loan                                               | CUSIP: 70477BAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12782557 | PA      | $12303210.80  | 0.27%             | 2028-04-24      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| TANK HOLDINGS                                                 | TANK HOLDINGS                                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200000 | NS      | $644527.80    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| CITY FOOTBALL GROUP LIMITED                                   | City Football Group Limited 2024 Term Loan                                                    | CUSIP: 17781XAD8<br>LEI: 213800K6VVWALRH9UJ69 | Long             | LON              | CORP              | GB        |   6855492 | PA      | $6849802.42   | 0.15%             | 2030-07-22      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| MATERIAL HOLDINGS LLC                                         | Material Holdings LLC 2024 Tranche A Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10933411 | PA      | $8602539.58   | 0.19%             | 2027-08-19      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| Heartland Home Services                                       | Heartland Home Services 2022 2nd Amendment Delayed Draw Term Loan                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4727922 | PA      | $4579134.22   | 0.10%             | 2026-12-15      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Sixth Street CLO LTD.                                         | Sixth Street CLO IX Ltd                                                                       | CUSIP: 83012PAA4<br>LEI: 549300T5OQR4UD880D68 | Long             | ABS-CBDO         | CORP              | KY        |   6250000 | PA      | $6296606.25   | 0.14%             | 2037-07-21      | Floating      | 10.58%                | No            |                  3 | On Loan: No      |
| Excel Fitness Holdings Inc                                    | Excel Fitness Holdings Inc 2022 Term Loan                                                     | CUSIP: 30065EAQ1<br>LEI: 549300C2NQL773WZ9F32 | Long             | LON              | CORP              | US        |   6094102 | PA      | $6094101.55   | 0.13%             | 2029-04-27      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Advanced Web Technologies Holding Company                     | Advanced Web Technologies Holding Company 2023 3rd Amendment Incremental Term Loan            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    401855 | PA      | $401374.67    | 0.01%             | 2027-12-17      | Floating      | 7.84%                 | No            |                  3 | On Loan: No      |
| MERATIVE LP                                                   | MERATIVE LP 2025 REVOLVER                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4941176 | PA      | $4916470.59   | 0.11%             | 2032-09-30      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC Term Loan                                                           | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |   6198512 | PA      | $6198511.62   | 0.13%             | 2028-08-05      | Floating      | 9.81%                 | No            |                  3 | On Loan: No      |
| SIGMA IRISH ACQUICO LIMITED                                   | Sigma Irish Acquico Limited 2025 Delayed Draw Term Loan                                       | CUSIP: 000000000<br>LEI: 254900JN2RI99LFCXX69 | Long             | LON              | CORP              | IE        |   5734957 | PA      | $5648932.93   | 0.12%             | 2032-03-19      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                         | GFL Environmental Inc 2025 Term Loan B                                                        | CUSIP: 36257SAB8<br>LEI: 254900PGDQWC19PRP053 | Long             | LON              | CORP              | US        |   5000000 | PA      | $4993450.00   | 0.11%             | 2032-03-03      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| SolarWinds Holdings Inc                                       | SolarWinds Holdings Inc 2025 Term Loan                                                        | CUSIP: 85554UAB0<br>LEI: 254900ZM34IBOK68V949 | Long             | LON              | CORP              | US        |  10000000 | PA      | $9800000.00   | 0.21%             | 2032-04-16      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| North Haven Fairway Buyer LLC                                 | North Haven Fairway Buyer LLC Delayed Draw Term Loan                                          | CUSIP: 000000000<br>LEI: 254900NRNT87TWAL0H92 | Long             | LON              | CORP              | US        |  11821918 | PA      | $11728516.05  | 0.25%             | 2028-05-17      | Floating      | 9.33%                 | No            |                  3 | On Loan: No      |
| Ballyrock Ltd                                                 | Ballyrock CLO 21 Ltd                                                                          | CUSIP: 05874RAE2<br>LEI: 254900FOV48Z8K26JH50 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $991824.00    | 0.02%             | 2037-10-20      | Floating      | 10.33%                | No            |                  3 | On Loan: No      |
| Ballyrock Ltd                                                 | Ballyrock CLO 26 Ltd                                                                          | CUSIP: 05876NAL3<br>LEI: 254900KWGJ97WUSMSQ74 | Long             | ABS-CBDO         | CORP              | KY        |   8250000 | PA      | $8311041.75   | 0.18%             | 2037-07-25      | Floating      | 9.02%                 | No            |                  3 | On Loan: No      |
| Barings Middle Market CLO Ltd.                                | Barings Middle Market CLO 2023-I Ltd                                                          | CUSIP: 06763KAJ8<br>LEI: 254900NXSC4FPWNV4296 | Long             | ABS-CBDO         | CORP              | BM        |   2750000 | PA      | $2773870.00   | 0.06%             | 2036-01-20      | Floating      | 10.73%                | No            |                  3 | On Loan: No      |
| CD&R Hydra Buyer Inc                                          | CD&R Hydra Buyer Inc 2024 Term Loan B                                                         | CUSIP: 12508KAJ6<br>LEI: 549300HW5C2VGPZCHL57 | Long             | LON              | CORP              | US        |   2952457 | PA      | $2931553.33   | 0.06%             | 2031-03-25      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $745.89       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4567.67     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                                  | AGL CLO 20 Ltd                                                                                | CUSIP: 00091RAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2700000 | PA      | $2713348.80   | 0.06%             | 2037-10-20      | Floating      | 10.73%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-3235.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                      | Madison Park Funding XLVII Ltd                                                                | CUSIP: 55820GAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5023665.00   | 0.11%             | 2037-04-19      | Floating      | 10.98%                | No            |                  3 | On Loan: No      |
| Voya Euro CLO                                                 | Voya Euro CLO VIII DAC                                                                        | CUSIP: 000000000<br>LEI: 254900SOU1JWRMX1DI41 | Long             | ABS-CBDO         | CORP              | IE        |   7970000 | PA      | $9448266.61   | 0.20%             | 2039-01-15      | Floating      | 7.88%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4256097.07  | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| WineshippingCom LLC                                           | WineshippingCom LLC Delayed Draw Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    396511 | PA      | $294124.32    | 0.01%             | 2027-10-29      | Floating      | 5.25%                 | No            |                  3 | On Loan: No      |
| HS Spa Holdings Inc                                           | HS Spa Holdings Inc 2024 2nd Amendment Delayed Draw Term Loan                                 | CUSIP: 000000000<br>LEI: 743700UEY0YM039XN974 | Long             | LON              | CORP              | US        |    636369 | PA      | $636369.18    | 0.01%             | 2029-06-01      | Floating      | 9.56%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-36684.04    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PointClickCare Technologies, Inc.                             | PointClickCare Technologies Inc 2025 Term Loan B                                              | CUSIP: 000000000<br>LEI: 5493001Z0LHHBZLVDX36 | Long             | LON              | CORP              | CA        |   7860500 | PA      | $7864901.88   | 0.17%             | 2031-11-03      | Floating      | 6.75%                 | No            |                  3 | On Loan: No      |
| HELIOS SOFT/ION CORP SOL                                      | Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl                           | CUSIP: 42329HAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5174243.00   | 0.11%             | 2029-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4425.14     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $6786.29      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eyesouth Eye Care HoldCo LLC                                  | Eyesouth Eye Care HoldCo LLC 2022 Revolver                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     18813 | PA      | $18812.71     | 0.00%             | 2029-10-05      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| MERATIVE LP                                                   | MERATIVE LP 2025 DELAYED DRAW TERM LOAN                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5647059 | PA      | $5618823.53   | 0.12%             | 2032-09-30      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| AMPERSCAP LLC                                                 | AMPERSCAP LLC 2025 1st AMENDMENT INC Delayed Draw Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  30329670 | PA      | $30026373.64  | 0.65%             | 2032-12-17      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-40953.03    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bluecat Networks (USA) Inc                                    | Bluecat Networks (USA) Inc 2022 Delayed Draw Term Loan B                                      | CUSIP: 000000000<br>LEI: 5493003F3N6IPSL3XU23 | Long             | LON              | CORP              | US        |    167182 | PA      | $163260.41    | 0.00%             | 2028-08-08      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| Avoca CLO                                                     | Avoca CLO XI DAC                                                                              | CUSIP: 000000000<br>LEI: 635400ZMWQZGBPHKHU66 | Long             | ABS-CBDO         | CORP              | IE        |   1750000 | PA      | $2072890.94   | 0.04%             | 2038-10-15      | Floating      | 8.18%                 | No            |                  3 | On Loan: No      |
| LEGENCE HOLDINGS LLC                                          | Legence Holdings LLC 2025 Term Loan B                                                         | CUSIP: 75865HAK4<br>LEI: 2549003DYOLJRQR9G070 | Long             | LON              | CORP              | US        |   1701326 | PA      | $1703027.27   | 0.04%             | 2028-12-18      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| McAfee, LLC                                                   | McAfee LLC 2024 USD 1st Lien Term Loan B                                                      | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |   6853392 | PA      | $6534298.11   | 0.14%             | 2029-03-01      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-283849.95   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Regatta VIII Funding Ltd                                      | Regatta VIII Funding Ltd                                                                      | CUSIP: 75888JAL1<br>LEI: 2549002R0TTC87W9EH67 | Long             | ABS-CBDO         | CORP              | KY        |   5560000 | PA      | $5591241.64   | 0.12%             | 2037-04-17      | Floating      | 11.32%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-84667.16    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oak Purchaser Inc                                             | Oak Purchaser Inc 2024 Term Loan                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    835719 | PA      | $826735.02    | 0.02%             | 2028-05-31      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-38025.45    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ivy Hill Middle Market Credit Fund Ltd                        | Ivy Hill Middle Market Credit Fund XXII Ltd                                                   | CUSIP: 46604KAG3<br>LEI: 254900JS83BAS03A8P43 | Long             | ABS-CBDO         | CORP              | JE        |   2500000 | PA      | $2528147.50   | 0.05%             | 2036-04-20      | Floating      | 9.38%                 | No            |                  3 | On Loan: No      |
| Icefall Parent Inc                                            | Icefall Parent Inc Term Loan                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12609522 | PA      | $12672569.84  | 0.27%             | 2030-01-25      | Floating      | 8.81%                 | No            |                  3 | On Loan: No      |
| FULLSTEAM OPERATIONS LLC                                      | Fullsteam Operations LLC 2025 Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8164006 | PA      | $8082365.75   | 0.18%             | 2031-08-08      | Floating      | 9.48%                 | No            |                  3 | On Loan: No      |
| IROBOT CORPORATION                                            | IROBOT CORPORATION                                                                            | CUSIP: 000000000<br>LEI: 5493009PRNKOUKBAT390 | N/A              | DE               |  | US        |    500146 | NS      | $130037.96    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Palmer Square European CLO                                    | Palmer Square European CLO 2023-1 DAC                                                         | CUSIP: 000000000<br>LEI: 54930088SCW7OACNS247 | Long             | ABS-CBDO         | CORP              | IE        |   8000000 | PA      | $9486038.19   | 0.21%             | 2038-01-15      | Floating      | 7.73%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-88074.08    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Yellowstone Buyer Acquisition LLC                             | Yellowstone Buyer Acquisition LLC Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6488640 | PA      | $5870441.05   | 0.13%             | 2027-09-14      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| VIENNA BIDCO LIMITED                                          | Vienna Bidco Limited GBP Term Loan B                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  29054965 | PA      | $38099106.56  | 0.82%             | 2030-08-20      | Floating      | 9.62%                 | No            |                  3 | On Loan: No      |
| Arbour CLO                                                    | ARBOUR CLO IX DAC                                                                             | CUSIP: 000000000<br>LEI: 635400NYOY3GFEEKJA91 | Long             | ABS-CBDO         | CORP              | IE        |   2337000 | PA      | $2744253.02   | 0.06%             | 2034-04-15      | Floating      | 7.82%                 | Yes           |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-17167.15    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Savor Acquisition, Inc.                                       | Savor Acquisition Inc Delayed Draw Term Loan                                                  | CUSIP: 80536AAC6<br>LEI: 25490051R6ZOBEBPQ519 | Long             | LON              | CORP              | US        |    258621 | PA      | $260035.35    | 0.01%             | 2032-02-19      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FIRST ADVANTAGE HOLDINGS LLC                                  | First Advantage Holdings LLC 2025 Repriced Term Loan B                                        | CUSIP: 78477MAH4<br>LEI: 549300MRQE5MQEH3BI02 | Long             | LON              | CORP              | US        |   4406370 | PA      | $4289336.95   | 0.09%             | 2031-10-31      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                               | Benefit Street Partners CLO XXXII Ltd                                                         | CUSIP: 08181GAA6<br>LEI: 2549003NV71H6I4TDQ63 | Long             | ABS-CBDO         | CORP              | JE        |   4000000 | PA      | $4010000.00   | 0.09%             | 2036-10-25      | Floating      | 11.67%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $757.83       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Excelitas Technologies Corp                                   | Excelitas Technologies Corp 2022 USD Term Loan                                                | CUSIP: 000000000<br>LEI: 5493001KJFQIB7D17Q74 | Long             | LON              | CORP              | US        |  49599202 | PA      | $49599201.94  | 1.07%             | 2029-08-13      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| PDI TA Holdings Inc                                           | PDI TA Holdings Inc 2024 Term Loan                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  27856700 | PA      | $27545475.92  | 0.60%             | 2031-02-03      | Floating      | 9.81%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-3262.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| 11852604 Canada Inc                                           | 11852604 Canada Inc PIK Term Loan                                                             | CUSIP: 000000000<br>LEI: 5493005JT54IX5MZ9P52 | Long             | LON              | CORP              | CA        |  45214998 | PA      | $44875885.57  | 0.97%             | 2028-09-29      | Floating      | 13.65%                | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2024 Delayed Draw Term Loan                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  23935782 | PA      | $23636584.86  | 0.51%             | 2029-05-16      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Athlete Buyer LLC                                             | Athlete Buyer LLC Delayed Draw Term Loan A                                                    | CUSIP: 000000000<br>LEI: 254900IVX89MZM61X059 | Long             | LON              | CORP              | US        |   3045787 | PA      | $2666590.25   | 0.06%             | 2029-04-26      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| DRILLING INFO HOLDINGS INC PIP                                | DRILLING INFO HOLDINGS INC PIP                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    571091 | NS      | $571090.58    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Danby Park CLO, Ltd                                           | Danby Park CLO Ltd                                                                            | CUSIP: 23605DAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   7190750 | PA      | $5720773.74   | 0.12%             | 2035-10-21      | Variable      | 11.90%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4169695.86  | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-17603.12    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $979.77       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NORTH HAVEN FAIRWAY BUYER LLC                                 | North Haven Fairway Buyer LLC 2025 Term Loan                                                  | CUSIP: 000000000<br>LEI: 254900NRNT87TWAL0H92 | Long             | LON              | CORP              | US        |   8082311 | PA      | $8018454.85   | 0.17%             | 2028-05-17      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $96.66        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-161518.21   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DANCE MIDCO SARL                                              | Dance Midco SA RL EUR Delayed Draw Term Loan B2                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  20813356 | PA      | $24191575.25  | 0.52%             | 2031-08-22      | Floating      | 7.53%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-697610.55   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CFC BIDCO 2022 LTD                                            | CFC Bidco 2022 Ltd Term Loan B                                                                | CUSIP: 12531JAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5000000 | PA      | $4762500.00   | 0.10%             | 2032-07-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-13108.10    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PRESS GANEY HOLDINGS INC                                      | Press Ganey Holdings Inc 2025 Repriced Term Loan B                                            | CUSIP: 05477JAE1<br>LEI: 549300HC42NZULO53062 | Long             | LON              | CORP              | US        |   2970056 | PA      | $2960789.67   | 0.06%             | 2031-04-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Regatta XXV Funding Ltd.                                      | Regatta XXV Funding Ltd                                                                       | CUSIP: 758979AE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6250000 | PA      | $6307712.50   | 0.14%             | 2038-07-15      | Floating      | 10.08%                | No            |                  3 | On Loan: No      |
| BUCKEYE GROUP HOLDINGS, L.P.                                  | BUCKEYE GROUP HOLDINGS, L.P.                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   5123437 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Guggenheim Inv PDF IV Rated Note Feeder, LLC                  | Guggenheim Inv PDF IV Rated Note Feeder LLC Delayed Draw Term Loan B1                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3260870 | PA      | $3265924.35   | 0.07%             | 2038-04-10      | Floating      | 8.77%                 | No            |                  3 | On Loan: No      |
| ONEDIGITAL BORROWER LLC                                       | OneDigital Borrower LLC 2025 Repriced Term Loan                                               | CUSIP: 68277FAN9<br>LEI: 2549009GTKWWAO1E9X77 | Long             | LON              | CORP              | US        |   4950000 | PA      | $4943911.50   | 0.11%             | 2031-07-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                                                | Barings CLO Ltd 2025-IV                                                                       | CUSIP: 06764VAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3002736.00   | 0.07%             | 2040-10-15      | Floating      | 8.97%                 | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2024 DDTL - 12/10 Borrowing                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2351040 | PA      | $2321651.69   | 0.05%             | 2029-12-10      | Floating      | 10.07%                | No            |                  3 | On Loan: No      |
| Deltatre Bidco Limited                                        | Deltatre Bidco Limited EUR Facility B                                                         | CUSIP: 000000000<br>LEI: 254900T2C7ABA2APHR15 | Long             | LON              | CORP              | GB        |  20662584 | PA      | $22318206.43  | 0.48%             | 2028-09-14      | Floating      | 10.62%                | No            |                  3 | On Loan: No      |
| Golub Capital Partners CLO, LTD                               | Golub Capital Partners CLO 43B Ltd                                                            | CUSIP: 38180RAA0<br>LEI: 2549006E2S3MDN9M6Q69 | Long             | ABS-CBDO         | CORP              | KY        |   6750000 | PA      | $6790203.00   | 0.15%             | 2037-10-20      | Floating      | 10.08%                | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co IV LLC                       | Coreweave Compute Acquisition Co IV LLC 2025 DDTL - 8/26 Borrowing 1                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    587942 | PA      | $580593.01    | 0.01%             | 2032-08-26      | Floating      | 10.72%                | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                                              | CIFC Funding 2018-V Ltd                                                                       | CUSIP: 12551XAE5<br>LEI: 2549007CW2XYI54L0R94 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3025041.00   | 0.07%             | 2038-07-15      | Floating      | 10.92%                | No            |                  3 | On Loan: No      |
| Palmer Square CLO Ltd                                         | Palmer Square CLO 2018-2 Ltd                                                                  | CUSIP: 69688LAG2<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |   8170000 | PA      | $8266095.54   | 0.18%             | 2037-04-16      | Floating      | 11.32%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-88126.91    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-3664.37     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-85969.78    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Eliassen Group LLC                                            | Eliassen Group LLC 2022 Delayed Draw Term Loan                                                | CUSIP: 28656LAR2<br>LEI: 549300U7CJZAHM5LJ451 | Long             | LON              | CORP              | US        |   1196401 | PA      | $1163915.13   | 0.03%             | 2028-04-14      | Floating      | 9.91%                 | No            |                  3 | On Loan: No      |
| Guggenheim Inv PDF IV Rated Note Feeder, LLC                  | Guggenheim Inv PDF IV Rated Note Feeder LLC Delayed Draw Term Loan D                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13043478 | PA      | $12646304.09  | 0.27%             | 2038-04-10      | Floating      | 12.41%                | No            |                  3 | On Loan: No      |
| APEX STRUCTURED HOLDINGS LTD                                  | Apex Structured Holdings Ltd EUR PIK Fixed Term Loan A3                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | BM        |    864499 | PA      | $1012427.69   | 0.02%             | 2054-07-19      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-71312.16    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-54368.25    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BIANALISI SPA                                                 | Bianalisi SPA EUR Delayed Draw Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IT        |  16633765 | PA      | $19138304.84  | 0.41%             | 2032-02-26      | Floating      | 8.02%                 | No            |                  3 | On Loan: No      |
| Project Leopard Holdings Inc                                  | Project Leopard Holdings Inc 2022 USD Term Loan B                                             | CUSIP: 74338UAG6<br>LEI: 254900QOZVLO3PEJYN33 | Long             | LON              | CORP              | US        |   9948980 | PA      | $8914683.68   | 0.19%             | 2029-07-20      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-11661.46    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ATHLETE BUYER LLC                                             | Athlete Buyer LLC Revolver                                                                    | CUSIP: 000000000<br>LEI: 254900IVX89MZM61X059 | Long             | LON              | CORP              | US        |   1462853 | PA      | $1280729.87   | 0.03%             | 2029-04-26      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $5472.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chamberlain Group Inc                                         | Chamberlain Group Inc Term Loan B                                                             | CUSIP: 15963CAC0<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |   2961979 | PA      | $2962453.36   | 0.06%             | 2028-11-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                                             | Generate Clo 18 Ltd                                                                           | CUSIP: 37149XAA9<br>LEI: 213800HEENW837PB8J74 | Long             | ABS-CBDO         | CORP              | KY        |   3060000 | PA      | $3105211.50   | 0.07%             | 2038-01-20      | Floating      | 10.33%                | No            |                  3 | On Loan: No      |
| DAFFODIL BIDCO LIMITED                                        | Daffodil Bidco Limited 2024 GBP PIK Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  29738276 | PA      | $41394815.67  | 0.90%             | 2031-04-30      | Floating      | 16.47%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-561067.15   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MERATIVE LP                                                   | MERATIVE LP 2025 TERM LOAN                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  49411765 | PA      | $49164705.89  | 1.06%             | 2032-09-30      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| ELLKAY                                                        | Ellkay 2025 Incremental Revolver                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1071390 | PA      | $1071390.31   | 0.02%             | 2030-09-13      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Bullhorn Inc                                                  | Bullhorn Inc 2019 Revolver                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1382567 | PA      | $1374766.86   | 0.03%             | 2029-10-01      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| IG INVESTMENT HOLDINGS LLC                                    | IG Investment Holdings LLC 2024 Refinancing Revolver                                          | CUSIP: 000000000<br>LEI: 549300E2BEZMEPIYGU19 | Long             | LON              | CORP              | US        |    324687 | PA      | $323791.53    | 0.01%             | 2028-09-22      | Floating      | 5.00%                 | No            |                  3 | On Loan: No      |
| Oaktree CLO Ltd                                               | Oaktree CLO 2019-2 Ltd                                                                        | CUSIP: 67401VAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4550000 | PA      | $4559923.55   | 0.10%             | 2037-10-15      | Floating      | 11.51%                | No            |                  3 | On Loan: No      |
| KKR Financial CLO Ltd                                         | KKR CLO 44 Ltd                                                                                | CUSIP: 481950AJ2<br>LEI: 254900ADEC5BQFZA7W53 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5046395.00   | 0.11%             | 2036-01-20      | Floating      | 9.33%                 | No            |                  3 | On Loan: No      |
| iRobot Corporation                                            | iRobot Corporation Term Loan                                                                  | CUSIP: 000000000<br>LEI: 5493009PRNKOUKBAT390 | Long             | LON              | CORP              | US        |  26877241 | PA      | $12605425.91  | 0.27%             | 2026-07-24      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Fertitta Entertainment LLC                                    | Fertitta Entertainment LLC 2022 Term Loan B                                                   | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |   7808889 | PA      | $7795145.01   | 0.17%             | 2029-01-27      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| OPTIV SECURITY INC                                            | Optiv Security Inc 2023 Term Loan                                                             | CUSIP: 68405PAB8<br>LEI: 549300EMRBO1UNORKL53 | Long             | LON              | CORP              | US        |  10412118 | PA      | $8121451.96   | 0.18%             | 2026-07-31      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| VGL Midco Limited                                             | VGL Midco Limited 2024 Fixed GBP PIK Term Loan A                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   2924519 | PA      | $3893851.87   | 0.08%             | 2031-02-17      | Floating      | 15.00%                | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2024 DDTL - 10/11 Borrowing                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8302684 | PA      | $8198900.15   | 0.18%             | 2029-10-11      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-14242.53    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-17359.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEARU PIK                                                     | NEARU PIK                                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       135 | NS      | $16232.15     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ROTATION BUYER LLC                                            | Rotation Buyer LLC Delayed Draw Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2250783 | PA      | $2232655.55   | 0.05%             | 2031-12-26      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-33540.35    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GFP Atlantic Holdco 2 LLC                                     | GFP Atlantic Holdco 2 LLC Delayed Draw Term Loan                                              | CUSIP: 000000000<br>LEI: 549300JEHAJE6PNFGS39 | Long             | LON              | CORP              | US        |   8490393 | PA      | $8490392.67   | 0.18%             | 2027-11-12      | Floating      | 10.30%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | Long: GS IRS3 H IRS USD R F  6.75000 / Short: GS IRS3 H IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DIR              |  | US        | 100000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REDSTONE HOLDCO 2 LP                                          | Redstone Holdco 2 LP 2024 CoOp Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11307959 | PA      | $5795328.84   | 0.13%             | 2028-04-27      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| Barnes & Noble, Inc.                                          | Barnes & Noble Inc 2025 FILO Term Loan                                                        | CUSIP: 000000000<br>LEI: 549300WEQE1M8II5OS20 | Long             | LON              | CORP              | US        |   1658144 | PA      | $1635390.58   | 0.04%             | 2030-05-07      | Floating      | 13.41%                | No            |                  3 | On Loan: No      |
| APPLIED TECHNICAL SERVICES LLC                                | Applied Technical Services LLC 2025 Revolver                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2520058 | PA      | $2505885.09   | 0.05%             | 2031-04-08      | Floating      | 11.50%                | No            |                  3 | On Loan: No      |
| PLANVIEW PARENT INC                                           | Planview Parent Inc 2024 1st Lien Term Loan                                                   | CUSIP: 72751PAJ3<br>LEI: 549300SEALM1D9FKMA32 | Long             | LON              | CORP              | US        |   6884840 | PA      | $6770069.90   | 0.15%             | 2027-12-17      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| APPLIED TECHNICAL SERVICES LLC                                | Applied Technical Services LLC 2025 Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  24897484 | PA      | $24757457.78  | 0.54%             | 2031-04-08      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-811022.05   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Spotless Brands LLC                                           | Spotless Brands LLC Delayed Draw Term Loan B                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    920835 | PA      | $925439.18    | 0.02%             | 2028-07-25      | Floating      | 9.62%                 | No            |                  3 | On Loan: No      |
| PXO HOLDINGS III CORP                                         | PXO Holdings III Corp 2024 1st Amendment Incremental Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2163193 | PA      | $2126575.93   | 0.05%             | 2028-03-08      | Floating      | 9.96%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4362.06     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LDS INTERMEDIATE HOLDINGS LLC                                 | LDS INTERMEDIATE HOLDINGS LLC PIK INCREMENTAL TERM LOAN                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    892651 | PA      | $883724.68    | 0.02%             | 2032-02-09      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| HOLDING ARGON                                                 | Holding Argon EUR German Bonds                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |   5054334 | PA      | $5785693.18   | 0.13%             | 2032-04-16      | Floating      | 7.96%                 | No            |                  3 | On Loan: No      |
| AB BSL CLO                                                    | AB BSL CLO 5 Ltd                                                                              | CUSIP: 00038HAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1250000 | PA      | $1260751.25   | 0.03%             | 2038-01-20      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-1345520.94  | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| 1251 FINANCING COMPANY LLC                                    | 1251 Financing Company LLC 2025 Revolver                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2891566 | PA      | $2875269.30   | 0.06%             | 2031-03-31      | Floating      | 8.97%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-37681.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ARTIFACT BIDCO INC                                            | Artifact Bidco Inc USD Revolver                                                               | CUSIP: 000000000<br>LEI: 213800OR4G59WMDKCC08 | Long             | LON              | CORP              | US        |   3078818 | PA      | $3078817.73   | 0.07%             | 2030-07-26      | Fixed         | 0.35%                 | No            |                  3 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS LLC                                  | Focus Financial Partners LLC 2025 Incremental Term Loan B                                     | CUSIP: 34416DBD9<br>LEI: 5493007L0E0VKRC2CP39 | Long             | LON              | CORP              | US        |   9925000 | PA      | $9925992.50   | 0.21%             | 2031-09-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| APEX STRUCTURED HOLDINGS LTD                                  | Apex Structured Holdings Ltd USD PIK Fixed Term Loan A16                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | BM        |   9801469 | PA      | $9776965.36   | 0.21%             | 2054-07-19      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| Cordatus CLO PLC                                              | CVC Cordatus Loan Fund XXVII DAC                                                              | CUSIP: 000000000<br>LEI: 635400JQLQZTRUJH8W86 | Long             | ABS-CBDO         | CORP              | IE        |   2125000 | PA      | $2535503.88   | 0.05%             | 2038-04-15      | Floating      | 8.13%                 | No            |                  3 | On Loan: No      |
