# EDGAR Filing Document

**Accession Number:** 0001987990
**File Stem:** 0001193125-26-250548
**Filing Date:** 2026-6
**Character Count:** 180463
**Document Hash:** 36ac77900a4e93c919d0329d287c8ab3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-250548.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0001193125-26-250548

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KKR US Direct Lending Fund-U Inc.
- **CENTRAL INDEX KEY:** 0001987990

**ORGANIZATION NAME:**
- **EIN:** 926676904
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23908
- **FILM NUMBER:** 261048676

**BUSINESS ADDRESS:**
- **STREET 1:** 555 CALIFORNIA STREET, 50TH FLOOR
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104
- **BUSINESS PHONE:** 415.315.3620

**MAIL ADDRESS:**
- **STREET 1:** 555 CALIFORNIA STREET, 50TH FLOOR
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KKR US Direct Lending Fund-U
- **DATE OF NAME CHANGE:** 20230731

## Nport-Ex

---

| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

---

**Consolidated Schedule of Investments** 

**(Stated in United States Dollars, unless otherwise noted)** 

**(In thousands, except share data)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issuer** | **Asset** | **Reference Rate & Spread** | **Maturity Date** | **Par/Shares** | **Fair Value** |
|  **Senior Secured Loans- First Lien — 102.4%** | **Senior Secured Loans- First Lien — 102.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense — 3.2% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horizon CTS Buyer LLC | Revolver 1L 03/25 | SOFR + 4.75% | 3/29/2032 | $6925 | $1201 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horizon CTS Buyer LLC | TL 1L 03/25 | SOFR + 4.75% | 3/29/2032 | 11656 | 11626 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horizon CTS Buyer LLC | TL 1L 11/25 | SOFR + 4.75% | 3/29/2032 | 19944 | 19892 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horizon CTS Buyer LLC | TL 1L DD 03/25 | SOFR + 4.75% | 3/29/2032 | 2205 | 2199 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Horizon CTS Buyer LLC | TL 1L DD 11/25 | SOFR + 4.75% | 3/29/2032 | 8310 | (22) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Star Aviation Inc | Revolver 1L 05/25 | SOFR + 4.50% | 5/20/2032 | 1995 | 199 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Star Aviation Inc | TL 1L 05/25 | SOFR + 4.50% | 5/20/2032 | 14192 | 14277 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Star Aviation Inc | TL 1L DD 05/25 | SOFR + 4.50% | 5/20/2032 | 2983 | 2303 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Freight & Logistics — 2.7% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSafe Global | Revolver 1L 03/24 | SOFR + 5.75% | 3/8/2029 | 3598 | 1187 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSafe Global | TL 1L 03/24 (GBP) | SONIA + 5.75% | 12/14/2028 | 4762 | 6303 (b) (g) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSafe Global | TL 1L 03/24 (Incremental) | SOFR + 5.75% | 12/14/2028 | 34131 | 34131 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSafe Global | TL 1L 11/24 (Incremental) | SOFR + 5.75% | 12/14/2028 | 801 | 801 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CSafe Global | TL 1L DD 03/24 | SOFR + 5.75% | 12/14/2028 | 1444 | 1444 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Application Software — 8.6% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexera Software LLC | Revolver 1L 08/25 | SOFR + 4.50% | 8/16/2032 | 1685 | (50) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexera Software LLC | TL 1L 08/25 | SOFR + 4.50% | 8/16/2032 | 20777 | 20052 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexera Software LLC | TL 1L 08/25 (EUR) | EURIBOR + 4.50% | 8/16/2032 | 6270 | 6995 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexera Software LLC | TL 1L 12/25 | SOFR + 4.50% | 8/16/2032 | 8110 | 7827 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Follett Software Co | TL 1L 04/25 | SOFR + 4.50% | 8/29/2031 | 9490 | 9490 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Follett Software Co | Revolver 1L 04/25 | SOFR + 4.50% | 8/30/2030 | 891 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granicus Inc | TL 1L 01/24 (Unitranche) PIK | SOFR + 3.75% (2.00% PIK) | 1/17/2031 | 16597 | 16597 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granicus Inc | TL 1L DD 01/24 PIK | SOFR + 3.00% (2.00% PIK) | 1/17/2031 | 6906 | 6906 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granicus Inc | Revolver 1L 01/24 | SOFR + 5.25% | 1/17/2031 | 2282 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granicus Inc | TL 1L DD 08/24 PIK | SOFR + 3.00% (2.25% PIK) | 1/17/2031 | 670 | - (b) (c) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Personify Health Inc | TL 1L 11/23 PIK | SOFR + 5.75% | 11/8/2029 | 8917 | 8103 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PROS Holdings Inc | TL 1L 12/25 | SOFR + 4.75% | 12/9/2032 | 3908 | 3861 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PROS Holdings Inc | Revolver 1L 12/25 | SOFR + 4.75% | 12/9/2032 | 453 | (2) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAMBA Safety Inc | TL 1L DD 12/25 | SOFR + 4.75% | 12/19/2032 | 384 | (8) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAMBA Safety Inc | Revolver 1L 12/25 | SOFR + 4.75% | 12/20/2032 | 286 | 13 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAMBA Safety Inc | TL 1L 12/25 | SOFR + 4.75% | 12/20/2032 | 3163 | 3100 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sphera Solutions Inc | TL 1L 09/25 | SOFR + 4.50% | 9/24/2032 | 13001 | 12371 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sphera Solutions Inc | Revolver 1L 09/25 | SOFR + 4.50% | 9/24/2032 | 1773 | 305 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sphera Solutions Inc | TL 1L DD 09/25 | SOFR + 4.50% | 9/24/2032 | 2660 | (129) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spins LLC | TL 1L DD 02/25 (Restated) | SOFR + 4.75% | 1/22/2029 | 1181 | 1181 (b) |

---

------

---

| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issuer** | **Asset** | **Reference Rate & Spread** | **Maturity Date** | **Par/Shares** | **Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spins LLC | TL 1L 02/25 (Restated) | SOFR + 4.75% | 1/22/2029 | $15074 | $15074 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spins LLC | TL 1L DD 02/25 (Amendment #1) | SOFR + 4.75% | 1/22/2029 | 1444 | 1444 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spins LLC | Revolver 1L 02/25 | SOFR + 4.75% | 1/22/2029 | 1724 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spins LLC | TL 1L 01/26 | SOFR + 4.75% | 1/22/2029 | 5938 | 5899 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermont Information Processing Inc | TL 1L 01/25 | SOFR + 4.75% | 1/30/2032 | 5962 | 5805 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermont Information Processing Inc | TL 1L DD 01/25 | SOFR + 4.75% | 1/30/2032 | 2503 | (66) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vermont Information Processing Inc | Revolver 1L 12/24 | SOFR + 4.75% | 1/30/2032 | 751 | (16) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitu | TL 1L 01/25 | SOFR + 4.50% | 1/6/2032 | 14456 | 14601 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vitu | Revolver 1L 01/25 | SOFR + 4.50% | 1/6/2031 | 2367 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset Management & Custody Banks — 3.5% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockefeller Capital Management LP | TL 1L 12/25 | SOFR + 4.50% | 12/2/2032 | 57766 | 57512 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockefeller Capital Management LP | TL 1L DD 12/25 | SOFR + 4.50% | 12/2/2032 | 5636 | (25) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Cargo Ground Transportation — 1.0% | &nbsp;&nbsp;&nbsp;&nbsp; Cargo Ground Transportation — 1.0% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lazer Logistics Inc | TL 1L B 05/23 (Unitranche) | SOFR + 4.80% | 5/6/2030 | 11193 | 11305 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lazer Logistics Inc | TL 1L DD 05/23 | SOFR + 4.80% | 5/6/2030 | 1696 | 1713 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lazer Logistics Inc | Revolver 1L 05/23 | SOFR + 4.80% | 5/4/2029 | 1388 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lazer Logistics Inc | TL 1L DD 11/23 | SOFR + 4.80% | 5/4/2030 | 1030 | 1040 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lazer Logistics Inc | TL 1L 11/23 | SOFR + 4.80% | 5/6/2030 | 512 | 517 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lazer Logistics Inc | TL 1L DD 12/25 (New) | SOFR + 4.80% | 5/4/2030 | 2601 | 1868 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial & Residential Mortgage Finance — 0.9% | &nbsp;&nbsp;&nbsp;&nbsp; Commercial & Residential Mortgage Finance — 0.9% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rialto Capital Management LLC | TL 1L 12/24 | SOFR + 4.75% | 12/5/2030 | 11355 | 11468 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rialto Capital Management LLC | Revolver 1L 12/24 | SOFR + 4.75% | 12/5/2030 | 749 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rialto Capital Management LLC | TL 1L 12/25 | SOFR + 4.75% | 12/5/2030 | 3254 | 3287 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering — 9.1% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontline Road Safety LLC | TL 1L 03/25 PIK | SOFR + 2.50% (2.25% PIK) | 3/4/2032 | 40296 | 40207 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontline Road Safety LLC | TL 1L DD 03/25 PIK | SOFR + 2.75% (2.00% PIK) | 3/4/2032 | 11824 | 11798 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontline Road Safety LLC | Revolver 1L 03/25 | SOFR + 4.75% | 3/4/2032 | 6729 | (15) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontline Road Safety LLC | TL 1L DD 10/25 | SOFR + 4.75% | 3/4/2032 | 6248 | 3191 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontline Road Safety LLC | TL 1L DD 05/25 (Add-on) PIK | SOFR + 2.50% (2.25% PIK) | 3/4/2032 | 5814 | 5801 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Frontline Road Safety LLC | TL 1L 12/25 PIK | SOFR + 2.50% (2.25% PIK) | 3/4/2032 | 3658 | 3650 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orion Services Group | TL 1L 11/25 | SOFR + 4.50% | 11/26/2032 | 7874 | 7799 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orion Services Group | TL 1L DD 11/25 | SOFR + 4.50% | 11/26/2032 | 2590 | 493 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pike Corp | TL 1L 12/25 | SOFR + 4.50% | 12/20/2032 | 19655 | 19311 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pike Corp | TL 1L DD 12/25 | SOFR + 4.50% | 12/20/2032 | 4273 | (75) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pike Corp | Revolver 1L 12/25 | SOFR + 4.50% | 12/20/2032 | 2849 | (50) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turnpoint Services Inc | Revolver 1L 06/24 | SOFR + 5.00% | 6/17/2030 | 1236 | 466 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turnpoint Services Inc | TL 1L 06/24 PIK | SOFR + 2.75% (2.75% PIK) | 6/17/2031 | 10088 | 9856 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turnpoint Services Inc | TL 1L DD 06/24 | SOFR + 5.00% | 6/17/2031 | 1978 | (45) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Woolpert Inc | TL 1L 09/25 | SOFR + 4.50% | 4/5/2032 | 39690 | 39837 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Woolpert Inc | Revolver 1L 09/25 | SOFR + 4.50% | 4/5/2031 | 5092 | 1477 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Woolpert Inc | TL 1L DD 09/25 | SOFR + 4.50% | 4/5/2032 | 10185 | 3399 (b) (c) |

