# EDGAR Filing Document

**Accession Number:** 0001810256
**File Stem:** 0001193125-26-069319
**Filing Date:** 2026-2
**Character Count:** 116208
**Document Hash:** 0ea60e2bf403e951b9a9914d16b8ed35
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-069319.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0001193125-26-069319

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bow River Capital Evergreen Fund
- **CENTRAL INDEX KEY:** 0001810256

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23566
- **FILM NUMBER:** 26675252

**BUSINESS ADDRESS:**
- **STREET 1:** 205 DETROIT STREET
- **STREET 2:** SUITE 800
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206
- **BUSINESS PHONE:** (303) 861-8466

**MAIL ADDRESS:**
- **STREET 1:** 205 DETROIT STREET
- **STREET 2:** SUITE 800
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Bow River Capital Evergreen Private Equity Fund
- **DATE OF NAME CHANGE:** 20200421

## Nport-Ex

**Bow River Capital Evergreen Fund**

**Consolidated Schedule of Investments**

**December 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
|  | Value |
| **Private Investments - 87.3%** |  |
| &nbsp;&nbsp;&nbsp;**Direct Investments - 46.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Credit - 3.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Opportunistic - 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CL-EA Co-Investment Opportunities I, LP, 10.42% (SOFR1M + 6.50%), 12/31/2029, principal $3,000,000<sup>(1),(2)</sup> | $6217265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palmer Square Loan Funding 2021-3, Ltd.<sup>(1)</sup> | 203995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sand Trust Series 21-1A - Class SUB, 10/15/2034<sup>(1),(2)</sup> | 570000 |
|  | 6991260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Senior Credit - 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AP DSB Co-Invest II, LP<sup>(1),(2),(4)</sup> | 513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ClearScale, LLC T/L A, 12.57% (SOFR1M + 8.75%), 11/19/2025, principal $1,003,116<sup>(1),(3)</sup> | 995028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corsair Blade IV (Luxembourg) S.a.r.l., 8.03% (EurlBOR3M + 6.00%, principal EUR 1,004,293) and 9.97% (SONIA + 6.00%, principal GBP 2,214,393), 4/22/2031<sup>(1),(3)</sup> | 4542795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digital Alpha Solutions Fund, LP, 13.85% (SOFR3M + 9.50% PIK + 4.35%)<sup>(1),(2)</sup> | 4451425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pathstone Family Office, LLC, 9.02% (SOFR1M + 5.00% + CSA), 5/19/2029, principal $2,322,570<sup>(1),(3)</sup> | 2894080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VCPF III Co-Invest 1-A, LP<sup>(1),(2)</sup> | 2917445 |
|  | 15801286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subordinated Credit - 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eagle Point Co-Invest II, LP<sup>(1),(3)</sup> | 3585812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eagle Point SRT Co-Invest I, LP, 10.03% (EurlBOR3M + 8.00%), 9/26/2031, principal EUR 6,250,000<sup>(1),(3),(5)</sup> | 3794508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PARIOU SLP, 8.00% PIK, 10/31/2030, principal EUR 5,208,720<sup>(1),(2)</sup> | 6118544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Polaris Newco, 13.45% (SOFR3M + 9.00% + CSA, 1.00% Floor), 6/3/2029, principal $2,150,195<sup>(1),(3)</sup> | 2069563 |
|  | 15568427 |
|  | 38360973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Equity - 43.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Buyout - 40.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACP Hyperdrive Co-Invest, LLC<sup>(1),(2),(4)</sup> | 2507341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AE Co-Investment Partners Fund III-R, LP<sup>(1),(3),(4)</sup> | 12056039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alpine Investors Iceman CV[-A], LP<sup>(1),(2),(4),(6)</sup> | 11440037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AP DSB Co-Invest II, LP<sup>(1),(2),(4)</sup> | 3986830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AP Goat Co-Invest, LP<sup>(1),(2),(4)</sup> | 4480050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beekeeper TopCo<sup>(1),(3),(4)</sup> | 5000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biloxi Co-Investment Partners, LP<sup>(1),(2),(4)</sup> | 2448884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Butterfly Nourish Co-Invest, LP<sup>(1),(2),(4)</sup> | 11920853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BW Colson Co-Invest Feeder (Cayman), LP<sup>(1),(2),(4)</sup> | 6162744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BW Phoenix Co-Invest, LP<sup>(1),(2),(4)</sup> | 12614621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carlyle Riser Co-Investment, LP<sup>(1),(2),(4)</sup> | 1510912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CF24XB SCSp<sup>(1),(3),(4)</sup> | 11519337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CIP IX Co-Investment Vehicle 2, LP<sup>(1),(2),(4)</sup> | 10551746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation 2022, LP<sup>(1),(2),(4)</sup> | 5087324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corsair Amore Investors, LP<sup>(1),(3),(4),(6)</sup> | 2252681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corsair Riva Munich Co-Investment, LP<sup>(1),(2),(4)</sup> | 9242826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coyote 2021, LP<sup>(1),(2),(4)</sup> | 10117979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DSG Group Holdings, LP<sup>(1),(3),(4)</sup> | 10417064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enak Aggregator, LP<sup>(1),(2),(4)</sup> | 4309191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ethos Capital Digital Infrastructure GP, LP<sup>(1),(3),(4)</sup> | 18606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Falcon Co-Investment Partners, LP<sup>(1),(2),(4)</sup> | 3090078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Reserve Ascent Opportunities Feeder Fund, LP<sup>(1),(3),(4),(7)</sup> | 7073247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H.I.G. Starlite-B Co-Investment, LP<sup>(1),(2),(4)</sup> | 7684203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hg Vega Co-Invest, LP<sup>(1),(2),(4)</sup> | 9721010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ISH Co-Investment Aggregator, LP<sup>(1),(2),(4)</sup> | 2306581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IvyRehab Holdings, LLC<sup>(1),(3),(4),(6)</sup> | 11075873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KKR Game Changer Co-Invest, LP<sup>(1),(3),(4),(6)</sup> | 8400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LH Equity Investors, LP<sup>(1),(3),(4)</sup> | 20293988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LJ Ranger Co-Invest, LP<sup>(1),(3),(4),(7)</sup> | 9692598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NCS Investment, LP<sup>(1),(2),(4),(6)</sup> | 5057174 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OceanSound Partners Co-Invest II, LP - Series B<sup>(1),(2),(4)</sup> | 12237080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OceanSound Partners Co-Invest II, LP - Series E<sup>(1),(2),(4),(6)</sup> | 13318391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OceanSound SMX Continuation Fund, LP<sup>(1),(2),(4),(6)</sup> | 9668040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Onex OD Co-Invest, LP<sup>(1),(2),(4)</sup> | 3450775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OSP Co-Invest II, LP<sup>(1),(2),(4),(6)</sup> | 11555330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palms Co-Investment Partners, LP<sup>(1),(2),(4)</sup> | 4311308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Project Stream Co-Invest Fund, LP<sup>(1),(2),(4)</sup> | 2153482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PS Co-Invest II, LP<sup>(1),(3),(4),(7)</sup> | 3085700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PSC Tiger, LP<sup>(1),(2),(4)</sup> | 10176633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QHP Sapphire SPV, LP<sup>(1),(3),(4)</sup> | 17451645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SANCY SLP<sup>(1),(2),(4)</sup> | 1667693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SCPCV-A, LP<sup>(1),(2),(4)</sup> | 7127163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEP Hamilton III Aggregator, LP<sup>(1),(2),(4)</sup> | 4842800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEP Skyhawk Fund III Aggregator II, LP<sup>(1),(2),(4)</sup> | 550991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEP Skyhawk Fund III Aggregator, LP<sup>(1),(2),(4)</sup> | 395476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silver Lake Strategic Investors VI, LP<sup>(1),(2),(4)</sup> | 7058559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soundcore Fund III REPCI-A, LP<sup>(1),(3),(4),(7)</sup> | 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soundcore Fund III RR CI-A, LP<sup>(1),(3),(4)</sup> | 4978100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soundcore Fund III TS CI-A, LP<sup>(1),(3),(4)</sup> | 3000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sprinkler 2024 Co-Investment I (Feeder) SCSp<sup>(1),(2),(4)</sup> | 15628832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T6 Co-Invest B, LP<sup>(1),(3),(4)</sup> | 8144453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TCV Beat Co., LP<sup>(1),(2),(4)</sup> | 9159898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TPG IX Evergreen Cl 1, LP<sup>(1),(2),(4)</sup> | 12542787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tracer Investors Co-Invest, LP<sup>(1),(3),(4)</sup> | 9600000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Truelink Alpine, LP<sup>(1),(2),(4)</sup> | 9118711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VCF Compass Co-Investor Holdings II, LP<sup>(1),(2),(4)</sup> | 1001050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VCF Compass Co-Investor Holdings, LP<sup>(1),(2),(4)</sup> | 8344709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Veregy Parent, LLC<sup>(1),(3),(4)</sup> | 5798295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistage Equity Investors, LP<sup>(1),(2),(4)</sup> | 10919052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wildcat 21 Co-Invest Fund, LP<sup>(1),(2),(4)</sup> | 3645197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WP Gateway Co-Invest, LP<sup>(1),(2),(4)</sup> | 6122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yorkville Partners, LP<sup>(1),(2),(4)</sup> | 13291389 |
|  | 449269478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Growth Equity - 2.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheetah Investment Holdings-A LLC<sup>(1),(3),(4),(7)</sup> | 11972075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ion Pacific Ostrich Echo, LLC<sup>(1),(3),(4)</sup> | 3151015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVP Olipop, LLC<sup>(1),(3),(4)</sup> | 1461848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pinegrove Opportunity Partners I Gold Co-Invest<sup>(1),(3),(4),(7)</sup> | 5074083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WestCap Cerebral Co-Invest 2021, LLC<sup>(1),(2),(4),(6)</sup> | 61215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WestCap LoanPal Co-Invest 2020, LLC<sup>(1),(3),(4),(6)</sup> | 2372496 |
|  | 24092732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Venture - 0.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVP Mars Co-Invest, LP<sup>(1),(3),(4),(7)</sup> | 7051264 |
|  | 480413474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Direct Investments (Cost $361,334,306) | 518774447 |
| &nbsp;&nbsp;&nbsp;**Primary Funds - 15.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Credit - 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Opportunistic - 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lynx EBO Fund I (A), LLC<sup>(1),(2),(4)</sup> | 23690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Senior Credit - 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ashgrove Specialty Lending Fund I SCSp RAIF<sup>(1),(2),(4)</sup> | 973548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ashgrove Specialty Lending Fund II<sup>(1),(2),(4)</sup> | 663561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coller Credit Opportunities I - B, LP<sup>(1),(2)</sup> | 3377997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Onex Structured Credit Opportunities International Fund I, LLC<sup>(1),(2)</sup> | 373078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TKO Fund<sup>(1),(2),(4)</sup> | 2062775 |
|  | 7450959 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subordinated Credit - 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl Asset Special Opportunities IX GP, LP<sup>(1),(3),(4),(7)</sup> | 7089670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eagle Point Enhanced Income Fund US, LP<sup>(1),(3),(4)</sup> | 7477473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PBN II-A Equity Holdings, LP<sup>(1),(3),(4)</sup> | 641621 |
