# EDGAR Filing Document

**Accession Number:** 0001944664
**File Stem:** 0001752724-25-212296
**Filing Date:** 2025-8
**Character Count:** 101465
**Document Hash:** 57a78a7bedaefc9adf2843c8de5371f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-212296.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001752724-25-212296

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nomura Alternative Income Fund
- **CENTRAL INDEX KEY:** 0001944664

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23826
- **FILM NUMBER:** 251276898

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 2126679131

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Nport-Ex

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS** **(Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS** **(Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS** **(Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS** **(Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS** **(Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS** **(Unaudited)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Principal Amount ($)** | | **Index + Spread** | **Coupon Rate (%)** | **Maturity Date** | **Fair Value** |
|  | **LOANS** **—** **28.4%** (a)(b) |  |  |  |  |
|  | ***ASSET-BASED*** *—* ***3.5%*** |  |  |  |  |
| 3000000 | PFF, LLC, Promissory Note |  | 12.00 | 12/19/27 | $3000000 |
| 3000000 | PFF, LLC, Promissory Note |  | 12.00 | 01/15/28 | 3000000 |
| 2000000 | PFF, LLC, Promissory Note |  | 14.50 | 05/23/29 | 2000000 |
|  |  |  |  |  | 8000000 |
|  | ***CORPORATE*** *—* ***2.2%*** | ***CORPORATE*** *—* ***2.2%*** |  |  |  |
| 1100000 | A. Stucki Company (c) | SOFR + 4.75% | 9.31 | 03/31/30 | 1091750 |
|  | A. Stucki Company - First Lien Delay Draw (c)(d) | SOFR + 4.75% |  | 09/30/26 | (1500) |
| 2500000 | Cirkul, Inc. (c)(e) | SOFR + 7.50% | PIK 15.39 | 03/31/28 | 2375462 |
| 1500000 | OD Intermediate SUBI Holdco VII LLC |  | 12.50 | 11/01/27 | 1518750 |
|  |  |  |  |  | 4984462 |
|  | ***REAL ESTATE*** *—* ***9.8%*** | ***REAL ESTATE*** *—* ***9.8%*** |  |  |  |
| 500000 | 2 Hopmeadow Street Realty Company, LLC (c) | SOFR + 6.19% | 11.00 | 10/06/25 | 500450 |
| 1000000 | 28 Pearl Street Development LLC (c) | SOFR + 6.23% | 10.56 | 12/05/25 | 1000000 |
| 400000 | 40 Connecticut Ave Associates LLC (c) | SOFR + 6.66% | 11.00 | 10/16/26 | 400000 |
| 700000 | 61 West Street Associates LLC (c) | SOFR + 6.50% | 11.00 | 12/16/25 | 700770 |
| 2000000 | Armory Market SS LLC |  | 16.00 | 04/25/26 | 2000000 |
| 800000 | BDP Bloomfield Avenue, LLC (c) | WSJ Prime + 4.50% | 13.75 | 10/01/25 | 800000 |
| 750000 | Beezle Azul LLC (c) | SOFR + 6.20% | 10.53 | 07/10/25 | 750000 |
| 800000 | Blueberry Hill II, LLC |  | 12.00 | 01/12/26 | 800000 |
| 540000 | Bojadzic Construction LLC (c) | SOFR + 6.50% | 10.83 | 10/07/25 | 540000 |
| 1250000 | Bristol Industrial Senior Loan |  | 15.00 | 01/01/26 | 1270875 |
| 1500000 | Coastal Island Developments, LLC (c) | SOFR + 6.08% | 10.41 | 04/07/26 | 1500000 |
| 1071429 | Columbia Holdings SC, LLC |  | 13.00 | 11/30/25 | 1071429 |
| 625000 | Dorset Crossing, LLC (c) | SOFR + 5.86% | 13.00 | 08/04/25 | 625250 |
| 1714286 | Fultonville Holdings NY, LLC |  | 13.00 | 11/30/25 | 1714286 |
| 800000 | Peyton Project, LLC (c) | 1M SOFR + 6.75% | 13.05 | 10/04/25 | 800000 |
| 500000 | R&R Clinton Ventures III (c) | SOFR + 6.20% | 11.53 | 10/06/25 | 500450 |
| 1400000 | Royersford Industrial Senior Loan |  | 14.00 | 12/23/25 | 1410360 |
| 2000000 | Savanna Holdings OK, LLC |  | 13.00 | 11/30/25 | 2000000 |
| 1214286 | Shorter Holdings AL, LLC |  | 13.00 | 11/30/25 | 1214286 |
| 700000 | Silver Birch Realty LLC (c) | SOFR + 6.20% | 10.53 | 07/30/25 | 700000 |
| 250000 | Tampa Industrial Senior Loan |  | 13.00 | 08/28/25 | 252225 |
| 2000000 | Windsor Street Associates, LLC, et al. (c) | 1M SOFR + 7.19% | 11.52 | 03/20/26 | 2000000 |
|  |  |  |  |  | 22550381 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Principal Amount ($)** | | **Index + Spread** | **Coupon Rate (%)** | **Maturity Date** | **Fair Value** |
|  | **LOANS — 28.4% (Continued)** (a)(b) |  |  |  |  |
|  | ***SPECIALTY*** ***FINANCE*** *—* ***12.9%*** | ***SPECIALTY*** ***FINANCE*** *—* ***12.9%*** |  |  |  |
| 1500000 | Cashco Financial, Inc. (c) | SOFR + 10.25% | 14.25 | 04/16/27 | $1521000 |
| 1500000 | CH SPV A Holding LLC (c) | SOFR + 11.25% | 15.57 | 02/14/27 | 1520100 |
| 750000 | Cliffhanger 2 Productions, LLC (o) |  |  | 07/31/25 | 956250 |
| 720000 | CR Steak LV LLC |  | 12.00 | 08/04/26 | 716328 |
| 2000000 | EZ PAY SPE, LLC (c) | SOFR + 10.55% | 14.83 | 03/24/27 | 2000000 |
| 773420 | Future Family Loan Portfolio, Class A |  | 12.00 | 05/16/30 | 786645 |
| 9609 | Future Family Loan Portfolio, Class B |  | 15.00 | 05/16/30 | 9722 |
| 284936 | IHC California LLC & Iron Horse Credit LLC (c) | SOFR + 9.50% | 13.82 | 06/30/28 | 289638 |
| 2000000 | Leasepoint Funding Group, LLC (c) | SOFR + 7.75% | 12.05 | 09/17/26 | 2000000 |
| 2500000 | Neo Finance SPV LLC (c) | SOFR + 9.50% | 13.82 | 02/11/29 | 2500000 |
| 1500000 | Nexgen Financial (c) | SOFR + 12.25% | 16.57 | 03/28/28 | 1525950 |
| 1500000 | OnRamp Funding (c) | SOFR + 12.50% | 16.32 | 02/28/27 | 1511250 |
| 1500000 | Opus Trust I/II (c) | SOFR + 10.50% | 14.08 | 02/23/26 | 1513200 |