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------

---

| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issuer** | **Asset** | **Reference Rate & Spread** | **Maturity Date** | **Par/Shares** | **Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction Machinery & Heavy Transportation Equipment — 0.3% | &nbsp;&nbsp;&nbsp;&nbsp; Construction Machinery & Heavy Transportation Equipment — 0.3% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shaw Development LLC | TL 1L 10/23 | SOFR + 6.00% | 10/30/2029 | $5636 | $5574 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Finance — 2.1% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Homrich & Berg Inc | TL 1L 11/24 | SOFR + 4.75% | 11/17/2031 | 6236 | 6265 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Homrich & Berg Inc | TL 1L DD 11/24 | SOFR + 4.75% | 11/17/2031 | 7483 | 7518 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Homrich & Berg Inc | Revolver 1L 11/24 | SOFR + 4.75% | 8/18/2031 | 1512 | 991 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Homrich & Berg Inc | TL 1L DD 01/26 | SOFR + 4.50% | 11/17/2031 | 5807 | 807 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MAI Capital Management LLC | Revolver 1L 08/24 | SOFR + 4.75% | 8/29/2031 | 1967 | 728 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MAI Capital Management LLC | TL 1L 08/24 | SOFR + 4.75% | 8/29/2031 | 5675 | 5732 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MAI Capital Management LLC | TL 1L DD 08/24 | SOFR + 4.75% | 8/29/2031 | 3335 | 3369 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MAI Capital Management LLC | TL 1L DD 06/25 | SOFR + 4.75% | 8/29/2031 | 8458 | 5763 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wealth Enhancement Group LLC | Revolver 1L 05/22 (Add-on) | SOFR + 4.25% | 10/2/2028 | 176 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wealth Enhancement Group LLC | TL 1L DD 02/24 | SOFR + 4.25% | 10/2/2028 | 594 | 594 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wealth Enhancement Group LLC | TL 1L DD 12/24 | SOFR + 4.25% | 10/2/2028 | 4234 | 2759 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wealth Enhancement Group LLC | TL 1L DD 08/25 (Add-on & Reprice) | SOFR + 4.50% | 10/2/2028 | 1529 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Financial Services — 0.9% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Safe-Guard Products International LLC | TL 1L 03/24 | SOFR + 4.75% | 4/3/2030 | 14044 | 14044 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Safe-Guard Products International LLC | Revolver 1L 03/24 | SOFR + 4.75% | 4/3/2030 | 2450 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Diversified Support Services — 8.6% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apex Service Partners LLC | DDTL 1L 09/24 (Replacement) | SOFR + 5.00% | 10/24/2030 | 1912 | 1931 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apex Service Partners LLC | TL 1L DD 09/24 (OpCo) | SOFR + 5.00% | 10/24/2030 | 13316 | 13450 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apex Service Partners LLC | TL 1L 09/24 | SOFR + 5.00% | 10/24/2030 | 7424 | 7499 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apex Service Partners LLC | Revolver 1L 09/24 | SOFR + 5.00% | 10/24/2029 | 641 | 294 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apex Service Partners LLC | TL 1L DD 11/25 | SOFR + 4.75% | 10/24/2030 | 7731 | 903 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magna Legal Services LLC | TL 1L 11/22 | SOFR + 4.50% | 11/21/2029 | 8608 | 8608 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magna Legal Services LLC | Revolver 1L 11/22 | SOFR + 4.50% | 11/22/2028 | 1034 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magna Legal Services LLC | TL 1L DD 11/22 | SOFR + 4.50% | 11/21/2029 | 2410 | 2410 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magna Legal Services LLC | TL 1L DD 12/23 | SOFR + 4.50% | 11/22/2029 | 3638 | 3638 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magna Legal Services LLC | TL 1L DD 02/26 | SOFR + 4.50% | 11/22/2029 | 4459 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Express Inc | TL 1L 12/25 (Incremental) | SOFR + 4.50% | 12/23/2032 | 34986 | 34763 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Express Inc | TL 1L DD 12/25 (Incremental) | SOFR + 4.50% | 12/23/2032 | 7302 | (47) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Express Inc | TL 1L A 12/25 (Refinancing) | SOFR + 4.50% | 12/23/2032 | 25545 | 25381 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Express Inc | TL 1L B 12/25 (Refinancing) | SOFR + 4.50% | 12/23/2032 | 67 | 67 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Express Inc | Revolver 1L 12/25 (Incremental) | SOFR + 4.50% | 12/23/2032 | 8542 | (55) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Logic LLC | TL 1L 12/25 PIK | SOFR + 2.50% (2.25% PIK) | 12/16/2032 | 18621 | 18446 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Logic LLC | TL 1L DD 12/25 | SOFR + 4.50% | 12/16/2032 | 5108 | (48) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service Logic LLC | Revolver 1L 12/25 | SOFR + 4.50% | 12/16/2032 | 2554 | 725 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USIC Holdings Inc | TL 1L 09/24 | SOFR + 5.50% | 9/10/2031 | 18068 | 18429 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USIC Holdings Inc | TL 1L DD 09/24 | SOFR + 5.50% | 9/10/2031 | 1073 | 760 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USIC Holdings Inc | Revolver 1L 09/24 | SOFR + 5.25% | 9/10/2031 | 3104 | 2696 (b) (c) |

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| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issuer** | **Asset** | **Reference Rate & Spread** | **Maturity Date** | **Par/Shares** | **Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Education Services — 1.2% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cadence Education LLC | TL 1L 05/24 (Unitranche) | SOFR + 5.00% | 5/1/2031 | $11334 | $11191 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cadence Education LLC | TL 1L DD 05/24 | SOFR + 5.00% | 5/1/2031 | 2979 | 2942 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cadence Education LLC | Revolver 1L 05/24 | SOFR + 5.00% | 5/1/2030 | 1767 | (22) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Learning Experience Corp/The | Revolver 1L 07/25 | SOFR + 4.75% | 7/1/2032 | 1122 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Learning Experience Corp/The | TL 1L 07/25 | SOFR + 4.75% | 7/1/2032 | 5099 | 5128 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Electrical Component & Equipment — 3.5% | &nbsp;&nbsp;&nbsp;&nbsp; Electrical Component & Equipment — 3.5% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarience Technologies LLC | TL 1L 06/25 (2025 Incremental) | SOFR + 4.75% | 2/13/2032 | 1103 | 1092 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarience Technologies LLC | TL 1L DD-B 06/25 | SOFR + 4.75% | 2/13/2032 | 10666 | 4110 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarience Technologies LLC | TL 1L DD-C 06/25 | SOFR + 4.75% | 2/13/2032 | 5305 | (53) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarience Technologies LLC | TL 1L 06/25 (2025 Replacement) | SOFR + 4.75% | 2/13/2032 | 51446 | 50931 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarience Technologies LLC | Revolver 1L 06/25 (2025 Replacement) | SOFR + 4.75% | 2/13/2031 | 5305 | (53) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Clarience Technologies LLC | TL 1L DD-A 06/25 | SOFR + 4.75% | 2/13/2032 | 1108 | 1097 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Environmental & Facilities Services — 6.1% | &nbsp;&nbsp;&nbsp;&nbsp; Environmental & Facilities Services — 6.1% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcwood Environmental (fka Heritage Environmental<br>Services Inc) | TL 1L 01/24 | SOFR + 5.25% | 1/31/2031 | 16378 | 16378 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcwood Environmental (fka Heritage Environmental<br>Services Inc) | Revolver 1L 01/24 | SOFR + 5.25% | 1/31/2030 | 2454 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcwood Environmental (fka Heritage Environmental<br>Services Inc) | TL 1L 09/24 | SOFR + 5.00% | 1/31/2031 | 1815 | 1815 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcwood Environmental (fka Heritage Environmental<br>Services Inc) | TL 1L DD 09/24 | SOFR + 5.00% | 1/31/2031 | 971 | 971 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcwood Environmental (fka Heritage Environmental<br> Services Inc) | TL 1L 09/25 | SOFR + 5.00% | 1/31/2031 | 1397 | 1397 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arcwood Environmental (fka Heritage Environmental<br> Services Inc) | TL 1L DD 09/25 | SOFR + 5.00% | 1/31/2031 | 1254 | 1254 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CLEAResult Consulting Inc | TL 1L 08/24 | SOFR + 4.75% | 8/27/2031 | 14020 | 14160 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CLEAResult Consulting Inc | TL 1L DD 08/24 | SOFR + 4.75% | 8/27/2031 | 3549 | 35 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CLEAResult Consulting Inc | Revolver 1L 08/24 | SOFR + 4.75% | 8/27/2031 | 2366 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denali Water Solutions LLC | TL 1L DD 03/26 (Add-on) | SOFR + 4.75% | 11/19/2032 | 1362 | (7) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denali Water Solutions LLC | TL 1L 03/26 (Add-on) | SOFR + 4.75% | 11/19/2032 | 1362 | 1355 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denali Water Solutions LLC | TL 1L 11/25 | SOFR + 4.75% | 11/19/2032 | 28709 | 28565 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denali Water Solutions LLC | Revolver 1L 11/25 | SOFR + 4.75% | 11/19/2032 | 5220 | 2410 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resa Power LLC | TL 1L 04/25 | SOFR + 4.50% | 4/28/2032 | 22314 | 22537 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resa Power LLC | TL 1L DD 04/25 | SOFR + 4.50% | 4/28/2032 | 3155 | 32 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resa Power LLC | Revolver 1L 04/25 | SOFR + 4.50% | 4/28/2032 | 2458 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Resa Power LLC | Revolver 1L 04/25 (CAD Multi Currency) | SOFR + 4.50% | 4/28/2032 | 307 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xylem Kendall | TL 1L 06/25 | SOFR + 5.75% | 4/22/2030 | 5577 | 5534 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xylem Kendall | TL 1L DD 06/25 (7th Amendment) | SOFR + 5.75% | 4/22/2030 | 8416 | 1553 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xylem Kendall | TL 1L DD-A 06/25 (6th Amendment) | SOFR + 5.75% | 4/22/2030 | 340 | 338 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xylem Kendall | Revolver 1L 06/25 | SOFR + 5.87% | 4/22/2030 | 1157 | 836 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Food Distributors — 1.0%. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lipari Foods LLC | TL 1L 10/22 | SOFR + 6.50% | 10/31/2028 | 14594 | 14590 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lipari Foods LLC | TL 1L DD 10/22 | SOFR + 6.50% | 10/31/2028 | 1876 | 1876 (b) |

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| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issuer** | **Asset** | **Reference Rate & Spread** | **Maturity Date** | **Par/Shares** | **Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment — 1.7% | &nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment — 1.7% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zeus Industrial Products Inc | TL 1L 02/24 | SOFR + 5.40% | 2/28/2031 | $25910 | $24459 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zeus Industrial Products Inc | TL 1L DD 02/24 | SOFR + 5.40% | 2/28/2031 | 2395 | 2261 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zeus Industrial Products Inc | Revolver 1L 02/24 | SOFR + 5.40% | 2/28/2030 | 3624 | 280 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Facilities — 0.6% | &nbsp;&nbsp;&nbsp;&nbsp; Health Care Facilities — 0.6% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VetCor Professional Practices LLC | TL 1L B 08/22 | SOFR + 5.75% | 8/31/2029 | 4421 | 4303 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VetCor Professional Practices LLC | TL 1L DD 09/23 | SOFR + 6.00% | 8/31/2029 | 5003 | 4906 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Services — 5.4% | &nbsp;&nbsp;&nbsp;&nbsp; Health Care Services — 5.4% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affordable Care Inc | TL 1L 08/21 PIK | SOFR + 2.75% (3.25% PIK) | 8/2/2028 | 3376 | 2438 (b) (d) (h) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affordable Care Inc | TL 1L DD 08/21 PIK | SOFR + 2.75% (3.25% PIK) | 8/2/2028 | 604 | 436 (b) (d) (h) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affordable Care Inc | TL 1L DD 08/23 PIK | SOFR + 2.75% (3.25% PIK) | 8/2/2028 | 655 | 473 (b) (d) (h) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AVE Holdings I Corp | TL 1L 02/22 | SOFR + 5.50% | 2/25/2028 | 3793 | 3610 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dental Care Alliance Inc | TL 1L 03/21 | SOFR + 8.40% | 4/3/2028 | 3760 | 3221 (b) (h) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dental Care Alliance Inc | TL 1L DD 02/22 (Add-on) | SOFR + 8.40% | 4/3/2028 | 205 | 176 (b) (h) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dental Care Alliance Inc | TL 1L 02/22 (Add-on) | SOFR + 6.40% | 4/3/2028 | 411 | 352 (b) (h) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MB2 Dental Solutions LLC | TL 1L 02/24 (Unitranche) | SOFR + 5.50% | 2/13/2031 | 29897 | 30154 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MB2 Dental Solutions LLC | TL 1L DD 1 02/24 | SOFR + 5.50% | 2/13/2031 | 6172 | 6225 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MB2 Dental Solutions LLC | TL 1L DD 2 02/24 | SOFR + 5.50% | 2/13/2031 | 4329 | 4367 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MB2 Dental Solutions LLC | Revolver 1L 02/24 | SOFR + 5.50% | 2/13/2031 | 2113 | 85 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MB2 Dental Solutions LLC | TL 1L DD-3 03/26 | SOFR + 5.50% | 3/13/2031 | 7206 | 62 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premise Health Holding Corp | Revolver 1L 11/25 | SOFR + 4.75% | 11/6/2031 | 347 | (3) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premise Health Holding Corp | TL 1L 11/25 | SOFR + 4.75% | 11/8/2032 | 3507 | 3479 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premise Health Holding Corp | TL 1L DD 11/25 | SOFR + 4.75% | 11/8/2032 | 1483 | 877 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premise Health Holding Corp | TL 1L 03/26 | SOFR + 4.75% | 11/8/2032 | 620 | 615 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PSKW LLC (dba ConnectiveRx) | TL 1L 12/24 | SOFR + 5.50% | 3/9/2028 | 31692 | 31692 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Supplies — 3.1% | &nbsp;&nbsp;&nbsp;&nbsp; Health Care Supplies — 3.1% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PCI Pharma Services | TL 1L 07/25 | SOFR + 5.00% | 10/15/2032 | 45760 | 45302 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PCI Pharma Services | TL 1L DD 07/25 (Initial Dollar) | SOFR + 5.00% | 10/15/2032 | 7295 | (73) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PCI Pharma Services | TL 1L DD 07/25 (Alternative Currency) | SOFR + 5.00% | 10/15/2032 | 4188 | 4113 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PCI Pharma Services | Revolver 1L 07/25 | SOFR + 5.00% | 10/15/2032 | 5409 | (54) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PCI Pharma Services | TL 1L DD 07/25 (Special Interest) | SOFR + 5.00% | 10/15/2032 | 1050 | 545 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PCI Pharma Services | TL 1L DD-1 10/25 | SOFR + 5.00% | 10/15/2032 | 2990 | (30) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PCI Pharma Services | TL 1L DD-2 10/25 | SOFR + 5.00% | 10/15/2032 | 2917 | (29) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Health Care Technology — 2.7% | &nbsp;&nbsp;&nbsp;&nbsp; Health Care Technology — 2.7% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netsmart Technologies Inc | TL 1L 08/24 PIK | SOFR + 2.74% (2.46% PIK) | 8/25/2031 | 37742 | 37217 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netsmart Technologies Inc | Revolver 1L 08/24 | SOFR + 4.75% | 8/25/2031 | 4935 | (69) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netsmart Technologies Inc | TL 1L DD 08/24 PIK | SOFR + 2.50% (2.45% PIK) | 8/25/2031 | 4838 | (67) (b) (c) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netsmart Technologies Inc | TL 1L 11/25 (Incremental) PIK | SOFR + 2.05% (2.70% PIK) | 8/25/2031 | 6234 | 6147 (b) (d) |