| ARCLINE FM HOLDINGS LLC                                       | Arcline FM Holdings LLC 2025 Term Loan                                                        | CUSIP: 03960DAH6<br>LEI: 2549000HKCEC1E8UTO17 | Long             | LON              | CORP              | US        |   5985000 | PA      | $5980331.70   | 0.13%             | 2030-06-24      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| DENALI MIDCO 2 LLC                                            | Denali Midco 2 LLC 2022 Term Loan 1                                                           | CUSIP: 000000000<br>LEI: 549300TS3U4JKMR1B479 | Long             | LON              | CORP              | US        |    561532 | PA      | $558678.30    | 0.01%             | 2028-12-22      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| Benefit Street Partners CLO Ltd                               | Benefit Street Partners CLO V-B Ltd                                                           | CUSIP: 08181KAD1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10710000 | PA      | $10836035.28  | 0.23%             | 2037-07-20      | Floating      | 10.63%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $2441.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FIDEICOMISO FIDUOCCIDENTE ACCI                                | FIDEICOMISO FIDUOCCIDENTE ACCI                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | CO        |  11000000 | PA      | $11137500.00  | 0.24%             | 2029-12-31      | Variable      | 9.45%                 | No            |                  3 | On Loan: No      |
| Dwyer Instruments Inc                                         | Dwyer Instruments Inc 4th Amendment Delayed Draw Term Loan                                    | CUSIP: 26745LAH1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2842351 | PA      | $2842351.19   | 0.06%             | 2029-07-20      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2024 DDTL - 6/28 Borrowing                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2226262 | PA      | $2198433.23   | 0.05%             | 2029-06-28      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| PXO Holdings III Corp                                         | PXO Holdings III Corp 2022 Term Loan                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  17904216 | PA      | $17601144.36  | 0.38%             | 2028-03-08      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $55.89        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CARTITALIA SPA                                                | CARTITALIA SPA                                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |   2278076 | PA      | $1872203.58   | 0.04%             | 2025-12-22      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| CLOUD SOFTWARE GROUP INC                                      | Cloud Software Group Inc 2025 Term Loan B (2032)                                              | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |   9000000 | PA      | $9025650.00   | 0.20%             | 2032-08-13      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| NUZOA BIDCO SLU                                               | Nuzoa Bidco SLU EUR PIK Term Loan B                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | ES        |   6340580 | PA      | $7295278.61   | 0.16%             | 2032-06-25      | Floating      | 5.54%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-58435.55    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CoreLogic Inc                                                 | CoreLogic Inc Term Loan                                                                       | CUSIP: 21870FBA6<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |   7048936 | PA      | $7042310.47   | 0.15%             | 2028-06-02      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| MONARCH BUYER INC                                             | Monarch Buyer Inc Term Loan                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  17312727 | PA      | $17137768.30  | 0.37%             | 2032-06-02      | Floating      | 9.03%                 | No            |                  3 | On Loan: No      |
| Dwyer Instruments Inc                                         | Dwyer Instruments Inc 4th Amendment Incremental Term Loan                                     | CUSIP: 26745LAJ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  21721958 | PA      | $21721958.33  | 0.47%             | 2029-07-20      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| BINGO GROUP BUYER INC                                         | Bingo Group Buyer Inc Revolver                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1024590 | PA      | $1024590.16   | 0.02%             | 2031-07-10      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| CORNERSTONE BUILDING                                          | Cornerstone Building Brands Inc                                                               | CUSIP: 21925DAB5<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3880400.00   | 0.08%             | 2029-08-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Dun & Bradstreet Corporation (The)                            | Dun & Bradstreet Corporation (The) 2025 Term Loan                                             | CUSIP: 000000000<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |   7185980 | PA      | $7114119.77   | 0.15%             | 2032-08-26      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| NPA 2023 HOLDCO LLC                                           | NPA 2023 HOLDCO LLC                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  58580909 | PA      | $57995100.00  | 1.26%             | 2028-10-10      | Fixed         | 8.75%                 | No            |                  3 | On Loan: No      |
| Tank Holding Corp                                             | Tank Holding Corp 2022 Revolver                                                               | CUSIP: 87583FAM0<br>LEI: 549300WQKU58ILVYFJ26 | Long             | LON              | CORP              | US        |   1655172 | PA      | $1611531.19   | 0.03%             | 2028-03-31      | Fixed         | 0.38%                 | No            |                  3 | On Loan: No      |
| CREATIVE ARTISTS AGENCY LLC                                   | Creative Artists Agency LLC 2025 Repriced Term Loan B                                         | CUSIP: 22526WAU2<br>LEI: 5493008FV5TCFL3KHH96 | Long             | LON              | CORP              | US        |   1990000 | PA      | $1992069.52   | 0.04%             | 2031-10-01      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                                 | TransDigm Inc 2025 Term Loan M                                                                | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   5000000 | PA      | $4993600.00   | 0.11%             | 2032-08-19      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-60070.41    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| APIDOS CLO LTD                                                | APIDOS CLO LTD                                                                                | CUSIP: 000000000<br>LEI: 254900K0UHSUBZXUMR56 | Long             | ABS-CBDO         | CORP              | US        |  21960000 | PA      | $868430.16    | 0.02%             | 2034-10-24      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $4593.74      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $2042.72      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EXCEL FITNESS HOLDINGS INC                                    | Excel Fitness Holdings Inc 2023 Delayed Draw Term Loan                                        | CUSIP: 30065EAU2<br>LEI: 549300C2NQL773WZ9F32 | Long             | LON              | CORP              | US        |   1833117 | PA      | $1833117.01   | 0.04%             | 2029-04-27      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $7905.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| QBS PARENT INC                                                | QBS Parent Inc 2025 Delayed Draw Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5287779 | PA      | $5311447.30   | 0.12%             | 2032-06-03      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $1257.60      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VENSURE EMPLOYER SERVICES INC                                 | Vensure Employer Services Inc 2024 Delayed Draw Term Loan                                     | CUSIP: 92276AAV3<br>LEI: 549300OI92ZMA6M8UW59 | Long             | LON              | CORP              | US        |   4916462 | PA      | $4876788.10   | 0.11%             | 2031-09-29      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Golub Capital Partners CLO, LTD                               | Golub Capital Partners CLO 53B Ltd                                                            | CUSIP: 38178CAE9<br>LEI: 254900DPK2EA9C8DGV68 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3941224.00   | 0.09%             | 2034-07-20      | Floating      | 9.03%                 | No            |                  3 | On Loan: No      |
| TICP CLO Ltd                                                  | TICP CLO XII Ltd                                                                              | CUSIP: 87250GAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    987500 | PA      | $991226.83    | 0.02%             | 2034-07-15      | Floating      | 10.83%                | No            |                  3 | On Loan: No      |
| Asurion LLC                                                   | Asurion LLC 2022 Term Loan B10                                                                | CUSIP: 04649VBB5<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    962726 | PA      | $964401.30    | 0.02%             | 2028-08-19      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| DELTA TOPCO INC                                               | Delta TopCo Inc 2025 Term Loan B                                                              | CUSIP: 24780DAJ6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4950063 | PA      | $4889424.39   | 0.11%             | 2029-11-30      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-41693.62    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AIR CANADA 2020-2B PTT                                        | Air Canada 2020-2 Class B Pass Through Trust                                                  | CUSIP: 00909UAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    364622 | PA      | $364384.74    | 0.01%             | 2025-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DAFFODIL BIDCO LIMITED                                        | Daffodil Bidco Limited 2025 GBP Term Loan B2                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   3805436 | PA      | $5616926.92   | 0.12%             | 2031-04-30      | Floating      | 10.47%                | No            |                  3 | On Loan: No      |
| HERCULES BORROWER LLC                                         | Hercules Borrower LLC 2025 Revolver                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    719954 | PA      | $721703.33    | 0.02%             | 2028-12-15      | Floating      | 4.75%                 | No            |                  3 | On Loan: No      |
| MONROE CAPITAL INC PLUS CORP                                  | MONROE CAPITAL INC PLUS CORP                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15700000 | PA      | $16485000.00  | 0.36%             | 2028-12-13      | Fixed         | 9.42%                 | No            |                  3 | On Loan: No      |
| Alterra Mountain Company                                      | Alterra Mountain Company 2025 Term Loan B9                                                    | CUSIP: 46124CAU1<br>LEI: 549300C5O4FSVNUEI843 | Long             | LON              | CORP              | US        |   3158922 | PA      | $3157595.45   | 0.07%             | 2028-08-17      | Floating      | 6.66%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs & Co. LLC                                       | Long: GS IRS5 J IRS USD R F  6.00000 / Short: GS IRS5 J IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DIR              |  | US        | 100000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $431137.57    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-187695.81   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DEERFIELD DAKOTA HOLDING LLC                                  | DEERFIELD DAKOTA HOLDING LLC 2025 TERM LOAN                                                   | CUSIP: 000000000<br>LEI: 549300FDREJLOIGXY104 | Long             | LON              | CORP              | US        |  59254294 | PA      | $58661751.15  | 1.27%             | 2032-09-13      | Floating      | 7.06%                 | No            |                  3 | On Loan: No      |
| CSS PL 2023 1 TRUST CLO                                       | CSS PL 2023 1 TRUST CLO                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  15238000 | PA      | $6435007.40   | 0.14%             | 2033-12-20      | Variable      | 2.49%                 | No            |                  3 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC 2023 Amendment No 1 Incremental Term Loan                           | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |    548612 | PA      | $548612.38    | 0.01%             | 2028-08-05      | Floating      | 9.77%                 | No            |                  3 | On Loan: No      |
| Bluemountain CLO Ltd                                          | BlueMountain CLO XXV Ltd                                                                      | CUSIP: 09630CAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5725000 | PA      | $5729986.48   | 0.12%             | 2038-01-15      | Floating      | 11.74%                | No            |                  3 | On Loan: No      |
| ENKINDLE LIMITED                                              | Enkindle Limited GBP Acquisition Facility 1                                                   | CUSIP: 000000000<br>LEI: 213800DIMLCM7UULLQ77 | Long             | LON              | CORP              | IM        |   5505597 | PA      | $7219363.10   | 0.16%             | 2031-04-06      | Floating      | 7.72%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $27701.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Aretec Group Inc                                              | Aretec Group Inc 2024 1st Lien Term Loan B                                                    | CUSIP: 04009DAH7<br>LEI: 549300NV2T8A33L0PQ58 | Long             | LON              | CORP              | US        |   1488750 | PA      | $1488511.80   | 0.03%             | 2030-08-09      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Embark Intermediate Holdings, LLC                             | EMBARK INTERMEDITE HLDINGS LLC DELAYED DRAW TERM LOAN                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4761905 | PA      | $4714285.72   | 0.10%             | 2032-09-02      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Marble Point CLO XXI Ltd.                                     | Marble Point CLO XXI Ltd                                                                      | CUSIP: 56606TAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3930256.00   | 0.09%             | 2034-10-17      | Floating      | 11.78%                | No            |                  3 | On Loan: No      |
| Henley Funding Ltd.                                           | Henley Clo XIII DAC                                                                           | CUSIP: 000000000<br>LEI: 635400GYWK6CANWU6S92 | Long             | ABS-CBDO         | CORP              | IE        |   3880000 | PA      | $4576321.14   | 0.10%             | 2038-10-15      | Floating      | 7.72%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $7207.84      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Avoca CLO                                                     | Avoca CLO XXXIII DAC                                                                          | CUSIP: 000000000<br>LEI: 254900YNEJRCMHXNEA61 | Long             | ABS-CBDO         | CORP              | IE        |   6220000 | PA      | $7314125.92   | 0.16%             | 2038-10-15      | Floating      | 7.39%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-222314.50   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-9682185.13  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| MATERIAL HOLDINGS LLC                                         | MATERIAL HOLDINGS LLC 2025 6TH AMENDMENT Delayed Draw Term Loan                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1438521 | PA      | $1438520.90   | 0.03%             | 2027-08-19      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-13475.34    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc.                                     | Boxer Parent Company Inc 2024 2nd Lien Term Loan                                              | CUSIP: 05988HAL1<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |   3700000 | PA      | $3598250.00   | 0.08%             | 2032-07-30      | Floating      | 9.95%                 | No            |                  2 | On Loan: No      |
| OID-OL Intermediate I LLC                                     | OID-OL Intermediate I LLC Term Loan 1                                                         | CUSIP: 67089SAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13897388 | PA      | $14323064.65  | 0.31%             | 2029-02-01      | Floating      | 10.31%                | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $14943.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                         | Palmer Square CLO 2024-2 LTD                                                                  | CUSIP: 69703MAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6600000 | PA      | $5082250.80   | 0.11%             | 2037-07-20      | Variable      | 5.82%                 | No            |                  3 | On Loan: No      |
| SURF HOLDINGS LLC                                             | Surf Holdings LLC 2025 Incremental Term Loan                                                  | CUSIP: 86875TAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2976455 | PA      | $2978508.43   | 0.06%             | 2027-03-05      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| AIMBRIDGE ACQUISITION CO INC                                  | AIMBRIDGE ACQUISITION CO INC                                                                  | CUSIP: 000000000<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | EC               | CORP              | US        |      4280 | NS      | $208735.60    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| DRILLING INFO HOLDINGS INC PIP                                | DRILLING INFO HOLDINGS INC PIP                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    635329 | NS      | $635328.83    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| BULLHORN INC                                                  | Bullhorn Inc 2019 GBP Term Loan                                                               | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | Long             | LON              | CORP              | US        |  10422070 | PA      | $13937562.69  | 0.30%             | 2029-10-01      | Floating      | 8.97%                 | No            |                  3 | On Loan: No      |
| Verifone Systems Inc                                          | Verifone Systems Inc 2025 Term Loan                                                           | CUSIP: 000000000<br>LEI: 254900LTTVM8MM9RKV75 | Long             | LON              | CORP              | US        |   2405640 | PA      | $2323102.16   | 0.05%             | 2028-08-18      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                         | Palmer Square CLO 2021-4 Ltd                                                                  | CUSIP: 69702GAG5<br>LEI: 254900HTQ89UZTKY6247 | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3525329.50   | 0.08%             | 2038-07-15      | Floating      | 10.02%                | No            |                  3 | On Loan: No      |
| Symphony CLO Ltd                                              | Symphony CLO XXXIII Ltd                                                                       | CUSIP: 87169KAE9<br>LEI: 254900K6DKU2R9SF7M98 | Long             | ABS-CBDO         | CORP              | JE        |   5000000 | PA      | $4836760.00   | 0.10%             | 2038-01-24      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| Spotless Brands LLC                                           | Spotless Brands LLC Delayed Draw Term Loan D                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7421250 | PA      | $7458356.25   | 0.16%             | 2028-07-25      | Floating      | 9.62%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $349.42       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Celerion BuyerInc                                             | Celerion BuyerInc Delayed Draw Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    249361 | PA      | $250607.42    | 0.01%             | 2029-11-05      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| HIG INTERMEDIATE, INC.                                        | HIG INTERMEDIATE, INC.                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       921 | NS      | $909888.26    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Allegro CLO Ltd                                               | Allegro CLO XV Ltd                                                                            | CUSIP: 01749KAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2500000 | PA      | $2452575.00   | 0.05%             | 2038-04-20      | Floating      | 9.83%                 | No            |                  3 | On Loan: No      |
| OAK PURCHASER INC                                             | Oak Purchaser Inc 2025 3rd Amendment Delayed Draw Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2626545 | PA      | $2598310.06   | 0.06%             | 2028-05-31      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| AI AQUA MERGER SUB INC                                        | AI Aqua Merger Sub Inc 2024 1st Lien Term Loan B                                              | CUSIP: 00132UAP9<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |  11066856 | PA      | $11086666.13  | 0.24%             | 2028-07-31      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| YOUR.WORLD HOLDCO B.V.                                        | YOUR.WORLD HOLDCO B.V.                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |  53637824 | NS      | $63351364.16  | 1.37%             |  |  |  | No            |                  3 | On Loan: No      |
| Anchorage Capital CLO LTD                                     | Anchorage Capital CLO 21 Ltd                                                                  | CUSIP: 03331LAC1<br>LEI: 54930063NKPB83QNUF90 | Long             | ABS-CBDO         | CORP              | KY        |   4149375 | PA      | $1973708.31   | 0.04%             | 2034-10-20      | Variable      | 5.22%                 | No            |                  3 | On Loan: No      |
| Regatta VI Funding Ltd.                                       | Regatta VI Funding Ltd                                                                        | CUSIP: 75887PAN4<br>LEI: 2549001NU08X5ZRD6A39 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2500000.00   | 0.05%             | 2034-04-20      | Floating      | 11.34%                | No            |                  3 | On Loan: No      |
| MATERIAL HOLDINGS LLC                                         | MATERIAL HOLDINGS LLC                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |      2877 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Onepoint                                                      | Onepoint EUR Tranche 5 Delyed Draw Term Loan                                                  | CUSIP: 000000000<br>LEI: 8945007TRUIQ6OBZWV08 | Long             | LON              | CORP              | FR        |   1295386 | PA      | $1509441.84   | 0.03%             | 2031-11-03      | Fixed         | 2.20%                 | No            |                  3 | On Loan: No      |
| ABPCI Direct Lending Fund CLO Ltd                             | ABPCI Direct Lending Fund CLO XVII LLC                                                        | CUSIP: 00112AAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3300000 | PA      | $3313899.60   | 0.07%             | 2036-08-01      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| AFFIRM INC                                                    | AFFIRM INC                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10885400 | PA      | $0.00         | 0.00%             | 2029-05-15      | Variable      | 0.52%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-209.34      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Aston (XLN) Topco Limited                                     | Aston (XLN) Topco Limited 2025 GBP PIK Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | JE        |  10513423 | PA      | $13786009.84  | 0.30%             | 2033-07-26      | Floating      | 14.97%                | No            |                  3 | On Loan: No      |
| RAVEN ACQUISITION HOLDINGS LLC                                | Raven Acquisition Holdings LLC Delayed Draw Term Loan                                         | CUSIP: 75419XAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    555533 | PA      | $555188.57    | 0.01%             | 2031-11-19      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $149.53       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $4241.39      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $372.37       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-1766.13     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Floating Infrastructure Holdings Finance LLC                  | Floating Infrastructure Holdings Finance LLC Term Loan A                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13178405 | PA      | $13178405.19  | 0.29%             | 2027-08-13      | Fixed         | 9.00%                 | No            |                  3 | On Loan: No      |
| Excelitas Technologies Corp                                   | Excelitas Technologies Corp 2022 EUR Term Loan                                                | CUSIP: 000000000<br>LEI: 5493001KJFQIB7D17Q74 | Long             | LON              | CORP              | US        |   3857580 | PA      | $4528994.01   | 0.10%             | 2029-08-13      | Floating      | 7.16%                 | No            |                  3 | On Loan: No      |
| United Flow Technologies Intermediate Holdco II LLC           | United Flow Technologies Intermediate Holdco II LLC 2024 Revolver                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1117318 | PA      | $1117318.44   | 0.02%             | 2030-06-21      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $1173.14      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                          | BlueMountain CLO XXIV Ltd                                                                     | CUSIP: 09629XAE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3921136.00   | 0.08%             | 2034-04-20      | Floating      | 11.43%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-4853126.84  | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                      | Madison Park Funding LVIII Ltd                                                                | CUSIP: 55822LAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6041124.00   | 0.13%             | 2037-04-25      | Floating      | 10.97%                | No            |                  3 | On Loan: No      |
| Neuberger Berman CLO Ltd                                      | Neuberger Berman Loan Advisers CLO 36R Ltd                                                    | CUSIP: 64090FAA1<br>LEI: 254900RBT2LAQQHMHG60 | Long             | ABS-CBDO         | CORP              | KY        |   4270000 | PA      | $4284475.30   | 0.09%             | 2039-07-20      | Floating      | 9.18%                 | No            |                  3 | On Loan: No      |
| Mitchell International, Inc.                                  | Mitchell International Inc 2024 1st Lien Term Loan                                            | CUSIP: 60662WAW2<br>LEI: 5493002RDNIGEM7SSV41 | Long             | LON              | CORP              | US        |   6825975 | PA      | $6815803.92   | 0.15%             | 2031-06-17      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4551.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CST Holding Company                                           | CST Holding Company Revolver                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    235110 | PA      | $236285.25    | 0.01%             | 2028-11-01      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $742.43       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RFS OPCO LLC                                                  | RFS OPCO LLC 2025 DELAYED DRAW TERM LOAN                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3034682 | PA      | $3017917.25   | 0.07%             | 2031-04-04      | Fixed         | 2.00%                 | No            |                  3 | On Loan: No      |
| CLIFFWATER LLC                                                | Cliffwater LLC 2025 2nd Amendment Revolver                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2598641 | PA      | $2588269.01   | 0.06%             | 2032-04-22      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Elmwood CLO IX Ltd                                            | Elmwood CLO IX Ltd                                                                            | CUSIP: 29003VAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1650000 | PA      | $1657865.55   | 0.04%             | 2038-04-20      | Floating      | 8.98%                 | No            |                  3 | On Loan: No      |
| Bryant Park Funding Ltd                                       | Bryant Park Funding 2024-25 Ltd                                                               | CUSIP: 117914AA9<br>LEI: 391200WG98O5N39H7C57 | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6055902.00   | 0.13%             | 2038-01-18      | Floating      | 10.08%                | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                                              | CIFC Funding 2023-I Ltd                                                                       | CUSIP: 12575BAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6000000.00   | 0.13%             | 2037-10-15      | Floating      | 11.47%                | No            |                  3 | On Loan: No      |
| Helios Buyer Inc                                              | Helios Buyer Inc Delayed Draw Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2236939 | PA      | $2172251.18   | 0.05%             | 2026-12-15      | Floating      | 10.10%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-1711029.77  | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Bryant Park Funding Ltd                                       | Bryant Park Funding 2023-21 Ltd                                                               | CUSIP: 117650AJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4800000 | PA      | $4800000.00   | 0.10%             | 2036-10-18      | Floating      | 9.78%                 | No            |                  3 | On Loan: No      |
| VENSURE EMPLOYER SERVICES INC                                 | Vensure Employer Services Inc 2024 Term Loan                                                  | CUSIP: 92276AAU5<br>LEI: 549300OI92ZMA6M8UW59 | Long             | LON              | CORP              | US        |  69756369 | PA      | $69193463.95  | 1.50%             | 2031-09-29      | Floating      | 9.33%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-162230.47   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-982814.13   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                                                | Barings Clo Ltd 2021-III                                                                      | CUSIP: 06762UAC2<br>LEI: 549300V1VT2NXKFG0H98 | Long             | ABS-CBDO         | CORP              | KY        |  14100000 | PA      | $4614013.50   | 0.10%             | 2035-01-18      | Variable      | 1.00%                 | No            |                  3 | On Loan: No      |
| PF Atlantic Holdco 2 LLC                                      | PF Atlantic Holdco 2 LLC 2021 Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9956635 | PA      | $9956634.51   | 0.22%             | 2027-11-12      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| SEAHAWK BIDCO LLC                                             | Seahawk Bidco LLC Term Loan                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  37136117 | PA      | $37185704.11  | 0.81%             | 2031-12-19      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| ORTHRUS LIMITED                                               | Orthrus Limited 2024 EUR PIK Senior Term Loan                                                 | CUSIP: 000000000<br>LEI: 254900HRIQNQKM97Y369 | Long             | LON              | CORP              | JE        |   7370325 | PA      | $8566603.65   | 0.19%             | 2031-12-05      | Floating      | 5.58%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $41812.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GS AcquisitionCo Inc                                          | GS AcquisitionCo Inc Term Loan                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13659008 | PA      | $13659007.54  | 0.30%             | 2028-05-25      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| EOC Borrower LLC                                              | EOC Borrower LLC Term Loan B                                                                  | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2743125 | PA      | $2741753.44   | 0.06%             | 2032-03-24      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Medical Manufacturing Technologies, LLC                       | Medical Manufacturing Technologies LLC 2025 2nd Amendment Incremental Term Loan               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9157699 | PA      | $9156193.89   | 0.20%             | 2027-12-23      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| AAH TOPCO LLC                                                 | AAH Topco LLC 2025 Delayed Draw Term Loan Class C                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    980392 | PA      | $974434.78    | 0.02%             | 2027-12-22      | Floating      | 9.26%                 | No            |                  3 | On Loan: No      |
| ConnectWise LLC                                               | ConnectWise LLC 2021 Term Loan B                                                              | CUSIP: 20786NAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11846154 | PA      | $11858829.23  | 0.26%             | 2028-09-29      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| Octagon 62 Ltd                                                | Octagon 62 Ltd                                                                                | CUSIP: 675938AE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2012522.00   | 0.04%             | 2038-01-23      | Floating      | 10.72%                | No            |                  3 | On Loan: No      |
| EINSTEIN PARENT INC                                           | Einstein Parent Inc Term Loan                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  45557126 | PA      | $44493560.81  | 0.96%             | 2031-01-22      | Floating      | 10.83%                | No            |                  3 | On Loan: No      |
| HELIOS SOFTWARE HOLDINGS INC                                  | Helios Software Holdings Inc 2025 USD Term Loan B                                             | CUSIP: 42328DAN8<br>LEI: 2138002XO5EAYFHPPT53 | Long             | LON              | CORP              | US        |   5091589 | PA      | $5092658.34   | 0.11%             | 2030-07-18      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| EXCELITAS TECHNOLOGIES CORP                                   | Excelitas Technologies Corp 2024 2nd Amendment Delayed Draw Term Loan                         | CUSIP: 000000000<br>LEI: 5493001KJFQIB7D17Q74 | Long             | LON              | CORP              | US        |   7411171 | PA      | $7411170.71   | 0.16%             | 2029-08-13      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Coupa HoldingsLLC                                             | Coupa HoldingsLLC Delayed Draw Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    578450 | PA      | $581341.97    | 0.01%             | 2030-02-27      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Bausch & Lomb Corporation                                     | Bausch & Lomb Corporation 2025 Term Loan B                                                    | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |   9975000 | PA      | $9966720.75   | 0.22%             | 2031-01-15      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| BINGO GROUP BUYER INC                                         | Bingo Group Buyer Inc Initial Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8542008 | PA      | $8542008.21   | 0.18%             | 2031-07-10      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| Pound Bidco Inc                                               | Pound Bidco Inc Revolver                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    996678 | PA      | $994273.14    | 0.02%             | 2027-02-01      | Floating      | 10.14%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-35527.10    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Twin Brook CLO                                                | Twin Brook CLO 2024-1 LLC                                                                     | CUSIP: 901397AJ8<br>LEI: 25490052W6AFT64PYP74 | Long             | ABS-CBDO         | CORP              | US        |   6500000 | PA      | $6529081.00   | 0.14%             | 2036-07-20      | Floating      | 9.28%                 | No            |                  3 | On Loan: No      |
| Hadrian Acquisition Limited                                   | Hadrian Acquisition Limited GBP PIK Acquisition Term Loan                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   7626104 | PA      | $10307625.18  | 0.22%             | 2029-02-28      | Floating      | 8.97%                 | No            |                  3 | On Loan: No      |
| BUCKEYE GROUP HOLDINGS, L.P                                   | BUCKEYE GROUP HOLDINGS, L.P                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   5123437 | NS      | $414055.72    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Sound Point CLO LTD                                           | Sound Point CLO XXIX Ltd                                                                      | CUSIP: 83615GAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3814112.00   | 0.08%             | 2034-04-25      | Floating      | 11.43%                | No            |                  3 | On Loan: No      |