| 1250000 | OTG Productions LLC (g) | SOFR + 12.00% |  | 09/30/25 | 1250000 |
| 2148988 | Raistone Purchasing LLC - Series XXVIII (g) |  | 16.00 | Perpetual | 2061623 |
| 1980346 | Raistone Purchasing LLC - Series XXXI (g) |  | 10.06 | Perpetual | 1958210 |
| 750000 | Riddick 4 Production LLC (o) |  |  | 08/31/25 | 908970 |
| 1500000 | Sezzle, Inc. (c) | SOFR + 10.19% | 14.51 | 04/19/27 | 1521000 |
| 2500000 | Steno Agency Funding I, LLC (c) | SOFR + 9.50% | 13.82 | 05/08/28 | 2500000 |
| 697500 | Ultra Padel Club |  | 13.00 | 11/27/27 | 697500 |
| 1500000 | Vernance Originations, LLC (c) | SOFR + 11.00% | 15.33 | 07/06/27 | 1511250 |
| 739571 | Yacht Management Services (h) |  | 12.00 | 07/21/25 | 385316 |
|  |  |  |  |  | 29643952 |
|  | **TOTAL LOANS (Cost $65,406,761)** | **TOTAL LOANS (Cost $65,406,761)** |  |  | 65178795 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Principal Amount ($)** | | **Index + Spread** | **Coupon Rate (%)** | **Maturity Date** | **Fair Value** |
|  | **COLLATERALIZED LOAN OBLIGATIONS** **—** **2.3%** (c)(i) |  |  |  |  |
| 400000 | Allegro CLO VIII-S Ltd. Series 3A E1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TSFR3M + 6.60% | 10.86 | 10/20/37 | $398214 |
| 600000 | Allegro CLO VIII-S Ltd. Series 3A E2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TSFR3M + 8.00% | 12.26 | 10/20/37 | 600408 |
| 750000 | Babson CLO Ltd. Series 4A ER | TSFR3M + 6.75% | 11.02 | 10/20/37 | 762344 |
| 1500000 | Maranon Loan Funding Ltd. Series 2A D | TSFR3M + 6.75% | 11.01 | 01/15/36 | 1510123 |
| 500000 | Maranon Loan Funding Ltd. Series 2A E | TSFR3M + 10.00% | 14.26 | 01/15/36 | 508147 |
| 1000000 | OHA Credit Partners XVII Ltd. Series 17A E | TSFR3M + 5.00% | 9.40 | 01/18/38 | 1004620 |
| 500000 | Vibrant CLO XIII Ltd. Series 13A ER | TSFR3M + 7.59% | 11.85 | 01/15/38 | 506442 |
|  | **TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $5,227,098)** |  |  |  | 5290298 |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** **—** **1.0%** | **COLLATERALIZED MORTGAGE OBLIGATIONS** **—** **1.0%** |  |  |  |
| 1779074 | Fannie Mae REMICS Series 23-17 JA |  | 5.50 | 06/25/50 | 1833545 |
| 4829927 | Government National Mortgage Association Series 2021-49 IP |  | 2.50 | 01/20/51 | 455314 |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,238,379)** |  |  |  | 2288859 |
| **Shares** |  |  |  |  |  |
|  | **PRIVATE INVESTMENT VEHICLES** **–** **3.4%** (a) |  |  |  |  |
|  | Lake Summit Alternative Loan Trust 2025-1 (b) |  |  |  | 4796045 |
|  | SP Technology Payments II, LLC (j) |  |  |  | 1545067 |
|  | Wolfe Pond Park CLO Ltd. (b)(d)(k) |  |  |  | 1500000 |
|  | **TOTAL PRIVATE INVESTMENT VEHICLES (Cost $7,796,045)** |  |  |  | 7841112 |
|  | **INVESTMENT PARTNERSHIPS** **-** **56.5%** (a) |  |  |  |  |
|  | ACORE Credit Partners II, L.P. (d)(j) |  |  |  | 6450409 |
|  | AG Asset Based Credit Fund, L.P. (d)(j) |  |  |  | 19670407 |
|  | Alcova Capital Yield Premium Fund, L.P. (j) |  |  |  | 6047012 |
|  | Altriarch Specialty Finance Fund, LP (b) |  |  |  | 7000000 |
|  | Bastion Funding V L.P. (j) |  |  |  | 2929448 |
|  | Blue Owl A4 Evergreen (Cayman) L.P. (d)(j) |  |  |  | 11856404 |
|  | Callodine Perpetual ABL Fund, LP (b)(d) |  |  |  | 4750000 |
|  | Crestline Opportunity Fund V Offshore TE/SWF, L.P. (d)(j) |  |  |  | 2729276 |
|  | Eldridge Senior Credit Strategies Fund XIV, L.P. (j) |  |  |  | 19742168 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **Shares** | | | | **Fair Value** |
|  | **INVESTMENT PARTNERSHIPS - 56.5% (Continued)** (a) |  |  |  |
|  | Fairbridge Partners L.P. (j) |  |  | $2490590 |
|  | Kennedy Lewis Residential Property Income Company LP (b)(d) |  |  | 3784038 |
|  | Medalist Partners Asset Based Private Credit Fund III LP Onshore Feeder, L.P., Class B (j)(l) |  |  | 19590544 |
|  | Rivonia Road Fund LP (j) |  |  | 4995131 |
|  | Saluda Grade Income Fund L.P. (j) |  |  | 7049887 |
|  | Sound Point Discovery Fund LLC (j) |  |  | 1516781 |
|  | The Varde CRE Lending Fund, L.P. (j) |  |  | 8979390 |
|  | **TOTAL INVESTMENT PARTNERSHIPS (Cost $128,759,691)** |  |  | 129581485 |
|  | **BUSINESS DEVELOPMENT COMPANY – 2.6%** | **BUSINESS DEVELOPMENT COMPANY – 2.6%** |  |  |
| 239617 | Stone Point Credit Income Fund (a)(b) |  |  | 6000000 |
|  | **TOTAL BUSINESS DEVELOPMENT COMPANY (Cost $6,000,000)** |  |  | 6000000 |
|  |  | **Expiration Date** | **Exercise Price** |  |
|  | **WARRANT** **S —** **0.1%** (b) |  |  |  |
| 6878 | Cirkul, Inc. Warrant Equity Value Strike | 04/16/35 | $100.00 | 32464 |
| 6706 | Cirkul, Inc. Warrant Share Strike | 04/16/35 | 100.00 | 92073 |
|  | **TOTAL WARRANTS (Cost $124,537)** |  |  | 124537 |
|  | **SHORT-TERM INVESTMENT - 4.0%** | **SHORT-TERM INVESTMENT - 4.0%** |  |  |
|  | ***MONEY MARKET FUND*** ***-*** ***4.0%*** | ***MONEY MARKET FUND*** ***-*** ***4.0%*** |  |  |
| 9214828 | First American Treasury Obligations Fund, Class X, 4.24% (m) |  |  | 9214828 |
|  | **TOTAL SHORT-TERM INVESTMENT (Cost $9,214,828)** |  |  | 9214828 |
|  | **TOTAL INVESTMENTS - 98.3% (Cost $224,767,339)** | **TOTAL INVESTMENTS - 98.3% (Cost $224,767,339)** |  | $225519914 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 1.7%** (n) |  |  | 3989750 |
|  | **NET ASSETS - 100.0%** |  |  | $229509664 |