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| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issuer** | **Asset** | **Reference Rate & Spread** | **Maturity Date** | **Par/Shares** | **Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; Highways & Railtracks — 0.6% | &nbsp;&nbsp;&nbsp;&nbsp; Highways & Railtracks — 0.6% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eagle Railcar Services Roscoe Inc | TL 1L 06/25 | SOFR + 4.50% | 6/14/2032 | $9230 | $9211 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eagle Railcar Services Roscoe Inc | TL 1L DD 06/25 | SOFR + 4.50% | 6/14/2032 | 1933 | (4) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eagle Railcar Services Roscoe Inc | Revolver 1L 06/25 | SOFR + 4.50% | 6/14/2032 | 1739 | (3) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Hotels, Resorts & Cruise Lines — 0.3% | &nbsp;&nbsp;&nbsp;&nbsp; Hotels, Resorts & Cruise Lines — 0.3% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Highgate Hotels Inc | TL 1L 11/23 | SOFR + 5.50% | 11/5/2029 | 4150 | 4150 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Highgate Hotels Inc | Revolver 1L 11/23 | SOFR + 5.50% | 11/5/2029 | 531 | 180 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Highgate Hotels Inc | TL 1L DD 12/25 | SOFR + 5.50% | 11/5/2029 | 3408 | 34 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Human Resource & Employment Services — 0.4% | &nbsp;&nbsp;&nbsp;&nbsp; Human Resource & Employment Services — 0.4% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insight Global LLC | TL 1L 11/24 | SOFR + 5.00% | 9/22/2028 | 5791 | 5791 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insight Global LLC | Revolver 1L 11/24 | SOFR + 5.00% | 9/22/2028 | 3326 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance Brokers — 6.7% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DOXA Insurance Holdings LLC | TL 1L 12/23 | SOFR + 4.50% | 12/20/2030 | 4697 | 4681 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DOXA Insurance Holdings LLC | TL 1L DD 12/23 | SOFR + 4.50% | 12/20/2030 | 4467 | 4452 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DOXA Insurance Holdings LLC | Revolver 1L 12/23 | SOFR + 4.50% | 12/20/2029 | 1027 | 288 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DOXA Insurance Holdings LLC | TL 1L DD 05/24 | SOFR + 4.87% | 12/20/2030 | 4367 | 2698 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Risk Partners Corp | TL 1L 10/21 | SOFR + 4.75% | 10/29/2030 | 4082 | 4082 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Risk Partners Corp | TL 1L DD 10/21 | SOFR + 4.75% | 10/29/2030 | 292 | 292 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Risk Partners Corp | Revolver 1L 10/21 | SOFR + 4.75% | 10/29/2029 | 1195 | 224 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Risk Partners Corp | TL 1L DD 11/23 | SOFR + 4.75% | 10/29/2030 | 7030 | 7030 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Risk Partners Corp | TL 1L DD 05/24 | SOFR + 4.75% | 10/29/2030 | 3153 | 3153 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foundation Risk Partners Corp | TL 1L DD 02/25 | SOFR + 4.75% | 10/29/2030 | 5948 | 4161 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galway Partners Holdings LLC | Revolver 1L 09/21 | SOFR + 4.50% | 9/29/2028 | 1589 | 604 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galway Partners Holdings LLC | TL 1L DD 04/23 | SOFR + 4.50% | 9/29/2028 | 8204 | 8204 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galway Partners Holdings LLC | TL 1L B 07/24 (Reprice) | SOFR + 4.50% | 9/29/2028 | 22377 | 22377 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galway Partners Holdings LLC | TL 1L DD 07/24 | SOFR + 4.50% | 9/29/2028 | 444 | 444 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galway Partners Holdings LLC | TL 1L DD 02/26 | SOFR + 4.50% | 9/29/2028 | 6380 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higginbotham Insurance Agency Inc | TL 1L 12/25 | SOFR + 4.50% | 6/11/2031 | 23245 | 23129 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higginbotham Insurance Agency Inc | TL 1L DD-A 12/25 | SOFR + 4.50% | 6/11/2031 | 1191 | (6) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Higginbotham Insurance Agency Inc | TL 1L DD-B 12/25 | SOFR + 4.50% | 6/11/2031 | 2784 | (14) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Marketing Group LLC | TL 1L DD 08/24 | SOFR + 5.00% | 8/25/2028 | 2248 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Marketing Group LLC | TL 1L 08/24 | SOFR + 5.00% | 8/25/2028 | 22315 | 22315 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Integrity Marketing Group LLC | Revolver 1L 08/24 | SOFR + 5.00% | 8/25/2028 | 543 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services – 1.5% | &nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services – 1.5% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BGB Group LLC | TL 1L 12/25 | SOFR + 5.25% | 2/16/2030 | 24695 | 24695 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BGB Group LLC | TL 1L DD 12/25 | SOFR + 5.25% | 2/16/2030 | 2052 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BGB Group LLC | Revolver 1L 12/25 | SOFR + 5.25% | 2/16/2030 | 3078 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Internet Services & Infrastructure – 0.3% | &nbsp;&nbsp;&nbsp;&nbsp; Internet Services & Infrastructure – 0.3% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Com Laude Group Ltd | TL 1L 12/25 | SOFR + 5.00% | 12/30/2032 | 4538 | 4433 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Com Laude Group Ltd | TL 1L DD 12/25 | SOFR + 5.00% | 12/30/2032 | 892 | (21) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Com Laude Group Ltd | Revolver 1L 12/25 | SOFR + 5.00% | 12/30/2032 | 357 | (6) (b) (c) |

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| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issuer** | **Asset** | **Reference Rate & Spread** | **Maturity Date** | **Par/Shares** | **Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Consulting & Other Services — 0.1% | &nbsp;&nbsp;&nbsp;&nbsp; IT Consulting & Other Services — 0.1% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Era Technology LLC | TL 1L 08/25 PIK | SOFR + 6.25% PIK | 6/30/2030 | $1859 | $1859 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp; Leisure Facilities — 1.4% | &nbsp;&nbsp;&nbsp;&nbsp; Leisure Facilities — 1.4% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ClubCorp Club Operations Inc | TL 1L B 07/25 | SOFR + 4.75% | 7/9/2032 | 22351 | 22246 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ClubCorp Club Operations Inc | Revolver 1L 07/25 | SOFR + 5.00% | 7/10/2031 | 2442 | (11) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ClubCorp Club Operations Inc | TL 1L B-DD 07/25 | SOFR + 5.00% | 7/9/2032 | 1465 | (7) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Property & Casualty Insurance — 2.2% | &nbsp;&nbsp;&nbsp;&nbsp; Property & Casualty Insurance — 2.2% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alacrity Solutions Group LLC | TL 1L DD 02/25 (Exit) | SOFR + 5.25% | 2/28/2030 | 1157 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alacrity Solutions Group LLC | Revolver 1L 02/25 | SOFR + 5.25% | 2/28/2030 | 869 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alacrity Solutions Group LLC | TL 1L 02/25 (Takeback) PIK | SOFR + 1.00% (5.25% PIK) | 2/28/2030 | 731 | 731 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; J S Held LLC | Revolver 1L 10/24 | SOFR + 4.75% | 6/1/2028 | 1804 | 902 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; J S Held LLC | TL 1L DD 10/24 | SOFR + 4.75% | 6/1/2028 | 5201 | 2882 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; J S Held LLC | TL 1L B 10/24 | SOFR + 4.75% | 6/1/2028 | 30927 | 30927 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialized Consumer Services — 4.7% | &nbsp;&nbsp;&nbsp;&nbsp; Specialized Consumer Services — 4.7% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BDO USA PA | TL 1L 08/23 | SOFR + 5.00% | 8/31/2028 | 5543 | 5521 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BDO USA PA | TL 1L 11/25 | SOFR + 4.50% | 8/31/2028 | 1068 | 1064 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Circana Group (f.k.a. NPD Group) | Revolver 1L 04/25 | SOFR + 4.25% | 12/1/2028 | 691 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Circana Group (f.k.a. NPD Group) | TL 1L 04/25 | SOFR + 4.25% | 12/1/2029 | 9444 | 9538 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legends Hospitality LLC | TL 1L 08/24 PIK | SOFR + 2.75% (2.75% PIK) | 8/22/2031 | 31373 | 31216 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legends Hospitality LLC | TL 1L DD 08/24 | SOFR + 5.00% | 8/22/2031 | 1784 | 1775 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Legends Hospitality LLC | Revolver 1L 08/24 | SOFR + 5.00% | 8/22/2030 | 3589 | 1866 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotless Brands LLC | TL 1L 02/23 | SOFR + 5.75% | 7/25/2028 | 5829 | 5859 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotless Brands LLC | TL 1L DD 02/23 | SOFR + 5.75% | 7/25/2028 | 8875 | 8922 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotless Brands LLC | TL 1L DD E 08/24 | SOFR + 5.50% | 7/25/2028 | 8127 | 8127 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotless Brands LLC | TL 1L DDTL 09/25 | SOFR + 5.00% | 7/25/2028 | 3479 | 619 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Specialty Chemicals — 1.6% | &nbsp;&nbsp;&nbsp;&nbsp; Specialty Chemicals — 1.6% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DuBois Chemicals Inc | Revolver 1L 06/24 | SOFR + 5.00% | 6/13/2031 | 3818 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DuBois Chemicals Inc | TL 1L 06/24 | SOFR + 5.00% | 6/13/2031 | 22831 | 22838 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DuBois Chemicals Inc | TL 1L DD 06/24 | SOFR + 5.00% | 6/13/2031 | 3818 | 2711 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Systems Software — 13.8% | &nbsp;&nbsp;&nbsp;&nbsp; Systems Software — 13.8% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonterra LLC | TL 1L 03/25 | SOFR + 4.75% | 3/5/2032 | 50051 | 49170 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonterra LLC | Revolver 1L 03/25 | SOFR + 4.75% | 3/5/2032 | 5452 | 1384 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonterra LLC | TL 1L DD 03/25 | SOFR + 4.75% | 3/5/2032 | 5452 | 5356 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonterra LLC | TL 1L DD 10/25 | SOFR + 4.75% | 3/5/2032 | 13554 | 6674 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conservice LLC | TL 1L 02/26 | SOFR + 4.50% | 2/25/2033 | 11502 | 11330 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Conservice LLC | Revolver 1L 02/26 | SOFR + 4.50% | 2/25/2033 | 1566 | (8) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GE Digital LLC | TL 1L 03/26 (Closing Date Acquisition) | SOFR + 4.75% | 3/2/2033 | 1373 | 1367 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GE Digital LLC | TL 1L 03/26 (Specified Acquisition) | SOFR + 4.75% | 3/2/2033 | 1668 | 1659 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GE Digital LLC | Revolver 1L 03/26 | SOFR + 4.75% | 3/2/2033 | 540 | - b) (c) |

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| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issuer** | **Asset** | **Reference Rate & Spread** | **Maturity Date** | **Par/Shares** | **Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gigamon Inc | TL 1L 03/22 | SOFR + 5.75% | 3/9/2029 | $4372 | $4139 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jeppesen Holdings LLC | TL 1L 10/25 | SOFR + 4.75% | 10/31/2032 | 45322 | 44339 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jeppesen Holdings LLC | Revolver 1L 10/25 | SOFR + 4.75% | 10/31/2032 | 2350 | (74) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Med-Metrix | TL 1L 07/25 | SOFR + 4.50% | 7/21/2032 | 28686 | 28456 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Med-Metrix | Revolver 1L 07/25 | SOFR + 4.50% | 7/21/2032 | 5077 | - (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Med-Metrix | TL 1L DD 07/25 | SOFR + 4.50% | 7/21/2032 | 11931 | (32) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OEConnection LLC | TL 1L 04/24 | SOFR + 4.50% | 12/23/2032 | 26841 | 26240 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OEConnection LLC | Revolver 1L 04/24 | SOFR + 4.50% | 12/23/2032 | 2843 | (35) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OEConnection LLC | TL 1L DD 12/24 | SOFR + 4.50% | 12/23/2032 | 4674 | (105) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veriforce LLC | TL 1L 11/24 USD | SOFR + 4.75% | 11/21/2031 | 30610 | 30200 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veriforce LLC | TL 1L 11/24 GBP | SONIA + 4.75% | 11/21/2031 | 10467 | 13669 (b) (g) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veriforce LLC | TL 1L DD-2 11/24 USD | SOFR + 4.75% | 11/21/2031 | 1619 | (22) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veriforce LLC | Revolver 1L 11/24 | SOFR + 4.75% | 11/21/2031 | 2923 | (9) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Veriforce LLC | TL 1L DD 09/25 | SOFR + 4.50% | 11/21/2031 | 4185 | (111) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors — 3.0% | &nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors — 3.0% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Radwell International LLC | Revolver 1L 04/22 | SOFR + 4.75% | 4/1/2030 | 1360 | 311 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Radwell International LLC | TL 1L 12/22 | SOFR + 4.75% | 4/1/2030 | 17550 | 17462 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Radwell International LLC | TL 1L DD 11/24 | SOFR + 4.75% | 4/1/2030 | 16096 | 16015 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NEFCO Corp | Revolver 1L 01/26 | SOFR + 4.50% | 1/13/2033 | 2080 | 411 (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NEFCO Corp | TL 1L 01/26 | SOFR + 4.50% | 1/13/2033 | 14559 | 14523 (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NEFCO Corp | TL 1L DD 01/26 | SOFR + 4.50% | 1/13/2033 | 3120 | (8) (b) (c) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Senior Secured Loans - First Lien (Cost $1,669,298)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Senior Secured Loans - First Lien (Cost $1,669,298)** |  |  |  | $1662595 |

