# EDGAR Filing Document

**Accession Number:** 0001992148
**File Stem:** 0001049169-26-000673
**Filing Date:** 2026-2
**Character Count:** 92467
**Document Hash:** 3afb12f4fdbf93b3f6a53281fb9fcaf2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-26-000673.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001049169-26-000673

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eagle Point Enhanced Income Trust
- **CENTRAL INDEX KEY:** 0001992148

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23909
- **FILM NUMBER:** 26700659

**BUSINESS ADDRESS:**
- **STREET 1:** 600 STEAMBOAT ROAD
- **STREET 2:** SUITE 202
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** 203-340-8500

**MAIL ADDRESS:**
- **STREET 1:** 600 STEAMBOAT ROAD
- **STREET 2:** SUITE 202
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

## Nport-Ex

![](fp0097804-1_01.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer/Investment<sup>(1)</sup>** | **Acquisition<br> Date<sup>(2)</sup>** | **Principal<br> Amount/<br> Shares** | **Cost** | **Fair Value<sup>(3)</sup>** |
| **Investments at Fair Value - 154.24% of Net Assets<sup>(4),(5)</sup>** |  |  |  |  |
| **Asset Backed Securities - 14.30% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Structured Finance** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**France** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**FCT Noria 2023** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class G Note, 14.39% (1M EURIBOR + 12.50%, due 10/25/2040)<sup>(6),(7),(8)</sup> | 10/01/2023 | 1205603 | $1278124 | $1311978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Carmax Select Receivables Trust 2025-B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R Note (effective yield 24.22%, maturity 9/15/2032)<sup>(8)</sup> | 9/17/2025 | 1612 | 1139845 | 1116138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Carvana Auto Receivables Trust 2024-P4** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R Note (effective yield 16.53%, maturity 12/10/2032)<sup>(8)</sup> | 12/10/2024 | 2937 | 1159922 | 1115996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Carvana Auto Receivables Trust 2025-N1** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class EX5 Note (effective yield 28.07%, maturity 8/10/2032)<sup>(8)</sup> | 2/11/2025 | 3571 | 956050 | 948014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Carvana Auto Receivables Trust 2025-P3** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R Note (effective yield 16.23%, maturity 9/12/2033)<sup>(8)</sup> | 9/16/2025 | 4850 | 3267020 | 3249625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**PenFed Auto Receivables Owner Trust 2025-A** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class R Note (effective yield 15.05%, maturity 10/17/2033)<sup>(8)</sup> | 9/11/2025 | 5250 | 763191 | 766389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**VCP RRL ABS IV LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C Note, 11.28% (3M SOFR + 7.40%, due 4/20/2035)<sup>(6),(8)</sup> | 2/04/2025 | 2090977 | 2090977 | 2091576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total United States |  |  | 9377005 | 9287738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Asset Backed Securities** |  |  | 10655129 | 10599716 |
| **Collateralized Fund Obligation Equity - 9.81% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Structured Finance** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ALP CFO 2024, L.P.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 38.50%, maturity 10/15/2036)<sup>(7),(8),(9)</sup> | 10/21/2024 | $2036000 | 2036000 | 1922855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ALP CFO 2025, L.P.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 39.04%, maturity 7/15/2037)<sup>(7),(8),(9)</sup> | 7/30/2025 | 3250000 | 3250000 | 3252635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Coller Private Equity Backed Notes & Loans II-A L.P.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Equity (effective yield 21.86%, maturity 4/30/2037)<sup>(7),(8),(9)</sup> | 7/21/2025 | 1832130 | 1832129 | 1723045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Glendower Capital Secondaries CFO, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Loan (effective yield 44.85%, maturity 7/13/2038)<sup>(7),(8),(9)</sup> | 10/01/2023 | 415896 | 434406 | 378320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Collateralized Fund Obligation Equity** |  |  | 7552535 | 7276855 |
| **Collateralized Loan Obligation Debt - 2.05% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Structured Finance** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Allegany Park CLO, Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secured Note - Class E-R-R, 10.28% (3M SOFR + 6.40%, due 1/20/2035)<sup>(6),(8)</sup> | 11/13/2025 | 150000 | 146897 | 145631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**KKR CLO 16 Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secured Note - Class D-R2, 11.26% (3M SOFR + 7.37%, due 1/20/2032)<sup>(6),(8)</sup> | 10/01/2023 | 1200000 | 1120586 | 1151473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**RAD CLO 21, Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secured Note - Class E-1R, 8.76% (3M SOFR + 4.90%, due 1/25/2037)<sup>(6),(8)</sup> | 11/07/2025 | 225000 | 219975 | 223580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Collateralized Loan Obligation Debt** |  |  | 1487458 | 1520684 |
| **Collateralized Loan Obligation Equity - 26.42% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Structured Finance** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**European Union – Various** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aqueduct European CLO 5-2020 DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class M-1 Note (effective yield 6.61%, maturity 4/20/2034)<sup>(7),(8),(9),(10)</sup> | 12/27/2024 | 962000 | 637388 | 606622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aqueduct European CLO 5-2020 DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class M-2 Note (effective yield 6.61%, maturity 4/20/2034)<sup>(7),(8),(9),(10),(11)</sup> | 12/27/2024 | 973000 | 698146 | 626510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Aurium CLO XIII DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 10.94%, maturity 4/15/2038)<sup>(7),(8),(9),(10)</sup> | 1/30/2025 | 905000 | 881848 | 918056 |