|  | 15208764 |
|  | 22683413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Equity - 12.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Buyout - 8.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avista Capital Partners V, LP<sup>(1),(2),(4)</sup> | 4658980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Dynamics Global Secondaries VI, LP<sup>(1),(2),(4)</sup> | 824146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dawson Portfolio Finance 4, LP<sup>(1),(2),(4),(7)</sup> | 3324140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dawson Portfolio Finance 5, LP<sup>(1),(2),(4),(7)</sup> | 4948955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ethos Capital Investments, LP<sup>(1),(2),(4)</sup> | 4324427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FFL Capital Partners V, LP<sup>(1),(2),(4),(7)</sup> | 9656721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gridiron Capital Fund V, LP<sup>(1),(2),(4)</sup> | 5022110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICG LP Secondaries Fund I, LP<sup>(1),(2),(4)</sup> | 3120606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OceanSound Partners Fund II, LP<sup>(1),(2),(4),(7)</sup> | 7786965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OceanSound Partners Fund, LP<sup>(1),(2),(4),(7)</sup> | 5858642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Fund XIV Offshore, LP<sup>(1),(2),(4)</sup> | 1379162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sheridan Capital Partners Fund III, LP<sup>(1),(2),(4),(6)</sup> | 4602542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SK Capital Partners VI-A, LP<sup>(1),(2),(4)</sup> | 8765276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soundcore Capital Partners Fund III-A<sup>(1),(3),(4)</sup> | 3360222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sumeru Equity Partners Fund III, LP<sup>(1),(2),(4)</sup> | 2667726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sumeru Equity Partners Fund IV, LP<sup>(1),(2),(4)</sup> | 2814911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Triton Fund 6 SCSp<sup>(1),(3),(4)</sup> | 899150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Truelink Capital Fund I-A, LP<sup>(1),(2),(4)</sup> | 10439135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valeas Capital Partners Fund I, LP<sup>(1),(2),(4),(7)</sup> | 12511365 |
|  | 96965181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Growth Equity - 3.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ion Pacific Stonecutter III (Cayman), LP<sup>(1),(3),(4)</sup> | 2381327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Vintage Partners Fund I, LP<sup>(1),(2),(4),(6)</sup> | 5646113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pinegrove Opportunity Partners I, LP<sup>(1),(3),(4),(7)</sup> | 6376848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prysm Capital Fund II, LP<sup>(1),(3),(4),(7)</sup> | 15460860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WestCap Strategic Operator Fund II, LP<sup>(1),(2),(4)</sup> | 6116066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WestCap Strategic Operator U.S. Feeder Fund, LP<sup>(1),(3),(4)</sup> | 6461313 |
|  | 42442527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Opportunistic - 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grain Spectrum Holdings III (Cayman), LP<sup>(1),(2),(4)</sup> | 3865257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Real Assets - 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EnCap Energy Transition Fund 1-A, LP<sup>(1),(2),(4)</sup> | 925403 |
|  | 144198368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Primary Funds (Cost $112,543,417) | 166881781 |
| &nbsp;&nbsp;&nbsp;**Private Investment Funds - 4.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liquid - 3.8%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bright Meadow Agency MBS Onshore Fund, LP<sup>(1),(2),(4)</sup> | 8288400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ruffer Absolute Institutional, Ltd.<sup>(1),(2),(4)</sup> | 7427941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saba Capital Carry Neutral Tail Hedge Offshore Fund, Ltd.<sup>(1),(2),(4)</sup> | 8809744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voleon Composition International Fund<sup>(1),(2),(4)</sup> | 12761474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voloridge Fund, LP<sup>(1),(2),(4)</sup> | 4937818 |
|  | 42225377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Senior Credit - 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PIMCO DSCO Fund II Offshore Feeder, LP<sup>(1),(2),(4)</sup> | 6101423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Private Investment Funds (Cost $43,877,127) | 48326800 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Secondary Funds - 21.6%** | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Credit - 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Senior Credit - 1.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AG DLI IV (Unlevered), LP<sup>(1),(2),(4)</sup> | 9674165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BRCE SPV I, LLC<sup>(1),(3),(4)</sup> | 153300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brightwood U.S. Credit Fund, LP<sup>(1),(2)</sup> | 2329533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coller Credit Opportunities I - Annex I, SLP<sup>(1),(2)</sup> | 1259623 |
|  | 13416621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subordinated Credit - 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCS Co-Investment Vehicle I, LP<sup>(1),(2),(4)</sup> | 4800486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCS Co-Investment Vehicle 2 (Feeder), LP<sup>(1),(2),(4)</sup> | 13297104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coller Capital CBL Fund II<sup>(1),(2),(4)</sup> | 3117713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRG Partners III - Parallel Fund (A), LP<sup>(1),(2),(4)</sup> | 1704760 |
|  | 22920063 |
|  | 36336684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Equity - 18.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Buyout - 16.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street 2009 Direct Fund, LP<sup>(1),(2),(4)</sup> | 19249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street 2010 Direct Fund, LP<sup>(1),(2),(4)</sup> | 27122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street 2011 Direct Fund, LP<sup>(1),(2),(4)</sup> | 37973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street 2011 Non-U.S. Developed Markets Fund, LP<sup>(1),(2),(4)</sup> | 120543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street 2011 U.S. Fund, LP<sup>(1),(2),(4)</sup> | 197759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street 2013 Global Fund, LP<sup>(1),(2),(4)</sup> | 1414779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street 2014 Global Fund, LP<sup>(1),(2),(4)</sup> | 803882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street Partnership Fund 2009 Non-U.S. Developed Markets Fund, LP<sup>(1),(2),(4)</sup> | 61132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street Partnership Fund 2009 U.S. Fund, LP<sup>(1),(2),(4)</sup> | 133561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street Partnership Fund 2010 Non-U.S. Developed Markets Fund, LP<sup>(1),(2),(4)</sup> | 88168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adams Street Partnership Fund 2010 U.S. Fund, LP<sup>(1),(2),(4)</sup> | 186728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alchemy Special Opportunities Fund II, LP<sup>(1),(2),(4)</sup> | 1049221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Altor Fund IV (No. 1) AB<sup>(1),(2),(4)</sup> | 5167171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASP (Feeder) 2017 Global Fund, LP<sup>(1),(2),(4)</sup> | 1011978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Wolf Capital Fund IV, LP<sup>(1),(2),(4)</sup> | 4466947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brentwood Associates Private Equity VI, LP<sup>(1),(2),(4)</sup> | 2997620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coller International Partners VI Feeder Fund, LP - Class A<sup>(1),(2),(4)</sup> | 119896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coller International Partners VII Feeder Fund, LP - Series B<sup>(1),(2),(4)</sup> | 1358657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Secondaries Special Opportunities II B, S.C.S.<sup>(1),(2),(4)</sup> | 3447712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Secondaries Special Opportunities II, S.C.S.<sup>(1),(2),(4)</sup> | 8692691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gasherbrum Fund II, LP<sup>(1),(2),(4)</sup> | 6377976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Infrastructure Partners III-A/B, LP<sup>(1),(3),(4),(7)</sup> | 2624725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graphite Capital Partners VIII D, LP<sup>(1),(3),(4)</sup> | 2773878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICG Europe Fund VII Feeder SCSp<sup>(1),(2),(4)</sup> | 4414066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICG Ludgate Hill IV-A Leopard, LP<sup>(1),(2),(4)</sup> | 5195108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KH Aggregator, LP<sup>(1),(2),(4)</sup> | 3664647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leeds Equity Partners VI, LP<sup>(1),(2),(4)</sup> | 3506722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leeds Equity Partners VII-A, LP<sup>(1),(2),(4)</sup> | 5080435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Onex Fund V, LP<sup>(1),(2),(4)</sup> | 7545115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay 2025 Fund Aggregator (AIV V) - Annual Series<sup>(1),(3),(4),(7)</sup> | 9450000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay 2025 Fund (International), LP<sup>(1),(3),(4)</sup> | 8729723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Capital Partners 2023 Fund Aggregator, LP<sup>(1),(2),(4)</sup> | 11708953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Capital Partners 2024 Fund Aggregator (AIV VII), LP<sup>(1),(2),(4)</sup> | 22829538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Capital Partners 2024 Fund Aggregator (AIV VI) II, LP<sup>(1),(2),(4)</sup> | 13660377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Fund XIV (AIV III), LP<sup>(1),(2),(4)</sup> | 813219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Fund XIV Offshore (AIV), LP<sup>(1),(2),(4)</sup> | 1831754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Porcupine Holdings, LP - Class A<sup>(1),(2),(4)</sup> | 2560442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Porcupine Holdings, LP - Class B<sup>(1),(2),(4)</sup> | 1591025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resolute Fund IV, LP<sup>(1),(2),(4)</sup> | 3288260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resolute III Continuation Fund, LP<sup>(1),(2),(4)</sup> | 8686276 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEP Hamilton, LP<sup>(1),(3),(4),(6)</sup> | 1037197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistria Agua CV, LP<sup>(1),(3),(4),(7)</sup> | 20168039 |
|  | 178940264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Growth Equity - 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ion Pacific Succession SCSp<sup>(1),(3),(4)</sup> | 4809534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVP Monogram Co-Invest, LP<sup>(1),(2),(4),(7)</sup> | 12936280 |
|  | 17745814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Real Assets - 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Infrastructure Partners II-C, LP<sup>(1),(2),(4)</sup> | 242999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subordinated Credit - 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RREF III Debt Domestic Investors, LP<sup>(1),(3),(4),(7)</sup> | 6036289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RREF III Debt Direct Domestic Investors, LP<sup>(1),(3),(4),(7)</sup> | 2339279 |
|  | 8375568 |
|  | 205304645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Secondary Funds (Cost $175,182,308) | 241641329 |
| **Total Private Investments (Cost $692,937,158)** | **975624357** |
| **Short-Term Investments - 7.3%** |  |
| &nbsp;&nbsp;&nbsp;UMB Money Market Fiduciary, 0.01%, shares 25,854,816<sup>(8),(9)</sup> | 25854816 |
| &nbsp;&nbsp;&nbsp;UMB Money Market Special, 3.60%, shares 55,861,704<sup>(8),(9)</sup> | 55861704 |
| **Total Short-Term Investments (Cost $81,716,520)** | **81716520** |
| **Total Investments (Cost $774,653,678) - 94.6%** | $**1057340877** |
| Other assets in excess of liabilities - 5.4% | 60503040 |
| **Net Assets - 100%** | $**1117843917** |