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| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Debt — 0.0% | &nbsp;&nbsp;&nbsp;&nbsp; Subordinated Debt — 0.0% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Property & Casualty Insurance — 0.0% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alacrity Solutions Group LLC | TL Mezz 02/25 (PIK Notes) | SOFR + 8.00% | 2/28/2030 | $765 | $642 (b) (d) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Subordinated Debt (Cost $765)** |  |  |  |  | $642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity — 0.1% | &nbsp;&nbsp;&nbsp;&nbsp; Equity — 0.1% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; IT Consulting & Other Services – 0.1% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Era Technology Inc | Common Stock (Takeback) |  |  | 1675 | - (a) (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Era Technology Inc | Perp (Pref Equity) PIK |  |  | 1675 | 435 (a) (b) |
| &nbsp;&nbsp;&nbsp;&nbsp; Property & Casualty Insurance — 0.0% |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alacrity Solutions Group LLC | Common Stock |  |  | 423 | - (a) (b) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alacrity Solutions Group LLC | Perp (Pref Equity) PIK | SOFR + 8.00% PIK |  | 452 | 18 (a) (b) (d) (h) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Equity (Cost $2,419)** |  |  |  |  | $453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS (Cost $1,672,482) -— 102.4%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS (Cost $1,672,482) -— 102.4%** |  |  |  | $1663690 |
|  **MONEY MARKET FUNDS – 2.5%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon U.S. Treasury Fund |  | Money Market Fund Shares |  | 19703206 | 19703 (e) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market Fund | Opportunity Class |  | 21016696 | 21017 (f) |
|  **TOTAL MONEY MARKET FUNDS (Cost $40,720) – 2.5%** | **TOTAL MONEY MARKET FUNDS (Cost $40,720) – 2.5%** |  |  |  | $40720 |
|  **TOTAL INVESTMENTS INCLUDING MONEY MARKET FUNDS (Cost $1,713,202) – 104.9%** | **TOTAL INVESTMENTS INCLUDING MONEY MARKET FUNDS (Cost $1,713,202) – 104.9%** |  |  |  | $1704410 |
|  **LIABILITIES EXCEEDING OTHER ASSETS, NET– (4.9%)** | **LIABILITIES EXCEEDING OTHER ASSETS, NET– (4.9%)** |  |  |  | (80131) |
|  **NET ASSETS – 100.0%** |  |  |  |  | $1624279 |

---

---

| | |
|:---|:---|
| TL | Term loan |
| DD | Delayed draw term loan |
| 1L | First lien |
| SOFR | Secured Overnight Financing Rate as of March 31, 2026 was 3.7% |
| SONIA | Sterling Overnight Index Average as of March 31, 2026 was 3.7% |
| EURIBOR | Euro Interbank Offered Rate Average as of March 31, 2026 was 2.1% |
| (a) | Security considered restricted. |
| (b) | Value determined using significant unobservable inputs. |
| (c) | Investment is an unfunded or partially funded commitment. |
| (d) | Represents a payment-in-kind ("PIK") security which may pay interest in additional par. PIK rate disclosed is excluded from the spread. |
| (e) | The money market fund's average 7-day yield as of March 31, 2026 was 3.3%. |
| (f) | The money market fund's average 7-day yield as of March 31, 2026 was 3.6%. |
| (g) | Par value is in GBP. |
| (h) | Asset is on non-accrual status. |

---

------

---

| | | |
|:---|:---|:---|
| ![LOGO](g162226g0531083324193.jpg) | US Direct Lending Fund-U Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2026 (Unaudited)<br>|

---

The following are the details of the restricted securities of the Company:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Issuer<sup>(1)</sup>** | **Asset** | **Par/Shares** | **Cost** | **Fair Value** | **Acquisition**<br> **Date** | **% of Net<br>Assets** |
| **Equity** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alacrity Solutions Group LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stock | 423 | 1117 |  |  | 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alacrity Solutions Group LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perp (Pref Equity) PIK | 452 | 452 | 18 |  | 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Era Technology Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stock (Takeback) | 1675 |  |  |  | 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Era Technology Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perp (Pref Equity) PIK | 1675 | 851 | 435 |  | 0.03% |
|  Total |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453 |  |  |

---

<sup>(1)</sup> Refer to the Consolidated Schedule of Investments for more details on securities listed

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** KKR US Direct Lending Fund-U Inc.

- **b. Investment Company Act file number:** 811-23908

- **c. CIK number of Registrant:** 0001987990

- **d. LEI of Registrant:** 254900VH9VGIHM4GA761

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

  - **Street Address 1:** 555 California St, 50th Floor

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94104

  - **Telephone number:** 415-315-3620

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

- **a. Name of Series:** KKR US Direct Lending Fund-U Inc.