---

![](fp0097804-1_01.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer/Investment<sup>(1)</sup>** | **Acquisition<br> Date<sup>(2)</sup>** | **Principal<br> Amount/<br> Shares** | **Cost** | **Fair Value<sup>(3)</sup>** |
| **Collateralized Loan Obligation Equity - 26.42% of Net Assets (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Structured Finance (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**European Union - Various (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Avoca CLO XXXI DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 9.68%, maturity 7/15/2038)<sup>(7),(8),(9),(10)</sup> | 2/12/2025 $| 820000 | $683495 | $664885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Blackrock European CLO XV DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 8.11%, maturity 1/28/2038)<sup>(7),(8),(9),(10)</sup> | 11/29/2024 | 810000 | 772865 | 743247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Dryden 125 Euro Clo 2024 DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 16.11%, maturity 11/18/2038)<sup>(7),(8),(9),(10),(11)</sup> | 10/03/2025 | 1280000 | 1254931 | 1345527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Henley CLO XI DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 13.85%, maturity 4/25/2039)<sup>(7),(8),(9),(10)</sup> | 2/10/2025 | 430000 | 425617 | 494628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**OCP Euro CLO 2022-6 DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 15.25%, maturity 1/20/2033)<sup>(7),(8),(9),(10)</sup> | 4/23/2024 | 625000 | 513412 | 573360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Sculptor European CLO XII DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 15.30%, maturity 1/15/2038)<sup>(7),(8),(9),(10)</sup> | 11/27/2024 | 1395000 | 1151210 | 1200377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total European Union - Various |  |  | 7018912 | 7173212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMMC CLO 28, Limited** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 14.12%, maturity 7/20/2037)<sup>(7),(8),(9)</sup> | 1/28/2025 | 3375000 | 2537828 | 2194837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ares LXV CLO LTD.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 17.83%, maturity 7/25/2034)<sup>(7),(8),(9)</sup> | 4/16/2024 | 1075000 | 667600 | 492896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ares LXIX CLO Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Note (effective yield 15.09%, maturity 4/15/2037)<sup>(7),(8),(9),(11)</sup> | 1/31/2024 | 2625000 | 1617146 | 1247335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ares LXXVI CLO Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Note (effective yield 16.30%, maturity 5/27/2038)<sup>(7),(8),(9),(11)</sup> | 4/14/2025 | 2100000 | 1451690 | 1458786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Bowling Green Park CLO, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 13.43%, maturity 4/18/2035)<sup>(7),(8),(9)</sup> | 2/15/2024 | 1075000 | 707211 | 581201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CIFC Funding 2017-V Ltd** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 7.49%, maturity 7/17/2037)<sup>(7),(8),(9)</sup> | 10/30/2024 | 1000000 | 450891 | 302778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CIFC Funding 2025-V, Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Note (effective yield 13.70%, maturity 10/15/2055)<sup>(7),(8),(9),(11)</sup> | 7/30/2025 | 3425000 | 2790498 | 2537175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Dryden 90 CLO, Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 12.16%, maturity 2/20/2035)<sup>(7),(8),(9),(11)</sup> | 4/09/2024 | 1450000 | 1291837 | 968685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Madison Park Funding XL-R, Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income Note (effective yield 14.06%, maturity 10/16/2038)<sup>(7),(8),(9)</sup> | 9/05/2025 | 2000000 | 1900000 | 1587008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Morgan Stanley Eaton Vance CLO 2023-19, Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Note (effective yield 21.44%, maturity 7/20/2036)<sup>(7),(8),(9)</sup> | 2/21/2024 | 2100000 | 1078772 | 1041537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total United States |  |  | 14493473 | 12412238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Collateralized Loan Obligation Equity** |  |  | 21512385 | 19585450 |
| **Equity Securities - 3.15% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Entertainment** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SI Tickets, Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Equity<sup>(7),(8),(12)</sup> | 8/25/2025 | 80000 | 235200 | 236800 |
| &nbsp;&nbsp;&nbsp;**Financial Services** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Delta Financial Holdings LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Equity<sup>(7),(8),(12),(13)</sup> | 10/01/2023 | 0 | 115 | 115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Delta Leasing SPV III, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Equity<sup>(7),(8),(12),(13)</sup> | 10/01/2023 | 4 | 2 | 124859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Franklin BSP Realty Trust, Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Equity | 9/17/2025 | 46710 | 497138 | 487653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Horizon Technology Finance Corporation** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Equity | 11/12/2025 | 460 | 3275 | 2916 |

---

![](fp0097804-1_01.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer/Investment<sup>(1)</sup>** | **Acquisition<br> Date<sup>(2)</sup>** | **Principal<br> Amount/<br> Shares** | **Cost** | **Fair Value<sup>(3)</sup>** |
| **Equity Securities - 3.15% of Net Assets (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Financial Services (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Opal SPV LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Equity<sup>(7),(8)</sup> | 2/25/2025 | 620 | $458733 | $357492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Trinity Capital Inc** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Equity | 4/07/2025 | 74896 | 1029101 | 1125687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Financial Services** |  |  | 1988364 | 2098722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Equity Securities** |  |  | 2223564 | 2335522 |
| **Loan Accumulation Facilities - 6.61% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Structured Finance** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**European Union - Various** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Steamboat LX Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan Accumulation Facility<sup>(7),(8),(10),(14)</sup> | 10/22/2025 | $1260250 | 1466385 | 1489268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Steamboat LVI Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan Accumulation Facility<sup>(7),(8),(14)</sup> | 5/27/2025 | 1151750 | 1151750 | 1157905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Steamboat LIX Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan Accumulation Facility<sup>(7),(8),(14)</sup> | 6/23/2025 | 1681375 | 1681375 | 1702423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Steamboat LXII Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan Accumulation Facility<sup>(7),(8),(14)</sup> | 10/08/2025 | 253375 | 253375 | 251865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Steamboat LXIII Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan Accumulation Facility<sup>(7),(8),(14)</sup> | 12/17/2025 | 302500 | 302500 | 302500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total United States |  |  | 3389000 | 3414693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Loan Accumulation Facilities** |  |  | 4855385 | 4903961 |
| **Loans and Notes - 42.19% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Entertainment** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SI Tickets, Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Loan, 10.00% (due 8/30/2026)<sup>(7),(8),(15)</sup> | 11/12/2025 | 182357 | 182357 | 185458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SI Tickets, Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Loan, 10.00% (CD 1M SOFR + 5.75%, due 8/28/2028)<sup>(6),(7),(8)</sup> | 8/25/2025 | 1150813 | 930630 | 1105931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SI Tickets, Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Loan, 10.00% (CD 1M SOFR + 5.75%, due 8/28/2028)<sup>(6),(7),(8)</sup> | 8/25/2025 | 860599 | 823197 | 827035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Entertainment** |  |  | 1936184 | 2118424 |
| &nbsp;&nbsp;&nbsp;**Financial Services** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**European Union – Various** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Delta Leasing SPV III, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Note, 13.00% (due 7/18/2030)<sup>(7),(8),(10),(13),(15),(16)</sup> | 10/01/2023 | 2399006 | 2399238 | 2399318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Singapore** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**FinAccel Pte Ltd** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Class C Note, 15.00% (due 6/30/2026)<sup>(7),(8),(15)</sup> | 10/01/2023 | 1491335 | 1503773 | 1501774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B. Riley Financial, Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Unsecured Note, 5.50% (due 3/21/2026)<sup>(15)</sup> | 8/14/2025 | 17607 | 421249 | 430403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**BSD Capital Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Unsecured Note, 6.62% (3M SOFR + 2.66%, due 10/31/2027)<sup>(6),(7),(8)</sup> | 1/16/2025 | 1341000 | 1181313 | 1227015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Horizon Technology Finance Corporation** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible Senior Unsecured Notes, 5.50% (due 9/4/2030)<sup>(7),(8),(15)</sup> | 9/04/2025 | 785720 | 722557 | 758613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Opal SPV LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Term Loan, 14.00% (due 2/4/2030)<sup>(7),(8),(15)</sup> | 2/14/2025 | 3386655 | 2979084 | 3122496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pasadena Private Lending, Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Loan, 13.44% (3M SOFR + 9.75%, due 1/31/2031)<sup>(6),(7),(8)</sup> | 12/18/2025 | 489500 | 465113 | 465025 |