---

CSA - Credit Spread Adjustment

EUR - European Union Currency (Euro)

EurlBOR3M - Three Month Euribor Rate

GBP - Great Britain Pound

LLC - Limited Liability Company

LP - Limited Partnership

PIK - Payment In Kind

RAIF - Reserved Alternative Investment Fund

SCSp - Special Limited Partnership

SLP - Special Limited Partnership

SOFR1M - One Month Average Secured Overnight Financing Rate

SOFR3M - Three Month Average Secured Overnight Financing Rate

SONIA - Sterling Overnight Index Average

<sup>1</sup> Restricted security. The total value of these securities is $975,624,357, which represents 87.3% of total net assets of the Fund. Please refer to the Restricted Securities in the Notes to the Consolidated Schedule of Investments.

<sup>2</sup> Investment is valued using the Fund's pro rata net asset value (or its equivalent) as a practical expedient.

<sup>3</sup> Level 3 securities fair valued using significant unobservable inputs. The total value of these securities is $310,092,641, which represents 27.7% of total net assets of the Fund.

<sup>4</sup> Non-income producing.

<sup>5</sup> All or a portion of this security is held through a wholly-owned consolidated Subsidiary, Reverb, Ltd.

<sup>6</sup> All or a portion of this security is held through a wholly-owned consolidated Subsidiary, Spartan I, LLC.

<sup>7</sup> All or a portion of this security is held through a wholly-owned consolidated Subsidiary, BRCE Splitter, LLC.

<sup>8</sup> Rate disclosed represents the seven day yield as of the Fund's period end.

<sup>9</sup> The account is an interest-bearing money market deposit account maintained by UMB Bank, n.a. in its capacity as a custodian for various participating custody accounts. The Fund may redeem its investments in whole, or in part, on each business day.

On December 31, 2025, the Bow River Capital Evergreen Fund had an outstanding forward foreign currency contract with terms as set forth below:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Contract Amount** | **Contract Amount** | **Contract Amount** | | |
| <br> **Settlement Date** | <br>**Counterparty** | **Currency**<br>**Purchased** | **Currency**<br>**Sold** | **Buy** | **Sell** | **Sell** |<br>**Value** | **Unrealized**<br>**Depreciation** |
| March 31, 2026 | Bannockburn Global Forex, LLC | USD | EUR | $46996000 | EUR | 40000000 | $47137073 | $(141073) |
|  |  |  |  |  |  |  |  | $(141073) |

---

**Bow River Capital Evergreen Fund**

**Consolidated Summary of Investments**

**December 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
|  | Percent of Total |
| Security Type/Geographic Region | Net Assets |
| **Private Investments** |  |
| &nbsp;&nbsp;&nbsp;North America | 64.6% |
| &nbsp;&nbsp;&nbsp;Global | 14.1% |
| &nbsp;&nbsp;&nbsp;Europe | 8.6% |
| **Total Private Investments** | **87.3%** |
| **U.S. Treasury Bills** | **0.0%** |
| **Short-Term Investments** | **7.3%** |
| **Total Investments** | **94.6%** |
| &nbsp;&nbsp;&nbsp;Other assets in excess of liabilities | 5.4% |
| **Net Assets** | **100.0%** |

