# EDGAR Filing Document

**Accession Number:** 0001816389
**File Stem:** 0001752724-25-204454
**Filing Date:** 2025-8
**Character Count:** 194368
**Document Hash:** bbf270c627da1eb156d6394789facbc5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-204454.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-204454

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Private Investments Fund
- **CENTRAL INDEX KEY:** 0001816389

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23584
- **FILM NUMBER:** 251254602

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLVIEW PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800 882 0052

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLVIEW PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Nport-Ex

June 30, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**BlackRock Private Investments Fund**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Consolidated Schedule of Investments (unaudited)

June 30, 2025

**BlackRock Private Investments Fund** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | |
|:---|:---|:---|
| *Security* | *Shares/* <br>*Par (000)*<br>| *Value* |
| **Private Equity Investments** | **Private Equity Investments** | **Private Equity Investments** |
| **Direct Investments — 65.5%**<sup>(a)(b)(c)</sup> | **Direct Investments — 65.5%**<sup>(a)(b)(c)</sup> | **Direct Investments — 65.5%**<sup>(a)(b)(c)</sup> |
| **Aerospace & Defense — 2.5%** | **Aerospace & Defense — 2.5%** |  |
| Sierra Space Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A Preferred Shares (Acquired 12/01/21, Cost: <br> $1,582,326)<br>| 157964 | &nbsp;&nbsp; $1702041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B Preferred Shares (Acquired 09/22/23, Cost: <br> $64,891)<br>| 5768 | &nbsp;&nbsp; 67827 |
| &nbsp;&nbsp;&nbsp; Yellowstone Ultimate Holdings LP (Acquired 11/08/22, <br> Cost: $5,095,913)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 7200105 |
|  |  | &nbsp;&nbsp; 8969973 |
| **Automobile Components — 0.9%** | **Automobile Components — 0.9%** |  |
| &nbsp;&nbsp;&nbsp; PACP Carta Co-Invest, LP (Acquired 05/24/24, Cost: <br> $2,231,119)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 3435400 |
| **Biotechnology — 1.2%** | **Biotechnology — 1.2%** |  |
| &nbsp;&nbsp;&nbsp; Lotus Co-Invest LP (Acquired 10/31/22, Cost: <br> $2,659,796)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 4466857 |
| **Broadline Retail — 0.9%** | **Broadline Retail — 0.9%** |  |
| Attentive Mobile, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Shares (Acquired 04/16/21, Cost: <br> $2,181,218)<br>| 74536 | &nbsp;&nbsp; 2646028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A1 Preferred Shares (Acquired 04/16/21, Cost: <br> $595,026)<br>| 13033 | &nbsp;&nbsp; 462671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B Preferred Shares (Acquired 04/16/21, Cost: <br> $94,643)<br>| 2073 | &nbsp;&nbsp; 73592 |
|  |  | &nbsp;&nbsp; 3182291 |
| **Capital Markets — 3.9%** | **Capital Markets — 3.9%** |  |
| &nbsp;&nbsp;&nbsp; NC Harp Co-Invest Beta, LP (Acquired 03/17/25, Cost: <br> $12,898,190)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 13961689 |
| **Chemicals — 2.0%** | **Chemicals — 2.0%** |  |
| &nbsp;&nbsp;&nbsp; PSP AGFS Co-Investment Fund III, LP (Acquired <br> 11/22/23, Cost: $5,708,731)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 7344117 |
| **Commercial Services & Supplies — 2.6%** | **Commercial Services & Supplies — 2.6%** |  |
| &nbsp;&nbsp;&nbsp; Horizon Co-Investment, LP (Acquired 06/10/22, Cost: <br> $1,786,032)<sup>(e)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 2092535 |
| &nbsp;&nbsp;&nbsp; NP Salon Co-Investment LP I (Acquired 04/08/21, Cost: <br> $2,000,000)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1346648 |
| &nbsp;&nbsp;&nbsp; STAR Victor Co-investment LP (Acquired 09/13/24, Cost: <br> $5,274,054)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 5859700 |
|  |  | &nbsp;&nbsp; 9298883 |
| **Construction & Engineering — 1.5%** | **Construction & Engineering — 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Lindsay Goldberg - Torrey Co-Inv. LP (Acquired 08/28/24, <br> Cost: $4,775,866)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 5282667 |
| **Consumer Finance — 1.3%** | **Consumer Finance — 1.3%** |  |
| &nbsp;&nbsp;&nbsp; Campus Co-Investment, LP (Acquired 03/12/24, Cost: <br> $2,606,042)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 4521727 |
| **Diversified Consumer Services — 2.7%** | **Diversified Consumer Services — 2.7%** |  |
| &nbsp;&nbsp;&nbsp; TPG Eternal Co-Invest II, LP (Acquired 11/14/23, Cost: <br> $4,122,016)<sup>(e)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 5139049 |
| &nbsp;&nbsp;&nbsp; Vistria Soliant Holdings, LP (Acquired 07/17/24, Cost: <br> $4,372,048)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 4444917 |
|  |  | &nbsp;&nbsp; 9583966 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Shares/*<br> *Par (000)*<br>| *Value* |
| **Entertainment — 2.4%** | **Entertainment — 2.4%** | **Entertainment — 2.4%** |  |
| &nbsp;&nbsp;&nbsp; Aleph Infinity Investors 2 LP (Acquired 04/28/22, Cost: <br> $4,792,321)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; $3793069 |
| &nbsp;&nbsp;&nbsp; RB Rouge Co-Invest B LP (Acquired 03/30/21, Cost: <br> $2,995,956)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 4996667 |
|  |  |  | &nbsp;&nbsp; 8789736 |
| **Financial Services — 1.9%** | **Financial Services — 1.9%** | **Financial Services — 1.9%** |  |
| &nbsp;&nbsp;&nbsp; Aquiline Madonna Co-Invest LP (Acquired 10/18/24, Cost: <br> $5,964,588)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 6798648 |
| **Food Products — 1.5%** | **Food Products — 1.5%** | **Food Products — 1.5%** |  |
| IK IX Luxco 15 Sàrl |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Free Shareholder Loan (Acquired 10/20/23, <br> Cost: $15,170)<br>| EUR | 20 | &nbsp;&nbsp; 23307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preference Shares (Acquired 10/20/23, Cost: <br> $3,710,476)<br>|  | 342950 | &nbsp;&nbsp; 5294639 |
|  |  |  | &nbsp;&nbsp; 5317946 |
| **Health Care Providers & Services — 7.2%** | **Health Care Providers & Services — 7.2%** | **Health Care Providers & Services — 7.2%** |  |
| &nbsp;&nbsp;&nbsp; Atlas Co-Investment Fund 2 LP (Acquired 06/30/21, Cost: <br> $946,674)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1129204 |
| &nbsp;&nbsp;&nbsp; C-Bridge Investment Yaneng Ltd. (Acquired 12/16/21, <br> Cost: $3,183,687)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 2706244 |
| &nbsp;&nbsp;&nbsp; Charme - Animalia Coinvestment Fund (Acquired <br> 06/27/24, Cost: $3,545,041)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 3890670 |
| &nbsp;&nbsp;&nbsp; Pacific Avenue Emerald Continuation Fund (A) LP <br> (Acquired 07/30/21, Cost: $2,035,590)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 3166896 |
| &nbsp;&nbsp;&nbsp; Romulus Intermediate Holdings 1, Inc., Series A Preferred <br> Shares (Acquired 11/15/23, Cost: $11,760,000)<br>|  | 12000 | &nbsp;&nbsp; 15033191 |
|  |  |  | &nbsp;&nbsp; 25926205 |
| **Health Care Technology — 6.0%** | **Health Care Technology — 6.0%** | **Health Care Technology — 6.0%** |  |
| Thirty Madison, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Promissory Note, 2.37%, 07/12/25 (Acquired 08/12/22, <br> Cost: $1,429,433)<sup>(f)</sup><br>| USD | 2038 | &nbsp;&nbsp; 1885225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrant, expires 07/12/25, Strike Price USD <br> 0.01 (Acquired 08/12/22, Cost: $608,808)<br>|  | 1 | &nbsp;&nbsp; 1883158 |
| &nbsp;&nbsp;&nbsp; VCF Compass Co-Investor Holdings II LP (Acquired <br> 03/19/25, Cost: $1,641,051)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 2058879 |
| &nbsp;&nbsp;&nbsp; VCF Compass Co-Investor Holdings LP (Acquired <br> 04/25/24, Cost: $12,445,968)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 15593611 |
|  |  |  | &nbsp;&nbsp; 21420873 |
| **Household Durables — 0.6%** | **Household Durables — 0.6%** | **Household Durables — 0.6%** |  |
| &nbsp;&nbsp;&nbsp; SL Riviera Investors 2021 LP (Acquired 04/14/21, Cost: <br> $2,078,007)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 2139970 |
| **IT Services — 3.4%** | **IT Services — 3.4%** | **IT Services — 3.4%** |  |
| &nbsp;&nbsp;&nbsp; TPG Arkady Co-Invest, LP (Acquired 08/23/24, Cost: <br> $3,332,518)<sup>(e)</sup><br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 3286616 |
| &nbsp;&nbsp;&nbsp; Vestar Capital Partners Rainforest, LP (Acquired 04/09/24, <br> Cost: $6,138,321)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 9000000 |
|  |  |  | &nbsp;&nbsp; 12286616 |
| **Personal Care Products — 1.4%** | **Personal Care Products — 1.4%** | **Personal Care Products — 1.4%** |  |
| &nbsp;&nbsp;&nbsp; Bluegem III Co-Invest A, SCSp (Acquired 06/26/24, Cost: <br> $1,090,808)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1175743 |
| &nbsp;&nbsp;&nbsp; PAI MMF Master Sàrl SICAV-RAIF (Acquired 06/18/24, <br> Cost: $3,332,377)<br>|  | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 3723945 |
|  |  |  | &nbsp;&nbsp; 4899688 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

June 30, 2025

**BlackRock Private Investments Fund** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Shares/*<br> *Par (000)*<br>| *Value* |
| **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** |  |
| &nbsp;&nbsp;&nbsp; CD&R Opal Co-Investor, LP (Acquired 04/15/25, Cost: <br> $5,919,535)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; $6042111 |
| &nbsp;&nbsp;&nbsp; Epione Co-Investment LP (Acquired 10/10/24, Cost: <br> $2,932,863)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 3057723 |
|  |  | &nbsp;&nbsp; 9099834 |
| **Semiconductors & Semiconductor Equipment — 1.5%** | **Semiconductors & Semiconductor Equipment — 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Groq, Inc., Series D Preferred Shares (Acquired 08/01/24, <br> Cost: $3,646,517)<br>| 229091 | &nbsp;&nbsp; 5583436 |
| **Software — 16.6%** | **Software — 16.6%** |  |
| &nbsp;&nbsp;&nbsp; 16057349 Canada, Inc., Series F-1 Preferred Shares <br> (Acquired 06/18/24, Cost: $3,347,669)<br>| 95986 | &nbsp;&nbsp; 4146997 |
| &nbsp;&nbsp;&nbsp; Angel Lux Holdco II Sàrl (Acquired 05/15/25, Cost: <br> $844,860)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1048064 |
| &nbsp;&nbsp;&nbsp; BCP VI Central Co-Invest LP (Acquired 07/05/23, Cost: <br> $7,902,975)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 11998043 |
| &nbsp;&nbsp;&nbsp; Databricks, Inc., Series J, Preferred Shares (Acquired <br> 01/21/25, Cost: $7,843,908)<br>| 84799 | &nbsp;&nbsp; 9173556 |
| Ecovadis S.A.S. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ordinary Shares (Acquired 10/04/22, Cost: <br> $1,517,650)<br>| 6350 | &nbsp;&nbsp; 3286087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A Preferred Shares (Acquired 10/04/22, Cost: <br> $568,820)<br>| 2380 | &nbsp;&nbsp; 1231636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B Preferred Shares (Acquired 10/04/22, Cost: <br> $186,420)<br>| 780 | &nbsp;&nbsp; 403647 |
| &nbsp;&nbsp;&nbsp; Flexe, Inc., Series D Preferred Shares (Acquired 06/14/22, <br> Cost: $1,719,347)<br>| 84056 | &nbsp;&nbsp; 1600369 |
| &nbsp;&nbsp;&nbsp; Motive with Co-Investment, LP (Acquired 05/31/24, Cost: <br> $4,205,976)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 5681595 |
| &nbsp;&nbsp;&nbsp; Project CS Co-Invest Fund, LP (Acquired 02/24/23, Cost: <br> $2,855,405)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 4520686 |
| &nbsp;&nbsp;&nbsp; Stripe, Inc., Series I Preferred Shares (Acquired 03/20/23, <br> Cost: $1,962,273)<br>| 97460 | &nbsp;&nbsp; 3459830 |
| &nbsp;&nbsp;&nbsp; Vista Equity Partners Hubble, LP (Acquired 03/31/25, <br> Cost: $13,323,750)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 13320006 |
|  |  | &nbsp;&nbsp; 59870516 |
| **Transportation Infrastructure — 1.0%** | **Transportation Infrastructure — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; BW Phoenix Co-Invest, LP (Acquired 05/17/24, Cost: <br> $2,932,950)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 3494467 |
| **Total Direct Investments — 65.5%** | **Total Direct Investments — 65.5%** | &nbsp;&nbsp; 235675505 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Primary Investments — 0.5%**<sup>(a)(c)</sup> | **Primary Investments — 0.5%**<sup>(a)(c)</sup> | **Primary Investments — 0.5%**<sup>(a)(c)</sup> |
| **Diversified — 0.5%** | **Diversified — 0.5%** |  |
| &nbsp;&nbsp;&nbsp; Grotech Ventures IV, LP (Acquired 10/11/22, Cost: <br> $202,574)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 196096 |
| &nbsp;&nbsp;&nbsp; Providence Equity Partners IX-A S.C.Sp. (Acquired <br> 01/26/24, Cost: $1,708,972)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1810369 |
| **Total Primary Investments — 0.5%** | **Total Primary Investments — 0.5%** | &nbsp;&nbsp; 2006465 |
| **Secondary Investments — 17.0%**<sup>(a)(c)</sup> | **Secondary Investments — 17.0%**<sup>(a)(c)</sup> | **Secondary Investments — 17.0%**<sup>(a)(c)</sup> |
| **Commercial Services & Supplies — 0.0%** | **Commercial Services & Supplies — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Amberjack Capital Feeder Fund B LP (Acquired 12/01/21, <br> Cost: $17,014)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 79713 |
| &nbsp;&nbsp;&nbsp; Platinum Equity Continuation Fund LP (Acquired 12/16/21, <br> Cost: $1,717,529)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; — |
|  |  | &nbsp;&nbsp; 79713 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Diversified — 8.9%** | **Diversified — 8.9%** |  |
| GA Atlas, LP (Acquired 03/22/22, Cost: $2,969,987) | — <br><sup>(d)</sup><br>| &nbsp;&nbsp; $2463565 |
| &nbsp;&nbsp;&nbsp; Grotech Ventures III, LP (Acquired 09/30/22, Cost: <br> $1,366,654)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 1239909 |
| &nbsp;&nbsp;&nbsp; Inovia Continuity Fund I, LP (Acquired 09/17/21, Cost: <br> $2,089,671)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 2559676 |
| &nbsp;&nbsp;&nbsp; Palladium Equity Partners IV CF LP (Acquired 12/12/23, <br> Cost: $3,843,726)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 6268644 |
| &nbsp;&nbsp;&nbsp; Pamlico Capital III Continuation Fund, LP (Acquired <br> 01/27/23, Cost: $3,074,708)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 5002630 |
| &nbsp;&nbsp;&nbsp; Providence Equity Partners VII LP (Acquired 09/28/23, <br> Cost: $3,218,082)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 2384879 |
| &nbsp;&nbsp;&nbsp; Providence Equity Partners VII-A LP (Acquired 09/28/23, <br> Cost: $3,346,985)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 2478322 |
| &nbsp;&nbsp;&nbsp; Roark Capital Partners CF LP (Acquired 08/26/22, Cost: <br> $2,624,494)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 4302818 |
| &nbsp;&nbsp;&nbsp; STG Alternative Investments SCA SICAV RAIF Sub Fund <br> E (Acquired 10/01/21, Cost: $2,621,555)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 5481897 |
|  |  | &nbsp;&nbsp; 32182340 |
| **Electronic Equipment, Instruments & Components — 1.5%** | **Electronic Equipment, Instruments & Components — 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Behrman Capital Micross CF LP (Acquired 02/24/22, Cost: <br> $2,707,702)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 5433665 |
| **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; Amberjack Capital Feeder Fund Cayman LP (Acquired <br> 12/01/21, Cost: $72,623)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 196195 |
| **Food Products**<sup>(b)</sup> **— 1.9%** | **Food Products**<sup>(b)</sup> **— 1.9%** |  |
| &nbsp;&nbsp;&nbsp; CREO Capital Partners V-A LP (Acquired 09/20/21, Cost: <br> $2,690,646)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 2944756 |
| &nbsp;&nbsp;&nbsp; Kohlberg TE Investors VII CV LP (Acquired 07/13/21, <br> Cost: $3,136,994)<br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 3955130 |
|  |  | &nbsp;&nbsp; 6899886 |
| **Health Care Providers & Services — 2.2%** | **Health Care Providers & Services — 2.2%** |  |
| &nbsp;&nbsp;&nbsp; Zenyth Partners Continuation Fund, LP (Acquired <br> 09/29/22, Cost: $5,056,960)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 7929208 |
| **Software — 1.4%** | **Software — 1.4%** |  |
| &nbsp;&nbsp;&nbsp; Rubicon Continuation Fund LP (Acquired 11/12/24, Cost: <br> $4,079,551)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 4892137 |
| **Trading Companies & Distributors — 1.0%** | **Trading Companies & Distributors — 1.0%** |  |
| &nbsp;&nbsp;&nbsp; Bain Capital Empire Holdings, LP (Acquired 10/27/22, <br> Cost: $3,423,072)<sup>(b)</sup><br>| — <br><sup>(d)</sup><br>| &nbsp;&nbsp; 3473574 |
| **Total Secondary Investments — 17.0%** | **Total Secondary Investments — 17.0%** | &nbsp;&nbsp; 61086718 |
| **Total Private Equity Investments — 83.0%** <br>**(Cost: $240,775,122)** | **Total Private Equity Investments — 83.0%** <br>**(Cost: $240,775,122)** | &nbsp;&nbsp; 298768688 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | *Par* <br>*(000)*<br>|  |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXXVII, Series 2021-37A, Class A, (3-mo. <br> CME Term SOFR + 1.39%), 5.66%, 10/22/34<sup>(g)(h)</sup><br>| $1000 | &nbsp;&nbsp; 1001004 |
| &nbsp;&nbsp;&nbsp; Bain Capital Credit CLO Ltd., Series 2022-2A, Class A1, <br> (3-mo. CME Term SOFR + 1.32%), 5.59%, <br> 04/22/35<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1003090 |
| &nbsp;&nbsp;&nbsp; Ballyrock CLO Ltd., Series 2024-22A, Class A2, (3-mo. <br> CME Term SOFR + 1.95%), 6.21%, 04/15/37<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1004282 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXI Ltd., Series 2020-21A, <br> Class A1R, (3-mo. CME Term SOFR + 1.43%), 5.69%, <br> 10/15/34<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1001627 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

