# EDGAR Filing Document

**Accession Number:** 0001586009
**File Stem:** 0001145549-23-012342
**Filing Date:** 2023-2
**Character Count:** 46366
**Document Hash:** 6b0f6b82cc56cbfad46d4eeb5b0b828b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-012342.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001145549-23-012342

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wildermuth Fund
- **CENTRAL INDEX KEY:** 0001586009
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22888
- **FILM NUMBER:** 23678997

**BUSINESS ADDRESS:**
- **STREET 1:** 818 A1A HWY N
- **STREET 2:** SUITE 301
- **CITY:** PONTE VEDRA BEACH
- **STATE:** FL
- **ZIP:** 32082
- **BUSINESS PHONE:** (678) 222-1100

**MAIL ADDRESS:**
- **STREET 1:** 818 A1A HWY N
- **STREET 2:** SUITE 301
- **CITY:** PONTE VEDRA BEACH
- **STATE:** FL
- **ZIP:** 32082

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wildermuth Endowment Fund
- **DATE OF NAME CHANGE:** 20180905

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wildermuth Endowment Strategy Fund
- **DATE OF NAME CHANGE:** 20130905

## Nport-Ex

**Wildermuth Fund** 

**Schedule of Investments**

**December 31, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Interest,**<br> **Shares, Principal,**<br> **Amount, or Units** |  | **Fair Value** |
| | **COMMODITY & NATURAL RESOURCE INVESTMENTS — 5.4%** | |
| 1000 | Casillas Petroleum Resource Partners, LLC<sup>(a)(b)(c)</sup> | $1101426 |
| 1976034 | CM Funding, LLC<sup>(a)(b)(c)(d)(e)</sup> | 1750537 |
|  | Kayne Anderson Energy Fund VII LP<sup>(a)(b)(c)(f)</sup> | 1383176 |
| 182 | Midcon Holdco Partners, LLC<sup>(a)(b)(c)</sup> | 272787 |
| 2080000 | Thunder Investment Partners, LLC<sup>(a)(c)(d)(e)</sup> | 1710214 |
|  | **TOTAL COMMODITY & NATURAL RESOURCE INVESTMENTS (Cost $7,156,122)** | **6218140** |
|  | **DIRECT PRIVATE EQUITY — 59.4%** |  |
| 41751 | Affinity Beverages, LLC<sup>(a)(b)(c)(e)</sup> | 174999 |
| 684 | Atlas Fintech Holdings Corp. - Class A Share Interests<sup>(a)(b)(c)(e)</sup> | 2637069 |
| 2500 | Clear Guide Medical, Inc. - Series A Preferred Stock<sup>(a)(b)(c)(d)(e)</sup> | 3731385 |
| 134898 | Clear Guide Medical, Inc. - Series A-2 Preferred Stock<sup>(a)(b)(c)(d)(e)</sup> | 728465 |
| 838423 | Clear Guide Medical, Inc. - Series A-3 Preferred Stock<sup>(a)(b)(c)(d)(e)</sup> | 4222021 |
| 1543074 | Clearsense, LLC - Class C Preferred Shares<sup>(a)(b)(c)(d)(e)</sup> | 10839771 |
| 835814 | Clearsense, LLC - Class D Preferred Shares<sup>(a)(b)(c)(d)(e)</sup> | 5512483 |
| 1945 | Content Management Live, LLC<sup>(a)(b)(c)(d)(e)</sup> | 1945 |
| 2074115 | DSI Digital, LLC - Common Units<sup>(a)(b)(c)(d)(e)</sup> | 3169466 |
| 5791621 | DSI Digital, LLC - Series A Convertible Preferred Units<sup>(a)(b)(c)(d)(e)</sup> | 10554178 |
|  | Level ATI HoldCo, LLC - Class A<sup>(a)(b)(c)(d)(e)</sup> | 3457137 |
| 3500000 | Metro Diner, LLC - Series B Units<sup>(a)(b)(c)(e)</sup> | 2292024 |
| 1880968 | Metro Diner, LLC - Series II Common Units<sup>(a)(b)(c)(e)</sup> | 885040 |
| 8800000 | Reach Enterprises, Inc. - Common Units<sup>(a)(b)(c)(d)(e)</sup> | 3908866 |
| 309150 | Reach Enterprises, Inc. - Series Seed-1 Preferred Units<sup>(a)(b)(c)(d)(e)</sup> | 209863 |
| 1288103 | Reach Enterprises, Inc. - Series Seed-2 Preferred Units<sup>(a)(b)(c)(d)(e)</sup> | 874414 |
| 7627254 | Waratek, Ltd. - Common Shares<sup>(a)(b)(c)(d)(e)</sup> | 8904489 |
| 635838 | Waratek, Ltd. - Series B-1<sup>(a)(b)(c)(d)(e)</sup> | 2542746 |
| 756826 | Waratek, Ltd. - Series B-2<sup>(a)(b)(c)(d)(e)</sup> | 3297648 |
|  | WG Pitts Caribbean, LLC - Common Units<sup>(a)(b)(c)(d)(e)</sup> | - |
|  | **TOTAL DIRECT PRIVATE EQUITY (Cost $48,983,159)** | **67944009** |
|  | **DIRECT REAL ESTATE — 7.0%** |  |
|  | Brookwood SFL Investor Co-Investment Vehicle, LLC<sup>(a)(b)(c)</sup> | 1569231 |
| 1800000 | LaGrange Senior Living, LLC - Class A Interests<sup>(a)(c)(d)(e)</sup> | 1980347 |
|  | Polara Builder II, LLC<sup>(a)(c)(d)(e)</sup> | 4429025 |
|  | **TOTAL DIRECT REAL ESTATE (Cost $3,959,048)** | **7978603** |
|  | **HEDGE FUNDS — 0.7%** |  |
|  | EJF Trust Preferred Fund LP<sup>(a)(c)(f)(g)</sup> | 1099 |
|  | Rosebrook Opportunities Fund LP<sup>(a)(b)(c)(d)(f)(g)</sup> | 788143 |
|  | **TOTAL HEDGE FUNDS (Cost $994,053)** | **789242** |
|  | **PRIVATE EQUITY DEBT — 17.9%** |  |
| 500000 | Clear Guide Medical, Inc. - Convertible Note, 0.50%, 2/29/2024 <sup>(a)(c)(d)(e)(h)</sup> | 500000 |
| 250000 | Clear Guide Medical, Inc. - Convertible Note, 6.00%, 11/6/2023 <sup>(a)(c)(d)(e)(h)</sup> | 250000 |
| 4685000 | DSI Digital, LLC - Convertible Note, 8.00%, 3/23/2023<sup>(a)(b)(c)(d)(e)(h)</sup> | 5325553 |
| 3925000 | Reach Enterprises, Inc. - Convertible Note, 8.00%, 4/29/2023<sup>(a)(b)(c)(d)(e)(h)</sup> | 4282616 |
| 2500000 | Reach Enterprises, Inc. - Convertible Note, 12.00%, 10/1/2023<sup>(a)(b)(c)(d)(e)(h)</sup> | 3137500 |