- **c. LEI of Series:** 254900VH9VGIHM4GA761

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1721378986.00

**Total Liabilities:** $97100176.00

**Net Assets:** $1624278810.00

**Cash Not Reported:** $1335897.11

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 361.231348393485 | **5-Year:** 361.231348393485 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.75%                | 0.37%                | -0.03%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $213863.62               | $317680.97                                 |
| Month 2  | $290299.68               | $-5397745.72                               |
| Month 3  | $-236966.77              | $-12301164.30                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BGB Group LLC                                                   | BGB Group LLC - TL 1L 12/25                                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  24695246 | PA      | $24695246.28  | 1.52%             | 2030-02-16      | Floating      | 8.95%                 | Yes           |                  3 | On Loan: No      |
| Bonterra LLC                                                    | Bonterra LLC - TL 1L DD 03/25                                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5451821 | PA      | $5355868.95   | 0.33%             | 2032-03-05      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Bonterra LLC                                                    | Bonterra LLC - TL 1L 03/25                                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  50051126 | PA      | $49170226.09  | 3.03%             | 2032-03-05      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Bonterra LLC                                                    | Bonterra LLC - TL 1L DD 10/25                                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  13554360 | PA      | $6674166.86   | 0.41%             | 2032-03-05      | Floating      | 3.81%                 | Yes           |                  3 | On Loan: No      |
| Frontline Road Safety LLC                                       | Frontline Road Safety LLC - TL 1L DD 10/25                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   6248062 | PA      | $3190759.46   | 0.20%             | 2032-03-04      | Floating      | 3.60%                 | Yes           |                  3 | On Loan: No      |
| Frontline Road Safety LLC                                       | Frontline Road Safety LLC - TL 1L DD 05/25 (Add-on) PIK                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5813737 | PA      | $5800946.70   | 0.36%             | 2032-03-04      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Frontline Road Safety LLC                                       | Frontline Road Safety LLC - TL 1L 12/25 PIK                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3657949 | PA      | $3649901.50   | 0.22%             | 2032-03-04      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Frontline Road Safety LLC                                       | Frontline Road Safety LLC - TL 1L DD 03/25 PIK                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  11823712 | PA      | $11797699.62  | 0.73%             | 2032-03-04      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Arcwood Environmental (fka Heritage Environmental Services Inc) | Arcwood Environmental (fka Heritage Environmental Services Inc) - TL 1L 01/24       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  16377645 | PA      | $16377645.25  | 1.01%             | 2031-01-31      | Floating      | 8.92%                 | Yes           |                  3 | On Loan: No      |
| Arcwood Environmental (fka Heritage Environmental Services Inc) | Arcwood Environmental (fka Heritage Environmental Services Inc) - Revolver 1L 01/24 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2454321 | PA      | $0.00         | 0.00%             | 2030-01-31      | Floating      | 0.38%                 | Yes           |                  3 | On Loan: No      |
| Higginbotham Insurance Agency Inc                               | Higginbotham Insurance Agency Inc - TL 1L DD-A 12/25                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1190988 | PA      | $-5954.94     | -0.00%            | 2031-06-11      | Floating      | 5.50%                 | Yes           |                  3 | On Loan: No      |
| PCI Pharma Services                                             | PCI Pharma Services - Revolver 1L 07/25                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5408725 | PA      | $-54087.25    | -0.00%            | 2032-10-15      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| PCI Pharma Services                                             | PCI Pharma Services - TL 1L DD-2 10/25                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2917079 | PA      | $-29170.79    | -0.00%            | 2032-10-15      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| PCI Pharma Services                                             | PCI Pharma Services - TL 1L DD 07/25 (Special Interest)                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1050131 | PA      | $544984.32    | 0.03%             | 2032-10-15      | Floating      | 3.00%                 | Yes           |                  3 | On Loan: No      |
| Pike Corp                                                       | Pike Corp - TL 1L 12/25 PIK                                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  19655218 | PA      | $19311251.68  | 1.19%             | 2032-12-20      | Floating      | 8.18%                 | Yes           |                  3 | On Loan: No      |
| Pike Corp                                                       | Pike Corp - TL 1L DD 12/25 PIK                                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4272873 | PA      | $-74775.28    | -0.00%            | 2032-12-20      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Pike Corp                                                       | Pike Corp - Revolver 1L 12/25                                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2848582 | PA      | $-49850.18    | -0.00%            | 2032-12-20      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| VetCor Professional Practices LLC                               | VetCor Professional Practices LLC - TL 1L B 08/22                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4421250 | PA      | $4303202.63   | 0.26%             | 2029-08-31      | Floating      | 9.42%                 | Yes           |                  3 | On Loan: No      |
| VetCor Professional Practices LLC                               | VetCor Professional Practices LLC - TL 1L DD 09/23                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5002951 | PA      | $4905893.77   | 0.30%             | 2029-08-31      | Floating      | 9.67%                 | Yes           |                  3 | On Loan: No      |
| Premise Health Holding Corp                                     | Premise Health Holding Corp - TL 1L DD 11/25                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1482848 | PA      | $876806.92    | 0.05%             | 2032-11-08      | Floating      | 5.47%                 | Yes           |                  3 | On Loan: No      |
| Premise Health Holding Corp                                     | Premise Health Holding Corp - TL 1L 11/25                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3506958 | PA      | $3478551.74   | 0.21%             | 2032-11-08      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Premise Health Holding Corp                                     | Premise Health Holding Corp - TL 1L 03/26                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    619574 | PA      | $614555.45    | 0.04%             | 2032-11-08      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Premise Health Holding Corp                                     | Premise Health Holding Corp - Revolver 1L 11/25                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    346518 | PA      | $-2806.80     | -0.00%            | 2031-11-06      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| PROS Holdings Inc                                               | PROS Holdings Inc - TL 1L 12/25                                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3908200 | PA      | $3861301.60   | 0.24%             | 2032-12-09      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| PROS Holdings Inc                                               | PROS Holdings Inc - Revolver 1L 12/25                                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    453125 | PA      | $-1812.50     | -0.00%            | 2032-12-09      | Floating      | 0.38%                 | Yes           |                  3 | On Loan: No      |
| PSKW LLC (dba ConnectiveRx)                                     | PSKW LLC (dba ConnectiveRx) - TL 1L 12/24                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  31692383 | PA      | $31692382.60  | 1.95%             | 2028-03-09      | Floating      | 9.27%                 | Yes           |                  3 | On Loan: No      |
| Radwell International LLC                                       | Radwell International LLC - TL 1L DD 11/24                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  16095540 | PA      | $16015062.26  | 0.99%             | 2030-04-01      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Rialto Capital Management LLC                                   | Rialto Capital Management LLC - TL 1L 12/25                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3253992 | PA      | $3286531.51   | 0.20%             | 2030-12-05      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| Service Logic LLC                                               | Service Logic LLC - Revolver 1L 12/25                                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2554055 | PA      | $725181.35    | 0.04%             | 2032-12-16      | Floating      | 2.99%                 | Yes           |                  3 | On Loan: No      |
| Service Logic LLC                                               | Service Logic LLC - TL 1L DD 12/25                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5108110 | PA      | $-48016.23    | -0.00%            | 2032-12-16      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Service Logic LLC                                               | Service Logic LLC - TL 1L 12/25 PIK                                                 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  18621058 | PA      | $18446019.62  | 1.14%             | 2032-12-16      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| SAMBA Safety Inc                                                | SAMBA Safety Inc - TL 1L 12/25                                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3162770 | PA      | $3099514.85   | 0.19%             | 2032-12-20      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| SAMBA Safety Inc                                                | SAMBA Safety Inc - TL 1L DD 12/25                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    384025 | PA      | $-7680.50     | -0.00%            | 2032-12-19      | Floating      | 5.75%                 | Yes           |                  3 | On Loan: No      |
| SAMBA Safety Inc                                                | SAMBA Safety Inc - Revolver 1L 12/25                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    285526 | PA      | $13460.51     | 0.00%             | 2032-12-20      | Floating      | 1.04%                 | Yes           |                  3 | On Loan: No      |
| Safe-Guard Products International LLC                           | Safe-Guard Products International LLC - TL 1L 03/24                                 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  14044176 | PA      | $14044176.27  | 0.86%             | 2030-04-03      | Floating      | 8.40%                 | Yes           |                  3 | On Loan: No      |
| Safe-Guard Products International LLC                           | Safe-Guard Products International LLC - Revolver 1L 03/24                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2450356 | PA      | $0.00         | 0.00%             | 2030-04-03      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Shaw Development LLC                                            | Shaw Development LLC - TL 1L 10/23                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5636244 | PA      | $5574244.96   | 0.34%             | 2029-10-30      | Floating      | 9.67%                 | Yes           |                  3 | On Loan: No      |
| Personify Health Inc                                            | Personify Health Inc - TL 1L 11/23 PIK                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8916660 | PA      | $8103460.92   | 0.50%             | 2029-11-08      | Floating      | 9.42%                 | Yes           |                  3 | On Loan: No      |
| Spotless Brands LLC                                             | Spotless Brands LLC - TL 1L DD 02/23                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8875352 | PA      | $8921503.38   | 0.55%             | 2028-07-25      | Floating      | 9.45%                 | Yes           |                  3 | On Loan: No      |
| Spotless Brands LLC                                             | Spotless Brands LLC - TL 1L DD E 08/24                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8126940 | PA      | $8126939.59   | 0.50%             | 2028-07-25      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| Spotless Brands LLC                                             | Spotless Brands LLC - TL 1L DDTL 09/25                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3479411 | PA      | $619320.85    | 0.04%             | 2028-07-25      | Floating      | 2.26%                 | Yes           |                  3 | On Loan: No      |
| Spotless Brands LLC                                             | Spotless Brands LLC - TL 1L 02/23                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5828744 | PA      | $5859053.67   | 0.36%             | 2028-07-25      | Floating      | 9.45%                 | Yes           |                  3 | On Loan: No      |
| Cadence Education LLC                                           | Cadence Education LLC - TL 1L DD 05/24                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2979428 | PA      | $2941887.38   | 0.18%             | 2031-05-01      | Floating      | 8.60%                 | Yes           |                  3 | On Loan: No      |
| Cadence Education LLC                                           | Cadence Education LLC - TL 1L 05/24 (Unitranche)                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  11333594 | PA      | $11190790.89  | 0.69%             | 2031-05-01      | Floating      | 8.65%                 | Yes           |                  3 | On Loan: No      |
| Cadence Education LLC                                           | Cadence Education LLC - Revolver 1L 05/24                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1767022 | PA      | $-22264.48    | -0.00%            | 2030-05-01      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Woolpert Inc                                                    | Woolpert Inc - Revolver 1L 09/25                                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5092342 | PA      | $1476779.18   | 0.09%             | 2031-04-05      | Floating      | 2.48%                 | Yes           |                  3 | On Loan: No      |
| Zeus Industrial Products Inc                                    | Zeus Industrial Products Inc - TL 1L DD 02/24                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2395233 | PA      | $2261100.18   | 0.14%             | 2031-02-28      | Floating      | 9.20%                 | Yes           |                  3 | On Loan: No      |
| Zeus Industrial Products Inc                                    | Zeus Industrial Products Inc - Revolver 1L 02/24                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3623651 | PA      | $280229.01    | 0.02%             | 2030-02-28      | Floating      | 1.66%                 | Yes           |                  3 | On Loan: No      |
| Zeus Industrial Products Inc                                    | Zeus Industrial Products Inc - TL 1L 02/24 PIK                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  25910263 | PA      | $24459288.00  | 1.51%             | 2031-02-28      | Floating      | 9.20%                 | Yes           |                  3 | On Loan: No      |
| CSafe Global                                                    | CSafe Global - TL 1L DD 03/24                                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1444041 | PA      | $1444041.17   | 0.09%             | 2028-12-14      | Floating      | 9.38%                 | Yes           |                  3 | On Loan: No      |
| Sphera Solutions Inc                                            | Sphera Solutions Inc - Revolver 1L 09/25                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1773330 | PA      | $304562.13    | 0.02%             | 2032-09-24      | Floating      | 1.97%                 | Yes           |                  3 | On Loan: No      |
| Sphera Solutions Inc                                            | Sphera Solutions Inc - TL 1L 09/25                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  13001393 | PA      | $12370825.50  | 0.76%             | 2032-09-24      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| Denali Water Solutions LLC                                      | Denali Water Solutions LLC - Revolver 1L 11/25                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5219790 | PA      | $2409803.05   | 0.15%             | 2032-11-19      | Floating      | 5.22%                 | Yes           |                  3 | On Loan: No      |
| Denali Water Solutions LLC                                      | Denali Water Solutions LLC - TL 1L DD 03/26 (Add-on)                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1362215 | PA      | $-6811.07     | -0.00%            | 2032-11-19      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Insight Global LLC                                              | Insight Global LLC - Revolver 1L 11/24 (Refinance)                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3326442 | PA      | $0.00         | 0.00%             | 2028-09-22      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Insight Global LLC                                              | Insight Global LLC - TL 1L 11/24 (Refinance)                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5791481 | PA      | $5791481.01   | 0.36%             | 2028-09-22      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Integrity Marketing Group LLC                                   | Integrity Marketing Group LLC - TL 1L DD 08/24                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2247847 | PA      | $0.00         | 0.00%             | 2028-08-25      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Integrity Marketing Group LLC                                   | Integrity Marketing Group LLC - Revolver 1L 08/24                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    543333 | PA      | $0.00         | 0.00%             | 2028-08-25      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Integrity Marketing Group LLC                                   | Integrity Marketing Group LLC - TL 1L 08/24                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  22314644 | PA      | $22314644.19  | 1.37%             | 2028-08-25      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Circana Group (f.k.a. NPD Group)                                | Circana Group (f.k.a. NPD Group) - Revolver 1L 04/25                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    691471 | PA      | $0.00         | 0.00%             | 2028-12-01      | Floating      | 4.75%                 | Yes           |                  3 | On Loan: No      |
| Circana Group (f.k.a. NPD Group)                                | Circana Group (f.k.a. NPD Group) - TL 1L 04/25                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   9443635 | PA      | $9538071.07   | 0.59%             | 2029-12-01      | Floating      | 7.95%                 | Yes           |                  3 | On Loan: No      |
| Jeppesen Holdings LLC                                           | Jeppesen Holdings LLC - Revolver 1L 10/25                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2350043 | PA      | $-74026.35    | -0.00%            | 2032-10-31      | Floating      | 0.38%                 | Yes           |                  3 | On Loan: No      |
| Jeppesen Holdings LLC                                           | Jeppesen Holdings LLC - TL 1L 10/25                                                 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  45322259 | PA      | $44338765.59  | 2.73%             | 2032-10-31      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| J S Held LLC                                                    | J S Held LLC - TL 1L DD 10/24                                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5200537 | PA      | $2881962.34   | 0.18%             | 2028-06-01      | Floating      | 3.88%                 | Yes           |                  3 | On Loan: No      |
| J S Held LLC                                                    | J S Held LLC - Revolver 1L 10/24                                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1804383 | PA      | $902191.50    | 0.06%             | 2028-06-01      | Floating      | 4.48%                 | Yes           |                  3 | On Loan: No      |