June 30, 2025

**BlackRock Private Investments Fund** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; CarVal CLO XI C Ltd., Series 2024-3A, Class A1, (3-mo. <br> CME Term SOFR + 1.39%), 5.66%, 10/20/37<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; $1003965 |
| &nbsp;&nbsp;&nbsp; CIFC Funding Ltd., Series 2021-6A, Class A, (3-mo. CME <br> Term SOFR + 1.40%), 5.66%, 10/15/34<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1001202 |
| &nbsp;&nbsp;&nbsp; Diameter Capital CLO Ltd., Series 2025-10A, Class A, <br> (3-mo. CME Term SOFR + 1.31%), 5.60%, <br> 04/20/38<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1000891 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO 29 Ltd., Series 2024-5A, Class AR1, (3-mo. <br> CME Term SOFR + 1.52%), 5.79%, 04/20/37<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1003535 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO Ltd., Series 2025-1A, Class A, (3-mo. CME <br> Term SOFR + 1.15%), 5.43%, 04/22/38<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 999076 |
| &nbsp;&nbsp;&nbsp; Flatiron CLO Ltd., Series 2020-1A, Class BR, (3-mo. CME <br> Term SOFR + 1.92%), 6.24%, 05/20/36<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1003005 |
| Generate CLO Ltd.<sup>(g)(h)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-13A, Class A1, (3-mo. CME Term SOFR + <br> 1.80%), 6.07%, 01/20/37<br>| 1000 | &nbsp;&nbsp; 1004354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 7A, Class A1R, (3-mo. CME Term SOFR + <br> 1.62%), 5.89%, 04/22/37<br>| 1000 | &nbsp;&nbsp; 1003825 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO Ltd., Series 2021-55A, <br> Class A, (3-mo. CME Term SOFR + 1.46%), 5.73%, <br> 07/20/34<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1000945 |
| &nbsp;&nbsp;&nbsp; Midocean Credit CLO XV Ltd., Series 2024-15A, <br> Class A1, (3-mo. CME Term SOFR + 1.53%), 5.80%, <br> 07/21/37<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1003454 |
| &nbsp;&nbsp;&nbsp; Oak Hill Credit Partners X-R Ltd., Series 2014-10RA, <br> Class AR2, (3-mo. CME Term SOFR + 1.13%), 5.40%, <br> 04/20/38<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 999104 |
| &nbsp;&nbsp;&nbsp; OCP CLO Ltd., Series 2021-21A, Class AR, (3-mo. CME <br> Term SOFR + 1.18%), 5.45%, 01/20/38<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 999768 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding Ltd., Series 2024-17A, Class A, (3-<br> mo. CME Term SOFR + 1.48%), 5.75%, 04/20/37<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1003176 |
| &nbsp;&nbsp;&nbsp; Palmer Square CLO Ltd., Series 2020-3ARR, Class A1R2, <br> (3-mo. CME Term SOFR + 1.65%), 5.98%, <br> 11/15/36<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1004102 |
| &nbsp;&nbsp;&nbsp; Rad CLO Ltd., Series 2023-22A, Class A1, (3-mo. CME <br> Term SOFR + 1.83%), 6.10%, 01/20/37<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1004261 |
| &nbsp;&nbsp;&nbsp; Sandstone Peak II Ltd., Series 2023-1A, Class C, (3-mo. <br> CME Term SOFR + 3.50%), 7.77%, 07/20/36<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1000000 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO Ltd., Series 2024-4A, Class A1, (3-mo. <br> CME Term SOFR + 1.63%), 5.89%, 04/15/37<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1003957 |
| Sycamore Tree CLO Ltd.<sup>(g)(h)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A, Class A1R, (3-mo. CME Term SOFR + <br> 1.65%), 5.92%, 04/20/37<br>| 1000 | &nbsp;&nbsp; 1005773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5A, Class A1, (3-mo. CME Term SOFR + <br> 1.42%), 5.69%, 04/20/36<br>| 1000 | &nbsp;&nbsp; 1002234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5A, Class B, (3-mo. CME Term SOFR + <br> 2.25%), 6.52%, 04/20/36<br>| 1000 | &nbsp;&nbsp; 1002001 |
| &nbsp;&nbsp;&nbsp; Warwick Capital CLO Ltd., Series 2023-1A, Class B, (3-<br> mo. CME Term SOFR + 2.80%), 7.07%, 10/20/36<sup>(g)(h)</sup><br>| 1000 | &nbsp;&nbsp; 1006849 |
| **Total Asset-Backed Securities — 7.0%** <br>**(Cost: $24,912,127)** | **Total Asset-Backed Securities — 7.0%** <br>**(Cost: $24,912,127)** | &nbsp;&nbsp; 25065480 |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |
| Standard Industries, Inc., 4.75%, 01/15/28<sup>(h)</sup> | 324 | &nbsp;&nbsp; 320400 |
| **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
| Block, Inc., 2.75%, 06/01/26 | 210 | &nbsp;&nbsp; 205597 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
| Clarivate Science Holdings Corp., 3.88%, 07/01/28<sup>(h)</sup> | 82 | &nbsp;&nbsp; $78599 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC/Prime Finance, <br> Inc., 5.75%, 04/15/26<sup>(h)</sup><br>| 120 | &nbsp;&nbsp; 120622 |
| United Rentals North America, Inc., 6.00%, 12/15/29<sup>(h)</sup> | 132 | &nbsp;&nbsp; 135192 |
|  |  | &nbsp;&nbsp; 540010 |
| **Diversified REITs — 0.1%** | **Diversified REITs — 0.1%** | **Diversified REITs — 0.1%** |
| Iron Mountain, Inc., 7.00%, 02/15/29<sup>(h)</sup> | 162 | &nbsp;&nbsp; 167703 |
| SBA Communications Corp., 3.13%, 02/01/29 | 225 | &nbsp;&nbsp; 212507 |
|  |  | &nbsp;&nbsp; 380210 |
| **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** |
| Level 3 Financing, Inc., 11.00%, 11/15/29<sup>(h)</sup> | 7 | &nbsp;&nbsp; 7852 |
| **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** |
| &nbsp;&nbsp;&nbsp; Pattern Energy Operations LP/Pattern Energy Operations, <br> Inc., 4.50%, 08/15/28<sup>(h)</sup><br>| 163 | &nbsp;&nbsp; 157924 |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** | **Financial Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., <br> 2.88%, 10/15/26<sup>(h)</sup><br>| 154 | &nbsp;&nbsp; 150192 |
| **Food Products**<sup>(h)</sup> **— 0.1%** | **Food Products**<sup>(h)</sup> **— 0.1%** | **Food Products**<sup>(h)</sup> **— 0.1%** |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New Albertsons <br> LP/Albertsons LLC, 5.88%, 02/15/28<br>| 137 | &nbsp;&nbsp; 136863 |
| Lamb Weston Holdings, Inc., 4.13%, 01/31/30 | 133 | &nbsp;&nbsp; 126828 |
|  |  | &nbsp;&nbsp; 263691 |
| **Health Care Equipment & Supplies — 0.1%** | **Health Care Equipment & Supplies — 0.1%** | **Health Care Equipment & Supplies — 0.1%** |
| Avantor Funding, Inc., 4.63%, 07/15/28<sup>(h)</sup> | 163 | &nbsp;&nbsp; 160059 |
| **Health Care Providers & Services — 0.1%** | **Health Care Providers & Services — 0.1%** | **Health Care Providers & Services — 0.1%** |
| IQVIA, Inc., 5.00%, 10/15/26<sup>(h)</sup> | 208 | &nbsp;&nbsp; 207787 |
| **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp., 4.50%, <br> 02/15/29<sup>(h)</sup><br>| 81 | &nbsp;&nbsp; 79168 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
| Clearway Energy Operating LLC, 4.75%, 03/15/28<sup>(h)</sup> | 347 | &nbsp;&nbsp; 342866 |
| **Internet Software & Services**<sup>(h)</sup> **— 0.1%** | **Internet Software & Services**<sup>(h)</sup> **— 0.1%** | **Internet Software & Services**<sup>(h)</sup> **— 0.1%** |
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co. LLC/GD Finance Co., Inc., <br> 5.25%, 12/01/27<br>| 118 | &nbsp;&nbsp; 117839 |
| Match Group Holdings II LLC, 4.63%, 06/01/28 | 333 | &nbsp;&nbsp; 324950 |
|  |  | &nbsp;&nbsp; 442789 |
| **Machinery — 0.0%** | **Machinery — 0.0%** | **Machinery — 0.0%** |
| Regal Rexnord Corp., 6.05%, 04/15/28 | 135 | &nbsp;&nbsp; 139115 |
| **Media**<sup>(h)</sup> **— 0.1%** | **Media**<sup>(h)</sup> **— 0.1%** | **Media**<sup>(h)</sup> **— 0.1%** |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., 5.00%, <br> 02/01/28<br>| 291 | &nbsp;&nbsp; 288319 |
| Sirius XM Radio LLC, 5.00%, 08/01/27 | 148 | &nbsp;&nbsp; 146732 |
|  |  | &nbsp;&nbsp; 435051 |
| **Metals & Mining**<sup>(h)</sup> **— 0.2%** | **Metals & Mining**<sup>(h)</sup> **— 0.2%** | **Metals & Mining**<sup>(h)</sup> **— 0.2%** |
| Advanced Drainage Systems, Inc., 5.00%, 09/30/27 | 215 | &nbsp;&nbsp; 213302 |
| Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29 | 165 | &nbsp;&nbsp; 166332 |
| Novelis Corp., 3.25%, 11/15/26 | 209 | &nbsp;&nbsp; 205651 |
|  |  | &nbsp;&nbsp; 585285 |
| **Oil, Gas & Consumable Fuels — 0.0%** | **Oil, Gas & Consumable Fuels — 0.0%** | **Oil, Gas & Consumable Fuels — 0.0%** |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream Finance <br> Corp., 5.75%, 03/01/27<sup>(h)</sup><br>| 25 | &nbsp;&nbsp; 24969 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