---

---

| | |
|:---|:---|
| **NOMURA ALTERNATIVE INCOME FUND** | **NOMURA ALTERNATIVE INCOME FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **June 30, 2025** | **June 30, 2025** |
| CLO | - Collateralized Loan Obligation |
| H15T1Y | - 1 Year Treasury Rate |
| LLC | - Limited Liability Company |
| L.P. | - Limited Partnership |
| Ltd. | - Limited Company |
| PIK | - Payment-in-kind |
| REMIC | - Real Estate Mortgage Investment Conduit |
| SOFR | - Secured Overnight Financing Rate |
| TSFR3M | - 3 Month Term Secured Overnight Financing Rate |
| WSJ Prime | - Wall Street Journal Prime Rate |
|  | <br> **Reference Rates:** |
|  | 1 Year Treasury Rate as of June 30, 2025 was 4.03%. |
|  | 3 Month Term Secured Overnight Financing Rate as of June 30, 2025 was 4.35%. |
|  | Secured Overnight Financing Rate as of June 30, 2025 was 4.41%. |
|  | Wall Street Journal Prime Rate as of June 30, 2025 was 7.50%. |

---

<sup>(a)</sup> Restricted Security. Please refer to the Restricted Securities Table below.

<sup>(b)</sup> Level 3 securities fair valued using significant unobservable inputs.

<sup>(c)</sup> Variable rate investment. Interest rate shown reflects the rate in effect at June 30, 2025 is based on the reference rate plus the displayed spread as of the security's last reset date. Interest rates reset periodically.

<sup>(d)</sup> This investment has an unfunded commitment as of June 30, 2025.

<sup>(e)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash.

<sup>(f)</sup> The interest rate and maturity date presented are adjusted periodically based on the terms set forth in the investment's offering documents. Rate and maturity date shown are effective at period end.

<sup>(g)</sup> The interest rate presented is adjusted periodically based on the terms of the loan agreement. Rate shown is effective at period end.

<sup>(h)</sup> Contractual rate presented but as of June 30, 2025 the Fund has ceased income accrual as the security is in default.

<sup>(i)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2025, the total market value of 144A securities is $5,290,298 or 2.3% of net assets.

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

<sup>(k)</sup> Investment is a Collateralized Loan Obligation Warehouse which is an entity organized for the purpose of holding syndicated bank loans, also known as leveraged loans, prior to the issuance of securities from that same vehicle.

<sup>(l)</sup> The Fund's interest in this investment is held through a wholly-owned subsidiary of the Fund, NAIF Splitter LLC.

<sup>(m)</sup> Rate disclosed is the seven day effective yield as of June 30, 2025.

<sup>(n)</sup> Includes cash held as collateral for futures contracts.

<sup>(o)</sup> The interest rate and maturity date presented are adjusted periodically based on the terms set forth in the investment's offering documents. Maximum interest has been fully accrued prior to June 30, 2025 and has ceased accruing. Payment of principal and interest is pending following the conclusion of the investment period.