| EAB Global Inc                                                | EAB Global Inc 2021 Term Loan                                                                 | CUSIP: 26835CAC3<br>LEI: 254900WJRUVZKYEF1M36 | Long             | LON              | CORP              | US        |   4892475 | PA      | $4758812.15   | 0.10%             | 2030-08-16      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Rocket Software Inc                                           | Rocket Software Inc 2023 USD Term Loan B                                                      | CUSIP: 77313DAW1<br>LEI: 549300PVG26ISP5X1556 | Long             | LON              | CORP              | US        |  11805849 | PA      | $11823912.16  | 0.26%             | 2028-11-28      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| ABPCI Direct Lending Fund CLO Ltd                             | ABPCI DIRECT LENDING FUND CLO V LTD                                                           | CUSIP: 000807BC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   5275000 | PA      | $5318371.05   | 0.12%             | 2036-01-20      | Floating      | 10.08%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-13656.73    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Allegro CLO Ltd                                               | Allegro CLO XVII Ltd                                                                          | CUSIP: 01751WAE8<br>LEI: 213800WM4HOIEMCU1G38 | Long             | ABS-CBDO         | CORP              | JE        |   1875000 | PA      | $1494616.88   | 0.03%             | 2038-07-25      | Variable      | 4.10%                 | No            |                  3 | On Loan: No      |
| Providus CLO                                                  | Providus CLO VII DAC                                                                          | CUSIP: 000000000<br>LEI: 635400OQK4TE73VPI361 | Long             | ABS-CBDO         | CORP              | IE        |   2250000 | PA      | $2657764.82   | 0.06%             | 2038-07-15      | Floating      | 8.45%                 | No            |                  3 | On Loan: No      |
| Associations, Inc.                                            | Associations Inc 2024 PIK Holdco Note Term Loan B                                             | CUSIP: 000000000<br>LEI: 5493002YPB5JWSX8PX14 | Long             | LON              | CORP              | US        |   5064859 | PA      | $5080237.82   | 0.11%             | 2030-05-03      | Floating      | 14.25%                | No            |                  3 | On Loan: No      |
| OAK PURCHASER INC                                             | Oak Purchaser Inc 2025 3rd Amendment Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    358165 | PA      | $354315.01    | 0.01%             | 2028-05-31      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| ADAMS OUTDOOR ADVERTISING                                     | Adams Outdoor Advertising LP                                                                  | CUSIP: 006346AY6<br>LEI: 549300BTFXNHDCUHER30 | Long             | ABS-O            | CORP              | US        |  10000000 | PA      | $10558637.00  | 0.23%             | 2053-07-15      | Fixed         | 11.71%                | No            |                  3 | On Loan: No      |
| BIG BUS TOURS BIDCO LIMITED                                   | Big Bus Tours Bidco Limited 2024 EUR Capex Acquisition - 07/17 Borrowing                      | CUSIP: 000000000<br>LEI: 213800X8KI4J15PBLJ45 | Long             | LON              | CORP              | GB        |   1144371 | PA      | $1306601.41   | 0.03%             | 2031-06-04      | Floating      | 10.13%                | No            |                  3 | On Loan: No      |
| Azurite Intermediate Holdings Inc                             | Azurite Intermediate Holdings Inc Delayed Draw Term Loan                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14905858 | PA      | $15054916.32  | 0.33%             | 2031-03-19      | Floating      | 10.16%                | No            |                  3 | On Loan: No      |
| VCP RRL ABS Ltd                                               | VCP RRL ABS III Ltd                                                                           | CUSIP: 91825DAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15220583 | PA      | $15284540.08  | 0.33%             | 2034-04-20      | Floating      | 9.78%                 | No            |                  3 | On Loan: No      |
| DCA Investment Holdings LLC                                   | DCA Investment Holdings LLC 2022 Incremental Term Loan                                        | CUSIP: 000000000<br>LEI: 2549008I5FPT6I8CFZ85 | Long             | LON              | CORP              | US        |   1431235 | PA      | $1352195.54   | 0.03%             | 2028-04-03      | Floating      | 10.41%                | No            |                  3 | On Loan: No      |
| PROPIO LS LLC                                                 | Propio LS LLC 2025 Revolver                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     81454 | PA      | $81039.67     | 0.00%             | 2030-05-10      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $1165.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BIRSA SPA                                                     | Birsa SpA EUR Acquisition Facility                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12689309 | PA      | $14674422.82  | 0.32%             | 2031-06-30      | Floating      | 7.25%                 | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                                              | CIFC Funding 2024-II Ltd                                                                      | CUSIP: 17181VAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5650000 | PA      | $5715703.85   | 0.12%             | 2037-04-22      | Floating      | 10.73%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-55034.55    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.                                              | Empower CLO 2024-1 Ltd                                                                        | CUSIP: 29244RAG0<br>LEI: 213800DM8ZNUIQ1JCN40 | Long             | ABS-CBDO         | CORP              | KY        |  14000000 | PA      | $14109256.00  | 0.31%             | 2037-04-25      | Floating      | 8.07%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-275804.44   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MONROE CAPITAL CFO I LTD                                      | MONROE CAPITAL CFO I LTD                                                                      | CUSIP: 000000000<br>LEI: 254900AIUNYCSBR6UD27 | Long             | ABS-O            | CORP              | US        |  48020000 | PA      | $48020000.00  | 1.04%             | 2039-05-15      | Variable      | 8.45%                 | No            |                  3 | On Loan: No      |
| COBHAM ULTRA 1 CY S.C.A.                                      | COBHAM ULTRA 1 CY S.C.A.                                                                      | CUSIP: 000000000<br>LEI: 254900L6IKLPZKIC4F32 | Long             | EC               | CORP              | GB        |   2831076 | NS      | $53790.44     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Morettiholding S.P.A.                                         | Morettiholding SPA EUR PIK Note Term Loan                                                     | CUSIP: 000000000<br>LEI: 815600A6D2EB2E3F1D68 | Long             | LON              | CORP              | GB        |  21963824 | PA      | $25141976.40  | 0.54%             | 2032-03-18      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC Delayed Draw Term Loan B                                            | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |    633477 | PA      | $633476.83    | 0.01%             | 2028-08-05      | Floating      | 9.95%                 | No            |                  3 | On Loan: No      |
| BULLHORN INC                                                  | Bullhorn Inc 2024 8th Amendment Delayed Draw Term Loan 1                                      | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | Long             | LON              | CORP              | US        |  16699522 | PA      | $16605312.36  | 0.36%             | 2029-10-01      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| VCP RRL ABS Ltd                                               | VCP RRL ABS III Ltd                                                                           | CUSIP: 91825DAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8413863 | PA      | $8349176.98   | 0.18%             | 2034-04-20      | Floating      | 11.28%                | No            |                  3 | On Loan: No      |
| Guggenheim Inv PDF IV Rated Note Feeder, LLC                  | Guggenheim Inv PDF IV Rated Note Feeder LLC Delayed Draw Term Loan A1                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9782609 | PA      | $9782609.00   | 0.21%             | 2038-04-10      | Floating      | 6.77%                 | No            |                  3 | On Loan: No      |
| PEARLS (Netherlands) Bidco BV                                 | PEARLS (Netherlands) Bidco BV 2022 USD Term Loan B                                            | CUSIP: 000000000<br>LEI: 2549005MTFX0VLL0UQ17 | Long             | LON              | CORP              | US        |   2896175 | PA      | $2717567.62   | 0.06%             | 2029-02-26      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| BUCKEYE GROUP HOLDINGS, L.P.                                  | BUCKEYE GROUP HOLDINGS, L.P.                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   9427083 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| SPEEDSTAR HOLDING CORPORATION                                 | Speedstar Holding Corporation 2024 3rd Amendment Incremental Term Loan                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11938580 | PA      | $11714576.53  | 0.25%             | 2027-07-22      | Floating      | 10.29%                | No            |                  3 | On Loan: No      |
| Advanced Web Technologies Holding Company                     | Advanced Web Technologies Holding Company New Delayed Draw Term Loan                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    736290 | PA      | $735409.55    | 0.02%             | 2027-12-17      | Floating      | 7.84%                 | No            |                  3 | On Loan: No      |
| Denali Midco 2 LLC                                            | Denali Midco 2 LLC 2022 Incremental Delayed Draw Term Loan                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1307955 | PA      | $1301308.19   | 0.03%             | 2028-12-22      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co IV LLC                       | Coreweave Compute Acquisition Co IV LLC 2024 DDTL - 12/31 Borrowing                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4079889 | PA      | $4028890.78   | 0.09%             | 2031-12-10      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-3055271.09  | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| PAM BIDCO LIMITED                                             | PAM Bidco Limited GBP Capex Acquisition Facility B                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   9875377 | PA      | $13115371.27  | 0.28%             | 2031-10-15      | Floating      | 11.52%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-1073730.33  | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                         | KKR CLO 36 Ltd                                                                                | CUSIP: 48254XAC3<br>LEI: 25490057CIZ1GI9ZCN22 | Long             | ABS-CBDO         | CORP              | KY        |   8600000 | PA      | $2412076.40   | 0.05%             | 2034-10-15      | Variable      | 4.59%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-13398.54    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chartis Group, LLC (The)                                      | Chartis Group LLC (The) 2024 1st Lien Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  30995309 | PA      | $31267231.28  | 0.68%             | 2031-09-17      | Floating      | 8.52%                 | No            |                  3 | On Loan: No      |
| Marble Point CLO XX Ltd                                       | Marble Point CLO XX Ltd                                                                       | CUSIP: 566063AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2503260.00   | 0.05%             | 2034-04-23      | Floating      | 11.69%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-87966.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ENKINDLE LIMITED                                              | Enkindle Limited GBP PIK Facility B2                                                          | CUSIP: 000000000<br>LEI: 213800DIMLCM7UULLQ77 | Long             | LON              | CORP              | IM        |  10205693 | PA      | $13382490.50  | 0.29%             | 2031-04-16      | Floating      | 7.79%                 | No            |                  3 | On Loan: No      |
| Appriss Health LLC                                            | Appriss Health LLC Term Loan                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6498230 | PA      | $6502160.10   | 0.14%             | 2027-05-06      | Floating      | 9.02%                 | No            |                  3 | On Loan: No      |
| Venture CDO Ltd                                               | Venture 45 Clo Ltd                                                                            | CUSIP: 92326HAA4<br>LEI: 549300ZDR5K71IXJ2M57 | Long             | ABS-CBDO         | CORP              | JE        |  10000000 | PA      | $7964180.00   | 0.17%             | 2035-07-20      | Floating      | 12.03%                | No            |                  3 | On Loan: No      |
| Elmwood CLO 22 Ltd                                            | Elmwood CLO 22 Ltd                                                                            | CUSIP: 29002EAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5004500.00   | 0.11%             | 2038-04-17      | Floating      | 9.12%                 | No            |                  3 | On Loan: No      |
| Project Alpha Intermediate Holding, Inc.                      | Project Alpha Intermediate Holding Inc 2024 1st Lien Term Loan B                              | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2992462 | PA      | $2999255.20   | 0.06%             | 2030-10-26      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Celerion BuyerInc                                             | Celerion BuyerInc Term Loan                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1532620 | PA      | $1540283.27   | 0.03%             | 2029-11-05      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| PCF HOLDCO, LLC                                               | PCF HOLDCO, LLC                                                                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    386981 | NS      | $1381522.17   | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| 48Forty Solutions LLC                                         | 48Forty Solutions LLC Revolver                                                                | CUSIP: 02082AAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3447004 | PA      | $1695160.94   | 0.04%             | 2029-11-30      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Apex Companies Holdings LLC                                   | Apex Companies Holdings LLC Specified Delayed Draw Term Loan                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    147005 | PA      | $146950.34    | 0.00%             | 2028-01-31      | Floating      | 9.56%                 | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                                              | CIFC Funding 2023-I Ltd                                                                       | CUSIP: 12575BAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   9000000 | PA      | $9000000.00   | 0.19%             | 2038-10-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Babson CLO Ltd                                                | Barings CLO Ltd 2025-I                                                                        | CUSIP: 067928AC5<br>LEI: 2549000XGGHFFMGI1592 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4427625.00   | 0.10%             | 2038-04-20      | Variable      | 8.13%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $15428.25     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COBHAM ULTRA PIKCO SA RL                                      | COBHAM ULTRA PIKCO SA RL                                                                      | CUSIP: 000000000<br>LEI: 254900GYBSLRNO94DC86 | Long             | DBT              | CORP              | GB        |  16071367 | PA      | $16111545.23  | 0.35%             | 2031-08-04      | Variable      | 13.35%                | No            |                  3 | On Loan: No      |
| Anchorage Capital CLO LTD                                     | Anchorage Capital Clo 18 Ltd                                                                  | CUSIP: 03331BAJ8<br>LEI: 549300JIJ617WYIUFX18 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4010404.00   | 0.09%             | 2034-04-15      | Floating      | 11.04%                | No            |                  3 | On Loan: No      |
| BIG BUS TOURS BIDCO LIMITED                                   | Big Bus Tours Bidco Limited 2024 Capex Acquisition Facility                                   | CUSIP: 000000000<br>LEI: 213800X8KI4J15PBLJ45 | Long             | LON              | CORP              | GB        |   3245785 | PA      | $3156525.57   | 0.07%             | 2031-06-04      | Floating      | 12.41%                | No            |                  3 | On Loan: No      |
| Macquarie Capital Securities Ltd.                             | Long: MACQ IRS2 IRS USD R F  4.06700 / Short: MACQ IRS2 IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |  25000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BIANALISI SPA                                                 | Bianalisi SPA EUR Term Loan                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IT        |  35485365 | PA      | $40828383.66  | 0.88%             | 2032-02-26      | Floating      | 7.93%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-852903.25   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Smarsh, Inc.                                                  | Smarsh Inc 2025 Term Loan                                                                     | CUSIP: 000000000<br>LEI: 549300DEPB8M6RR0JB42 | Long             | LON              | CORP              | US        |   5356918 | PA      | $5383702.89   | 0.12%             | 2029-02-16      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| RACKSPACE TECHNOLOGY                                          | Rackspace Technology Global Inc                                                               | CUSIP: 750098AA3<br>LEI: 549300QTYCKLMFSE8I97 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $519000.00    | 0.01%             | 2028-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHAMBERLAIN GROUP INC                                         | CHAMBERLAIN GROUP INC 2025 TERM LOAN B                                                        | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |  10000000 | PA      | $10004200.00  | 0.22%             | 2032-09-08      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| BIG BUS TOURS BIDCO LIMITED                                   | Big Bus Tours Bidco Limited 2024 EUR Term Loan B                                              | CUSIP: 000000000<br>LEI: 213800X8KI4J15PBLJ45 | Long             | LON              | CORP              | GB        |  16730469 | PA      | $19102252.16  | 0.41%             | 2031-06-04      | Floating      | 10.38%                | No            |                  3 | On Loan: No      |
| Nearmap Ltd                                                   | Nearmap Ltd Term Loan                                                                         | CUSIP: 000000000<br>LEI: 529900TWDTDW761KGY70 | Long             | LON              | CORP              | AU        |         0 | PA      | $0.00         | 0.00%             | 2029-12-09      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $1218.24      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RR Ltd                                                        | RR 24 Ltd                                                                                     | CUSIP: 75000CAL9<br>LEI: 2549005CH9FMTJFP8I04 | Long             | ABS-CBDO         | CORP              | BM        |   4760000 | PA      | $4778773.44   | 0.10%             | 2037-01-15      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| Affirm Inc                                                    | Affirm Asset Securitization Trust 2024-X1                                                     | CUSIP: 00834XAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    108854 | PA      | $1143749.77   | 0.02%             | 2029-05-15      | Variable      | 100.00%               | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD NOK                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-2896225.58  | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                                 | Truist Insurance Holdings LLC 2024 Term Loan B                                                | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6217742 | PA      | $6208042.26   | 0.13%             | 2031-05-06      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-12788.29    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AQA Acquisition Holding Inc                                   | AQA Acquisition Holding Inc 2021 2nd Lien Term Loan                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  18856313 | PA      | $18756901.56  | 0.41%             | 2029-03-02      | Floating      | 10.56%                | No            |                  3 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE INC                                   | GLOBAL MEDICAL RESPONSE INC 2025 TERM LOAN B                                                  | CUSIP: 37956SAB0<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | LON              | CORP              | US        |  10000000 | PA      | $10000500.00  | 0.22%             | 2032-10-01      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| OCP Euro CLO                                                  | OCP Euro CLO 2020-4 DAC                                                                       | CUSIP: 000000000<br>LEI: 635400NSID6FARUW3W95 | Long             | ABS-CBDO         | CORP              | IE        |   3500000 | PA      | $4085570.10   | 0.09%             | 2039-10-20      | Floating      | 7.67%                 | No            |                  3 | On Loan: No      |
| AVALARA INC                                                   | Avalara Inc 2025 Term Loan B                                                                  | CUSIP: 05338KAB3<br>LEI: 549300Q16CMW239SS315 | Long             | LON              | CORP              | US        |   6982500 | PA      | $6980544.90   | 0.15%             | 2032-03-26      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                            | PINNACLE BUYER LLC DELAYED DRAW TERM LOAN                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    483871 | PA      | $484475.80    | 0.01%             | 2032-09-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Element Materials Technology Group US Holdings Inc            | Element Materials Technology Group US Holdings Inc 2022 USD Term Loan                         | CUSIP: 000000000<br>LEI: 213800EGOJGGUKUGEZ30 | Long             | LON              | CORP              | US        |   6580666 | PA      | $6615608.95   | 0.14%             | 2029-07-06      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| PROJECT TIGER SARL                                            | PROJECT TIGER SARL                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | LU        |   7751938 | NS      | $9101167.92   | 0.20%             |  |  |  | No            |                  3 | On Loan: No      |
| Generate CLO Ltd.                                             | Generate CLO 7 Ltd                                                                            | CUSIP: 37147NAC9<br>LEI: 25490036G9JNQQPHIX69 | Long             | ABS-CBDO         | CORP              | KY        |   6540000 | PA      | $6383635.14   | 0.14%             | 2037-04-22      | Floating      | 11.27%                | No            |                  3 | On Loan: No      |
| Dexian LLC                                                    | Dexian LLC Term Loan                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  25317244 | PA      | $24937485.26  | 0.54%             | 2030-02-19      | Floating      | 11.54%                | No            |                  3 | On Loan: No      |
| ARES CLO Ltd                                                  | Ares LV CLO Ltd                                                                               | CUSIP: 04018DAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  12439546 | PA      | $8767043.71   | 0.19%             | 2037-10-15      | Variable      | 7.71%                 | No            |                  3 | On Loan: No      |
| Mavis Tire Express Services Corp.                             | Mavis Tire Express Services Corp 2025 Repriced Term Loan                                      | CUSIP: 57777YAG1<br>LEI: 254900NVDM4GTLBL9E56 | Long             | LON              | CORP              | US        |   8336568 | PA      | $8331732.80   | 0.18%             | 2028-05-04      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-10646.72    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CBAM CLO Management                                           | CBAM 2017-3 Ltd                                                                               | CUSIP: 12481JAG6<br>LEI: 254900EGQJ2K45U5LM27 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3917832.00   | 0.08%             | 2034-07-17      | Floating      | 11.69%                | No            |                  3 | On Loan: No      |
| APEX COMPANIES HOLDINGS LLC                                   | Apex Companies Holdings LLC 2024 3rd Amendment Delayed Draw Term Loan                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5886301 | PA      | $5884120.67   | 0.13%             | 2028-01-31      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| SANTIAGO HOLDINGS LP                                          | SANTIAGO HOLDINGS LP                                                                          | CUSIP: 000000000<br>LEI: 25490072VIOWWAIJZ011 | Long             | ABS-CBDO         | CORP              | US        |  74819060 | PA      | $59533526.41  | 1.29%             | 2027-07-09      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED GBP / SOLD USD                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | GB        |         1 | NC      | $185.35       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARTIFACT BIDCO INC                                            | Artifact Bidco Inc Delayed Draw Term Loan                                                     | CUSIP: 000000000<br>LEI: 213800OR4G59WMDKCC08 | Long             | LON              | CORP              | US        |   4310345 | PA      | $4331896.55   | 0.09%             | 2031-07-28      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| AURORA PLASTICS                                               | Aurora Plastics 2021 First Lien Term Loan B                                                   | CUSIP: 00217KAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  18973471 | PA      | $18984770.16  | 0.41%             | 2030-08-12      | Floating      | 9.13%                 | No            |                  3 | On Loan: No      |
| Greenhouse Software Inc                                       | Greenhouse Software Inc Revolver                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    735294 | PA      | $735294.12    | 0.02%             | 2028-09-01      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| ASCEND BUYER LLC                                              | Ascend Buyer LLC 2025 4th Amendment Term Loan                                                 | CUSIP: 000000000<br>LEI: 25490017H0M91THI5T92 | Long             | LON              | CORP              | US        |   1122764 | PA      | $1119476.63   | 0.02%             | 2028-09-29      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| DCA Investment Holdings LLC                                   | DCA Investment Holdings LLC 2022 3rd Amendment Delayed Draw Term Loan                         | CUSIP: 000000000<br>LEI: 2549008I5FPT6I8CFZ85 | Long             | LON              | CORP              | US        |    608100 | PA      | $575749.08    | 0.01%             | 2028-04-03      | Floating      | 10.50%                | No            |                  3 | On Loan: No      |
| Bluecat Networks (USA) Inc                                    | Bluecat Networks (USA) Inc 2022 Delayed Draw Term Loan A                                      | CUSIP: 000000000<br>LEI: 5493003F3N6IPSL3XU23 | Long             | LON              | CORP              | US        |    452939 | PA      | $442315.55    | 0.01%             | 2028-08-08      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| SANOPTIS PROJECT ROLLER SARL                                  | SANOPTIS PROJECT ROLLER SARL                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | LU        |  34208379 | NS      | $40162369.65  | 0.87%             |  |  |  | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-32987.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Onepoint                                                      | Onepoint EUR Tranche 4 Delyed Draw Term Loan                                                  | CUSIP: 000000000<br>LEI: 8945007TRUIQ6OBZWV08 | Long             | LON              | CORP              | FR        |   1295386 | PA      | $1509441.84   | 0.03%             | 2031-11-03      | Fixed         | 2.20%                 | No            |                  3 | On Loan: No      |
| HOWDEN GROUP HOLDINGS LTD                                     | Howden Group Holdings Ltd 2025 USD Term Loan B                                                | CUSIP: 000000000<br>LEI: 213800R6D9EVRN5D3117 | Long             | LON              | CORP              | LU        |  14813187 | PA      | $14810372.05  | 0.32%             | 2031-02-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2024 DDTL - 8/27 Borrowing                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6522181 | PA      | $6440653.92   | 0.14%             | 2029-08-27      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                                              | Cifc Funding 2023-III Ltd                                                                     | CUSIP: 12598SAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7000000 | PA      | $7075908.00   | 0.15%             | 2037-01-20      | Floating      | 11.98%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-523588.91   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-13452.84    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WINDSOR HOLDINGS III LLC                                      | Windsor Holdings III LLC 2025 USD Term Loan B                                                 | CUSIP: 97360BAH8<br>LEI: 254900IXUJZ9H146T437 | Long             | LON              | CORP              | US        |   3930449 | PA      | $3930448.74   | 0.09%             | 2030-08-01      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-53352.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                                               | Oaktree CLO 2025-31 Ltd                                                                       | CUSIP: 67403BAA5<br>LEI: 254900UVA9JUCC0JI897 | Long             | ABS-CBDO         | CORP              | KY        |  12000000 | PA      | $12028908.00  | 0.26%             | 2038-07-15      | Floating      | 9.63%                 | No            |                  3 | On Loan: No      |
| Diligent Corporation                                          | Diligent Corporation 2024 Cash Pay Term Loan A1                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  32102892 | PA      | $32263406.29  | 0.70%             | 2030-08-02      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Arini European CLO                                            | Arini European CLO I DAC                                                                      | CUSIP: 000000000<br>LEI: 635400HMSNVNUMMBE111 | Long             | ABS-CBDO         | CORP              | IE        |   3000000 | PA      | $3536529.41   | 0.08%             | 2038-10-15      | Floating      | 7.69%                 | Yes           |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-3598279.52  | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                   | OCP CLO 2020-8R Ltd                                                                           | CUSIP: 670899AQ6<br>LEI: 254900K70GBA8CMARX66 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2500000.00   | 0.05%             | 2038-10-17      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Essential Services Holding Corporation                        | Essential Services Holding Corporation 2024 Revolver                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3717600 | PA      | $3709331.72   | 0.08%             | 2030-06-17      | Floating      | 9.19%                 | No            |                  3 | On Loan: No      |
| BRADYPLUS HOLDINGS LLC                                        | Bradyplus Holdings LLC 2024 Delayed Draw Term Loan                                            | CUSIP: 000000000<br>LEI: 254900LMURL5G873DV35 | Long             | LON              | CORP              | US        |    778268 | PA      | $778267.68    | 0.02%             | 2029-10-31      | Floating      | 9.31%                 | No            |                  3 | On Loan: No      |
| SIGMA IRISH ACQUICO LIMITED                                   | Sigma Irish Acquico Limited 2025 USD Term Loan B                                              | CUSIP: 000000000<br>LEI: 254900JN2RI99LFCXX69 | Long             | LON              | CORP              | IE        |  20444444 | PA      | $20137777.80  | 0.44%             | 2032-03-19      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $390.78       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Associations, Inc.                                            | Associations Inc 2024 PIK Holdco Note Term Loan A                                             | CUSIP: 000000000<br>LEI: 5493002YPB5JWSX8PX14 | Long             | LON              | CORP              | US        |  13263297 | PA      | $13303568.97  | 0.29%             | 2030-05-03      | Floating      | 14.25%                | No            |                  3 | On Loan: No      |
| ZIPPY SHELL INCORPORATED                                      | ZIPPY SHELL INCORPORATED                                                                      | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |     23333 | NS      | $431660.50    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $2290.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-85394.98    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman Loan Advisers LaSalle Street Lending CLO Ltd | Neuberger Berman Loan Advisers Lasalle Street Lending CLO I Ltd                               | CUSIP: 640977AG9<br>LEI: 549300IDH2882S517E68 | Long             | ABS-CBDO         | CORP              | JE        |   3850000 | PA      | $3861218.90   | 0.08%             | 2036-10-25      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| DEERFIELD DAKOTA HOLDING LLC                                  | DEERFIELD DAKOTA HOLDING LLC 2025 REVOLVER                                                    | CUSIP: 000000000<br>LEI: 549300FDREJLOIGXY104 | Long             | LON              | CORP              | US        |   5555090 | PA      | $5499539.17   | 0.12%             | 2032-09-13      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Birch Grove CLO Ltd.                                          | Birch Grove Clo 9 Ltd                                                                         | CUSIP: 09077XAA4<br>LEI: 254900VS6E4BD1HWHW18 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2530302.50   | 0.05%             | 2037-10-22      | Floating      | 10.58%                | No            |                  3 | On Loan: No      |
| Neptune Bidco US Inc                                          | Neptune Bidco US Inc 2nd Lien Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  38440000 | PA      | $38440000.00  | 0.83%             | 2029-10-11      | Floating      | 14.18%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4176.11     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AMYNTA AGENCY BORROWER INC                                    | Amynta Agency Borrower Inc 2025 Term Loan B                                                   | CUSIP: 57810JAM0<br>LEI: 5493000GP6HBRVTWBO85 | Long             | LON              | CORP              | US        |   3657433 | PA      | $3642401.33   | 0.08%             | 2031-12-29      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                              | CIFC Funding 2017-V Ltd                                                                       | CUSIP: 12551NAG2<br>LEI: 635400BTAKRBKGRV3X14 | Long             | ABS-CBDO         | CORP              | KY        |   4750000 | PA      | $4754911.50   | 0.10%             | 2037-07-17      | Floating      | 10.47%                | No            |                  3 | On Loan: No      |
| VGL Midco Limited                                             | VGL Midco Limited GBP PIK Term Loan B1                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  16102879 | PA      | $21656753.49  | 0.47%             | 2026-07-12      | Floating      | 16.72%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $175.85       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Celerion Buyer,Inc.,                                          | Celerion BuyerInc 2024 2nd Amendment Incremental Term Loan                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    848751 | PA      | $852994.34    | 0.02%             | 2029-11-05      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-99546.28    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Greenhouse Software Inc                                       | Greenhouse Software Inc 2022 2nd Amendment Incremental PIK Term Loan                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1600000 | PA      | $1600000.00   | 0.03%             | 2028-09-01      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| OPTIMIZELY NORTH AMERICA INC                                  | Optimizely North America Inc USD Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6693636 | PA      | $6689414.43   | 0.14%             | 2031-10-30      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| ACR GROUP BORROWER LLC                                        | ACR Group Borrower LLC 2024 Incremental Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    868585 | PA      | $868585.07    | 0.02%             | 2028-03-31      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Thoma Bravo Credit Asset Funding ABS LLC                      | THOMA BRAVO CREDIT ASSET FUNDING ABS LLC                                                      | CUSIP: 88432YAU2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3242185 | PA      | $3248601.33   | 0.07%             | 2033-11-22      | Fixed         | 10.51%                | No            |                  3 | On Loan: No      |