June 30, 2025

**BlackRock Private Investments Fund** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, <br> 04/20/26<sup>(h)</sup><br>| $22 | &nbsp;&nbsp; $22391 |
| **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** |
| Entegris, Inc., 4.75%, 04/15/29<sup>(h)</sup> | 218 | &nbsp;&nbsp; 215582 |
| **Technology Hardware, Storage & Peripherals — 0.0%** | **Technology Hardware, Storage & Peripherals — 0.0%** | **Technology Hardware, Storage & Peripherals — 0.0%** |
| Seagate HDD Cayman, 8.25%, 12/15/29 | 150 | &nbsp;&nbsp; 159750 |
| **Total Corporate Bonds — 1.3%** <br>**(Cost: $4,603,970)** | **Total Corporate Bonds — 1.3%** <br>**(Cost: $4,603,970)** | &nbsp;&nbsp; 4635091 |
| **Floating Rate Loan Interests**<sup>(g)</sup> | **Floating Rate Loan Interests**<sup>(g)</sup> | **Floating Rate Loan Interests**<sup>(g)</sup> |
| **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** |
| Dynasty Acquisition Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B1, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.33%, 10/31/31<br>| 97 | &nbsp;&nbsp; 97494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B2, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.33%, 10/31/31<br>| 38 | &nbsp;&nbsp; 37754 |
| &nbsp;&nbsp;&nbsp; Setanta Aircraft Leasing DAC, 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 6.05%, <br> 11/05/28<br>| 70 | &nbsp;&nbsp; 69822 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan J, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.80%, 02/28/31<br>| 262 | &nbsp;&nbsp; 262933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.80%, 01/19/32<br>| 37 | &nbsp;&nbsp; 36772 |
|  |  | &nbsp;&nbsp; 504775 |
| **Automobile Components — 0.1%** | **Automobile Components — 0.1%** | **Automobile Components — 0.1%** |
| &nbsp;&nbsp;&nbsp; Allison Transmission, Inc., 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 6.06%, 03/13/31<br>| 48 | &nbsp;&nbsp; 47889 |
| Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, (1-mo. CME Term SOFR + <br> 2.50%), 6.83%, 05/06/30<br>| 96 | &nbsp;&nbsp; 96153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.75%), 7.08%, 01/28/32<br>| 25 | &nbsp;&nbsp; 25016 |
| Gates Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B4, (1-mo. CME Term SOFR + <br> 1.75%), 6.08%, 11/16/29<br>| 73 | &nbsp;&nbsp; 72818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B5, (1-mo. CME Term SOFR + <br> 1.75%), 6.08%, 06/04/31<br>| 97 | &nbsp;&nbsp; 97186 |
|  |  | &nbsp;&nbsp; 339062 |
| **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** |
| Sazerac Co., Inc., Term Loan B, 06/25/32<sup>(a)(i)</sup> | 61 | &nbsp;&nbsp; 60924 |
| **Broadline Retail — 0.0%** | **Broadline Retail — 0.0%** | **Broadline Retail — 0.0%** |
| &nbsp;&nbsp;&nbsp; Fanatics Commerce Intermediate Holdco LLC, Term Loan <br> B, (1-mo. CME Term SOFR + 3.36%), 7.69%, <br> 11/24/28<sup>(a)</sup><br>| 20 | &nbsp;&nbsp; 19565 |
| **Building Products — 0.0%** | **Building Products — 0.0%** | **Building Products — 0.0%** |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc., Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.35%), 6.67%, <br> 07/31/26<br>| 52 | &nbsp;&nbsp; 51713 |
| &nbsp;&nbsp;&nbsp; Azek Group LLC, 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.00%), 6.33%, 09/26/31<br>| 38 | &nbsp;&nbsp; 37763 |
| &nbsp;&nbsp;&nbsp; AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR + <br> 2.50%), 6.83%, 05/13/29<br>| 19 | &nbsp;&nbsp; 19631 |
|  |  | &nbsp;&nbsp; 109107 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Capital Markets — 0.1%** | **Capital Markets — 0.1%** | **Capital Markets — 0.1%** |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems U.S. Holdings, Inc., 2024 Term <br> Loan B, (3-mo. CME Term SOFR at 0.50% Floor + <br> 1.75%), 6.05%, 12/20/29<br>| $79 | &nbsp;&nbsp; $78901 |
| &nbsp;&nbsp;&nbsp; Jane Street Group LLC, 2024 Term Loan B1, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.33%, 12/15/31<br>| 89 | &nbsp;&nbsp; 89440 |
| &nbsp;&nbsp;&nbsp; Jefferies Finance LLC, 2024 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.32%, 10/21/31<br>| 32 | &nbsp;&nbsp; 31880 |
|  |  | &nbsp;&nbsp; 200221 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc., 2023 Term Loan B, (1-mo. CME <br> Term SOFR + 1.75%), 6.08%, 12/18/30<br>| 86 | &nbsp;&nbsp; 86424 |
| &nbsp;&nbsp;&nbsp; H.B. Fuller Co., 2025 Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 1.75%), 6.08%, 02/15/30<br>| 35 | &nbsp;&nbsp; 35569 |
| INEOS U.S. Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 USD Term Loan B, (1-mo. CME Term SOFR + <br> 2.60%), 6.93%, 11/08/28<br>| 47 | &nbsp;&nbsp; 45479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 USD Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 7.58%, 02/18/30<br>| 57 | &nbsp;&nbsp; 54665 |
| &nbsp;&nbsp;&nbsp; INEOS U.S. Petrochem LLC, 2024 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 4.25%), <br> 8.58%, 10/07/31<br>| 35 | &nbsp;&nbsp; 31771 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.33%, <br> 11/26/31<br>| 45 | &nbsp;&nbsp; 44719 |
|  |  | &nbsp;&nbsp; 298627 |
| **Commercial Services & Supplies — 0.3%** | **Commercial Services & Supplies — 0.3%** | **Commercial Services & Supplies — 0.3%** |
| &nbsp;&nbsp;&nbsp; Aramark Services, Inc., 2024 Term Loan B8, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.33%, 06/22/30<br>| 166 | &nbsp;&nbsp; 166104 |
| &nbsp;&nbsp;&nbsp; Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.85%), 6.18%, <br> 09/07/27<br>| 90 | &nbsp;&nbsp; 89954 |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc., 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.08%, 10/09/28<br>| 94 | &nbsp;&nbsp; 94350 |
| &nbsp;&nbsp;&nbsp; Froneri U.S., Inc., 2024 USD Term Loan B4, (6-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.24%, 09/30/31<br>| 163 | &nbsp;&nbsp; 161199 |
| &nbsp;&nbsp;&nbsp; MX Holdings U.S., Inc., 2025 USD Term Loan B, <br> 03/17/32<sup>(a)(i)</sup><br>| 15 | &nbsp;&nbsp; 15056 |
| &nbsp;&nbsp;&nbsp; Novelis Holdings, Inc., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.30%, 03/11/32<br>| 47 | &nbsp;&nbsp; 46941 |
| Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 6.32%, 10/13/30<br>| 53 | &nbsp;&nbsp; 53462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.07%, 03/07/32<br>| 20 | &nbsp;&nbsp; 19759 |
| &nbsp;&nbsp;&nbsp; Reworld Holding Corp , Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.25%), 6.56%, 11/30/28<br>| 74 | &nbsp;&nbsp; 74150 |
| Reworld Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.25%), 6.57%, 11/30/28<br>| 51 | &nbsp;&nbsp; 50985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan C, (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.25%), 6.57%, 11/30/28<br>| 3 | &nbsp;&nbsp; 2808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan C, (1-mo. CME Term SOFR at 0.50% Floor <br> + 2.25%), 6.56%, 11/30/28<br>| 6 | &nbsp;&nbsp; 5725 |
| &nbsp;&nbsp;&nbsp; Tempo Acquisition LLC, 2025 Repriced Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 1.75%), 6.08%, <br> 08/31/28<br>| 138 | &nbsp;&nbsp; 137383 |
| &nbsp;&nbsp;&nbsp; Vestis Corp., Term Loan, (3-mo. CME Term SOFR + <br> 2.25%), 6.58%, 02/22/31<br>| 23 | &nbsp;&nbsp; 22209 |
|  |  | &nbsp;&nbsp; 940085 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

June 30, 2025

**BlackRock Private Investments Fund** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ciena Corp., 2025 Repriced Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 6.07%, 10/24/30<br>| $90 | &nbsp;&nbsp; $90823 |
| **Construction & Engineering — 0.0%** | **Construction & Engineering — 0.0%** | **Construction & Engineering — 0.0%** |
| Pike Corp., 2021 Incremental Term Loan B, 01/21/28<sup>(i)</sup> | 30 | &nbsp;&nbsp; 30154 |
| **Construction Materials — 0.1%** | **Construction Materials — 0.1%** | **Construction Materials — 0.1%** |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR + <br> 2.25%), 6.58%, 03/19/29<br>| 83 | &nbsp;&nbsp; 82675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.58%, 02/10/32<br>| 170 | &nbsp;&nbsp; 169278 |
| &nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR + 3.00%), 7.32%, 04/02/29<br>| 23 | &nbsp;&nbsp; 23628 |
|  |  | &nbsp;&nbsp; 275581 |
| **Consumer Staples Distribution & Retail — 0.0%** | **Consumer Staples Distribution & Retail — 0.0%** | **Consumer Staples Distribution & Retail — 0.0%** |
| &nbsp;&nbsp;&nbsp; U.S. Foods, Inc., 2024 1st Lien Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 6.08%, 10/03/31<br>| 93 | &nbsp;&nbsp; 93239 |
| **Containers & Packaging — 0.0%** | **Containers & Packaging — 0.0%** | **Containers & Packaging — 0.0%** |
| Colossus Acquireco LLC, Term Loan B, 06/11/32<sup>(i)</sup> | 85 | &nbsp;&nbsp; 84384 |
| &nbsp;&nbsp;&nbsp; Reynolds Consumer Products LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 6.08%, 03/04/32<br>| 20 | &nbsp;&nbsp; 20016 |
|  |  | &nbsp;&nbsp; 104400 |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions LLC, 2024 Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 1.75%), <br> 6.08%, 11/24/28<br>| 115 | &nbsp;&nbsp; 115263 |
| **Diversified REITs — 0.0%** | **Diversified REITs — 0.0%** | **Diversified REITs — 0.0%** |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP, 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.33%, 05/20/30<br>| 58 | &nbsp;&nbsp; 58083 |
| **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc., 2024 Term Loan, (3-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.03%, 04/16/31<br>| 100 | &nbsp;&nbsp; 99942 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, 1st Lien Term Loan B3, (1-mo. <br> CME Term SOFR + 1.75%), 6.08%, 12/20/30<br>| 30 | &nbsp;&nbsp; 29833 |
|  |  | &nbsp;&nbsp; 129775 |
| **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** |
| &nbsp;&nbsp;&nbsp; Celestica, Inc., 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.07%, 06/20/31<sup>(a)</sup><br>| 36 | &nbsp;&nbsp; 35640 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| Delta 2 Lux SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (3-mo. CME Term SOFR at 0.50% <br> Floor + 2.00%), 6.30%, 09/30/31<br>| 66 | &nbsp;&nbsp; 65969 |
| &nbsp;&nbsp;&nbsp; 2024 Term Loan B2, 09/30/31<sup>(i)</sup> | 33 | &nbsp;&nbsp; 32914 |
| &nbsp;&nbsp;&nbsp; Playtika Holding Corp., 2021 Term Loan B1, (1-mo. CME <br> Term SOFR + 2.86%), 7.19%, 03/13/28<br>| 75 | &nbsp;&nbsp; 74000 |
| &nbsp;&nbsp;&nbsp; UFC Holdings LLC, 2024 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.57%, 11/21/31<br>| 82 | &nbsp;&nbsp; 81858 |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp., 2024 Term Loan J, (3-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 6.08%, 01/24/31<br>| 191 | &nbsp;&nbsp; 191180 |
|  |  | &nbsp;&nbsp; 445921 |
| **Financial Services — 0.2%** | **Financial Services — 0.2%** | **Financial Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.08%, 01/03/29<br>| 106 | &nbsp;&nbsp; 106451 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Belron Finance LLC, 2024 USD Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.75%), 7.05%, 10/16/31<br>| 195 | &nbsp;&nbsp; $195444 |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, 2025 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.30%, 01/31/31<br>| 143 | &nbsp;&nbsp; 143579 |
| CPI Holdco B LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.58%, 05/17/31<br>| 44 | &nbsp;&nbsp; 43945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (1-mo. CME Term SOFR + 2.00%), <br> 6.33%, 05/19/31<br>| 106 | &nbsp;&nbsp; 106005 |
| WEX, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (1-mo. CME Term SOFR at 0.00% <br> Floor + 1.75%), 6.08%, 03/31/28<br>| 60 | &nbsp;&nbsp; 59540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.08%, 03/05/32<br>| 25 | &nbsp;&nbsp; 24860 |
|  |  | &nbsp;&nbsp; 679824 |
| **Food Products — 0.0%** | **Food Products — 0.0%** | **Food Products — 0.0%** |
| &nbsp;&nbsp;&nbsp; Nomad Foods U.S. LLC, 2023 Term Loan B5, (6-mo. CME <br> Term SOFR at 0.50% Floor + 2.50%), 6.54%, 11/12/29<br>| 47 | &nbsp;&nbsp; 47373 |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.25%), 6.55%, 03/31/28<br>| 96 | &nbsp;&nbsp; 95820 |
|  |  | &nbsp;&nbsp; 143193 |
| **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC, 2020 Term Loan B, (1-mo. <br> CME Term SOFR + 1.86%), 6.19%, 08/06/27<br>| 46 | &nbsp;&nbsp; 45588 |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc., 2024 Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 6.05%, 04/10/31<br>| 166 | &nbsp;&nbsp; 164763 |
|  |  | &nbsp;&nbsp; 210351 |
| **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** |
| &nbsp;&nbsp;&nbsp; Insulet Corp., 2025 Term Loan, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.33%, 08/04/31<br>| 27 | &nbsp;&nbsp; 26947 |
| **Health Care Providers & Services — 0.1%** | **Health Care Providers & Services — 0.1%** | **Health Care Providers & Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc., 2024 Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.10%), 6.43%, 11/08/27<br>| 8 | &nbsp;&nbsp; 8060 |
| &nbsp;&nbsp;&nbsp; Concentra Health Services, Inc., 2025 Repriced Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.00%), 6.33%, 07/26/31<br>| 54 | &nbsp;&nbsp; 53865 |
| &nbsp;&nbsp;&nbsp; ICON Luxembourg SARL, 2024 LUX Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.00%), 6.30%, <br> 07/03/28<br>| 36 | &nbsp;&nbsp; 36054 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, 2024 USD Add-on Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), <br> 6.58%, 10/23/28<br>| 254 | &nbsp;&nbsp; 254486 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc., 2021 Term Loan B, (1-mo. CME <br> Term SOFR + 2.25%), 6.58%, 10/27/28<br>| 52 | &nbsp;&nbsp; 52819 |
| &nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc., 2024 US Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.00%), 6.30%, <br> 07/03/28<br>| 9 | &nbsp;&nbsp; 8983 |
| &nbsp;&nbsp;&nbsp; Vizient, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR <br> at 0.50% Floor + 1.75%), 6.08%, 08/01/31<br>| 39 | &nbsp;&nbsp; 38980 |
|  |  | &nbsp;&nbsp; 453247 |
| **Hotels, Restaurants & Leisure — 0.4%** | **Hotels, Restaurants & Leisure — 0.4%** | **Hotels, Restaurants & Leisure — 0.4%** |
| &nbsp;&nbsp;&nbsp; 1011778 B.C. Unlimited Liability Co., 2024 Term Loan B6, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 6.08%, 09/20/30<br>| 149 | &nbsp;&nbsp; 147955 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR + <br> 2.25%), 6.58%, 02/06/31<br>| 67 | &nbsp;&nbsp; 67024 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