---

See accompanying notes to Schedule of Investments.

**Wildermuth Fund** 

**Schedule of Investments - Continued**

**December 31, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Interest,**<br> **Shares, Principal,**<br> **Amount, or Units** |  | **Fair Value** |
| | **PRIVATE EQUITY DEBT (CONTINUED)** | |
| 25000 | Reach Enterprises, Inc. - Promissory Note, 24.33%, 1/22/2023<sup>(a)(b)(c)(d)(e)(h)</sup> | 25000 |
| 2098889 | Sequin, Inc. - Convertible Note, 8.00%, 7/20/2023<sup>(a)(b)(c)(e)(h)</sup> | 2553230 |
| 250000 | Sequin, Inc. - Promissory Note, 12.00%, 3/20/2024<sup>(a)(c)(e)</sup> | 250000 |
| 2033611 | The Work Shop Limited T/A RIP Global - Convertible Note, 12.00%, 1/20/2023<sup>(a)(b)(c)(e)(h)</sup> | 2704661 |
| 2623158 | WG Pitts Caribbean, LLC - Promissory Note, 12.00%, 3/31/2023<sup>(a)(c)(d)(e)(i)</sup> | 1487208 |
|  | **TOTAL PRIVATE EQUITY DEBT (Cost $18,464,618)** | **20515768** |
|  | **PRIVATE EQUITY FUNDS — 6.1%** |  |
|  | Abbott Secondary Opportunities LP<sup>(a)(b)(c)(f)(g)</sup> | 851491 |
|  | Auda Capital SCS SICAV SIF - Auda Asia Secondary Fund<sup>(a)(b)(c)(f)(g)</sup> | 1291211 |
|  | Committed Advisors Secondary Fund III<sup>(a)(b)(c)(f)(g)</sup> | 1632659 |
|  | EJF Sidecar Fund, Series LLC - Small Financial Equities Series<sup>(a)(b)(c)(f)(g)</sup> | 469447 |
| 10 | GPB Automotive Portfolio LP<sup>(a)(b)(c)(e)(f)</sup> | 296969 |
|  | Gravity Ranch Fund I LP<sup>(a)(b)(c)(e)(f)(g)</sup> | 67065 |
|  | PineBridge Secondary Partners IV SLP<sup>(a)(b)(c)(f)(g)</sup> | 1532170 |
|  | StepStone VC Opportunities V, LP<sup>(a)(b)(c)(f)(g)</sup> | 888996 |
|  | **TOTAL PRIVATE EQUITY FUNDS (Cost $4,364,778)** | **7030008** |
|  | **PRIVATE REAL ESTATE INVESTMENTS — 6.5%** |  |
| 92075 | ARCTRUST, Inc.<sup>(a)(c)(f)</sup> | 1019275 |
|  | Cygnus Property Fund V, LLC<sup>(a)(c)(f)</sup> | 656801 |
|  | Harbert Seniors Housing Fund I LP<sup>(a)(b)(c)(f)</sup> | 1650773 |
|  | Harbert Seniors Housing Fund II LP<sup>(a)(b)(c)(f)</sup> | 2556686 |
|  | RRA Credit Opportunity Fund LP<sup>(a)(c)(d)(f)</sup> | 481603 |
| 56 | Shopoff Land Fund III LP<sup>(a)(b)(c)(f)</sup> | 23781 |
| 179795 | Stonehill Strategic Hotel Credit Opportunity Fund II LP<sup>(a)(c)(f)</sup> | 506946 |
|  | Walton Street Real Estate Fund VIII LP<sup>(a)(b)(c)(f)</sup> | 523302 |
|  | **TOTAL PRIVATE REAL ESTATE INVESTMENTS (Cost $5,471,314)** | **7419167** |
|  | **PUBLIC REAL ESTATE INVESTMENT DEBT — 0.1%** |  |
| 121157 | Cottonwood Communities, Inc. - Promissory Note, 7.00%, 1/1/2031<sup>(a)(c)(e)</sup> | 121157 |
|  | **TOTAL PUBLIC REAL ESTATE INVESTMENT DEBT (Cost $121,156)** | **121157** |
|  | **WARRANTS — 0.7%** |  |
| 44 | Atlas Fintech Holdings Corp., Exercise Price $14,950, Expiration Date 12/31/2023<sup>(a)(b)(c)(e)</sup> |  |
| 1442 | Schweizer RSG, LLC, Exercise Price $112.50, Expiration Date 1/21/2028<sup>(a)(b)(c)(e)</sup> | 1846 |
| 6410 | Sequin, Inc., Exercise Price $0.001, Expiration Date 3/30/2026<sup>(a)(b)(c)(e)</sup> |  |
| 646328 | Waratek, Ltd., Exercise Price 0.01 Euro, Expiration Date 1/22/2028<sup>(a)(b)(c)(d)(e)</sup> | 748789 |
|  | **TOTAL WARRANTS (Cost $0)** | **750635** |

---

See accompanying notes to Schedule of Investments.