---

**Bow River Capital Evergreen Fund**

**Notes to the CONSOLIDATED schedule of investments**

**DECEMBER 31, 2025 (unaudited)**

**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.

Additional information on each restricted investment held by the Fund on December 31, 2025 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Private Investments** | **Initial**<br>**Acquisition Date** | <br>**Cost** | **Fair**<br>**Value** | **% of**<br>**Net Assets** |
| ACP Hyperdrive Co-Invest, LLC | March 7, 2022 | $2594796 | $2507341 | 0.2% |
| Adams Street 2009 Direct Fund, LP | April 1, 2022 | 17881 | 19249 | 0.0% |
| Adams Street 2010 Direct Fund, LP | April 1, 2022 | 19579 | 27122 | 0.0% |
| Adams Street 2011 Direct Fund, LP | April 1, 2022 | 34216 | 37973 | 0.0% |
| Adams Street 2011 Non-U.S. Developed Markets Fund, LP | April 1, 2022 | 62148 | 120543 | 0.0% |
| Adams Street 2011 U.S. Fund, LP | April 1, 2022 | 92666 | 197759 | 0.0% |
| Adams Street 2013 Global Fund, LP | April 1, 2022 | 947500 | 1414779 | 0.1% |
| Adams Street 2014 Global Fund, LP | April 1, 2022 | 502639 | 803882 | 0.1% |
| Adams Street Partnership Fund 2009 Non-U.S. Developed Markets Fund, LP | April 1, 2022 | 46037 | 61132 | 0.0% |
| Adams Street Partnership Fund 2009 U.S. Fund, LP | April 1, 2022 | 117517 | 133561 | 0.0% |
| Adams Street Partnership Fund 2010 Non-U.S. Developed Markets Fund, LP | April 1, 2022 | 47962 | 88168 | 0.0% |
| Adams Street Partnership Fund 2010 U.S. Fund, LP | April 1, 2022 | 114765 | 186728 | 0.0% |
| AE Co-Investment Partners Fund III-R, LP | February 21, 2025 | 8060039 | 12056039 | 1.1% |
| AG DLI IV (Unlevered), LP | April 28, 2023 | 5984869 | 9674165 | 0.9% |
| Alchemy Special Opportunities Fund II, LP | April 4, 2024 | 701979 | 1049221 | 0.1% |
| Alpine Investors Iceman CV[-A], LP | October 20, 2023 | 7270824 | 11440037 | 1.0% |
| Altor Fund IV (No. 1) AB | August 12, 2022 | 5240993 | 5167171 | 0.5% |
| AP DSB Co-Invest II, LP | July 30, 2021 |  | 513 | 0.0% |
| AP DSB Co-Invest II, LP | July 30, 2021 | 1805064 | 3986830 | 0.4% |
| AP Goat Co-Invest, LP | January 24, 2025 | 4484220 | 4480050 | 0.4% |
| Ashgrove Specialty Lending Fund I SCSp RAIF | December 17, 2021 | 532755 | 973548 | 0.1% |
| Ashgrove Specialty Lending Fund II | August 30, 2024 | 723367 | 663561 | 0.1% |
| ASP (Feeder) 2017 Global Fund, LP | April 1, 2022 | 599165 | 1011978 | 0.1% |
| Avista Capital Partners V, LP | March 16, 2021 | 2747108 | 4658980 | 0.4% |
| Beekeeper TopCo | June 27, 2025 | 5004000 | 5000000 | 0.4% |
| Biloxi Co-Investment Partners, LP | August 13, 2021 | 1460680 | 2448884 | 0.2% |
| Blue Owl Asset Special Opportunities IX GP, LP | October 31, 2025 | 6168930 | 7089670 | 0.6% |
| Blue Wolf Capital Fund IV, LP | December 31, 2024 | 2699746 | 4466947 | 0.4% |
| BRCE SPV I, LLC | May 22, 2020 |  | 153300 | 0.0% |
| Brentwood Associates Private Equity VI, LP | December 31, 2024 | 1852638 | 2997620 | 0.3% |
| Bright Meadow Agency MBS Onshore Fund, LP | April 4, 2025 | 8004000 | 8288400 | 0.7% |
| Brightwood U.S. Credit Fund, LP(1),(2) | September 13, 2024 | 1367870 | 2329533 | 0.2% |
| Butterfly Nourish Co-Invest, LP | February 3, 2023 | 3434753 | 11920853 | 1.1% |
| BW Colson Co-Invest Feeder (Cayman), LP | March 15, 2021 | 3109989 | 6162744 | 0.6% |
| BW Phoenix Co-Invest, LP | February 9, 2024 | 7065259 | 12614621 | 1.1% |
| Capital Dynamics Global Secondaries VI, LP | December 27, 2024 | 691730 | 824146 | 0.1% |
| Carlyle Riser Co-Investment, LP | November 11, 2022 |  | 1510912 | 0.1% |
| CCS Co-Investment Vehicle 2 (Feeder), LP | December 20, 2024 | 10384879 | 13297104 | 1.2% |
| CCS Co-Investment Vehicle I, LP | March 29, 2024 | 3464234 | 4800486 | 0.4% |
| CF24XB SCSp | September 23, 2025 | 10310849 | 11519337 | 1.0% |
| Cheetah Investment Holdings-A LLC | October 10, 2025 | 4792830 | 11972075 | 1.1% |
| CIP IX Co-Investment Vehicle 2, LP | April 4, 2025 | 9822347 | 10551746 | 0.9% |
| CL-EA Co-Investment Opportunities I, LP | June 14, 2024 | 4654361 | 6217265 | 0.6% |
| ClearScale, LLC T/L A | February 19, 2025 | 579775 | 995028 | 0.1% |
| Coller Capital CBL Fund II | October 11, 2024 | 2889426 | 3117713 | 0.3% |
| Coller Credit Opportunities I - Annex I, SLP | July 29, 2021 | 109467 | 1259623 | 0.1% |
| Coller Credit Opportunities I - B, LP | January 5, 2022 | 2121407 | 3377997 | 0.3% |
| Coller International Partners VI Feeder Fund, LP - Class A | October 1, 2020 |  | 119896 | 0.0% |
| Coller International Partners VII Feeder Fund, LP - Series B | October 1, 2020 |  | 1358657 | 0.1% |
| Constellation 2022, LP | August 12, 2022 | 1319965 | 5087324 | 0.5% |
| Corsair Amore Investors, LP | May 27, 2022 | 5912778 | 2252681 | 0.2% |
| Corsair Blade IV (Luxembourg) S.a.r.l. | April 12, 2024 | 4341275 | 4542795 | 0.4% |
| Corsair Riva Munich Co-Investment, LP | March 28, 2025 | 5165183 | 9242826 | 0.8% |
| Coyote 2021, LP | March 29, 2021 | 2616379 | 10117979 | 0.9% |
| CRG Partners III - Parallel Fund (A), LP | December 31, 2022 | 1876669 | 1704760 | 0.2% |
| Crown Secondaries Special Opportunities II B, S.C.S. | September 26, 2024 | 2450997 | 3447712 | 0.3% |
| Crown Secondaries Special Opportunities II, S.C.S. | September 26, 2024 | 6598715 | 8692691 | 0.8% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Private Investments** | **Initial**<br>**Acquisition Date** |<br>**Cost** | **Fair**<br>**Value** | **% of**<br>**Net Assets** |
| Dawson Portfolio Finance 4, LP | November 10, 2020 | 1898988 | 3324140 | 0.3% |
| Dawson Portfolio Finance 5, LP | February 24, 2022 | 3891957 | 4948955 | 0.4% |
| Digital Alpha Solutions Fund, LP | October 28, 2022 | 2523594 | 4451425 | 0.4% |
| DSG Group Holdings, LP | September 9, 2022 | 5585674 | 10417064 | 0.9% |
| Eagle Point Co-Invest II, LP | September 3, 2025 | 3587506 | 3585812 | 0.3% |
| Eagle Point Enhanced Income Fund US, LP | July 11, 2025 | 7345754 | 7477473 | 0.7% |
| Eagle Point SRT Co-Invest I, LP | October 18, 2024 | 3520732 | 3794508 | 0.3% |
| Enak Aggregator, LP | January 18, 2022 | 2861507 | 4309191 | 0.4% |
| EnCap Energy Transition Fund 1-A, LP | April 21, 2021 |  | 925403 | 0.1% |
| Ethos Capital Digital Infrastructure GP, LP | December 15, 2026 | 22606 | 18606 | 0.0% |
| Ethos Capital Investments, LP | August 16, 2023 | 2849859 | 4324427 | 0.4% |
| Falcon Co-Investment Partners, LP | January 26, 2022 | 3029283 | 3090078 | 0.3% |
| FFL Capital Partners V, LP | June 16, 2022 | 5724598 | 9656721 | 0.9% |
| First Reserve Ascent Opportunities Feeder Fund, LP | September 29, 2025 | 6352925 | 7073247 | 0.6% |
| Gasherbrum Fund II, LP | May 30, 2024 | 3677710 | 6377976 | 0.6% |
| Global Infrastructure Partners II-C, LP | January 14, 2022 |  | 242999 | 0.0% |
| Global Infrastructure Partners III-A/B, LP | September 29, 2025 | 2015436 | 2624725 | 0.2% |
| Grain Spectrum Holdings III (Cayman), LP | October 28, 2020 | 2724772 | 3865257 | 0.3% |
| Graphite Capital Partners VIII D, LP | June 30, 2020 |  | 2773878 | 0.3% |
| Gridiron Capital Fund V, LP | November 27, 2023 | 4455069 | 5022110 | 0.4% |
| H.I.G. Starlite-B Co-Investment, LP | April 11, 2025 | 7754211 | 7684203 | 0.7% |
| Hg Vega Co-Invest, LP | May 10, 2024 | 7016708 | 9721010 | 0.9% |
| ICG Europe Fund VII Feeder SCSp | April 4, 2024 | 160642 | 4414066 | 0.4% |
| ICG LP Secondaries Fund I, LP | July 31, 2023 | 2236922 | 3120606 | 0.3% |
| ICG Ludgate Hill IV-A Leopard, LP | July 31, 2023 | 3592175 | 5195108 | 0.5% |
| Ion Pacific Ostrich Echo, LLC | August 18, 2025 | 3083063 | 3151015 | 0.3% |
| Ion Pacific Stonecutter III (Cayman), LP | July 31, 2025 | 1989188 | 2381327 | 0.2% |
| Ion Pacific Succession SCSp | September 19, 2025 | 3374356 | 4809534 | 0.4% |
| ISH Co-Investment Aggregator, LP | May 6, 2021 | 2311692 | 2306581 | 0.2% |