---

![](fp0097804-1_01.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer/Investment<sup>(1)</sup>** | **Acquisition<br> Date<sup>(2)</sup>** | **Principal<br> Amount/<br> Shares** | **Cost** | **Fair Value<sup>(3)</sup>** |
| **Loans and Notes - 42.19% of Net Assets (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Financial Services (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ready Capital Corporation** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Unsecured Note, 5.50% (due 12/30/2028)<sup>(8),(15)</sup> | 12/19/2025 $| 400000 | $316611 | $315218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ready Capital Corporation** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Unsecured Note, 9.00% (due 12/15/2029)<sup>(15)</sup> | 12/03/2024 | 15683 | 392038 | 329500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ready Term Holdings, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Loan, 9.34% (3M SOFR + 5.5%, due 4/12/2029)<sup>(6),(7),(8)</sup> | 4/10/2024 | 2250000 | 2209733 | 2087775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total United States |  |  | 8687698 | 8736045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Financial Services** |  |  | 12590709 | 12637137 |
| &nbsp;&nbsp;&nbsp;**Infrastructure** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cross Trails Energy Storage Project, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Loan, 10.20% (6M SOFR + 6.00%, due 7/23/2032)<sup>(6),(7),(8)</sup> | 7/28/2025 | 2806244 | 2772777 | 2772750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Heritage Energy Holdings, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Loan<sup>(7),(8)</sup> | 12/31/2025 | 1710000 | 1675800 | 1675800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Integrated Modular Data Centers, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Loan, 11.00% (due 10/19/2026)<sup>(7),(8),(15)</sup> | 9/22/2025 | 488797 | 488797 | 493196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Nexus Apex Holdings, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Loan, 14.67% (3M SOFR + 11%, due 12/4/2027)<sup>(6),(7),(8)</sup> | 12/01/2025 | 5138560 | 5038388 | 5215639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Infrastructure** |  |  | 9975762 | 10157385 |
| &nbsp;&nbsp;&nbsp;**Manufacturing** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**European Union - Various** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Footprint International Holdco Inc** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Term Loan, 14.75% (Prime + 7.25%, due 3/1/2027)<sup>(6),(7),(8),(10)</sup> | 10/01/2023 | 496641 | 499661 | 494605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Footprint International Holdco Inc** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Term Loan C, 14.75% (Prime + 7.25%, due 3/1/2027)<sup>(6),(7),(8)</sup> | 10/01/2023 | 545955 | 546243 | 543716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Manufacturing** |  |  | 1045904 | 1038321 |
| &nbsp;&nbsp;&nbsp;**Municipal** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**California Municipal Finance Authority** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A, 12.25% (due 12/15/2042)<sup>(7),(8),(15)</sup> | 4/03/2025 | 540541 | 520671 | 535784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**California Municipal Finance Authority** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A, 12.25% (due 12/15/2042)<sup>(7),(8),(15)</sup> | 4/03/2025 | 735135 | 715910 | 728666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**California Municipal Finance Authority** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A, 12.25% (due 12/15/2042)<sup>(7),(8),(15)</sup> | 4/03/2025 | 360360 | 347114 | 357189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**California Municipal Finance Authority** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A, 12.25% (due 12/15/2042)<sup>(7),(8),(15)</sup> | 4/28/2025 | 1693179 | 1693179 | 1678279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**California Municipal Finance Authority** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A, 12.25% (due 12/15/2042)<sup>(7),(8),(15)</sup> | 4/28/2025 | 130245 | 130245 | 129099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Municipal** |  |  | 3407119 | 3429017 |
| &nbsp;&nbsp;&nbsp;**Structured Finance** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CVC Structured Solutions 2, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Collateralized Fund Obligation Debt, Class C Loan, 12.43% (US CMT 5Y + 8.75%, due 9/3/2040)<sup>(6),(7),(8)</sup> | 9/02/2025 | 82450 | 71269 | 83906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Dawson Rated Fund 6-R2 LP** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Rated Feeder Fund Debt, Class C Loan, 12.68% (US CMT 3Y 5Y AVG + 9.15%, due 12/15/2034)<sup>(6),(7),(8)</sup> | 11/20/2024 | 1159147 | 1159147 | 1216735 |

---

![](fp0097804-1_01.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer/Investment<sup>(1)</sup>** | **Acquisition<br> Date<sup>(2)</sup>** | **Principal<br> Amount/<br> Shares** | **Cost** | **Fair Value<sup>(3)</sup>** |
| **Loans and Notes - 42.19% of Net Assets (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Structured Finance (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Glendower Capital Secondaries CFO, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Collateralized Fund Obligation Debt, Class B Loan, 11.50% (due 7/13/2038)<sup>(7),(8),(15)</sup> | 10/01/2023 | $398429 | $397812 | $409392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Glendower Capital Secondaries CFO, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Secured Collateralized Fund Obligation Debt, Class C Loan, 14.50% (due 7/13/2038)<sup>(7),(8),(15)</sup> | 10/01/2023 | 182440 | 182084 | 188918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Structured Finance** |  |  | 1810312 | 1898951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Loans and Notes** |  |  | 30765990 | 31279235 |
| **Partnership Interests - 5.05% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Healthcare** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Frazier Healthcare Credit SPV II, L.P.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership Interest<sup>(7),(8)</sup> | 11/25/2024 | 1865625 | 1865625 | 2269066 |
| &nbsp;&nbsp;&nbsp;**Infrastructure** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Calistoga 2025 I LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership Interest<sup>(7),(8)</sup> | 6/23/2025 | 1181338 | 1181338 | 1324447 |
| &nbsp;&nbsp;&nbsp;**Structured Finance** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**European Union - Various** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ASPF Oceanus Co-Invest (Cayman), L.P.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Partnership Interests (effective yield 13.96%, maturity 1/5/2029)<sup>(7),(8),(10)</sup> | 1/30/2024 | 179713 | 69613 | 152933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Partnership Interests** |  |  | 3116576 | 3746446 |
| **Preferred Stocks - 5.31% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Financial Services** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adamas Trust Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Stock, Series F, 6.88%<sup>(15)</sup> | 9/17/2025 | 36430 | 811586 | 842116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Arbor Realty Trust Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Stock, Series F, 6.25%<sup>(15)</sup> | 4/10/2024 | 56939 | 1170707 | 1265754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Carlyle Credit Income Fund** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible Preferred Stock, Series 2030, 7.50% (due 1/31/2030)<sup>(7),(8)</sup> | 1/29/2025 | 1540 | 1432200 | 1471778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Delta Financial Holdings LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Units<sup>(7),(8),(13)</sup> | 10/01/2023 | 50 | 50600 | 50590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pasadena Private Lending, Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Convertible Preferred Stock, Class C-2, 10.00% (due 12/22/2031)<sup>(7),(8),(15)</sup> | 12/18/2025 | 1386 | 60984 | 60984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pasadena Private Lending, Inc.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred Stock, 10.00% (due 4/20/2031)<sup>(7),(8),(15)</sup> | 10/17/2025 | 245 | 245000 | 245000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Preferred Stocks** |  |  | 3771077 | 3936222 |
| **Rated Feeder Fund Equity - 0.38% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Structured Finance** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CVC Structured Solutions 2, LLC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated Loan (effective yield 28.30%, maturity 9/3/2040)<sup>(7),(8)</sup> | 9/02/2025 | 302436 | 302436 | 280855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Rated Feeder Fund Equity** |  |  | 302436 | 280855 |
| **Regulatory Capital Relief Securities - 38.59% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Banking** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**European Union - Various** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Banco Santander S.A., Ducati** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Linked Note, 11.03% (3M EURIBOR + 9.00%, due 6/20/2030)<sup>(6),(7),(8),(10)</sup> | 3/08/2024 | 439529 | 480690 | 523516 |