**Wildermuth Fund** 

**Schedule of Investments - Continued**

**December 31, 2022 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Interest,**<br> **Shares, Principal,**<br> **Amount, or Units** |  | **Fair Value** |
| | **SHORT-TERM INVESTMENTS — 2.2%** | |
| 2548976 | Fidelity Institutional Government Portfolio - Institutional Class, 4.00%<sup>(j)</sup> | 2548976 |
|  | **TOTAL SHORT-TERM INVESTMENTS (Cost $2,548,976)** | **2548976** |
|  | **TOTAL INVESTMENTS — 106.0% (Cost $92,063,224)** | **121315705** |
|  | Liabilities less other assets — (6.0)% | (6899786) |
|  | **TOTAL NET ASSETS — 100.0%** | $**114415919** |

---

LLC – Limited Liability Company

LP – Limited Partnership

SLP – Special Limited Partnership

---

| | |
|:---|:---|
| <sup>(a)</sup> | Illiquid Security. As of December 31, 2022 these securities amounted to $118,766,729 representing 103.80% of total net assets. |
| |  |
| <sup>(b)</sup> | Non-income Producing |
| |  |
| <sup>(c)</sup> | Restricted Security. As of December 31, 2022 these securities amounted to $118,766,729 representing 103.80% of total net assets. Please refer to Investments in Restricted Securities, in the Notes to the Schedule of Investments.  |
| |  |
| <sup>(d)</sup> | Denotes an investment in an affiliated entity. Please refer to Investments in Affiliated Issuers, in the Notes to the Schedule of Investments. |
| |  |
| <sup>(e)</sup> | Level 3 security in accordance with fair value hierarchy. |
| |  |
| <sup>(f)</sup> | Private Fund. As of December 31, 2022 these securities amounted to $16,621,593 representing 14.53% of total net assets. |
| |  |
| <sup>(g)</sup> | Private Investment Company. As of December 31, 2022 these securities amounted to $7,522,281 representing 6.57% of total net assets. |
| |  |
| <sup>(h)</sup> | Payment-in-kind (PIK) security in which the issuer makes interest payments in the form of additional securities, as opposed to cash payouts. These additional securities generally have the same terms as the original holdings. |
| |  |
| <sup>(i)</sup> | Security is in default. |
| |  |
| <sup>(j)</sup> | Represents the current rate as of December 31, 2022. |

---

See accompanying notes to Schedule of Investments.

**Wildermuth Endowment Fund**

**Notes to the Schedule of Investments**

**December 31, 2022 (Unaudited)**

**Investments in Restricted Securities -** Restricted securities include securities that have not been registered under the Securities Act of 1933, as amended, and securities that are subject to restrictions on resale. The Fund may invest in restricted securities that are consistent with the Fund's investment objectives and investment strategies. Investments in restricted securities are valued at fair value as determined in good faith in accordance with procedures adopted by the Board of Trustees. It is possible that the estimated value may differ significantly from the amount that might ultimately be realized in the near term, and the difference could be material.