June 30, 2025

**BlackRock Private Investments Fund** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
| Caesars Entertainment, Inc. (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 2.25%), <br> 6.58%, 02/06/30<br>| 123 | &nbsp;&nbsp; $122792 |
| &nbsp;&nbsp;&nbsp; Carnival Corp., 2025 Term Loan (2027), (1-mo. CME Term <br> SOFR at 0.75% Floor + 2.00%), 6.31%, 08/08/27<br>| 5 | &nbsp;&nbsp; 5542 |
| &nbsp;&nbsp;&nbsp; DK Crown Holdings, Inc., 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 6.07%, 03/04/32<br>| 45 | &nbsp;&nbsp; 44744 |
| &nbsp;&nbsp;&nbsp; Flutter Financing B.V., 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 1.75%), 6.05%, 11/30/30<br>| 67 | &nbsp;&nbsp; 66870 |
| &nbsp;&nbsp;&nbsp; Flutter Financing BV, 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.00%), 6.30%, <br> 06/04/32<sup>(a)</sup><br>| 30 | &nbsp;&nbsp; 29962 |
| &nbsp;&nbsp;&nbsp; Four Seasons Hotels Ltd., 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 1.75%), <br> 6.08%, 11/30/29<br>| 78 | &nbsp;&nbsp; 78651 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc., 2023 Term Loan B4, <br> (1-mo. CME Term SOFR + 1.75%), 6.07%, 11/08/30<br>| 201 | &nbsp;&nbsp; 201597 |
| &nbsp;&nbsp;&nbsp; Life Time, Inc., 2024 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.53%, 11/05/31<br>| 13 | &nbsp;&nbsp; 12961 |
| &nbsp;&nbsp;&nbsp; Light & Wonder International, Inc., 2024 Term Loan B2, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), <br> 6.56%, 04/14/29<br>| 106 | &nbsp;&nbsp; 106137 |
| &nbsp;&nbsp;&nbsp; Penn Entertainment, Inc., 2022 Term Loan B, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.50%), 6.83%, 05/03/29<br>| 94 | &nbsp;&nbsp; 94465 |
| &nbsp;&nbsp;&nbsp; SeaWorld Parks & Entertainment, Inc., 2024 Term Loan <br> B3, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.33%, 12/04/31<br>| 73 | &nbsp;&nbsp; 72417 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.33%, <br> 05/01/31<br>| 22 | &nbsp;&nbsp; 21835 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC, 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.33%, 03/14/31<br>| 113 | &nbsp;&nbsp; 112711 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc., 2024 Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 6.08%, <br> 05/24/30<br>| 181 | &nbsp;&nbsp; 181548 |
|  |  | &nbsp;&nbsp; 1367211 |
| **Household Durables — 0.0%** | **Household Durables — 0.0%** | **Household Durables — 0.0%** |
| Somnigroup International, Inc., Term Loan B, 10/24/31 | 6 | &nbsp;&nbsp; 6010 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
| &nbsp;&nbsp;&nbsp; Calpine Construction Finance Co. LP, 2023 Refinancing <br> Term Loan B, (1-mo. CME Term SOFR at 0.00% Floor <br> + 2.00%), 6.33%, 07/31/30<br>| 106 | &nbsp;&nbsp; 106521 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, 2024-1 Incremental Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.81%, 12/15/31<br>| 73 | &nbsp;&nbsp; 72783 |
|  |  | &nbsp;&nbsp; 179304 |
| **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC, USD Term Loan B, <br> 06/25/32<sup>(a)(i)</sup><br>| 31 | &nbsp;&nbsp; 30923 |
| EMRLD Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.83%, 08/04/31<br>| 54 | &nbsp;&nbsp; 53471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (3-mo. CME Term SOFR at 0.00% Floor <br> + 2.50%), 6.83%, 05/31/30<br>| 108 | &nbsp;&nbsp; 108252 |
|  |  | &nbsp;&nbsp; 192646 |
| **Insurance — 0.0%** | **Insurance — 0.0%** | **Insurance — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC, 2024 USD Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.58%, 09/15/31<br>| 99 | &nbsp;&nbsp; 99334 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Interactive Media & Services — 0.0%** | **Interactive Media & Services — 0.0%** | **Interactive Media & Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR + 2.75%), 7.08%, 01/31/31<br>| $59 | &nbsp;&nbsp; $57905 |
| **IT Services — 0.2%** | **IT Services — 0.2%** | **IT Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; ASGN, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR <br> + 1.75%), 6.08%, 08/30/30<br>| 12 | &nbsp;&nbsp; 11808 |
| Asurion LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B11, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.35%), 8.68%, 08/19/28<br>| 115 | &nbsp;&nbsp; 113375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B12, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.25%), 8.58%, 09/19/30<br>| 70 | &nbsp;&nbsp; 68013 |
| &nbsp;&nbsp;&nbsp; 2025 Term Loan B13, 09/19/30<sup>(i)</sup> | 55 | &nbsp;&nbsp; 53755 |
| &nbsp;&nbsp;&nbsp; Ecovyst Catalyst Technologies LLC, 2024 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.28%, 06/12/31<br>| 45 | &nbsp;&nbsp; 44337 |
| Go Daddy Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B7, (1-mo. CME Term SOFR + <br> 1.75%), 6.08%, 05/30/31<br>| 29 | &nbsp;&nbsp; 28732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, (1-mo. CME Term SOFR at 0.00% <br> Floor + 1.75%), 6.08%, 11/09/29<br>| 139 | &nbsp;&nbsp; 139396 |
| Shift4 Payments LLC, 2025 Term Loan, 05/07/32<sup>(i)</sup> | 56 | &nbsp;&nbsp; 56437 |
| &nbsp;&nbsp;&nbsp; World Wide Technology Holding Co. LLC, 2024 Term Loan <br> B, (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), <br> 6.56%, 03/01/30<sup>(a)</sup><br>| 15 | &nbsp;&nbsp; 15463 |
|  |  | &nbsp;&nbsp; 531316 |
| **Machinery — 0.1%** | **Machinery — 0.1%** | **Machinery — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aggreko Holdings, Inc., 2025 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.32%, <br> 08/16/29<br>| 31 | &nbsp;&nbsp; 30710 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc., 2024 Term Loan B, (3-mo. CME <br> Term SOFR + 2.50%), 6.79%, 03/15/30<br>| 55 | &nbsp;&nbsp; 54742 |
| &nbsp;&nbsp;&nbsp; Generac Power Systems, Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 6.07%, <br> 07/03/31<br>| 33 | &nbsp;&nbsp; 32999 |
| &nbsp;&nbsp;&nbsp; JBT Marel Corp., Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.10%), 6.43%, 01/02/32<br>| 11 | &nbsp;&nbsp; 11000 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp., 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.07%, 03/02/27<br>| 90 | &nbsp;&nbsp; 90243 |
| &nbsp;&nbsp;&nbsp; Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + <br> 2.11%), 6.44%, 10/04/28<br>| 48 | &nbsp;&nbsp; 48528 |
|  |  | &nbsp;&nbsp; 268222 |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B4, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.00%), 6.30%, 12/07/30<br>| 35 | &nbsp;&nbsp; 35299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B5, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.55%, 12/15/31<br>| 25 | &nbsp;&nbsp; 24910 |
|  |  | &nbsp;&nbsp; 60209 |
| **Oil, Gas & Consumable Fuels — 0.1%** | **Oil, Gas & Consumable Fuels — 0.1%** | **Oil, Gas & Consumable Fuels — 0.1%** |
| &nbsp;&nbsp;&nbsp; GIP Pilot Acquisition Partners LP, 2025 Term Loan B, (3-<br> mo. CME Term SOFR at 0.00% Floor + 2.00%), 6.28%, <br> 10/04/30<br>| 29 | &nbsp;&nbsp; 28735 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.31%, 02/11/30<br>| 23 | &nbsp;&nbsp; 22943 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc., Term Loan B, (1-mo. CME Term SOFR <br> at 0.50% Floor + 1.75%), 6.07%, 04/07/32<br>| 43 | &nbsp;&nbsp; 43299 |
| &nbsp;&nbsp;&nbsp; Oryx Midstream Services Permian Basin LLC, 2025 Term <br> Loan B, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.25%), 6.57%, 10/05/28<br>| 84 | &nbsp;&nbsp; 84263 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

June 30, 2025

**BlackRock Private Investments Fund** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| &nbsp;&nbsp;&nbsp; WhiteWater DBR HoldCo LLC, 1st Lien Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.25%), <br> 6.56%, 03/03/31<br>| 27 | &nbsp;&nbsp; $26798 |
| &nbsp;&nbsp;&nbsp; Whitewater Matterhorn Holdings LLC, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.25%), <br> 6.57%, 06/16/32<br>| 16 | &nbsp;&nbsp; 15977 |
| &nbsp;&nbsp;&nbsp; Whitewater Whistler Holdings LLC, 2024 Refinancing <br> Term Loan, (3-mo. CME Term SOFR at 0.00% Floor + <br> 1.75%), 6.05%, 02/15/30<br>| 60 | &nbsp;&nbsp; 60291 |
|  |  | &nbsp;&nbsp; 282306 |
| **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** |
| &nbsp;&nbsp;&nbsp; AAdvantage Loyalty IP Ltd., 2025 Term Loan B, <br> 05/28/32<sup>(i)</sup><br>| 76 | &nbsp;&nbsp; 76418 |
| &nbsp;&nbsp;&nbsp; Air Canada, 2024 Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.32%, 03/21/31<br>| 105 | &nbsp;&nbsp; 104672 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc., 2023 1st Lien Term Loan, (6-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.51%, <br> 06/04/29<br>| 86 | &nbsp;&nbsp; 85269 |
| &nbsp;&nbsp;&nbsp; United Airlines, Inc., 2024 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.28%, <br> 02/22/31<br>| 81 | &nbsp;&nbsp; 81247 |
|  |  | &nbsp;&nbsp; 347606 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc., Term Loan B, (1-mo. CME <br> Term SOFR + 1.85%), 6.17%, 08/01/27<br>| 106 | &nbsp;&nbsp; 105994 |
| &nbsp;&nbsp;&nbsp; Jazz Financing Lux SARL, 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR + 2.25%), 6.58%, 05/05/28<br>| 122 | &nbsp;&nbsp; 122112 |
| &nbsp;&nbsp;&nbsp; Perrigo Investments LLC, 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.33%, 04/20/29<br>| 53 | &nbsp;&nbsp; 52970 |
|  |  | &nbsp;&nbsp; 281076 |
| **Professional Services — 0.2%** | **Professional Services — 0.2%** | **Professional Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Amentum Holdings, Inc., 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.58%, 09/29/31<br>| 102 | &nbsp;&nbsp; 101984 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.07%, 10/30/31<br>| 20 | &nbsp;&nbsp; 19838 |
| &nbsp;&nbsp;&nbsp; Corpay Technologies Operating Co. LLC, Term Loan B5, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 6.08%, 04/28/28<br>| 181 | &nbsp;&nbsp; 181174 |
| &nbsp;&nbsp;&nbsp; Dayforce, Inc., 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.28%, 03/01/31<sup>(a)</sup><br>| 62 | &nbsp;&nbsp; 62372 |
| &nbsp;&nbsp;&nbsp; Dun & Bradstreet Corp., 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.57%, 01/18/29<br>| 102 | &nbsp;&nbsp; 101625 |
| &nbsp;&nbsp;&nbsp; Trans Union LLC, 2024 Term Loan B8, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.08%, 06/24/31<br>| 232 | &nbsp;&nbsp; 232161 |
|  |  | &nbsp;&nbsp; 699154 |
| **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, 2024 Tranche <br> 2 Incremental Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.25%), 7.58%, 01/31/30<br>| 15 | &nbsp;&nbsp; 15217 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Semiconductors & Semiconductor Equipment — 0.0%** | **Semiconductors & Semiconductor Equipment — 0.0%** | **Semiconductors & Semiconductor Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Entegris, Inc., 2023 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.06%, 07/06/29<br>| $20 | &nbsp;&nbsp; $19726 |
| &nbsp;&nbsp;&nbsp; MKS Instruments, Inc., 2025 USD Repriced Term Loan, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.32%, 08/17/29<br>| 124 | &nbsp;&nbsp; 124676 |
|  |  | &nbsp;&nbsp; 144402 |
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| &nbsp;&nbsp;&nbsp; CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME <br> Term SOFR + 2.00%), 6.33%, 01/23/32<br>| 56 | &nbsp;&nbsp; 55838 |
| Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR + 1.75%), <br> 6.08%, 09/12/29<br>| 163 | &nbsp;&nbsp; 162848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 1.75%), 6.08%, 04/16/32<br>| 21 | &nbsp;&nbsp; 20953 |
| &nbsp;&nbsp;&nbsp; Informatica LLC, 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.58%, 10/27/28<br>| 169 | &nbsp;&nbsp; 169342 |
| &nbsp;&nbsp;&nbsp; QXO, Inc., Term Loan B, (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.00%), 7.30%, 04/30/32<br>| 20 | &nbsp;&nbsp; 20141 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc., 2024 Term Loan B8, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.33%, <br> 05/09/31<br>| 126 | &nbsp;&nbsp; 126937 |
| &nbsp;&nbsp;&nbsp; ZoomInfo LLC, 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.08%, 02/28/30<br>| 10 | &nbsp;&nbsp; 9834 |
|  |  | &nbsp;&nbsp; 565893 |
| **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** |
| &nbsp;&nbsp;&nbsp; Crocs, Inc., 2024 Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 2.25%), 6.58%, 02/19/29<br>| 48 | &nbsp;&nbsp; 47912 |
| **Trading Companies & Distributors — 0.1%** | **Trading Companies & Distributors — 0.1%** | **Trading Companies & Distributors — 0.1%** |
| &nbsp;&nbsp;&nbsp; Core & Main LP, 2024 Term Loan E, (6-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.27%, 02/09/31<br>| 83 | &nbsp;&nbsp; 83062 |
| &nbsp;&nbsp;&nbsp; GYP Holdings III Corp., 2024 Term Loan, (1-mo. CME <br> Term SOFR + 2.25%), 6.58%, 05/12/30<br>| 128 | &nbsp;&nbsp; 127594 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc., Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.32%, 06/02/32<br>| 38 | &nbsp;&nbsp; 38111 |
|  |  | &nbsp;&nbsp; 248767 |
| **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; SBA Senior Finance II LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 6.08%, <br> 01/25/31<br>| 119 | &nbsp;&nbsp; 119067 |
| **Total Floating Rate Loan Interests — 3.0%** <br>**(Cost: $10,874,381)** | **Total Floating Rate Loan Interests — 3.0%** <br>**(Cost: $10,874,381)** | &nbsp;&nbsp; 10878364 |
| **Total Long-Term Investments — 94.3%** <br>**(Cost: $281,165,600)** | **Total Long-Term Investments — 94.3%** <br>**(Cost: $281,165,600)** | &nbsp;&nbsp; 339347623 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

Consolidated Schedule of Investments (unaudited)(continued)

June 30, 2025

**BlackRock Private Investments Fund** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.5%** | **Money Market Funds — 0.5%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional Shares, <br> 4.20%<sup>(j)(k)</sup><br>| 1710472 | &nbsp;&nbsp; $1710472 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | *Par* <br>*(000)*<br>|  |
| **U.S. Treasury Obligations — 4.7%** | **U.S. Treasury Obligations — 4.7%** |  |
| U.S. Treasury Bills<sup>(l)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.28%, 07/01/25 | $14000 | &nbsp;&nbsp; 14000000 |
| &nbsp;&nbsp;&nbsp; 4.18%, 07/15/25 | 3000 | &nbsp;&nbsp; 2995156 |
|  |  | &nbsp;&nbsp; 16995156 |
| **Total Short-Term Securities — 5.2%** <br>**(Cost: $18,705,677)** | **Total Short-Term Securities — 5.2%** <br>**(Cost: $18,705,677)** | &nbsp;&nbsp; 18705628 |
| **Total Investments — 99.5%** <br>**(Cost: $299,871,277)** | **Total Investments — 99.5%** <br>**(Cost: $299,871,277)** | &nbsp;&nbsp; 358053251 |
| **Other Assets Less Liabilities — 0.5%** | **Other Assets Less Liabilities — 0.5%** | &nbsp;&nbsp; 1620804 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $359674055 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(b)</sup> Non-income producing security.

<sup>(c)</sup> Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $298,768,688, representing 83.1% of its net assets as of period end, and an original cost of $240,775,122. 

<sup>(d)</sup> Investment does not issue shares.

<sup>(e)</sup> Investment is held by a wholly-owned subsidiary.

<sup>(f)</sup> Convertible security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(g)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(h)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(i)</sup> Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. 

<sup>(j)</sup> Affiliate of the Fund.

<sup>(k)</sup> Annualized 7-day yield as of period end.

<sup>(l)</sup> Rates are discount rates or a range of discount rates as of period end.

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended June 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*03/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*06/30/25*<br>| *Shares* <br>*Held at* <br>*06/30/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, T-Fund, Institutional Shares | $2528142 | $—<br> $(817670 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $1710472 | 1710472 | $39751 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

**OTC Total Return Swaps** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund |  |  |  |  |  |  |  |  |
| *Reference* | *Frequency* | *Rate* | *Frequency* | *Counterparty* | *Effective* <br>*Date*<br>| *Termination* <br>*Date*<br>| *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| &nbsp;&nbsp;&nbsp; DoubleVerify <br> Holdings, Inc.<br>| At Termination | &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.07%, 4.45%<br>| At Termination | BNP Paribas SA | N/A | 07/16/25 | USD | 1256 | $370377 | $— | $370377 |
| &nbsp;&nbsp;&nbsp; Topgolf Callaway <br> Brands Corp.<br>| At Termination | &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.07%, 4.45%<br>| At Termination | BNP Paribas SA | N/A | 07/16/25 | USD | 473 | 239425 |  | 239425 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

June 30, 2025

**BlackRock Private Investments Fund** 

**OTC Total Return Swaps (continued)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund |  |  |  |  |  |  |  |  |
| *Reference* | *Frequency* | *Rate* | *Frequency* | *Counterparty* | *Effective*<br> *Date*<br>| *Termination*<br> *Date*<br>| *Notional*<br> *Amount (000)* | *Notional*<br> *Amount (000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)*<br>| *Unrealized*<br> *Appreciation*<br> *(Depreciation)*<br>|
| &nbsp;&nbsp;&nbsp; DoubleVerify <br> Holdings, Inc.<br>| At Termination | &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.05%, 4.45%<br>| At Termination | BNP Paribas SA | N/A | 08/22/25 | USD | 79 | $22151 | $— | $22151 |
| &nbsp;&nbsp;&nbsp; Topgolf Callaway <br> Brands Corp.<br>| At Termination | &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.05%, 4.45%<br>| At Termination | BNP Paribas SA | N/A | 08/22/25 | USD | 190 | 66470 |  | 66470 |
|  |  |  |  |  |  |  |  |  | $698423 | $— | $698423 |

---

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Consolidated Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Private Equity Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Direct Investments | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $235675505 | &nbsp;&nbsp;&nbsp;&nbsp; $235675505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Primary Investments | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2006465 | &nbsp;&nbsp;&nbsp;&nbsp; 2006465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secondary Investments | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 61086718 | &nbsp;&nbsp;&nbsp;&nbsp; 61086718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25065480 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25065480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4635091 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4635091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10608459 | &nbsp;&nbsp;&nbsp;&nbsp; 269905 | &nbsp;&nbsp;&nbsp;&nbsp; 10878364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 1710472 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1710472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16995156 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16995156 |
|  | &nbsp;&nbsp; $1710472 | &nbsp;&nbsp;&nbsp;&nbsp; $57304186 | &nbsp;&nbsp;&nbsp;&nbsp; $299038593 | &nbsp;&nbsp;&nbsp;&nbsp; $358053251 |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $698423 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $698423 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are swaps contracts. Swaps contracts are valued at the unrealized appreciation (depreciation) on the instrument.