---

![](fp0097804-1_01.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer/Investment<sup>(1)</sup>** | **Acquisition<br> Date<sup>(2)</sup>** | **Principal<br> Amount/<br> Shares** | **Cost** | **Fair Value<sup>(3)</sup>** |
| **Regulatory Capital Relief Securities - 38.59% of Net Assets (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Banking (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**European Union - Various (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**BNP Paribas, Echo 1** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Linked Note, 10.03% (3M EURIBOR + 8.00%, due 9/26/2031)<sup>(6),(7),(8),(10)</sup> | 9/18/2024 | 1036275 | $1150944 | $1240505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Deutsche Bank AG, GATE 2025-1** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Linked Note, 11.44% (3M EURIBOR + 9.50%, due 10/25/2035)<sup>(6),(7),(8),(10)</sup> | 4/07/2025 | 2900000 | 3166215 | 3412724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Deutsche Bank AG, TRAFIN 2023-1** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Linked Note, 13.75% (CD 3M SOFR + 10.00%, due 6/1/2029)<sup>(6),(7),(8),(10)</sup> | 11/27/2023 | 1125000 | 1125000 | 1152188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**FCT Junon 2023** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class AR Note, 9.58% (3M EURIBOR + 7.60%, due 5/9/2033)<sup>(6),(7),(8),(10)</sup> | 3/10/2025 | 2500000 | 2708119 | 2953174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Granville USD Ltd., 2023-1** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class E2 Note, 14.01% (1D US SOFR + 9.75%, due 7/31/2031)<sup>(6),(7),(8),(10)</sup> | 10/01/2023 | 1700000 | 1701581 | 1732679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Manitoulin USD Ltd., Algonquin Series 2023-1** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class E Note, 14.51% (CD 3M SOFR + 10.25%, due 11/1/2028)<sup>(6),(7),(8),(10)</sup> | 10/16/2023 | 2211010 | 2211010 | 2158311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pomona Finance Limited** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Linked Note, 17.79% (ESTR + 15.00%, due 9/29/2033)<sup>(6),(7),(8),(10)</sup> | 10/01/2023 | 1794809 | 1891876 | 2117530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Standard Chartered Bank, Chakra 9** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class B Note, 15.07% (CD 3M SOFR + 10.75%, due 4/19/2033)<sup>(6),(7),(8),(10)</sup> | 4/05/2024 | 744000 | 744000 | 767326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total European Union - Various |  |  | 15179435 | 16057953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**France** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**BNP Paribas, Marianne** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Linked Note, 11.53% (3M EURIBOR + 9.50%, due 10/12/2032)<sup>(6),(7),(8)</sup> | 10/01/2023 | 847082 | 895577 | 1004673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ireland** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Setanta Finance 2024 DAC** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class B Note, 9.73% (3M EURIBOR + 7.75%, due 1/28/2033)<sup>(6),(7),(8)</sup> | 11/08/2024 | 1742151 | 1867417 | 2053550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Italy** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Cassini SPV S.r.l.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Linked Note, 9.98% (3M EURIBOR + 8.00%, due 8/8/2036)<sup>(6),(7),(8)</sup> | 6/26/2025 | 1171137 | 1370986 | 1377466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Gregory SPV S.r.l** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Linked Note, 9.77% (3M EURIBOR + 7.75%, due 9/30/2045)<sup>(6),(7),(8)</sup> | 3/24/2025 | 2865681 | 3095524 | 3374031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Italy |  |  | 4466510 | 4751497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**BNP Paribas, Broadway 1** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Linked Note, 12.21% (CD 3M SOFR + 8.00%, due 4/12/2031)<sup>(6),(7),(8)</sup> | 3/15/2024 | 626203 | 626203 | 629655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Deutsche Bank AG, LOFT 2022-1** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Class C Note, 23.35% (CD 3M SOFR + 19.00%, due 2/28/2032)<sup>(6),(7),(8)</sup> | 10/01/2023 | 2930387 | 2776891 | 3072750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Manitoulin USD Ltd.** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guarantee Linked Note, 14.64% (CD 3M SOFR + 10.38%, due 4/20/2034)<sup>(6),(7),(8)</sup> | 9/08/2025 | 1038000 | 1038000 | 1040794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total United States |  |  | 4441094 | 4743199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Regulatory Capital Relief Securities** |  |  | 26850033 | 28610872 |
| **Warrants - 0.38% of Net Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Financial Services** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Singapore** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**FinAccel Pte Ltd** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity Warrant (Expiration 03/12/2029)<sup>(7),(8),(12)</sup> | 10/01/2023 | 1874 | 35437 | 68330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**FinAccel Pte Ltd** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity Warrant (Expiration 06/30/2030)<sup>(7),(8),(12),(16)</sup> | 10/01/2023 | 4342 | 169061 | 215016 |

---

![](fp0097804-1_01.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer/Investment<sup>(1)</sup>** | **Acquisition<br> Date<sup>(2)</sup>** | **Principal<br> Amount/<br> Shares** | **Cost** | **Fair Value<sup>(3)</sup>** |
| **Warrants - 0.38% of Net Assets (continued)** |  |  | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Financial Services** |  |  | $204498 | $283346 |
| **Manufacturing** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**United States** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Footprint International Holdco Inc** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity Warrant (Expiration 03/01/2027)<sup>(7),(8),(12)</sup> | 10/01/2023 | 4009 | 3789 | 220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Warrants** |  |  | 208287 | 283566 |
| **Total investments at fair value as of December 31, 2025** |  |  | **113300855** | **114359384** |
| **Net assets above (below) fair value of investments** |  |  |  | **(40217065)** |
| **Net assets as of December 31, 2025** |  |  |  | $**74142319** |

---

*<sup>(1)</sup>* *Unless otherwise noted, the Trust is not affiliated with, nor does it "control" (as such term is defined in the Investment Company Act of 1940 (the "1940 Act")), any of the issuers listed. In general, under the 1940 Act, the Trust would be presumed to "control" an issuer if it owned 25% or more of its voting securities.*

*<sup>(2)</sup>* *Acquisition date represents the initial of purchase or the date the investment was acquired by the Trust.*

*<sup>(3)</sup>* *Fair value is determined by the Adviser in accordance with written valuation policies and procedures, subject to oversight by the Trust's Board of Directors, in accordance with Rule 2a-5 under the 1940 Act.*

*<sup>(4)</sup>* *Country represents the principal country of risk where the investment has exposure.*

*<sup>(5)</sup>* *Pursuant to the terms of the credit facility agreement, a security interest in favor of the lender has been granted with respect to all investments.*

*<sup>(6)</sup>* *Variable rate investment. Interest rate shown reflects the rate in effect at the reporting date. Investment description includes the reference rate and spread.*

*<sup>(7)</sup>* *Classified as Level III investment.*

*<sup>(8)</sup>* *Securities exempt from registration under the Securities Act of 1933, and are deemed to be "restricted securities". As of December 31, 2025, the aggregate fair value of these securities is $109.8 million, or 148.07% of the Fund's net assets.*

*<sup>(9)</sup>* *Collateralized Loan Obligation ("CLO") Equity, Collateralized Fund Obligation Equity and certain other investments are entitled to recurring distributions which are generally equal to the remaining cash flow of payments made by underlying assets less contractual payments to debt holders and fund expenses. The effective yield is estimated based on the current projection of the amount and timing of these recurring distributions in addition to the estimated amount of terminal principal payment. The effective yield and investment cost may ultimately not be realized.*

*<sup>(10)</sup>* *Investment principal amount is denominated in EUR.*

*<sup>(11)</sup>* *Fair value includes the Fund's interest in fee rebates on CLO subordinated and income notes.*