Additional information on each restricted security held by the Fund on December 31, 2022 is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Security** | **Initial<br> Acquisition Date**  | **Interests, Shares, Principal Amount, or Units**  | **Cost** | **Fair<br> Value** | **% of Net<br> Assets**  |
| Abbott Secondary Opportunities LP | April 13, 2017 |  | 909340 | 851491 | 0.74% |
| Affinity Beverages, LLC | February 21, 2020 | 41751 | 175000 | 174999 | 0.15% |
| ARCTRUST, Inc. | June 30, 2016 | 92075 | 1000536 | 1019275 | 0.89% |
| Atlas Fintech Holdings Corp. - Class A Share Interests | December 20, 2016 | 684 | 3126329 | 2637069 | 2.30% |
| Atlas Fintech Holdings Corp., Exercise Price $14,950, Expiration Date 12/31/2023 | December 20, 2016 | 44 | - | - | 0.00% |
| Auda Capital SCS SICAV SIF - Auda Asia Secondary Fund | April 2, 2018 |  | 398630 | 1291211 | 1.13% |
| Brookwood SFL Investor Co-Investment Vehicle, LLC | November 3, 2017 |  | 447490 | 1569231 | 1.37% |
| Casillas Petroleum Resource Partners, LLC | October 11, 2016 | 1000 | 1000000 | 1101426 | 0.96% |
| Clear Guide Medical, Inc. - Convertible Note, 0.50%, 2/29/2024 | August 15, 2022 | 500000 | 500000 | 500000 | 0.44% |
| Clear Guide Medical, Inc. - Convertible Note, 6.00%, 11/6/2023 | January 6, 2022 | 250000 | 250000 | 250000 | 0.22% |
| Clear Guide Medical, Inc. - Series A Preferred Stock | April 19, 2016 | 2500 | 2250000 | 3731385 | 3.26% |
| Clear Guide Medical, Inc. - Series A-2 Preferred Stock | March 6, 2018 | 134898 | 500000 | 728465 | 0.64% |
| Clear Guide Medical, Inc. - Series A-3 Preferred Stock | July 16, 2018 | 838423 | 3085394 | 4222021 | 3.69% |
| Clearsense, LLC - Class C Preferred Shares | February 20, 2019 | 1543074 | 6799865 | 10839771 | 9.48% |
| Clearsense, LLC - Class D Preferred Shares | April 28, 2021 | 835814 | 3000000 | 5512483 | 4.82% |
| CM Funding, LLC | December 14, 2018 | 1976034 | 1976034 | 1750537 | 1.53% |
| Committed Advisors Secondary Fund III | March 30, 2017 |  | 564847 | 1632659 | 1.43% |
| Content Management Live, LLC | December 17, 2019 | 1945 | 248200 | 1945 | 0.00% |
| Cottonwood Communities, Inc. - Promissory Note, 7.00%, 1/1/2031 | June 22, 2021 | 121157 | 121156 | 121157 | 0.11% |
| Cygnus Property Fund V, LLC | October 30, 2018 |  | 286658 | 656801 | 0.57% |
| DSI Digital, LLC - Common Units | April 26, 2021 | 2074115 | 1000000 | 3169466 | 2.77% |
| DSI Digital, LLC - Convertible Note, 8.00%, 3/23/2023 | March 24, 2021 | 4685000 | 4685000 | 5325553 | 4.66% |
| DSI Digital, LLC - Series A Convertible Preferred Units | November 29, 2017 | 5791621 | 8560000 | 10554178 | 9.23% |
| EJF Sidecar Fund, Series LLC - Small Financial Equities Series | October 25, 2017 |  | 157808 | 469447 | 0.41% |
| EJF Trust Preferred Fund LP | August 23, 2017 |  | - | 1099 | 0.00% |
| GPB Automotive Portfolio LP | March 13, 2015 | 10 | 500000 | 296969 | 0.26% |
| Gravity Ranch Fund I LP | June 13, 2017 |  | 500000 | 67065 | 0.06% |
| Harbert Seniors Housing Fund I LP | February 24, 2017 |  | 1243147 | 1650773 | 1.44% |
| Harbert Seniors Housing Fund II LP | September 10, 2019 |  | 2497168 | 2556686 | 2.23% |
| Kayne Anderson Energy Fund VII LP | September 12, 2016 |  | 1918230 | 1383176 | 1.21% |
| LaGrange Senior Living, LLC - Class A Interests | September 11, 2019 | 1800000 | 1800000 | 1980347 | 1.73% |
| Level ATI HoldCo, LLC - Class A | September 10, 2018 |  | 1690000 | 3457137 | 3.02% |
| Metro Diner, LLC - Series B Units | November 16, 2017 | 3500000 | 2276542 | 2292024 | 2.00% |
| Metro Diner, LLC - Series II Common Units | November 16, 2017 | 1880968 | 1223458 | 885040 | 0.77% |
| Midcon Holdco Partners, LLC | December 29, 2020 | 182 | 181858 | 272787 | 0.24% |
| PineBridge Secondary Partners IV SLP | September 19, 2017 |  | 940903 | 1532170 | 1.34% |
| Polara Builder II, LLC | December 26, 2019 |  | 1711558 | 4429025 | 3.87% |
| Reach Enterprises, Inc. - Common Units | August 8, 2019 | 8800000 | 2758800 | 3908866 | 3.42% |
| Reach Enterprises, Inc. - Convertible Note, 8.00%, 4/29/2023 | April 30, 2021 | 3925000 | 3925000 | 4282616 | 3.74% |
| Reach Enterprises, Inc. - Convertible Note, 12.00%, 10/1/2023 | October 2, 2020 | 2500000 | 2500000 | 3137500 | 2.74% |
| Reach Enterprises, Inc. - Promissory Note, 24.33%, 1/22/2023 | December 22, 2022 | 25000 | 25000 | 25000 | 0.02% |
| Reach Enterprises, Inc. - Series Seed-1 Preferred Units | August 5, 2020 | 309150 | 458001 | 209863 | 0.18% |
| Reach Enterprises, Inc. - Series Seed-2 Preferred Units | July 15, 2020 | 1288103 | 1526647 | 874414 | 0.76% |
| Rosebrook Opportunities Fund LP | February 2, 2017 |  | 994053 | 788143 | 0.69% |
| RRA Credit Opportunity Fund LP | December 12, 2017 |  | - | 481603 | 0.42% |
| Schweizer RSG, LLC, Exercise Price $112.50, Expiration Date 1/21/2028 | February 6, 2018 | 1442 | - | 1846 | 0.00% |
| Sequin, Inc. - Convertible Note, 8.00%, 7/20/2023 | July 22, 2020 | 2098889 | 2098889 | 2553229 | 2.23% |
| Sequin, Inc., Exercise Price $0.001, Expiration Date 3/30/2026 | March 31, 2021 | 6410 | - | - | 0.00% |
| Sequin, Inc. - Promissory Note, 12.00%, 3/20/2024 | March 31, 2021 | 250000 | 250000 | 250000 | 0.22% |
| Shopoff Land Fund III LP | April 28, 2015 | 56 | 34846 | 23781 | 0.02% |
| StepStone VC Opportunities V, LP | January 18, 2018 |  | 393250 | 888996 | 0.78% |
| Stonehill Strategic Hotel Credit Opportunity Fund II LP | July 18, 2016 | 179795 | 179795 | 506946 | 0.44% |
| The Work Shop Limited T/A RIP Global - Convertible Note, 12.00%, 1/20/2023 | July 22, 2020 | 2033611 | 2033611 | 2704661 | 2.36% |
| Thunder Investment Partners, LLC | November 2, 2018 | 2080000 | 2080000 | 1710214 | 1.49% |
| Walton Street Real Estate Fund VIII LP | May 24, 2017 |  | 229164 | 523302 | 0.46% |
| Waratek, Ltd. - Common Shares | November 24, 2021 | 7627254 | 3191374 | 8904489 | 7.80% |
| Waratek, Ltd., Exercise Price 0.01 Euro, Expiration Date 1/22/2028 | June 5, 2018 | 646328 | - | 748790 | 0.65% |
| Waratek, Ltd. - Series B-1 | June 5, 2018 | 635838 | 2990569 | 2542746 | 2.22% |
| Waratek, Ltd. - Series B-2 | December 28, 2017 | 756826 | 3696940 | 3297648 | 2.89% |
| WG Pitts Caribbean, LLC - Common Units | October 12, 2018 |  | 426040 | - | 0.00% |
| WG Pitts Caribbean, LLC - Promissory Note, 12.00%, 3/31/2023 | August 14, 2020 | 2623158 | 2197118 | 1487208 | 1.30% |
|  |  |  | $89514248 | $118766729 |  |