Restricted Securities – Restricted securities are securities that may be resold only upon registration under federal securities laws or in transactions exempt from such registration. In some cases, the issuer of restricted securities has agreed to register such securities for resale, at the issuer's expense either upon demand by the Fund or in connection with another registered offering of the securities. Many restricted securities may be resold in the secondary market in transactions exempt from registration. Such restricted securities may be determined to be liquid under criteria established by the Board. The restricted securities may be valued at the price provided by dealers in the secondary market or, if no market prices are available, the fair value as determined in good faith using methods approved by the Board. The private investment funds and loans generally are restricted securities that are subject to substantial holding periods and are not traded in public markets, so that the Fund may not be able to resell some of its investments for extended periods, which may be several years.

**NOMURA ALTERNATIVE INCOME FUND**

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

**June 30, 2025**

Additional information on each restricted investment held by the Fund at June 30, 2025 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security** | **Acquisition Date** | **Cost** | **Value** | **% of Net Assets** |
| 2 Hopmeadow Street Realty Company, LLC | 7/29/2024 | $500000 | $500450 | 0.2% |
| 28 Pearl Street Development LLC | 12/17/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000000 | 0.4% |
| 40 Connecticut Ave Associates LLC | 10/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | 0.2% |
| 61 West Street Associates LLC | 7/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700770 | 0.3% |
| A. Stucki Company | 3/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091750 | 0.5% |
| A. Stucki Company - First Lien Delay Draw | 3/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1500) | 0.0% |
| ACORE Credit Partners II, LP | 3/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6518351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6450409 | 2.8% |
| AG Asset Based Credit Fund L.P. | 9/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18451603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19670407 | 8.6% |
| Alcova Capital Yield Premium Fund, L.P. | 3/18/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6047012 | 2.6% |
| Altriarch Specialty Finance Fund, L.P. | 6/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | 3.0% |
| Armory Market SS, LLC | 4/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| Bastion Funding V L.P. | 10/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929448 | 1.3% |
| BDP Bloomfield Avenue, LLC | 1/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | 0.3% |
| Beezle Azul LLC | 12/19/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | 0.3% |
| Blue Owl A4 Evergreen (Cayman) LP | 4/4/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11418717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11856404 | 5.2% |
| Blueberry Hill II, LLC | 1/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | 0.3% |
| Bojadzic Construction LLC | 12/19/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | 0.2% |
| Bristol Industrial Senior Loan | 3/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270875 | 0.6% |
| Callodine Perpetual ABL Fund, LP | 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4750000 | 2.1% |
| Cashco Financial, Inc. | 9/20/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1521000 | 0.7% |
| CH SPV A Holding LLC | 9/20/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520100 | 0.7% |
| Cirkul, Inc. | 4/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2375462 | 1.0% |
| Cliffhanger 2 Productions, LLC | 7/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956250 | 0.4% |
| Coastal Island Developments, LLC | 4/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 0.6% |
| Columbia Holdings SC, LLC, LV Petroleum, LLC | 5/5/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071429 | 0.5% |
| CR Steak LV LLC | 1/10/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716328 | 0.3% |
| Crestline Opportunity Fund V Offshore TE/SWF, L.P. | 9/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2332927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2729276 | 1.2% |
| Dorset Crossing, LLC | 7/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625250 | 0.3% |
| Eldridge Senior Credit Strategies Fund XIV, L.P. | 4/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20257410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19742168 | 8.6% |
| EZ Pay SPE, LLC | 4/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| Fairbridge Partners L.P. | 3/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490590 | 1.1% |
| Fultonville Holdings NY, LLC, LV Petroleum, LLC | 5/5/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714286 | 0.7% |
| Future Family Loan Portfolio, Class A | 5/16/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786645 | 0.3% |
| Future Family Loan Portfolio, Class B | 5/16/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9722 | 0.0% |
| IHC California LLC & Iron Horse Credit LLC | 8/9/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289638 | 0.1% |
| Kennedy Lewis Residential Property Income Company LP | 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784038 | 1.6% |
| Lake Summit Alternative Loan Trust 2025-1 | 3/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4796045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4796045 | 2.1% |
| Leasepoint Funding Group, LLC | 2/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| Medalist Partners Asset Based Private Credit Fund III LP Onshore Feeder, LP – Class B | 3/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20228944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19590544 | 8.5% |
| Neo Finance SPV LLC | 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | 1.1% |
| Nexgen Financial | 9/20/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525950 | 0.7% |
| OD Intermediate SUBI Holdco VII LLC | 2/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518750 | 0.7% |
| OnRamp Funding | 11/27/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511250 | 0.7% |
| Opus Trust I/II | 9/20/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513200 | 0.7% |
| OTG Productions LLC | 9/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | 0.5% |
| Peyton Project, LLC | 1/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | 0.3% |
| PFF, LLC, Promissory Note | 12/19/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | 1.3% |
| PFF, LLC, Promissory Note | 1/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | 1.3% |
| PFF, LLC, Promissory Note | 5/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| R&R Clinton Ventures III | 7/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500450 | 0.2% |
| Raistone Purchasing LLC - Series XXVII | 4/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061623 | 0.9% |
| Raistone Purchasing LLC - Series XXXI | 8/6/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958210 | 0.8% |
| Riddick 4 Production LLC | 9/4/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908970 | 0.4% |
| Rivonia Road Fund LP | 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4995131 | 2.2% |
| Royersford Industrial Senior Loan | 3/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410360 | 0.6% |
| Saluda Grade Income Fund L.P. | 2/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7017702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7049887 | 3.1% |
| Savanna Holdings OK, LLC, LV Petroleum, LLC | 5/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| Sezzle, Inc. | 9/20/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1521000 | 0.7% |
| Shorter Holdings AL, LLC, LV Petroleum, LLC | 5/5/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214286 | 0.5% |
| Silver Birch Realty LLC | 12/19/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | 0.3% |
| Sound Point Discovery Fund LLC | 4/3/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516781 | 0.7% |
| SP Technology Payments II, LLC | 4/4/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545067 | 0.7% |
| Steno Agency Funding I, LLC | 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | 1.1% |
| Stone Point Credit Income Fund | 4/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | 2.6% |
| Tampa Industrial Senior Loan | 3/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252225 | 0.1% |
| The Varde CRE Lending Fund, L.P. | 1/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8979390 | 3.9% |
| Ultra Padel Club | 1/10/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697500 | 0.3% |
| Vernance Originations, LLC | 11/27/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511250 | 0.7% |
| Windsor Street Associates, LLC, et al. | 2/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| Wolfe Pond Park CLO | 2/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 0.6% |
| Yacht Management Services | 1/10/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385316 | 0.2% |
|  |  | $207962497 | $208601392 | 90.9% |