| EFS Cogen Holdings I LLC                                      | EFS Cogen Holdings I LLC 2025 Term Loan B                                                     | CUSIP: 26844HAM9<br>LEI: 549300KDKPYR8NXXKI52 | Long             | LON              | CORP              | US        |   8538055 | PA      | $8587405.18   | 0.19%             | 2031-10-03      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                       | Long: GS IRS4 I IRS USD R F  5.84000 / Short: GS IRS4 I IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DIR              |  | US        | 100000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Talon MidCo 2 Limited                                         | Talon MidCo 2 Limited Term Loan                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  27178395 | PA      | $27152020.21  | 0.59%             | 2028-08-25      | Floating      | 9.44%                 | No            |                  3 | On Loan: No      |
| Oak Purchaser Inc                                             | Oak Purchaser Inc Term Loan                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5030030 | PA      | $5015221.93   | 0.11%             | 2028-05-31      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| Nader Upside 2 Sarl                                           | Nader Upside 2 Sarl EUR PIK Term Loan B                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |  57047066 | PA      | $66915867.67  | 1.45%             | 2030-03-31      | Floating      | 11.75%                | No            |                  3 | On Loan: No      |
| L Catterton Direct Lending Fund Rated Feeder, L.P.            | L Catterton Direct Lending Fund Rated Feeder LP Class C Delayed Draw Term Loan                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5696924 | PA      | $5683981.22   | 0.12%             | 2038-01-15      | Floating      | 12.25%                | No            |                  3 | On Loan: No      |
| Embark Intermediate Holdings, LLC                             | EMBARK INTERMEDITE HLDINGS LLC REVOLVER                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1190476 | PA      | $1178571.42   | 0.03%             | 2032-09-02      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-55671.71    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PROPIO LS LLC                                                 | Propio LS LLC 2025 Term Loan                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3013784 | PA      | $2998467.96   | 0.06%             | 2030-05-10      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Deltatre Bidco Limited                                        | Deltatre Bidco Limited USD CAR Facility                                                       | CUSIP: 000000000<br>LEI: 254900T2C7ABA2APHR15 | Long             | LON              | CORP              | GB        |   5812915 | PA      | $5347881.88   | 0.12%             | 2028-09-14      | Floating      | 12.01%                | No            |                  3 | On Loan: No      |
| Golub Capital Partners CLO Ltd                                | Golub Capital Partners Clo 42M-R                                                              | CUSIP: 381742AJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4800000 | PA      | $4872883.20   | 0.11%             | 2036-01-20      | Floating      | 10.41%                | No            |                  3 | On Loan: No      |
| ARES CLO Ltd                                                  | Ares XLIII CLO Ltd                                                                            | CUSIP: 04017AAJ9<br>LEI: 549300ECLIGB6OZRBA51 | Long             | ABS-CBDO         | CORP              | KY        |   6340000 | PA      | $6443208.86   | 0.14%             | 2038-01-15      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Bluecat Networks (USA) Inc.                                   | Bluecat Networks (USA) Inc 2024 Term Loan                                                     | CUSIP: 000000000<br>LEI: 5493003F3N6IPSL3XU23 | Long             | LON              | CORP              | US        |   9001006 | PA      | $8789885.51   | 0.19%             | 2028-08-08      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| EXCEL FITNESS HOLDINGS INC                                    | Excel Fitness Holdings Inc 2024 Delayed Draw Term Loan                                        | CUSIP: 30065EAV0<br>LEI: 549300C2NQL773WZ9F32 | Long             | LON              | CORP              | US        |   2332626 | PA      | $2332626.05   | 0.05%             | 2029-04-27      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| BERLIN PACKAGING LLC                                          | Berlin Packaging LLC 2025 Term Loan B7                                                        | CUSIP: 08511LBD9<br>LEI: 549300L1HNHO6QOXHH42 | Long             | LON              | CORP              | US        |   3934757 | PA      | $3944594.27   | 0.09%             | 2031-06-07      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| DCA Investment Holdings LLC                                   | DCA Investment Holdings LLC 2021 Delayed Draw Term Loan                                       | CUSIP: 000000000<br>LEI: 2549008I5FPT6I8CFZ85 | Long             | LON              | CORP              | US        |    475117 | PA      | $448879.16    | 0.01%             | 2028-04-03      | Floating      | 10.41%                | No            |                  3 | On Loan: No      |
| REWORLD HOLDING CORP                                          | Reworld Holding Corp                                                                          | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2825439.90   | 0.06%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Medical Manufacturing Technologies LLC                        | Medical Manufacturing Technologies LLC Delayed Draw Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5009091 | PA      | $5008267.27   | 0.11%             | 2027-12-23      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-18005.97    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ACR GROUP BORROWER LLC                                        | ACR Group Borrower LLC 2024 Delayed Draw Term Loan                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    547267 | PA      | $547267.45    | 0.01%             | 2028-03-31      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $51.01        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GEN II FUND SERVICES LLC                                      | GEN II Fund Services LLC 2024 Term Loan B                                                     | CUSIP: 69381MAB1<br>LEI: 2138006XMWHEBFQ55Z05 | Long             | LON              | CORP              | US        |   4975000 | PA      | $4972910.50   | 0.11%             | 2031-11-26      | Floating      | 6.75%                 | No            |                  3 | On Loan: No      |
| Octagon 70 Alto Ltd                                           | Octagon 70 Alto Ltd                                                                           | CUSIP: 67578PAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1575000 | PA      | $1561480.20   | 0.03%             | 2036-10-20      | Floating      | 10.99%                | No            |                  3 | On Loan: No      |
| Diligent Corporation                                          | Diligent Corporation 2024 PIK Term Loan A1                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5503353 | PA      | $5530869.64   | 0.12%             | 2030-08-02      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Denali Midco 2 LLC                                            | Denali Midco 2 LLC 2022 Incremental Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4200774 | PA      | $4179425.50   | 0.09%             | 2028-12-22      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| NADER UPSIDE 2 SARL                                           | NADER UPSIDE 2 SARL 2025 EUR PIK TERM LOAN B2                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |  15459628 | PA      | $17696627.40  | 0.38%             | 2030-03-31      | Floating      | 11.76%                | No            |                  3 | On Loan: No      |
| Enverus Holdings Inc                                          | Enverus Holdings Inc Delayed Draw Term Loan                                                   | CUSIP: 000000000<br>LEI: 2549001WLQIUWC659V64 | Long             | LON              | CORP              | US        |    258861 | PA      | $258213.85    | 0.01%             | 2029-12-24      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Eyesouth Eye Care HoldCo LLC                                  | Eyesouth Eye Care HoldCo LLC 2024 Incremental Term Loan                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    542260 | PA      | $542260.13    | 0.01%             | 2029-10-05      | Floating      | 9.88%                 | No            |                  3 | On Loan: No      |
| SOFI CONSUMERLOAN 2025 1 TRUST                                | SOFI CONSUMERLOAN 2025 1 TRUST                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12418000 | PA      | $0.00         | 0.00%             | 2034-02-27      | Variable      | 4.54%                 | No            |                  3 | On Loan: No      |
| Advanced Web Technologies Holding Company                     | Advanced Web Technologies Holding Company Term Loan                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3930116 | PA      | $3925414.34   | 0.09%             | 2027-12-17      | Floating      | 7.84%                 | No            |                  3 | On Loan: No      |
| Generate CLO 8 Ltd.                                           | Generate CLO 8 Ltd                                                                            | CUSIP: 37148GAE9<br>LEI: 2549002O2LJ1LE1W2D54 | Long             | ABS-CBDO         | CORP              | KY        |   2820000 | PA      | $2805956.40   | 0.06%             | 2038-01-20      | Floating      | 10.68%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-37181.28    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ARROWHEAD GS HOLDINGS INC                                     | ARROWHEAD GS HOLDINGS INC                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      9629 | NS      | $4332937.50   | 0.09%             |  |  |  | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $233.40       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FPG INTERMEDIATE HOLDCO LLC                                   | FPG Intermediate Holdco LLC 2025 Priority Delayed Draw Term Loan B                            | CUSIP: 000000000<br>LEI: 549300UYODKEPLPB3645 | Long             | LON              | CORP              | US        |      8863 | PA      | $8863.47      | 0.00%             | 2029-07-02      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| APPLIED TECHNICAL SERVICES LLC                                | Applied Technical Services LLC 2025 Delayed Draw Term Loan A                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1258580 | PA      | $1251501.69   | 0.03%             | 2031-04-08      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                                      | Madison Park Funding LIV Ltd                                                                  | CUSIP: 558192AA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $756852.00    | 0.02%             | 2037-10-21      | Floating      | 10.83%                | No            |                  3 | On Loan: No      |
| HIG INTERMEDIATE, INC.                                        | HIG INTERMEDIATE, INC.                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     34322 | NS      | $33909044.00  | 0.73%             |  |  |  | No            |                  3 | On Loan: No      |
| Spotless Brands LLC                                           | Spotless Brands LLC Term Loan                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  20550222 | PA      | $20652973.39  | 0.45%             | 2028-07-25      | Floating      | 9.62%                 | No            |                  3 | On Loan: No      |
| Aston (XLN) Topco Limited                                     | Aston (XLN) Topco Limited 2025 GBP Term Loan                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | JE        |  11328572 | PA      | $14854895.41  | 0.32%             | 2032-07-30      | Floating      | 10.34%                | No            |                  3 | On Loan: No      |
| Harvest CLO                                                   | Harvest Clo XXIX DAC                                                                          | CUSIP: 000000000<br>LEI: 635400UTMKWBSVMHDJ97 | Long             | ABS-CBDO         | CORP              | IE        |   5000000 | PA      | $5935835.78   | 0.13%             | 2037-07-15      | Floating      | 8.30%                 | Yes           |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $1053.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ENKINDLE LIMITED                                              | Enkindle Limited GBP Acquisition Facility 3                                                   | CUSIP: 000000000<br>LEI: 213800DIMLCM7UULLQ77 | Long             | LON              | CORP              | IM        |    917600 | PA      | $1203227.18   | 0.03%             | 2031-04-06      | Floating      | 7.72%                 | No            |                  3 | On Loan: No      |
| Enverus Holdings Inc                                          | Enverus Holdings Inc Revolver                                                                 | CUSIP: 000000000<br>LEI: 2549001WLQIUWC659V64 | Long             | LON              | CORP              | US        |   1486486 | PA      | $1482770.27   | 0.03%             | 2029-12-24      | Floating      | 9.64%                 | No            |                  3 | On Loan: No      |
| CLIFFWATER LLC                                                | Cliffwater LLC 2025 2nd Amendment Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  27332855 | PA      | $27223757.79  | 0.59%             | 2032-04-22      | Floating      | 9.31%                 | No            |                  3 | On Loan: No      |
| GPC CAR ISSUER LLC                                            | GPC CAR Issuer LLC Fixed Delayed Draw Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2457425 | PA      | $2420563.53   | 0.05%             | 2031-12-31      | Fixed         | 9.75%                 | No            |                  3 | On Loan: No      |
| Mercury Financial Credit Card Master Trust                    | Mercury Financial Credit Card Master Trust                                                    | CUSIP: 58940BAW6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15572000 | PA      | $15616971.94  | 0.34%             | 2029-02-20      | Fixed         | 8.46%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-37387.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Titan Acquisition Limited                                     | Titan Acquisition Limited 2024 Term Loan B                                                    | CUSIP: 000000000<br>LEI: 5493003ZDHRVP2N4C109 | Long             | LON              | CORP              | CA        |   1977500 | PA      | $1981336.35   | 0.04%             | 2029-02-15      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Cartiere Villa Lagarina SpA                                   | Cartiere Villa Lagarina SpA                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |   2812626 | PA      | $2311515.91   | 0.05%             | 2025-12-22      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Ballyrock Ltd                                                 | Ballyrock CLO 24 Ltd                                                                          | CUSIP: 05875VAE2<br>LEI: 254900B0CDDYIJW8YL36 | Long             | ABS-CBDO         | CORP              | JE        |   3350000 | PA      | $3374692.85   | 0.07%             | 2038-07-15      | Floating      | 10.33%                | No            |                  3 | On Loan: No      |
| Excelitas Technologies Corp                                   | Excelitas Technologies Corp 2022 USD Revolver                                                 | CUSIP: 000000000<br>LEI: 5493001KJFQIB7D17Q74 | Long             | LON              | CORP              | US        |   1940288 | PA      | $1940287.88   | 0.04%             | 2028-08-14      | Floating      | 5.25%                 | No            |                  3 | On Loan: No      |
| HYPHEN SOLUTIONS LLC                                          | Hyphen Solutions LLC 2025 3rd Amendment Revolver                                              | CUSIP: 44917CAF0<br>LEI: 2549002YMYXCK42WC067 | Long             | LON              | CORP              | US        |    502355 | PA      | $499843.02    | 0.01%             | 2032-08-06      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| HYPHEN SOLUTIONS LLC                                          | Hyphen Solutions LLC 2025 3rd Amendment Term Loan                                             | CUSIP: 44917CAE3<br>LEI: 2549002YMYXCK42WC067 | Long             | LON              | CORP              | US        |   4521193 | PA      | $4498587.12   | 0.10%             | 2032-08-06      | Floating      | 8.66%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $383.29       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Wellington Management CLO                                     | Wellington Management CLO 1 Ltd                                                               | CUSIP: 94957JAG9<br>LEI: 213800W7PWM3WCMD7X28 | Long             | ABS-CBDO         | CORP              | JE        |   3150000 | PA      | $3155002.20   | 0.07%             | 2036-10-20      | Floating      | 9.18%                 | No            |                  3 | On Loan: No      |
| Regatta XXVI Funding Ltd.                                     | Regatta XXVI Funding Ltd                                                                      | CUSIP: 75900YAA6<br>LEI: 2549005JVL4XLCX5SY63 | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6069432.00   | 0.13%             | 2037-01-25      | Floating      | 12.22%                | No            |                  3 | On Loan: No      |
| GREC II CWF LLC                                               | GREC II CWF LLC                                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8820000 | PA      | $8820000.00   | 0.19%             | 2028-07-24      | Fixed         | 8.25%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-6675274.69  | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| MATERIAL HOLDINGS LLC                                         | Material Holdings LLC 2024 5th Amendment Revolver                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    143862 | PA      | $143861.98    | 0.00%             | 2027-08-19      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| AthenaHealth Group Inc                                        | Athenahealth Group Inc 2022 Term Loan B                                                       | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |   9017977 | PA      | $8995432.42   | 0.19%             | 2029-02-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Planet US Buyer LLC                                           | Planet US Buyer LLC 2024 Term Loan B                                                          | CUSIP: 72706RAB2<br>LEI: 254900ZE51SEX2EFFH74 | Long             | LON              | CORP              | US        |   3653750 | PA      | $3670045.71   | 0.08%             | 2031-02-07      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $804.81       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Orifarm Holding A/S                                           | Orifarm Holding A/S EUR PIK Term Loan                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | DK        |  45476383 | PA      | $47651982.97  | 1.03%             | 2031-12-01      | Floating      | 12.00%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $667.60       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| YOUR.WORLD HOLDCO B.V.                                        | YOUR.WORLD HOLDCO B.V.                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   3960741 | NS      | $4678011.38   | 0.10%             |  |  |  | No            |                  3 | On Loan: No      |
| Raptor Merger Sub Debt LLC                                    | Raptor Merger Sub Debt LLC First Amendment Term Loan                                          | CUSIP: 000000000<br>LEI: 254900FCZMRX1YEKJ405 | Long             | LON              | CORP              | US        |  18093028 | PA      | $18092863.31  | 0.39%             | 2029-04-01      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital Securities Ltd.                             | Long: MACQ IRS4 IRS USD R F  3.28800 / Short: MACQ IRS4 IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |  25000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-275342.82   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                              | SMB Private Education Loan Trust 2024-A                                                       | CUSIP: 831943AF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     52100 | PA      | $39596000.00  | 0.86%             | 2056-03-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Silver Point CLO, Ltd                                         | Silver Point CLO 11 Ltd                                                                       | CUSIP: 82809YAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8500000 | PA      | $8602569.50   | 0.19%             | 2038-07-15      | Floating      | 9.93%                 | No            |                  3 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                        | Cloud Software Group Inc                                                                      | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |  11329000 | PA      | $11750061.54  | 0.25%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Apex Companies Holdings, LLC                                  | Apex Companies Holdings LLC 2024 Incremental Term Loan                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    505935 | PA      | $505747.70    | 0.01%             | 2028-01-31      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| Appriss Health LLC                                            | Appriss Health LLC Revolver                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    964938 | PA      | $964938.38    | 0.02%             | 2027-05-06      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Cedar Funding Ltd                                             | Cedar Funding VI CLO Ltd                                                                      | CUSIP: 15032CAB9<br>LEI: 549300PQ60B57EBTK013 | Long             | ABS-CBDO         | CORP              | KY        |  14821729 | PA      | $6840924.55   | 0.15%             | 2034-04-20      | Variable      | 6.96%                 | No            |                  3 | On Loan: No      |
| Pound Bidco Inc                                               | Pound Bidco Inc 2024 Restatement Delayed Draw Term Loan                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   3921569 | PA      | $3912107.80   | 0.08%             | 2027-02-01      | Floating      | 10.66%                | No            |                  3 | On Loan: No      |
| APEX GROUP LTD.                                               | APEX GROUP LTD.                                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       163 | NS      | $322712.09    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Denali Midco 2 LLC                                            | Denali Midco 2 LLC 2023 Incremental Delayed Draw Term Loan 3                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    957034 | PA      | $952169.81    | 0.02%             | 2028-12-22      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| Spotless Brands LLC                                           | Spotless Brands LLC Delayed Draw Term Loan E                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  25347176 | PA      | $25467330.26  | 0.55%             | 2028-07-25      | Floating      | 9.83%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-63032.84    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FLYNN RESTAURANT GROUP LP                                     | Flynn Restaurant Group LP 2025 Incremental Term Loan                                          | CUSIP: 34410JAG6<br>LEI: 5493008VE8TQONGO3817 | Long             | LON              | CORP              | US        |   9812276 | PA      | $9821499.95   | 0.21%             | 2032-01-28      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| VGL Midco Limited                                             | VGL Midco Limited GBP PIK Term Loan B2                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  16672909 | PA      | $22423386.56  | 0.49%             | 2026-07-12      | Floating      | 16.72%                | No            |                  3 | On Loan: No      |
| SPEEDSTAR HOLDING CORPORATION                                 | Speedstar Holding Corporation 2024 3rd Amendment Delayed Draw Term Loan                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2617418 | PA      | $2568307.67   | 0.06%             | 2027-07-22      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| ASSOCIATIONS INC                                              | Associations Inc 2024 2nd Amendment Revolver                                                  | CUSIP: 000000000<br>LEI: 5493002YPB5JWSX8PX14 | Long             | LON              | CORP              | US        |   2441350 | PA      | $2441350.27   | 0.05%             | 2028-07-03      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Mercury Financial Credit Card Master Trust                    | Mercury Financial Credit Card Master Trust                                                    | CUSIP: 58940BAY2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14428000 | PA      | $14441276.65  | 0.31%             | 2029-02-20      | Fixed         | 14.80%                | No            |                  3 | On Loan: No      |
| ARES CLO Ltd                                                  | Ares XLIX CLO Ltd                                                                             | CUSIP: 04017KAE8<br>LEI: 549300FI9E5EZIMPA581 | Long             | ABS-CBDO         | CORP              | KY        |   1112500 | PA      | $1134922.44   | 0.02%             | 2036-10-22      | Floating      | 10.83%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $156533.00    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-51479.25    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Regatta 30 Funding Ltd.                                       | Regatta 30 Funding Ltd                                                                        | CUSIP: 75903WAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2560000 | PA      | $2583815.68   | 0.06%             | 2038-01-25      | Floating      | 9.72%                 | No            |                  3 | On Loan: No      |
| Palmer Square European CLO                                    | Palmer Square European CLO 2022-2 DAC                                                         | CUSIP: 000000000<br>LEI: 549300NBMUBW6AHGY771 | Long             | ABS-CBDO         | CORP              | IE        |   5880000 | PA      | $6931128.22   | 0.15%             | 2038-01-15      | Floating      | 7.73%                 | No            |                  3 | On Loan: No      |
| Elmwood CLO 29 Ltd                                            | Elmwood CLO 29 Ltd                                                                            | CUSIP: 289913AN5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3750000 | PA      | $3774056.25   | 0.08%             | 2037-04-20      | Floating      | 8.93%                 | No            |                  3 | On Loan: No      |
| TECTA AMERICA CORP                                            | Tecta America Corp 2025 Term Loan B                                                           | CUSIP: 000000000<br>LEI: 54930083ULRH07WCC129 | Long             | LON              | CORP              | US        |   1995000 | PA      | $2000825.40   | 0.04%             | 2032-02-18      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Brightwood Capital MM CLO Ltd.                                | Brightwood Capital MM CLO 2023-1 Ltd                                                          | CUSIP: 108928AL6<br>LEI: 254900KA4G802DSTDW29 | Long             | ABS-CBDO         | CORP              | JE        |   2900000 | PA      | $2913786.60   | 0.06%             | 2035-10-15      | Floating      | 9.12%                 | No            |                  3 | On Loan: No      |
| 222 North Miami LLC                                           | 222 North Miami LLC B-Note                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  15105350 | PA      | $15407457.13  | 0.33%             | 2026-09-01      | Floating      | 17.56%                | No            |                  3 | On Loan: No      |
| Apex Companies Holdings LLC                                   | Apex Companies Holdings LLC 2024 Delayed Draw Term Loan A                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1210948 | PA      | $1210499.97   | 0.03%             | 2028-01-31      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| Brant Point CLO Ltd                                           | Brant Point Clo 2023-2 Ltd                                                                    | CUSIP: 83607QAJ4<br>LEI: 254900V4ZBN33V3R8W38 | Long             | ABS-CBDO         | CORP              | JE        |   4800000 | PA      | $4860432.00   | 0.11%             | 2037-01-29      | Floating      | 9.86%                 | No            |                  3 | On Loan: No      |
| Athlete Buyer LLC                                             | Athlete Buyer LLC Delayed Draw Term Loan D                                                    | CUSIP: 000000000<br>LEI: 254900IVX89MZM61X059 | Long             | LON              | CORP              | US        |   1483207 | PA      | $1298549.66   | 0.03%             | 2029-04-26      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Eliassen Group LLC                                            | Eliassen Group LLC 2022 Term Loan                                                             | CUSIP: 28656LAQ4<br>LEI: 549300U7CJZAHM5LJ451 | Long             | LON              | CORP              | US        |  19811184 | PA      | $19273243.97  | 0.42%             | 2028-04-14      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| LDS INTERMEDIATE HOLDINGS LLC                                 | LDS Intermediate Holdings LLC PIK Term Loan                                                   | CUSIP: 50205XAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  27907895 | PA      | $27825138.61  | 0.60%             | 2032-02-09      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-39507.44    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Javelin Buyer Inc                                             | Javelin Buyer Inc 2025 Term Loan                                                              | CUSIP: 47189BAF6<br>LEI: 254900GL30A9G6Z7OW50 | Long             | LON              | CORP              | US        |   9975000 | PA      | $9960436.50   | 0.22%             | 2031-12-05      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED GBP / SOLD USD                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | GB        |         1 | NC      | $310.24       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AMPERSAND PART AIV INVESTORS                                  | AMPERSAND PART AIV INVESTORS                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     14121 | NS      | $141210.00    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| UKG Inc                                                       | UKG Inc 2024 Term Loan B                                                                      | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   9900000 | PA      | $9887229.00   | 0.21%             | 2031-02-10      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| ARTIFACT BIDCO INC                                            | Artifact Bidco Inc Term Loan                                                                  | CUSIP: 000000000<br>LEI: 213800OR4G59WMDKCC08 | Long             | LON              | CORP              | US        |  17610837 | PA      | $17698891.63  | 0.38%             | 2031-07-28      | Floating      | 8.25%                 | No            |                  3 | On Loan: No      |
| PAM BIDCO LIMITED                                             | PAM Bidco Limited GBP Delayed Draw Term Loan B3                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |    480720 | PA      | $640054.47    | 0.01%             | 2031-10-15      | Fixed         | 10.75%                | No            |                  3 | On Loan: No      |
| AqGen Island Holdings Inc                                     | AqGen Island Holdings Inc 2024 Term Loan B                                                    | CUSIP: 03836BAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4895609 | PA      | $4888265.32   | 0.11%             | 2028-08-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Proofpoint, Inc.                                              | Proofpoint Inc 2024 Term Loan                                                                 | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |  13231622 | PA      | $13266156.94  | 0.29%             | 2028-08-31      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Chartis Group, LLC (The)                                      | Chartis Group LLC (The) 2024 Revolver                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4780030 | PA      | $4821965.46   | 0.10%             | 2031-09-17      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| HS Spa Holdings Inc                                           | HS Spa Holdings Inc Term Loan                                                                 | CUSIP: 000000000<br>LEI: 743700UEY0YM039XN974 | Long             | LON              | CORP              | US        |   8367188 | PA      | $8318155.79   | 0.18%             | 2029-06-01      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| Rackspace Finance, LLC                                        | Rackspace Finance, LLC 2024 First Lien Second Out Term Loan                                   | CUSIP: 75008UAD9<br>LEI: 549300QTYCKLMFSE8I97 | Long             | LON              | CORP              | US        |  15983800 | PA      | $7092811.37   | 0.15%             | 2028-05-15      | Floating      | 7.04%                 | No            |                  3 | On Loan: No      |
| Benefit Street Partners CLO Ltd                               | Benefit Street Partners CLO XXXVIII Ltd                                                       | CUSIP: 08183GAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4454335.00   | 0.10%             | 2038-01-25      | Variable      | 8.33%                 | No            |                  3 | On Loan: No      |
| AI Grace AUS Bidco PTY LTD                                    | AI Grace AUS Bidco PTY LTD 2024 USD Term Loan B                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AU        |  18285714 | PA      | $18159750.40  | 0.39%             | 2029-12-17      | Floating      | 9.40%                 | No            |                  3 | On Loan: No      |
| National Mentor Holdings Inc                                  | National Mentor Holdings Inc 2021 2nd Lien Term Loan                                          | CUSIP: 63689EAW5<br>LEI: 5493004QULJVJP3CNZ62 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1976660.00   | 0.04%             | 2029-03-02      | Floating      | 11.35%                | No            |                  3 | On Loan: No      |
| TUFIN SOFTWARE NA INC.                                        | TUFIN SOFTWARE NA INC.                                                                        | CUSIP: 000000000<br>LEI: 213800TA91NSSCXPWB89 | Long             | EC               | CORP              | US        |    678938 | NS      | $1299524.67   | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $24202.17     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eyesouth Eye Care HoldCo LLC                                  | Eyesouth Eye Care HoldCo LLC 2022 Delayed Draw Term Loan                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     38586 | PA      | $38586.22     | 0.00%             | 2029-10-05      | Floating      | 9.76%                 | No            |                  3 | On Loan: No      |
| LSF12 Crown US Commercial Bidco LLC                           | LSF12 Crown US Commercial Bidco LLC 2025 Term Loan B                                          | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |   5000000 | PA      | $5003150.00   | 0.11%             | 2031-12-02      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                      | Madison Park Funding LV Ltd                                                                   | CUSIP: 55818AAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5500000 | PA      | $5479067.00   | 0.12%             | 2037-07-18      | Floating      | 10.33%                | No            |                  3 | On Loan: No      |
| ASSOCIATIONS INC                                              | Associations Inc 2024 Special Purpose Delayed Draw Term Loan                                  | CUSIP: 000000000<br>LEI: 5493002YPB5JWSX8PX14 | Long             | LON              | CORP              | US        |   3038226 | PA      | $3053416.91   | 0.07%             | 2028-07-03      | Floating      | 11.08%                | No            |                  3 | On Loan: No      |
| INTEGRITY MARKETING GROUP, LLC                                | INTEGRITY MARKETING GROUP, LLC                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |  11091680 | NS      | $10840986.18  | 0.23%             |  |  |  | No            |                  3 | On Loan: No      |
| Hadrian Acquisition Limited                                   | Hadrian Acquisition Limited Holdco Add On Term Loan B                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  20569848 | PA      | $27802700.06  | 0.60%             | 2029-02-28      | Floating      | 8.97%                 | No            |                  3 | On Loan: No      |
| Dwyer Instruments Inc                                         | Dwyer Instruments Inc Delayed Draw Term Loan                                                  | CUSIP: 26745LAD0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    970814 | PA      | $970813.69    | 0.02%             | 2029-07-20      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Onepoint                                                      | Onepoint EUR Tranche 2 Delyed Draw Term Loan                                                  | CUSIP: 000000000<br>LEI: 8945007TRUIQ6OBZWV08 | Long             | LON              | CORP              | FR        |   7628945 | PA      | $8889592.46   | 0.19%             | 2031-11-03      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| Rome Bidco Limited                                            | Rome Bidco Limited GBP Capex Facility                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   5512881 | PA      | $7673770.10   | 0.17%             | 2027-12-23      | Floating      | 11.72%                | No            |                  3 | On Loan: No      |