---

**Investments in Affiliated Issuers -** An affiliated issuer is an entity in which the Fund has ownership of at least 5% of the voting securities. Issuers that are affiliates of the Fund at period-end are noted in the Fund's Schedule of Investments. Additional security purchases and the reduction of certain security shares outstanding of existing portfolio holdings that were not considered affiliated in prior years may result in the Fund owning in excess of 5% of the outstanding shares at period-end. The table below reflects transactions during the period with entities that are affiliates as of December 31, 2022 and may include acquisitions of new investments, prior year holdings that became affiliated during the period and prior period affiliated holdings that are no longer affiliated as of period-end.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Beginning** <br> **balance** <br> **April 1, 2022** | **Purchases** <br> **or Conversions**  | **Sales** <br> **or Conversions**  | **Change in** <br> **Unrealized** <br> **Appreciation** <br> **(Depreciation)**  | **Net** <br> **Realized** <br> **Gain (Loss)**  | **Tax Basis or** <br> **Return of Capital** <br> **Adjustments**  | **Ending** <br> **Value** <br> **December 31, 2022** | **Investment** <br> **Income**  |
| Clear Guide Medical, Inc. - Convertible Note - 0.50%, 2/29/2024 | $- | $500000 | $- | $- | $- | $- | $500000 | 694 |
| Clear Guide Medical, Inc. - Convertible Note - 6.00%, 11/6/2023 | 250000 |  |  |  |  |  | 250000 | 11302 |
| Clear Guide Medical, Inc. - Series A Preferred Stock | 3731385 |  |  |  |  |  | 3731385 |  |
| Clear Guide Medical, Inc. - Series A-2 Preferred Stock | 728465 |  |  |  |  |  | 728465 |  |
| Clear Guide Medical, Inc. - Series A-3 Preferred Stock | 4222021 |  |  |  |  |  | 4222021 |  |
| Clearsense, LLC - Class C Preferred Shares | 11531511 |  |  | (691740) |  |  | 10839771 |  |
| Clearsense, LLC - Class D Preferred Shares | 5716834 |  |  | (204351) |  |  | 5512483 |  |
| CM Funding, LLC<sup>(1)</sup> | 1577560 |  |  | 172977 |  |  | 1750537 |  |
| Content Management Live, LLC<sup>(1)</sup> | 60000 |  | (50000) | (8055) |  |  | 1945 |  |
| Dog Wood Park of Northeast Florida, LLC | 350078 |  | (286793) | 31922 | (95207) |  |  | (44289) |
| DSI Digital, LLC - Common Units Units<sup>(1)</sup> | 3169466 |  |  |  |  |  | 3169466 |  |
| DSI Digital, LLC - Convertible Note, 8.00%, 3/23/2023<sup>(1)</sup> | 3377503 | 1755000 |  | 193050 |  |  | 5325553 |  |
| DSI Digital, LLC - Series A Convertible Preferred Units<sup>(1)</sup> | 10554178 |  |  |  |  |  | 10554178 |  |
| LaGrange Senior Living, LLC - Class A Interests<sup>(1)</sup> | 2109116 |  |  | (128769) |  |  | 1980347 | 162740 |
| Level ATI HoldCo, LLC - Class A<sup>(1)</sup> | 3102526 |  |  | 354611 |  |  | 3457137 |  |
| Polara Builder II, LLC<sup>(1)</sup> | 3800146 |  |  | 628879 |  |  | 4429025 | 128953 |
| Reach Enterprises, Inc. - Common Units<sup>(1)</sup> | 6083101 |  |  | (2174235) |  |  | 3908866 |  |
| Reach Enterprises, Inc. - Convertible Note - 8.00%, 4/29/2023<sup>(1)</sup> | 3001272 | 1105000 |  | 176344 |  |  | 4282616 |  |
| Reach Enterprises, Inc. - Convertible Note - 12.00%, 10/1/2023<sup>(1)</sup> | 3084744 |  |  | 52756 |  |  | 3137500 |  |
| Reach Enterprises, Inc. - Convertible Note - 12.00%, 10/1/2022<sup>(1)</sup> | 125000 |  | (125000) |  |  |  |  | 2500 |
| Reach Enterprises, Inc. - Promissory Note - 24.33%, 1/22/2023<sup>(1)</sup> |  | 25000 |  |  |  |  | 25000 |  |
| Reach Enterprises, Inc. - Series Seed-1 Preferred Units <sup>(1)</sup> | 316982 |  |  | (107119) |  |  | 209863 |  |
| Reach Enterprises, Inc. - Series Seed-2 Preferred Units <sup>(1)</sup> | 1320735 |  |  | (446321) |  |  | 874414 |  |
| Rosebrook Opportunities Fund LP<sup>(1)</sup> | 877332 |  |  |  |  | (89189) | 788143 |  |
| RRA Credit Opportunity Fund LP | 612091 |  |  | (116274) |  | (14214) | 481603 | 177375 |
| Thunder Investment Partners, LLC<sup>(1)</sup> | 1722394 |  |  | (12180) |  |  | 1710214 | 262433 |
| Waratek, Ltd. - Common Shares<sup>(1)</sup> | 8590687 |  |  | 313802 |  |  | 8904489 |  |
| Waratek, Ltd. - Series B-1<sup>(1)</sup> | 2691274 |  |  | (148528) |  |  | 2542746 |  |
| Waratek, Ltd. - Series B-2<sup>(1)</sup> | 3510838 |  |  | (213190) |  |  | 3297648 |  |
| Waratek, Ltd., Exercise Price 0.01 Euro, Expiration Date 1/22/2028<sup>(1)</sup> | 722073 |  |  | 26716 |  |  | 748789 |  |
| WG Pitts Caribbean, LLC - Common Units<sup>(1)</sup> |  |  |  |  |  |  |  |  |
| WG Pitts Caribbean, LLC - Promissory Note, 12.00%, 3/31/2023<sup>(1)</sup> | 1763130 | - | - | (275922) | - | - | 1487208 | 237162 |
|  | $88702442 | $3385000 | $(461793) | $(2575627) | $(95207) | $(103403) | $88851412 | $938870 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Affliated
investments for which ownership exceeds 25% of the Investment Fund's Capital.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** WILDERMUTH FUND