| J S Held LLC                                                    | J S Held LLC - TL 1L B 10/24                                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  30927322 | PA      | $30927321.57  | 1.90%             | 2028-06-01      | Floating      | 8.60%                 | Yes           |                  3 | On Loan: No      |
| Alacrity Solutions Group LLC                                    | Alacrity Solutions Group LLC - Revolver 1L 02/25                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    869272 | PA      | $0.00         | 0.00%             | 2030-02-28      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Alacrity Solutions Group LLC                                    | Alacrity Solutions Group LLC - TL 1L DD 02/25 (Exit)                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1156899 | PA      | $0.00         | 0.00%             | 2030-02-28      | Floating      | 6.25%                 | Yes           |                  3 | On Loan: No      |
| Alacrity Solutions Group LLC                                    | Alacrity Solutions Group LLC - TL 1L 02/25 (Takeback) PIK                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    731374 | PA      | $731374.27    | 0.05%             | 2030-02-28      | Floating      | 9.92%                 | Yes           |                  3 | On Loan: No      |
| Alacrity Solutions Group LLC                                    | Alacrity Solutions Group LLC - TL Mezz 02/25 (PIK)                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    765371 | PA      | $641534.16    | 0.04%             | 2030-02-28      | Floating      | 11.67%                | Yes           |                  3 | On Loan: No      |
| Legends Hospitality LLC                                         | Legends Hospitality LLC - TL 1L 08/24 PIK                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  31372916 | PA      | $31216050.98  | 1.92%             | 2031-08-22      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| Legends Hospitality LLC                                         | Legends Hospitality LLC - TL 1L DD 08/24 PIK                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1783657 | PA      | $1774738.82   | 0.11%             | 2031-08-22      | Floating      | 8.66%                 | Yes           |                  3 | On Loan: No      |
| Legends Hospitality LLC                                         | Legends Hospitality LLC - Revolver 1L 08/24                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3589299 | PA      | $1866435.31   | 0.11%             | 2030-08-22      | Floating      | 3.41%                 | Yes           |                  3 | On Loan: No      |
| Magna Legal Services LLC                                        | Magna Legal Services LLC - Revolver 1L 11/22                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1034488 | PA      | $0.00         | 0.00%             | 2028-11-22      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Lazer Logistics Inc                                             | Lazer Logistics Inc - TL 1L DD 05/23                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1695893 | PA      | $1712852.25   | 0.11%             | 2030-05-06      | Floating      | 8.47%                 | Yes           |                  3 | On Loan: No      |
| Lazer Logistics Inc                                             | Lazer Logistics Inc - TL 1L DD 12/25 (New)                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2601412 | PA      | $1867889.95   | 0.11%             | 2030-05-04      | Floating      | 4.12%                 | Yes           |                  3 | On Loan: No      |
| Lazer Logistics Inc                                             | Lazer Logistics Inc - TL 1L DD 11/23                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1029764 | PA      | $1040061.89   | 0.06%             | 2030-05-04      | Floating      | 8.47%                 | Yes           |                  3 | On Loan: No      |
| Lazer Logistics Inc                                             | Lazer Logistics Inc - TL 1L 11/23                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    512262 | PA      | $517384.45    | 0.03%             | 2030-05-06      | Floating      | 8.47%                 | Yes           |                  3 | On Loan: No      |
| Lazer Logistics Inc                                             | Lazer Logistics Inc - Revolver 1L 05/23                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1387944 | PA      | $0.00         | 0.00%             | 2029-05-04      | Floating      | 0.55%                 | Yes           |                  3 | On Loan: No      |
| Clarience Technologies LLC                                      | Clarience Technologies LLC - TL 1L 06/25 (2025 Incremental)                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1102874 | PA      | $1091845.52   | 0.07%             | 2032-02-13      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| Clarience Technologies LLC                                      | Clarience Technologies LLC - TL 1L DD-A 06/25                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1108416 | PA      | $1097332.20   | 0.07%             | 2032-02-13      | Floating      | 8.44%                 | Yes           |                  3 | On Loan: No      |
| Clarience Technologies LLC                                      | Clarience Technologies LLC - TL 1L 06/25 (2025 Replacement)                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  51445934 | PA      | $50931474.35  | 3.14%             | 2032-02-13      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| Clarience Technologies LLC                                      | Clarience Technologies LLC - TL 1L DD-B 06/25                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  10666214 | PA      | $4109565.17   | 0.25%             | 2032-02-13      | Floating      | 3.10%                 | Yes           |                  3 | On Loan: No      |
| Clarience Technologies LLC                                      | Clarience Technologies LLC - TL 1L DD-C 06/25                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5304831 | PA      | $-53048.31    | -0.00%            | 2032-02-13      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Clarience Technologies LLC                                      | Clarience Technologies LLC - Revolver 1L 06/25 (2025 Replacement)                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5304831 | PA      | $-53048.31    | -0.00%            | 2031-02-13      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| USIC Holdings Inc                                               | USIC Holdings Inc - TL 1L 09/24                                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  18067686 | PA      | $18429039.69  | 1.13%             | 2031-09-10      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| USIC Holdings Inc                                               | USIC Holdings Inc - Revolver 1L 09/24                                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3103809 | PA      | $2695879.82   | 0.17%             | 2031-09-10      | Floating      | 5.25%                 | Yes           |                  3 | On Loan: No      |
| USIC Holdings Inc                                               | USIC Holdings Inc - TL 1L DD 09/24                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1072743 | PA      | $760306.39    | 0.05%             | 2031-09-10      | Floating      | 3.74%                 | Yes           |                  3 | On Loan: No      |
| Vermont Information Processing Inc                              | Vermont Information Processing Inc - TL 1L 01/25                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5962088 | PA      | $5805285.28   | 0.36%             | 2032-01-30      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Vermont Information Processing Inc                              | Vermont Information Processing Inc - TL 1L DD 01/25                                 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2502932 | PA      | $-65827.12    | -0.00%            | 2032-01-30      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Vermont Information Processing Inc                              | Vermont Information Processing Inc - Revolver 1L 12/24                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    750914 | PA      | $-16445.02    | -0.00%            | 2032-01-30      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Service Express Inc                                             | Service Express Inc - TL 1L 12/25 (Incremental)                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  34986462 | PA      | $34762548.64  | 2.14%             | 2032-12-23      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| State Street Institutional U.S. Government Money Market Fund    | State Street Institutional U.S. Government Money Market Fund - Opportunity Class    | CUSIP: N/A<br>LEI: N/A | Long             | STIV             | RF                | US        |  21016696 | NS      | $21016696.36  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BNY Mellon U.S. Treasury Fund                                   | BNY Mellon U.S. Treasury Fund                                                       | CUSIP: N/A<br>LEI: N/A | Long             | STIV             | RF                | US        |  19703206 | NS      | $19703206.37  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alacrity Solutions Group LLC                                    | Alacrity Solutions Group LLC - Common Stock                                         | CUSIP: N/A<br>LEI: N/A | Long             | EC               | CORP              | US        |       423 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| New Era Technology LLC                                          | New Era Technology Inc Common Stock (Takeback)                                      | CUSIP: N/A<br>LEI: N/A | Long             | EC               | CORP              | US        |      1675 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Bonterra LLC                                                    | Bonterra LLC - Revolver 1L 03/25                                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5451821 | PA      | $1384217.35   | 0.09%             | 2032-03-05      | Floating      | 2.27%                 | Yes           |                  3 | On Loan: No      |
| Highgate Hotels Inc                                             | Highgate Hotels Inc - TL 1L DD 12/25                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3407575 | PA      | $34075.75     | 0.00%             | 2029-11-05      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Highgate Hotels Inc                                             | Highgate Hotels Inc - TL 1L 11/23                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4149957 | PA      | $4149956.70   | 0.26%             | 2029-11-05      | Floating      | 9.20%                 | Yes           |                  3 | On Loan: No      |
| Highgate Hotels Inc                                             | Highgate Hotels Inc - Revolver 1L 11/23                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    530690 | PA      | $180434.60    | 0.01%             | 2029-11-05      | Floating      | 2.66%                 | Yes           |                  3 | On Loan: No      |
| ClubCorp Club Operations Inc                                    | ClubCorp Club Operations Inc - TL 1L B-DD 07/25                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1465006 | PA      | $-6885.53     | -0.00%            | 2032-07-09      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| ClubCorp Club Operations Inc                                    | ClubCorp Club Operations Inc - Revolver 1L 07/25                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2441676 | PA      | $-11475.88    | -0.00%            | 2031-07-10      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| ClubCorp Club Operations Inc                                    | ClubCorp Club Operations Inc - TL 1L B 07/25                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  22351105 | PA      | $22246054.70  | 1.37%             | 2032-07-09      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| Conservice LLC                                                  | Conservice LLC - TL 1L 02/26                                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  11502222 | PA      | $11329688.67  | 0.70%             | 2033-02-25      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Conservice LLC                                                  | Conservice LLC - Revolver 1L 02/26                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1566450 | PA      | $-7832.25     | -0.00%            | 2033-02-25      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| CLEAResult Consulting Inc                                       | CLEAResult Consulting Inc - TL 1L DD 08/24                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3549255 | PA      | $35492.55     | 0.00%             | 2031-08-27      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| CLEAResult Consulting Inc                                       | CLEAResult Consulting Inc - Revolver 1L 08/24                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2366170 | PA      | $0.00         | 0.00%             | 2031-08-27      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| CLEAResult Consulting Inc                                       | CLEAResult Consulting Inc - TL 1L 08/24                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  14019557 | PA      | $14159752.82  | 0.87%             | 2031-08-27      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| Flexera Software LLC                                            | Flexera Software LLC - TL 1L 12/25                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8110217 | PA      | $7827169.95   | 0.48%             | 2032-08-16      | Floating      | 8.15%                 | Yes           |                  3 | On Loan: No      |
| Foundation Risk Partners Corp                                   | Foundation Risk Partners Corp - TL 1L DD 11/23                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   7030015 | PA      | $7030015.16   | 0.43%             | 2030-10-29      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Foundation Risk Partners Corp                                   | Foundation Risk Partners Corp - TL 1L DD 02/25                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5948187 | PA      | $4160901.10   | 0.26%             | 2030-10-29      | Floating      | 4.29%                 | Yes           |                  3 | On Loan: No      |
| Foundation Risk Partners Corp                                   | Foundation Risk Partners Corp - TL 1L DD 05/24                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3153459 | PA      | $3153458.80   | 0.19%             | 2030-10-29      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Foundation Risk Partners Corp                                   | Foundation Risk Partners Corp - TL 1L DD 10/21                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    292275 | PA      | $292274.86    | 0.02%             | 2030-10-29      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Foundation Risk Partners Corp                                   | Foundation Risk Partners Corp - Revolver 1L 10/21                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1195216 | PA      | $224103.07    | 0.01%             | 2029-10-29      | Floating      | 1.76%                 | Yes           |                  3 | On Loan: No      |
| Foundation Risk Partners Corp                                   | Foundation Risk Partners Corp - TL 1L 10/21                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4082412 | PA      | $4082412.49   | 0.25%             | 2030-10-29      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Frontline Road Safety LLC                                       | Frontline Road Safety LLC - Revolver 1L 03/25                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   6728837 | PA      | $-14803.44    | -0.00%            | 2032-03-04      | Floating      | 0.38%                 | Yes           |                  3 | On Loan: No      |
| Frontline Road Safety LLC                                       | Frontline Road Safety LLC - TL 1L 03/25 PIK                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  40295986 | PA      | $40207335.30  | 2.48%             | 2032-03-04      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Follett Software Co                                             | Follett Software Co - Revolver 1L 04/25                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    890672 | PA      | $0.00         | 0.00%             | 2030-08-30      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Follett Software Co                                             | Follett Software Co - TL 1L 04/25                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   9489967 | PA      | $9489966.64   | 0.58%             | 2031-08-29      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| Galway Partners Holdings LLC                                    | Galway Partners Holdings LLC - TL 1L DD 02/26                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   6379627 | PA      | $0.00         | 0.00%             | 2028-09-29      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Galway Partners Holdings LLC                                    | Galway Partners Holdings LLC - Revolver 1L 09/21                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1588948 | PA      | $604162.74    | 0.04%             | 2028-09-29      | Floating      | 3.21%                 | Yes           |                  3 | On Loan: No      |
| Galway Partners Holdings LLC                                    | Galway Partners Holdings LLC - TL 1L DD 07/24                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    443710 | PA      | $443709.94    | 0.03%             | 2028-09-29      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Galway Partners Holdings LLC                                    | Galway Partners Holdings LLC - TL 1L B 07/24 (Reprice)                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  22376936 | PA      | $22376936.32  | 1.38%             | 2028-09-29      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Galway Partners Holdings LLC                                    | Galway Partners Holdings LLC - TL 1L DD 04/23                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8204406 | PA      | $8204405.79   | 0.51%             | 2028-09-29      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Gigamon Inc                                                     | Gigamon Inc - TL 1L 03/22                                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4371924 | PA      | $4138900.48   | 0.25%             | 2029-03-09      | Floating      | 9.57%                 | Yes           |                  3 | On Loan: No      |
| GE Digital LLC                                                  | GE Digital LLC - TL 1L 03/26 (Closing Date Acquisition)                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1373468 | PA      | $1366600.66   | 0.08%             | 2033-03-02      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| GE Digital LLC                                                  | GE Digital LLC - Revolver 1L 03/26 (Closing Date)                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    539576 | PA      | $0.00         | 0.00%             | 2033-03-02      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| GE Digital LLC                                                  | GE Digital LLC - TL 1L 03/26 (Specified Acquisition)                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1667782 | PA      | $1659443.09   | 0.10%             | 2033-03-02      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| Granicus Inc                                                    | Granicus Inc - Revolver 1L 01/24                                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2282361 | PA      | $0.00         | 0.00%             | 2031-01-17      | Floating      | 0.38%                 | Yes           |                  3 | On Loan: No      |
| Granicus Inc                                                    | Granicus Inc - TL 1L DD 01/24 PIK                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   6906044 | PA      | $6906044.29   | 0.43%             | 2031-01-17      | Floating      | 2.33%                 | Yes           |                  3 | On Loan: No      |
| Granicus Inc                                                    | Granicus Inc - TL 1L 01/24 (Unitranche) PIK                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  16597190 | PA      | $16597189.96  | 1.02%             | 2031-01-17      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| Granicus Inc                                                    | Granicus Inc - TL 1L DD 08/24 PIK                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    669606 | PA      | $0.00         | 0.00%             | 2031-01-17      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Homrich & Berg Inc                                              | Homrich & Berg Inc - TL 1L DD 01/26                                                 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5806914 | PA      | $807161.01    | 0.05%             | 2031-11-17      | Floating      | 1.47%                 | Yes           |                  3 | On Loan: No      |