| Rockford Tower CLO Ltd                                        | Rockford Tower CLO 2023-1 Ltd                                                                 | CUSIP: 77341RAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4300000 | PA      | $4300000.00   | 0.09%             | 2036-01-20      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| Hadrian Acquisition Limited                                   | Hadrian Acquisition Limited 2024 GBP Delayed Draw Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  12202305 | PA      | $16492927.90  | 0.36%             | 2029-02-28      | Floating      | 8.97%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-1701.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PAM BIDCO LIMITED                                             | PAM Bidco Limited GBP Delayed Draw Term Loan B4                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   1645896 | PA      | $2185895.22   | 0.05%             | 2031-10-15      | Floating      | 11.76%                | No            |                  3 | On Loan: No      |
| Coupa HoldingsLLC                                             | Coupa HoldingsLLC Revolver                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    442913 | PA      | $442913.38    | 0.01%             | 2029-02-27      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Anticimex International AB                                    | Anticimex International AB 2024 Term Loan B6                                                  | CUSIP: 03703HAB2<br>LEI: 54930005SBU6WYFBEB41 | Long             | LON              | CORP              | SE        |    610372 | PA      | $611288.04    | 0.01%             | 2028-11-16      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-33097.92    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| L Catterton Direct Lending Fund Rated Feeder, L.P.            | L Catterton Direct Lending Fund Rated Feeder LP Class B Delayed Draw Term Loan                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10079173 | PA      | $10018399.32  | 0.22%             | 2038-01-15      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $5064.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Park County LLC                                               | Park County LLC 2023 Term Loan                                                                | CUSIP: 000000000<br>LEI: 2549003DV7N3PJV9HK67 | Long             | LON              | CORP              | US        |  57160596 | PA      | $57160596.08  | 1.24%             | 2029-11-29      | Floating      | 10.91%                | No            |                  3 | On Loan: No      |
| Palmer Square CLO Ltd                                         | Palmer Square CLO 2023-3 Ltd                                                                  | CUSIP: 696927AA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3552664.50   | 0.08%             | 2037-01-20      | Floating      | 12.16%                | No            |                  3 | On Loan: No      |
| Apidos CLO Ltd                                                | Apidos CLO XXXIII                                                                             | CUSIP: 03768NAB1<br>LEI: 549300DDYHDQJDDDWB27 | Long             | ABS-CBDO         | CORP              | KY        |  21960000 | PA      | $11030771.52  | 0.24%             | 2034-10-24      | Variable      | 2.22%                 | No            |                  3 | On Loan: No      |
| Oak Purchaser Inc                                             | Oak Purchaser Inc Delayed Draw Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2444809 | PA      | $2437611.90   | 0.05%             | 2028-05-31      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| North Haven Fairway Buyer LLC                                 | North Haven Fairway Buyer LLC Delayed Draw Term Loan C1                                       | CUSIP: 000000000<br>LEI: 254900NRNT87TWAL0H92 | Long             | LON              | CORP              | US        |     94798 | PA      | $94048.78     | 0.00%             | 2028-05-17      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| THE VERY GROUP LIMITED                                        | The Very Group Limited 2025 GBP Term Loan B                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   3917852 | PA      | $5229598.02   | 0.11%             | 2032-03-13      | Fixed         | 13.50%                | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2025 DDTL - 3/20 Borrowing                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    647216 | PA      | $639125.71    | 0.01%             | 2032-03-20      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| CP Developer SARL                                             | CP Developer SA RL EUR PIK Holdco Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |  13496490 | PA      | $15687107.03  | 0.34%             | 2026-05-21      | Floating      | 10.03%                | No            |                  3 | On Loan: No      |
| DCA Investment Holdings LLC                                   | DCA Investment Holdings LLC 2021 Term Loan                                                    | CUSIP: 000000000<br>LEI: 2549008I5FPT6I8CFZ85 | Long             | LON              | CORP              | US        |   3159818 | PA      | $2985319.16   | 0.06%             | 2028-04-03      | Floating      | 10.41%                | No            |                  3 | On Loan: No      |
| MADISON IAQ LLC                                               | Madison IAQ LLC 2025 Term Loan B                                                              | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |   3117188 | PA      | $3130123.83   | 0.07%             | 2032-05-06      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $854.23       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                                     | Bausch & Lomb Corporation 2023 Incremental Term Loan                                          | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |   4900000 | PA      | $4893875.00   | 0.11%             | 2028-09-29      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| PAM BIDCO LIMITED                                             | PAM Bidco Limited GBP Capex Acquisition Facility A                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   2884318 | PA      | $3840326.84   | 0.08%             | 2031-10-15      | Fixed         | 10.75%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-13796.31    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BEDFORD BEVERLY B LLC                                         | Bedford Beverly B LLC Land Loan                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9719189 | PA      | $9719188.60   | 0.21%             | 2026-09-02      | Floating      | 12.13%                | No            |                  3 | On Loan: No      |
| CIFC European Funding CLO                                     | CIFC European Funding CLO IV DAC                                                              | CUSIP: 000000000<br>LEI: 6354004PQUAJERUBIO61 | Long             | ABS-CBDO         | CORP              | IE        |   2845000 | PA      | $3371154.26   | 0.07%             | 2035-08-18      | Floating      | 7.99%                 | Yes           |                  3 | On Loan: No      |
| Elmwood CLO II Ltd.                                           | Elmwood CLO II Ltd                                                                            | CUSIP: 29001RAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6500000 | PA      | $6508105.50   | 0.14%             | 2037-10-20      | Floating      | 10.08%                | No            |                  3 | On Loan: No      |
| STIF                                                          | STIF                                                                                          | CUSIP: 000000000<br>LEI: 969500KA7T1IZD9A0O02 | Long             | STIV             | RF                | US        | 279345212 | NS      | $279345211.93 | 6.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Jordanes Equity AS                                            | Jordanes Equity AS NOK PIK Term Loan A                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        | 291278474 | PA      | $27655190.26  | 0.60%             | 2031-11-18      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4783.11     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ORTHRUS LIMITED                                               | Orthrus Limited 2025 Acquisition Capex Facility                                               | CUSIP: 000000000<br>LEI: 254900HRIQNQKM97Y369 | Long             | LON              | CORP              | JE        |   2811460 | PA      | $2783345.05   | 0.06%             | 2031-12-05      | Floating      | 10.57%                | No            |                  3 | On Loan: No      |
| Regatta XXIII Funding Ltd                                     | Regatta XXIII Funding Ltd                                                                     | CUSIP: 75889GAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5018820.00   | 0.11%             | 2035-01-20      | Floating      | 11.29%                | No            |                  3 | On Loan: No      |
| 48Forty Solutions LLC                                         | 48Forty Solutions LLC 2022 Term Loan                                                          | CUSIP: 02082AAP9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  21119659 | PA      | $10386183.68  | 0.22%             | 2029-11-30      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| ROTATION BUYER LLC                                            | Rotation Buyer LLC Term Loan                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8745050 | PA      | $8674619.77   | 0.19%             | 2031-12-26      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $1230.74      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Talon MidCo 2 Limited                                         | Talon MidCo 2 Limited 2023 1st  Amendment Incremental Term Loan                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   8599663 | PA      | $8591317.58   | 0.19%             | 2028-08-28      | Floating      | 9.44%                 | No            |                  3 | On Loan: No      |
| 520 Mezz Owner 2 LLC                                          | 520 Mezz Owner 2 LLC Mezzanine Term Loan                                                      | CUSIP: 000000000<br>LEI: 2549002NSV3ZDOPE4380 | Long             | LON              | CORP              | US        |  26756616 | PA      | $26890398.79  | 0.58%             | 2026-03-02      | Floating      | 16.99%                | No            |                  3 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC 2024 Delayed Draw Term Loan G                                       | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |   3782322 | PA      | $3782322.48   | 0.08%             | 2028-08-05      | Floating      | 9.58%                 | No            |                  3 | On Loan: No      |
| Bluemountain CLO Ltd                                          | BlueMountain CLO XXXIII Ltd                                                                   | CUSIP: 09631AAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5900000 | PA      | $2363498.70   | 0.05%             | 2038-10-20      | Variable      | 6.03%                 | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2025 DDTL - 4/25 Borrowing                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    935993 | PA      | $924293.02    | 0.02%             | 2032-04-23      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| COTIVITI CORPORATION                                          | Cotiviti Corporation 2024 Term Loan                                                           | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |   4930188 | PA      | $4837746.57   | 0.10%             | 2031-05-01      | Floating      | 7.03%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $41.13        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ESPRESSO BIDCO INC                                            | Espresso Bidco Inc Term Loan                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  23571243 | PA      | $23449179.69  | 0.51%             | 2032-03-25      | Floating      | 6.63%                 | No            |                  3 | On Loan: No      |
| IG INVESTMENT HOLDINGS LLC                                    | IG Investment Holdings LLC 2024 Refinancing Term Loan                                         | CUSIP: 000000000<br>LEI: 549300E2BEZMEPIYGU19 | Long             | LON              | CORP              | US        |   4085856 | PA      | $4074592.62   | 0.09%             | 2028-09-22      | Floating      | 9.31%                 | No            |                  3 | On Loan: No      |
| Coupa HoldingsLLC                                             | Coupa HoldingsLLC Term Loan                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6397654 | PA      | $6429642.22   | 0.14%             | 2030-02-27      | Floating      | 9.56%                 | No            |                  3 | On Loan: No      |
| RIALTO MANAGEMENT GROUP LLC                                   | Rialto Management Group LLC 2024 Revolver                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    541401 | PA      | $541401.27    | 0.01%             | 2030-12-05      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| L Catterton Direct Lending Fund Rated Feeder, L.P.            | L Catterton Direct Lending Fund Rated Feeder LP Class A Delayed Draw Term Loan                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  18405446 | PA      | $18340143.48  | 0.40%             | 2038-01-15      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| ION TRADING TECHNOLOGIES SARL                                 | ION Trading Technologies Sarl 2024 Term Loan B                                                | CUSIP: 000000000<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | LON              | CORP              | LU        |   8560733 | PA      | $8555424.99   | 0.19%             | 2028-04-01      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                                         | Sixth Street CLO XXV Ltd                                                                      | CUSIP: 83011WAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $10780455.00  | 0.23%             | 2124-07-24      | Variable      | 4.84%                 | No            |                  3 | On Loan: No      |
| SEAHAWK BIDCO LLC                                             | Seahawk Bidco LLC Delayed Draw Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11632781 | PA      | $11648313.81  | 0.25%             | 2031-12-19      | Floating      | 9.08%                 | No            |                  3 | On Loan: No      |
| Advanced Web Technologies Holding Company                     | Advanced Web Technologies Holding Company 2024 4th Amendment Delayed Draw Term Loan           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1714159 | PA      | $1712108.15   | 0.04%             | 2027-12-17      | Floating      | 7.84%                 | No            |                  3 | On Loan: No      |
| Voya CLO Ltd                                                  | Voya CLO 2024-2 Ltd                                                                           | CUSIP: 92920JAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10650000 | PA      | $8074712.85   | 0.17%             | 2037-07-20      | Variable      | 4.15%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-3167.24     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-211.40      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-40568.11    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                              | Deutsche Bank AG                                                                              | CUSIP: 953AVJII2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | DE        |   2000000 | PA      | $2085000.00   | 0.05%             | 2032-11-28      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| KRE HYOD JV LLC                                               | KRE HYOD JV LLC                                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    124276 | NS      | $115576.91    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-32886.29    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Heartland Home Services                                       | Heartland Home Services Delayed Draw Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8432377 | PA      | $8188527.61   | 0.18%             | 2026-12-15      | Floating      | 10.10%                | No            |                  3 | On Loan: No      |
| ESPRESSO BIDCO INC                                            | Espresso Bidco Inc Revolver                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2854060 | PA      | $2839280.04   | 0.06%             | 2032-03-25      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC Revolver                                                            | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |   3741950 | PA      | $3741950.50   | 0.08%             | 2028-08-05      | Floating      | 12.00%                | No            |                  3 | On Loan: No      |
| Arini European CLO                                            | Arini European CLO V DAC                                                                      | CUSIP: 000000000<br>LEI: 635400HVHHJPCXB66K47 | Long             | ABS-CBDO         | CORP              | IE        |   1900000 | PA      | $2207744.63   | 0.05%             | 2039-01-15      | Floating      | 7.07%                 | Yes           |                  3 | On Loan: No      |
| Tiger Acquisition LLC                                         | Tiger Acquisition LLC 2025 Term Loan B                                                        | CUSIP: 88675UAE2<br>LEI: 25490011XE2GWJKY5N51 | Long             | LON              | CORP              | US        |   4189965 | PA      | $4172366.80   | 0.09%             | 2032-08-23      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| GS AcquisitionCo Inc                                          | GS AcquisitionCo Inc 2024 7th Supplemental Delayed Draw Term Loan                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    468892 | PA      | $468892.05    | 0.01%             | 2028-05-25      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Sixth Street CLO LTD.                                         | Sixth Street CLO XXIII Ltd                                                                    | CUSIP: 829930AA4<br>LEI: 2549009LM706L5P4IH84 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4025312.00   | 0.09%             | 2036-10-23      | Floating      | 11.37%                | No            |                  3 | On Loan: No      |
| Cornerstone Building Brands Inc                               | Cornerstone Building Brands Inc 2022 Term Loan                                                | CUSIP: 21925FAA2<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |   9458880 | PA      | $9064728.70   | 0.20%             | 2028-08-01      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| Kestra Advisor Services Holdings A, Inc.                      | Kestra Advisor Services Holdings A Inc 2024 Repriced Term Loan                                | CUSIP: 000000000<br>LEI: 254900WH55RU999OY504 | Long             | LON              | CORP              | US        |   2475871 | PA      | $2476440.20   | 0.05%             | 2031-03-22      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| 720 East CLO Ltd.                                             | 720 East CLO IV Ltd                                                                           | CUSIP: 81785DAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1009993.00   | 0.02%             | 2037-04-15      | Floating      | 10.82%                | No            |                  3 | On Loan: No      |
| Primetech Holdco Sarl                                         | PRIMETECH HOLDCO S.A.R.L.                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  32443855 | PA      | $39423905.26  | 0.85%             | 2029-07-28      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| Ascend Buyer, LLC                                             | Ascend Buyer LLC 2021 Revolver                                                                | CUSIP: 000000000<br>LEI: 25490017H0M91THI5T92 | Long             | LON              | CORP              | US        |   1711687 | PA      | $1706675.30   | 0.04%             | 2028-09-29      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Apex Companies Holdings LLC                                   | Apex Companies Holdings LLC Term Loan                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3178606 | PA      | $3177429.10   | 0.07%             | 2028-01-31      | Floating      | 9.56%                 | No            |                  3 | On Loan: No      |
| APPLIED TECHNICAL SERVICES LLC                                | Applied Technical Services LLC 2025 Delayed Draw Term Loan B                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1260029 | PA      | $1252942.54   | 0.03%             | 2031-04-08      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Engineered Machinery Holdings Inc                             | Engineered Machinery Holdings Inc 2021 USD Incremental Term Loan                              | CUSIP: 26658NAP4<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |   1925000 | PA      | $1933932.00   | 0.04%             | 2028-05-19      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDINGS LLC                                | Raven Acquisition Holdings LLC Term Loan B                                                    | CUSIP: 75419XAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7738580 | PA      | $7733781.74   | 0.17%             | 2031-11-19      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-3264.62     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Apex Structured Holdings Ltd.                                 | Apex Structured Holdings Ltd USD PIK Fixed Term Loan A15                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | BM        |  19519766 | PA      | $19470966.58  | 0.42%             | 2054-07-19      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| MONARCH BUYER INC                                             | Monarch Buyer Inc Revolver                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3246136 | PA      | $3213331.55   | 0.07%             | 2032-06-02      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| SEAHAWK BIDCO LLC                                             | Seahawk Bidco LLC Revovler                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3499006 | PA      | $3499005.98   | 0.08%             | 2030-12-19      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Boxer Parent Company Inc                                      | Boxer Parent Company Inc 2025 USD Term Loan B                                                 | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |   4975000 | PA      | $4964104.75   | 0.11%             | 2031-07-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| BCPE Pequod Buyer Inc                                         | BCPE Pequod Buyer Inc USD Term Loan B                                                         | CUSIP: 05624AAB8<br>LEI: 254900HEEOS2IWC84V94 | Long             | LON              | CORP              | US        |   7231875 | PA      | $7240914.84   | 0.16%             | 2031-11-25      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Octagon 58 Ltd                                                | Octagon 58 Ltd                                                                                | CUSIP: 675929AE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   9500000 | PA      | $9696745.00   | 0.21%             | 2038-04-15      | Floating      | 10.57%                | No            |                  3 | On Loan: No      |
| IQN Holding Corp                                              | IQN Holding Corp 2022 Revolver                                                                | CUSIP: 000000000<br>LEI: 549300MBFE58LQAJEO51 | Long             | LON              | CORP              | US        |    488923 | PA      | $485157.86    | 0.01%             | 2028-05-02      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| HS Purchaser, LLC                                             | HS Purchaser LLC 2021 Term Loan                                                               | CUSIP: 42351EAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7937008 | PA      | $7473724.71   | 0.16%             | 2026-11-19      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| SITUSAMC HOLDINGS CORPORATION                                 | SitusAMC Holdings Corporation 2025 Incremental Term Loan                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  20769231 | PA      | $20624605.28  | 0.45%             | 2031-05-14      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| Abry Liquid Credit CLO Ltd                                    | Abry Liquid Credit CLO 2025-1 Ltd                                                             | CUSIP: 00383TAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3000000.00   | 0.06%             | 2038-10-20      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs & Co. LLC                                       | Long: GS IRS6   IRS USD R F  6.11000 / Short: GS IRS6   IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DIR              |  | US        | 100000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Align Precision Group, LLC                                    | Align Precision Group LLC 2025 Delayed Draw Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1183378 | PA      | $1183378.41   | 0.03%             | 2030-07-03      | Floating      | 10.75%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-1256206.06  | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Medical Manufacturing Technologies, LLC                       | Medical Manufacturing Technologies LLC 2025 2nd Amendment Delayed Draw Term Loan              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1416391 | PA      | $1416157.98   | 0.03%             | 2027-12-23      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| Jeg's Automotive LLC                                          | Jeg's Automotive LLC Term Loan                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6632615 | PA      | $6632614.54   | 0.14%             | 2029-12-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| MINERVA BIDCO LIMITED                                         | Minerva Bidco Limited 2023 GBP PIK Delayed Draw Term Loan                                     | CUSIP: 000000000<br>LEI: 213800XWA3V4T3U4T312 | Long             | LON              | CORP              | GB        |   4184830 | PA      | $5501541.74   | 0.12%             | 2030-11-07      | Floating      | 9.22%                 | No            |                  3 | On Loan: No      |
| ROTATION BUYER LLC                                            | Rotation Buyer LLC Revolver                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1126794 | PA      | $1117719.35   | 0.02%             | 2031-12-26      | Floating      | 9.07%                 | No            |                  3 | On Loan: No      |
| NEARU HOLDINGS LLC                                            | NEARU HOLDINGS LLC                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9881 | NS      | $224550.96    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| North Haven Fairway Buyer LLC                                 | North Haven Fairway Buyer LLC Revolver                                                        | CUSIP: 000000000<br>LEI: 254900NRNT87TWAL0H92 | Long             | LON              | CORP              | US        |   2518846 | PA      | $2498945.25   | 0.05%             | 2028-05-17      | Floating      | 9.30%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-20606.70    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GS AcquisitionCo Inc                                          | GS AcquisitionCo Inc Revolver                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    652937 | PA      | $652937.23    | 0.01%             | 2028-05-25      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| COBHAM ULTRA SUNCO S.A.R.L.                                   | COBHAM ULTRA SUNCO S.A.R.L.                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9302685 | PA      | $9302684.78   | 0.20%             | 2030-08-04      | Variable      | 11.60%                | No            |                  3 | On Loan: No      |
| HERCULES BORROWER LLC                                         | Hercules Borrower LLC 2025 8th Amendment Incremental Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8287150 | PA      | $8287150.32   | 0.18%             | 2028-12-15      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $52.65        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $145.92       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Athlete Buyer LLC                                             | Athlete Buyer LLC 2024 3rd Amendment Delayed Draw Term Loan A                                 | CUSIP: 000000000<br>LEI: 254900IVX89MZM61X059 | Long             | LON              | CORP              | US        |   4388614 | PA      | $3842236.89   | 0.08%             | 2029-04-26      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Excel Fitness Holdings Inc                                    | Excel Fitness Holdings Inc 2022 Revolver                                                      | CUSIP: 30065EAP3<br>LEI: 549300C2NQL773WZ9F32 | Long             | LON              | CORP              | US        |    890625 | PA      | $890625.00    | 0.02%             | 2028-04-28      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4315.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED GBP / SOLD USD                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | GB        |         1 | NC      | $472.88       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-39525.71    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PXO Holdings III Corp                                         | PXO Holdings III Corp 2022 Delayed Draw Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2323108 | PA      | $2283784.04   | 0.05%             | 2028-03-08      | Floating      | 9.96%                 | No            |                  3 | On Loan: No      |
| Hunter Holdco 3 Limited                                       | Hunter Holdco 3 Limited USD Term Loan B                                                       | CUSIP: 12509YAE6<br>LEI: 549300KXGY77REE4ZR63 | Long             | LON              | CORP              | US        |   1565242 | PA      | $1553503.18   | 0.03%             | 2028-08-19      | Floating      | 8.35%                 | No            |                  3 | On Loan: No      |
| Advanced Web Technologies Holding Company                     | Advanced Web Technologies Holding Company Delayed Draw Term Loan                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1447122 | PA      | $1445390.58   | 0.03%             | 2027-12-17      | Floating      | 7.84%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-34452.99    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-40957.41    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Denali Midco 2 LLC                                            | Denali Midco 2 LLC 2023 Incremental Delayed Draw Term Loan 4                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1131637 | PA      | $1125886.06   | 0.02%             | 2028-12-22      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| Trinitas Euro CLO                                             | Trinitas Euro CLO V DAC                                                                       | CUSIP: 000000000<br>LEI: 635400DBDKTTFX5N9Q18 | Long             | ABS-CBDO         | CORP              | IE        |   2500000 | PA      | $2944475.03   | 0.06%             | 2039-07-25      | Floating      | 7.80%                 | No            |                  3 | On Loan: No      |
| PRIMETECH HOLDCO S.A.R.L.                                     | PRIMETECH HOLDCO S.A.R.L.                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       330 | NS      | $2210663.68   | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| GYMSPA S.A.S                                                  | GYMSPA SAS 2025 EUR PIK Refinancing Term Loan                                                 | CUSIP: 000000000<br>LEI: 894500AJE4NGWVJGR317 | Long             | LON              | CORP              | FR        |  19839439 | PA      | $22826656.29  | 0.49%             | 2031-05-14      | Floating      | 8.03%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | Long: GS IRS1 F IRS USD R F  6.55000 / Short: GS IRS1 F IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DIR              |  | US        |  50000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $77.79        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DG Investment Intermediate Holdings 2, Inc.                   | DG Investment Intermediate Holdings 2 Inc 2025 Term Loan                                      | CUSIP: 23344MAM0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5690206 | PA      | $5697318.98   | 0.12%             | 2032-07-09      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| Acrisure, LLC                                                 | Acrisure LLC 2024 1st Lien Term Loan B6                                                       | CUSIP: 00488PAV7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |   8167655 | PA      | $8144703.57   | 0.18%             | 2030-11-06      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| ASCEND BUYER LLC                                              | Ascend Buyer LLC 2025 4th Amendment Revolver                                                  | CUSIP: 000000000<br>LEI: 25490017H0M91THI5T92 | Long             | LON              | CORP              | US        |    736376 | PA      | $734220.34    | 0.02%             | 2028-09-29      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| MidOcean Credit CLO                                           | MidOcean Credit CLO XIII Ltd                                                                  | CUSIP: 59803DAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   3850000 | PA      | $3886605.80   | 0.08%             | 2037-01-21      | Floating      | 9.42%                 | No            |                  3 | On Loan: No      |
| North Haven Fairway Buyer LLC                                 | North Haven Fairway Buyer LLC Delayed Draw Term Loan C2                                       | CUSIP: 000000000<br>LEI: 254900NRNT87TWAL0H92 | Long             | LON              | CORP              | US        |  10991074 | PA      | $10904235.79  | 0.24%             | 2029-11-29      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| Azurite Intermediate Holdings Inc                             | Azurite Intermediate Holdings Inc Revolver                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2384937 | PA      | $2384937.24   | 0.05%             | 2031-03-19      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| ZELIS PAYMENTS BUYER INC                                      | Zelis Payments Buyer Inc 5th Amendment Term Loan                                              | CUSIP: 98932TAH6<br>LEI: 549300U8NGLZN5R1Y309 | Long             | LON              | CORP              | US        |   9950000 | PA      | $9945025.00   | 0.22%             | 2031-11-26      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $1159.60      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Diligent Corporation                                          | Diligent Corporation 2024 Delayed Draw Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5159629 | PA      | $5185426.89   | 0.11%             | 2030-08-02      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital Securities Ltd.                             | Long: MACQUARIE IRS USD R F  2.79400 / Short: MACQUARIE IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |  75000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HOLDING ARGON                                                 | Holding Argon EUR Initial Bonds                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |  27798837 | PA      | $31821312.48  | 0.69%             | 2032-04-16      | Floating      | 7.96%                 | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2025 DDTL - 8/26 Borrowing                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    191092 | PA      | $188703.41    | 0.00%             | 2032-08-26      | Floating      | 10.22%                | No            |                  3 | On Loan: No      |
| ASTRA ACQUISITION CORP                                        | Astra Acquisition Corp 2024 Term Loan B                                                       | CUSIP: 04629UAR7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  20067992 | PA      | $50169.98     | 0.00%             | 2028-10-25      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Denali Midco 2 LLC                                            | Denali Midco 2 LLC 2022 Incremental Delayed Draw Term Loan 2                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    280766 | PA      | $279339.18    | 0.01%             | 2028-12-22      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| CSS HIL 2024 1 TRUST                                          | CSS HIL 2024 1 TRUST                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2804000 | PA      | $2883916.97   | 0.06%             | 2050-04-20      | Fixed         | 7.75%                 | No            |                  3 | On Loan: No      |
| PPV INTERMEDIATE HOLDINGS LLC                                 | PPV Intermediate Holdings LLC 2024 2nd Amendment Delayed Draw Term Loan                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13017764 | PA      | $13017763.99  | 0.28%             | 2029-08-31      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| YLG HOLDINGS INC                                              | YLG Holdings Inc 2024 Term Loan                                                               | CUSIP: 98423EAQ5<br>LEI: 549300V0YEK0QFC12V52 | Long             | LON              | CORP              | US        |    515604 | PA      | $517983.86    | 0.01%             | 2030-12-23      | Floating      | 9.04%                 | No            |                  3 | On Loan: No      |
| Generate CLO Ltd.                                             | Generate CLO 5 Ltd                                                                            | CUSIP: 37148XAL6<br>LEI: 635400TYXCFIHMPETY18 | Long             | ABS-CBDO         | CORP              | KY        |   6750000 | PA      | $6831546.75   | 0.15%             | 2037-07-22      | Floating      | 9.43%                 | No            |                  3 | On Loan: No      |
| DENALI MIDCO 2 LLC                                            | Denali Midco 2 LLC 2024 2nd Lien Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4171521 | PA      | $4103726.33   | 0.09%             | 2028-12-22      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| Portugal Street East Limited                                  | Portugal Street East Limited GBP Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  23890394 | PA      | $32130178.39  | 0.70%             | 2026-12-18      | Fixed         | 11.50%                | No            |                  3 | On Loan: No      |