- **b. Investment Company Act file number:** 811-22888

- **c. CIK number of Registrant:** 0001586009

- **d. LEI of Registrant:** 549300UF17FOV1WHN689

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

  - **Street Address 1:** 818 A1A HWY

  - **City:** PONTE VEDRA BEACH

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 32082

  - **Telephone number:** 6782221100

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

- **a. Name of Series:** Wildermuth Fund

- **c. LEI of Series:** 549300UF17FOV1WHN689

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $127982952.54

**Total Liabilities:** $13567033.08

**Net Assets:** $114415919.46

**Cash Not Reported:** $37173.90

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -1.57%               | 0.08%                | -1.67%               |
| Class ID N/A | -1.58%               | 0.00%                | -1.77%               |
| Class ID N/A | -1.48%               | 0.07%                | -1.65%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-13265.89               | $-1758119.35                               |
| Month 2  | $0.00                    | $-186.89                                   |
| Month 3  | $-315740.88              | $-1952557.53                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ABBOTT SECONDARY OPPORTUNITIES LP   /         | ABBOTT SECONDARY OPPORTUNITIES LP   /              | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    909340 | OU      | $851490.86    | 0.74%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AFFINTY BEVERAGE LLC    /                     | AFFINTY BEVERAGE LLC    /                          | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |     41751 | OU      | $174999.32    | 0.15%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ARC PROPERTY TRUST    /                       | ARC PROPERTY TRUST    /                            | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |     92075 | OU      | $1019274.63   | 0.89%             |  |  |  | Yes           | N/A                | On Loan: No      |
| ATLAS FINTECH HOLDINGS Corp.   /              | ATLAS FINTECH HOLDINGS Corp.   /                   | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |       684 | OU      | $2637069.00   | 2.30%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ATLAS FINANCIAL WARRANTS   /                  | ATLAS FINANCIAL WARRANTS   /                       | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | PF                | US        |        44 | NC      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| AUDA ASIA SECONDARY AUDA CAPITAL   /          | AUDA ASIA SECONDARY AUDA CAPITAL   /               | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | LU        |    398630 | OU      | $1291211.00   | 1.13%             |  |  |  | Yes           | 2                  | On Loan: No      |
| BROOKWOOD SFL INVEST    /                     | BROOKWOOD SFL INVEST    /                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | RE               |  | US        |       447 | OU      | $1569230.68   | 1.37%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CASILLAS PETROLEUM RESOURCE PART LLC   /      | CASILLAS PETROLEUM RESOURCE PART LLC   /           | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |      1000 | OU      | $1101426.00   | 0.96%             |  |  |  | Yes           | 2                  | On Loan: No      |
| COTTONWOOD NOTE 7%   01/01/2031   /           | COTTONWOOD NOTE 7%   01/01/2031   /                | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |    121157 | PA      | $121157.38    | 0.11%             | 2031-01-01      | Fixed         | 7.00%                 | Yes           | 3                  | On Loan: No      |
| CLEAR GUIDE MEDICAL SERIES A-4 CONV NOTE   /  | CLEAR GUIDE MEDICAL SERIES A-4 CONV NOTE   /       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |    250000 | PA      | $250000.00    | 0.22%             | 2023-11-06      | Fixed         | 6.00%                 | Yes           | 3                  | On Loan: No      |
| CLEAR GUIDE MEDICAL SERIES A-2   /            | CLEAR GUIDE MEDICAL SERIES A-2   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    134898 | OU      | $728465.00    | 0.64%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CLEAR GUIDE MEDICAL SERIES A-3   /            | CLEAR GUIDE MEDICAL SERIES A-3   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    838423 | OU      | $4222021.00   | 3.69%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CLEAR GUIDE MEDICAL SERIES A-5   /            | CLEAR GUIDE MEDICAL SERIES A-5   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |    500000 | PA      | $500000.00    | 0.44%             | 2024-02-29      | Fixed         | 0.50%                 | Yes           | 3                  | On Loan: No      |
| CLEAR GUIDE MEDICAL    /                      | CLEAR GUIDE MEDICAL    /                           | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |      2500 | OU      | $3731385.00   | 3.26%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CLEARSENSE Series D PREFERRED   /             | CLEARSENSE Series D PREFERRED   /                  | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    835814 | OU      | $5512483.00   | 4.82%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CLEARSENSE Series C PREFERRED   /             | CLEARSENSE Series C PREFERRED   /                  | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1543074 | OU      | $10839771.01  | 9.47%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CM FUNDING LLC   /                            | CM FUNDING LLC   /                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1976034 | OU      | $1750537.00   | 1.53%             |  |  |  | Yes           | 3                  | On Loan: No      |
| COMMITTED ADVISORS    /                       | COMMITTED ADVISORS    /                            | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | NUSS              | FR        |    490628 | OU      | $1632659.48   | 1.43%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CONTENT MANAGEMENT LIVE LLC   /               | CONTENT MANAGEMENT LIVE LLC   /                    | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |      1945 | OU      | $1944.73      | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CYGNUS PROPERTY FUND LLC   /                  | CYGNUS PROPERTY FUND LLC   /                       | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    286657 | OU      | $656801.59    | 0.57%             |  |  |  | Yes           | N/A                | On Loan: No      |