------

Consolidated Schedule of Investments (unaudited)(continued)

June 30, 2025

**BlackRock Private Investments Fund** 

A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Direct* <br>*Investments*<br>| *Primary* <br>*Investments*<br>| *Secondary* <br>*Investments*<br>| *Floating* <br>*Rate Loan* <br>*Interests*<br>| *Total*  |
| **Assets** |  |  |  |  |  |
| Opening balance, as of March 31, 2025 | &nbsp;&nbsp; $211919649 | $1553657 | $59346426 | $428415 | $273248147 |
| Transfers into Level 3 | &nbsp;&nbsp; — |  |  | 35685 | 35685 |
| Transfers out of Level 3 | &nbsp;&nbsp; — |  |  | (197498)<br>| (197498)<br>|
| Other<sup>(a)</sup> | &nbsp;&nbsp; (194833)<br>|  | (31964)<br>|  | (226797)<br>|
| Accrued discounts/premiums | &nbsp;&nbsp; — |  |  | (2)<br>| (2)<br>|
| Net realized gain (loss) | &nbsp;&nbsp; 203133 |  |  | (2085)<br>| 201048 |
| Net change in unrealized appreciation (depreciation)<sup>(b)</sup> | &nbsp;&nbsp; 18408678 | 63028 | 1604708 | 1538 | 20077952 |
| Purchases | &nbsp;&nbsp; 7231732 | 389780 | 167548 | 136506 | 7925566 |
| Sales | &nbsp;&nbsp; (1892854)<br>|  |  | (132654)<br>| (2025508)<br>|
| Closing balance, as of June 30, 2025 | &nbsp;&nbsp; $235675505 | $2006465 | $61086718 | $269905 | $299038593 |
| Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2025<sup>(b)</sup> | &nbsp;&nbsp; $18806637 | $63028 | $1604708 | $816 | $20475189 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Includes return of capital and/or capitalized expenses from Portfolio Companies and/or Portfolio Funds investments.

<sup>(b)</sup> Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2025 is generally due to investments no longer held or categorized as Level 3 at period end. 

The following table summarizes the valuation approaches used and unobservable inputs utilized by the Valuation Committee to determine the value of certain of the Fund's Level 3 financial instruments as of period end. The table does not include Level 3 financial instruments with values based upon unadjusted third-party pricing information in the amount of $269,905.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Value* | &nbsp;&nbsp;&nbsp; *Valuation* <br>*Approach*<br>| &nbsp;&nbsp;&nbsp; *Unobservable* <br>*Inputs*<br>| &nbsp;&nbsp;&nbsp; *Range of* <br>*Unobservable* <br>*Inputs* <br>*Utilized*<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; *Weighted* <br>*Average of* <br>*Unobservable* <br>*Inputs Based* <br>*on Fair Value* <br>|
| **Assets** |  |  |  |  |  |
| Direct Investments | &nbsp;&nbsp; $235675505 | Market | EBITDA Multiple | 3.25x - 29.56x | 12.62x |
|  |  |  | EBIT Multiple | 20.00x |  |
|  |  |  | Revenue Multiple | 1.35x - 18.00x | 9.05x |
|  |  |  | Volatility | 39% -52% | 45% |
|  |  |  | Time to Exit | 0.3 - 3.0 years | 1.8 years |
|  |  |  | Liquidity Discount | 5% |  |
|  |  |  | Book Value Multiple | 3.01x |  |
|  |  | Income | Discount | 16% |  |
|  |  |  | Yield | 100% |  |
| Primary Investments | &nbsp;&nbsp; 2006465 | Market | Market Adjustment Factor | 1.01x - 1.04x | 1.01x |
| Secondary Investments | &nbsp;&nbsp; 61086718 | Market | Market Adjustment Factor | 0.99x - 1.04x | 1.01x |
|  | &nbsp;&nbsp; $298768688 |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> A significant change in unobservable input could result in a correlated or inverse change in value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| AUD | Australian Dollar |
| EUR | Euro |
| GBP | British Pound |
| USD | United States Dollar |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CLO | Collateralized Loan Obligation |
| DAC | Designated Activity Company  |
| GO | General Obligation Bonds |
| SCA | Societe en Commandite par Actions |
| SOFR | Secured Overnight Financing Rate |