---

**NOMURA ALTERNATIVE INCOME FUND**

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

**June 30, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security** | **Acquisition Date** | **Cost** | **Value** | **% of Net Assets** |
| EZ Pay SPE, LLC | 4/30/2025 | $2000000 | $2000000 | 0.9% |
| Fairbridge Partners L.P. | 3/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490590 | 1.1% |
| Fultonville Holdings NY, LLC, LV Petroleum, LLC | 5/5/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714286 | 0.7% |
| Future Family Loan Portfolio, Class A | 5/16/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786645 | 0.3% |
| Future Family Loan Portfolio, Class B | 5/16/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9722 | 0.0% |
| IHC California LLC & Iron Horse Credit LLC | 8/9/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289638 | 0.1% |
| Kennedy Lewis Residential Property Income Company LP | 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784038 | 1.6% |
| Lake Summit Alternative Loan Trust 2025-1 | 3/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4796045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4796045 | 2.1% |
| Leasepoint Funding Group, LLC | 2/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| Medalist Partners Asset Based Private Credit Fund III LP Onshore Feeder, LP – Class B | 3/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20228944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19590544 | 8.5% |
| Neo Finance SPV LLC | 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | 1.1% |
| Nexgen Financial | 9/20/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525950 | 0.7% |
| OD Intermediate SUBI Holdco VII LLC | 2/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518750 | 0.7% |
| OnRamp Funding | 11/27/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511250 | 0.7% |
| Opus Trust I/II | 9/20/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513200 | 0.7% |
| OTG Productions LLC | 9/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250000 | 0.5% |
| Peyton Project, LLC | 1/8/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | 0.3% |
| PFF, LLC, Promissory Note | 12/19/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | 1.3% |
| PFF, LLC, Promissory Note | 1/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | 1.3% |
| PFF, LLC, Promissory Note | 5/23/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| R&R Clinton Ventures III | 7/29/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500450 | 0.2% |
| Raistone Purchasing LLC - Series XXVII | 4/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061623 | 0.9% |
| Raistone Purchasing LLC - Series XXXI | 8/6/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958210 | 0.8% |
| Riddick 4 Production LLC | 9/4/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908970 | 0.4% |
| Rivonia Road Fund LP | 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4995131 | 2.2% |
| Royersford Industrial Senior Loan | 3/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410360 | 0.6% |
| Saluda Grade Income Fund L.P. | 2/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7017702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7049887 | 3.1% |
| Savanna Holdings OK, LLC, LV Petroleum, LLC | 5/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| Sezzle, Inc. | 9/20/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1521000 | 0.7% |
| Shorter Holdings AL, LLC, LV Petroleum, LLC | 5/5/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214286 | 0.5% |
| Silver Birch Realty LLC | 12/19/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | 0.3% |
| Sound Point Discovery Fund LLC | 4/3/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516781 | 0.7% |
| SP Technology Payments II, LLC | 4/4/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545067 | 0.7% |
| Steno Agency Funding I, LLC | 5/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | 1.1% |
| Stone Point Credit Income Fund | 4/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | 2.6% |
| Tampa Industrial Senior Loan | 3/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252225 | 0.1% |
| The Varde CRE Lending Fund, L.P. | 1/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8979390 | 3.9% |
| Ultra Padel Club | 1/10/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697500 | 0.3% |
| Vernance Originations, LLC | 11/27/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511250 | 0.7% |
| Windsor Street Associates, LLC, et al. | 2/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | 0.9% |
| Wolfe Pond Park CLO | 2/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500000 | 0.6% |
| Yacht Management Services | 1/10/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385316 | 0.2% |
|  |  | $207962497 | $208601392 | 90.9% |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Nomura Alternative Income Fund