| DSI DIGITAL LLC COMMON STOCK   /              | DSI DIGITAL LLC COMMON STOCK   /                   | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   2074115 | OU      | $3169466.00   | 2.77%             |  |  |  | Yes           | 3                  | On Loan: No      |
| DSI DIGITAL LLC    /                          | DSI DIGITAL LLC    /                               | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   5791621 | OU      | $10554178.00  | 9.22%             |  |  |  | Yes           | 3                  | On Loan: No      |
| DSI CONVERTIBLE NOTE CONV NOTE 03/23/2023   / | DSI CONVERTIBLE NOTE CONV NOTE 03/23/2023   /      | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |   4685000 | PA      | $5325553.00   | 4.65%             | 2023-03-23      | Fixed         | 8.00%                 | Yes           | 3                  | On Loan: No      |
| EJF SIDECAR FUND SERIES LLC   /               | EJF SIDECAR FUND SERIES LLC   /                    | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    155364 | OU      | $469447.00    | 0.41%             |  |  |  | Yes           | N/A                | On Loan: No      |
| EJF TRUST PREFERRED FUND   /                  | EJF TRUST PREFERRED FUND   /                       | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |         1 | OU      | $1099.30      | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Fidelity Government Portfolio                 | Fidelity Government Portfolio, Class Institutional | CUSIP: 316175108<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2690111 | PA      | $2690110.53   | 2.35%             |  |  |  | No            | 1                  | On Loan: No      |
| GPB AUTOMOTIVE PORTFOLIO LP   /               | GPB AUTOMOTIVE PORTFOLIO LP   /                    | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |        10 | OU      | $296968.64    | 0.26%             |  |  |  | Yes           | 3                  | On Loan: No      |
| GRAVITY RANCH    /                            | GRAVITY RANCH    /                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |       500 | OU      | $67065.00     | 0.06%             |  |  |  | Yes           | 3                  | On Loan: No      |
| StepStoneVC Opp V LP    /                     | StepStoneVC Opp V LP    /                          | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    393250 | OU      | $888996.00    | 0.78%             |  |  |  | Yes           | N/A                | On Loan: No      |
| HARBERT SENIORS HOUSING FUND   /              | HARBERT SENIORS HOUSING FUND   /                   | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1188244 | OU      | $1650772.71   | 1.44%             |  |  |  | Yes           | N/A                | On Loan: No      |
| HARBERT SENIORS II HOUSING FUND   /           | HARBERT SENIORS II HOUSING FUND   /                | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   2497167 | OU      | $2556686.09   | 2.23%             |  |  |  | Yes           | N/A                | On Loan: No      |
| KAYNE ANDERSON ENERGY FUND   /                | KAYNE ANDERSON ENERGY FUND   /                     | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   2086110 | OU      | $1383176.00   | 1.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| LAGRANGE SENIOR LIVING LLC   /                | LAGRANGE SENIOR LIVING LLC   /                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | RE               |  | US        |   1800000 | OU      | $1980347.00   | 1.73%             |  |  |  | Yes           | 3                  | On Loan: No      |
| LEVEL ATI HOLDCO LLC CLASS A   /              | LEVEL ATI HOLDCO LLC CLASS A   /                   | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |      1690 | OU      | $3457137.00   | 3.02%             |  |  |  | Yes           | 3                  | On Loan: No      |
| METRO DINER COMMON II SHARES   /              | METRO DINER COMMON II SHARES   /                   | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1880968 | OU      | $885040.00    | 0.77%             |  |  |  | Yes           | 3                  | On Loan: No      |
| METRO DINER LLC SERIES B PREFERED SH   /      | METRO DINER LLC SERIES B PREFERED SH   /           | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   3500000 | OU      | $2292024.00   | 2.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| MIDCON HOLDCO PART    /                       | MIDCON HOLDCO PART    /                            | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |       182 | OU      | $272787.00    | 0.24%             |  |  |  | Yes           | 2                  | On Loan: No      |
| POLARA BUILDER 2 LLC PIB STORAGE OWNERS   /   | POLARA BUILDER 2 LLC PIB STORAGE OWNERS   /        | CUSIP: 999999999<br>LEI: N/A                  | Long             | RE               |  | US        |   1711558 | OU      | $4429025.00   | 3.87%             |  |  |  | Yes           | 3                  | On Loan: No      |
| PINEBRIDGE SECONDARY PARTNERS IV   /          | PINEBRIDGE SECONDARY PARTNERS IV   /               | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | LU        |    931426 | OU      | $1532170.00   | 1.34%             |  |  |  | Yes           | N/A                | On Loan: No      |
| REACH ENTERPRISES COMMON STOCK   /            | REACH ENTERPRISES COMMON STOCK   /                 | CUSIP: 999999999<br>LEI: 5967007LIEEXZXK7FS45 | Long             |  | PF                | US        |   8800000 | OU      | $3908866.00   | 3.42%             |  |  |  | Yes           | 3                  | On Loan: No      |
| REACH PROMISE NOTE 12/22/22   /               | REACH PROMISE NOTE 12/22/22   /                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |     25000 | PA      | $25000.00     | 0.02%             | 2023-01-22      | Fixed         | 24.33%                | Yes           | 3                  | On Loan: No      |