| Homrich & Berg Inc                                              | Homrich & Berg Inc - TL 1L DD 11/24                                                 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   7483300 | PA      | $7518471.63   | 0.46%             | 2031-11-17      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| Homrich & Berg Inc                                              | Homrich & Berg Inc - Revolver 1L 11/24                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1511778 | PA      | $991461.81    | 0.06%             | 2031-08-18      | Floating      | 4.32%                 | Yes           |                  3 | On Loan: No      |
| Homrich & Berg Inc                                              | Homrich & Berg Inc - TL 1L 11/24                                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   6236083 | PA      | $6265392.85   | 0.39%             | 2031-11-17      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| Arcwood Environmental (fka Heritage Environmental Services Inc) | Arcwood Environmental (fka Heritage Environmental Services Inc) - TL 1L DD 09/24    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    971268 | PA      | $971267.75    | 0.06%             | 2031-01-31      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Arcwood Environmental (fka Heritage Environmental Services Inc) | Arcwood Environmental (fka Heritage Environmental Services Inc) - TL 1L 09/24       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1815468 | PA      | $1815467.94   | 0.11%             | 2031-01-31      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Radwell International LLC                                       | Radwell International LLC - TL 1L 12/22                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  17549710 | PA      | $17461961.90  | 1.08%             | 2030-04-01      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Radwell International LLC                                       | Radwell International LLC - Revolver 1L 04/22                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1360357 | PA      | $310614.86    | 0.02%             | 2030-04-01      | Floating      | 1.69%                 | Yes           |                  3 | On Loan: No      |
| Rialto Capital Management LLC                                   | Rialto Capital Management LLC - TL 1L 12/24                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  11354653 | PA      | $11468199.32  | 0.71%             | 2030-12-05      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| Rialto Capital Management LLC                                   | Rialto Capital Management LLC - Revolver 1L 12/24                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    749081 | PA      | $0.00         | 0.00%             | 2030-12-05      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| CSafe Global                                                    | CSafe Global - TL 1L 03/24 (GBP)                                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4762164 | PA      | $6303200.21   | 0.39%             | 2028-12-14      | Floating      | 9.38%                 | Yes           |                  3 | On Loan: No      |
| CSafe Global                                                    | CSafe Global - Revolver 1L 03/24                                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3598471 | PA      | $1187495.43   | 0.07%             | 2029-03-08      | Floating      | 2.70%                 | Yes           |                  3 | On Loan: No      |
| CSafe Global                                                    | CSafe Global - TL 1L 03/24 Incremental                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  34131144 | PA      | $34131144.04  | 2.10%             | 2028-12-14      | Floating      | 9.38%                 | Yes           |                  3 | On Loan: No      |
| CSafe Global                                                    | CSafe Global - TL 1L 11/24 (Incremental)                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    800745 | PA      | $800744.90    | 0.05%             | 2028-12-14      | Floating      | 9.38%                 | Yes           |                  3 | On Loan: No      |
| Xylem Kendall                                                   | Xylem Kendall - Revolver 1L 06/25                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1156688 | PA      | $836478.21    | 0.05%             | 2030-04-22      | Floating      | 4.57%                 | Yes           |                  3 | On Loan: No      |
| Xylem Kendall                                                   | Xylem Kendall - TL 1L DD 06/25 (7th Amendment)                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8415932 | PA      | $1552911.94   | 0.10%             | 2030-04-22      | Floating      | 2.40%                 | Yes           |                  3 | On Loan: No      |
| Xylem Kendall                                                   | Xylem Kendall - TL 1L 06/25                                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5576524 | PA      | $5533584.79   | 0.34%             | 2030-04-22      | Floating      | 9.81%                 | Yes           |                  3 | On Loan: No      |
| Xylem Kendall                                                   | Xylem Kendall - TL 1L DD-A 06/25 (6th Amendment)                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    340476 | PA      | $337854.39    | 0.02%             | 2030-04-22      | Floating      | 9.80%                 | Yes           |                  3 | On Loan: No      |
| Com Laude Group Ltd                                             | Com Laude Group Ltd - TL 1L DD 12/25                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    892116 | PA      | $-20786.30    | -0.00%            | 2032-12-30      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Com Laude Group Ltd                                             | Com Laude Group Ltd - Revolver 1L 12/25                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    356846 | PA      | $-5852.27     | -0.00%            | 2032-12-30      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Com Laude Group Ltd                                             | Com Laude Group Ltd - TL 1L 12/25                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4538416 | PA      | $4432670.45   | 0.27%             | 2032-12-30      | Floating      | 8.69%                 | Yes           |                  3 | On Loan: No      |
| Dental Care Alliance Inc                                        | Dental Care Alliance Inc - TL 1L 03/21                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3760361 | PA      | $3220749.02   | 0.20%             | 2028-04-03      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Dental Care Alliance Inc                                        | Dental Care Alliance Inc - TL 1L DD 02/22 (add-on)                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    204933 | PA      | $175524.98    | 0.01%             | 2028-04-03      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Dental Care Alliance Inc                                        | Dental Care Alliance Inc - TL 1L 02/22 (Add-on)                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    411297 | PA      | $352276.27    | 0.02%             | 2028-04-03      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| DuBois Chemicals Inc                                            | DuBois Chemicals Inc - TL 1L DD 06/24                                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3817850 | PA      | $2710728.05   | 0.17%             | 2031-06-13      | Floating      | 4.20%                 | Yes           |                  3 | On Loan: No      |
| DuBois Chemicals Inc                                            | DuBois Chemicals Inc - TL 1L 06/24                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  22830741 | PA      | $22837590.22  | 1.41%             | 2031-06-13      | Floating      | 8.70%                 | Yes           |                  3 | On Loan: No      |
| DuBois Chemicals Inc                                            | DuBois Chemicals Inc - Revolver 1L 06/24                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3817850 | PA      | $0.00         | 0.00%             | 2031-06-13      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Sphera Solutions Inc                                            | Sphera Solutions Inc - TL 1L DD 09/25                                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2659996 | PA      | $-129009.81   | -0.01%            | 2032-09-24      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Denali Water Solutions LLC                                      | Denali Water Solutions LLC - TL 1L 11/25                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  28708847 | PA      | $28565302.77  | 1.76%             | 2032-11-19      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Denali Water Solutions LLC                                      | Denali Water Solutions LLC - TL 1L 03/26 (Add-on)                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1362215 | PA      | $1355403.93   | 0.08%             | 2032-11-19      | Floating      | 8.42%                 | Yes           |                  3 | On Loan: No      |
| DOXA Insurance Holdings LLC                                     | DOXA Insurance Holdings LLC - TL 1L DD 05/24                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4367330 | PA      | $2698484.19   | 0.17%             | 2030-12-20      | Floating      | 5.19%                 | Yes           |                  3 | On Loan: No      |
| DOXA Insurance Holdings LLC                                     | DOXA Insurance Holdings LLC - TL 1L DD 12/23                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4467268 | PA      | $4452079.32   | 0.27%             | 2030-12-20      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| DOXA Insurance Holdings LLC                                     | DOXA Insurance Holdings LLC - Revolver 1L 12/23                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1027092 | PA      | $287503.61    | 0.02%             | 2029-12-20      | Floating      | 2.20%                 | Yes           |                  3 | On Loan: No      |
| DOXA Insurance Holdings LLC                                     | DOXA Insurance Holdings LLC - TL 1L 12/23                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4696879 | PA      | $4680909.67   | 0.29%             | 2030-12-20      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Eagle Railcar Services Roscoe Inc                               | Eagle Railcar Services Roscoe Inc - TL 1L DD 06/25                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1932571 | PA      | $-3865.14     | -0.00%            | 2032-06-14      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Eagle Railcar Services Roscoe Inc                               | Eagle Railcar Services Roscoe Inc - TL 1L 06/25                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   9229959 | PA      | $9211499.38   | 0.57%             | 2032-06-14      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Eagle Railcar Services Roscoe Inc                               | Eagle Railcar Services Roscoe Inc - Revolver 1L 06/25                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1739314 | PA      | $-3478.63     | -0.00%            | 2032-06-14      | Floating      | 5.00%                 | Yes           |                  3 | On Loan: No      |
| Turnpoint Services Inc                                          | Turnpoint Services Inc - TL 1L DD 06/24                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1978155 | PA      | $-45497.56    | -0.00%            | 2031-06-17      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Turnpoint Services Inc                                          | Turnpoint Services Inc - Revolver 1L 06/24                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1236380 | PA      | $466115.26    | 0.03%             | 2030-06-17      | Floating      | 2.59%                 | Yes           |                  3 | On Loan: No      |
| Turnpoint Services Inc                                          | Turnpoint Services Inc - TL 1L 06/24                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  10088457 | PA      | $9856422.49   | 0.61%             | 2031-06-17      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| Flexera Software LLC                                            | Flexera Software LLC - TL 1L 08/25 EUR                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   6270273 | PA      | $6994557.47   | 0.43%             | 2032-08-16      | Floating      | 6.45%                 | Yes           |                  3 | On Loan: No      |
| Flexera Software LLC                                            | Flexera Software LLC - TL 1L 08/25                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  20776922 | PA      | $20051807.42  | 1.23%             | 2032-08-16      | Floating      | 8.15%                 | Yes           |                  3 | On Loan: No      |
| Flexera Software LLC                                            | Flexera Software LLC - Revolver 1L 08/25                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1685297 | PA      | $-50221.85    | -0.00%            | 2032-08-16      | Floating      | 0.25%                 | Yes           |                  3 | On Loan: No      |
| Higginbotham Insurance Agency Inc                               | Higginbotham Insurance Agency Inc - TL 1L DD-B 12/25                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2784052 | PA      | $-13920.26    | -0.00%            | 2031-06-11      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Higginbotham Insurance Agency Inc                               | Higginbotham Insurance Agency Inc - TL 1L 12/25                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  23244934 | PA      | $23128709.61  | 1.42%             | 2031-06-11      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| Horizon CTS Buyer LLC                                           | Horizon CTS Buyer LLC - TL 1L DD 03/25                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2204748 | PA      | $2199015.52   | 0.14%             | 2032-03-29      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Horizon CTS Buyer LLC                                           | Horizon CTS Buyer LLC - TL 1L 03/25                                                 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  11655806 | PA      | $11625500.77  | 0.72%             | 2032-03-29      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Horizon CTS Buyer LLC                                           | Horizon CTS Buyer LLC - Revolver 1L 03/25                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   6924825 | PA      | $1200764.65   | 0.07%             | 2032-03-29      | Floating      | 1.69%                 | Yes           |                  3 | On Loan: No      |
| Lazer Logistics Inc                                             | Lazer Logistics Inc - TL 1L B 05/23 (Unitranche)                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  11192897 | PA      | $11304825.86  | 0.70%             | 2030-05-06      | Floating      | 8.47%                 | Yes           |                  3 | On Loan: No      |
| Lipari Foods LLC                                                | Lipari Foods LLC - TL 1L DD 10/22                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1876206 | PA      | $1875643.25   | 0.12%             | 2028-10-31      | Floating      | 10.35%                | Yes           |                  3 | On Loan: No      |
| Lipari Foods LLC                                                | Lipari Foods LLC - TL 1L 10/22                                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  14594034 | PA      | $14589655.42  | 0.90%             | 2028-10-31      | Floating      | 10.32%                | Yes           |                  3 | On Loan: No      |
| Resa Power LLC                                                  | Resa Power LLC - TL 1L DD 04/25                                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3155225 | PA      | $31552.25     | 0.00%             | 2032-04-28      | Floating      | 0.25%                 | Yes           |                  3 | On Loan: No      |
| Netsmart Technologies Inc                                       | Netsmart Technologies Inc - TL 1L 08/24 PIK                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  37741871 | PA      | $37217259.26  | 2.29%             | 2031-08-25      | Floating      | 8.87%                 | Yes           |                  3 | On Loan: No      |
| Netsmart Technologies Inc                                       | Netsmart Technologies Inc - Revolver 1L 08/24                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4934902 | PA      | $-68595.14    | -0.00%            | 2031-08-25      | Floating      | 0.38%                 | Yes           |                  3 | On Loan: No      |
| New Era Technology LLC                                          | New Era Technology Inc - TL 1L 08/25 PIK                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1858703 | PA      | $1858703.41   | 0.11%             | 2030-06-30      | Floating      | 10.10%                | Yes           |                  3 | On Loan: No      |
| NEFCO Corp                                                      | NEFCO Corp - TL 1L DD 01/26                                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3119805 | PA      | $-7799.51     | -0.00%            | 2033-01-13      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Alacrity Solutions Group LLC                                    | Alacrity Solutions Group LLC -Perp (Pref Equity) PIK                                | CUSIP: N/A<br>LEI: N/A | Long             | EP               | CORP              | US        |       452 | NS      | $18172.51     | 0.00%             | N/A             | Floating      | 11.90%                | Yes           |                  3 | On Loan: No      |
| New Era Technology LLC                                          | New Era Technology Inc Perp (Pref Equity) PIK                                       | CUSIP: N/A<br>LEI: N/A | Long             | EP               | CORP              | US        |      1675 | NS      | $434578.75    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Affordable Care Inc                                             | Affordable Care Inc - TL 1L DD 08/21 PIK                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    604219 | PA      | $436306.34    | 0.03%             | 2028-08-02      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Affordable Care Inc                                             | Affordable Care Inc - TL 1L DD 08/23 PIK                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    654802 | PA      | $472832.49    | 0.03%             | 2028-08-02      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Affordable Care Inc                                             | Affordable Care Inc - TL 1L 08/21 PIK                                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3376364 | PA      | $2438072.78   | 0.15%             | 2028-08-02      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| AVE Holdings I Corp                                             | AVE Holdings I Corp - TL 1L 02/22                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3793150 | PA      | $3610319.77   | 0.22%             | 2028-02-25      | Floating      | 9.35%                 | Yes           |                  3 | On Loan: No      |
| Apex Service Partners LLC                                       | Apex Service Partners LLC - DDTL 1L 09/24 (Replacement)                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1911616 | PA      | $1930731.95   | 0.12%             | 2030-10-24      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Apex Service Partners LLC                                       | Apex Service Partners LLC - TL 1L 09/24                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   7424424 | PA      | $7498667.95   | 0.46%             | 2030-10-24      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Apex Service Partners LLC                                       | Apex Service Partners LLC - TL 1L DD 09/24 (OpCo)                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  13316426 | PA      | $13449590.34  | 0.83%             | 2030-10-24      | Floating      | 8.68%                 | Yes           |                  3 | On Loan: No      |
| Apex Service Partners LLC                                       | Apex Service Partners LLC - Revolver 1L 09/24                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    641253 | PA      | $294345.64    | 0.02%             | 2029-10-24      | Floating      | 3.08%                 | Yes           |                  3 | On Loan: No      |
| Apex Service Partners LLC                                       | Apex Service Partners LLC - TL 1L DD 11/25                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   7731200 | PA      | $903215.01    | 0.06%             | 2030-10-24      | Floating      | 1.84%                 | Yes           |                  3 | On Loan: No      |
| BDO USA PA                                                      | BDO USA PA - TL 1L 11/25                                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1068063 | PA      | $1063790.90   | 0.07%             | 2028-08-31      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| Arcwood Environmental (fka Heritage Environmental Services Inc) | Arcwood Environmental (fka Heritage Environmental Services Inc) - TL 1L DD 09/25    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1253915 | PA      | $1253915.00   | 0.08%             | 2031-01-31      | Floating      | 8.70%                 | Yes           |                  3 | On Loan: No      |