---

Consolidated Schedule of Investments

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Private Investments Fund

- **b. Investment Company Act file number:** 811-23584

- **c. CIK number of Registrant:** 0001816389

- **d. LEI of Registrant:** 549300Y64WQH7MUK7169

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

  - **Street Address 1:** 100 BELLEVUE PARKWAY

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Private Investments Fund

- **c. LEI of Series:** 549300Y64WQH7MUK7169

**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:** $363201548.08

**Total Liabilities:** $3527492.86

**Net Assets:** $359674055.22

**Amount of Assets Invested in Other Investment Companies:** $10518385.22

**Delayed Delivery Securities:** $427356.10

**Cash Not Reported:** $952157.80

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.91%                | 1.80%                | 2.08%                |
| Class ID N/A | 1.98%                | 1.78%                | 2.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2256197.70             | $8716890.96                                |
| Month 2  | $200450.18               | $5840895.36                                |
| Month 3  | $-3717.53                | $8006417.13                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| COLOSSUS ACQUIRECO LLC                                | COLOSSUS ACQUIRECO LLC TERM LOAN B                                       | CUSIP: 000000000<br>LEI: 2549009FT92RXWA46910 | Long             | LON              | CORP              | US        |     85000 | PA      | $84383.75     | 0.02%             | 2032-06-11      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                  | Chart Industries Inc 2024 Term Loan B                                    | CUSIP: 16115EAT4<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | LON              | CORP              | US        |     54690 | PA      | $54741.81     | 0.02%             | 2030-03-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Penn Entertainment Inc                                | PENN Entertainment Inc 2022 Term Loan B                                  | CUSIP: 70757DAZ2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     94412 | PA      | $94465.48     | 0.03%             | 2029-05-03      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                 | AMERICAN AIRLINES INC 2025 TERM LOAN B                                   | CUSIP: 02376CBT1<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |     76000 | PA      | $76418.00     | 0.02%             | 2032-05-28      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| SIERRA SPACE CORPORATION                              | SIERRA SPACE CORPORATION                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |    157964 | NS      | $1702040.77   | 0.47%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Amentum Government Services Holdings LLC              | Amentum Government Services Holdings LLC 2024 Term Loan B                | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |    102240 | PA      | $101984.40    | 0.03%             | 2031-09-29      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| VCF COMPASS CO-INVESTOR HOLDINGS II LP                | VCF COMPASS CO-INVESTOR HOLDINGS II LP                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   1641051 | NS      | $2058879.00   | 0.57%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PSP AGFS CO-INVESTMENT FUND III LP                    | PSP AGFS CO-INVESTMENT FUND III LP                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   5658841 | NS      | $7344117.41   | 2.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CLARIOS GLOBAL LP                                     | Clarios Global LP 2025 USD Term Loan B                                   | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |     25000 | PA      | $25015.75     | 0.01%             | 2032-01-28      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Flutter Financing BV                                  | Flutter Financing BV 2024 Term Loan B                                    | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |     67121 | PA      | $66869.71     | 0.02%             | 2030-11-30      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                          | US Foods Inc 2024 1st Lien Term Loan B                                   | CUSIP: 90351HAG3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | LON              | CORP              | US        |     92535 | PA      | $93239.19     | 0.03%             | 2031-10-03      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| NP Salon Co-Investment LP I                           | NP Salon Co-Investment LP I                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2000000 | NS      | $1346648.00   | 0.37%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sycamore Tree CLO Ltd                                 | Sycamore Tree CLO 2024-5 Ltd                                             | CUSIP: 87122YAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002234.00   | 0.28%             | 2036-04-20      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition LLC                            | Camelot US Acquisition LLC 2024 Term Loan B                              | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |     58583 | PA      | $57905.45     | 0.02%             | 2031-01-31      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                                | CACI International Inc Term Loan B                                       | CUSIP: 12718FAL8<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | LON              | CORP              | US        |     19900 | PA      | $19837.91     | 0.01%             | 2031-10-30      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Oryx Midstream Services Permian Basin LLC             | Oryx Midstream Services Permian Basin LLC 2025 Term Loan B               | CUSIP: 68764JAJ0<br>LEI: 254900YYHRDANYFAHC43 | Long             | LON              | CORP              | US        |     84336 | PA      | $84262.85     | 0.02%             | 2028-10-05      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| PROJECT CS CO INVEST FUND L.P.                        | PROJECT CS CO INVEST FUND L.P.                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2825429 | NS      | $4520686.40   | 1.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INFORMATICA LLC                                       | Informatica LLC 2024 Term Loan B                                         | CUSIP: 45673YAL0<br>LEI: 5493007SV33RZV7RPS40 | Long             | LON              | CORP              | US        |    168761 | PA      | $169341.90    | 0.05%             | 2028-10-27      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| AMBERJACK CAPITAL FEEDER FUND B LP                    | AMBERJACK CAPITAL FEEDER FUND B LP                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     72623 | NS      | $196195.03    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LAMB WESTON HLD                                       | Lamb Weston Holdings Inc                                                 | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    133000 | PA      | $126828.31    | 0.04%             | 2030-01-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC    | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    137000 | PA      | $136862.51    | 0.04%             | 2028-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ECO SERVICES OPERATIONS CORP                          | ECO Services Operations Corp 2024 Term Loan B                            | CUSIP: 27922JAC0<br>LEI: 254900NH3N3I82Z6Q744 | Long             | LON              | CORP              | US        |     44680 | PA      | $44336.75     | 0.01%             | 2031-06-12      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corporation                   | Six Flags Entertainment Corporation 2024 Term Loan B                     | CUSIP: 15018LAN1<br>LEI: 529900AS2CYWYFHRS781 | Long             | LON              | CORP              | US        |     21835 | PA      | $21835.00     | 0.01%             | 2031-05-01      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC                                   | SHIFT4 PAYMENTS LLC 2025 TERM LOAN                                       | CUSIP: 000000000<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |     56000 | PA      | $56437.36     | 0.02%             | 2032-05-07      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                           | Rad CLO 22 Ltd                                                           | CUSIP: 74923VAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004260.50   | 0.28%             | 2037-01-20      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| 1011778 BC Unlimited Liability Company                | 1011778 BC Unlimited Liability Company 2024 Term Loan B6                 | CUSIP: 000000000<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |    148761 | PA      | $147954.65    | 0.04%             | 2030-09-20      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| BEHRMAN CAPITAL MICROSS CF LP                         | BEHRMAN CAPITAL MICROSS CF LP                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2707702 | NS      | $5433664.74   | 1.51%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                              | Boost Newco Borrower LLC 2025 USD Term Loan B                            | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |    143281 | PA      | $143578.92    | 0.04%             | 2031-01-31      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Genesee & Wyoming Inc (New)                           | Genesee & Wyoming Inc (New) 2024 Term Loan B                             | CUSIP: 37156QAZ9<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |    165748 | PA      | $164762.96    | 0.05%             | 2031-04-10      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                | CCO Holdings LLC / CCO Holdings Capital Corp                             | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    291000 | PA      | $288318.46    | 0.08%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                   | Avantor Funding Inc                                                      | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    163000 | PA      | $160059.33    | 0.04%             | 2028-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SBA Senior Finance II LLC                             | SBA Senior Finance II LLC 2024 Term Loan B                               | CUSIP: 78404XAJ4<br>LEI: 549300PVT2ADFWMYEW87 | Long             | LON              |  | US        |    118962 | PA      | $119067.02    | 0.03%             | 2031-01-25      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| STG ALTERNATIVE INVESTMENTS SCA SICAV RAIF SUB FUND E | STG ALTERNATIVE INVESTMENTS SCA SICAV RAIF SUB FUND E                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2325413 | NS      | $5481897.15   | 1.52%             |  |  |  | Yes           |                  3 | On Loan: No      |
| THIRTY MADISON INC                                    | THIRTY MADISON INC                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     14292 | NS      | $1885225.33   | 0.52%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Dynasty Acquisition Co Inc                            | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B1                    | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |     97480 | PA      | $97493.76     | 0.03%             | 2031-10-31      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                           | OCP CLO 2021-21 Ltd                                                      | CUSIP: 671000AL1<br>LEI: 2549000M7NBNQ7XU2038 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999768.00    | 0.28%             | 2038-01-20      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                             | BlackRock Liquidity Funds: T-Fund, Institutional Shares                  | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   1710472 | NS      | $1710471.89   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| KOHLBERG TE INVESTORS VII CV L.P.                     | KOHLBERG TE INVESTORS VII CV L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   3168964 | NS      | $3955130.10   | 1.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| JAZZ FINANCING LUX SARL                               | Jazz Financing Lux Sarl 2024 1st Lien Term Loan B                        | CUSIP: 000000000<br>LEI: 635400WUEO2NSG5OIU34 | Long             | LON              | CORP              | LU        |    121645 | PA      | $122112.42    | 0.03%             | 2028-05-05      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC                 | Charter Communications Operating LLC 2024 Term Loan B5                   | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |     24875 | PA      | $24909.33     | 0.01%             | 2031-12-15      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| ATTENTIVE MOBILE                                      | ATTENTIVE MOBILE                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     74536 | NS      | $2646028.00   | 0.74%             |  |  |  | Yes           |                  3 | On Loan: No      |
| United States Treasury                                | U.S. Treasury Bills                                                      | CUSIP: 912797PU5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  14000000 | PA      | $14000000.00  | 3.89%             | 2025-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WEX INC                                               | WEX Inc 2025 Incremental Term Loan B                                     | CUSIP: 96208UAX9<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | LON              | CORP              | US        |     24938 | PA      | $24859.70     | 0.01%             | 2032-03-05      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                                           | Asurion LLC 2024 Term Loan B12                                           | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     69824 | PA      | $68012.88     | 0.02%             | 2030-09-19      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPERATING COMPANY LLC                        | Go Daddy Operating Company LLC 2024 Term Loan B7                         | CUSIP: 38017BAW6<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |     28710 | PA      | $28731.53     | 0.01%             | 2031-05-30      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                               | United Rentals North America Inc                                         | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    132000 | PA      | $135191.76    | 0.04%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DELTA 2 LUX SARL                                      | DELTA 2 LUX SARL 2024 TERM LOAN B2                                       | CUSIP: 000000000<br>LEI: 549300BBG8Z3D6QSYP53 | Long             | LON              | CORP              | LU        |     32906 | PA      | $32914.21     | 0.01%             | 2031-09-30      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                 | Prime Security Services Borrower LLC 2025 Incremental Term Loan B        | CUSIP: 03765VAQ3<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |     19950 | PA      | $19758.88     | 0.01%             | 2032-03-07      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| PAMLICO CAPITAL III CONTINUATION FUND LP              | PAMLICO CAPITAL III CONTINUATION FUND LP                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   3074708 | NS      | $5002630.43   | 1.39%             |  |  |  | Yes           |                  3 | On Loan: No      |
| API GROUP DE INC                                      | APi Group DE Inc 2025 Term Loan                                          | CUSIP: 00186XAN3<br>LEI: 549300XP4G7B4QYA0G83 | Long             | LON              | CORP              | US        |    106456 | PA      | $106450.77    | 0.03%             | 2029-01-03      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                        | TRSWAP: MODG US EQUITY                                                   | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DE               |  | US        |    473382 | OU      | $-196517.55   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Nomad Foods US LLC                                    | Nomad Foods US LLC 2023 Term Loan B5                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     47433 | PA      | $47373.58     | 0.01%             | 2029-11-12      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| PACIFIC AVENUE EMERALD CONTINUATION FUND (A) LP       | PACIFIC AVENUE EMERALD CONTINUATION FUND (A) LP                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2035590 | NS      | $3166896.03   | 0.88%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BIG RIVER STEEL/BRS FIN                               | Big River Steel LLC / BRS Finance Corp                                   | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $166331.88    | 0.05%             | 2029-01-31      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                   | Medline Borrower LP 2024 USD Add-on Term Loan B                          | CUSIP: 58503UAF0<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    254361 | PA      | $254485.54    | 0.07%             | 2028-10-23      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| MINIMAX VIKING GMBH                                   | Minimax Viking GmbH 2025 USD Term Loan B                                 | CUSIP: 55404TAF9<br>LEI: 549300RKTIVJWNROR778 | Long             | LON              | CORP              | US        |     15000 | PA      | $15056.25     | 0.00%             | 2032-03-17      | Floating      | 6.56%                 | No            |                  3 | On Loan: No      |
| Ballyrock Ltd                                         | Ballyrock CLO 22 Ltd                                                     | CUSIP: 05877GAE3<br>LEI: 254900XC0FEB91ZCO167 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004281.90   | 0.28%             | 2037-04-15      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Corpay Technologies Operating Company LLC             | Corpay Technologies Operating Company LLC Term Loan B5                   | CUSIP: 33903RAZ2<br>LEI: 549300FKKKZCXLK48427 | Long             | LON              | CORP              | US        |    181212 | PA      | $181173.90    | 0.05%             | 2028-04-28      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Elanco Animal Health Incorporated                     | Elanco Animal Health Inc Term Loan B                                     | CUSIP: 28414BAF3<br>LEI: 549300SHPNDCE059M934 | Long             | LON              | CORP              | US        |    106112 | PA      | $105993.63    | 0.03%             | 2027-08-01      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| AMBERJACK CAPITAL FEEDER FUND CAYMAN LP               | AMBERJACK CAPITAL FEEDER FUND CAYMAN LP                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     16973 | NS      | $79713.00     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GENERAC POWER SYSTEMS INC                             | Generac Power Systems Inc 2024 Term Loan B                               | CUSIP: 36874VAQ1<br>LEI: 549300JQWLGGW8KC1X38 | Long             | LON              | CORP              | US        |     33013 | PA      | $32998.76     | 0.01%             | 2031-07-03      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Sycamore Tree CLO Ltd                                 | Sycamore Tree CLO 2023-3 Ltd                                             | CUSIP: 87122FAN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005773.00   | 0.28%             | 2037-04-20      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                      | Bain Capital Credit CLO 2022-2 Ltd                                       | CUSIP: 05682GAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1003090.20   | 0.28%             | 2035-04-22      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| Setanta Aircraft Leasing Designated Activity Company  | Setanta Aircraft Leasing Designated Activity Company 2024 Term Loan B    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IE        |     69500 | PA      | $69822.48     | 0.02%             | 2028-11-05      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                  | REWORLD HOLDING CORP 2025 TERM LOAN C                                    | CUSIP: 22282GAQ0<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |      2808 | PA      | $2807.53      | 0.00%             | 2028-11-30      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                  | Reworld Holding Corp Term Loan B                                         | CUSIP: 22282GAM9<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |     74058 | PA      | $74150.38     | 0.02%             | 2028-11-30      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Company LLC                         | Vistra Operations Company LLC 1st Lien Term Loan B3                      | CUSIP: 88233FAK6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |     29773 | PA      | $29833.13     | 0.01%             | 2030-12-20      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| LIFE TIME FITNESS INC                                 | Life Time Fitness Inc 2024 Term Loan B                                   | CUSIP: 50218KAM0<br>LEI: 549300PALKE96VYH4X17 | Long             | LON              | CORP              | US        |     12935 | PA      | $12960.87     | 0.00%             | 2031-11-05      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| Zurn Holdings Inc                                     | Zurn Holdings Inc 2021 Term Loan B                                       | CUSIP: 76168JAS5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     48312 | PA      | $48527.71     | 0.01%             | 2028-10-04      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| CCC Intelligent Solutions Inc                         | CCC Intelligent Solutions Inc Term Loan                                  | CUSIP: 12511BAC6<br>LEI: 5493006JEEL9RIWY5T17 | Long             | LON              | CORP              | US        |     55845 | PA      | $55837.99     | 0.02%             | 2032-01-23      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                              | Vertiv Group Corporation 2024 Term Loan B                                | CUSIP: 92537EAF5<br>LEI: 549300ZT8RQ5VK10E643 | Long             | LON              | CORP              | US        |     90177 | PA      | $90243.58     | 0.03%             | 2027-03-02      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| VIZIENT INC                                           | Vizient Inc 2024 Term Loan B                                             | CUSIP: 92855LAR7<br>LEI: 5493007V6T3HZ7777P70 | Long             | LON              | CORP              | US        |     38931 | PA      | $38980.02     | 0.01%             | 2031-08-01      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Perrigo Investments, LLC                              | Perrigo Investments LLC 2024 Term Loan B                                 | CUSIP: 71429TAF7<br>LEI: 549300POZGC78VHAAJ73 | Long             | LON              | CORP              | US        |     52992 | PA      | $52969.91     | 0.01%             | 2029-04-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                              | Antero Midstream Partners LP / Antero Midstream Finance Corp             | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24969.43     | 0.01%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO                                  | Diameter Capital CLO 10 Ltd                                              | CUSIP: 25290BAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000891.00   | 0.28%             | 2038-04-20      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| GIP Pilot Acquisition Partners LP                     | GIP Pilot Acquisition Partners LP 2025 Term Loan B                       | CUSIP: 31773HAE2<br>LEI: 254900NQOAOPPA12X060 | Long             | LON              | CORP              | US        |     28711 | PA      | $28735.15     | 0.01%             | 2030-10-04      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| Option Care Health Inc                                | Option Care Health Inc 2021 Term Loan B                                  | CUSIP: 68404YAB0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | LON              | CORP              | US        |     52545 | PA      | $52819.07     | 0.01%             | 2028-10-27      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                              | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                      | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    154000 | PA      | $150191.50    | 0.04%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Minerals Technologies Inc                             | Minerals Technologies Inc 2024 Term Loan B                               | CUSIP: 60315GAH1<br>LEI: 549300D3I1QU67GP6403 | Long             | LON              | CORP              | US        |     44775 | PA      | $44719.03     | 0.01%             | 2031-11-26      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| DAYFORCE INC                                          | Dayforce Inc 2025 Term Loan B                                            | CUSIP: 23958CAD9<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |     62372 | PA      | $62371.58     | 0.02%             | 2031-03-01      | Floating      | 6.28%                 | No            |                  3 | On Loan: No      |
| FLEXE, INC.                                           | FLEXE, INC.                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     84056 | NS      | $1600369.33   | 0.44%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Oak Hill Credit                                       | OHA Credit Funding 17 Ltd                                                | CUSIP: 67109SAA5<br>LEI: 254900ZA7EPUCGQUTA43 | Long             | ABS-CBDO         | CORP              | BM        |   1000000 | PA      | $1003176.30   | 0.28%             | 2037-04-20      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| RB Rouge Co-Invest B LP                               | RB Rouge Co-Invest B LP                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2995397 | NS      | $4996666.67   | 1.39%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Axalta Coating Systems U.S. Holdings, Inc.            | Axalta Coating Systems US Holdings Inc 2024 Term Loan B                  | CUSIP: 90347BAP3<br>LEI: 549300NZ43V4QV4UGN28 | Long             | LON              | CORP              | US        |     78708 | PA      | $78900.96     | 0.02%             | 2029-12-20      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| Whitewater Matterhorn Holdings LLC                    | WHITEWATER MATTERHORN HOLD LLC 2025 TERM LOAN B                          | CUSIP: 000000000<br>LEI: 2138009J7G187M6C4Q91 | Long             | LON              | CORP              | US        |     16000 | PA      | $15976.64     | 0.00%             | 2032-06-16      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| UFC HOLDINGS LLC                                      | UFC Holdings LLC 2024 Term Loan B                                        | CUSIP: 90266UAK9<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |     81590 | PA      | $81857.62     | 0.02%             | 2031-11-21      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| WEX INC                                               | WEX Inc 2024 Term Loan B2                                                | CUSIP: 96208UAW1<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | LON              | CORP              | US        |     59574 | PA      | $59540.68     | 0.02%             | 2028-03-31      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                     | HERC HOLDINGS INC TERM LOAN B                                            | CUSIP: 000000000<br>LEI: 549300TP80QLITMSBP82 | Long             | LON              | CORP              | US        |     38000 | PA      | $38110.96     | 0.01%             | 2032-06-02      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| BCP VI CENTRAL CO INVEST L.P.                         | BCP VI CENTRAL CO INVEST L.P.                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | CA        |   7892058 | NS      | $11998042.88  | 3.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INEOS US Finance LLC                                  | Ineos US Finance LLC 2021 USD Term Loan B                                | CUSIP: 45672JAL4<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |     47007 | PA      | $45479.33     | 0.01%             | 2028-11-08      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| SIERRA SPACE CORPORATION                              | SIERRA SPACE CORPORATION                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      5768 | NS      | $67827.42     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Celestica Inc                                         | Celestica Inc 2024 Term Loan B                                           | CUSIP: 000000000<br>LEI: 549300J3CG5T6RZWLN53 | Long             | LON              | CORP              | CA        |     35640 | PA      | $35640.00     | 0.01%             | 2031-06-20      | Floating      | 6.07%                 | No            |                  3 | On Loan: No      |