- **b. Investment Company Act file number:** 811-23826

- **c. CIK number of Registrant:** 0001944664

- **d. LEI of Registrant:** 549300A59FYTUHL9TJ86

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

  - **Street Address 1:** Worldwide Plaza

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10019

  - **Telephone number:** 212-667-9000

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

- **a. Name of Series:** Nomura Alternative Income Fund

- **c. LEI of Series:** 549300A59FYTUHL9TJ86

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $231628957.66

**Total Liabilities:** $6217934.53

**Net Assets:** $225411023.13

**Cash Not Reported:** $5232.71

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.62%                | 0.85%                | 0.72%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $68688.69                | $-74887.41                                 |
| Month 2  | $4572.72                 | $-239592.34                                |
| Month 3  | $1530.38                 | $87652.70                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 61 West Street Associates LLC                      | 61 West Street Associates LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    700000 | PA      | $700770.00    | 0.31%             | 2025-12-16      | Variable      | 11.15%                | Yes           | 3                  | On Loan: No      |
| Silver Birch Realty LLC                            | Silver Birch Realty LLC                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    700000 | PA      | $700000.00    | 0.31%             | 2025-07-30      | Variable      | 10.72%                | Yes           | 3                  | On Loan: No      |
| Sound Point Discovery Fund LLC                     | Sound Point Discovery Fund LLC                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   1516781 | NS      | $1516780.94   | 0.67%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Alcova Capital Yield Premium Fund, L.P.            | Alcova Capital Yield Premium Fund, L.P.            | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   6047012 | NS      | $6047012.07   | 2.68%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Armory Market SS LLC                               | Armory Market SS LLC                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.89%             | 2026-04-25      | Variable      | 16.00%                | Yes           | 3                  | On Loan: No      |
| Future Family Loan Portfolio Class B               | Future Family Loan Portfolio Class B               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |      9609 | PA      | $9722.37      | 0.00%             | 2030-05-16      | Fixed         | 15.00%                | Yes           | 3                  | On Loan: No      |
| A. Stucki Company                                  | A. Stucki Company                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1100000 | PA      | $1091750.00   | 0.48%             | 2030-03-31      | Variable      | 9.08%                 | Yes           | 3                  | On Loan: No      |
| The Varde CRE Lending Fund, L.P.                   | The Varde CRE Lending Fund, L.P.                   | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   8979390 | NS      | $8979389.91   | 3.98%             |  |  |  | Yes           | N/A                | On Loan: No      |
| OHA CREDIT PARTNERS XVII LTD                       | OHA Credit Partners XVII Ltd                       | CUSIP: 67120NAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1004619.90   | 0.45%             | 2038-01-18      | Floating      | 9.40%                 | Yes           | 2                  | On Loan: No      |
| A. Stucki Company                                  | A. Stucki Company DDTL - UNFND                     | CUSIP: N/A<br>LEI: N/A                        | Short            | LON              | CORP              | US        |   -400000 | PA      | $-1500.00     | -0.00%            | 2026-09-30      | Variable      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Raistone Purchasing LLC - Series XXVIII            | Raistone Purchasing LLC - Series XXVIII            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2148988 | PA      | $2061622.53   | 0.91%             | 2025-10-08      | Variable      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Cirkul, Inc.                                       | Cirkul, Inc. Warrant Share Strike                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6706 | NS      | $92073.38     | 0.04%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Vernance Originations, LLC                         | Vernance Originations, LLC                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1511250.00   | 0.67%             | 2027-07-06      | Variable      | 15.50%                | Yes           | 3                  | On Loan: No      |
| Maranon Loan Funding Ltd                           | Maranon Loan Funding Ltd                           | CUSIP: 565926AG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1500000 | PA      | $1510122.60   | 0.67%             | 2036-01-15      | Floating      | 11.01%                | Yes           | 2                  | On Loan: No      |
| Dorset Crossing, LLC                               | Dorset Crossing, LLC                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    625000 | PA      | $625250.00    | 0.28%             | 2025-08-04      | Variable      | 13.00%                | Yes           | 3                  | On Loan: No      |
| Altriarch Specialty Finance Fund, LP               | Altriarch Specialty Finance Fund, LP               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   7000000 | NS      | $7000000.00   | 3.11%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Ultra Padel Club                                   | Ultra Padel Club                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    697500 | PA      | $697500.00    | 0.31%             | 2027-11-27      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| Coastal Island Developments, LLC                   | Coastal Island Developments, LLC                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1500000.00   | 0.67%             | 2026-04-07      | Variable      | 10.40%                | Yes           | 3                  | On Loan: No      |
| Leasepoint Funding Group, LLC                      | Leasepoint Funding Group, LLC                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.89%             | 2026-09-17      | Variable      | 12.10%                | Yes           | 3                  | On Loan: No      |
| Nexgen Financial                                   | Nexgen Financial                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1525950.00   | 0.68%             | 2028-03-28      | Variable      | 16.71%                | Yes           | 3                  | On Loan: No      |
| ACORE Credit Partners II, LP                       | ACORE Credit Partners II, LP                       | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   6450409 | NS      | $6450408.73   | 2.86%             |  |  |  | Yes           | N/A                | On Loan: No      |
| IHC California LLC and Iron Horse Credit LLC       | IHC California LLC and Iron Horse Credit LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    284936 | PA      | $289637.71    | 0.13%             | 2028-06-30      | Variable      | 11.19%                | Yes           | 3                  | On Loan: No      |
| Royersford Industrial Senior Loan                  | Royersford Industrial Senior Loan                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1400000 | PA      | $1410360.00   | 0.63%             | 2025-12-23      | Fixed         | 14.00%                | Yes           | 3                  | On Loan: No      |
| Cirkul, Inc.                                       | Cirkul, Inc. Warrant Equity Value Strike           | CUSIP: N/A<br>LEI: N/A                        | Long             | DE               | CORP              | US        |      6878 | NS      | $32464.16     | 0.01%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Cirkul, Inc.                                       | Cirkul, Inc.                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2500000 | PA      | $2375462.46   | 1.05%             | 2028-03-31      | Variable      | 15.38%                | Yes           | 3                  | On Loan: No      |
| Cliffhanger 2 Productions, LLC                     | Cliffhanger 2 Productions, LLC                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    750000 | PA      | $956250.00    | 0.42%             | 2025-07-31      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Eldridge Senior Credit Strategies Fund XIV, L.P.   | Eldridge Senior Credit Strategies Fund XIV, L.P.   | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |  19742168 | NS      | $19742168.12  | 8.76%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Neo Finance SPV LLC                                | Neo Finance SPV LLC                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2500000 | PA      | $2500000.00   | 1.11%             | 2029-02-11      | Variable      | 13.77%                | Yes           | 3                  | On Loan: No      |
| KENNEDY LEWIS RESIDENTIAL PROPERTY INCOME CO LP    | KENNEDY LEWIS RESIDENTIAL PROPERTY INCOME CO LP    | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   3784038 | NS      | $3784038.00   | 1.68%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Medalist Partners, L.P.                            | Medalist Partners, L.P.                            | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |  19590544 | NS      | $19590544.16  | 8.69%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CALLODINE PERPETUAL ABL FUND, LP                   | CALLODINE PERPETUAL ABL FUND, LP                   | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   4750000 | NS      | $4750000.00   | 2.11%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Wolfe Pond Park CLO                                | Wolfe Pond Park CLO                                | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   1500000 | NS      | $1500000.00   | 0.67%             |  |  |  | Yes           | 3                  | On Loan: No      |
| CR Steak LV LLC                                    | CR STEAK LV LLC                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    720000 | PA      | $716328.00    | 0.32%             | 2026-08-04      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| OD Intermediate SUBI Holdco VII LLC                | OD Intermediate SUBI Holdco VII LLC                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1518750.00   | 0.67%             | 2027-11-01      | Variable      | 12.50%                | Yes           | 3                  | On Loan: No      |
| PFF, LLC                                           | PFF, LLC                                           | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | US        |   3000000 | PA      | $3000000.00   | 1.33%             | 2027-12-20      | Variable      | 12.00%                | Yes           | 3                  | On Loan: No      |
| Cashco Financial Inc.                              | Cashco Financial Inc.                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1521000.00   | 0.67%             | 2027-04-16      | Variable      | 14.25%                | Yes           | 3                  | On Loan: No      |
| Steno Agency Funding I, LLC                        | Steno Agency Funding I, LLC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2500000 | PA      | $2500000.00   | 1.11%             | 2028-05-08      | Variable      | 13.77%                | Yes           | 3                  | On Loan: No      |
| SP Technology Payments II, LLC                     | SP Technology Payments II, LLC                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   1545067 | NS      | $1545067.03   | 0.69%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Windsor Street Associates, LLC, et al.             | Windsor Street Associates, LLC, et al.             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.89%             | 2026-03-20      | Variable      | 11.52%                | Yes           | 3                  | On Loan: No      |
| BDP BLOOMFIELD AVENUE, LLC                         | BDP BLOOMFIELD AVENUE, LLC                         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    800000 | PA      | $800000.00    | 0.35%             | 2025-10-01      | Variable      | 13.75%                | Yes           | 3                  | On Loan: No      |
| OnRamp Funding                                     | OnRamp Funding                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1511250.00   | 0.67%             | 2027-02-28      | Variable      | 16.96%                | Yes           | 3                  | On Loan: No      |
| OTG Productions LLC                                | OTG Productions LLC                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1250000 | PA      | $1250000.00   | 0.55%             | 2025-09-30      | Variable      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Yacht Management Services                          | Yacht Management Services                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    739571 | PA      | $385316.33    | 0.17%             | 2025-07-21      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| STONE POINT CREDIT INCOME FUND                     | STONE POINT CREDIT INCOME FUND                     | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   6000000 | NS      | $6000000.00   | 2.66%             |  |  |  | Yes           | 3                  | On Loan: No      |
| COLUMBIA HOLDINGS SC, LLC, LV PETROLEUM, LLC       | COLUMBIA HOLDINGS SC, LLC, LV PETROLEUM, LLC       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1071429 | PA      | $1071428.54   | 0.48%             | 2025-11-30      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| Tampa Industrial Senior Loan                       | Tampa Industrial Senior Loan                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    250000 | PA      | $252225.00    | 0.11%             | 2025-08-28      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| Crestline Opportunity Fund V Offshore TE/SWF, L.P. | Crestline Opportunity Fund V Offshore TE/SWF, L.P. | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2729276 | NS      | $2729276.11   | 1.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Opus Trust I/II                                    | Opus Trust I/II                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1513200.00   | 0.67%             | 2026-02-23      | Variable      | 15.00%                | Yes           | 3                  | On Loan: No      |
| PFF, LLC                                           | PFF, LLC                                           | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | US        |   3000000 | PA      | $3000000.00   | 1.33%             | 2028-01-15      | Variable      | 12.00%                | Yes           | 3                  | On Loan: No      |
| SHORTER HOLDINGS AL, LLC, LV PETROLEUM, LLC        | SHORTER HOLDINGS AL, LLC, LV PETROLEUM, LLC        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1214286 | PA      | $1214285.73   | 0.54%             | 2025-11-30      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| Fairbridge Partners L.P.                           | Fairbridge Partners L.P.                           | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2490590 | NS      | $2490589.76   | 1.10%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Bristol Industrial Senior Loan                     | Bristol Industrial Senior Loan                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1250000 | PA      | $1270875.00   | 0.56%             | 2026-01-01      | Fixed         | 15.00%                | Yes           | 3                  | On Loan: No      |
| Federal National Mortgage Association              | Fannie Mae REMICS                                  | CUSIP: 3136BPX48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1779074 | PA      | $1833545.41   | 0.81%             | 2050-06-25      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Future Family Loan Portfolio Class A               | Future Family Loan Portfolio Class A               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    773420 | PA      | $786645.39    | 0.35%             | 2030-05-16      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |
| Sezzle Inc.                                        | Sezzle Inc.                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1521000.00   | 0.67%             | 2027-04-19      | Variable      | 14.65%                | Yes           | 3                  | On Loan: No      |
| A. Stucki Company                                  | A. Stucki Company DDTL - FUNDED                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    400000 | PA      | $0.00         | 0.00%             | 2026-09-30      | Variable      | 0.00%                 | Yes           | 3                  | On Loan: No      |