| Arcwood Environmental (fka Heritage Environmental Services Inc) | Arcwood Environmental (fka Heritage Environmental Services Inc) - TL 1L 09/25       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1397219 | PA      | $1397219.00   | 0.09%             | 2031-01-31      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Orion Services Group                                            | Orion Services Group - TL 1L DD 11/25                                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2590211 | PA      | $493435.20    | 0.03%             | 2032-11-26      | Floating      | 2.44%                 | Yes           |                  3 | On Loan: No      |
| Orion Services Group                                            | Orion Services Group - TL 1L 11/25                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   7874240 | PA      | $7799434.72   | 0.48%             | 2032-11-26      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| BDO USA PA                                                      | BDO USA PA - TL 1L 08/23                                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5542917 | PA      | $5520745.23   | 0.34%             | 2028-08-31      | Floating      | 8.64%                 | Yes           |                  3 | On Loan: No      |
| BGB Group LLC                                                   | BGB Group LLC - TL 1L DD 12/25                                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2051864 | PA      | $0.00         | 0.00%             | 2030-02-16      | Floating      | 6.25%                 | Yes           |                  3 | On Loan: No      |
| BGB Group LLC                                                   | BGB Group LLC - Revolver 1L 12/25                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3077795 | PA      | $0.00         | 0.00%             | 2030-02-16      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Magna Legal Services LLC                                        | Magna Legal Services LLC - TL 1L DD 11/22                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2409726 | PA      | $2409726.15   | 0.15%             | 2029-11-21      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| Magna Legal Services LLC                                        | Magna Legal Services LLC - TL 1L DD 12/23                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3638306 | PA      | $3638306.35   | 0.22%             | 2029-11-22      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Magna Legal Services LLC                                        | Magna Legal Services LLC - TL 1L 11/22                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8608057 | PA      | $8608057.13   | 0.53%             | 2029-11-21      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| Magna Legal Services LLC                                        | Magna Legal Services LLC - TL 1L DD 02/26                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4459466 | PA      | $0.00         | 0.00%             | 2029-11-22      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Service Express Inc                                             | Service Express Inc - TL 1L A 12/25 (Refinancing)                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  25544892 | PA      | $25381405.00  | 1.56%             | 2032-12-23      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Service Express Inc                                             | Service Express Inc - TL 1L DD 12/25 (Incremental)                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   7302138 | PA      | $-46733.68    | -0.00%            | 2032-12-23      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Service Express Inc                                             | Service Express Inc - Revolver 1L 12/25 (Incremental)                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8541760 | PA      | $-54667.26    | -0.00%            | 2032-12-23      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Service Express Inc                                             | Service Express Inc - TL 1L B 12/25 (Refinancing)                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |     67078 | PA      | $66648.70     | 0.00%             | 2032-12-23      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Resa Power LLC                                                  | Resa Power LLC - TL 1L 04/25                                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  22313834 | PA      | $22536972.80  | 1.39%             | 2032-04-28      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Resa Power LLC                                                  | Resa Power LLC - Revolver 1L 04/25 (CAD Multi Currency)                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    307287 | PA      | $0.00         | 0.00%             | 2032-04-28      | Floating      | 0.25%                 | Yes           |                  3 | On Loan: No      |
| Resa Power LLC                                                  | Resa Power LLC - Revolver 1L 04/25                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2458297 | PA      | $0.00         | 0.00%             | 2032-04-28      | Floating      | 0.25%                 | Yes           |                  3 | On Loan: No      |
| MAI Capital Management LLC                                      | MAI Capital Management LLC - TL 1L 08/24                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5675350 | PA      | $5732103.16   | 0.35%             | 2031-08-29      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| MAI Capital Management LLC                                      | MAI Capital Management LLC - TL 1L DD 08/24                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   3335311 | PA      | $3368663.75   | 0.21%             | 2031-08-29      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| MAI Capital Management LLC                                      | MAI Capital Management LLC - TL 1L DD 06/25                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8458427 | PA      | $5762942.71   | 0.35%             | 2031-08-29      | Floating      | 3.69%                 | Yes           |                  3 | On Loan: No      |
| MAI Capital Management LLC                                      | MAI Capital Management LLC - Revolver 1L 08/24                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1966899 | PA      | $727752.63    | 0.04%             | 2031-08-29      | Floating      | 3.04%                 | Yes           |                  3 | On Loan: No      |
| MB2 Dental Solutions LLC                                        | MB2 Dental Solutions LLC - TL 1L DD 1 02/24                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   6171642 | PA      | $6224718.03   | 0.38%             | 2031-02-13      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| MB2 Dental Solutions LLC                                        | MB2 Dental Solutions LLC - TL 1L DD 2 02/24                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4329469 | PA      | $4366702.18   | 0.27%             | 2031-02-13      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| MB2 Dental Solutions LLC                                        | MB2 Dental Solutions LLC - Revolver 1L 02/24                                        | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2112672 | PA      | $84506.88     | 0.01%             | 2031-02-13      | Floating      | 0.85%                 | Yes           |                  3 | On Loan: No      |
| MB2 Dental Solutions LLC                                        | MB2 Dental Solutions LLC - TL 1L DD-3 03/26                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   7205987 | PA      | $61971.49     | 0.00%             | 2031-03-13      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| MB2 Dental Solutions LLC                                        | MB2 Dental Solutions LLC - TL 1L 02/24 (Unitranche)                                 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  29896838 | PA      | $30153951.25  | 1.86%             | 2031-02-13      | Floating      | 9.17%                 | Yes           |                  3 | On Loan: No      |
| Med-Metrix                                                      | Med-Metrix - TL 1L DD 07/25                                                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  11931191 | PA      | $-31985.75    | -0.00%            | 2032-07-21      | Floating      | 0.54%                 | Yes           |                  3 | On Loan: No      |
| Med-Metrix                                                      | Med-Metrix - Revolver 1L 07/25                                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5077102 | PA      | $0.00         | 0.00%             | 2032-07-21      | Floating      | 0.25%                 | Yes           |                  3 | On Loan: No      |
| Med-Metrix                                                      | Med-Metrix - TL 1L 07/25                                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  28685629 | PA      | $28456143.97  | 1.75%             | 2032-07-21      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| Vitu                                                            | Vitu - TL 1L 01/25                                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  14456265 | PA      | $14600827.94  | 0.90%             | 2032-01-06      | Floating      | 8.20%                 | Yes           |                  3 | On Loan: No      |
| Vitu                                                            | Vitu - Revolver 1L 01/25                                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2366895 | PA      | $0.00         | 0.00%             | 2031-01-06      | Floating      | 0.38%                 | Yes           |                  3 | On Loan: No      |
| Netsmart Technologies Inc                                       | Netsmart Technologies Inc - TL 1L 11/25 (Incremental) PIK                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   6233952 | PA      | $6147299.64   | 0.38%             | 2031-08-25      | Floating      | 8.87%                 | Yes           |                  3 | On Loan: No      |
| Netsmart Technologies Inc                                       | Netsmart Technologies Inc - TL 1L DD 08/24 PIK                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4838147 | PA      | $-67250.24    | -0.00%            | 2031-08-25      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| NEFCO Corp                                                      | NEFCO Corp - Revolver 1L 01/26                                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2079870 | PA      | $410774.33    | 0.03%             | 2033-01-13      | Floating      | 2.36%                 | Yes           |                  3 | On Loan: No      |
| NEFCO Corp                                                      | NEFCO Corp - TL 1L 01/26                                                            | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  14559088 | PA      | $14522690.28  | 0.89%             | 2033-01-13      | Floating      | 8.24%                 | Yes           |                  3 | On Loan: No      |
| Rockefeller Capital Management LP                               | Rockefeller Capital Management LP - TL 1L 12/25                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  57765766 | PA      | $57511596.63  | 3.54%             | 2032-12-02      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| Rockefeller Capital Management LP                               | Rockefeller Capital Management LP - TL 1L DD 12/25                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5635685 | PA      | $-24797.01    | -0.00%            | 2032-12-02      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| OEConnection LLC                                                | OEConnection LLC - TL 1L 04/24                                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  26840785 | PA      | $26239550.97  | 1.62%             | 2032-12-23      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| OEConnection LLC                                                | OEConnection LLC - Revolver 1L 04/24                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2842854 | PA      | $-35251.39    | -0.00%            | 2032-12-23      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| OEConnection LLC                                                | OEConnection LLC - TL 1L DD 12/24                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4673658 | PA      | $-104689.94   | -0.01%            | 2032-12-23      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| PCI Pharma Services                                             | PCI Pharma Services - TL 1L DD-1 10/25                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2990006 | PA      | $-29900.06    | -0.00%            | 2032-10-15      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| PCI Pharma Services                                             | PCI Pharma Services - TL 1L DD 07/25 (Alternative Currency)                         | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4187710 | PA      | $4113208.18   | 0.25%             | 2032-10-15      | Floating      | 8.73%                 | Yes           |                  3 | On Loan: No      |
| PCI Pharma Services                                             | PCI Pharma Services - TL 1L DD 07/25 (Initial Dollar)                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   7295174 | PA      | $-72951.74    | -0.00%            | 2032-10-15      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| PCI Pharma Services                                             | PCI Pharma Services - TL 1L 07/25                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  45759680 | PA      | $45302083.13  | 2.79%             | 2032-10-15      | Floating      | 8.67%                 | Yes           |                  3 | On Loan: No      |
| Horizon CTS Buyer LLC                                           | Horizon CTS Buyer LLC - TL 1L DD 11/25                                              | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   8310083 | PA      | $-21606.22    | -0.00%            | 2032-03-29      | Floating      | 1.00%                 | Yes           |                  3 | On Loan: No      |
| Horizon CTS Buyer LLC                                           | Horizon CTS Buyer LLC - TL 1L 11/25                                                 | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  19944198 | PA      | $19892343.09  | 1.22%             | 2032-03-29      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Learning Experience Corp/The                                    | Learning Experience Corp/The - TL 1L 07/25                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5099154 | PA      | $5127709.26   | 0.32%             | 2032-07-01      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Learning Experience Corp/The                                    | Learning Experience Corp/The - Revolver 1L 07/25                                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1121814 | PA      | $0.00         | 0.00%             | 2032-07-01      | Floating      | 0.25%                 | Yes           |                  3 | On Loan: No      |
| Veriforce LLC                                                   | Veriforce LLC - TL 1L DD 09/25                                                      | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4185433 | PA      | $-112169.59   | -0.01%            | 2031-11-21      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Veriforce LLC                                                   | Veriforce LLC - TL 1L DD-2 11/24 USD                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1619243 | PA      | $-21697.86    | -0.00%            | 2031-11-21      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Veriforce LLC                                                   | Veriforce LLC - TL 1L 11/24 GBP                                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  10467100 | PA      | $13668606.60  | 0.84%             | 2031-11-21      | Floating      | 8.48%                 | Yes           |                  3 | On Loan: No      |
| Veriforce LLC                                                   | Veriforce LLC - TL 1L 11/24 USD                                                     | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  30610363 | PA      | $30200184.54  | 1.86%             | 2031-11-21      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Veriforce LLC                                                   | Veriforce LLC - Revolver 1L 11/24                                                   | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2923307 | PA      | $-9939.24     | -0.00%            | 2031-11-21      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Wealth Enhancement Group LLC                                    | Wealth Enhancement Group LLC - TL 1L DD 12/24                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   4234178 | PA      | $2759032.73   | 0.17%             | 2028-10-02      | Floating      | 3.45%                 | Yes           |                  3 | On Loan: No      |
| Wealth Enhancement Group LLC                                    | Wealth Enhancement Group LLC - TL 1L DD 08/25 (Add-on & Reprice)                    | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1529303 | PA      | $0.00         | 0.00%             | 2028-10-02      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Wealth Enhancement Group LLC                                    | Wealth Enhancement Group LLC - TL 1L DD 02/24                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    593914 | PA      | $593914.26    | 0.04%             | 2028-10-02      | Floating      | 7.91%                 | Yes           |                  3 | On Loan: No      |
| Spins LLC                                                       | Spins LLC - TL 1L DD 02/25 (Restated)                                               | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1181464 | PA      | $1181464.44   | 0.07%             | 2029-01-22      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Wealth Enhancement Group LLC                                    | Wealth Enhancement Group LLC - Revolver 1L 05/22 (Add-on)                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |    175522 | PA      | $0.00         | 0.00%             | 2028-10-02      | Floating      | 0.50%                 | Yes           |                  3 | On Loan: No      |
| Spins LLC                                                       | Spins LLC - TL 1L 01/26                                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   5938410 | PA      | $5898622.44   | 0.36%             | 2029-01-22      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Spins LLC                                                       | Spins LLC - TL 1L DD 02/25 (Amendment #1)                                           | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1444012 | PA      | $1444011.96   | 0.09%             | 2029-01-22      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| Spins LLC                                                       | Spins LLC - Revolver 1L 02/25                                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1723886 | PA      | $0.00         | 0.00%             | 2029-01-22      | Floating      | 0.38%                 | Yes           |                  3 | On Loan: No      |
| Spins LLC                                                       | Spins LLC - TL 1L 02/25 (Restated)                                                  | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  15074298 | PA      | $15074298.05  | 0.93%             | 2029-01-22      | Floating      | 8.45%                 | Yes           |                  3 | On Loan: No      |
| West Star Aviation Inc                                          | West Star Aviation Inc - TL 1L DD 05/25                                             | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   2983002 | PA      | $2302713.44   | 0.14%             | 2032-05-20      | Floating      | 4.03%                 | Yes           |                  3 | On Loan: No      |
| West Star Aviation Inc                                          | West Star Aviation Inc - TL 1L 05/25                                                | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  14191638 | PA      | $14276788.07  | 0.88%             | 2032-05-20      | Floating      | 8.17%                 | Yes           |                  3 | On Loan: No      |
| West Star Aviation Inc                                          | West Star Aviation Inc - Revolver 1L 05/25                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |   1994819 | PA      | $199481.89    | 0.01%             | 2032-05-20      | Floating      | 1.11%                 | Yes           |                  3 | On Loan: No      |
| Woolpert Inc                                                    | Woolpert Inc - TL 1L DD 09/25                                                       | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  10184684 | PA      | $3398629.05   | 0.21%             | 2032-04-05      | Floating      | 3.07%                 | Yes           |                  3 | On Loan: No      |
| Woolpert Inc                                                    | Woolpert Inc - TL 1L 09/25                                                          | CUSIP: N/A<br>LEI: N/A | Long             | LON              | CORP              | US        |  39689848 | PA      | $39836700.11  | 2.45%             | 2032-04-05      | Floating      | 8.27%                 | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-01

**Name of Applicant:** KKR US Direct Lending Fund-U Inc.

**Signature:** Thomas Murphy

**Name of Signer:** Thomas Murphy

**Title:** Chief Financial Officer, Chief Accounting Officer and Treasurer