| REACH SECURED NOTE 8%   /                     | REACH SECURED NOTE 8%   /                          | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |   3925000 | PA      | $4282616.00   | 3.74%             | 2023-04-29      | Fixed         | 8.00%                 | Yes           | 3                  | On Loan: No      |
| REACH SECURED NOTE 12% 10/1/2023   /          | REACH SECURED NOTE 12% 10/1/2023   /               | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |   2500000 | PA      | $3137500.00   | 2.74%             | 2023-10-01      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| REACH SEED PREFERRED SHARES   /               | REACH SEED PREFERRED SHARES   /                    | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    309150 | OU      | $209863.00    | 0.18%             |  |  |  | Yes           | 3                  | On Loan: No      |
| REACH SEED    /                               | REACH SEED    /                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   1288103 | OU      | $874414.00    | 0.76%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ROSEBROOK OPP FUND    /                       | ROSEBROOK OPP FUND    /                            | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    994054 | OU      | $788143.00    | 0.69%             |  |  |  | Yes           | N/A                | On Loan: No      |
| RRA CREDIT OPPORTUNITY FUND LP   /            | RRA CREDIT OPPORTUNITY FUND LP   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |         1 | OU      | $481602.61    | 0.42%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SCHWEIZER RSG WARRANTS   /                    | SCHWEIZER RSG WARRANTS   /                         | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | PF                | US        |      1442 | NC      | $1845.76      | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| SEQUIN CONV NOTE 8.000% 7/20/2023   /         | SEQUIN CONV NOTE 8.000% 7/20/2023   /              | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |   2098889 | PA      | $2553229.46   | 2.23%             | 2023-07-20      | Fixed         | 8.00%                 | Yes           | 3                  | On Loan: No      |
| SEQUIN PROM NOTE 12% 3/20/2024   /            | SEQUIN PROM NOTE 12% 3/20/2024   /                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |    250000 | PA      | $250000.00    | 0.22%             | 2024-03-20      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| SEQUIN WARRANTS   /                           | SEQUIN WARRANTS   /                                | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | PF                | US        |      6410 | NC      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| SHOPOFF LAND FUND III LP   /                  | SHOPOFF LAND FUND III LP   /                       | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |        56 | OU      | $23781.36     | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| STONEHILL STRATEGIC HOTEL CREDIT OPP FUN   /  | STONEHILL STRATEGIC HOTEL CREDIT OPP FUN   /       | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    179795 | OU      | $506946.07    | 0.44%             |  |  |  | Yes           | N/A                | On Loan: No      |
| THUNDER INVESTMENT PARTNERES LLC   /          | THUNDER INVESTMENT PARTNERES LLC   /               | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |   2080000 | OU      | $1710214.00   | 1.49%             |  |  |  | Yes           | 3                  | On Loan: No      |
| WALTON REAL ESTATE FUND VIII L.P   /          | WALTON REAL ESTATE FUND VIII L.P   /               | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |      3648 | OU      | $523302.17    | 0.46%             |  |  |  | Yes           | N/A                | On Loan: No      |
| WARATEK, Ltd. COMMON SHARES   /               | WARATEK, Ltd. COMMON SHARES   /                    | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | NUSS              | IE        |   7627254 | OU      | $8904488.79   | 7.78%             |  |  |  | Yes           | 3                  | On Loan: No      |
| WARATEK, Ltd. SERIES B-1   /                  | WARATEK, Ltd. SERIES B-1   /                       | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | NUSS              | IE        |    635838 | OU      | $2542746.00   | 2.22%             |  |  |  | Yes           | 3                  | On Loan: No      |
| WARATEK, Ltd. SERIES B-2   /                  | WARATEK, Ltd. SERIES B-2   /                       | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | NUSS              | IE        |    756826 | OU      | $3297647.81   | 2.88%             |  |  |  | Yes           | 3                  | On Loan: No      |
| WARATEK, Ltd. WARRANTS   /                    | WARATEK, Ltd. WARRANTS   /                         | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | NUSS              | IE        |    646328 | NC      | $748789.75    | 0.65%             |  |  |  | Yes           | 3                  | On Loan: No      |
| WG PITTS LLC    /                             | WG PITTS LLC    /                                  | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | PF                | US        |    426036 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CARRIBBEAN NOTE 2-A 12% 03/31/2023   /        | CARRIBBEAN NOTE 2-A 12% 03/31/2023   /             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | US        |   2623158 | PA      | $1487208.10   | 1.30%             | 2023-03-31      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| THE WORK SHOP LIMIT CONV NTE 12% 1/20/23   /  | THE WORK SHOP LIMIT CONV NTE 12% 1/20/23   /       | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | PF                | NZ        |   2033611 | PA      | $2704661.00   | 2.36%             | 2023-01-20      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |

### Signature

**Date Signed:** 2023-01-17

**Name of Applicant:** WILDERMUTH FUND

**Signature:** /s/ Candice Lightfoot

**Name of Signer:** Candice Lightfoot

**Title:** Chief Operating Officer