| AuditBoard, Inc.                                              | AuditBoard Inc Delayed Draw Term Loan                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7142857 | PA      | $7109253.00   | 0.15%             | 2031-07-14      | Fixed         | 0.75%                 | No            |                  3 | On Loan: No      |
| Enverus Holdings Inc                                          | Enverus Holdings Inc Term Loan                                                                | CUSIP: 000000000<br>LEI: 2549001WLQIUWC659V64 | Long             | LON              | CORP              | US        |  20008930 | PA      | $19958907.59  | 0.43%             | 2029-12-24      | Floating      | 9.66%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-748612.07   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| FINASTRA USA INC                                              | FINASTRA USA INC 2025 1st LIEN TERM LOAN                                                      | CUSIP: 31772YAD8<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |  25000000 | PA      | $24884000.00  | 0.54%             | 2032-09-15      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4703.44     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Regatta 35 Funding Ltd.                                       | Regatta 35 Funding Ltd                                                                        | CUSIP: 75904EAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4570000 | PA      | $4568587.87   | 0.10%             | 2038-10-15      | Floating      | 9.53%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $117161.07    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Very Group Limited                                        | The Very Group Limited Fixed GBP Term Loan A                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   4684004 | PA      | $6252268.72   | 0.14%             | 2026-02-26      | Fixed         | 13.50%                | No            |                  3 | On Loan: No      |
| Howden Group Holdings Ltd                                     | Howden Group Holdings Ltd 2024 USD Term Loan B                                                | CUSIP: 000000000<br>LEI: 875500V3HPKZIQP10J32 | Long             | LON              | CORP              | GB        |   4914382 | PA      | $4909762.51   | 0.11%             | 2030-04-18      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                                         | Sixth Street CLO XVII Ltd                                                                     | CUSIP: 83012GAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3013449.00   | 0.07%             | 2038-04-17      | Floating      | 9.07%                 | No            |                  3 | On Loan: No      |
| WineshippingCom LLC                                           | WineshippingCom LLC Term Loan                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14707692 | PA      | $10909877.23  | 0.24%             | 2027-10-29      | Floating      | 10.40%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-164869.64   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                                 | Ballyrock CLO 28 Ltd                                                                          | CUSIP: 05876JAC2<br>LEI: 2549006FL37LMQQU3H44 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $3768110.00   | 0.08%             | 2038-01-20      | Variable      | 7.52%                 | No            |                  3 | On Loan: No      |
| FPG CLASS A1 EQUITY                                           | FPG CLASS A1 EQUITY                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |        76 | NS      | $5658.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| FULLSTEAM OPERATIONS LLC                                      | Fullsteam Operations LLC 2025 Delayed Draw Term Loan                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2721335 | PA      | $2694121.92   | 0.06%             | 2031-08-08      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| GYMSPA S.A.S                                                  | GYMSPA SAS 2025 EUR PIK Acquisition                                                           | CUSIP: 000000000<br>LEI: 894500AJE4NGWVJGR317 | Long             | LON              | CORP              | FR        |   3691058 | PA      | $4246819.79   | 0.09%             | 2031-05-14      | Floating      | 8.03%                 | No            |                  3 | On Loan: No      |
| Voya Euro CLO                                                 | Voya Euro CLO VI DAC                                                                          | CUSIP: 000000000<br>LEI: 635400GJFWXF9VK47K80 | Long             | ABS-CBDO         | CORP              | IE        |   2500000 | PA      | $2954099.32   | 0.06%             | 2038-04-15      | Floating      | 8.82%                 | No            |                  3 | On Loan: No      |
| BCPE EMPIRE HOLDINGS INC                                      | BCPE Empire Holdings Inc 2025 Term Loan B                                                     | CUSIP: 05550HAQ8<br>LEI: 549300O2G0VI2955B626 | Long             | LON              | CORP              | US        |   1481306 | PA      | $1478299.20   | 0.03%             | 2030-12-11      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| ADPD Holdings LLC                                             | ADPD Holdings LLC Revolver                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    887574 | PA      | $811082.89    | 0.02%             | 2028-08-16      | Floating      | 10.52%                | No            |                  3 | On Loan: No      |
| Macquarie Capital Securities Ltd.                             | Long: MACQ IRS3 IRS USD R F  3.55200 / Short: MACQ IRS3 IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |  75000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OPTIMIZELY NORTH AMERICA INC                                  | Optimizely North America Inc GBP Unitranche Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    904545 | PA      | $1216743.98   | 0.03%             | 2031-10-30      | Floating      | 9.47%                 | No            |                  3 | On Loan: No      |
| Tank Holding Corp                                             | Tank Holding Corp 2023 Incremental Delayed Draw Term Loan                                     | CUSIP: 87583FAP3<br>LEI: 549300WQKU58ILVYFJ26 | Long             | LON              | CORP              | US        |   4287279 | PA      | $4201723.45   | 0.09%             | 2028-03-31      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $923.63       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                         | KKR CLO 46 Ltd                                                                                | CUSIP: 48255WAE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2080000 | PA      | $2106692.64   | 0.05%             | 2037-10-20      | Floating      | 11.33%                | No            |                  3 | On Loan: No      |
| ORIFARM HOLDING AS                                            | ORIFARM HOLDING AS                                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | DK        |   5851772 | NS      | $7282493.10   | 0.16%             |  |  |  | No            |                  3 | On Loan: No      |
| Propulsion (BC) Finco S.a.r.l.                                | Propulsion (BC) Finco Sarl 2025 Term Loan B                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5958150 | PA      | $5975726.97   | 0.13%             | 2029-09-14      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| Spotless Brands LLC                                           | Spotless Brands LLC Revolver                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1096033 | PA      | $1096033.33   | 0.02%             | 2028-07-25      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| BlackRock European CLO DAC                                    | Blackrock European CLO V DAC                                                                  | CUSIP: 000000000<br>LEI: 549300GMSDNM79W78J92 | Long             | ABS-CBDO         | CORP              | IE        |   2750000 | PA      | $533694.08    | 0.01%             | 2031-07-16      | Variable      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| BINGO GROUP BUYER INC                                         | Bingo Group Buyer Inc PIK Delayed Draw Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2663033 | PA      | $2663032.79   | 0.06%             | 2031-07-10      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Palmer Square CLO Ltd                                         | Palmer Square CLO 2022-1 Ltd                                                                  | CUSIP: 69689RAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2001858.00   | 0.04%             | 2038-10-20      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| RAPTOR MERGER SUB DEBT LLC                                    | Raptor Merger Sub Debt LLC 2024 Delayed Draw Term Loan                                        | CUSIP: 000000000<br>LEI: 254900FCZMRX1YEKJ405 | Long             | LON              | CORP              | US        |   2018660 | PA      | $2018642.09   | 0.04%             | 2029-04-01      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| IGT HOLDING IV AB                                             | IGT Holding IV AB 2025 USD Term Loan B5                                                       | CUSIP: 000000000<br>LEI: 549300S0NZ6VQU5JU607 | Long             | LON              | CORP              | SE        |   5364917 | PA      | $5391741.51   | 0.12%             | 2031-09-01      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $2693.83      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MAVERICK ACQUISITION INC                                      | MAVERICK ACQUISITION INC                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |      2985 | NS      | $1634513.46   | 0.04%             |  |  |  | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-54114.47    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $140.66       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| United Flow Technologies Intermediate Holdco II LLC           | United Flow Technologies Intermediate Holdco II LLC 2024 Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9955307 | PA      | $9956858.81   | 0.22%             | 2031-06-23      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $1177.29      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Apex Companies Holdings LLC                                   | Apex Companies Holdings LLC Initial Delayed Draw Term Loan                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    755687 | PA      | $755406.90    | 0.02%             | 2028-01-31      | Floating      | 9.27%                 | No            |                  3 | On Loan: No      |
| Bullhorn Inc                                                  | Bullhorn Inc 2020 Term Loan                                                                   | CUSIP: 12022JAC1<br>LEI: 549300GYR0T2960RHV38 | Long             | LON              | CORP              | US        |   5755608 | PA      | $5723138.16   | 0.12%             | 2029-10-01      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| Audax Senior Debt CLO, LLC                                    | Audax Senior Debt CLO 12 LLC                                                                  | CUSIP: 05071UAQ9<br>LEI: 2549000WPSDUYXTCWS66 | Long             | ABS-CBDO         | CORP              | KY        |   1330000 | PA      | $1298121.23   | 0.03%             | 2037-04-22      | Variable      | 8.59%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-20706.29    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Anticimex International AB                                    | Anticimex International AB 2021 USD Term Loan B1                                              | CUSIP: 000000000<br>LEI: 54930005SBU6WYFBEB41 | Long             | LON              | CORP              | SE        |   4883338 | PA      | $4887684.29   | 0.11%             | 2028-11-16      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-3871.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Dwyer Instruments Inc                                         | Dwyer Instruments Inc 1st Amendment Delayed Draw Term Loan                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1390142 | PA      | $1390141.54   | 0.03%             | 2029-07-20      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-39723.68    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ESPRESSO BIDCO INC                                            | Espresso Bidco Inc Delayed Draw Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6421634 | PA      | $6388380.04   | 0.14%             | 2032-03-25      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Ontario Gaming GTA LP                                         | Ontario Gaming GTA LP Term Loan B                                                             | CUSIP: 000000000<br>LEI: 894500EC9KLZLOC3V025 | Long             | LON              | CORP              | CA        |   1950101 | PA      | $1899827.42   | 0.04%             | 2030-08-01      | Floating      | 8.24%                 | No            |                  2 | On Loan: No      |
| iCIMS Inc                                                     | iCIMS Inc 2022 Term Loan                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  27543982 | PA      | $27028244.52  | 0.59%             | 2028-08-18      | Floating      | 10.07%                | No            |                  3 | On Loan: No      |
| SMB PRIVATE EDUCATION LOAN TRU                                | SMB PRIVATE EDUCATION LOAN TRU                                                                | CUSIP: 000000000<br>LEI: 5493000RGRVHYZAIY180 | Long             | ABS-O            | CORP              | US        |  52100000 | PA      | $0.00         | 0.00%             | 2056-03-15      | Variable      | 7.38%                 | No            |                  3 | On Loan: No      |
| Peraton Corp                                                  | Peraton Corp 2nd Lien Term Loan B1                                                            | CUSIP: 71360HAG2<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   4444944 | PA      | $2628072.84   | 0.06%             | 2029-02-01      | Floating      | 12.05%                | No            |                  2 | On Loan: No      |
| QBS PARENT INC                                                | QBS Parent Inc 2024 Revolver                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5227239 | PA      | $5227238.76   | 0.11%             | 2031-11-07      | Floating      | 4.50%                 | No            |                  3 | On Loan: No      |
| AGL CLO 19 Ltd                                                | AGL CLO 19 Ltd                                                                                | CUSIP: 001211AG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   6050000 | PA      | $6074200.00   | 0.13%             | 2038-07-21      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| PXO Holdings III Corp                                         | PXO Holdings III Corp 2022 Revolver                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1314652 | PA      | $1292398.36   | 0.03%             | 2028-03-08      | Floating      | 9.96%                 | No            |                  3 | On Loan: No      |
| Avoca CLO                                                     | Avoca CLO XXIX DAC                                                                            | CUSIP: 000000000<br>LEI: 549300EKPKIYEW0BB327 | Long             | ABS-CBDO         | CORP              | IE        |   4270000 | PA      | $5013196.33   | 0.11%             | 2038-10-15      | Floating      | 7.00%                 | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                                              | CIFC Funding 2015-IV Ltd                                                                      | CUSIP: 12550VAE0<br>LEI: 549300ZXX0SJBZWIWI81 | Long             | ABS-CBDO         | CORP              | KY        |   5952500 | PA      | $1633288.62   | 0.04%             | 2034-04-20      | Variable      | 2.38%                 | No            |                  3 | On Loan: No      |
| CIFC Funding Ltd                                              | CIFC Funding 2019-II Ltd                                                                      | CUSIP: 12554FAJ0<br>LEI: 254900JI8OLAMXS6KW67 | Long             | ABS-CBDO         | CORP              | KY        |   2850000 | PA      | $2866017.00   | 0.06%             | 2038-10-17      | Floating      | 8.99%                 | No            |                  3 | On Loan: No      |
| Fluid-Flow Products, Inc.                                     | Fluid-Flow Products Inc 2025 Term Loan B                                                      | CUSIP: 30260UAK1<br>LEI: 254900BHD5AK9H7EKF91 | Long             | LON              | CORP              | US        |   6796819 | PA      | $6808170.00   | 0.15%             | 2028-03-31      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| WestJet Loyalty LP                                            | WestJet Loyalty LP Term Loan B                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   4925000 | PA      | $4927659.50   | 0.11%             | 2031-02-14      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| MINERVA BIDCO LIMITED                                         | Minerva Bidco Limited 2023 GBP PIK Term Loan                                                  | CUSIP: 000000000<br>LEI: 213800XWA3V4T3U4T312 | Long             | LON              | CORP              | GB        |  21761116 | PA      | $28608016.65  | 0.62%             | 2030-11-07      | Floating      | 8.97%                 | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                                      | Madison Park Funding XLVII Ltd                                                                | CUSIP: 55820FAS7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5041600.00   | 0.11%             | 2037-04-19      | Floating      | 8.23%                 | No            |                  3 | On Loan: No      |
| MNR ABS ISSUER I LLC                                          | MNR ABS ISSUER I LLC                                                                          | CUSIP: 55317XAC3<br>LEI: 254900P5PAYARXBH9O74 | Long             | ABS-O            | CORP              | US        |   6237282 | PA      | $6377620.45   | 0.14%             | 2038-12-15      | Fixed         | 12.44%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4018.54     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                             | Magnetite XVII Ltd                                                                            | CUSIP: 55954GAG9<br>LEI: 5493003SVWF9GG13MZ22 | Long             | ABS-CBDO         | CORP              | KY        |   6400000 | PA      | $6472435.20   | 0.14%             | 2037-04-20      | Floating      | 10.83%                | No            |                  3 | On Loan: No      |
| ALLSPRING BUYER LLC                                           | AllSpring Buyer LLC 2024 Term Loan B                                                          | CUSIP: 98922AAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2992500 | PA      | $2996240.63   | 0.06%             | 2030-11-01      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| CSS HIL 2024 1 TRUST                                          | CSS HIL 2024 1 TRUST                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2759011 | PA      | $2132001.97   | 0.05%             | 2050-04-20      | Variable      | 2.89%                 | No            |                  3 | On Loan: No      |
| GENERATOR BUYER INC                                           | Generator Buyer Inc CAD Revolver                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   2777778 | PA      | $1980487.79   | 0.04%             | 2030-07-22      | Floating      | 7.70%                 | No            |                  3 | On Loan: No      |
| VCP RRL ABS Ltd                                               | VCP RRL ABS III Ltd                                                                           | CUSIP: 91825DAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6759452 | PA      | $6770172.04   | 0.15%             | 2034-04-20      | Floating      | 7.48%                 | No            |                  3 | On Loan: No      |
| Sixth Street CLO LTD.                                         | Sixth Street CLO XV Ltd                                                                       | CUSIP: 83012UAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5049215.00   | 0.11%             | 2037-10-24      | Floating      | 10.37%                | No            |                  3 | On Loan: No      |
| Primo Brands Corporation                                      | Primo Brands Corporation 2025 Term Loan B                                                     | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |   8143715 | PA      | $8139317.35   | 0.18%             | 2028-03-31      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| ZIPPY SHELL INCORPORATED                                      | ZIPPY SHELL INCORPORATED                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     82481 | NS      | $4553785.01   | 0.10%             |  |  |  | No            |                  3 | On Loan: No      |
| LDS INTERMEDIATE HOLDINGS LLC                                 | LDS INTERMEDIATE HOLDINGS LLC PIK INCREMENTAL Delayed Draw Term Loan                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8926512 | PA      | $8837246.95   | 0.19%             | 2032-02-09      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $53.36        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-9895.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Trinitas Euro CLO                                             | Trinitas Euro CLO X DAC                                                                       | CUSIP: 000000000<br>LEI: 635400YLRA6YCCCDYA32 | Long             | ABS-CBDO         | CORP              | IE        |   4980000 | PA      | $5846772.30   | 0.13%             | 2038-11-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CSS HIL 2024 1 TRUST                                          | CSS HIL 2024 1 TRUST                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5318000 | PA      | $5134267.83   | 0.11%             | 2050-04-20      | Fixed         | 7.75%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-13174.45    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEARU                                                         | NEARU                                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       532 | NS      | $63923.53     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Allied Universal Holdco LLC                                   | Allied Universal Holdco LLC 2021 USD Incremental Term Loan B                                  | CUSIP: 01957TAH0<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |         0 | PA      | $0.01         | 0.00%             | 2028-05-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Onepoint                                                      | Onepoint EUR Tranche 1 Term Loan                                                              | CUSIP: 000000000<br>LEI: 8945007TRUIQ6OBZWV08 | Long             | LON              | CORP              | FR        |  20707138 | PA      | $24128894.81  | 0.52%             | 2031-11-03      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| Cobham Ultra SeniorCo Sarl                                    | Cobham Ultra SeniorCo Sarl USD Term Loan B                                                    | CUSIP: 000000000<br>LEI: 254900L6IKLPZKIC4F32 | Long             | LON              | CORP              | LU        |   2911227 | PA      | $2909538.72   | 0.06%             | 2029-08-03      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRUST                              | SoFi Consumer Loan Program 2025-1 Trust                                                       | CUSIP: 83406Y101<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    124180 | PA      | $10772615.00  | 0.23%             | 2034-02-27      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| ENKINDLE LIMITED                                              | Enkindle Limited GBP Acquisition Facility 2                                                   | CUSIP: 000000000<br>LEI: 213800DIMLCM7UULLQ77 | Long             | LON              | CORP              | IM        |   1835199 | PA      | $2406454.36   | 0.05%             | 2031-04-06      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Babson CLO Ltd                                                | Barings CLO Ltd 2023-II                                                                       | CUSIP: 06763GAC2<br>LEI: 5493000BRJ0JDPJBIK61 | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2759275.75   | 0.06%             | 2038-10-20      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| 1251 FINANCING COMPANY LLC                                    | 1251 Financing Company LLC 2025 Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14385542 | PA      | $14304464.82  | 0.31%             | 2031-03-31      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| GYMSPA S.A.S                                                  | GYMSPA SAS 2025 EUR PIK Capex Facility                                                        | CUSIP: 000000000<br>LEI: 894500AJE4NGWVJGR317 | Long             | LON              | CORP              | FR        |   2306912 | PA      | $2654262.37   | 0.06%             | 2031-05-14      | Floating      | 8.03%                 | No            |                  3 | On Loan: No      |
| PLANO HOLDCO INC                                              | Plano HoldCo Inc Term Loan B                                                                  | CUSIP: 72712EAB3<br>LEI: 254900C53JLEP3CCOQ10 | Long             | LON              | CORP              | US        |   1990000 | PA      | $1940250.00   | 0.04%             | 2031-10-02      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| BRITISH AIR 20-1 B PTT                                        | British Airways 2020-1 Class B Pass Through Trust                                             | CUSIP: 11042WAA4<br>LEI: 635400FQKDVFBRDDER80 | Long             | DBT              | CORP              | US        |    272175 | PA      | $286017.86    | 0.01%             | 2028-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-3849.78     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                  | Voya CLO 2021-2 Ltd                                                                           | CUSIP: 92918YAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000682.00   | 0.02%             | 2038-04-20      | Floating      | 9.18%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $230.73       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED GBP / SOLD USD                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | GB        |         1 | NC      | $376.29       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $10.05        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco CLO Ltd                                               | Invesco US CLO 2024-1 Ltd                                                                     | CUSIP: 46148JAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10107810.00  | 0.22%             | 2037-04-15      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC 2024 Delayed Draw Term Loan E                                       | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |   3398326 | PA      | $3398325.70   | 0.07%             | 2028-08-05      | Floating      | 9.99%                 | No            |                  3 | On Loan: No      |
| Regatta XXVIII Funding Ltd.                                   | Regatta XXVIII Funding Ltd                                                                    | CUSIP: 75901QAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5047290.00   | 0.11%             | 2037-04-25      | Floating      | 11.17%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-13730.15    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                  | Voya CLO 2022-4 Ltd                                                                           | CUSIP: 92920MAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3105000 | PA      | $3152643.12   | 0.07%             | 2037-04-20      | Floating      | 11.03%                | No            |                  3 | On Loan: No      |
| Greenhouse Software Inc                                       | Greenhouse Software Inc Term Loan                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7598039 | PA      | $7598039.22   | 0.16%             | 2028-09-01      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| Cornerstone Building Brands Inc                               | Cornerstone Building Brands Inc 2024 Term Loan B                                              | CUSIP: 72431HAE0<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |  11060315 | PA      | $10037235.52  | 0.22%             | 2031-05-15      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| Advanced Web Technologies Holding Company                     | Advanced Web Technologies Holding Company Revolver                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    796013 | PA      | $795060.39    | 0.02%             | 2027-12-17      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| Medical Manufacturing Technologies LLC                        | Medical Manufacturing Technologies LLC Revolver                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2603321 | PA      | $2602893.49   | 0.06%             | 2027-12-23      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| MONROE CAPITAL INC CORP                                       | MONROE CAPITAL INC CORP                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16800000 | PA      | $17640000.00  | 0.38%             | 2028-11-15      | Fixed         | 9.42%                 | No            |                  3 | On Loan: No      |
| Reese Park CLO, Ltd.                                          | REESE PARK CLO LTD                                                                            | CUSIP: 758464AN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3560000 | PA      | $3563015.32   | 0.08%             | 2038-01-15      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-57264.83    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-4166.10     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-5162.16     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $65.55        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                            | PINNACLE BUYER LLC TERM LOAN                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2516129 | PA      | $2519274.20   | 0.05%             | 2032-09-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RRE Loan Management                                           | RRE 6 Loan Management DAC                                                                     | CUSIP: 000000000<br>LEI: 549300O0YBOSZ3WUET98 | Long             | ABS-CBDO         | CORP              | IE        |   1200000 | PA      | $1404252.13   | 0.03%             | 2038-10-15      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Celerion BuyerInc                                             | Celerion BuyerInc Revolver                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    124680 | PA      | $124680.32    | 0.00%             | 2028-11-03      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Bluemountain CLO Ltd                                          | BlueMountain CLO XXXI Ltd                                                                     | CUSIP: 09631DAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    735000 | PA      | $728726.04    | 0.02%             | 2034-04-19      | Floating      | 11.12%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-14010.99    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $4257.76      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                      | Madison Park Funding XXXII Ltd                                                                | CUSIP: 55817CAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1800000 | PA      | $1805574.60   | 0.04%             | 2037-07-22      | Floating      | 10.73%                | No            |                  3 | On Loan: No      |
| OPAL BIDCO SAS                                                | Opal Bidco SAS USD Term Loan B                                                                | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | LON              | CORP              | US        |  20000000 | PA      | $20040000.00  | 0.43%             | 2032-04-28      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Greenhouse Software Inc                                       | Greenhouse Software Inc 2022 2nd Amendment Incremental Revolver                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     66667 | PA      | $66666.67     | 0.00%             | 2028-09-01      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC 2024 Delayed Draw Term Loan F                                       | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |   3784451 | PA      | $3784451.21   | 0.08%             | 2028-08-05      | Floating      | 9.58%                 | No            |                  3 | On Loan: No      |
| Chartis Group, LLC (The)                                      | Chartis Group LLC (The) 2024 1st Lien Delayed Draw Term Loan                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9560060 | PA      | $9560060.19   | 0.21%             | 2031-09-17      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| BULLHORN INC                                                  | Bullhorn Inc 2024 8th Amendment Delayed Draw Term Loan                                        | CUSIP: 000000000<br>LEI: HJZQGXYTVV2NWJZLPW74 | Long             | LON              | CORP              | US        |   1386603 | PA      | $1378780.45   | 0.03%             | 2029-10-01      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| KRE Hyod Owner LLC                                            | KRE Hyod Owner LLC Term Loan A1                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1320876 | PA      | $1307667.35   | 0.03%             | 2026-09-13      | Floating      | 8.65%                 | No            |                  3 | On Loan: No      |
| SOVOS COMPLIANCE LLC                                          | Sovos Compliance LLC 2025 Repriced Term Loan B                                                | CUSIP: 84611YAF7<br>LEI: 549300M9XYG5WP2QHH07 | Long             | LON              | CORP              | US        |   4919265 | PA      | $4923741.12   | 0.11%             | 2029-08-13      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-193.63      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GENERATOR BUYER INC                                           | Generator Buyer Inc CAD Term Loan A                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |  19298611 | PA      | $13759438.95  | 0.30%             | 2030-07-22      | Floating      | 7.93%                 | No            |                  3 | On Loan: No      |
| PROJECT CASTLE INC                                            | Project Castle Inc Term Loan B                                                                | CUSIP: 74339YAB8<br>LEI: 254900DCEJ6U69AEM264 | Long             | LON              | CORP              | US        |   4850000 | PA      | $4012162.50   | 0.09%             | 2029-06-01      | Floating      | 9.72%                 | No            |                  2 | On Loan: No      |
| North Haven Fairway Buyer LLC                                 | North Haven Fairway Buyer LLC Term Loan                                                       | CUSIP: 000000000<br>LEI: 254900NRNT87TWAL0H92 | Long             | LON              | CORP              | US        |   9970422 | PA      | $9891647.93   | 0.21%             | 2028-05-17      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| ARES CLO Ltd                                                  | ARES LX CLO LTD                                                                               | CUSIP: 04018JAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6500000 | PA      | $3146988.00   | 0.07%             | 2034-07-18      | Variable      | 4.32%                 | No            |                  3 | On Loan: No      |
| Thoma Bravo Credit Asset Funding ABS LLC                      | THOMA BRAVO CREDIT ASSET FUNDING ABS LLC                                                      | CUSIP: 88432YAS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5003191 | PA      | $5004742.48   | 0.11%             | 2033-11-22      | Fixed         | 8.41%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED GBP / SOLD USD                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | GB        |         1 | NC      | $9112.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Galileo Parent Inc                                            | Galileo Parent Inc Term Loan                                                                  | CUSIP: 000000000<br>LEI: 254900XMZ2ZZ33TF4651 | Long             | LON              | CORP              | US        |  45468431 | PA      | $45759111.53  | 0.99%             | 2030-05-03      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | Long: GS IRS2 G IRS USD R F  6.60000 / Short: GS IRS2 G IRS USD P V 00MSOFR                   | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DIR              |  | US        | 100000000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $29168.39     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-31578.85    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $1202.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                                  | TruGreen Limited Partnership 2020 2nd Lien Term Loan                                          | CUSIP: 89787RAK8<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |   2000000 | PA      | $1791660.00   | 0.04%             | 2028-11-02      | Floating      | 13.07%                | No            |                  3 | On Loan: No      |
| Medical Manufacturing Technologies LLC                        | Medical Manufacturing Technologies LLC 2024 1st Amendment Incremental Term Loan               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9179555 | PA      | $9178046.23   | 0.20%             | 2027-12-23      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| Crown Point CLO Ltd                                           | Crown Point CLO 8 Ltd                                                                         | CUSIP: 22846CAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3462500 | PA      | $3458999.41   | 0.07%             | 2034-10-20      | Floating      | 11.72%                | No            |                  3 | On Loan: No      |