*<sup>(12)</sup>* *Non-income producing security.*

*<sup>(13)</sup>* *The following investment is an affiliated investment as defined under the 1940 act, which represents investments in which the Trust owns 5% or more of the outstanding voting securities under common ownership or control.*

 

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***ISSUER*** | ***Investment Description*** | ***Fair Value*** | ***Fund<br> Commitment*** | ***Unfunded<br> Commitment*** |
| *Delta Leasing SPV III, LLC* | *Senior Secured Note, 13.00% (due 7/18/2030)* | $*2399318* | $*2399238* | $*1043346* |
| *Delta Financial Holdings LLC* | *Common Units* | *115* | *115* | *–* |
| *Delta Financial Holdings LLC* | *Preferred Units* | $*50590* | *50600* | *–* |
| *Delta Leasing SPV III, LLC* | *Common Equity* | *124859* | *2* | *–* |
|  |  | $*2583882* | $*2449955* | $*1043346* |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(14)* *Loan accumulation facilities are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(15)* *Fixed rate investment.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(16)* *As of December 31, 2025, the investment includes interest income capitalized as additional investment principal, referred to as "PIK" interest. The PIK interest rate represents the interest rate at payment date when PIK interest is received.* 

 ****

***Reference Keys:***

*CD- Compounded Daily*

*ESTR- Euro Short-Term Rate*

*EUR- Euro*

*EURIBOR- Euro London Interbank Offered Rate*

*Prime- Prime Lending Rate*

*SOFR- Secured Overnight Financing Rate*

*US CMT- U.S. Constant Maturity Treasury Yield*

![](fp0097804-1_01.jpg)

 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CURRENCY PURCHASED** | **CURRENCY PURCHASED** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Acquisition<br> Date** | **Settlement <br> Date** | **Fair Value** |
| **Unrealized appreciation on forward currency contracts** | **Unrealized appreciation on forward currency contracts** | **Unrealized appreciation on forward currency contracts** | **Unrealized appreciation on forward currency contracts** | **Unrealized appreciation on forward currency contracts** |  |  |  |
| EUR | 125820 | USD | 148086 | Barclays Bank PLC | 12/30/2025 | 01/30/2026 | $42 |
|  |  |  |  |  |  |  | $42 |
| **Unrealized depreciation on forward currency contracts** | **Unrealized depreciation on forward currency contracts** | **Unrealized depreciation on forward currency contracts** | **Unrealized depreciation on forward currency contracts** | **Unrealized depreciation on forward currency contracts** |  |  |  |
| EUR | 23326807 | USD | 27351835 | Barclays Bank PLC | 10/30/2025 | 01/30/2026 | $(95320) |
| EUR | 328970 | USD | 383390 | Barclays Bank PLC | 11/19/2025 | 01/30/2026 | (3688) |
| EUR | 450766 | USD | 524398 | Barclays Bank PLC | 12/02/2025 | 01/30/2026 | (5989) |
| EUR | 26750 | USD | 31322 | Barclays Bank PLC | 12/05/2025 | 01/30/2026 | (153) |
| EUR | 170000 | USD | 198361 | Barclays Bank PLC | 12/10/2025 | 01/30/2026 | (1667) |
|  |  |  |  |  |  |  | $(106817) |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Eagle Point Enhanced Income Trust

- **b. Investment Company Act file number:** 811-23909

- **c. CIK number of Registrant:** 0001992148

- **d. LEI of Registrant:** 254900X2NX42WZSOAZ97

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

  - **Street Address 1:** 600 Steamboat Road Suite 202

  - **City:** Greenwich

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06830

  - **Telephone number:** 2033408500

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

- **a. Name of Series:** Eagle Point Enhanced Income Trust

- **c. LEI of Series:** 254900X2NX42WZSOAZ97

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

- **a. Date of fiscal year-end:** 2026-09-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $152850997.22

**Total Liabilities:** $78708678.44

**Net Assets:** $74142318.78

**Delayed Delivery Securities:** $42861025.58

**Cash Not Reported:** $7039644.10

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** -999.41000000 | **5-Year:** -1072.23000000 | **10-Year:** 0.00000000 | **30-Year:** -257.36000000