| IvyRehab Holdings, LLC | August 25, 2023 | 8004000 | 11075873 | 1.0% |
| KH Aggregator, LP | November 30, 2020 | 1307232 | 3664647 | 0.3% |
| KKR Game Changer Co-Invest, LP | May 30, 2024 | 6004000 | 8400000 | 0.8% |
| Leeds Equity Partners VI, LP | December 31, 2024 | 3174576 | 3506722 | 0.3% |
| Leeds Equity Partners VII-A, LP | December 31, 2024 | 4644415 | 5080435 | 0.5% |
| LH Equity Investors, LP | September 3, 2025 | 14441500 | 20293988 | 1.8% |
| LJ Ranger Co-Invest, LP | November 14, 2025 | 9696598 | 9692598 | 0.9% |
| Lynx EBO Fund I (A), LLC | December 18, 2020 |  | 23690 | 0.0% |
| NCS Investment, LP | June 12, 2025 | 5064000 | 5057174 | 0.5% |
| New Vintage Partners Fund I, LP | March 28, 2025 | 4531239 | 5646113 | 0.5% |
| NVP Mars Co-Invest, LP | September 26, 2025 | 6504000 | 7051264 | 0.6% |
| NVP Monogram Co-Invest, LP | March 28, 2025 | 10428865 | 12936280 | 1.2% |
| NVP Olipop, LLC | July 31, 2025 | 1271348 | 1461848 | 0.1% |
| OceanSound Partners Co-Invest II, LP - Series B | November 5, 2021 | 3897268 | 12237080 | 1.1% |
| OceanSound Partners Co-Invest II, LP - Series E | December 16, 2022 | 73529 | 13318391 | 1.2% |
| OceanSound Partners Fund II, LP | January 12, 2024 | 5849346 | 7786965 | 0.7% |
| OceanSound Partners Fund, LP | December 27, 2021 | 1967395 | 5858642 | 0.5% |
| OceanSound SMX Continuation Fund, LP | March 29, 2024 | 6703236 | 9668040 | 0.9% |
| Onex Fund V, LP | September 30, 2022 | 4885222 | 7545115 | 0.7% |
| Onex OD Co-Invest, LP | November 9, 2020 |  | 3450775 | 0.3% |
| Onex Structured Credit Opportunities International Fund I, LLC | May 11, 2021 |  | 373078 | 0.0% |
| OSP Co-Invest II, LP | January 5, 2024 | 5952971 | 11555330 | 1.0% |
| Overbay 2025 Fund (International), LP | August 29, 2025 | 7004000 | 8729723 | 0.8% |
| Overbay 2025 Fund Aggregator (AIV V) - Annual Series | November 4, 2025 | 7504000 | 9450000 | 0.8% |
| Overbay Capital Partners 2023 Fund Aggregator, LP | September 30, 2024 | 8116139 | 11708953 | 1.1% |
| Overbay Capital Partners 2024 Fund Aggregator (AIV VI) II, LP | May 23, 2025 | 9964000 | 13660377 | 1.2% |
| Overbay Capital Partners 2024 Fund Aggregator (AIV VII), LP | April 25, 2025 | 17791245 | 22829538 | 2.0% |
| Overbay Fund XIV (AIV III), LP | March 26, 2021 | 142283 | 813219 | 0.1% |
| Overbay Fund XIV Offshore (AIV), LP | January 5, 2021 |  | 1831754 | 0.2% |
| Overbay Fund XIV Offshore, LP | January 22, 2021 | 360819 | 1379162 | 0.1% |
| Palmer Square Loan Funding 2021-3, Ltd. | July 9, 2021 | 405600 | 203995 | 0.0% |
| Palms Co-Investment Partners, LP | June 3, 2022 | 3815660 | 4311308 | 0.4% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Private Investments** | **Initial**<br>**Acquisition Date** |<br>**Cost** | **Fair**<br>**Value** | **% of**<br>**Net Assets** |
| PARIOU SLP | October 14, 2022 | 5063971 | 6118544 | 0.6% |
| Pathstone Family Office, LLC | May 16, 2023 | 2953270 | 2894080 | 0.3% |
| PBN II-A Equity Holdings, LP | August 4, 2025 | 462032 | 641621 | 0.1% |
| PIMCO DSCO Fund II Offshore Feeder, LP | June 30, 2020 | 4205485 | 6101423 | 0.5% |
| Pinegrove Opportunity Partners I Gold Co-Invest | October 31, 2025 | 5078083 | 5074083 | 0.5% |
| Pinegrove Opportunity Partners I, LP | September 26, 2025 | 5005582 | 6376848 | 0.6% |
| Polaris Newco | June 18, 2021 | 1944556 | 2069563 | 0.2% |
| Porcupine Holdings, LP - Class A | December 29, 2021 | 1525130 | 2560442 | 0.2% |
| Porcupine Holdings, LP - Class B | December 29, 2021 | 2010512 | 1591025 | 0.1% |
| Project Stream Co-Invest Fund, LP | October 1, 2021 | 2237751 | 2153482 | 0.2% |
| Prysm Capital Fund II, LP | October 20, 2025 | 9663673 | 15460860 | 1.4% |
| PS Co-Invest II, LP | November 6, 2025 | 3089700 | 3085700 | 0.3% |
| PSC Tiger, LP | September 6, 2024 | 8677877 | 10176633 | 0.9% |
| QHP Sapphire SPV, LP | October 20, 2025 | 13950719 | 17451645 | 1.6% |
| Resolute Fund IV, LP | December 31, 2024 | 2387776 | 3288260 | 0.3% |
| Resolute III Continuation Fund, LP | September 27, 2024 | 8246894 | 8686276 | 0.8% |
| RREF III Debt Direct Domestic Investors, LP | October 10, 2025 | 1896838 | 2339279 | 0.2% |
| RREF III Debt Domestic Investors, LP | October 10, 2025 | 4874884 | 6036289 | 0.5% |
| Ruffer Absolute Institutional, Ltd. | April 1, 2022 | 7004000 | 7427941 | 0.7% |
| Saba Capital Carry Neutral Tail Hedge Offshore Fund, Ltd. | January 28, 2022 | 11004000 | 8809744 | 0.8% |
| SANCY SLP | October 14, 2022 | 1706492 | 1667693 | 0.1% |
| Sand Trust Series 21-1A - Class SUB | November 6, 2021 | 916162 | 570000 | 0.1% |
| SCPCV-A, LP | March 29, 2024 | 6683192 | 7127163 | 0.6% |
| SEP Hamilton III Aggregator, LP | August 17, 2020 | 2524990 | 4842800 | 0.4% |
| SEP Hamilton, LP | June 30, 2023 | 941500 | 1037197 | 0.1% |
| SEP Skyhawk Fund III Aggregator II, LP | April 25, 2025 | 221252 | 550991 | 0.1% |
| SEP Skyhawk Fund III Aggregator, LP | July 9, 2021 | 512631 | 395476 | 0.0% |
| Sheridan Capital Partners Fund III, LP | March 31, 2023 | 2401906 | 4602542 | 0.4% |
| Silver Lake Strategic Investors VI, LP | June 2, 2023 | 5010309 | 7058559 | 0.6% |
| SK Capital Partners VI-A, LP | April 26, 2024 | 5000815 | 8765276 | 0.8% |
| Soundcore Capital Partners Fund III-A | July 18, 2025 | 3919175 | 3360222 | 0.3% |
| Soundcore Fund III REPCI-A, LP | November 12, 2025 | 3004000 | 3000000 | 0.3% |
| Soundcore Fund III RR CI-A, LP | July 31, 2025 | 5004000 | 4978100 | 0.4% |
| Soundcore Fund III TS CI-A, LP | August 28, 2025 | 3004000 | 3000000 | 0.3% |
| Sprinkler 2024 Co-Investment I (Feeder) SCSp | March 14, 2025 | 9981285 | 15628832 | 1.4% |
| Sumeru Equity Partners Fund III, LP | December 8, 2020 | 2154812 | 2667726 | 0.2% |
| Sumeru Equity Partners Fund IV, LP | September 2, 2022 | 2569568 | 2814911 | 0.3% |
| T6 Co-Invest B, LP | August 20, 2025 | 8116118 | 8144453 | 0.7% |
| TCV Beat Co., LP | September 27, 2024 | 7068051 | 9159898 | 0.8% |
| TKO Fund | November 4, 2022 | 961778 | 2062775 | 0.2% |
| TPG IX Evergreen Cl 1, LP | November 22, 2023 | 7363677 | 12542787 | 1.1% |
| Tracer Investors Co-Invest, LP | July 18, 2025 | 9604000 | 9600000 | 0.9% |
| Triton Fund 6 SCSp | August 28, 2025 | 354529 | 899150 | 0.1% |
| Truelink Alpine, LP | July 31, 2024 | 4160667 | 9118711 | 0.8% |
| Truelink Capital Fund I-A, LP | July 31, 2024 | 6994900 | 10439135 | 0.9% |
| Valeas Capital Partners Fund I, LP | October 31, 2024 | 6525557 | 12511365 | 1.1% |
| VCF Compass Co-Investor Holdings II, LP | April 25, 2024 | 790253 | 1001050 | 0.1% |
| VCF Compass Co-Investor Holdings, LP | April 25, 2024 | 6004484 | 8344709 | 0.7% |
| VCPF III Co-Invest 1-A, LP | May 13, 2021 | 1939748 | 2917445 | 0.3% |
| Veregy Parent, LLC | November 3, 2020 | 1757707 | 5798295 | 0.5% |
| Vistage Equity Investors, LP | July 22, 2022 | 5004000 | 10919052 | 1.0% |
| Vistria Agua CV, LP | September 29, 2025 | 17291921 | 20168039 | 1.8% |
| Voleon Composition International Fund | February 29, 2024 | 10004000 | 12761474 | 1.1% |
| Voloridge Fund, LP | November 1, 2020 | 3655642 | 4937818 | 0.4% |
| WestCap Cerebral Co-Invest 2021, LLC | June 17, 2021 | 266593 | 61215 | 0.0% |
| WestCap LoanPal Co-Invest 2020, LLC | December 18, 2020 | 2489794 | 2372496 | 0.2% |
| WestCap Strategic Operator Fund II, LP | July 31, 2021 | 5682535 | 6116066 | 0.5% |
| WestCap Strategic Operator U.S. Feeder Fund, LP | February 5, 2021 | 2035352 | 6461313 | 0.6% |
| Wildcat 21 Co-Invest Fund, LP | August 13, 2021 | 1912397 | 3645197 | 0.3% |
| WP Gateway Co-Invest, LP | October 2, 2023 |  | 6122 | 0.0% |
| Yorkville Partners, LP | November 18, 2024 | 10004000 | 13291389 | 1.2% |
|  |  | $692937158 | $975624357 | 87.3% |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Bow River Capital Evergreen Fund