| PF Atlantic Holdco 2 LLC                                      | PF Atlantic Holdco 2 LLC 2021 Revolver                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1724093 | PA      | $1724092.56   | 0.04%             | 2027-11-12      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $5636.77      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AURORA PLASTICS                                               | Aurora Plastics 2025 Incremental Delayed Draw Term Loan                                       | CUSIP: 00217KAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    579784 | PA      | $580129.17    | 0.01%             | 2030-08-12      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-53489.19    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $60754.58     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Diligent Corporation                                          | Diligent Corporation 2024 Revolver                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3439752 | PA      | $3439752.49   | 0.07%             | 2030-08-02      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| FULLSTEAM OPERATIONS LLC                                      | Fullsteam Operations LLC 2025 Revolver                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    907112 | PA      | $898040.64    | 0.02%             | 2031-08-08      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| White Cap Buyer LLC                                           | White Cap Buyer LLC 2024 Term Loan B                                                          | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |   4962500 | PA      | $4961457.88   | 0.11%             | 2029-10-19      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| MIDOCEAN CREDIT CLO                                           | MIDOCEAN CREDIT CLO                                                                           | CUSIP: 000000000<br>LEI: 549300XSCUX0ONI5KZ96 | Long             | ABS-CBDO         | CORP              | US        |   3375000 | PA      | $113200.88    | 0.00%             | 2037-04-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| FPG INTERMEDIATE HOLDCO LLC                                   | FPG Intermediate Holdco LLC 2024 Priority Delayed Draw Term Loan                              | CUSIP: 000000000<br>LEI: 549300UYODKEPLPB3645 | Long             | LON              | CORP              | US        |      3031 | PA      | $3031.47      | 0.00%             | 2029-07-02      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| WINESHIPPING.COM LLC                                          | WINESHIPPING.COM LLC                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       702 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CP DEVELOPERS S.A.R.L.                                        | CP DEVELOPERS S.A.R.L.                                                                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | LU        |         0 | NS      | $1425781.44   | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| OPTIMIZELY NORTH AMERICA INC                                  | Optimizely North America Inc EUR Unitranche Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2261364 | PA      | $2654322.42   | 0.06%             | 2031-10-30      | Floating      | 7.15%                 | No            |                  3 | On Loan: No      |
| Nearmap Ltd                                                   | Nearmap Ltd 2023 Incremental Term Loan                                                        | CUSIP: 000000000<br>LEI: 529900TWDTDW761KGY70 | Long             | LON              | CORP              | AU        |   1328055 | PA      | $1329253.79   | 0.03%             | 2029-12-09      | Floating      | 9.33%                 | No            |                  3 | On Loan: No      |
| SPECIALTY PHARMA III INC                                      | Specialty Pharma III Inc Term Loan                                                            | CUSIP: 84750PAC4<br>LEI: 2549003GQ7SAPJJE7329 | Long             | LON              | CORP              | US        |  13491144 | PA      | $13491143.75  | 0.29%             | 2028-03-31      | Floating      | 8.76%                 | No            |                  3 | On Loan: No      |
| Onepoint                                                      | Onepoint EUR Tranche 3 Delyed Draw Term Loan                                                  | CUSIP: 000000000<br>LEI: 8945007TRUIQ6OBZWV08 | Long             | LON              | CORP              | FR        |   6045131 | PA      | $7044060.38   | 0.15%             | 2031-11-03      | Fixed         | 2.20%                 | No            |                  3 | On Loan: No      |
| ORTHRUS LIMITED                                               | Orthrus Limited 2024 USD PIK Senior Term Loan                                                 | CUSIP: 000000000<br>LEI: 254900HRIQNQKM97Y369 | Long             | LON              | CORP              | JE        |  19472539 | PA      | $19277813.44  | 0.42%             | 2031-12-05      | Floating      | 7.65%                 | No            |                  3 | On Loan: No      |
| Ellucian Holdings, Inc.                                       | Ellucian Holdings Inc 2024 1st Lien Term Loan B                                               | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |   7723230 | PA      | $7718441.94   | 0.17%             | 2029-10-09      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| GFP Atlantic Holdco 2 LLC                                     | GFP Atlantic Holdco 2 LLC Term Loan                                                           | CUSIP: 000000000<br>LEI: 549300JEHAJE6PNFGS39 | Long             | LON              | CORP              | US        |    834181 | PA      | $834181.07    | 0.02%             | 2027-11-12      | Floating      | 10.21%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $53.46        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Pennantpark CLO                                               | PennantPark CLO II Ltd                                                                        | CUSIP: 70806UAW2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5014580.00   | 0.11%             | 2036-04-15      | Floating      | 9.27%                 | No            |                  3 | On Loan: No      |
| Atlas US Finco Inc                                            | Atlas US Finco Inc Revolver                                                                   | CUSIP: 000000000<br>LEI: 254900D4YTKNIYZP2J52 | Long             | LON              | CORP              | US        |   1739831 | PA      | $1739831.28   | 0.04%             | 2028-12-09      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-227099.67   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Wineshipping.Com LLC                                          | WineshippingCom LLC 2025 3rd Amendment Delayed Draw Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1844305 | PA      | $1368069.22   | 0.03%             | 2028-12-29      | Floating      | 10.40%                | No            |                  3 | On Loan: No      |
| Galileo Parent Inc                                            | Galileo Parent Inc Revolver                                                                   | CUSIP: 000000000<br>LEI: 254900XMZ2ZZ33TF4651 | Long             | LON              | CORP              | US        |   7217211 | PA      | $7217211.30   | 0.16%             | 2029-05-03      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| Elmwood CLO 17 Ltd                                            | Elmwood CLO 17 Ltd                                                                            | CUSIP: 29003GAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  17500000 | PA      | $11508157.50  | 0.25%             | 2037-07-17      | Variable      | 6.89%                 | No            |                  3 | On Loan: No      |
| MNR ABS ISSUER I LLC                                          | MNR ABS ISSUER I LLC                                                                          | CUSIP: 55317XAA7<br>LEI: 254900P5PAYARXBH9O74 | Long             | ABS-O            | CORP              | US        |   5795863 | PA      | $5911780.62   | 0.13%             | 2038-12-15      | Fixed         | 8.12%                 | No            |                  3 | On Loan: No      |
| AMPERSCAP LLC                                                 | Amperscap LLC Delayed Draw Term Loan                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  29612637 | PA      | $29263942.02  | 0.63%             | 2032-12-17      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| Trimaran CAVU Ltd                                             | Trimaran CAVU 2022-1 Ltd                                                                      | CUSIP: 89624RAE9<br>LEI: 549300UZ4DECMUVOVS09 | Long             | ABS-CBDO         | CORP              | KY        |   6250000 | PA      | $6316262.50   | 0.14%             | 2037-10-22      | Floating      | 11.25%                | No            |                  3 | On Loan: No      |
| Wellman Park CLO Ltd                                          | Wellman Park CLO Ltd                                                                          | CUSIP: 94972AAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6012498.00   | 0.13%             | 2037-07-15      | Floating      | 10.62%                | No            |                  3 | On Loan: No      |
| Apidos CLO Ltd                                                | Apidos CLO XXXIII                                                                             | CUSIP: 03768NAJ4<br>LEI: 549300DDYHDQJDDDWB27 | Long             | ABS-CBDO         | CORP              | KY        |   9400000 | PA      | $9707267.20   | 0.21%             | 2038-04-24      | Floating      | 11.64%                | No            |                  3 | On Loan: No      |
| Birch Grove CLO Ltd.                                          | Birch Grove CLO 13 Ltd                                                                        | CUSIP: 090980AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  14000000 | PA      | $14074872.00  | 0.30%             | 2038-10-23      | Floating      | 9.31%                 | No            |                  3 | On Loan: No      |
| Essential Services Holding Corporation                        | Essential Services Holding Corporation 2024 Delayed Draw Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5948000 | PA      | $5934771.11   | 0.13%             | 2031-06-17      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Tank Holding Corp                                             | Tank Holding Corp 2022 Term Loan                                                              | CUSIP: 87583FAN8<br>LEI: 549300WQKU58ILVYFJ26 | Long             | LON              | CORP              | US        |  43432411 | PA      | $42287257.29  | 0.92%             | 2028-03-31      | Floating      | 10.01%                | No            |                  3 | On Loan: No      |
| HYPHEN SOLUTIONS LLC                                          | HYPHEN SOLUTIONS LLC 2025 3rd AMENDMENT Delayed Draw Term Loan                                | CUSIP: 44917CAD5<br>LEI: 2549002YMYXCK42WC067 | Long             | LON              | CORP              | US        |    837258 | PA      | $833071.69    | 0.02%             | 2032-08-06      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Magenta Security Holdings LLC                                 | Magenta Security Holdings LLC 2024 Super Priority Term Loan                                   | CUSIP: 55909UAC3<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |   2411612 | PA      | $2441757.60   | 0.05%             | 2028-07-27      | Floating      | 10.56%                | No            |                  2 | On Loan: No      |
| ORTHRUS LIMITED                                               | Orthrus Limited 2024 GBP PIK Senior Term Loan                                                 | CUSIP: 000000000<br>LEI: 254900HRIQNQKM97Y369 | Long             | LON              | CORP              | JE        |   8250942 | PA      | $10985721.16  | 0.24%             | 2031-12-05      | Floating      | 7.47%                 | No            |                  3 | On Loan: No      |
| Hoosier Intermediate LLC                                      | Hoosier Intermediate LLC Revolver                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1800000 | PA      | $1800000.00   | 0.04%             | 2027-11-15      | Fixed         | 0.38%                 | No            |                  3 | On Loan: No      |
| WP SUMMIT CO INVEST, L.P.                                     | WP SUMMIT CO INVEST, L.P.                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    151515 | NS      | $219696.98    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| 720 East CLO Ltd.                                             | 720 East CLO 2023-II Ltd                                                                      | CUSIP: 817941AJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2003514.00   | 0.04%             | 2036-10-15      | Floating      | 9.47%                 | No            |                  3 | On Loan: No      |
| Golub Capital Partners CLO Ltd                                | Golub Capital Partners CLO 71 M                                                               | CUSIP: 38179NAH7<br>LEI: 254900YII88OJ6IAHT32 | Long             | ABS-CBDO         | CORP              | US        |   7500000 | PA      | $7540672.50   | 0.16%             | 2037-02-09      | Floating      | 9.33%                 | No            |                  3 | On Loan: No      |
| ORTHRUS LIMITED                                               | Orthrus Limited 2024 GBP PIK Acquisition Capex Term Loan                                      | CUSIP: 000000000<br>LEI: 254900HRIQNQKM97Y369 | Long             | LON              | CORP              | JE        |   1683452 | PA      | $2241432.45   | 0.05%             | 2031-12-05      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC 2024 4th Amendment Incremental Term Loan                            | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |   3048286 | PA      | $3048285.82   | 0.07%             | 2028-08-05      | Floating      | 9.95%                 | No            |                  3 | On Loan: No      |
| KKR Financial CLO Ltd                                         | KKR CLO 28 LTD                                                                                | CUSIP: 48253VAE4<br>LEI: 549300OP87QBZ6KR1406 | Long             | ABS-CBDO         | CORP              | KY        |   6800000 | PA      | $6805100.00   | 0.15%             | 2035-02-09      | Floating      | 11.72%                | No            |                  3 | On Loan: No      |
| MORE COWBELL II LLC                                           | MORE COWBELL II LLC 2025 2nd AMENDMENT TERM LOAN                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  16017798 | PA      | $16017797.55  | 0.35%             | 2030-09-03      | Floating      | 8.02%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-3213.33     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC 2023 Delayed Draw Term Loan D                                       | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |   2973018 | PA      | $2973018.07   | 0.06%             | 2028-08-05      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| United Flow Technologies Intermediate Holdco II, LLC          | United Flow Technologies Intermediate Holdco II LLC 2025 1st Amendment Delayed Draw Term Loan | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9307272 | PA      | $9308722.05   | 0.20%             | 2031-06-23      | Floating      | 9.57%                 | No            |                  3 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                                       | Zayo Group Holdings Inc                                                                       | CUSIP: 98919VAA3<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4824355.00   | 0.10%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Denali Midco 2 LLC                                            | Denali Midco 2 LLC 2023 Incremental Delayed Draw Term Loan 5                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11682833 | PA      | $11623460.35  | 0.25%             | 2028-12-22      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| JORDANES WARRANT                                              | JORDANES WARRANT                                                                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    156018 | NS      | $2143202.41   | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| AGL CLO Ltd.                                                  | AGL CLO 9 LTD                                                                                 | CUSIP: 001208AE7<br>LEI: 549300U1G1VA46DEO184 | Long             | ABS-CBDO         | CORP              | KY        |   5600000 | PA      | $5610119.20   | 0.12%             | 2037-04-20      | Floating      | 10.83%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $330878.81    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Danby Park CLO, Ltd                                           | Danby Park CLO Ltd                                                                            | CUSIP: 23605DAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   7190750 | PA      | $265187.67    | 0.01%             | 2035-10-21      | Fixed         | 0.07%                 | No            |                  3 | On Loan: No      |
| Hunter Douglas Inc.                                           | Hunter Douglas Inc 2025 USD Term Loan B                                                       | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |   6252750 | PA      | $6252750.00   | 0.14%             | 2032-01-20      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-1826.51     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $395.43       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Octagon 70 Alto Ltd                                           | Octagon 70 Alto Ltd                                                                           | CUSIP: 67578CAJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4850000 | PA      | $4850000.00   | 0.11%             | 2036-10-20      | Floating      | 8.42%                 | No            |                  3 | On Loan: No      |
| DAFFODIL BIDCO LIMITED                                        | Daffodil Bidco Limited 2024 GBP Term Loan B                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  30353366 | PA      | $41332504.10  | 0.90%             | 2031-04-30      | Floating      | 10.47%                | No            |                  3 | On Loan: No      |
| Dwyer Instruments Inc                                         | Dwyer Instruments Inc Term Loan                                                               | CUSIP: 26745LAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  18942256 | PA      | $18942256.44  | 0.41%             | 2029-07-20      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| PCF HOLDCO, LLC                                               | PCF HOLDCO, LLC                                                                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    386981 | NS      | $189620.69    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BRADYPLUS HOLDINGS LLC                                        | Bradyplus Holdings LLC 2024 Term Loan B                                                       | CUSIP: 000000000<br>LEI: 254900LMURL5G873DV35 | Long             | LON              | CORP              | US        |  26305193 | PA      | $26305192.59  | 0.57%             | 2029-10-31      | Floating      | 9.31%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-12879.66    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC Delayed Draw Term Loan A                                            | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |    839078 | PA      | $839078.13    | 0.02%             | 2028-08-05      | Floating      | 9.92%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $1200.33      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2025 DDTL - 4/23 Borrowing                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3849159 | PA      | $3801044.38   | 0.08%             | 2032-04-23      | Floating      | 10.30%                | No            |                  3 | On Loan: No      |
| Advanced Web Technologies Holding Company                     | Advanced Web Technologies Holding Company First Amendment Delayed Draw Term Loan 2            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1064671 | PA      | $1063397.33   | 0.02%             | 2027-12-17      | Floating      | 7.84%                 | No            |                  3 | On Loan: No      |
| Aimco                                                         | AIMCO CLO Series 2018-A                                                                       | CUSIP: 00900HAE3<br>LEI: 549300MMTPNJGGRMPB33 | Long             | ABS-CBDO         | CORP              | KY        |   1330000 | PA      | $1339061.29   | 0.03%             | 2037-10-17      | Floating      | 9.57%                 | No            |                  3 | On Loan: No      |
| ZIPPY SHELL INCORPORATED                                      | ZIPPY SHELL INCORPORATED                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    432046 | NS      | $23853259.66  | 0.52%             |  |  |  | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-38144.31    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-13839.53    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oak Purchaser Inc                                             | Oak Purchaser Inc 2024 Delayed Draw Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    202960 | PA      | $200778.51    | 0.00%             | 2028-05-31      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| CST Holding Company                                           | CST Holding Company Term Loan                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2423628 | PA      | $2423628.50   | 0.05%             | 2028-11-01      | Floating      | 9.26%                 | No            |                  3 | On Loan: No      |
| OHA Loan Funding Ltd                                          | OHA Loan Funding 2015-1 Ltd                                                                   | CUSIP: 67109CBG6<br>LEI: 25490072LQI0R2J4XC93 | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3521819.00   | 0.08%             | 2038-10-19      | Floating      | 8.97%                 | No            |                  3 | On Loan: No      |
| Cloud Software Group Inc                                      | Cloud Software Group Inc 2025 Term Loan B (2031)                                              | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |   4975000 | PA      | $4992114.00   | 0.11%             | 2031-03-21      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Apex Companies Holdings LLC                                   | Apex Companies Holdings LLC 2024 Delayed Draw Term Loan B                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2477136 | PA      | $2476218.58   | 0.05%             | 2028-01-31      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-789523.04   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| NUVEI TECHNOLOGIES CORP                                       | Nuvei Technologies Corp 2025 Repriced Term Loan B                                             | CUSIP: 69425BAD9<br>LEI: 254900L3D6CI0XH2P605 | Long             | LON              | CORP              | US        |   7394945 | PA      | $7391321.61   | 0.16%             | 2031-11-17      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| SHARP SERVICES LLC                                            | SHARP SERVICES LLC 2025 TERM LOAN B                                                           | CUSIP: 81989LAG3<br>LEI: 549300ZXMVUWBVXDAR03 | Long             | LON              | CORP              | US        |   4750000 | PA      | $4750000.00   | 0.10%             | 2032-09-12      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                           | Clydesdale Acquisition Holdings Inc 2025 Delayed Draw Term Loan                               | CUSIP: 18972FAF9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    154639 | PA      | $154359.28    | 0.00%             | 2032-04-01      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| AURORA PLASTICS                                               | Aurora Plastics Revolver                                                                      | CUSIP: 00217KAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    220327 | PA      | $220327.02    | 0.00%             | 2030-08-12      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Allied Benefit Systems Intermediate LLC                       | Allied Benefit Systems Intermediate LLC 2023 Delayed Draw Term Loan                           | CUSIP: 000000000<br>LEI: 894500WRVTXD1ZM0Z876 | Long             | LON              | CORP              | US        |   3128904 | PA      | $3128903.61   | 0.07%             | 2030-10-31      | Floating      | 9.44%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $33726.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Raptor Merger Sub Debt LLC                                    | Raptor Merger Sub Debt LLC Revolver                                                           | CUSIP: 75063DAB3<br>LEI: 254900FCZMRX1YEKJ405 | Long             | LON              | CORP              | US        |   1395344 | PA      | $1395331.30   | 0.03%             | 2029-04-01      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| Delta Topco Inc                                               | Delta TopCo Inc 2024 2nd Lien Term Loan                                                       | CUSIP: 24780DAH0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5000000 | PA      | $4970300.00   | 0.11%             | 2030-11-29      | Floating      | 9.52%                 | No            |                  2 | On Loan: No      |
| Athlete Buyer LLC                                             | Athlete Buyer LLC 2024 3rd Amendment Delayed Draw Term Loan C                                 | CUSIP: 000000000<br>LEI: 254900IVX89MZM61X059 | Long             | LON              | CORP              | US        |   7410009 | PA      | $6487472.30   | 0.14%             | 2029-04-26      | Floating      | 9.85%                 | No            |                  3 | On Loan: No      |
| Spotless Brands LLC                                           | Spotless Brands LLC Delayed Draw Term Loan A                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4071841 | PA      | $4092199.92   | 0.09%             | 2028-07-25      | Floating      | 9.62%                 | No            |                  3 | On Loan: No      |
| Babson CLO Ltd                                                | Barings CLO Ltd 2020-I                                                                        | CUSIP: 06762MAF3<br>LEI: 549300VMZDDY0435KV08 | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1596772.80   | 0.03%             | 2038-01-15      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| Voya Euro CLO                                                 | Voya Euro Clo IX DAC                                                                          | CUSIP: 000000000<br>LEI: 254900AKUU9IHYZWTU14 | Long             | ABS-CBDO         | CORP              | IE        |   2250000 | PA      | $2653437.86   | 0.06%             | 2038-10-15      | Floating      | 7.52%                 | No            |                  3 | On Loan: No      |
| Align Precision Group LLC                                     | Align Precision Group LLC Term Loan A1                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5925861 | PA      | $5925861.49   | 0.13%             | 2030-07-03      | Floating      | 7.38%                 | No            |                  3 | On Loan: No      |
| QBS PARENT INC                                                | QBS Parent Inc 2025 Unitranche Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  44484983 | PA      | $44684102.78  | 0.97%             | 2032-06-03      | Floating      | 8.50%                 | No            |                  3 | On Loan: No      |
| PF Atlantic Holdco 2 LLC                                      | PF Atlantic Holdco 2 LLC 2021 Delayed Draw Term Loan                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12551825 | PA      | $12551824.82  | 0.27%             | 2027-11-12      | Floating      | 10.36%                | No            |                  3 | On Loan: No      |
| Embark Intermediate Holdings, LLC                             | EMBARK INTERMEDITE HLDINGS LLC TERM LOAN B                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5952381 | PA      | $5892857.15   | 0.13%             | 2032-09-02      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| Elmwood CLO I Ltd.                                            | Elmwood CLO I Ltd                                                                             | CUSIP: 29001QAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3637500 | PA      | $3641450.33   | 0.08%             | 2037-04-20      | Floating      | 10.73%                | No            |                  3 | On Loan: No      |
| NEFCO Holding Company LLC                                     | NEFCO Holding Company LLC Delayed Draw Term Loan C                                            | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |   1121978 | PA      | $1121977.98   | 0.02%             | 2028-08-05      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| Infront Luxembourg Finance Sarl                               | Infront Luxembourg Finance Sarl EUR PIK Term Loan B                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |  21679650 | PA      | $25453007.86  | 0.55%             | 2027-05-28      | Floating      | 12.03%                | No            |                  3 | On Loan: No      |
| Pound Bidco Inc                                               | Pound Bidco Inc 2024 Restatement Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |  39804247 | PA      | $39708214.83  | 0.86%             | 2027-02-01      | Floating      | 10.66%                | No            |                  3 | On Loan: No      |
| OPTIMIZELY NORTH AMERICA INC                                  | Optimizely North America Inc USD Revolver                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1022727 | PA      | $1022082.20   | 0.02%             | 2031-10-30      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| DAFFODIL BIDCO LIMITED                                        | Daffodil Bidco Limited 2025 GBP PIK Term Loan B2                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   3167934 | PA      | $4963543.84   | 0.11%             | 2031-04-30      | Floating      | 16.47%                | No            |                  3 | On Loan: No      |
| Goldman Sachs & Co. LLC                                       | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              |  | US        |         1 | NC      | $-3423953.82  | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| DWYER INSTRUMENTS, INC.                                       | DWYER INSTRUMENTS, INC.                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5454 | NS      | $131821.13    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $17139.76     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| IQN Holding Corp                                              | IQN Holding Corp 2022 Term Loan                                                               | CUSIP: 000000000<br>LEI: 549300MBFE58LQAJEO51 | Long             | LON              | CORP              | US        |   6855717 | PA      | $6802924.91   | 0.15%             | 2029-05-02      | Floating      | 6.63%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-33561.86    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RIALTO MANAGEMENT GROUP LLC                                   | Rialto Management Group LLC 2024 Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14509554 | PA      | $14584207.25  | 0.32%             | 2030-12-05      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| ALERA GROUP INC                                               | Alera Group Inc 2025 Term Loan                                                                | CUSIP: 01451PAB2<br>LEI: 2549003D76KZAKICNX26 | Long             | LON              | CORP              | US        |   7000000 | PA      | $7022890.00   | 0.15%             | 2032-05-31      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Apex Companies Holdings LLC                                   | Apex Companies Holdings LLC 2024 Specified Delayed Draw Term Loan                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1655066 | PA      | $1654452.72   | 0.04%             | 2028-01-31      | Floating      | 9.45%                 | No            |                  3 | On Loan: No      |
| Cordatus CLO PLC                                              | CVC Cordatus Loan Fund XXII DAC                                                               | CUSIP: 000000000<br>LEI: 549300CLF3QO0FAYZ343 | Long             | ABS-CBDO         | CORP              | IE        |   1550000 | PA      | $1849710.24   | 0.04%             | 2034-12-15      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-87120.25    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KRE Hyod Owner LLC                                            | KRE Hyod Owner LLC Term Loan A2                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3719970 | PA      | $3701370.00   | 0.08%             | 2026-09-01      | Floating      | 14.90%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-3322.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2024 DDTL - 11/25 Borrowing                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4823252 | PA      | $4762960.96   | 0.10%             | 2029-11-25      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| AURORA PLASTICS                                               | Aurora Plastics Delayed Draw Term Loan                                                        | CUSIP: 00217KAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    128210 | PA      | $128286.07    | 0.00%             | 2030-08-12      | Floating      | 9.13%                 | No            |                  3 | On Loan: No      |
| HOLDING ARGON                                                 | Holding Argon EUR Additional Bonds                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |  12635835 | PA      | $14686759.63  | 0.32%             | 2032-04-16      | Floating      | 7.72%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED GBP / SOLD USD                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | GB        |         1 | NC      | $606.27       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                         | Palmer Square CLO 2018-1 Ltd                                                                  | CUSIP: 69689GAE7<br>LEI: 549300A8L0VCZ9626397 | Long             | ABS-CBDO         | CORP              | KY        |   3300000 | PA      | $3316120.50   | 0.07%             | 2037-04-18      | Floating      | 11.27%                | No            |                  3 | On Loan: No      |
| United Flow Technologies Intermediate Holdco II LLC           | United Flow Technologies Intermediate Holdco II LLC 2024 Delayed Draw Term Loan               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5560659 | PA      | $5561525.84   | 0.12%             | 2031-06-23      | Floating      | 9.58%                 | No            |                  3 | On Loan: No      |
| EINSTEIN PARENT INC                                           | Einstein Parent Inc Revolver                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4712806 | PA      | $4602782.15   | 0.10%             | 2031-01-22      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Polaris Newco LLC                                             | Polaris Newco LLC EUR Term Loan B                                                             | CUSIP: 73108RAC2<br>LEI: 254900LEPDAG7EDOA064 | Long             | LON              | CORP              | US        |   9896907 | PA      | $10803435.05  | 0.23%             | 2028-06-02      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Silver Point Capital CLO 1, Ltd                               | Silver Point CLO 1 Ltd                                                                        | CUSIP: 82808DAL7<br>LEI: 549300UJUGKIKZF7CD63 | Long             | ABS-CBDO         | CORP              | JE        |   1362500 | PA      | $1358841.69   | 0.03%             | 2038-01-20      | Floating      | 9.58%                 | No            |                  3 | On Loan: No      |
| RXR Atlas Mezz LLC                                            | RXR Atlas Mezz LLC Mezzanine Term Loan                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5000000 | PA      | $432500.00    | 0.01%             | 2025-08-25      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Allied Benefit Systems Intermediate LLC                       | Allied Benefit Systems Intermediate LLC 2023 Term Loan                                        | CUSIP: 000000000<br>LEI: 894500WRVTXD1ZM0Z876 | Long             | LON              | CORP              | US        |  17018286 | PA      | $17018285.79  | 0.37%             | 2030-10-31      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| Birch Grove CLO Ltd.                                          | Birch Grove CLO Ltd                                                                           | CUSIP: 09075QAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7000000 | PA      | $7059479.00   | 0.15%             | 2037-07-17      | Floating      | 11.26%                | No            |                  3 | On Loan: No      |
| Sound Point CLO LTD                                           | Sound Point CLO 35 Ltd                                                                        | CUSIP: 83607RAE3<br>LEI: 5493007O9REHODCOEJ53 | Long             | ABS-CBDO         | CORP              | JE        |   1670000 | PA      | $1673977.94   | 0.04%             | 2038-04-26      | Floating      | 10.11%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-55507.53    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Aimco                                                         | Aimco CLO 20 Ltd                                                                              | CUSIP: 00901TAA4<br>LEI: 2549009AFNTQKXTAWE65 | Long             | ABS-CBDO         | CORP              | JE        |   6000000 | PA      | $6034050.00   | 0.13%             | 2036-10-16      | Floating      | 11.32%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $248.21       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Voya Euro CLO                                                 | Voya Euro CLO V DAC                                                                           | CUSIP: 000000000<br>LEI: 549300IGE7MPYA8F0423 | Long             | ABS-CBDO         | CORP              | IE        |   1416000 | PA      | $1667810.51   | 0.04%             | 2035-04-15      | Floating      | 7.84%                 | Yes           |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-40229.75    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| June Purchaser LLC                                            | June Purchaser LLC Delayed Draw Term Loan                                                     | CUSIP: 48171UAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    928571 | PA      | $930892.86    | 0.02%             | 2031-11-28      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Star Parent Inc                                               | Star Parent Inc Term Loan B                                                                   | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |   2955000 | PA      | $2953758.90   | 0.06%             | 2030-09-27      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $158604.12    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TTF Holdings LLC                                              | TTF Holdings LLC 2024 Term Loan                                                               | CUSIP: 83421EAB2<br>LEI: 254900IIAWXPGAIX2Q35 | Long             | LON              | CORP              | US        |   1917481 | PA      | $1812019.19   | 0.04%             | 2031-07-18      | Floating      | 7.79%                 | No            |                  3 | On Loan: No      |