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

- **3-Month:** 0.00000000 | **1-Year:** -1779.39000000 | **5-Year:** -12053.79000000 | **10-Year:** -34511.87000000 | **30-Year:** -12381.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A |  | -0.78%               | 1.30%                |
| Class ID N/A |  | -0.79%               | 1.29%                |
| Class ID N/A |  | -0.61%               | 1.27%                |
| Class ID N/A |  | -0.63%               | 1.35%                |
| Class ID N/A | -0.40%               | -0.61%               | 1.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $50580.55                | $-1490894.31                               |
| Month 2  | $-247745.33              | $-951149.90                                |
| Month 3  | $105467.48               | $353789.12                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Pasadena Private Lending, Inc.                       | Convertible Preferred Stock, Class C-2                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      1386 | NS      | $60984.00     | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Delta Financial Holdings LLC                         | Common Units                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         0 | NS      | $115.00       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Ares LXIX CLO Ltd.                                   | Income Note                                                                     | CUSIP: 04020KAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JE        |   2625000 | PA      | $1247335.60   | 1.68%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BNP Paribas, Marianne                                | Credit Linked Note                                                              | CUSIP: BCC3C9V07<br>LEI: N/A                  | Long             | ABS-O            | CORP              | FR        |    847082 | PA      | $1004672.46   | 1.36%             | 2032-10-12      | Floating      | 11.53%                | Yes           |                  3 | On Loan: No      |
| Carmax Select Receivables Trust 2025-B               | Class R Note                                                                    | CUSIP: 14320BAH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1612 | PA      | $1116137.85   | 1.51%             | 2032-09-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Delta Leasing SPV III, LLC                           | Senior Secured Note                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   2391279 | PA      | $2391589.92   | 3.23%             | 2030-07-18      | Fixed         | 13.00%                | Yes           |                  3 | On Loan: No      |
| Ready Term Holdings, LLC                             | Senior Secured Loan                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2250000 | PA      | $2087775.00   | 2.82%             | 2029-04-12      | Floating      | 9.34%                 | Yes           |                  3 | On Loan: No      |
| AMMC CLO 28, Limited                                 | Subordinated Note                                                               | CUSIP: 03166JAC6<br>LEI: 254900FC26PFUHBI9J88 | Long             | ABS-O            | CORP              | KY        |   3375000 | PA      | $2194836.56   | 2.96%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Madison Park Funding XL-R, Ltd.                      | Income Note                                                                     | CUSIP: 55822QAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   2000000 | PA      | $1587007.81   | 2.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Footprint International Holdco Inc                   | Senior Secured Term Loan                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    496641 | PA      | $494605.05    | 0.67%             | 2027-03-01      | Floating      | 14.75%                | Yes           |                  3 | On Loan: No      |
| Coller Private Equity Backed Notes & Loans II-A L.P. | Preferred Equity                                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | US        |   1832130 | PA      | $1723044.81   | 2.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Dryden 90 CLO, Ltd.                                  | Subordinated Note                                                               | CUSIP: 26251KAC0<br>LEI: 549300BLIFMJ8T7AGX24 | Long             | ABS-O            | CORP              | KY        |   1450000 | PA      | $968685.38    | 1.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Pomona Finance Limited                               | Credit Linked Note                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | JE        |   1794809 | PA      | $2117529.86   | 2.86%             | 2033-09-29      | Floating      | 16.93%                | Yes           |                  3 | On Loan: No      |
| SI Tickets, Inc.                                     | Common Equity                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     80000 | NS      | $236800.00    | 0.32%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Calistoga 2025 I LLC                                 | Partnership Interest                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   1181338 | NS      | $1324446.62   | 1.79%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Nexus Apex Holdings, LLC                             | Senior Secured Loan                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5138560 | PA      | $5215638.40   | 7.03%             | 2027-12-04      | Floating      | 14.72%                | Yes           |                  3 | On Loan: No      |
| CVC Structured Solutions 2, LLC                      | Subordinated Loan                                                               | CUSIP: 12690K105<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    302436 | PA      | $280855.11    | 0.38%             | 2040-09-03      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Steamboat LX Ltd.                                    | Loan Accumulation Facility                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | IE        |   1260250 | PA      | $1489268.12   | 2.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Pasadena Private Lending, Inc.                       | Senior Secured Loan                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    489500 | PA      | $465025.00    | 0.63%             | 2031-01-31      | Floating      | 13.44%                | Yes           |                  3 | On Loan: No      |
| Granville USD Ltd., 2023-1                           | Class E2 Note                                                                   | CUSIP: BCC3BR9K9<br>LEI: 254900IYVE92LZDFP560 | Long             | ABS-O            | CORP              | CA        |   1700000 | PA      | $1732679.10   | 2.34%             | 2031-07-31      | Floating      | 14.01%                | Yes           |                  3 | On Loan: No      |
| Ready Capital Corporation                            | Senior Unsecured Note                                                           | CUSIP: 75574U838<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |     15683 | NS      | $329499.83    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SI Tickets, Inc.                                     | Senior Secured Loan                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1150813 | PA      | $1105931.25   | 1.49%             | 2028-08-28      | Floating      | 10.00%                | Yes           |                  3 | On Loan: No      |
| Ares LXV CLO LTD.                                    | Subordinated Note                                                               | CUSIP: 04019GAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   1075000 | PA      | $492895.52    | 0.66%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Carlyle Credit Income Fund                           | Convertible Preferred Stock, Series 2030                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      1540 | NS      | $1471778.00   | 1.99%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BSD Capital Inc.                                     | Senior Unsecured Note                                                           | CUSIP: 05603CAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1341000 | PA      | $1227015.00   | 1.65%             | 2027-10-31      | Variable      | 6.62%                 | Yes           |                  3 | On Loan: No      |
| Trinity Capital Inc                                  | Common Equity                                                                   | CUSIP: 896442308<br>LEI: 549300YGT4SBRQYDVU48 | Long             | EC               | CORP              | US        |     74896 | NS      | $1125686.88   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Manitoulin USD Ltd., Quetico Series II               | Guarantee Linked Note                                                           | CUSIP: 316620230<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   1038000 | PA      | $1040794.30   | 1.40%             | 2034-04-20      | Floating      | 14.20%                | Yes           |                  3 | On Loan: No      |
| Dryden 125 Euro Clo 2024 DAC                         | Subordinated Note                                                               | CUSIP: BCC3PR106<br>LEI: 635400C4RISXMTOGWH69 | Long             | ABS-O            | CORP              | IE        |   1280000 | PA      | $1345526.74   | 1.81%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Pasadena Private Lending, Inc.                       | Warrants                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | US        |      3236 | NC      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Forward Contracts: EUR 01/30/2026                    | Forward Contract                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-5989.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Steamboat LVI Ltd.                                   | Loan Accumulation Facility                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | KY        |   1151750 | PA      | $1157905.37   | 1.56%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ASPF Oceanus Co-Invest (Cayman), L.P.                | Partnership Interest                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | KY        |    179713 | PA      | $152933.07    | 0.21%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIFC Funding 2017-V Ltd                              | Subordinated Note                                                               | CUSIP: 12551NAC1<br>LEI: 635400BTAKRBKGRV3X14 | Long             | ABS-O            | CORP              | KY        |   1000000 | PA      | $302778.05    | 0.41%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INTEGRATED MODULAR DATA CENTERS, LLC                 | Senior Secured Loan                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    484839 | PA      | $489202.12    | 0.66%             | 2026-10-19      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Manitoulin USD Ltd., Algonquin Series 2023-1         | Guarantee Linked Note - Class E                                                 | CUSIP: BCC3CBL29<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |   2211011 | PA      | $2158311.10   | 2.91%             | 2028-11-01      | Floating      | 14.51%                | Yes           |                  3 | On Loan: No      |
