# EDGAR Filing Document

**Accession Number:** 0001599858
**File Stem:** 0001193125-26-212575
**Filing Date:** 2026-5
**Character Count:** 11454
**Document Hash:** 0fcda6ff21db54e028abb276c04eaa2c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-212575.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001193125-26-212575

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Diameter Dynamic Credit Fund
- **CENTRAL INDEX KEY:** 0002067955

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

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95665
- **FILM NUMBER:** 26955251

**BUSINESS ADDRESS:**
- **STREET 1:** C/O DIAMETER CAPITAL PARTNERS LP
- **STREET 2:** 50 HUDSON YARDS, SUITE 6600A
- **CITY:** NEW YORK
- **STATE:** NY
- **BUSINESS PHONE:** (212) 655-1419

**MAIL ADDRESS:**
- **STREET 1:** C/O DIAMETER CAPITAL PARTNERS LP
- **STREET 2:** 50 HUDSON YARDS, SUITE 6600A
- **CITY:** NEW YORK
- **STATE:** NY
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Michael & Susan Dell Foundation
- **CENTRAL INDEX KEY:** 0001599858

**ORGANIZATION NAME:**
- **EIN:** 364342774
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** C/O DFO MANAGEMENT, LLC
- **STREET 2:** 550 MADISON AVENUE, 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 303-1650

**MAIL ADDRESS:**
- **STREET 1:** C/O DFO MANAGEMENT, LLC
- **STREET 2:** 550 MADISON AVENUE, 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**Diameter Dynamic Credit Fund**

*(Name of Issuer)*

**Class I Shares**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**C. Alex Bahn**<br>Vinson & Elkins LLP, 2200 Pennsylvania<br>Avenue, NW, Suite 500 West<br>Washington DC 20037<br>202-639-6695

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**04/24/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Michael & Susan Dell Foundation** | Name of reporting person<br>**Michael & Susan Dell Foundation** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**27648236.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**27648236.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**27648236.00** | Aggregate amount beneficially owned by each reporting person<br>**27648236.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**80.9%** | Percent of class represented by amount in Row (11)<br>**80.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Michael S. Dell** | Name of reporting person<br>**Michael S. Dell** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**27648236.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**27648236.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**27648236.00** | Aggregate amount beneficially owned by each reporting person<br>**27648236.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**80.9%** | Percent of class represented by amount in Row (11)<br>**80.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Susan Lieberman Dell** | Name of reporting person<br>**Susan Lieberman Dell** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**27648236.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**27648236.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**27648236.00** | Aggregate amount beneficially owned by each reporting person<br>**27648236.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**80.9%** | Percent of class represented by amount in Row (11)<br>**80.9%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class I Shares

**(b) Name of Issuer:**
Diameter Dynamic Credit Fund

**(c) Address of Issuer's Principal Executive Offices:**
50 Hudson Yards, Suite 6600A, New York, NY, 10001

**Item 4. Purpose of Transaction**

The material in Item 3 is incorporated by reference herein.

On April 24, 2026, the Foundation acquired 27,648,236 of the Issuer's Class I shares pursuant to a subscription agreement with the Issuer dated April 24, 2026.

The Reporting Persons acquired the securities described in this Schedule 13D for investment purposes and intend to review such investment in the Issuer on a continuing basis. Any actions the Reporting Persons might undertake may be made at any time and from time to time without prior notice and will be dependent upon the Reporting Persons' review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuer's business, financial condition, operations and prospects; price levels of the Issuer's securities; general market, industry and economic conditions; the relative attractiveness of alternative business and investment opportunities; and other future developments. The Reporting Persons may acquire additional securities of the Issuer, or retain or sell all or a portion of the securities then held. Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or would result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although, depending on the factors discussed herein, the Reporting Persons may change their purpose or formulate different plans or proposals with respect thereto at any time.

**Item 5. Interest in Securities of the Issuer**

**(a)**
As of the date hereof, the Reporting Persons beneficially own 27,648,236 of the Issuer's Class I shares, representing 80.9% of the Issuer's outstanding Class I shares.

**(b)**
The information contained in rows 7, 8, 9, 10, 11, 12 and 13 on the cover page of this Schedule 13D and the information set forth or incorporated in Item 2 is incorporated by reference in its entirety into this Item 5.

**(c)**
Except as described in Items 3 and 4, the Reporting Persons have not effected any transactions in the securities covered by this statement during the past 60 days.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Not applicable.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Michael & Susan Dell Foundation

**Signature:** /s/ Marc R. Lisker

**Name/Title:** Marc R. Lisker/Treasurer

**Date:** 05/07/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Michael S. Dell

**Signature:** /s/ Marc R. Lisker

**Name/Title:** Marc R. Lisker/Attorney-in-Fact

**Date:** 05/07/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Susan Lieberman Dell

**Signature:** /s/ Marc R. Lisker

**Name/Title:** Marc R. Lisker/Attorney-in-Fact

**Date:** 05/07/2026