| Helios Buyer Inc                                              | Helios Buyer Inc Revolver                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    695028 | PA      | $674929.21    | 0.01%             | 2026-12-15      | Floating      | 10.16%                | No            |                  3 | On Loan: No      |
| Audax Senior Debt CLO, LLC                                    | Audax Senior Debt CLO 9 LLC                                                                   | CUSIP: 050931AJ3<br>LEI: 254900HQ7017XX4K1M13 | Long             | ABS-CBDO         | CORP              | US        |   5000000 | PA      | $5061980.00   | 0.11%             | 2036-04-20      | Floating      | 9.53%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-1056822.94  | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Providus CLO                                                  | Providus CLO                                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   4500000 | PA      | $5283227.98   | 0.11%             | 2039-11-19      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| WHITNEY MERGER SUB INC                                        | Whitney Merger Sub Inc Term Loan                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  17132867 | PA      | $16965501.29  | 0.37%             | 2032-07-05      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Eyesouth Eye Care HoldCo LLC                                  | Eyesouth Eye Care HoldCo LLC 2024 Incremental Delayed Draw Term Loan                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1099377 | PA      | $1099376.77   | 0.02%             | 2029-10-05      | Floating      | 9.76%                 | No            |                  3 | On Loan: No      |
| Electronics For Imaging Inc                                   | Electronics for Imaging Inc Term Loan                                                         | CUSIP: 28608EAE6<br>LEI: 549300PN42C4XYPSEV84 | Long             | LON              | CORP              | US        |   4615903 | PA      | $3056374.05   | 0.07%             | 2028-07-21      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| OCP CLO Ltd                                                   | OCP CLO 2016-12 Ltd                                                                           | CUSIP: 67092TAL8<br>LEI: 254900U8BS6KLMI9K654 | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2788634.75   | 0.06%             | 2037-10-18      | Floating      | 10.33%                | No            |                  3 | On Loan: No      |
| iCIMS Inc                                                     | iCIMS Inc 2022 Revolver                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2438408 | PA      | $2392750.91   | 0.05%             | 2028-08-18      | Floating      | 10.08%                | No            |                  3 | On Loan: No      |
| Palmer Square CLO Ltd                                         | Palmer Square CLO 2022-4 Ltd                                                                  | CUSIP: 69700YAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2666667 | PA      | $2682925.67   | 0.06%             | 2037-10-20      | Floating      | 9.83%                 | No            |                  3 | On Loan: No      |
| PAI Holdco Inc                                                | PAI Holdco Inc 2020 2nd Lien Term Loan                                                        | CUSIP: 000000000<br>LEI: 2549001NJ55NUV372F56 | Long             | LON              | CORP              | US        |   3723898 | PA      | $3144789.62   | 0.07%             | 2028-10-28      | Floating      | 9.96%                 | No            |                  3 | On Loan: No      |
| TICP CLO Ltd                                                  | TICP CLO XI Ltd                                                                               | CUSIP: 87249RAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4700000 | PA      | $4754985.30   | 0.10%             | 2037-04-25      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                           | Clydesdale Acquisition Holdings Inc 2025 Term Loan B                                          | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   8823247 | PA      | $8807277.34   | 0.19%             | 2032-04-01      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                               | OHA Credit Funding 16 Ltd                                                                     | CUSIP: 676925AA8<br>LEI: 254900W0AHSZOPI4ZP08 | Long             | ABS-CBDO         | CORP              | BM        |   8000000 | PA      | $8038448.00   | 0.17%             | 2036-10-20      | Floating      | 11.08%                | No            |                  3 | On Loan: No      |
| INSTRUCTURE HOLDINGS INC                                      | Instructure Holdings Inc 2025 Repriced Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9775500 | PA      | $9758686.14   | 0.21%             | 2031-11-13      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| iSolved Inc                                                   | iSolved Inc 2025 Term Loan                                                                    | CUSIP: 46488HAF3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4432837 | PA      | $4441702.46   | 0.10%             | 2030-10-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Essential Services Holding Corporation                        | Essential Services Holding Corporation 2024 Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  30334400 | PA      | $30266933.56  | 0.66%             | 2031-06-17      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| Central Parent Inc                                            | Central Parent Inc 2024 Term Loan B                                                           | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7979849 | PA      | $6884774.21   | 0.15%             | 2029-07-06      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| MORE COWBELL II LLC                                           | MORE COWBELL II LLC 2025 2nd AMENDMENT REVOLVER                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2224694 | PA      | $2224694.10   | 0.05%             | 2029-09-04      | Floating      | 8.09%                 | No            |                  3 | On Loan: No      |
| Crown Point CLO Ltd                                           | Crown Point CLO 10 Ltd                                                                        | CUSIP: 22846GAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3008349.00   | 0.07%             | 2034-07-20      | Floating      | 11.44%                | No            |                  3 | On Loan: No      |
| Proampac PG Borrower LLC                                      | Proampac PG Borrower LLC 2024 Term Loan                                                       | CUSIP: 74274NAL7<br>LEI: 549300ZI6LTXYFEY1578 | Long             | LON              | CORP              | US        |   5759183 | PA      | $5772140.67   | 0.12%             | 2028-09-15      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                         | KKR CLO 10 Ltd                                                                                | CUSIP: 48250JAG9<br>LEI: 549300N7FISC1W1QKR21 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3005778.00   | 0.07%             | 2029-09-15      | Floating      | 10.80%                | No            |                  3 | On Loan: No      |
| GENERATOR BUYER INC                                           | Generator Buyer Inc CAD Delayed Draw Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   5541859 | PA      | $3951210.12   | 0.09%             | 2030-07-22      | Floating      | 7.70%                 | No            |                  3 | On Loan: No      |
| Cordstrap Holding B.V                                         | Cordstrap Holding BV 2025 EUR PIK Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |   1206248 | PA      | $1416196.45   | 0.03%             | 2027-07-04      | Floating      | 11.00%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-13750.94    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Gryphon Acquire Newco, LLC                                    | GRYPHON ACQUIRE NEWCO LLC TERM LOAN B                                                         | CUSIP: 40054QAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5000000 | PA      | $5010950.00   | 0.11%             | 2032-09-13      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-3958.80     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Finastra USA Inc                                              | Finastra USA Inc 2023 Term Loan                                                               | CUSIP: 000000000<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |  10000000 | PA      | $10100000.03  | 0.22%             | 2029-09-13      | Floating      | 11.29%                | No            |                  3 | On Loan: No      |
| LDS INTERMEDIATE HOLDINGS LLC                                 | LDS Intermediate Holdings LLC PIK Revolver                                                    | CUSIP: 50205XAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4155125 | PA      | $4142803.34   | 0.09%             | 2032-02-09      | Floating      | 2.63%                 | No            |                  3 | On Loan: No      |
| Trioworld Midco 2 AB                                          | Trioworld Midco 2 AB EUR PIK Term Loan                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SE        |  40211271 | PA      | $46974019.40  | 1.02%             | 2028-10-17      | Floating      | 12.29%                | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co II LLC                       | Coreweave Compute Acquisition Co II LLC Delayed Draw Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2939189 | PA      | $2968581.08   | 0.06%             | 2028-07-31      | Floating      | 13.95%                | No            |                  3 | On Loan: No      |
| Alliant Holdings Intermediate, LLC                            | Alliant Holdings Intermediate LLC 2025 Term Loan B                                            | CUSIP: 01881UAN5<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |   9912594 | PA      | $9883847.21   | 0.21%             | 2031-09-19      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| ARETEC GROUP INC                                              | Aretec Group Inc                                                                              | CUSIP: 040133AA8<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |   9140000 | PA      | $9179715.13   | 0.20%             | 2029-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| APEX STRUCTURED HOLDINGS LTD                                  | Apex Structured Holdings Ltd EUR PIK Fixed Term Loan A1                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | BM        |   1921267 | PA      | $2250025.76   | 0.05%             | 2054-07-19      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-706895.42   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-12150.22    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OCP Euro CLO                                                  | OCP Euro Clo 2025-14 DAC                                                                      | CUSIP: 000000000<br>LEI: 635400IFXA9UJERUJA44 | Long             | ABS-CBDO         | CORP              | IE        |   2500000 | PA      | $2935126.66   | 0.06%             | 2038-10-26      | Floating      | 7.38%                 | No            |                  3 | On Loan: No      |
| Smarsh, Inc.                                                  | Smarsh Inc 2025 Delayed Draw Term Loan                                                        | CUSIP: 000000000<br>LEI: 549300DEPB8M6RR0JB42 | Long             | LON              | CORP              | US        |   1020380 | PA      | $1025482.12   | 0.02%             | 2029-02-16      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| TURQUOISE TOPCO LTD                                           | TURQUOISE TOPCO LTD TERM LOAN B                                                               | CUSIP: 000000000<br>LEI: 254900RI25V4FBT02P38 | Long             | LON              | CORP              | US        |   6400000 | PA      | $6404032.00   | 0.14%             | 2032-07-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| ATHENA S.P.A.                                                 | ATHENA S.P.A.                                                                                 | CUSIP: 000000000<br>LEI: 8156006930494C5BF061 | Long             | DBT              | CORP              | IT        |  23871003 | PA      | $28025767.21  | 0.61%             | 2027-04-12      | Variable      | 8.00%                 | No            |                  3 | On Loan: No      |
| I-Logic Technologies Bidco Limited                            | I-Logic Technologies Bidco Limited 2024 Term Loan                                             | CUSIP: 00510DAF1<br>LEI: 213800PHEXJH1L7ZN896 | Long             | LON              | CORP              | US        |   8977330 | PA      | $8973559.49   | 0.19%             | 2028-02-16      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| Ellkay                                                        | Ellkay 2025 5th Amendment Term Loan                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14159145 | PA      | $14221842.44  | 0.31%             | 2030-09-13      | Floating      | 7.48%                 | No            |                  3 | On Loan: No      |
| Oak Purchaser Inc                                             | Oak Purchaser Inc Revolver                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    882349 | PA      | $879751.46    | 0.02%             | 2028-05-31      | Floating      | 14.50%                | No            |                  3 | On Loan: No      |
| MORE COWBELL II LLC                                           | MORE COWBELL II LLC 2025 2nd A DELAYED DRAW Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1112347 | PA      | $1112347.06   | 0.02%             | 2030-09-03      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2025 DDTL - 2/5 Borrowing                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4419760 | PA      | $4364512.84   | 0.09%             | 2032-02-03      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| BLACKBIRD PURCHASER INC.                                      | BLACKBIRD PURCHASER INC.                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     20539 | NS      | $20218583.38  | 0.44%             |  |  |  | No            |                  3 | On Loan: No      |
| Apidos CLO Ltd                                                | Apidos CLO XVIII-R                                                                            | CUSIP: 03767QAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5450000 | PA      | $5479675.25   | 0.12%             | 2038-01-22      | Floating      | 9.83%                 | No            |                  3 | On Loan: No      |
| Bluecat Networks (USA) Inc                                    | Bluecat Networks (USA) Inc 2022 Term Loan A                                                   | CUSIP: 000000000<br>LEI: 5493003F3N6IPSL3XU23 | Long             | LON              | CORP              | US        |   3218333 | PA      | $3142846.13   | 0.07%             | 2028-08-08      | Floating      | 9.06%                 | No            |                  3 | On Loan: No      |
| Athlete Buyer LLC                                             | Athlete Buyer LLC 2024 3rd Amendment Delayed Draw Term Loan D                                 | CUSIP: 000000000<br>LEI: 254900IVX89MZM61X059 | Long             | LON              | CORP              | US        |   7425743 | PA      | $6501246.83   | 0.14%             | 2029-04-26      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| June Purchaser LLC                                            | June Purchaser LLC Term Loan                                                                  | CUSIP: 48171UAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5543571 | PA      | $5557430.36   | 0.12%             | 2031-11-28      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                  | Ares XXXIV CLO Ltd                                                                            | CUSIP: 04015HAS6<br>LEI: 549300VDFIIXSFET0S73 | Long             | ABS-CBDO         | CORP              | KY        |   4070000 | PA      | $4110565.69   | 0.09%             | 2038-07-17      | Floating      | 9.74%                 | No            |                  3 | On Loan: No      |
| DARKTRACE PLC                                                 | Darktrace PLC 1st Lien Term Loan                                                              | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9950000 | PA      | $9942338.50   | 0.22%             | 2031-10-09      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD NOK                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-5354202.50  | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                                               | Oaktree CLO 2021-1 Ltd                                                                        | CUSIP: 67402KAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5750000 | PA      | $5813227.00   | 0.13%             | 2038-01-15      | Floating      | 10.42%                | No            |                  3 | On Loan: No      |
| BIG BUS TOURS BIDCO LIMITED                                   | Big Bus Tours Bidco Limited 2024 Term Loan B                                                  | CUSIP: 000000000<br>LEI: 213800X8KI4J15PBLJ45 | Long             | LON              | CORP              | GB        |  27053623 | PA      | $26309648.72  | 0.57%             | 2031-06-04      | Floating      | 12.41%                | No            |                  3 | On Loan: No      |
| Rome Bidco Limited                                            | Rome Bidco Limited GBP Term Loan                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |  38716753 | PA      | $53892595.47  | 1.17%             | 2027-12-23      | Floating      | 11.72%                | No            |                  3 | On Loan: No      |
| Smarsh Inc                                                    | Smarsh Inc 2022 Revolver                                                                      | CUSIP: 000000000<br>LEI: 549300DEPB8M6RR0JB42 | Long             | LON              | CORP              | US        |    765290 | PA      | $765290.22    | 0.02%             | 2029-02-16      | Floating      | 8.92%                 | No            |                  3 | On Loan: No      |
| Benefit Street Partners CLO Ltd                               | Benefit Street Partners CLO XX Ltd                                                            | CUSIP: 08182KAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7560000 | PA      | $7559712.72   | 0.16%             | 2038-10-15      | Floating      | 9.19%                 | No            |                  3 | On Loan: No      |
| NEFCO HOLDING COMPANY LLC                                     | NEFCO HOLDING COMPANY LLC                                                                     | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | EP               | CORP              | US        |       304 | NS      | $304238.00    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-39139.98    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Advisor Group Inc                                             | Advisor Group Inc 2025 Term Loan                                                              | CUSIP: 68773JAG5<br>LEI: 549300XL60BDV6UW5C86 | Long             | LON              | CORP              | US        |  15000000 | PA      | $14988900.00  | 0.32%             | 2032-07-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-20139.85    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DISCO PARENT INC                                              | Disco Parent Inc 2025 Term Loan B                                                             | CUSIP: 000000000<br>LEI: 2549003DLSZ9JWHH1Q80 | Long             | LON              | CORP              | US        |   4500000 | PA      | $4511250.00   | 0.10%             | 2032-08-06      | Floating      | 7.48%                 | No            |                  3 | On Loan: No      |
| LDS INTERMEDIATE HOLDINGS LLC                                 | LDS Intermediate Holdings LLC PIK Delayed Draw Term Loan                                      | CUSIP: 50205XAC9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5526316 | PA      | $5509928.42   | 0.12%             | 2032-02-09      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| Birch Grove CLO Ltd.                                          | Birch Grove Clo 11 Ltd                                                                        | CUSIP: 09078AAA3<br>LEI: 2549009HQHT8KMO8YJ79 | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6075000.00   | 0.13%             | 2038-01-22      | Floating      | 10.13%                | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-9810.51     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-9792.55     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-17569.86    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                   | Rad CLO 17 Ltd                                                                                | CUSIP: 75009KAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4039012.00   | 0.09%             | 2038-01-20      | Floating      | 10.58%                | No            |                  3 | On Loan: No      |
| Coreweave Compute Acquisition Co., IV, LLC                    | Coreweave Compute Acquisition Co IV LLC 2025 DDTL - 5/25 Borrowing                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    517018 | PA      | $510554.98    | 0.01%             | 2032-05-21      | Floating      | 10.21%                | No            |                  3 | On Loan: No      |
| MidOcean Credit CLO                                           | MidOcean Credit CLO XIV Ltd                                                                   | CUSIP: 59803GAC3<br>LEI: 254900KJWLNM7MIXEC65 | Long             | ABS-CBDO         | CORP              | JE        |   3375000 | PA      | $1929089.25   | 0.04%             | 2037-04-15      | Variable      | 5.21%                 | No            |                  3 | On Loan: No      |
| BIRSA SPA                                                     | Birsa SpA EUR Unitranche Term Loan                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7930818 | PA      | $9171514.27   | 0.20%             | 2031-06-30      | Floating      | 7.25%                 | No            |                  3 | On Loan: No      |
| CEVA SANTE ANIMALE                                            | Ceva Sante Animale 2025 USD Term Loan B                                                       | CUSIP: 000000000<br>LEI: 969500FG3VYTO80D0A13 | Long             | LON              | CORP              | FR        |   1970112 | PA      | $1970939.95   | 0.04%             | 2030-11-08      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| TALON MIDCO 2 LIMITED                                         | Talon MidCo 2 Limited 2025 3rd Amendment Incremental Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   2688316 | PA      | $2685707.13   | 0.06%             | 2028-08-25      | Floating      | 9.44%                 | No            |                  3 | On Loan: No      |
| OID-OL Intermediate I LLC                                     | OID-OL Intermediate I LLC Term Loan 2                                                         | CUSIP: 67089SAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5260375 | PA      | $4393517.93   | 0.10%             | 2029-02-01      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| Sinch AB                                                      | Sinch AB                                                                                      | CUSIP: 000000000<br>LEI: 549300UXY7QM6IDCGI12 | Long             | EC               | CORP              | SE        |      5304 | NS      | $17053.88     | 0.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-54976.53    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SPOTLESS BRANDS LLC                                           | SPOTLESS BRANDS LLC 2025 6TH AMENDMENT Delayed Draw Term Loan F                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11770930 | PA      | $11682648.23  | 0.25%             | 2028-07-25      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| Tolentino SpA                                                 | Tolentino SpA                                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |   1054735 | PA      | $866818.45    | 0.02%             | 2025-12-22      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Benefit Street Partners CLO Ltd                               | Benefit Street Partners CLO XXXIV Ltd                                                         | CUSIP: 081923AA2<br>LEI: 25490002NPB1AZIR3342 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4070100.00   | 0.09%             | 2037-07-25      | Floating      | 11.02%                | No            |                  3 | On Loan: No      |
| Icefall Parent Inc                                            | Icefall Parent Inc Revolver                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1239874 | PA      | $1239874.36   | 0.03%             | 2030-01-25      | Fixed         | 0.25%                 | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $148.36       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CSS HIL 2024 1 TRUST                                          | CSS HIL 2024 1 TRUST                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1741000 | PA      | $1417704.62   | 0.03%             | 2050-04-20      | Fixed         | 7.75%                 | No            |                  3 | On Loan: No      |
| 48FORTY SOLUTIONS                                             | 48FORTY SOLUTIONS                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3244 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| RealPage Inc                                                  | RealPage Inc 1st Lien Term Loan                                                               | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |   4902970 | PA      | $4889437.69   | 0.11%             | 2028-04-24      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| CSS HIL 2024 1 TRUST                                          | CSS HIL 2024 1 TRUST                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  15553638 | PA      | $15813819.83  | 0.34%             | 2050-04-20      | Fixed         | 7.00%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-9500.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD CAD                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $56.38        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NUZOA BIDCO SLU                                               | Nuzoa Bidco SLU EUR PIK CAR Term Loan                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | ES        |   4528985 | PA      | $5210913.22   | 0.11%             | 2032-06-25      | Floating      | 5.54%                 | No            |                  3 | On Loan: No      |
| Cordatus CLO PLC                                              | CVC Cordatus Loan Fund XXVI DAC                                                               | CUSIP: 000000000<br>LEI: 549300LRVU8M5FJSUL78 | Long             | ABS-CBDO         | CORP              | IE        |   4840000 | PA      | $5728392.91   | 0.12%             | 2038-01-15      | Floating      | 7.78%                 | No            |                  3 | On Loan: No      |
| ASSOCIATIONS INC                                              | Associations Inc 2024 2nd Amendment Term Loan A                                               | CUSIP: 000000000<br>LEI: 5493002YPB5JWSX8PX14 | Long             | LON              | CORP              | US        |  38919167 | PA      | $39113762.76  | 0.85%             | 2028-07-03      | Floating      | 11.08%                | No            |                  3 | On Loan: No      |
| Savor Acquisition, Inc.                                       | Savor Acquisition Inc Term Loan B                                                             | CUSIP: 80536AAB8<br>LEI: 25490051R6ZOBEBPQ519 | Long             | LON              | CORP              | US        |   2741379 | PA      | $2756374.65   | 0.06%             | 2032-02-19      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.                                              | Empower CLO 2023-2 Ltd                                                                        | CUSIP: 29247JAE0<br>LEI: 213800DM8ZNUIQ1JCN40 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2002826.00   | 0.04%             | 2038-10-15      | Floating      | 9.89%                 | No            |                  3 | On Loan: No      |
| ARDONAGH MIDCO 3 PLC                                          | Ardonagh Midco 3 PLC 2024 USD Term Loan B                                                     | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |   4975000 | PA      | $4945995.75   | 0.11%             | 2031-02-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| PCF HOLDCO, LLC                                               | PCF HOLDCO, LLC                                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     14344 | NS      | $14343928.00  | 0.31%             |  |  |  | No            |                  3 | On Loan: No      |
| BEDFORD BEVERLY B LLC                                         | Bedford Beverly B LLC Project Loan                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7451505 | PA      | $7451505.39   | 0.16%             | 2026-09-02      | Floating      | 12.13%                | No            |                  3 | On Loan: No      |
| Genesys Cloud Services Holdings II LLC                        | Genesys Cloud Services Holdings II LLC 2025 USD Term Loan B                                   | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |   8965000 | PA      | $8899645.15   | 0.19%             | 2032-01-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Sonicwall US Holdings Inc                                     | SonicWall US Holdings Inc 2023 Term Loan                                                      | CUSIP: 83547MAF4<br>LEI: 549300KJE1MHNCWBX302 | Long             | LON              | CORP              | US        |   6904899 | PA      | $6559654.51   | 0.14%             | 2028-05-18      | Floating      | 9.00%                 | No            |                  2 | On Loan: No      |
| EPICOR SOFTWARE CORPORATION                                   | Epicor Software Corporation 2024 Term Loan F                                                  | CUSIP: 29426NAZ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |  11159129 | PA      | $11167721.98  | 0.24%             | 2031-05-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED GBP / SOLD USD                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | GB        |         1 | NC      | $248.20       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dun & Bradstreet Corporation (The)                            | Dun & Bradstreet Corporation (The) 2025 Revolver                                              | CUSIP: 000000000<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |    718598 | PA      | $711411.98    | 0.02%             | 2032-08-26      | Floating      | 5.50%                 | No            |                  3 | On Loan: No      |
| MNR ABS ISSUER I LLC                                          | MNR ABS ISSUER I LLC                                                                          | CUSIP: 55317XAB5<br>LEI: 254900P5PAYARXBH9O74 | Long             | ABS-O            | CORP              | US        |   8313266 | PA      | $8687363.07   | 0.19%             | 2038-12-15      | Fixed         | 8.95%                 | No            |                  3 | On Loan: No      |
| MAGENTA SECURITY HOLDINGS LLC                                 | Magenta Security Holdings LLC 2024 Third Out Term Loan                                        | CUSIP: 55909UAG4<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |     37344 | PA      | $7437.79      | 0.00%             | 2028-07-27      | Floating      | 10.82%                | No            |                  3 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-188873.10   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD GBP                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $402.58       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Capital USA, Inc.                                   | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: 549300670K07JRB5UQ40 | N/A              | DFE              |  | US        |         1 | NC      | $-85190.18    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                              | CIFC Funding 2018-III Ltd                                                                     | CUSIP: 12552BAG7<br>LEI: 635400OB7ZCBUWDQNV87 | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | PA      | $2251878.75   | 0.05%             | 2038-10-18      | Floating      | 8.88%                 | No            |                  3 | On Loan: No      |
| NEFCO HOLDING COMPANY LLC                                     | NEFCO Holding Company LLC 2024 Incremental Term Loan                                          | CUSIP: 000000000<br>LEI: 2549001E9ZRIAUTQVH29 | Long             | LON              | CORP              | US        |   1277932 | PA      | $1277931.87   | 0.03%             | 2028-08-05      | Floating      | 9.81%                 | No            |                  3 | On Loan: No      |
| Jeg's Automotive LLC                                          | Jeg's Automotive LLC Revolver                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1101763 | PA      | $1101762.91   | 0.02%             | 2029-12-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| FPG INTERMEDIATE HOLDCO LLC                                   | FPG Intermediate Holdco LLC 2025 15th Amendment Term Loan B                                   | CUSIP: 000000000<br>LEI: 549300UYODKEPLPB3645 | Long             | LON              | CORP              | US        |      6385 | PA      | $6384.83      | 0.00%             | 2029-07-02      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| DANCE MIDCO SARL                                              | Dance Midco SA RL EUR Term Loan B1                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  38383072 | PA      | $44613034.89  | 0.97%             | 2031-08-22      | Floating      | 7.52%                 | No            |                  3 | On Loan: No      |
| Jordanes Equity AS                                            | Jordanes Equity AS NOK PIK Delayed Draw Term Loan B                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        | 166444842 | PA      | $15802965.86  | 0.34%             | 2031-11-18      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| Talon MidCo 2 Limited                                         | Talon MidCo 2 Limited Revolver                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |   3100397 | PA      | $3097387.95   | 0.07%             | 2028-08-25      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| BEDFORD BEVERLY B LLC                                         | Bedford Beverly B LLC Building Loan                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  28185520 | PA      | $28185519.51  | 0.61%             | 2026-09-02      | Floating      | 12.13%                | No            |                  3 | On Loan: No      |
| Arini European CLO                                            | Arini European CLO VI DAC                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   3730000 | PA      | $4418372.24   | 0.10%             | 2039-07-15      | Floating      | 7.83%                 | No            |                  3 | On Loan: No      |
| MATERIAL HOLDINGS LLC                                         | Material Holdings LLC 2024 Tranche B Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2740731 | PA      | $0.00         | 0.00%             | 2027-08-19      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Advanced Web Technologies Holding Company                     | Advanced Web Technologies Holding Company 2024 4th Amendment Term Loan                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1039734 | PA      | $1038490.16   | 0.02%             | 2027-12-17      | Floating      | 7.84%                 | No            |                  3 | On Loan: No      |
| Goldman Sachs Bank USA                                        | PURCHASED USD / SOLD EUR                                                                      | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-13756.59    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ZIPPY SHELL INCORPORATED                                      | ZIPPY SHELL INCORPORATED                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    100432 | NS      | $5544850.72   | 0.12%             |  |  |  | No            |                  3 | On Loan: No      |
| Arini US CLO Limited                                          | Arini US Clo II Ltd                                                                           | CUSIP: 04039DAA6<br>LEI: 2549001Z731V3ALGMH47 | Long             | ABS-CBDO         | CORP              | KY        |   8000000 | PA      | $8080496.00   | 0.17%             | 2038-03-31      | Floating      | 9.94%                 | No            |                  3 | On Loan: No      |
| ATLAS US FINCO INC                                            | Atlas US Finco Inc 2025 Incremental Term Loan                                                 | CUSIP: 000000000<br>LEI: 254900D4YTKNIYZP2J52 | Long             | LON              | CORP              | US        |  14017811 | PA      | $14030460.89  | 0.30%             | 2029-12-10      | Floating      | 9.33%                 | No            |                  3 | On Loan: No      |
| Ascend Buyer, LLC                                             | Ascend Buyer LLC 2021 Term Loan                                                               | CUSIP: 000000000<br>LEI: 25490017H0M91THI5T92 | Long             | LON              | CORP              | US        |  16200405 | PA      | $16152970.73  | 0.35%             | 2028-09-29      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| OCTAGON INVESTMENT PARTNERS 40, LTD.                          | Octagon Investment Partners 40 Ltd                                                            | CUSIP: 67592EAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  22500000 | PA      | $4382325.00   | 0.09%             | 2035-01-20      | Variable      | 1.56%                 | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-03

**Name of Applicant:** Carlyle Tactical Private Credit Fund

**Signature:** Joshua Lefkowitz

**Name of Signer:** Joshua Lefkowitz

**Title:** Chief Legal Officer