| Steamboat LXII Ltd.                                  | Loan Accumulation Facility                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | KY        |    253375 | PA      | $251864.40    | 0.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Deutsche Bank AG, LOFT 2022-1                        | Credit Linked Note - Class C                                                    | CUSIP: 25155KAY1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | DE        |   2930387 | PA      | $3072750.20   | 4.14%             | 2032-02-28      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Morgan Stanley Eaton Vance CLO 2023-19, Ltd.         | Subordinated Note                                                               | CUSIP: 617926AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   2100000 | PA      | $1041537.36   | 1.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Steamboat LIX Ltd.                                   | Loan Accumulation Facility                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | KY        |   1681375 | PA      | $1702423.39   | 2.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| California Municipal Finance Authority               | Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A | CUSIP: 130488AE9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    540541 | PA      | $535784.24    | 0.72%             | 2042-12-15      | Fixed         | 12.25%                | Yes           |                  3 | On Loan: No      |
| Steamboat LXIII Ltd.                                 | Loan Accumulation Facility                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | ABS-O            | CORP              | KY        |    302500 | PA      | $302500.00    | 0.41%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aurium CLO XIII DAC                                  | Subordinated Note                                                               | CUSIP: BCC3KFD20<br>LEI: 635400NUJFLZMWBUGF89 | Long             | ABS-O            | CORP              | IE        |    905000 | PA      | $918056.20    | 1.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Opal SPV LLC                                         | Common Units                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       620 | NS      | $357492.00    | 0.48%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Glendower Capital Secondaries CFO, LLC               | Subordinated Loan                                                               | CUSIP: 378654AG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    415896 | PA      | $378319.40    | 0.51%             | 2038-07-13      | Floating      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| RAD CLO 21, Ltd.                                     | Secured Note - Class E-1R                                                       | CUSIP: 750097AE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    225000 | PA      | $223580.61    | 0.30%             | 2037-01-25      | Floating      | 8.76%                 | Yes           |                  2 | On Loan: No      |
| FCT Noria 2023                                       | Class G Note                                                                    | CUSIP: BCC39ZZ66<br>LEI: 5493000E6Y1UIT6SE727 | Long             | ABS-O            | CORP              | FR        |   1205603 | PA      | $1311978.15   | 1.77%             | 2040-10-24      | Floating      | 14.39%                | Yes           |                  2 | On Loan: No      |
| BNP Paribas, Broadway 1                              | Credit Linked Note                                                              | CUSIP: BCC3F4637<br>LEI: N/A                  | Long             | ABS-O            | CORP              | FR        |    626203 | PA      | $629655.28    | 0.85%             | 2031-04-12      | Floating      | 11.98%                | Yes           |                  3 | On Loan: No      |
| Banco Santander S.A., Ducati                         | Credit Linked Note - Class A                                                    | CUSIP: XS2779782<br>LEI: N/A                  | Long             | ABS-O            | CORP              | ES        |    439529 | PA      | $523516.15    | 0.71%             | 2030-06-20      | Floating      | 11.03%                | Yes           |                  3 | On Loan: No      |
| Setanta Finance 2024 DAC                             | Class B Note                                                                    | CUSIP: XS2936127<br>LEI: N/A                  | Long             | ABS-O            | CORP              | IE        |   1742151 | PA      | $2053549.97   | 2.77%             | 2033-01-28      | Floating      | 9.73%                 | Yes           |                  3 | On Loan: No      |
| Cassini SPV S.r.l.                                   | Credit Linked Note                                                              | CUSIP: ASSET7837<br>LEI: N/A                  | Long             | ABS-O            | CORP              | IT        |   1171138 | PA      | $1377465.64   | 1.86%             | 2036-08-08      | Floating      | 9.98%                 | Yes           |                  3 | On Loan: No      |
| ALP CFO 2025, L.P.                                   | Subordinated Note                                                               | CUSIP: 020529AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3250000 | PA      | $3252635.04   | 4.39%             | 2037-07-15      | Variable      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| FCT Junon 2023                                       | Class AR Note                                                                   | CUSIP: BCC3LCBC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | FR        |   2500000 | PA      | $2953174.21   | 3.98%             | 2033-05-09      | Floating      | 9.60%                 | Yes           |                  3 | On Loan: No      |
| Delta Financial Holdings LLC                         | Preferred Units                                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        51 | NS      | $50589.60     | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PenFed Auto Receivables Owner Trust 2025-A           | Class R Note                                                                    | CUSIP: 706917AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5250 | PA      | $766388.69    | 1.03%             | 2033-10-17      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust 2025-N1               | Class EX5 Note                                                                  | CUSIP: 14688XAN7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3571 | PA      | $948014.25    | 1.28%             | 2032-08-10      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Forward Contracts: EUR 01/30/2026                    | Forward Contract                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-95320.00    | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| Forward Contracts: EUR 01/30/2026                    | Forward Contract                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-3688.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Pasadena Private Lending, Inc.                       | Common Equity, Class A-2                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1386 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Horizon Technology Finance Corporation               | Common Equity                                                                   | CUSIP: 44045A102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       460 | NS      | $2916.40      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Adamas Trust Inc.                                    | Preferred Stock, Series F                                                       | CUSIP: 649604865<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |     36430 | NS      | $842115.88    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Bowling Green Park CLO, LLC                          | Subordinated Note                                                               | CUSIP: 00871QAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   1075000 | PA      | $581201.18    | 0.78%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SI Tickets, Inc.                                     | Senior Secured Loan                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    182357 | PA      | $185457.47    | 0.25%             | 2026-08-30      | Floating      | 10.00%                | Yes           |                  3 | On Loan: No      |
| Forward Contracts: EUR 01/30/2026                    | Forward Contract                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $42.00        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas, Echo 1                                  | Credit Linked Note                                                              | CUSIP: BCC3HKVT4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | FR        |   1036275 | PA      | $1240505.22   | 1.67%             | 2031-09-26      | Floating      | 10.03%                | Yes           |                  3 | On Loan: No      |
| FinAccel Pte Ltd                                     | FinAccel C Note PIK Warrants                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | SG        |      4342 | NC      | $215015.84    | 0.29%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Henley CLO XI DAC                                    | Subordinated Note                                                               | CUSIP: BCC3KSQW2<br>LEI: 6354004ZEQIYPXESRG76 | Long             | ABS-O            | CORP              | IE        |    430000 | PA      | $494627.60    | 0.67%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Glendower Capital Secondaries CFO, LLC               | Senior Secured CFO Debt, Class B Loan                                           | CUSIP: 378654AC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    398429 | PA      | $409392.53    | 0.55%             | 2038-07-13      | Fixed         | 11.50%                | Yes           |                  3 | On Loan: No      |
| California Municipal Finance Authority               | Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A | CUSIP: 130488AF6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    735135 | PA      | $728665.81    | 0.98%             | 2042-12-15      | Fixed         | 12.25%                | Yes           |                  3 | On Loan: No      |
| Carvana Auto Receivables Trust 2025-P3               | Class R Note                                                                    | CUSIP: 14688AAK3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4850 | PA      | $3249624.86   | 4.38%             | 2033-09-12      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Allegany Park CLO, Ltd.                              | Secured Note - Class E-R-R                                                      | CUSIP: 01714PAL3<br>LEI: 549300D5KL0IVFLIND32 | Long             | ABS-CBDO         | CORP              | KY        |    150000 | PA      | $145631.06    | 0.20%             | 2035-01-20      | Floating      | 10.28%                | Yes           |                  2 | On Loan: No      |
| Forward Contracts: EUR 01/30/2026                    | Forward Contract                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1667.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG, TRAFIN 2023-1                      | Credit Linked Note - Class A                                                    | CUSIP: 251525BA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | DE        |   1125000 | PA      | $1152188.21   | 1.55%             | 2029-06-01      | Floating      | 13.75%                | Yes           |                  3 | On Loan: No      |
| Delta Leasing SPV III, LLC                           | Common Equity                                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         4 | NS      | $124859.19    | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| B. Riley Financial, Inc.                             | Senior Unsecured Note                                                           | CUSIP: 05580M827<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |     17607 | NS      | $430403.12    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Sculptor European CLO XII DAC                        | Subordinated Note                                                               | CUSIP: BCC3JP743<br>LEI: 635400KACXXM4HB1LP40 | Long             | ABS-O            | CORP              | IE        |   1395000 | PA      | $1200377.45   | 1.62%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Footprint International Holdco Inc                   | Senior Secured Term Loan C                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    545955 | PA      | $543716.24    | 0.73%             | 2027-03-01      | Floating      | 14.75%                | Yes           |                  3 | On Loan: No      |