- **b. Investment Company Act file number:** 811-23566

- **c. CIK number of Registrant:** 0001810256

- **d. LEI of Registrant:** 549300MCKUIHR7P7SO70

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

  - **Street Address 1:** 205 Detroit Street, Suite 800

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80206

  - **Telephone number:** 3038618466

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

- **a. Name of Series:** Bow River Capital Evergreen Fund

- **c. LEI of Series:** 549300MCKUIHR7P7SO70

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1161615423.34

**Total Liabilities:** $43771505.96

**Net Assets:** $1117843917.38

**Amount of Assets Invested in Other Investment Companies:** $4270751.88

**Cash Not Reported:** $100470194.33

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C745011111 | 1.25%                | 3.19%                | 0.24%                |
| Class ID C745022222 | 1.23%                | 3.16%                | 0.22%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $593155.46               | $16838448.00                               |
| Month 2  | $1464081.62              | $33331445.54                               |
| Month 3  | $2199513.00              | $3455078.00                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Porcupine Holdings LP Class A                                              | Porcupine Holdings LP Class A                                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2560442 | OU      | $2560441.50   | 0.23%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Polaris Newco                                                              | Polaris Newco                                                              | CUSIP: 999999999<br>LEI: N/A | Long             | LON              |  | US        |   2150195 | PA      | $2069563.00   | 0.19%             | 2029-06-03      | Floating      | 13.45%                | Yes           | 3                  | On Loan: No      |
| Pinegrove Opportunity Partners I LP                                        | Pinegrove Opportunity Partners I LP                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   6376848 | OU      | $6376847.82   | 0.57%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Pinegrove Opportunity Partners I Gold Co-Invest                            | Pinegrove Opportunity Partners I Gold Co-Invest                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5074083 | OU      | $5074083.03   | 0.45%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Project Voyager                                                            | Project Voyager                                                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |  11519337 | OU      | $11519337.00  | 1.03%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Crown Secondaries Special Opportunities II S.C.S                           | Crown Secondaries Special Opportunities II S.C.S                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |   8692691 | OU      | $8692691.00   | 0.78%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Dawson Portfolio Finance 5 LP                                              | Dawson Portfolio Finance 5 LP                                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4948955 | OU      | $4948955.45   | 0.44%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Dawson Portfolio Finance 4 LP                                              | Dawson Portfolio Finance 4 LP                                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3324140 | OU      | $3324139.64   | 0.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Felicitas Equity Fund LP (Project Fun)                                     | Felicitas Equity Fund LP (Project Fun)                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1037197 | OU      | $1037196.65   | 0.09%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Falcon Co-investment Partners, LP                                          | Falcon Co-investment Partners, LP                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3090078 | OU      | $3090078.00   | 0.28%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ethos Capital Fund I                                                       | Ethos Capital Fund I                                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4324427 | OU      | $4324426.99   | 0.39%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ethos Capital Digital Infrastructure GP LP                                 | Ethos Capital Digital Infrastructure GP LP                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |     18606 | OU      | $18606.00     | 0.00%             |  |  |  | Yes           | 3                  | On Loan: No      |
| EnCap Energy Transition Fund 1-A, L.P.                                     | EnCap Energy Transition Fund 1-A, L.P.                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    925402 | OU      | $925402.50    | 0.08%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Enak Aggregator L.P.                                                       | Enak Aggregator L.P.                                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |   4309191 | OU      | $4309190.65   | 0.39%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ion Pacific Stonecutter III (Cayman) LP                                    | Ion Pacific Stonecutter III (Cayman) LP                                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2381327 | OU      | $2381326.74   | 0.21%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ISH Co-investment Aggregator LP                                            | ISH Co-investment Aggregator LP                                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2306581 | OU      | $2306581.00   | 0.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ion Pacific Succession SCSp                                                | Ion Pacific Succession SCSp                                                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |   4809534 | OU      | $4809534.48   | 0.43%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Ion Pacific Ostrich Echo LLC                                               | Ion Pacific Ostrich Echo LLC                                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3151015 | OU      | $3151015.00   | 0.28%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ICG Ludgate Hill IV-A Leopard (Project Leopard)                            | ICG Ludgate Hill IV-A Leopard (Project Leopard)                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5195108 | OU      | $5195108.00   | 0.46%             |  |  |  | Yes           | N/A                | On Loan: No      |
| ICG LP Secondaries Fund                                                    | ICG LP Secondaries Fund                                                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3120606 | OU      | $3120605.82   | 0.28%             |  |  |  | Yes           | N/A                | On Loan: No      |
| ICG Europe Fund VII Feeder SCSp                                            | ICG Europe Fund VII Feeder SCSp                                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |   4414066 | OU      | $4414065.56   | 0.39%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Lynx EBO Fund I(A), LLC                                                    | Lynx EBO Fund I(A), LLC                                                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |     23690 | OU      | $23690.10     | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| LJ Ranger Co-Invest LP                                                     | LJ Ranger Co-Invest LP                                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   9692598 | OU      | $9692597.77   | 0.87%             |  |  |  | Yes           | 3                  | On Loan: No      |
| LH Equity Investors LP                                                     | LH Equity Investors LP                                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  20293988 | OU      | $20293988.00  | 1.82%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Leeds Equity Partners VII-A LP                                             | Leeds Equity Partners VII-A LP                                             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5080435 | OU      | $5080435.00   | 0.45%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Leeds Equity Partners VI LP                                                | Leeds Equity Partners VI LP                                                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3506722 | OU      | $3506722.00   | 0.31%             |  |  |  | Yes           | N/A                | On Loan: No      |
| KKR Game Changer Co-Invest LP                                              | KKR Game Changer Co-Invest LP                                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   8400000 | OU      | $8400000.00   | 0.75%             |  |  |  | Yes           | 3                  | On Loan: No      |
| KH Aggregator LP                                                           | KH Aggregator LP                                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3664647 | OU      | $3664647.13   | 0.33%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Soundcore Fund III REP CI-A LP                                             | Soundcore Fund III REP CI-A LP                                             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3000000 | OU      | $3000000.00   | 0.27%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Soundcore Capital Partners Fund III-A                                      | Soundcore Capital Partners Fund III-A                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3360222 | OU      | $3360222.00   | 0.30%             |  |  |  | Yes           | 3                  | On Loan: No      |
| SK Capital Partners VI-A LP                                                | SK Capital Partners VI-A LP                                                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   8765276 | OU      | $8765276.00   | 0.78%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Silver Lake Strategic Investors VI, LP (Project Quartz)                    | Silver Lake Strategic Investors VI, LP (Project Quartz)                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   7058559 | OU      | $7058559.00   | 0.63%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Sheridan Capital Partners Fund III LP Project Sheridan                     | Sheridan Capital Partners Fund III LP Project Sheridan                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4602542 | OU      | $4602541.73   | 0.41%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ocean Sound Partners Fund LP                                               | Ocean Sound Partners Fund LP                                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5858642 | OU      | $5858642.00   | 0.52%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ocean Sound Partners Fund II LP                                            | Ocean Sound Partners Fund II LP                                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   7786965 | OU      | $7786965.00   | 0.70%             |  |  |  | Yes           | N/A                | On Loan: No      |
| NVP Olipop LLC                                                             | NVP Olipop LLC                                                             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1461848 | OU      | $1461847.73   | 0.13%             |  |  |  | Yes           | 3                  | On Loan: No      |
| NVP Monogram Co-Invest LP                                                  | NVP Monogram Co-Invest LP                                                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  12936280 | OU      | $12936280.00  | 1.16%             |  |  |  | Yes           | N/A                | On Loan: No      |
| NVP Mars Co-Invest LP                                                      | NVP Mars Co-Invest LP                                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   7051264 | OU      | $7051264.00   | 0.63%             |  |  |  | Yes           | 3                  | On Loan: No      |
| New Vintage Partners Fund I LP                                             | New Vintage Partners Fund I LP                                             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5646113 | OU      | $5646113.00   | 0.51%             |  |  |  | Yes           | N/A                | On Loan: No      |
| NCS Investment LP                                                          | NCS Investment LP                                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5057174 | OU      | $5057174.00   | 0.45%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Tracer Investors Co-Invest LP                                              | Tracer Investors Co-Invest LP                                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   9600000 | OU      | $9600000.00   | 0.86%             |  |  |  | Yes           | 3                  | On Loan: No      |
| TPG IX Evergreen CI 1, LP (Project Falcon)                                 | TPG IX Evergreen CI 1, LP (Project Falcon)                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  12542787 | OU      | $12542787.00  | 1.12%             |  |  |  | Yes           | N/A                | On Loan: No      |
| TKO Fund                                                                   | TKO Fund                                                                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | FR        |   2062775 | OU      | $2062775.49   | 0.18%             |  |  |  | Yes           | N/A                | On Loan: No      |
| TCV Beat C LP                                                              | TCV Beat C LP                                                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   9159898 | OU      | $9159898.00   | 0.82%             |  |  |  | Yes           | N/A                | On Loan: No      |
| T6 Co-Invest B LP                                                          | T6 Co-Invest B LP                                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |   8144453 | OU      | $8144453.19   | 0.73%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Sumeru Equity Partners Fund IV L.P.                                        | Sumeru Equity Partners Fund IV L.P.                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2814911 | OU      | $2814910.61   | 0.25%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Sumeru Equity Partners Fund III L.P.                                       | Sumeru Equity Partners Fund III L.P.                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2667726 | OU      | $2667726.09   | 0.24%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Yorkville Partners LP                                                      | Yorkville Partners LP                                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  13291389 | OU      | $13291388.89  | 1.19%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Wildcat-21                                                                 | Wildcat-21                                                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3645197 | OU      | $3645197.09   | 0.33%             |  |  |  | Yes           | N/A                | On Loan: No      |
| WestCap Strategic Operator US Feeder Fund, LP                              | WestCap Strategic Operator US Feeder Fund, LP                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   6461313 | OU      | $6461313.36   | 0.58%             |  |  |  | Yes           | 3                  | On Loan: No      |
| GBP CURRENCY                                                               | GBP CURRENCY                                                               | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | N/A       |      6219 | OU      | $6218.77      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| WestCap Strategic Operator Fund II, LP                                     | WestCap Strategic Operator Fund II, LP                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   6116066 | OU      | $6116066.00   | 0.55%             |  |  |  | Yes           | N/A                | On Loan: No      |
| WestCap LoanPal Co-Invest 2020, LLC                                        | WestCap LoanPal Co-Invest 2020, LLC                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2372496 | OU      | $2372496.06   | 0.21%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Westcap Cerebral Co-Invest 2021 LLC                                        | Westcap Cerebral Co-Invest 2021 LLC                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |     61215 | OU      | $61215.00     | 0.01%             |  |  |  | Yes           | N/A                | On Loan: No      |
| VSTG Equity Investors LP                                                   | VSTG Equity Investors LP                                                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  10919052 | OU      | $10919052.00  | 0.98%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Voloridge Fund LP                                                          | Voloridge Fund LP                                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4937818 | OU      | $4937818.08   | 0.44%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Voleon Composition International Fund                                      | Voleon Composition International Fund                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |  12761474 | OU      | $12761473.85  | 1.14%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Vistria Agua CV (FT) LP                                                    | Vistria Agua CV (FT) LP                                                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  20168039 | OU      | $20168039.00  | 1.80%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Veregy Parent, LLC                                                         | Veregy Parent, LLC                                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5798295 | OU      | $5798295.29   | 0.52%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Vega Co-Invest LP                                                          | Vega Co-Invest LP                                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |   9721010 | OU      | $9721010.00   | 0.87%             |  |  |  | Yes           | N/A                | On Loan: No      |