| SMYRNA READY MIX CONCRETE LLC                         | Smyrna Ready Mix Concrete LLC 2025 Term Loan B                           | CUSIP: 83283EAK9<br>LEI: 549300S7RFWHQFOIOY93 | Long             | LON              | CORP              | US        |     23554 | PA      | $23627.61     | 0.01%             | 2029-04-02      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| INSULET CORPORATION                                   | INSULET CORPORATION 2025 TERM LOAN                                       | CUSIP: 45784QAF6<br>LEI: 549300TZTYD2PYN92D43 | Long             | LON              | CORP              | US        |     26791 | PA      | $26947.42     | 0.01%             | 2031-08-04      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                 | Palmer Square CLO 2020-3 Ltd                                             | CUSIP: 69701RAY3<br>LEI: 549300IUW4WDDDVSMS20 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1004102.00   | 0.28%             | 2036-11-15      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                             | Block Inc                                                                | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    210000 | PA      | $205596.93    | 0.06%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                     | Iron Mountain Inc                                                        | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    162000 | PA      | $167702.56    | 0.05%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Entegris Inc                                          | Entegris Inc 2023 Term Loan B                                            | CUSIP: 29362LAM6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | LON              | CORP              | US        |     19634 | PA      | $19726.18     | 0.01%             | 2029-07-06      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                              | Advanced Drainage Systems Inc                                            | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    215000 | PA      | $213301.82    | 0.06%             | 2027-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IK IX LUXCO 15 SARL                                   | IK IX LUXCO 15 SARL                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | LU        |     14391 | NS      | $23306.37     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CARNIVAL CORPORATION                                  | Carnival Corporation 2025 Term Loan (2027)                               | CUSIP: 000000000<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | LON              | CORP              | PA        |      5547 | PA      | $5542.15      | 0.00%             | 2027-08-08      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Bright Horizons Family Solutions LLC                  | Bright Horizons Family Solutions LLC 2024 Term Loan B                    | CUSIP: 10919RAP4<br>LEI: 254900BHOU40CFNXWQ75 | Long             | LON              | CORP              | US        |    115000 | PA      | $115263.35    | 0.03%             | 2028-11-24      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                             | Caesars Entertainment Inc Term Loan B                                    | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    123038 | PA      | $122791.81    | 0.03%             | 2030-02-06      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| MOTIVE WITH CO INVESTMENT LP                          | MOTIVE WITH CO INVESTMENT LP                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   4191609 | NS      | $5681595.56   | 1.58%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PACP CARTA CO INVEST, LP                              | PACP CARTA CO INVEST, LP                                                 | CUSIP: 948WZRII0<br>LEI: N/A                  | Long             |  | PF                | US        |   2215928 | NS      | $3435399.71   | 0.96%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cushman & Wakefield U.S. Borrower, LLC                | Cushman & Wakefield US Borrower LLC 2024 Tranche 2 Incremental Term Loan | CUSIP: 23340DAU6<br>LEI: 549300870CMN3WI5IF97 | Long             | LON              | CORP              | US        |     15160 | PA      | $15216.85     | 0.00%             | 2030-01-31      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Froneri Lux Finco Sarl                                | Froneri Lux Finco Sarl 2024 USD Term Loan B4                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    163135 | PA      | $161198.48    | 0.04%             | 2031-09-30      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| GROTECH VENTURES III LP                               | GROTECH VENTURES III LP                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   1363075 | NS      | $1239909.17   | 0.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ASGN Incorporated                                     | ASGN Inc 2024 Term Loan B                                                | CUSIP: 00218JAD8<br>LEI: LZBNYYCBUKY537072438 | Long             | LON              | CORP              | US        |     11790 | PA      | $11808.39     | 0.00%             | 2030-08-30      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Element Solutions Inc                                 | Element Solutions Inc 2023 Term Loan B                                   | CUSIP: 72766TAH2<br>LEI: 549300FLGN6P5CU20J91 | Long             | LON              | CORP              | US        |     86227 | PA      | $86424.35     | 0.02%             | 2030-12-18      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                          | Novelis Corp                                                             | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    209000 | PA      | $205650.86    | 0.06%             | 2026-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                         | TransDigm Inc 2023 Term Loan J                                           | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    262486 | PA      | $262932.71    | 0.07%             | 2031-02-28      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                                     | Clarios Global LP 2024 USD Term Loan B                                   | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |     96515 | PA      | $96153.07     | 0.03%             | 2030-05-06      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| GATES GLOBAL LLC                                      | Gates Global LLC 2024 Term Loan B5                                       | CUSIP: 36740UAY8<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |     97264 | PA      | $97186.28     | 0.03%             | 2031-06-04      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Pike Corporation                                      | Pike Corporation 2021 Incremental Term Loan B                            | CUSIP: 72108PAR5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | LON              | CORP              | US        |     30000 | PA      | $30154.20     | 0.01%             | 2028-01-21      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| ICON Luxembourg Sarl                                  | ICON Luxembourg SARL 2024 LUX Term Loan B                                | CUSIP: 000000000<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | LU        |     35847 | PA      | $36054.44     | 0.01%             | 2028-07-03      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP                                  | WMG Acquisition Corp 2024 Term Loan J                                    | CUSIP: 92929LBA5<br>LEI: 549300NAS11NXI33CP80 | Long             | LON              | CORP              | US        |    191000 | PA      | $191179.54    | 0.05%             | 2031-01-24      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| TTF Solutions, LLC                                    | TTF Solutions, LLC                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   4372048 | NS      | $4444916.92   | 1.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| REWORLD HOLDING CORP                                  | REWORLD HOLDING CORP 2025 TERM LOAN B                                    | CUSIP: 22282GAP2<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |     50985 | PA      | $50985.24     | 0.01%             | 2028-11-30      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORPORATION                                   | Novelis Corporation 2025 Term Loan B                                     | CUSIP: 67000LAB8<br>LEI: 549300ZJQN1PEAT42X90 | Long             | LON              | CORP              | US        |     46882 | PA      | $46941.10     | 0.01%             | 2032-03-11      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| ANGEL LUX HOLDCO II S.A R.L.                          | ANGEL LUX HOLDCO II S.A R.L.                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | LU        |     14987 | NS      | $1048064.42   | 0.29%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Concentra Health Services Inc                         | Concentra Health Services Inc 2025 Repriced Term Loan B                  | CUSIP: 20602RAD2<br>LEI: 984500GB84105F75DE32 | Long             | LON              | CORP              | US        |     53730 | PA      | $53864.67     | 0.01%             | 2031-07-26      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| GA ATLAS, L.P.                                        | GA ATLAS, L.P.                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2969987 | NS      | $2463565.23   | 0.68%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HORIZON CO INVESTMENT, L.P.                           | HORIZON CO INVESTMENT, L.P.                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | KY        |   1760000 | NS      | $2092534.40   | 0.58%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GYP Holdings III Corp                                 | GYP Holdings III Corp 2024 Term Loan                                     | CUSIP: 36249VAK2<br>LEI: 549300055I1KJWZH9690 | Long             | LON              | CORP              | US        |    127594 | PA      | $127593.73    | 0.04%             | 2030-05-12      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| CHARME ANIMALIA COINVESTMENT FUND                     | CHARME ANIMALIA COINVESTMENT FUND                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | IT        |   3291368 | NS      | $3890669.34   | 1.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DK CROWN HOLDINGS INC                                 | DK Crown Holdings Inc 2025 Term Loan B                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     44912 | PA      | $44744.08     | 0.01%             | 2032-03-04      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                              | Standard Industries Inc/NY                                               | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    324000 | PA      | $320399.61    | 0.09%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| STRIPE INC                                            | STRIPE INC                                                               | CUSIP: 000000000<br>LEI: 549300CLHGIPTCYHQ143 | Long             |  | PF                | US        |     97460 | NS      | $3459830.00   | 0.96%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CLEAN HARBORS INC                                     | Clean Harbors Inc 2024 Term Loan B                                       | CUSIP: 18449EAH3<br>LEI: 5493000SJVZVZJKHJF48 | Long             | LON              | CORP              | US        |     93555 | PA      | $94349.76     | 0.03%             | 2028-10-09      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| VISTA EQUITY PARTNERS HUBBLE L.P.                     | VISTA EQUITY PARTNERS HUBBLE L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  13323750 | NS      | $13320006.03  | 3.70%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PROVIDENCE EQUITY PTNRS VII LP                        | PROVIDENCE EQUITY PTNRS VII LP                                           | CUSIP: 000000000<br>LEI: 549300WQVK43AGRMH093 | Long             |  | PF                | XX        |   3193674 | NS      | $2384879.13   | 0.66%             |  |  |  | No            |                  3 | On Loan: No      |
| Crocs Inc                                             | Crocs Inc 2024 Term Loan                                                 | CUSIP: 22704NAF9<br>LEI: 549300B0J6YCXD63OG72 | Long             | LON              | CORP              | US        |     47706 | PA      | $47911.81     | 0.01%             | 2029-02-19      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| LOTUS CO INVEST L.P.                                  | LOTUS CO INVEST L.P.                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |   2664547 | NS      | $4466857.25   | 1.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| JOHN BEAN TECHNOLOGIES CORP                           | John Bean Technologies Corp Term Loan B                                  | CUSIP: 000000000<br>LEI: 5493007CT6ATBZ2L6826 | Long             | LON              | CORP              | US        |     10972 | PA      | $10999.93     | 0.00%             | 2032-01-02      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| INOVIA CONTINUITY FUND I, L.P.                        | INOVIA CONTINUITY FUND I, L.P.                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2089671 | NS      | $2559675.78   | 0.71%             |  |  |  | Yes           |                  3 | On Loan: No      |
| STAR VICTOR CO INVESTMENT LP                          | STAR VICTOR CO INVESTMENT LP                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   5273038 | NS      | $5859700.39   | 1.63%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ENTEGRIS INC                                          | Entegris Inc                                                             | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    218000 | PA      | $215582.49    | 0.06%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fanatics Commerce Intermediate Holdco LLC             | Fanatics Commerce Intermediate Holdco LLC Term Loan B                    | CUSIP: 30709UAB0<br>LEI: 254900YDIRBC66RGAG10 | Long             | LON              | CORP              | US        |     19614 | PA      | $19565.18     | 0.01%             | 2028-11-24      | Floating      | 7.69%                 | No            |                  3 | On Loan: No      |
| Benefit Street Partners CLO Ltd                       | Benefit Street Partners CLO XXI Ltd                                      | CUSIP: 08186RAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001627.10   | 0.28%             | 2034-10-15      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| ECOVADIS S.A.S.                                       | ECOVADIS S.A.S.                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |      2380 | NS      | $1231635.57   | 0.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ZOOMINFO LLC                                          | ZoomInfo LLC 2024 Term Loan B                                            | CUSIP: 25471YAN2<br>LEI: 549300XF0FRWD2286I33 | Long             | LON              | CORP              | US        |      9900 | PA      | $9833.73      | 0.00%             | 2030-02-28      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| ROARK CAPITAL PARTNERS CF LP                          | ROARK CAPITAL PARTNERS CF LP                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2624494 | NS      | $4302818.07   | 1.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PLATINUM EQUITY CONTINUATION FUND LP                  | PLATINUM EQUITY CONTINUATION FUND LP                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   1717529 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                          | Wyndham Hotels & Resorts Inc 2024 Term Loan                              | CUSIP: 98310CAF9<br>LEI: 549300FE3MQ4RVXXC673 | Long             | LON              | CORP              | US        |    180935 | PA      | $181548.23    | 0.05%             | 2030-05-24      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| SeaWorld Parks & Entertainment Inc                    | SeaWorld Parks & Entertainment Inc 2024 Term Loan B3                     | CUSIP: 78488CAL4<br>LEI: 549300UZV72O3371JJ53 | Long             | LON              | CORP              | US        |     72599 | PA      | $72417.04     | 0.02%             | 2031-12-04      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                | U.S. Treasury Bills                                                      | CUSIP: 912797QA8<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   3000000 | PA      | $2995155.42   | 0.83%             | 2025-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Emrld Borrower LP                                     | EMRLD Borrower LP Term Loan B                                            | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    108403 | PA      | $108252.41    | 0.03%             | 2030-05-31      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| CPI HOLDCO B LLC                                      | CPI Holdco B LLC 2024 Term Loan                                          | CUSIP: 1261MAAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    106377 | PA      | $106004.96    | 0.03%             | 2031-05-19      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                              | RHP Hotel Properties LP / RHP Finance Corp                               | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              |  | US        |     81000 | PA      | $79168.44     | 0.02%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Gates Global LLC                                      | Gates Global LLC 2022 Term Loan B4                                       | CUSIP: 36740UAX0<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |     72876 | PA      | $72818.39     | 0.02%             | 2029-11-16      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Sand Trust                                            | Sandstone Peak II Ltd                                                    | CUSIP: 80013TAG8<br>LEI: 254900ZRRTOYR8JJD593 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000000.00   | 0.28%             | 2036-07-20      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                                | Clearway Energy Operating LLC                                            | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    347000 | PA      | $342865.88    | 0.10%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                        | NRG Energy Inc 2024 Term Loan                                            | CUSIP: 62937NBC0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | LON              | CORP              | US        |     99817 | PA      | $99941.67     | 0.03%             | 2031-04-16      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| SAZERAC COMPANY INC                                   | SAZERAC COMPANY INC TERM LOAN B                                          | CUSIP: 80583EAN6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     61000 | PA      | $60923.75     | 0.02%             | 2032-06-25      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Air Canada                                            | Air Canada 2024 Term Loan B                                              | CUSIP: 000000000<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | LON              | CORP              | CA        |    104704 | PA      | $104671.88    | 0.03%             | 2031-03-21      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                           | Asurion LLC 2023 Term Loan B11                                           | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    114707 | PA      | $113374.89    | 0.03%             | 2028-08-19      | Floating      | 8.68%                 | No            |                  2 | On Loan: No      |
| Playtika Holding Corp                                 | Playtika Holding Corp 2021 Term Loan B1                                  | CUSIP: 72814CAF5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | LON              | CORP              | US        |     75380 | PA      | $74000.11     | 0.02%             | 2028-03-13      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| ATTENTIVE MOBILE                                      | ATTENTIVE MOBILE                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     13033 | NS      | $462671.50    | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Silver Point CLO, Ltd                                 | Silver Point Clo 4 Ltd                                                   | CUSIP: 82809EAA8<br>LEI: 254900DVAEEJOXQ8PL85 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1003956.80   | 0.28%             | 2037-04-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                | Match Group Holdings II LLC                                              | CUSIP: 57665RAN6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    333000 | PA      | $324949.66    | 0.09%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                            | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B2                    | CUSIP: 26812CAP1<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |     37749 | PA      | $37754.39     | 0.01%             | 2031-10-31      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTERNATIONAL INC                          | SOMNIGROUP INTERNATIONAL INC TERM LOAN B                                 | CUSIP: 88025BAP6<br>LEI: 549300HFEKVR3US71V91 | Long             | LON              | CORP              | US        |      6000 | PA      | $6010.02      | 0.00%             | 2031-10-24      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                         | TransDigm Inc 2024 Term Loan                                             | CUSIP: 89364MCD4<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |     36722 | PA      | $36771.71     | 0.01%             | 2032-01-19      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                               | RHP Hotel Properties LP 2024 1st Lien Term Loan B                        | CUSIP: 74958NAL0<br>LEI: 549300SJMSMA2471GA96 | Long             | LON              |  | US        |     58265 | PA      | $58082.93     | 0.02%             | 2030-05-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| TPG ETERNAL CO INVEST II, L.P.                        | TPG ETERNAL CO INVEST II, L.P.                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | KY        |   6411879 | NS      | $5139048.68   | 1.43%             |  |  |  | Yes           |                  3 | On Loan: No      |
| REWORLD HOLDING CORP                                  | Reworld Holding Corp Term Loan C                                         | CUSIP: 22282GAN7<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |      5718 | PA      | $5725.39      | 0.00%             | 2028-11-30      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                             | Caesars Entertainment Inc 2024 Term Loan B1                              | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |     67150 | PA      | $67024.43     | 0.02%             | 2031-02-06      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| PROVIDENCE EQ PTN IX A S.C.SP.                        | PROVIDENCE EQ PTN IX A S.C.SP.                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   1691652 | NS      | $1810368.75   | 0.50%             |  |  |  | No            |                  3 | On Loan: No      |
| Asplundh Tree Expert LLC                              | Asplundh Tree Expert LLC 2021 Term Loan B                                | CUSIP: 04538FAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     89802 | PA      | $89954.12     | 0.03%             | 2027-09-07      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| NC HARP CO INVEST BETA, L.P.                          | NC HARP CO INVEST BETA, L.P.                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |   9923135 | NS      | $13961689.21  | 3.88%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GROTECH VENTURES IV LP                                | GROTECH VENTURES IV LP                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |    202397 | NS      | $196095.98    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Avantor Funding Inc                                   | Avantor Funding Inc 2024 Term Loan                                       | CUSIP: 05350NAP9<br>LEI: 5493003VM0XB4U8YD238 | Long             | LON              | CORP              | US        |      8033 | PA      | $8060.13      | 0.00%             | 2027-11-08      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| VCF COMPASS CO INVESTOR HOLDINGS LP                   | VCF COMPASS CO INVESTOR HOLDINGS LP                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  12429050 | NS      | $15593610.42  | 4.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IQVIA Inc                                             | IQVIA Inc                                                                | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    208000 | PA      | $207786.95    | 0.06%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                               | SBA Communications Corp                                                  | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |    225000 | PA      | $212507.51    | 0.06%             | 2029-02-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| BLUEGEM III CO INVEST A, SCSP                         | BLUEGEM III CO INVEST A, SCSP                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | LU        |   1017252 | NS      | $1175743.38   | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CD+R OPAL CO INVESTOR, L.P.                           | CD+R OPAL CO INVESTOR, L.P.                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   5919535 | NS      | $6042110.81   | 1.68%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIENA CORPORATION                                     | Ciena Corporation 2025 Repriced Term Loan B                              | CUSIP: 17178HAR3<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | LON              | CORP              | US        |     90484 | PA      | $90822.94     | 0.03%             | 2030-10-24      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Core & Main LP                                        | Core & Main LP 2024 Term Loan E                                          | CUSIP: 40416VAH8<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |     83027 | PA      | $83062.27     | 0.02%             | 2031-02-09      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| LINDSAY GOLDBERG-TORREY CO-INV                        | LINDSAY GOLDBERG-TORREY CO-INV                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   4775866 | NS      | $5282666.57   | 1.47%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MKS Instruments Inc                                   | MKS Instruments Inc 2025 USD Repriced Term Loan                          | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |    124551 | PA      | $124675.70    | 0.03%             | 2029-08-17      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| IK IX LUXCO 15 SARL                                   | IK IX LUXCO 15 SARL                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | LU        |   3483941 | NS      | $5294639.36   | 1.47%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ECOVADIS S.A.S.                                       | ECOVADIS S.A.S.                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |       780 | NS      | $403646.97    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WHITEWATER DBR HOLDCO LLC                             | WhiteWater DBR HoldCo LLC 1st Lien Term Loan B                           | CUSIP: 96616PAD0<br>LEI: 21380025GXMNBTSJP816 | Long             | LON              | CORP              | US        |     26798 | PA      | $26797.84     | 0.01%             | 2031-03-03      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                   | Clarivate Science Holdings Corp                                          | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $78599.01     | 0.02%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                                      | Flatiron CLO 20 Ltd                                                      | CUSIP: 33883MAL8<br>LEI: 25490077CXFU133A8B24 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003005.20   | 0.28%             | 2036-05-20      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Sycamore Tree CLO Ltd                                 | Sycamore Tree CLO 2024-5 Ltd                                             | CUSIP: 87122YAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002001.20   | 0.28%             | 2036-04-20      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| AZZ Inc                                               | AZZ Inc Term Loan B                                                      | CUSIP: 00247NAG7<br>LEI: 549300HD1X2NFLWPYC83 | Long             | LON              | CORP              | US        |     19539 | PA      | $19631.10     | 0.01%             | 2029-05-13      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Trans Union LLC                                       | Trans Union LLC 2024 Term Loan B8                                        | CUSIP: 89334GBF0<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |    231975 | PA      | $232160.89    | 0.06%             | 2031-06-24      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL EMPIRE HOLDINGS LP                       | BAIN CAPITAL EMPIRE HOLDINGS LP                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   3403846 | NS      | $3473573.76   | 0.97%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VESTAR CAPITAL PARTNERS RAINFOREST LP                 | VESTAR CAPITAL PARTNERS RAINFOREST LP                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   6138321 | NS      | $9000000.04   | 2.50%             |  |  |  | Yes           |                  3 | On Loan: No      |