| EZ PAY SPE, LLC                                    | EZ PAY SPE, LLC                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.89%             | 2027-03-24      | Variable      | 14.83%                | Yes           | 3                  | On Loan: No      |
| Lake Summit Alternative Loan Trust 2025-1          | Lake Summit Alternative Loan Trust 2025-1          | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   4796045 | NS      | $4796045.03   | 2.13%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Vibrant CLO XIII Ltd                               | Vibrant CLO XIII Ltd                               | CUSIP: 92557CAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $506442.40    | 0.22%             | 2038-01-15      | Floating      | 11.85%                | Yes           | 2                  | On Loan: No      |
| AG Asset Based Credit Fund LP                      | AG Asset Based Credit Fund LP                      | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |  19670407 | NS      | $19670406.61  | 8.73%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CH SPV A Holding LLC                               | CH SPV A Holding LLC                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1500000 | PA      | $1520100.00   | 0.67%             | 2027-02-14      | Variable      | 15.72%                | Yes           | 3                  | On Loan: No      |
| 2 Hopmeadow Street Realty Co., LLC                 | 2 Hopmeadow Street Realty Co., LLC                 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    500000 | PA      | $500450.00    | 0.22%             | 2025-10-06      | Variable      | 11.00%                | Yes           | 3                  | On Loan: No      |
| Saluda Grade Income Fund LP                        | Saluda Grade Income Fund LP                        | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   7049887 | NS      | $7049886.57   | 3.13%             |  |  |  | Yes           | N/A                | On Loan: No      |
| 40 Connecticut Ave Associates LLC                  | 40 Connecticut Ave Associates LLC                  | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    400000 | PA      | $400000.00    | 0.18%             | 2026-10-16      | Variable      | 11.31%                | Yes           | 3                  | On Loan: No      |
| Bastion Funding V LP                               | Bastion Funding V LP                               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   2929448 | NS      | $2929447.94   | 1.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SAVANNA HOLDINGS OK, LLC, LV PETROLEUM, LLC        | SAVANNA HOLDINGS OK, LLC, LV PETROLEUM, LLC        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.89%             | 2025-11-30      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| Riddick 4 Production LLC                           | Riddick 4 Production LLC                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    750000 | PA      | $908970.00    | 0.40%             | 2025-08-31      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| Blue Owl A4 Evergreen (Cayman) LP                  | Blue Owl A4 Evergreen (Cayman) LP                  | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |  11856404 | NS      | $11856403.86  | 5.26%             |  |  |  | Yes           | N/A                | On Loan: No      |
| BABSN 2022-4A ER                                   | Babson CLO Ltd                                     | CUSIP: 06763JAE2<br>LEI: 549300NRFNRCBGSJ3239 | Long             | ABS-CBDO         | CORP              | US        |    750000 | PA      | $762343.88    | 0.34%             | 2037-10-20      | Variable      | 11.02%                | Yes           | 2                  | On Loan: No      |
| Maranon Loan Funding Ltd                           | Maranon Loan Funding Ltd                           | CUSIP: 565926AJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $508147.30    | 0.23%             | 2036-01-15      | Floating      | 14.26%                | Yes           | 2                  | On Loan: No      |
| Beezle Azul LLC                                    | Beezle Azul LLC                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    750000 | PA      | $750000.00    | 0.33%             | 2025-07-10      | Variable      | 10.72%                | Yes           | 3                  | On Loan: No      |
| PEYTON PROJECT, LLC                                | PEYTON PROJECT, LLC                                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    800000 | PA      | $800000.00    | 0.35%             | 2025-10-04      | Variable      | 12.05%                | Yes           | 3                  | On Loan: No      |
| R&R Clinton Ventures III                           | R&R Clinton Ventures III                           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    500000 | PA      | $500450.00    | 0.22%             | 2025-10-06      | Variable      | 11.85%                | Yes           | 3                  | On Loan: No      |
| Government National Mortgage Association           | Government National Mortgage Association           | CUSIP: 38382P2H4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   4829927 | PA      | $455313.88    | 0.20%             | 2051-01-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| 28 Pearl Street Development LLC                    | 28 Pearl Street Development LLC                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.44%             | 2025-12-05      | Variable      | 10.75%                | Yes           | 3                  | On Loan: No      |
| RIVONIA ROAD FUND LP                               | RIVONIA ROAD FUND LP                               | CUSIP: N/A<br>LEI: N/A                        | Long             |  | PF                | US        |   4995131 | NS      | $4995131.38   | 2.22%             |  |  |  | Yes           | N/A                | On Loan: No      |
| PFF, LLC                                           | PFF, LLC                                           | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | US        |   2000000 | PA      | $2000000.00   | 0.89%             | 2029-05-23      | Fixed         | 14.50%                | Yes           | 3                  | On Loan: No      |
| ALLEGRO CLO VIII-S LTD                             | Allegro Clo VIII-S Ltd                             | CUSIP: 01751KAA2<br>LEI: 2138003DNNDDZP6FWT45 | Long             | ABS-CBDO         | CORP              | US        |    400000 | PA      | $398213.84    | 0.18%             | 2037-10-20      | Floating      | 10.86%                | Yes           | 2                  | On Loan: No      |
| Raistone Purchasing LLC - Series XXXI              | Raistone Purchasing LLC - Series XXXI              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1980346 | PA      | $1958209.94   | 0.87%             | 2025-09-02      | Fixed         | 0.00%                 | Yes           | 3                  | On Loan: No      |
| First American Funds Inc.                          | First American Treasury Obligations Fund           | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   9175611 | PA      | $9175610.93   | 4.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Bojadzic Construction LLC                          | Bojadzic Construction LLC                          | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    540000 | PA      | $540000.00    | 0.24%             | 2025-10-07      | Variable      | 10.72%                | Yes           | 3                  | On Loan: No      |
| FULTONVILLE HOLDINGS NY, LLC, LV PETROLEUM, LLC    | FULTONVILLE HOLDINGS NY, LLC, LV PETROLEUM, LLC    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1714286 | PA      | $1714285.73   | 0.76%             | 2025-11-30      | Fixed         | 13.00%                | Yes           | 3                  | On Loan: No      |
| ALLEGRO CLO VIII-S LTD                             | Allegro Clo VIII-S Ltd                             | CUSIP: 01751KAL8<br>LEI: 2138003DNNDDZP6FWT45 | Long             | ABS-CBDO         | CORP              | US        |    600000 | PA      | $600408.33    | 0.27%             | 2037-10-20      | Floating      | 12.26%                | Yes           | 2                  | On Loan: No      |
| BLUEBERRY HILL II, LLC                             | BLUEBERRY HILL II, LLC                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    800000 | PA      | $800000.00    | 0.35%             | 2026-01-12      | Fixed         | 12.00%                | Yes           | 3                  | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Nomura Alternative Income Fund

**Signature:** Madeline Arment

**Name of Signer:** Madeline Arment

**Title:** Treasurer