| VCPF III Co-Invest 1-A L.P. (Afiniti)                                      | VCPF III Co-Invest 1-A L.P. (Afiniti)                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2917445 | OU      | $2917445.00   | 0.26%             |  |  |  | Yes           | N/A                | On Loan: No      |
| VCF Compass Co-Investor Holdings LP                                        | VCF Compass Co-Investor Holdings LP                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   8344709 | OU      | $8344709.00   | 0.75%             |  |  |  | Yes           | N/A                | On Loan: No      |
| VCF Compass Co-Investor Holdings II LP                                     | VCF Compass Co-Investor Holdings II LP                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1001050 | OU      | $1001050.00   | 0.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Valeas Capital Partners Fund I                                             | Valeas Capital Partners Fund I                                             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  12511365 | OU      | $12511365.00  | 1.12%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Truelink Capital Fund I                                                    | Truelink Capital Fund I                                                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  10439135 | OU      | $10439135.00  | 0.93%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Truelink ADT Co-Invest                                                     | Truelink ADT Co-Invest                                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   9118711 | OU      | $9118711.00   | 0.82%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Triton Fund 6 SCSp                                                         | Triton Fund 6 SCSp                                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |    899150 | OU      | $899150.05    | 0.08%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Biloxi Co-investment Partners, L.P.                                        | Biloxi Co-investment Partners, L.P.                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2448884 | OU      | $2448884.00   | 0.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Blue Wolf Capital Fund IV, L.P.                                            | Blue Wolf Capital Fund IV, L.P.                                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4466947 | OU      | $4466947.00   | 0.40%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Blue Owl Asset Special Opportunities IX GP LP                              | Blue Owl Asset Special Opportunities IX GP LP                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   7089670 | OU      | $7089670.00   | 0.63%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Brightwood US Credit Fund LP                                               | Brightwood US Credit Fund LP                                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2329533 | OU      | $2329533.00   | 0.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street 2013 Global Fund LP                                           | Adams Street 2013 Global Fund LP                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1414779 | OU      | $1414779.00   | 0.13%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street 2011 US Fund, L.P.                                            | Adams Street 2011 US Fund, L.P.                                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    197759 | OU      | $197759.00    | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street 2011 Non-US Developed Markets Fund LP                         | Adams Street 2011 Non-US Developed Markets Fund LP                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    120543 | OU      | $120543.00    | 0.01%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street 2011 Direct Fund LP                                           | Adams Street 2011 Direct Fund LP                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |     37973 | OU      | $37973.00     | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Coller PBN                                                                 | Coller PBN                                                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    641621 | OU      | $641621.00    | 0.06%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Coller International Partners VII Feeder Fund, L.P.                        | Coller International Partners VII Feeder Fund, L.P.                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |   1163645 | OU      | $1163645.47   | 0.10%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Coller International Partners VI Feeder Fund, L.P.                         | Coller International Partners VI Feeder Fund, L.P.                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |    195012 | OU      | $195011.83    | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| PIMCO DISCO Fund II Offshore Feeder, L.P.                                  | PIMCO DISCO Fund II Offshore Feeder, L.P.                                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   6101423 | OU      | $6101422.99   | 0.55%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Pathstone Family Office LLC                                                | Pathstone Family Office LLC                                                | CUSIP: 999999999<br>LEI: N/A | Long             | LON              |  | US        |   2953575 | PA      | $2894080.00   | 0.26%             | 2029-05-19      | Floating      | 9.43%                 | Yes           | 3                  | On Loan: No      |
| Palms Co-Investment Partners, LP                                           | Palms Co-Investment Partners, LP                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4311308 | OU      | $4311308.00   | 0.39%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Overbay XIV - AIV III (Quebec)                                             | Overbay XIV - AIV III (Quebec)                                             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | CA        |    813219 | OU      | $813219.34    | 0.07%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SCPCV LP (Project Torque)                                                  | SCPCV LP (Project Torque)                                                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   7127163 | OU      | $7127163.00   | 0.64%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Sand Trust Series 21-1A, Class SUB                                         | Sand Trust Series 21-1A, Class SUB                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    570000 | OU      | $570000.00    | 0.05%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Sal Pension Fund Limited                                                   | Sal Pension Fund Limited                                                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   9674165 | OU      | $9674165.00   | 0.87%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Saba Capital Carry Neutral Tail Hedge Offshore Fund Ltd                    | Saba Capital Carry Neutral Tail Hedge Offshore Fund Ltd                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   8809744 | OU      | $8809743.93   | 0.79%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ruffer Absolute Institutional Limited                                      | Ruffer Absolute Institutional Limited                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   7427941 | OU      | $7427940.69   | 0.66%             |  |  |  | Yes           | N/A                | On Loan: No      |
| RREF III Debt Domestic Investors, LP                                       | RREF III Debt Domestic Investors, LP                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   6036289 | OU      | $6036289.00   | 0.54%             |  |  |  | Yes           | 3                  | On Loan: No      |
| RREF III Debt Direct Domestic Investors, LP                                | RREF III Debt Direct Domestic Investors, LP                                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2339279 | OU      | $2339279.00   | 0.21%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Resolute III Continuation Fund LP                                          | Resolute III Continuation Fund LP                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   8686276 | OU      | $8686276.00   | 0.78%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Resolute Fund IV, L.P.                                                     | Resolute Fund IV, L.P.                                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3288260 | OU      | $3288260.00   | 0.29%             |  |  |  | Yes           | N/A                | On Loan: No      |
| QHP Sapphire SPV LP                                                        | QHP Sapphire SPV LP                                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  17451645 | OU      | $17451645.31  | 1.56%             |  |  |  | Yes           | 3                  | On Loan: No      |
| PSC Tiger LP                                                               | PSC Tiger LP                                                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |  10176633 | OU      | $10176632.98  | 0.91%             |  |  |  | Yes           | N/A                | On Loan: No      |
| PS Co-Invest II LP                                                         | PS Co-Invest II LP                                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3085700 | OU      | $3085700.36   | 0.28%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Prysm Capital Fund II LP                                                   | Prysm Capital Fund II LP                                                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  15460860 | OU      | $15460860.27  | 1.38%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Project Watson - Global Infrastructure Partners II - C, L.P.               | Project Watson - Global Infrastructure Partners II - C, L.P.               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |    242999 | OU      | $242999.00    | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Project Watson - Coller International Partners VI Feeder Fund, L.P.        | Project Watson - Coller International Partners VI Feeder Fund, L.P.        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |    119896 | OU      | $119896.17    | 0.01%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Echo 1 Mezz Notes                                                          | Echo 1 Mezz Notes                                                          | CUSIP: 999999999<br>LEI: N/A | Long             | LON              |  | FR        |   3794508 | PA      | $3794507.56   | 0.34%             | 2031-09-26      | Floating      | 10.34%                | Yes           | 3                  | On Loan: No      |
| Eagle Point Enhanced Income Fund US LP                                     | Eagle Point Enhanced Income Fund US LP                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   7477473 | OU      | $7477473.00   | 0.67%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Eagle Point Co-Invest II LP                                                | Eagle Point Co-Invest II LP                                                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   3585812 | OU      | $3585811.65   | 0.32%             |  |  |  | Yes           | 3                  | On Loan: No      |
| DriveCentric Co-Investment                                                 | DriveCentric Co-Investment                                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |      6122 | OU      | $6122.00      | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Crown Secondaries Special Opportunities II B S.C.S.                        | Crown Secondaries Special Opportunities II B S.C.S.                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |   3447712 | OU      | $3447712.00   | 0.31%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Coyote 2021 LP (Friendly Skies)                                            | Coyote 2021 LP (Friendly Skies)                                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  10117979 | OU      | $10117979.00  | 0.91%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Corsair Riva Munich Co-Investment LP                                       | Corsair Riva Munich Co-Investment LP                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   9242826 | OU      | $9242826.27   | 0.83%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Corsair Blade IV (Project Zedra)                                           | Corsair Blade IV (Project Zedra)                                           | CUSIP: 999999999<br>LEI: N/A | Long             | LON              |  | GB        |   4542795 | PA      | $4542794.81   | 0.41%             | 2031-01-05      | Floating      | 10.21%                | Yes           | 3                  | On Loan: No      |
| Corsair Amore Investors                                                    | Corsair Amore Investors                                                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   2252681 | OU      | $2252681.44   | 0.20%             |  |  |  | Yes           | 3                  | On Loan: No      |
| SEP Skyhawk Fund III Aggregator LP                                         | SEP Skyhawk Fund III Aggregator LP                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    395476 | OU      | $395476.00    | 0.04%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SEP Skyhawk Fund III Aggregator II LP                                      | SEP Skyhawk Fund III Aggregator II LP                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    550991 | OU      | $550990.89    | 0.05%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SEP Hamilton III Aggregator LP                                             | SEP Hamilton III Aggregator LP                                             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4842800 | OU      | $4842800.00   | 0.43%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Heka - Equity                                                              | Heka - Equity                                                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | FR        |   1667693 | OU      | $1667693.04   | 0.15%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Heka - Debt                                                                | Heka - Debt                                                                | CUSIP: 999999999<br>LEI: N/A | Long             | LON              |  | FR        |   6118544 | PA      | $6118544.14   | 0.55%             | 2030-10-31      | Fixed         | 8.00%                 | Yes           | N/A                | On Loan: No      |
| H.I.G. Starlite-B Co-Investment, L.P.                                      | H.I.G. Starlite-B Co-Investment, L.P.                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   7684203 | OU      | $7684203.00   | 0.69%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Gridiron Capital Fund V LP                                                 | Gridiron Capital Fund V LP                                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5022110 | OU      | $5022110.00   | 0.45%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Graphite Capital Partners VIII D LP                                        | Graphite Capital Partners VIII D LP                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |   2773878 | OU      | $2773878.43   | 0.25%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Grain Spectrum Holdings III (Cayman), L.P.                                 | Grain Spectrum Holdings III (Cayman), L.P.                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3865257 | OU      | $3865256.92   | 0.35%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Global Infrastructure Partners III-A/B LP                                  | Global Infrastructure Partners III-A/B LP                                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2624725 | OU      | $2624724.89   | 0.23%             |  |  |  | Yes           | 3                  | On Loan: No      |
| IvyRehab Holdings LLC Project Ivy                                          | IvyRehab Holdings LLC Project Ivy                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  11075873 | OU      | $11075873.24  | 0.99%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Sprinkler 2024 Co-Investment I (Feeder)                                    | Sprinkler 2024 Co-Investment I (Feeder)                                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |  15628832 | OU      | $15628832.39  | 1.40%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Soundcore Fund III TS CI-A                                                 | Soundcore Fund III TS CI-A                                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3000000 | OU      | $3000000.00   | 0.27%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Soundcore Fund III RR CIA LP                                               | Soundcore Fund III RR CIA LP                                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4978100 | OU      | $4978100.00   | 0.45%             |  |  |  | Yes           | 3                  | On Loan: No      |
| EUR CURRENCY                                                               | EUR CURRENCY                                                               | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             |  | N/A       |    608095 | OU      | $714313.62    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| EUR FORWARD BOW RIVER CONTRACT 12/30/2025  /                               | EUR FORWARD BOW RIVER CONTRACT 12/30/2025  /                               | CUSIP: 999999999<br>LEI: N/A | N/A              | DFE              |  | N/A       | -40000000 | OU      | $-47137072.73 | -4.22%            |  |  |  | No            | 2                  | On Loan: No      |
| UMB MONEY MARKET II SPECIAL ACCOUNT                                        | UMB MONEY MARKET II SPECIAL ACCOUNT                                        | CUSIP: SF8888628<br>LEI: N/A | Long             | STIV             | CORP              | US        |  55861704 | PA      | $55861704.01  | 5.00%             |  |  |  | No            | 1                  | On Loan: No      |
| UMB MONEY MARKET SPECIAL ACCOUNT  /                                        | UMB MONEY MARKET SPECIAL ACCOUNT  /                                        | CUSIP: SF8888205<br>LEI: N/A | Long             | STIV             | CORP              | US        |  25854816 | PA      | $25854816.00  | 2.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Bright Meadow Agency MBS Onshore Fund LP                                   | Bright Meadow Agency MBS Onshore Fund LP                                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   8288400 | OU      | $8288399.99   | 0.74%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Brentwood Associates Private Equity VI, L.P.                               | Brentwood Associates Private Equity VI, L.P.                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2997620 | OU      | $2997619.80   | 0.27%             |  |  |  | Yes           | N/A                | On Loan: No      |
| BRCE SPV I, LLC                                                            | BRCE SPV I, LLC                                                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    153300 | OU      | $153299.80    | 0.01%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Avista Capital Partners V LP                                               | Avista Capital Partners V LP                                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4658980 | OU      | $4658980.00   | 0.42%             |  |  |  | Yes           | N/A                | On Loan: No      |
| ASP (Feeder) 2017 Global Fund LP                                           | ASP (Feeder) 2017 Global Fund LP                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   1011978 | OU      | $1011978.00   | 0.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ashgrove Specialty Lending Fund II                                         | Ashgrove Specialty Lending Fund II                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |    663561 | OU      | $663561.00    | 0.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Ashgrove Speciality Lending Fund I                                         | Ashgrove Speciality Lending Fund I                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |    973548 | OU      | $973547.52    | 0.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AP Goat Co-Invest (Project Goat)                                           | AP Goat Co-Invest (Project Goat)                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   4480050 | OU      | $4480049.72   | 0.40%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AP DSB Co-invest LLC II, LP (Equity)                                       | AP DSB Co-invest LLC II, LP (Equity)                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3986830 | OU      | $3986830.00   | 0.36%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AP DSB Co-invest LLC II, LP (Debt)                                         | AP DSB Co-invest LLC II, LP (Debt)                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |       513 | OU      | $513.00       | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Altor Fund IV (Project Eddington)                                          | Altor Fund IV (Project Eddington)                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | NO        |   5167171 | OU      | $5167170.83   | 0.46%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Alpine Investors Iceman CV, LP (Project Iceman)                            | Alpine Investors Iceman CV, LP (Project Iceman)                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  11440037 | OU      | $11440036.97  | 1.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Alchemy Special Opportunities Fund II LP                                   | Alchemy Special Opportunities Fund II LP                                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |   1049221 | OU      | $1049221.24   | 0.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AE Co-Investment Partners Fund III-R Project Cobra                         | AE Co-Investment Partners Fund III-R Project Cobra                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  12056039 | OU      | $12056039.42  | 1.08%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Adams Street Partnership Fund-2010 US Fund, LP                             | Adams Street Partnership Fund-2010 US Fund, LP                             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    186728 | OU      | $186728.00    | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street Partnership Fund-2010 Non-U.S. Developed Markets Fund, L.P.   | Adams Street Partnership Fund-2010 Non-U.S. Developed Markets Fund, L.P.   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |     88168 | OU      | $88168.00     | 0.01%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street Partnership Fund 2009 US Fund, L.P.                           | Adams Street Partnership Fund 2009 US Fund, L.P.                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    133561 | OU      | $133561.00    | 0.01%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street Partnership Fund 2009 Non-U.S. Developed Markets Fund, L.P.   | Adams Street Partnership Fund 2009 Non-U.S. Developed Markets Fund, L.P.   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |     61132 | OU      | $61132.00     | 0.01%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street 2014 Global Fund LP                                           | Adams Street 2014 Global Fund LP                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    803882 | OU      | $803882.00    | 0.07%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street 2010 Direct Fund, L.P.                                        | Adams Street 2010 Direct Fund, L.P.                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |     27122 | OU      | $27122.00     | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Adams Street 2009 Direct Fund, L.P.                                        | Adams Street 2009 Direct Fund, L.P.                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |     19249 | OU      | $19249.00     | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Acquiom Financial LLC (Beekeeper)                                          | Acquiom Financial LLC (Beekeeper)                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5000000 | OU      | $5000000.00   | 0.45%             |  |  |  | Yes           | 3                  | On Loan: No      |
| ACP Hyperdrive Co-invest LLC                                               | ACP Hyperdrive Co-invest LLC                                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2507341 | OU      | $2507341.00   | 0.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Onex OD Co-Invest LP                                                       | Onex OD Co-Invest LP                                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   3450775 | OU      | $3450775.00   | 0.31%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Onex Structured Credit Opportunities International Fund I, LLC             | Onex Structured Credit Opportunities International Fund I, LLC             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |    373078 | OU      | $373078.44    | 0.03%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Onex Partners Fund V LP                                                    | Onex Partners Fund V LP                                                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   7545115 | OU      | $7545115.00   | 0.67%             |  |  |  | Yes           | N/A                | On Loan: No      |
| OceanSound SMX Continuation Fund                                           | OceanSound SMX Continuation Fund                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   9668040 | OU      | $9668040.00   | 0.86%             |  |  |  | Yes           | N/A                | On Loan: No      |
| OceanSound Partners Co-Invest II, LP - Series E                            | OceanSound Partners Co-Invest II, LP - Series E                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  13318391 | OU      | $13318391.00  | 1.19%             |  |  |  | Yes           | N/A                | On Loan: No      |
| OceanSound Partners Co-Invest II, LP - Series B                            | OceanSound Partners Co-Invest II, LP - Series B                            | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  12237080 | OU      | $12237080.00  | 1.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Constellation 2022 L.P.                                                    | Constellation 2022 L.P.                                                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   5087324 | OU      | $5087324.00   | 0.46%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Overbay Fund XIV Offshore LP                                               | Overbay Fund XIV Offshore LP                                               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | CA        |   1379162 | OU      | $1379161.93   | 0.12%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Overbay Fund XIV Offshore (AIV)LP (Skyview)                                | Overbay Fund XIV Offshore (AIV)LP (Skyview)                                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | CA        |   1831754 | OU      | $1831754.49   | 0.16%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Overbay Capital Partners 2024 Fund Aggregator (AIV VI) Glencoe Investor II | Overbay Capital Partners 2024 Fund Aggregator (AIV VI) Glencoe Investor II | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  13660377 | OU      | $13660377.00  | 1.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Overbay Capital Partners 2024 Fund Aggregator (AIV V) LP                   | Overbay Capital Partners 2024 Fund Aggregator (AIV V) LP                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | CA        |  22829538 | OU      | $22829538.35  | 2.04%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Overbay Capital Partners 2023 Fund Aggregator (AIV V) LP                   | Overbay Capital Partners 2023 Fund Aggregator (AIV V) LP                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | CA        |  11708953 | OU      | $11708953.40  | 1.05%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Overbay 2025 Fund Aggregator (AIV V) - Annual Series                       | Overbay 2025 Fund Aggregator (AIV V) - Annual Series                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | CA        |   9450000 | OU      | $9450000.00   | 0.85%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Overbay 2025 Fund (International) LP                                       | Overbay 2025 Fund (International) LP                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   8729723 | OU      | $8729723.00   | 0.78%             |  |  |  | Yes           | 3                  | On Loan: No      |
| OSP Co-Invest II, LP                                                       | OSP Co-Invest II, LP                                                       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  11555330 | OU      | $11555330.00  | 1.03%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Coller Credit Second Special Sits Fund (Project Vermeer)                   | Coller Credit Second Special Sits Fund (Project Vermeer)                   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |   4800486 | OU      | $4800486.02   | 0.43%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Coller Credit Opportunities I-Annex I                                      | Coller Credit Opportunities I-Annex I                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |   1259623 | OU      | $1259623.00   | 0.11%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Coller CCO I GP, LP                                                        | Coller CCO I GP, LP                                                        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |   3377997 | OU      | $3377997.48   | 0.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Coller Capital CBL Fund II                                                 | Coller Capital CBL Fund II                                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   3117713 | OU      | $3117712.66   | 0.28%             |  |  |  | Yes           | N/A                | On Loan: No      |
| ClearScale T/L A                                                           | ClearScale T/L A                                                           | CUSIP: 999999999<br>LEI: N/A | Long             | LON              |  | US        |    995028 | PA      | $995027.55    | 0.09%             | 2025-11-19      | Floating      | 13.21%                | Yes           | 3                  | On Loan: No      |
| CL-EA Co-Investment Opportunities I, LP                                    | CL-EA Co-Investment Opportunities I, LP                                    | CUSIP: 999999999<br>LEI: N/A | Long             | LON              |  | KY        |   6217265 | PA      | $6217265.00   | 0.56%             | 2029-12-31      | Floating      | 10.83%                | Yes           | N/A                | On Loan: No      |
| CIP IX Co-Investment Vehicle 2 LP (Project Raptor)                         | CIP IX Co-Investment Vehicle 2 LP (Project Raptor)                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |  10551746 | OU      | $10551746.00  | 0.94%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Cheetah Investment Holdings-A LLC                                          | Cheetah Investment Holdings-A LLC                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  11972075 | OU      | $11972075.00  | 1.07%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CCS Co-Investment Vehicle 2 Feeder                                         | CCS Co-Investment Vehicle 2 Feeder                                         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GG        |  13297104 | OU      | $13297104.00  | 1.19%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Capital Dynamics Global Secondaries VI                                     | Capital Dynamics Global Secondaries VI                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |    824146 | OU      | $824146.00    | 0.07%             |  |  |  | Yes           | N/A                | On Loan: No      |
| BW Phoenix Co-Invest (Project Phoenix)                                     | BW Phoenix Co-Invest (Project Phoenix)                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  12614621 | OU      | $12614621.00  | 1.13%             |  |  |  | Yes           | N/A                | On Loan: No      |
| BW Colson Co-Invest Feeder (Cayman) LP                                     | BW Colson Co-Invest Feeder (Cayman) LP                                     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |   6162744 | OU      | $6162744.00   | 0.55%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Butterfly Nourish Co-invest Project Nourish                                | Butterfly Nourish Co-invest Project Nourish                                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  11920853 | OU      | $11920853.00  | 1.07%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Project Tiger (DSG Group Holdings LP)                                      | Project Tiger (DSG Group Holdings LP)                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |  10417064 | OU      | $10417064.00  | 0.93%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Project Telluride (CRG Fund III)                                           | Project Telluride (CRG Fund III)                                           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1704760 | OU      | $1704760.00   | 0.15%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Project Stream Co-Invest Fund, LP                                          | Project Stream Co-Invest Fund, LP                                          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   2153482 | OU      | $2153481.85   | 0.19%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Project Riser                                                              | Project Riser                                                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1510912 | OU      | $1510912.00   | 0.14%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Project Palmer Square Loan Funding 2021-3                                  | Project Palmer Square Loan Funding 2021-3                                  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | KY        |    203995 | OU      | $203995.40    | 0.02%             |  |  |  | Yes           | 2                  | On Loan: No      |
| Project Dimension                                                          | Project Dimension                                                          | CUSIP: 999999999<br>LEI: N/A | Long             | DBT              |  | US        |   4451425 | PA      | $4451424.57   | 0.40%             | 2099-12-31      | Floating      | 14.86%                | Yes           | N/A                | On Loan: No      |
| Porcupine Holdings LP Class B                                              | Porcupine Holdings LP Class B                                              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   1591025 | OU      | $1591025.00   | 0.14%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Gasherbrum Fund II LP                                                      | Gasherbrum Fund II LP                                                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   6377976 | OU      | $6377976.00   | 0.57%             |  |  |  | Yes           | N/A                | On Loan: No      |
| First Reserve Ascent Opportunities Feeder Fund LP (Project Bronco)         | First Reserve Ascent Opportunities Feeder Fund LP (Project Bronco)         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   7073247 | OU      | $7073246.76   | 0.63%             |  |  |  | Yes           | 3                  | On Loan: No      |
| FFL Capital Partners V, LP                                                 | FFL Capital Partners V, LP                                                 | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |   9656721 | OU      | $9656721.00   | 0.86%             |  |  |  | Yes           | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2026-01-29

**Name of Applicant:** Bow River Capital Evergreen Fund

**Signature:** /s/ Derek Mullins

**Name of Signer:** Derek Mullins

**Title:** Treasurer