| Deutsche Bank AG, GATE 2025-1                        | Credit Linked Note                                                              | CUSIP: BCC3LQKD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | DE        |   2900000 | PA      | $3412723.56   | 4.60%             | 2035-10-25      | Floating      | 11.44%                | Yes           |                  3 | On Loan: No      |
| Ares LXXVI CLO Ltd.                                  | Income Note                                                                     | CUSIP: 039958AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   2100000 | PA      | $1458786.54   | 1.97%             |  |  |  | Yes           |                  3 | On Loan: No      |
| California Municipal Finance Authority               | Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A | CUSIP: 130488AK5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    130245 | PA      | $129098.84    | 0.17%             | 2042-12-15      | Fixed         | 12.25%                | Yes           |                  3 | On Loan: No      |
| Pasadena Private Lending, Inc.                       | Preferred Stock, Class D                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       245 | NS      | $245000.00    | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Forward Contracts: EUR 01/30/2026                    | Forward Contract                                                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-153.00      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority               | Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A | CUSIP: 130488AJ8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1693179 | PA      | $1678279.02   | 2.26%             | 2042-12-15      | Fixed         | 12.25%                | Yes           |                  3 | On Loan: No      |
| VCP RRL ABS IV LLC                                   | Class C Note                                                                    | CUSIP: 91825NAJ0<br>LEI: 254900IL0Y4FJA2T1M42 | Long             | ABS-O            | CORP              | US        |   2090977 | PA      | $2091576.53   | 2.82%             | 2035-04-20      | Floating      | 11.28%                | Yes           |                  2 | On Loan: No      |
| Glendower Capital Secondaries CFO, LLC               | Senior Secured CFO Debt, Class C Loan                                           | CUSIP: 378654AE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    182440 | PA      | $188917.84    | 0.25%             | 2038-07-13      | Fixed         | 14.50%                | Yes           |                  3 | On Loan: No      |
| Aqueduct European CLO 5-2020 DAC                     | Class M-2 Note                                                                  | CUSIP: BCC2P4K24<br>LEI: 549300FPTK2DTC747F81 | Long             | ABS-O            | CORP              | IE        |    973000 | PA      | $626510.17    | 0.85%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FinAccel Pte Ltd                                     | Senior Secured Loan, Class C Note                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | SG        |   1491335 | PA      | $1501774.35   | 2.03%             | 2026-06-30      | Fixed         | 15.00%                | Yes           |                  3 | On Loan: No      |
| OCP Euro CLO 2022-6 DAC                              | Subordinated Note                                                               | CUSIP: BCC38F2G5<br>LEI: 635400KHBQOJVEDAGW16 | Long             | ABS-O            | CORP              | IE        |    625000 | PA      | $573359.68    | 0.77%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ALP CFO 2024, L.P.                                   | Subordinated Note                                                               | CUSIP: 00165VAG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   2036000 | PA      | $1922855.37   | 2.59%             | 2036-10-15      | Variable      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Opal SPV LLC                                         | Senior Secured Term Loan                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   3386655 | PA      | $3122495.74   | 4.21%             | 2030-02-04      | Fixed         | 14.00%                | Yes           |                  3 | On Loan: No      |
| Standard Chartered Bank, Chakra 9                    | Class B Note                                                                    | CUSIP: 778926691<br>LEI: N/A                  | Long             | ABS-O            | CORP              | GB        |    744000 | PA      | $767326.04    | 1.03%             | 2033-04-19      | Floating      | 15.07%                | Yes           |                  3 | On Loan: No      |
| Aqueduct European CLO 5-2020 DAC                     | Class M-1 Note                                                                  | CUSIP: BCC2P4K16<br>LEI: 549300FPTK2DTC747F81 | Long             | ABS-O            | CORP              | IE        |    962000 | PA      | $606621.80    | 0.82%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Gregory SPV S.r.l                                    | Credit Linked Note                                                              | CUSIP: ASSET7439<br>LEI: N/A                  | Long             | ABS-O            | CORP              | IT        |   2865681 | PA      | $3374030.56   | 4.55%             | 2045-09-30      | Floating      | 9.77%                 | Yes           |                  3 | On Loan: No      |
| CIFC Funding 2025-V, Ltd.                            | Income Note                                                                     | CUSIP: 12575TAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   3425000 | PA      | $2537174.96   | 3.42%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cross Trails Energy Storage Project, LLC             | Senior Secured Loan                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2806244 | PA      | $2772749.99   | 3.74%             | 2032-07-23      | Floating      | 10.20%                | Yes           |                  3 | On Loan: No      |
| Horizon Technology Finance Corporation               | Convertible Senior Unsecured Note                                               | CUSIP: HRZNCNVP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    785720 | PA      | $758612.66    | 1.02%             | 2030-09-04      | Fixed         | 5.50%                 | Yes           |                  3 | On Loan: No      |
| Arbor Realty Trust Inc.                              | Preferred Stock, Series F                                                       | CUSIP: 038923850<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     56939 | NS      | $1265753.97   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin BSP Realty Trust, Inc.                      | Common Equity                                                                   | CUSIP: 35243J101<br>LEI: 549300LH3QNZK9Y1KC93 | Long             | EC               | CORP              | US        |     46710 | NS      | $487652.40    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SI Tickets, Inc.                                     | Senior Secured Loan                                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    860599 | PA      | $827035.23    | 1.12%             | 2028-08-28      | Fixed         | 10.00%                | Yes           |                  3 | On Loan: No      |
| California Municipal Finance Authority               | Environmental Improvement Revenue Bonds (Aymium Williams Project), Series 2022A | CUSIP: 130488AH2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    360360 | PA      | $357188.83    | 0.48%             | 2042-12-15      | Fixed         | 12.25%                | Yes           |                  3 | On Loan: No      |
| Blackrock European CLO XV DAC                        | Subordinated Note                                                               | CUSIP: BCC3JQ964<br>LEI: 635400IJBX53XCPMHB27 | Long             | ABS-O            | CORP              | IE        |    810000 | PA      | $743246.84    | 1.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cross Trails Energy Storage Project, LLC             | Senior Secured Note                                                             | CUSIP: N/A<br>LEI: N/A                        | Short            | LON              | CORP              | US        |  -2103947 | PA      | $-2103946.65  | -2.84%            | 2032-07-23      | Floating      | 7.27%                 | No            |                  3 | On Loan: No      |
| Footprint International Holdco Inc                   | Warrants                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | US        |      4009 | NC      | $220.50       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KKR CLO 16 Ltd.                                      | Secured Note - Class D-R2                                                       | CUSIP: BCC32BJP2<br>LEI: 254900VCKMCY079T6M57 | Long             | ABS-O            | CORP              | KY        |   1200000 | PA      | $1151472.72   | 1.55%             | 2034-10-20      | Floating      | 11.26%                | Yes           |                  2 | On Loan: No      |
| CVC Structured Solutions 2, LLC                      | Senior Secured CFO Debt, Class C Loan                                           | CUSIP: 12690KAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     82449 | PA      | $83906.21     | 0.11%             | 2040-09-03      | Fixed         | 12.50%                | Yes           |                  3 | On Loan: No      |
| Ready Capital Corporation                            | Senior Unsecured Note                                                           | CUSIP: 75574UAB7<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | DBT              | CORP              | US        |    400000 | PA      | $315217.88    | 0.43%             | 2028-12-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| FinAccel Pte Ltd                                     | FinAccel C Note Warrants                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | SG        |      1874 | NC      | $68329.98     | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Dawson Rated Fund 6-R2 LP                            | Senior Secured Rated Feeder Fund Debt, Class C Loan                             | CUSIP: 23942LAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1159147 | PA      | $1216734.68   | 1.64%             | 2034-12-15      | Floating      | 12.68%                | Yes           |                  3 | On Loan: No      |
| Carvana Auto Receivables Trust 2024-P4               | Class R Note                                                                    | CUSIP: 14076LAK9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2937 | PA      | $1115996.02   | 1.51%             | 2032-12-10      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Avoca CLO XXXI DAC                                   | Subordinated Note                                                               | CUSIP: BCC3GV7T8<br>LEI: 254900A0IMPMIXP8BN96 | Long             | ABS-O            | CORP              | IE        |    820000 | PA      | $664884.89    | 0.90%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Frazier Healthcare Credit SPV II, L.P.               | Partnership Interest                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   1865625 | NS      | $2269066.41   | 3.06%             |  |  |  | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Eagle Point Enhanced Income Trust

**Signature:** Thomas P. Majewski

**Name of Signer:** Thomas P. Majewski

**Title:** Chief Executive Officer