| REYNOLDS CONSUMER PRODUCTS LLC                        | Reynolds Consumer Products LLC 2025 Term Loan B                          | CUSIP: 76171JAE1<br>LEI: 549300DWNZYMOSR1X343 | Long             | LON              | CORP              | US        |     19950 | PA      | $20016.43     | 0.01%             | 2032-03-04      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Primo Brands Corporation                              | Primo Brands Corporation 2025 Term Loan B                                | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |     95520 | PA      | $95819.93     | 0.03%             | 2028-03-31      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FINANCE LLC                                 | Jefferies Finance LLC 2024 Term Loan                                     | CUSIP: 000000000<br>LEI: 549300SKVB18YSSIDT75 | Long             | LON              | CORP              | US        |     31840 | PA      | $31879.80     | 0.01%             | 2031-10-21      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Dun & Bradstreet Corporation (The)                    | Dun & Bradstreet Corporation (The) 2024 Term Loan                        | CUSIP: 26483NAW0<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |    101712 | PA      | $101624.86    | 0.03%             | 2029-01-18      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                               | Talen Energy Supply LLC 2024-1 Incremental Term Loan                     | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |     72635 | PA      | $72782.45     | 0.02%             | 2031-12-15      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                              | American Airlines Inc/AAdvantage Loyalty IP Ltd                          | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     22333 | PA      | $22282.10     | 0.01%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                 | Prime Security Services Borrower LLC 2024 1st Lien Term Loan B           | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |     53462 | PA      | $53461.68     | 0.01%             | 2030-10-13      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| FLUTTER FINANCING BV                                  | FLUTTER FINANCING BV 2025 TERM LOAN B                                    | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |     30000 | PA      | $29962.50     | 0.01%             | 2032-06-04      | Floating      | 6.30%                 | No            |                  3 | On Loan: No      |
| BNP PARIBAS SA                                        | TRSWAP: DV US EQUITY                                                     | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DE               |  | US        |     79389 | OU      | $-15849.22    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ATLAS CO INVESTMENT FUND 2 LP                         | ATLAS CO INVESTMENT FUND 2 LP                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |    796669 | NS      | $1129204.11   | 0.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Apidos CLO Ltd                                        | Apidos CLO XXXVII                                                        | CUSIP: 03769HAA5<br>LEI: 549300OGB01ASKLNI660 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001003.90   | 0.28%             | 2034-10-22      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                        | TRSWAP: MODG US EQUITY                                                   | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DE               |  | US        |    189976 | OU      | $-51390.10    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| THIRTY MADISON INC.                                   | THIRTY MADISON INC.                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |    608807 | NS      | $1883158.14   | 0.52%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FOUR SEASONS HOTELS LIMITED                           | Four Seasons Hotels Limited 2024 1st Lien Term Loan B                    | CUSIP: 000000000<br>LEI: 5493009FUVX8LHYY2202 | Long             | LON              | CORP              | CA        |     78259 | PA      | $78650.63     | 0.02%             | 2029-11-30      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                      | CIFC Funding 2021-VI Ltd                                                 | CUSIP: 12553SAC8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001201.50   | 0.28%             | 2034-10-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| YELLOWSTONE ULTIMATE HOLDINGS LP                      | YELLOWSTONE ULTIMATE HOLDINGS LP                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   5095482 | NS      | $7200104.60   | 2.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GEN DIGITAL INC                                       | Gen Digital Inc 2025 Term Loan B                                         | CUSIP: 66877AAG3<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |     21000 | PA      | $20952.75     | 0.01%             | 2032-04-16      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Delta 2 (LUX) S.a.r.l.                                | Delta 2 (LUX) Sarl 2024 Term Loan B1                                     | CUSIP: 000000000<br>LEI: 549300BBG8Z3D6QSYP53 | Long             | LON              | CORP              | LU        |     65953 | PA      | $65969.38     | 0.02%             | 2031-09-30      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| CPG INTERNATIONAL INC                                 | CPG International Inc 2024 Term Loan B                                   | CUSIP: 05478EAC5<br>LEI: 549300SVLALB4NVWP891 | Long             | LON              | CORP              | US        |     37810 | PA      | $37762.74     | 0.01%             | 2031-09-26      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Vestis Corporation                                    | Vestis Corporation Term Loan                                             | CUSIP: 92550HAE3<br>LEI: 254900QDW0TA2TMFAP59 | Long             | LON              | CORP              | US        |     23225 | PA      | $22208.91     | 0.01%             | 2031-02-22      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                   | Station Casinos LLC 2024 Term Loan B                                     | CUSIP: 85769EBB6<br>LEI: 5493004E7Q60TX54WL62 | Long             | LON              | CORP              | US        |    112575 | PA      | $112711.22    | 0.03%             | 2031-03-14      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                       | Golub Capital Partners CLO 55B LTD                                       | CUSIP: 38178LAA7<br>LEI: 254900ZZ9HHZTOQ1XK24 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000945.20   | 0.28%             | 2034-07-20      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| TEMPO ACQUISITION LLC                                 | Tempo Acquisition LLC 2025 Repriced Term Loan B                          | CUSIP: 88023HAJ9<br>LEI: 549300VV0B2RPMHQGA61 | Long             | LON              | CORP              | US        |    138052 | PA      | $137383.45    | 0.04%             | 2028-08-31      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                  | Charter Communications Operating LLC 2023 Term Loan B4                   | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |     35328 | PA      | $35299.32     | 0.01%             | 2030-12-07      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                 | Quikrete Holdings Inc 2025 Term Loan B                                   | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    169575 | PA      | $169278.24    | 0.05%             | 2032-02-10      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| PAI MMF MASTER SARL SICAV-RAIF                        | PAI MMF MASTER SARL SICAV-RAIF                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | LU        |   3069142 | NS      | $3723944.74   | 1.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ALBION FINANCING 3 SARL                               | Albion Financing 3 SARL 2025 USD Term Loan B                             | CUSIP: 00847NAE6<br>LEI: 213800VFJ5CIN2NUQ821 | Long             | LON              | CORP              | US        |     30691 | PA      | $30710.12     | 0.01%             | 2029-08-16      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                   | United Airlines Inc 2024 1st Lien Term Loan B                            | CUSIP: 90932RAP9<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |     81213 | PA      | $81247.31     | 0.02%             | 2031-02-22      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                   | Go Daddy Operating Co LLC / GD Finance Co Inc                            | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    118000 | PA      | $117839.15    | 0.03%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                        | CarVal CLO XI C Ltd                                                      | CUSIP: 14688RAA8<br>LEI: 254900BDRF474L9PWM54 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003965.30   | 0.28%             | 2037-10-20      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| Allison Transmission Inc                              | Allison Transmission Inc 2024 Term Loan                                  | CUSIP: 01973KAH9<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | LON              | CORP              | US        |     47749 | PA      | $47888.83     | 0.01%             | 2031-03-13      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| Belron Finance 2019 LLC                               | Belron Finance 2019 LLC 2024 USD Term Loan B                             | CUSIP: 08078UAM5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    194766 | PA      | $195444.09    | 0.05%             | 2031-10-16      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| Murphy USA Inc                                        | Murphy USA Inc Term Loan B                                               | CUSIP: 62675KAB5<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | LON              | CORP              | US        |     43000 | PA      | $43299.28     | 0.01%             | 2032-04-07      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| PRA Health Sciences Inc                               | PRA Health Sciences Inc 2024 US Term Loan B                              | CUSIP: 000000000<br>LEI: 549300R1HR1VWWHIAK47 | Long             | LON              | CORP              | US        |      8931 | PA      | $8982.96      | 0.00%             | 2028-07-03      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                            | Avis Budget Car Rental LLC 2020 Term Loan B                              | CUSIP: 05377JAR3<br>LEI: XN8R4HH1TVC1XOCL5P21 | Long             | LON              | CORP              | US        |     46048 | PA      | $45587.65     | 0.01%             | 2027-08-06      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                                  | Aramark Services Inc 2024 Term Loan B8                                   | CUSIP: 03852JAV3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |    165897 | PA      | $166104.44    | 0.05%             | 2030-06-22      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| AQUILINE MADONNA CO INVEST L.P                        | AQUILINE MADONNA CO INVEST L.P                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | KY        |   5934740 | NS      | $6798648.23   | 1.89%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ZENYTH PARTNERS LP                                    | ZENYTH PARTNERS LP                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   5056960 | NS      | $7929207.73   | 2.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| C BRIDGE INVESTMENT YANENG LTD                        | C BRIDGE INVESTMENT YANENG LTD                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   3162993 | NS      | $2706244.16   | 0.75%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Oak Hill Credit                                       | Oak Hill Credit Partners X-R Ltd                                         | CUSIP: 67707CBC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999103.80    | 0.28%             | 2038-04-20      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Advanced Drainage Systems Inc                         | Advanced Drainage Systems Inc Term Loan B                                | CUSIP: 00769QAG8<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | LON              | CORP              | US        |     51756 | PA      | $51712.99     | 0.01%             | 2026-07-31      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| SL RIVIERA INVESTORS 2021 LP                          | SL RIVIERA INVESTORS 2021 LP                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2078007 | NS      | $2139969.52   | 0.59%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SS&C Technologies Inc                                 | SS&C Technologies Inc 2024 Term Loan B8                                  | CUSIP: 78466DBJ2<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |    126371 | PA      | $126937.32    | 0.04%             | 2031-05-09      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                   | Sirius XM Radio LLC                                                      | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    148000 | PA      | $146732.19    | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                                    | Seagate HDD Cayman                                                       | CUSIP: 81180WBN0<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    150000 | PA      | $159749.70    | 0.04%             | 2029-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ALEPH INFINITY INVESTORS 2 LP                         | ALEPH INFINITY INVESTORS 2 LP                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   4792321 | NS      | $3793069.26   | 1.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MidOcean Credit CLO                                   | Midocean Credit CLO XV Ltd                                               | CUSIP: 59801FAA1<br>LEI: 254900R5AXF91DYP1Y16 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1003453.80   | 0.28%             | 2037-07-21      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Company Inc                 | Hilton Domestic Operating Company Inc 2023 Term Loan B4                  | CUSIP: 43289DAK9<br>LEI: 5493003EG7H0N1E4XV50 | Long             | LON              | CORP              | US        |    201000 | PA      | $201596.97    | 0.06%             | 2030-11-08      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| ECOVADIS S.A.S.                                       | ECOVADIS S.A.S.                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | FR        |      6350 | NS      | $3286086.58   | 0.91%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EPIONE CO-INVEST LP                                   | EPIONE CO-INVEST LP                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GR        |   2667973 | NS      | $3057723.37   | 0.85%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Whitewater Whistler Holdings, LLC                     | Whitewater Whistler Holdings LLC 2024 Refinancing Term Loan              | CUSIP: 000000000<br>LEI: 549300FRGKJP12ZORL46 | Long             | LON              | CORP              | US        |     60329 | PA      | $60291.37     | 0.02%             | 2030-02-15      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                                     | Generate Clo 13 Ltd                                                      | CUSIP: 370918AA2<br>LEI: 549300OHYOREA2V0F579 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1004354.40   | 0.28%             | 2037-01-20      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Warwick Capital CLO Ltd                               | Warwick Capital CLO 1 Ltd                                                | CUSIP: 936919AC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1006849.30   | 0.28%             | 2036-10-20      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I LP                                   | Hilcorp Energy I LP Term Loan B                                          | CUSIP: 431319AH5<br>LEI: 549300ITPIHLG0LHEC09 | Long             | LON              | CORP              | US        |     22942 | PA      | $22942.50     | 0.01%             | 2030-02-11      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                       | Gen Digital Inc 2024 Term Loan B                                         | CUSIP: 66877AAF5<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |    163153 | PA      | $162847.79    | 0.05%             | 2029-09-12      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| BW PHOENIX CO INVEST, L.P.                            | BW PHOENIX CO INVEST, L.P.                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2877182 | NS      | $3494467.01   | 0.97%             |  |  |  | Yes           |                  3 | On Loan: No      |
| RUBICON CONTINUATION FUND L P                         | RUBICON CONTINUATION FUND L P                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   4068028 | NS      | $4892137.30   | 1.36%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CPI HOLDCO B LLC                                      | CPI Holdco B LLC 2024 Incremental Term Loan B                            | CUSIP: 1261MAAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     44000 | PA      | $43945.00     | 0.01%             | 2031-05-17      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| QXO INC                                               | QXO Inc Term Loan B                                                      | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |     20022 | PA      | $20141.55     | 0.01%             | 2032-04-30      | Floating      | 7.30%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 29 Ltd                                    | Elmwood CLO 29 Ltd                                                       | CUSIP: 289913AC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003534.80   | 0.28%             | 2037-04-20      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| ATTENTIVE MOBILE                                      | ATTENTIVE MOBILE                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      2073 | NS      | $73591.50     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 16057349 CANADA INC                                   | 16057349 CANADA INC                                                      | CUSIP: 000000000<br>LEI: 5493005JT54IX5MZ9P52 | Long             |  | PF                | US        |     95986 | NS      | $4146997.19   | 1.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CREO CAPITAL PARTNERS V A LP                          | CREO CAPITAL PARTNERS V A LP                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2690646 | NS      | $2944756.44   | 0.82%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ASURION LLC                                           | ASURION LLC 2025 TERM LOAN B13                                           | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     55389 | PA      | $53755.32     | 0.01%             | 2030-09-19      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| PALLADIUM EQUITY PARTNERS IV CF LP                    | PALLADIUM EQUITY PARTNERS IV CF LP                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   3843726 | NS      | $6268643.58   | 1.74%             |  |  |  | Yes           |                  3 | On Loan: No      |
| World Wide Technology Holding Co. LLC                 | World Wide Technology Holding Co LLC 2024 Term Loan B                    | CUSIP: 98164AAD5<br>LEI: 213800MTFQARCZL1PY64 | Long             | LON              | CORP              | US        |     15405 | PA      | $15462.85     | 0.00%             | 2030-03-01      | Floating      | 6.56%                 | No            |                  3 | On Loan: No      |
| DATABRICKS INC                                        | DATABRICKS INC                                                           | CUSIP: 000000000<br>LEI: 984500FEDAC7FBD96273 | Long             |  | PF                | US        |     84799 | NS      | $9173555.82   | 2.55%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TPG ARKADY CO INVEST, L.P.                            | TPG ARKADY CO INVEST, L.P.                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3332518 | NS      | $3286615.90   | 0.91%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Elmwood CLO 38 Ltd                                    | Elmwood CLO 38 Ltd                                                       | CUSIP: 289908AA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999075.50    | 0.28%             | 2038-04-22      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| INEOS QUATTRO HOLDINGS UK LTD                         | INEOS Quattro Holdings UK Ltd 2024 USD Term Loan B                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     34912 | PA      | $31770.38     | 0.01%             | 2031-10-07      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                 | Quikrete Holdings Inc 2024 Term Loan B1                                  | CUSIP: 74839XAK5<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |     82739 | PA      | $82675.20     | 0.02%             | 2029-03-19      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Calpine Construction Finance Company LP               | Calpine Construction Finance Company LP 2023 Refinancing Term Loan B     | CUSIP: 13134NAH4<br>LEI: V0Q3DOB0FIB2XI1KWU77 | Long             | LON              | CORP              | US        |    106590 | PA      | $106521.39    | 0.03%             | 2030-07-31      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| HB FULLER COMPANY                                     | HB Fuller Company 2025 Term Loan B                                       | CUSIP: 40409VAW4<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | LON              | CORP              | US        |     35458 | PA      | $35569.33     | 0.01%             | 2030-02-15      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| CAMPUS CO-INVESTMENT LP                               | CAMPUS CO-INVESTMENT LP                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2605632 | NS      | $4521726.92   | 1.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| American Airlines Inc                                 | American Airlines Inc 2023 1st Lien Term Loan                            | CUSIP: 02376CBM6<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |     86130 | PA      | $85268.70     | 0.02%             | 2029-06-04      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP LLC                              | Ryan Specialty Group LLC 2024 USD Term Loan B                            | CUSIP: 78350UAJ4<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |     99500 | PA      | $99333.84     | 0.03%             | 2031-09-15      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| JANE STREET GROUP LLC                                 | Jane Street Group LLC 2024 Term Loan B1                                  | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |     89556 | PA      | $89440.57     | 0.02%             | 2031-12-15      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                        | TRSWAP: DV US EQUITY                                                     | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DE               |  | US        |   1255753 | OU      | $-256555.70   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | Level 3 Financing Inc                                                    | CUSIP: 527298BV4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      6845 | PA      | $7851.82      | 0.00%             | 2029-11-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| PROVIDENCE EQUITY PART VII A                          | PROVIDENCE EQUITY PART VII A                                             | CUSIP: 000000000<br>LEI: 549300WQVK43AGRMH093 | Long             |  | PF                | KY        |   3322504 | NS      | $2478321.93   | 0.69%             |  |  |  | No            |                  3 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                              | Prime Security Services Borrower LLC / Prime Finance Inc                 | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $120622.32    | 0.03%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROMULUS INTERMEDIATE HOLDINGS 1 INC                   | ROMULUS INTERMEDIATE HOLDINGS 1 INC                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     12000 | NS      | $15033191.00  | 4.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Light and Wonder International, Inc.                  | Light and Wonder International Inc 2024 Term Loan B2                     | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    106190 | PA      | $106136.60    | 0.03%             | 2029-04-14      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Go Daddy Operating Company LLC                        | Go Daddy Operating Company LLC 2024 Term Loan B8                         | CUSIP: 38017BAX4<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |    139343 | PA      | $139395.87    | 0.04%             | 2029-11-09      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                    | Regal Rexnord Corp                                                       | CUSIP: 758750AM5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    135000 | PA      | $139115.23    | 0.04%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                                     | Generate CLO 7 Ltd                                                       | CUSIP: 37149LAL1<br>LEI: 25490036G9JNQQPHIX69 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003825.10   | 0.28%             | 2037-04-22      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| EMRLD BORROWER LP                                     | EMRLD Borrower LP 2024 Term Loan B                                       | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |     53595 | PA      | $53471.20     | 0.01%             | 2031-08-04      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| INEOS US Finance LLC                                  | Ineos US Finance LLC 2023 USD Term Loan B                                | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |     57133 | PA      | $54664.54     | 0.02%             | 2030-02-18      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| PATTERN ENERGY OP LP/PAT                              | Pattern Energy Operations LP / Pattern Energy Operations Inc             | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    163000 | PA      | $157924.39    | 0.04%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GROQ INC                                              | GROQ INC                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |    229091 | NS      | $5583435.63   | 1.55%             |  |  |  | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** BlackRock Private Investments Fund

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer