# EDGAR Filing Document

**Accession Number:** 0001568194
**File Stem:** 0001410368-25-029751
**Filing Date:** 2025-11
**Character Count:** 107120
**Document Hash:** 1ec287f40d4ad833659398e3d11806b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-029751.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001410368-25-029751

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FS Credit Opportunities Corp.
- **CENTRAL INDEX KEY:** 0001568194

**ORGANIZATION NAME:**
- **EIN:** 461882356
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22802
- **FILM NUMBER:** 251513093

**BUSINESS ADDRESS:**
- **STREET 1:** 201 ROUSE BOULEVARD
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19112
- **BUSINESS PHONE:** 215-495-1150

**MAIL ADDRESS:**
- **STREET 1:** 201 ROUSE BOULEVARD
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FS Global Credit Opportunities Fund
- **DATE OF NAME CHANGE:** 20130130

## Nport-Ex

**FS Credit Opportunities Corp.**

**Unaudited Consolidated Schedule of Investments**

As of September 30, 2025 (in thousands, except share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Maturity** | **Principal Amount**<sup>(c)</sup> | **Amortized Cost** | **Fair Value**<sup>(d)</sup> |
| **Senior Secured Loans—First Lien—96.5%** | **Senior Secured Loans—First Lien—96.5%** | **Senior Secured Loans—First Lien—96.5%** | | | | | | |
| &nbsp;&nbsp;&nbsp;545/350 Lago Mar East Development, Ltd. | (l) | Real Estate Management & Development | 14.5% PIK (14.5% Max PIK) |  | 8/15/28 | $12391 | $12548 | $12747 |
| &nbsp;&nbsp;&nbsp;545/350 Lago Mar East Development, Ltd. | (g)(l) | Real Estate Management & Development | 14.5% PIK (14.5% Max PIK) |  | 8/15/28 | 2167 | 2167 | 2229 |
| &nbsp;&nbsp;&nbsp;Accupac, LLC | (l) | Pharmaceuticals, Biotechnology & Life Sciences | S+300 PIK, 6.0% PIK (6.0% Max PIK) | 2.0% | 12/31/29 | 45883 | 45023 | 41409 |
| &nbsp;&nbsp;&nbsp;Accupac, LLC | (g)(l) | Pharmaceuticals, Biotechnology & Life Sciences | S+300 PIK, 6.0% PIK (6.0% Max PIK) | 2.0% | 12/31/29 | 3134 | 3134 | 2828 |
| &nbsp;&nbsp;&nbsp;Aircraft Performance Group, Inc. | (l) | Software & Services | S+575 | 3.0% | 12/27/29 | 22828 | 22478 | 22828 |
| &nbsp;&nbsp;&nbsp;Alegeus Technologies Holdings Corp. | (l) | Health Care Equipment & Services | S+675 | 1.0% | 11/5/29 | 29663 | 29032 | 29218 |
| &nbsp;&nbsp;&nbsp;All Day AcquisitionCo, LLC | (l) | Consumer Services | S+650 | 1.5% | 4/30/30 | 31360 | 30732 | 31086 |
| &nbsp;&nbsp;&nbsp;All Day AcquisitionCo, LLC | (g)(l) | Consumer Services | S+650 | 1.5% | 4/30/30 | 3443 | 3443 | 3412 |
| &nbsp;&nbsp;&nbsp;ANCILE Solutions, Inc. | (e)(l) | Software & Services | S+1000 | 1.0% | 6/11/26 | 30508 | 30508 | 31499 |
| &nbsp;&nbsp;&nbsp;APTIM Corp. | (e) | Commercial & Professional Services | S+750 | 0.0% | 5/23/29 | 27500 | 27500 | 27363 |
| &nbsp;&nbsp;&nbsp;Array Midco, Corp. | (l) | Commercial & Professional Services | S+650 | 3.0% | 12/31/29 | 29192 | 28632 | 28097 |
| &nbsp;&nbsp;&nbsp;Array Midco, Corp. | (g)(l) | Commercial & Professional Services | S+650 | 3.0% | 12/31/29 | 3359 | 3359 | 3233 |
| &nbsp;&nbsp;&nbsp;Arrow Purchaser, Inc. | (e) | Consumer Discretionary Distribution & Retail | S+675 | 1.0% | 4/15/26 | 12271 | 12270 | 11596 |
| &nbsp;&nbsp;&nbsp;Ascena Retail Group, Inc. | (e)(i)(p) | Consumer Discretionary Distribution & Retail |  | 0.8% | 8/21/22 | 35525 | 11795 | 129 |
| &nbsp;&nbsp;&nbsp;By Light Professional IT Services, LLC | (l) | Software & Services | S+550 | 1.0% | 7/15/31 | 20451 | 20572 | 20144 |
| &nbsp;&nbsp;&nbsp;By Light Professional IT Services, LLC | (g)(l) | Software & Services | S+550 | 1.0% | 7/15/31 | 1549 | 1549 | 1526 |
| &nbsp;&nbsp;&nbsp;CCS Acquisition, LLC | (l) | Health Care Equipment & Services | S+550 | 1.0% | 12/30/30 | 17981 | 17697 | 17981 |
| &nbsp;&nbsp;&nbsp;CCS Acquisition, LLC | (g)(l) | Health Care Equipment & Services | S+550 | 1.0% | 12/30/30 | 4929 | 4929 | 4929 |
| &nbsp;&nbsp;&nbsp;CircusTrix Holdings, LLC | (l) | Consumer Services | S+675 | 1.0% | 7/18/28 | 37133 | 37133 | 37760 |
| &nbsp;&nbsp;&nbsp;CircusTrix Holdings, LLC | (g)(l) | Consumer Services | S+675 | 1.0% | 7/18/28 | 2151 | 2151 | 2176 |
| &nbsp;&nbsp;&nbsp;Claros Mortgage Trust, Inc. | (e) | Financial Services | S+450 | 0.5% | 8/9/26 | 20130 | 19308 | 19500 |
| &nbsp;&nbsp;&nbsp;Core Health & Fitness, LLC | (l) | Consumer Services | S+800 | 3.0% | 6/18/29 | 39500 | 38687 | 40883 |
| &nbsp;&nbsp;&nbsp;Crusoe Energy Systems, LLC | (l) | Software & Services | 16.0% |  | 1/5/29 | 21956 | 22342 | 22505 |
| &nbsp;&nbsp;&nbsp;Domain Timberlake Note Issuer, LLC | (l) | Real Estate Management & Development | S+650 | 1.0% | 12/20/29 | 23200 | 23223 | 23577 |
| &nbsp;&nbsp;&nbsp;Firmus Metal Singapore Pte. Ltd. | (l) | Software & Services | S+1100 | 3.0% | 6/12/29 | 12603 | 12603 | 12603 |
| &nbsp;&nbsp;&nbsp;Firmus Metal Singapore Pte. Ltd. | (g)(l) | Software & Services | S+1100 | 3.0% | 6/12/29 | 4500 | 4500 | 4500 |
| &nbsp;&nbsp;&nbsp;First Brands Group, LLC | (e)(i)(p)(r) | Automobiles & Components | S+500 | 1.0% | 3/30/27 | 19713 | 19506 | 7171 |
| &nbsp;&nbsp;&nbsp;First Brands Group, LLC | (i)(p)(r) | Automobiles & Components | S+500 | 1.0% | 3/30/27 | 21230 | 19592 | 7324 |
| &nbsp;&nbsp;&nbsp;Future Pak, LLC | (l) | Materials | S+650 | 2.0% | 3/21/30 | 19300 | 18945 | 18914 |

---

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Credit Opportunities Corp.**

**Unaudited Consolidated Schedule of Investments (continued)**

As of September 30, 2025 (in thousands, except share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Maturity** | **Principal Amount**<sup>(c)</sup> | **Amortized Cost** | **Fair Value**<sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;Grass Valley USA, LLC | (l) | Technology Hardware & Equipment | S+700, 2.5% PIK (2.5% Max PIK) | 3.0% | 3/20/29 | $17634 | $17243 | $17634 |
| &nbsp;&nbsp;&nbsp;Grass Valley USA, LLC | (g)(l) | Technology Hardware & Equipment | S+700, 2.5% PIK (2.5% Max PIK) | 3.0% | 3/20/29 | 4427 | 4427 | 4427 |
| &nbsp;&nbsp;&nbsp;IXS Holdings, Inc. | (e) | Automobiles & Components | S+550 | 1.0% | 9/5/29 | 29196 | 28618 | 29172 |
| &nbsp;&nbsp;&nbsp;KIK ASS Products, Inc. | (l) | Pharmaceuticals, Biotechnology & Life Sciences | S+650 | 1.5% | 11/13/27 | 12355 | 11916 | 12355 |
| &nbsp;&nbsp;&nbsp;KIK ASS Products, Inc. | (g)(l) | Pharmaceuticals, Biotechnology & Life Sciences | S+650 | 1.5% | 11/13/27 | 7440 | 7440 | 7440 |
| &nbsp;&nbsp;&nbsp;Lance East Holdings Pty Ltd. | (l) | Consumer Services | S+750 | 3.0% | 8/20/28 | 24721 | 23505 | 23485 |
| &nbsp;&nbsp;&nbsp;LaserShip, Inc. | (e)(i)(p) | Transportation | S+150, 7.0% PIK (7.0% Max PIK) | 0.8% | 8/10/29 | 22481 | 7095 | 6857 |
| &nbsp;&nbsp;&nbsp;LifeScan Global Corp. | (e) | Health Care Equipment & Services | S+650 | 0.0% | 12/31/26 | 35214 | 32518 | 33982 |
| &nbsp;&nbsp;&nbsp;LogRhythm, Inc. | (l) | Software & Services | S+750 | 1.0% | 7/2/29 | 29091 | 28346 | 28000 |
| &nbsp;&nbsp;&nbsp;LogRhythm, Inc. | (g)(l) | Software & Services | S+750 | 1.0% | 7/2/29 | 2909 | 2909 | 2800 |
| &nbsp;&nbsp;&nbsp;LR Orion Bidco Ltd. | (l) | Software & Services | S+525 | 0.0% | 11/22/31 | 15137 | 15268 | 15458 |
| &nbsp;&nbsp;&nbsp;LR Orion Bidco Ltd. | (g)(l) | Software & Services | SA+275 | 0.0% | 5/22/31 | £1607 | 2013 | 2013 |
| &nbsp;&nbsp;&nbsp;LR Orion Bidco Ltd. | (g)(l) | Software & Services | S+550 | 0.0% | 11/22/31 | $2242 | 2242 | 2290 |
| &nbsp;&nbsp;&nbsp;Management Health Systems, LLC | (l) | Health Care Equipment & Services | S+625 | 1.0% | 12/31/27 | 26434 | 26204 | 26302 |
| &nbsp;&nbsp;&nbsp;MASSiv Brands, LLC | (l) | Consumer Durables & Apparel | 10.0%, 5.0% PIK (5.0% Max PIK) |  | 7/2/30 | 38475 | 37750 | 37946 |
| &nbsp;&nbsp;&nbsp;Maverick Gaming, LLC | (e)(i)(p) | Consumer Services | S+950 PIK (S+950 Max PIK) | 1.0% | 6/5/28 | 14846 | 15705 | 8537 |
| &nbsp;&nbsp;&nbsp;MLN US Holdco, LLC | (e)(i)(p) | Technology Hardware & Equipment | S+200, 6.0% PIK (6.0% Max PIK) | 1.0% | 6/20/30 | 302 | 259 | 215 |
| &nbsp;&nbsp;&nbsp;Monitronics International, LLC | (e)(s) | Commercial & Professional Services | S+750 | 3.0% | 6/30/28 | 42955 | 42958 | 43008 |
| &nbsp;&nbsp;&nbsp;Mountaineer Merger Corp. | (e)(l)(s) | Consumer Discretionary Distribution & Retail | S+100, 7.0% PIK (7.0% Max PIK) | 0.8% | 6/14/30 | 2099 | 2099 | 2099 |
| &nbsp;&nbsp;&nbsp;Mountaineer Merger Corp. | (e)(l)(s) | Consumer Discretionary Distribution & Retail | S+800 | 0.8% | 6/14/30 | 2527 | 2527 | 2527 |
| &nbsp;&nbsp;&nbsp;Neovia Logistics, LP | (e) | Transportation | S+900, 0.0% PIK (9.0% Max PIK) | 0.5% | 11/1/27 | 52701 | 50327 | 52833 |
| &nbsp;&nbsp;&nbsp;New WPCC Parent, LLC | (l)(s) | Health Care Equipment & Services | S+950 | 2.0% | 5/9/30 | 10268 | 10268 | 10268 |
| &nbsp;&nbsp;&nbsp;Olibre Borrower, LLC | (l) | Consumer Durables & Apparel | S+550 | 1.0% | 1/3/30 | 27790 | 27305 | 27547 |
| &nbsp;&nbsp;&nbsp;OmniMax International, LLC | (l) | Capital Goods | S+575 | 1.0% | 12/6/30 | 39800 | 39199 | 39104 |
| &nbsp;&nbsp;&nbsp;Onbe, Inc. | (l) | Financial Services | S+550 | 1.0% | 7/25/31 | 26798 | 26333 | 26630 |
| &nbsp;&nbsp;&nbsp;Phoenix Rehabilitation and Health Services, Inc. | (l) | Health Care Equipment & Services | 14.0% PIK (14.0% Max PIK) | 1.0% | 9/29/30 | 24853 | 24241 | 24356 |
| &nbsp;&nbsp;&nbsp;Phoenix Rehabilitation and Health Services, Inc. | (g)(l) | Health Care Equipment & Services | S+600 | 1.0% | 9/29/30 | 7648 | 7648 | 7532 |
| &nbsp;&nbsp;&nbsp;Powerhouse Intermediate, LLC | (l) | Commercial & Professional Services | S+1225 PIK (S+1225 Max PIK) | 1.0% | 1/12/27 | 36814 | 36192 | 36722 |

---

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Credit Opportunities Corp.**

**Unaudited Consolidated Schedule of Investments (continued)**

As of September 30, 2025 (in thousands, except share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Maturity** | **Principal Amount**<sup>(c)</sup> | **Amortized Cost** | **Fair Value**<sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;Pretium PKG Holdings, Inc. | (e) | Materials | S+375, 1.3% PIK (1.3% Max PIK) | 1.0% | 10/2/28 | $22765 | $22526 | $22722 |
| &nbsp;&nbsp;&nbsp;Project Granite Buyer, Inc. | (l) | Insurance | S+575 | 0.8% | 12/31/31 | 10354 | 10121 | 10238 |
| &nbsp;&nbsp;&nbsp;Project Granite Buyer, Inc. | (g)(l) | Insurance | S+575 | 0.8% | 12/31/30 | 1606 | 1606 | 1589 |
| &nbsp;&nbsp;&nbsp;Project Granite Buyer, Inc. | (g)(l) | Insurance | S+575 | 0.8% | 12/31/31 | 962 | 962 | 951 |
| &nbsp;&nbsp;&nbsp;Pyxus Holdings, Inc. | (e) | Food, Beverage & Tobacco | S+800 | 1.5% | 12/31/27 | 20390 | 18126 | 19819 |
| &nbsp;&nbsp;&nbsp;Recovery Solutions Parent, LLC | (l)(s) | Health Care Equipment & Services | S+750 (S+850 Max PIK) | 2.0% | 1/28/30 | 15271 | 15271 | 15271 |
| &nbsp;&nbsp;&nbsp;Restoration Forest Products Group, LLC | (l) | Materials | S+1000 PIK (S+1000 Max PIK) | 3.0% | 5/5/28 | 25911 | 25255 | 25296 |
| &nbsp;&nbsp;&nbsp;Revlon Intermediate Holdings IV, LLC | (e) | Household & Personal Products | S+688 | 1.0% | 5/2/28 | 14925 | 14953 | 14807 |
| &nbsp;&nbsp;&nbsp;Riddell, Inc. | (l) | Consumer Durables & Apparel | S+600, 0.0% PIK (3.0% Max PIK) | 1.0% | 3/29/29 | 11711 | 11488 | 11550 |
| &nbsp;&nbsp;&nbsp;Riddell, Inc. | (g)(l) | Consumer Durables & Apparel | S+600, 0.0% PIK (3.0% Max PIK) | 1.0% | 3/29/29 | 1250 | 1250 | 1233 |
| &nbsp;&nbsp;&nbsp;RunItOneTime, LLC | (e)(l) | Consumer Services | S+1150 PIK (S+1150 Max PIK) | 2.0% | 4/16/26 | 2811 | 2706 | 2703 |
| &nbsp;&nbsp;&nbsp;RunItOneTime, LLC | (e)(l) | Consumer Services | S+1150 PIK (S+1150 Max PIK) | 2.0% | 5/6/26 | 4597 | 4430 | 4051 |
| &nbsp;&nbsp;&nbsp;RunItOneTime, LLC | (e)(l) | Consumer Services | S+1250 PIK (S+1250 Max PIK) | 2.0% | 4/16/26 | 224 | 217 | 198 |
| &nbsp;&nbsp;&nbsp;Salt Creek Aggregator HoldCo, LLC | (e)(l) | Energy | 8.0% PIK (8.0% Max PIK) |  | 7/12/26 | 22029 | 22071 | 21561 |
| &nbsp;&nbsp;&nbsp;Shepherd Intermediate, LLC | (l) | Commercial & Professional Services | S+725 | 1.0% | 7/10/30 | 12500 | 12283 | 12391 |
| &nbsp;&nbsp;&nbsp;Shepherd Intermediate, LLC | (g)(l) | Commercial & Professional Services | S+725 | 1.0% | 7/10/30 | 4166 | 4166 | 4130 |
| &nbsp;&nbsp;&nbsp;SuperRego, LLC | (l) | Consumer Services | 15.0% PIK (15.0% Max PIK) |  | 3/30/30 | 32616 | 32131 | 32738 |
| &nbsp;&nbsp;&nbsp;TCFIII Owl Finance LLC | (l) | Capital Goods | 12.0% PIK (12.0% Max PIK) |  | 1/30/27 | 68653 | 68318 | 61273 |
| &nbsp;&nbsp;&nbsp;Titan Purchaser, Inc. | (e) | Materials | S+600 | 1.0% | 3/1/30 | 14765 | 14715 | 14870 |
| &nbsp;&nbsp;&nbsp;Travelpro Group Holdings, Inc. | (l) | Consumer Durables & Apparel | S+800 | 3.0% | 10/24/28 | 41119 | 40424 | 37264 |
| &nbsp;&nbsp;&nbsp;TruGreen, LP | (e) | Commercial & Professional Services | S+400 | 0.8% | 11/2/27 | 13654 | 13057 | 13433 |
| &nbsp;&nbsp;&nbsp;United Gaming LLC | (e)(i)(l)(p) | Consumer Services | S+900 | 0.0% | 11/30/26 | 45456 | 45322 | 43296 |
| &nbsp;&nbsp;&nbsp;United Gaming LLC | (g)(i)(l)(p) | Consumer Services | S+900 | 1.0% | 11/30/26 | 118 | 118 | 112 |
| &nbsp;&nbsp;&nbsp;United Site Services, Inc. | (e) | Commercial & Professional Services | S+625 | 0.5% | 4/30/30 | 5000 | 5097 | 5048 |
| &nbsp;&nbsp;&nbsp;WildBrain Ltd. | (l) | Media & Entertainment | S+600 | 1.0% | 7/23/29 | 32282 | 31722 | 32040 |
| &nbsp;&nbsp;&nbsp;WildBrain Ltd. | (g)(l) | Media & Entertainment | S+600 | 1.0% | 7/23/29 | 2024 | 2024 | 2009 |
| &nbsp;&nbsp;&nbsp;WMK, LLC | (l) | Consumer Discretionary Distribution & Retail | S+650 | 3.0% | 1/25/28 | 17969 | 17600 | 17362 |
| &nbsp;&nbsp;&nbsp;WMK, LLC | (g)(l) | Consumer Discretionary Distribution & Retail | S+650 | 3.0% | 1/25/28 | 1333 | 1333 | 1288 |

---

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Credit Opportunities Corp.**

**Unaudited Consolidated Schedule of Investments (continued)**

As of September 30, 2025 (in thousands, except share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Maturity** | **Principal Amount**<sup>(c)</sup> | **Amortized Cost** | **Fair Value**<sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;Wok Holdings, Inc. |  | Consumer Services | S+625 | 0.0% | 9/3/29 | $22262 | $21448 | $17420 |
| **Total Senior Secured Loans—First Lien** | **Total Senior Secured Loans—First Lien** | **Total Senior Secured Loans—First Lien** |  |  |  |  | 1518653 | 1467369 |
| Unfunded Commitments |  |  |  |  |  |  | (63370) | (63370) |
| **Net Senior Secured Loans—First Lien** | **Net Senior Secured Loans—First Lien** | **Net Senior Secured Loans—First Lien** |  |  |  |  | 1455283 | 1403999 |
| **Senior Secured Loans—Second Lien—4.1%** | **Senior Secured Loans—Second Lien—4.1%** | **Senior Secured Loans—Second Lien—4.1%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;MBS Services Holdings, LLC | (l) | Commercial & Professional Services | 15.0% PIK (15.0% Max PIK) |  | 9/20/30 | 35729 | 34919 | 29094 |
| &nbsp;&nbsp;&nbsp;Salt Creek Aggregator HoldCo, LLC | (e)(l) | Energy | 7.5% PIK (7.5% Max PIK) |  | 7/12/27 | 23872 | 18836 | 19605 |
| &nbsp;&nbsp;&nbsp;Salt Creek Aggregator HoldCo, LLC | (e)(i)(l)(p) | Energy | 7.5% PIK (7.5% Max PIK) |  | 7/12/27 | 3762 | 1996 | 2539 |
| &nbsp;&nbsp;&nbsp;TruGreen, LP | (e) | Commercial & Professional Services | S+850 | 0.8% | 11/2/28 | 10000 | 9896 | 9058 |
| **Total Senior Secured Loans—Second Lien** | **Total Senior Secured Loans—Second Lien** | **Total Senior Secured Loans—Second Lien** |  |  |  |  | 65647 | 60296 |
| **Senior Secured Bonds—4.7%** | **Senior Secured Bonds—4.7%** | **Senior Secured Bonds—4.7%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Grass Valley Canada ULC | (i)(l)(p) | Technology Hardware & Equipment | 8.5% PIK (8.5% Max PIK) |  | 9/20/29 | 2579 | 838 | 1264 |
| &nbsp;&nbsp;&nbsp;Grass Valley Dutch Acquisition B.V. | (i)(l)(p) | Technology Hardware & Equipment | 8.5% PIK (8.5% Max PIK) |  | 9/20/29 | 597 | 194 | 292 |
| &nbsp;&nbsp;&nbsp;Grass Valley Dutch Holdco B.V. | (i)(l)(p) | Technology Hardware & Equipment | 8.5% PIK (8.5% Max PIK) |  | 9/20/29 | 285 | 93 | 140 |
| &nbsp;&nbsp;&nbsp;Guitar Center, Inc. | (n)(o) | Consumer Discretionary Distribution & Retail | 8.5%, 2.5% PIK (2.5% Max PIK) |  | 1/15/29 | $38850 | 31420 | 33023 |
| &nbsp;&nbsp;&nbsp;Guitar Center, Inc. | (i)(l)(n)(p) | Consumer Discretionary Distribution & Retail | 11.0% PIK (11.0% Max PIK) |  | 8/19/32 | 10130 |  |  |
| &nbsp;&nbsp;&nbsp;Medicine Man Technologies, Inc., Convertible Note | (i)(l)(p) | Pharmaceuticals, Biotechnology & Life Sciences | 15.0% PIK (15.0% Max PIK) |  | 12/3/26 | 17116 | 16623 | 8917 |
| &nbsp;&nbsp;&nbsp;Universal Entertainment Corp. | (n)(o) | Consumer Durables & Apparel | 9.9% |  | 8/1/29 | 25375 | 25173 | 25213 |
| **Total Senior Secured Bonds** | **Total Senior Secured Bonds** | **Total Senior Secured Bonds** |  |  |  |  | 74341 | 68849 |
| **Unsecured Debt—2.0%** | **Unsecured Debt—2.0%** | **Unsecured Debt—2.0%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Pioneer Midco, LLC | (l) | Consumer Services | 11.6% PIK (11.6% Max PIK) |  | 11/18/30 | 27903 | 27912 | 28182 |
| **Total Unsecured Debt** | **Total Unsecured Debt** | **Total Unsecured Debt** |  |  |  |  | 27912 | 28182 |
| **Asset Based Finance—2.8%** | **Asset Based Finance—2.8%** | **Asset Based Finance—2.8%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO I Ltd., Subordinated Notes | (l)(m)(n)(s) | Financial Services | 18.0% |  | 7/20/37 | 28200 | 21566 | 18164 |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO I Ltd., Tranche D Notes | (m)(n)(s) | Financial Services | S+705 |  | 7/20/37 | 3500 | 3500 | 3514 |

---

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Credit Opportunities Corp.**

**Unaudited Consolidated Schedule of Investments (continued)**

As of September 30, 2025 (in thousands, except share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Maturity** | **Principal Amount**<sup>(c)</sup> | **Amortized Cost** | **Fair Value**<sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO II Ltd., Subordinated Notes | (l)(m)(n)(s) | Financial Services | 17.7% |  | 7/20/34 | $28560 | $22611 | $19300 |
| **Total Asset Based Finance** |  |  |  |  |  |  | 47677 | 40978 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Shares/Units** | **Cost** | **Fair**<br>**Value**<sup>(d)</sup> |
| **Equity/Other—10.7%** | | | | | | | |
| &nbsp;&nbsp;&nbsp;Chinos Holdings, Inc., Warrants | (i) | Consumer Discretionary Distribution & Retail |  |  | 412738 | 1447 | 516 |
| &nbsp;&nbsp;&nbsp;Drive Assurance Corp., Common Equity | (i)(l) | Insurance |  |  | 18760 | 19 | 1318 |
| &nbsp;&nbsp;&nbsp;Drive Assurance Corp., Preferred Stock | (l) | Insurance | 10.0% PIK (10.0% Max PIK) |  | 1281 | 1281 | 1281 |
| &nbsp;&nbsp;&nbsp;MASSiv Brands, LLC, Common Equity | (i)(k)(l) | Consumer Durables & Apparel |  |  | 345455 | 82 | 941 |
| &nbsp;&nbsp;&nbsp;MBS Services Holdings, LLC, A-3 Units | (i)(k)(l) | Commercial & Professional Services |  |  | 522382 | 522 |  |
| &nbsp;&nbsp;&nbsp;Mitel Networks Ltd., Common Equity | (e)(i)(l) | Technology Hardware & Equipment |  |  | 13210 |  |  |
| &nbsp;&nbsp;&nbsp;Monitronics International, LLC, Common Equity | (e)(i)(s) | Commercial & Professional Services |  |  | 997489 | 13517 | 12967 |
| &nbsp;&nbsp;&nbsp;Mountaineer Ultimate Holdings, LLC, Common Equity | (e)(i)(l)(s) | Consumer Discretionary Distribution & Retail |  |  | 13788310 |  |  |
| &nbsp;&nbsp;&nbsp;Mountaineer Ultimate Holdings, LLC, Preferred Equity | (e)(i)(l)(s) | Consumer Discretionary Distribution & Retail |  |  | 13788310 | 7584 | 7437 |
| &nbsp;&nbsp;&nbsp;Nelson Global Products, Inc., Common Equity | (i)(l) | Automobiles & Components |  |  | 43998 | 1231 | 75 |
| &nbsp;&nbsp;&nbsp;Nelson Global Products, Inc., Series A Preferred Stock | (i)(l) | Automobiles & Components |  |  | 1268 | 1268 | 1268 |
| &nbsp;&nbsp;&nbsp;New Giving Acquisition, Inc., Common Equity | (l)(t) | Health Care Equipment & Services |  |  | 205227 |  | 26567 |
| &nbsp;&nbsp;&nbsp;New WPCC Parent, LLC, Common Equity | (e)(i)(l)(q)(s) | Health Care Equipment & Services |  |  | 427863 | 11 |  |
| &nbsp;&nbsp;&nbsp;New WPCC Parent, LLC, Preferred Equity | (e)(l)(q)(s) | Health Care Equipment & Services | 13.0% PIK (13.0% Max PIK) |  | 5229 | 4205 | 4678 |
| &nbsp;&nbsp;&nbsp;Penn Foster Inc., Preferred Equity, 11/17/27 | (e)(l) | Consumer Services | S+975 PIK (S+975 Max PIK) | 1.0% | 71849 | 71261 | 64126 |
| &nbsp;&nbsp;&nbsp;Recovery Solutions Parent, LLC, Common Equity | (i)(l)(s) | Health Care Equipment & Services |  |  | 839847 | 18897 | 19367 |
| &nbsp;&nbsp;&nbsp;Riddell, Inc., Preferred Equity, 10/01/29 | (l) | Consumer Durables & Apparel | 10.0% PIK (10.0% Max PIK) |  | 7247 | 7145 | 7736 |
| &nbsp;&nbsp;&nbsp;SCM Topco, LLC, Series B Preferred Equity, 7/13/28 | (i)(k)(l)(p) | Energy | 5.0% PIK (5.0% Max PIK) |  | 27398 | 2449 | 890 |
| &nbsp;&nbsp;&nbsp;SCM Topco, LLC, Series C Common Equity | (i)(k)(l) | Energy |  |  | 196 |  |  |
| &nbsp;&nbsp;&nbsp;SCM Topco, LLC, Warrants, 7/10/28, Strike: $75,000 | (i)(k)(l) | Energy |  |  | 1 |  |  |
| &nbsp;&nbsp;&nbsp;Selecta Group B.V., Contingent Value Notes | (h)(i)(l) | Consumer Staples Distribution & Retail |  |  | 7 | 3 |  |
| &nbsp;&nbsp;&nbsp;Selecta Group B.V., Warrants | (h)(i)(l) | Consumer Staples Distribution & Retail |  |  | 98 | 2 |  |
| &nbsp;&nbsp;&nbsp;SPDR S&P 500 ETF Trust, Put Option, 10/31/25, Strike: $580 | (i) | Financial Services |  |  | 3 | 2537 | 204 |
| &nbsp;&nbsp;&nbsp;SPDR S&P 500 ETF Trust, Put Option, 10/31/25, Strike: $585 | (i) | Financial Services |  |  | 7 | 5042 | 570 |

---

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Credit Opportunities Corp.**

**Unaudited Consolidated Schedule of Investments (continued)**

As of September 30, 2025 (in thousands, except share amounts)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company**<sup>(a)</sup> | **Footnotes** | **Industry** | **Rate**<sup>(b)</sup> | **Floor**<sup>(b)</sup> | **Shares/Units** | **Cost** | **Fair**<br>**Value**<sup>(d)</sup> |
| &nbsp;&nbsp;&nbsp;SPDR S&P 500 ETF Trust, Put Option, 10/31/25, Strike: $592 | (i) | Financial Services |  |  | 4 | $2348 | $362 |
| &nbsp;&nbsp;&nbsp;SuperRego, LLC, Warrants, 7/30/28, Strike: $0.01 | (i)(l) | Consumer Services |  |  | 139285 | 56 | 4610 |
| **Total Equity/Other** |  |  |  |  |  | 140907 | 154913 |
| **TOTAL INVESTMENTS—120.8%** |  |  |  |  |  | $1811767 | 1757217 |
| **Cash and Cash Equivalents and Foreign Currency—26.7%** | (f) |  |  |  |  |  | 388611 |
| **Credit Facilities Payable—(19.6%)** |  |  |  |  |  |  | (285000) |
| **Term Preferred Shares, at Liquidation Value, Net—(27.4%)** | **Term Preferred Shares, at Liquidation Value, Net—(27.4%)** | **Term Preferred Shares, at Liquidation Value, Net—(27.4%)** |  |  |  |  | (398546) |
| **Other Liabilities in Excess of Assets—(0.5%)** | (j) |  |  |  |  |  | (7495) |
| **NET ASSETS—100.0%** |  |  |  |  |  |  | $1454787 |

---

_________________

€ – Euro.

£– British Pound.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps** | **Interest Rate Swaps** | | | | | | | |
| **Counterparty** | **Fund Pays** | **Fund Receives** | **Periodic Payment Frequency** | **Expiration Date** | **Notional Amount** | **Fair Value**<sup>(d)</sup> | **Unamortized Premiums Paid (Received)** |<br>**Unrealized Appreciation (Depreciation)** |
| Barclays Bank PLC | EFFR | 3.3% | Semi-Annual | 5/16/29 | $50000 | $134 | $— | $134 |
| **Total** | **Total** | **Total** | **Total** | **Total** | **Total** | $134 | $— | $134 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Options Written**<br>**Description** |<br>**Put / Call** | **Strike** | **Expiration Date** | **Number of Contracts** | **Premiums Received** |<br>**Fair Value**<sup>(d)</sup> |
| &nbsp;&nbsp;SPDR S&P 500 ETF Trust | Put Option | $547 | 10/31/25 | (2750) | $(1488) | $(118) |
| &nbsp;&nbsp;SPDR S&P 500 ETF Trust | Put Option | $555 | 10/31/25 | (6700) | (3022) | (328) |
| &nbsp;&nbsp;SPDR S&P 500 ETF Trust | Put Option | $560 | 10/31/25 | (3850) | (1321) | (205) |
| **Total** | **Total** | **Total** | **Total** | **Total** | $(5831) | $(651) |

---

_________________

(a) Security may be an obligation of one or more entities affiliated with the named company.

(b) Certain variable rate securities in FS Credit Opportunities Corp.'s, or the Fund's, portfolio bear interest at a rate determined by a publicly disclosed base rate plus a basis point spread. As of September 30, 2025, the three-month Sterling Overnight Index Average, or SA was 3.97%, the Effective Federal Funds Rate, or EFFR, was 4.09%, and the one-month and three-month Term Secured Overnight Financing Rate, or Term SOFR, or S, was 4.13% and 3.98%, respectively. Term SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and basis point spread. PIK means paid-in-kind. PIK income accruals may be adjusted based on the fair value of the underlying investment. Variable rate securities with no floor rate use the respective benchmark rate in all cases.

(c) Denominated in U.S. dollars, unless otherwise noted.

(d) Fair value is determined by the Fund's investment adviser, FS Global Advisor, LLC which has been designated by the Fund's Board of Directors as its valuation designee. The Fund's current Valuation Policy complies with SEC Rule 2a-5, Good Faith Determinations of Fair Value, and addresses the valuation of investments, fair value hierarchy levels and other significant valuation-related procedures, reporting and recordkeeping.

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Credit Opportunities Corp.**

**Unaudited Consolidated Schedule of Investments (continued)**

As of September 30, 2025 (in thousands, except share amounts)

(e) Security or portion thereof held by Blair Funding LLC, or Blair Funding, a wholly-owned subsidiary of the Fund, and is pledged as collateral supporting the amounts outstanding under Blair Funding's credit facility with Barclays Bank PLC, as administrative agent and Wells Fargo Bank, National Association, as collateral agent.

(f) Includes $2,962 of a cash equivalent invested in the Allspring Government Money Market Fund with a 7-day yield of 4.1% as of September 30, 2025.

(g) Security is an unfunded loan commitment.

(h) Security or portion thereof held by FS Global Credit Opportunities (Luxembourg) S.à r.l., a wholly **-** owned subsidiary of the Fund.

(i) Security is non-income producing.

(j) Includes the effect of interest rate swaps and options written.

(k) Security held within FS Global Investments, Inc., a wholly-owned subsidiary of the Fund.

(l) Security is classified as Level 3 in the Fund's fair value hierarchy.

(m) Securities of collateralized loan obligations, or CLOs, where an affiliate of the Fund's investment adviser serves as collateral manager and administrator. The fair value of the investment may be inclusive of the present value of future senior management fee and subordinated management fee cash flows from the collateral manager and administrator of the CLOs to the Fund. The stated rate on these securities may represent the annualized yield as of September 30, 2025.

(n) Exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be deemed liquid by the investment adviser and may be resold, normally to qualified institutional buyers in transactions exempt from registration. Total market value of Rule 144A securities amounts to $99,214, which represents approximately 6.82% of net assets as of September 30, 2025.

(o) Security or portion thereof held by Bucks Funding, a wholly-owned subsidiary of the Fund, and is pledged as collateral supporting the amounts outstanding under Bucks Funding's prime brokerage facility with BNP Paribas Prime Brokerage International, Ltd., or BNP PBIL. Securities held by Bucks Funding may be rehypothecated from time to time as permitted by Rule 15c-1(a)(1) promulgated under the Securities Exchange Act of 1934, as amended, subject to the terms and conditions governing Bucks Funding's prime brokerage facility with BNP PBIL. As of September 30, 2025, there were no securities rehypothecated by BNP PBIL. The Fund earned $32 of income from rehypothecated securities during the nine months ended September 30, 2025.

(p) Security was on non-accrual status as of September 30, 2025.

(q) Position or portion thereof unsettled as of September 30, 2025.

(r) Portfolio company filed for bankruptcy protection on September 29, 2025. The Fund no longer has exposure to this portfolio company.

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Credit Opportunities Corp.**

**Unaudited Consolidated Schedule of Investments (continued)**

As of September 30, 2025 (in thousands, except share amounts)

(s) Under the Investment Company Act of 1940, as amended, the Fund generally is deemed to be an "affiliated person" of a portfolio company if it owns 5% or more of the portfolio company's voting securities and generally is deemed to "control" a portfolio company if it owns more than 25% of the portfolio company's voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of September 30, 2025, the Fund held investments in portfolio companies of which it is deemed to be an "affiliated person" but is not deemed to "control." The following table presents certain information with respect to investments in portfolio companies of which the Fund was deemed to be an affiliated person as of September 30, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company** | **Fair Value at<br>December 31, 2024** | **Gross Additions**<sup>(1)</sup> | **Gross Reductions**<sup>(2)</sup> | **Net Realized Gain (Loss)** | **Net Change in Unrealized Appreciation (Depreciation)** | **Fair Value at**<br>**September 30, 2025** | **Interest Income**<sup>(3)</sup> | **PIK Income**<sup>(3)</sup> |
| **Senior Secured Loans—First Lien** | | | | | | | | |
| &nbsp;&nbsp;&nbsp;Monitronics International, LLC | $50827 | $— | $(8027) | $(1) | $209 | $43008 | $4544 | $— |
| &nbsp;&nbsp;&nbsp;Mountaineer Merger Corp. |  | 2099 |  |  |  | 2099 | 15 | 5 |
| &nbsp;&nbsp;&nbsp;Mountaineer Merger Corp. |  | 2527 |  |  |  | 2527 | 17 | 15 |
| &nbsp;&nbsp;&nbsp;New WPCC Parent, LLC |  | 10384 | (116) |  |  | 10268 | 577 |  |
| &nbsp;&nbsp;&nbsp;Recovery Solutions Parent, LLC |  | 15346 | (75) |  |  | 15271 | 924 | 336 |
| **Asset Based Finance** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO I Ltd., Subordinated Notes | 24765 |  | (740) |  | (5861) | 18164 | 2704 |  |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO I Ltd., Tranche D Notes | 3496 |  |  |  | 18 | 3514 | 298 |  |
| &nbsp;&nbsp;&nbsp;Bridge Street CLO II Ltd., Subordinated Notes | 22281 |  | (1312) |  | (1669) | 19300 | 1949 |  |
| **Equity/Other** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Monitronics International, LLC | 20947 |  |  |  | (7980) | 12967 |  |  |
| &nbsp;&nbsp;&nbsp;Mountaineer Ultimate Holdings, LLC, Common Equity |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Mountaineer Ultimate Holdings, LLC, Preferred Equity |  | 7584 |  |  | (147) | 7437 |  |  |
| &nbsp;&nbsp;&nbsp;New Giving Acquisition, Inc, Common Equity<sup>(4)</sup> | 50609 |  |  |  | (50609) |  |  |  |
| &nbsp;&nbsp;&nbsp;New WPCC Parent, LLC, Common Equity |  | 11 |  |  | (11) |  |  |  |
| &nbsp;&nbsp;&nbsp;New WPCC Parent, LLC, Preferred Equity |  | 4205 |  |  | 473 | 4678 | 171 | 95 |
| &nbsp;&nbsp;&nbsp;Recovery Solutions Parent, LLC, Common Equity |  | 18897 |  |  | 470 | 19367 |  |  |
| **Total** | $172925 | $61053 | $(10270) | $(1) | $(65107) | $158600 | $11199 | $451 |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company into this category from a different category.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and/or the movement of an existing portfolio company out of this category into a different category.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)Interest income and PIK income presented for the full nine months ended September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)The Fund was deemed to "control" the portfolio company during the nine months ended September 30, 2025. Transfers out have been presented at amortized cost and are deemed to have occurred at the beginning of the reporting period.

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Credit Opportunities Corp.**

**Unaudited Consolidated Schedule of Investments (continued)**

As of September 30, 2025 (in thousands, except share amounts)

(t) Under the Investment Company Act of 1940, as amended, the Fund generally is deemed to "control" a portfolio company if it owns more than 25% of the portfolio company's voting securities or it has the power to exercise control over the management or policies of such portfolio company. As of September 30, 2025, the Fund held investments in portfolio companies of which it is deemed to be an "affiliated person" and deemed to "control." The following table presents certain information with respect to investments in portfolio companies of which the Fund was deemed to be an affiliated person and deemed to control as of September 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio Company** | **Fair Value at<br>December 31, 2024** | **Gross Additions**<sup>(1)</sup> | **Gross Reductions**<sup>(2)</sup> | **Net Realized Gain (Loss)** | **Net Change in Unrealized Appreciation (Depreciation)** | **Fair Value at**<br>**September 30, 2025** | **Dividend Income, Net of Tax Adjustments**<sup>(3)</sup> |
| **Equity/Other** | | | | | | | |
| &nbsp;&nbsp;&nbsp;New Giving Acquisition, Inc, Common Equity<sup>(4)</sup> | $— | $— | $(20466) | $20466 | $26567 | $26567 | $(829) |
| &nbsp;&nbsp;&nbsp;SCM EPIC, LLC, Common Equity | 29516 |  | (39670) | 3809 | 6345 |  |  |
| **Total** | $29516 | $— | $(60136) | $24275 | $32912 | $26567 | $(829) |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, PIK interest, the amortization of unearned income, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)Gross reductions include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)Dividend income, net of tax adjustments presented for the full nine months ended September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)The Fund was deemed to "control" the portfolio company during the nine months ended September 30, 2025. Transfers in have been presented at amortized cost and are deemed to have occurred at the beginning of the reporting period.

See Notes to Unaudited Consolidated Schedule of Investments.

------

**FS Credit Opportunities Corp.**

**Notes to Unaudited Consolidated Schedule of Investments**

As of September 30, 2025 (in thousands)

**Investment Portfolio**

*The information contained in this section should be read in conjunction with the Fund's audited consolidated financial statements contained in its annual report for the fiscal year ended December 31, 2024 and its unaudited consolidated financial statements contained in its semi-annual report for the six months ended June 30, 2025.*

In general, under the 1940 Act, the Fund would be presumed to "control" a portfolio company if it owned more than 25% of its voting securities or had the power to exercise control over the management or policies of a portfolio company, and would be an "affiliated person" of a portfolio company if it owned 5% or more of its voting securities.

As of September 30, 2025, the Fund held investments in six portfolio companies of which it is deemed to be an "affiliated person" but is not deemed to "control," and held an investment in one portfolio company of which it is deemed to "control." For additional information with respect to such portfolio companies, see footnotes (s) and (t) to the unaudited consolidated schedule of investments as of September 30, 2025 included herein.

The Fund's investment portfolio may contain loans that are in the form of lines of credit or revolving credit facilities, which require the Fund to provide funding when requested by portfolio companies in accordance with the terms of the underlying loan agreements. As of September 30, 2025, the Fund had twenty-one senior secured loan investments with aggregate unfunded commitments of $63,370. The Fund maintains sufficient cash on hand and/or available borrowings to fund such unfunded commitments should the need arise.

The table below describes investments by industry classification and enumerates the percentage, by fair value, of the total portfolio assets in such industries as of September 30, 2025:

---

| | | |
|:---|:---|:---|
| **Industry Classification** | **Fair Value** | **Percentage of Portfolio** |
| Automobiles & Components | $45010 | 3% |
| Capital Goods | 100377 | 6% |
| Commercial & Professional Services | 217019 | 12% |
| Consumer Discretionary Distribution & Retail | 74644 | 4% |
| Consumer Durables & Apparel | 148180 | 8% |
| Consumer Services | 339063 | 19% |
| Energy | 44595 | 2% |
| Financial Services | 88244 | 5% |
| Food, Beverage & Tobacco | 19819 | 1% |
| Health Care Equipment & Services | 207874 | 12% |
| Household & Personal Products | 14807 | 1% |
| Insurance | 12809 | 1% |
| Materials | 81802 | 5% |
| Media & Entertainment | 32025 | 2% |
| Pharmaceuticals, Biotechnology & Life Sciences | 62375 | 4% |
| Real Estate Management & Development | 36386 | 2% |
| Software & Services | 152953 | 9% |
| Technology Hardware & Equipment | 19545 | 1% |
| Transportation | 59690 | 3% |
| Total | $1757217 | 100% |

---

Under existing accounting guidance, fair value is defined as the price that the Fund would receive upon selling an asset or pay to transfer a liability in an orderly transaction to a market participant in the principal or most advantageous market for the investment. This accounting guidance emphasizes valuation techniques that maximize the use of observable market inputs and minimize the use of unobservable inputs. Inputs refer broadly to the assumptions that market participants would use in pricing an asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the Fund. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances. The Fund classifies the inputs used to measure these fair values into the following hierarchy as defined by current accounting guidance:

*Level 1*: Inputs that are quoted prices (unadjusted) in active markets for identical assets or liabilities.

*Level 2*: Inputs that are quoted prices for similar assets or liabilities in active markets.

*Level 3*: Inputs that are unobservable for an asset or liability.

A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

As of September 30, 2025, the Fund's investments and derivatives were categorized as follows in the fair value hierarchy:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;Senior Secured Loans—First Lien | $— | $355806 | $1048193 | $1403999 |
| &nbsp;&nbsp;&nbsp;Senior Secured Loans—Second Lien |  | 9058 | 51238 | 60296 |
| &nbsp;&nbsp;&nbsp;Senior Secured Bonds |  | 58236 | 10613 | 68849 |
| &nbsp;&nbsp;&nbsp;Unsecured Debt |  |  | 28182 | 28182 |
| &nbsp;&nbsp;&nbsp;Asset Based Finance |  | 3514 | 37464 | 40978 |
| &nbsp;&nbsp;&nbsp;Equity/Other | 1136 | 13483 | 140294 | 154913 |
| Total Investments | 1136 | 440097 | 1315984 | 1757217 |
| &nbsp;&nbsp;&nbsp;Interest Rate Swaps |  | 134 |  | 134 |
| Total Assets | $1136 | $440231 | $1315984 | $1757351 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Liability Description** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| &nbsp;&nbsp;&nbsp;Options Written | $— | $(651) | $— | $(651) |
| Total Liabilities | $— | $(651) | $— | $(651) |

---

The following is a reconciliation of investments for which significant unobservable inputs (Level 3) were used in determining fair value for the nine months ended September 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Senior Secured Loans—First Lien** | **Senior Secured Loans—Second Lien** | **Senior Secured Bonds** | **Unsecured Debt** | **Asset Based Finance** | **Equity/Other** | **Total** |
| Fair value at beginning of period | $944451 | $50188 | $95060 | $63271 | $47046 | $150178 | $1350194 |
| &nbsp;&nbsp;&nbsp;Accretion of discount (amortization of premium) | 5158 | 119 | (50) | 194 |  | 119 | 5540 |
| &nbsp;&nbsp;&nbsp;Net realized gain (loss) | (7136) |  | 68113 |  | 340 | 14567 | 75884 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | 9134 | (3188) | (52430) | 2249 | (7530) | (2110) | (53875) |
| &nbsp;&nbsp;&nbsp;Purchases | 378116 |  |  |  |  | 30683 | 408799 |
| &nbsp;&nbsp;&nbsp;Paid-in-kind interest | 15919 | 4119 | 169 | 4713 |  | 6992 | 31912 |
| &nbsp;&nbsp;&nbsp;Sales and repayments | (297449) |  | (100249) | (42245) | (2392) | (60135) | (502470) |
| &nbsp;&nbsp;Transfers into Level 3<sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Transfers out of Level 3<sup>(1)</sup> |  |  |  |  |  |  |  |
| Fair value at end of period | $1048193 | $51238 | $10613 | $28182 | $37464 | $140294 | $1315984 |
| The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date | $(6800) | $(3188) | $(1885) | $152 | $(7530) | $(18160) | $(37411) |

---

______________

(1)Transfers into and out of Level 3 are deemed to have occurred as a result of, among other factors, changes in liquidity, the depth and consistency of prices from third-party pricing services and the existence of observable trades in the market. Transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the reporting year.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FS Credit Opportunities Corp.

- **b. Investment Company Act file number:** 811-22802

- **c. CIK number of Registrant:** 0001568194

- **d. LEI of Registrant:** 549300XFGO8P7BHG1O49

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

  - **Street Address 1:** 201 ROUSE BOULEVARD

  - **City:** PHILADELPHIA

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19112

  - **Telephone number:** 215-495-1150

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

- **a. Name of Series:** FS Credit Opportunities Corp.

- **c. LEI of Series:** 549300XFGO8P7BHG1O49

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2168128330.26

**Total Liabilities:** $712652745.05

**Net Assets:** $1455475585.21

**Cash Not Reported:** $419923011.19

**Currency Risk Metrics (dv01):**

- 

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

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

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

- **3-Month:** -4776.85000000 | **1-Year:** -148754.98000000 | **5-Year:** -316913.80000000 | **10-Year:** -9015.23000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.52%                | 1.25%                | -1.48%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-15162278.82            | $23865232.70                               |
| Month 2  | $-12277232.38            | $19723540.11                               |
| Month 3  | $-4013248.01             | $-20574192.36                              |

**Designated Index Information**

- **Index Name:** Securities Portfolio VaR

- **Index Identifier:** Designated Reference Portfolio is the Fund's Securities Portfolio Without Derivatives

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WMK LLC                                          | WMK LLC Term Loan                                                           | CUSIP: 000000000<br>LEI: 549300S3DFCMZ5ERWE64 | Long             | LON              | CORP              | US        |  15065645 | PA      | $14557179.37  | 1.00%             | 2028-01-25      | Floating      | 11.07%                | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                           | SPDR S+P 500 ETF TRUST                                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -6700 | NC      | $-328300.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SALT CREEK MIDSTREAM LLC                         | SALT CREEK MIDSTREAM LLC                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27398 | NS      | $890440.53    | 0.06%             |  |  |  | No            |                  3 | On Loan: No      |
| GOAUTO INSURANCE COMPANY                         | GOAUTO INSURANCE COMPANY                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1249480 | PA      | $1249480.05   | 0.09%             | 2030-12-31      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| LR ORION BIDCO LIMITED                           | LR Orion Bidco Limited Term Loan                                            | CUSIP: 000000000<br>LEI: 213800BI2B7HWIIM7J67 | Long             | LON              | CORP              | GB        |  15136676 | PA      | $15458330.18  | 1.06%             | 2031-11-22      | Floating      | 9.45%                 | No            |                  2 | On Loan: No      |
| Pyxus Holding Inc                                | Pyxus Holding Inc 2023 Term Loan                                            | CUSIP: 74738YAD1<br>LEI: 254900VQMPHIAYHG0L57 | Long             | LON              | CORP              | US        |  12234191 | PA      | $11622481.11  | 0.80%             | 2027-12-31      | Floating      | 12.23%                | No            |                  2 | On Loan: No      |
| Accupac LLC                                      | Accupac LLC 2024 Term Loan                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  42852970 | PA      | $38674805.53  | 2.66%             | 2029-12-31      | Floating      | 11.00%                | No            |                  2 | On Loan: No      |
| First Brands Group LLC                           | First Brands Group LLC 2021 Term Loan                                       | CUSIP: 31935HAD9<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |  14838414 | PA      | $5394876.49   | 0.37%             | 2027-03-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| KIK ASS PRODUCTS INC                             | Kik Ass Products Inc Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   6262891 | PA      | $6262891.00   | 0.43%             | 2027-11-13      | Floating      | 10.80%                | No            |                  3 | On Loan: No      |
| Restoration Forest Products Group LLC            | Restoration Forest Products Group LLC 2025 PIK Term Loan                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  25911086 | PA      | $25295697.30  | 1.74%             | 2028-05-05      | Floating      | 14.26%                | No            |                  3 | On Loan: No      |
| Selecta Group BV                                 | SELECTA GROUP BV                                                            | CUSIP: 000000000<br>LEI: 724500T3W7IMQS6AMA30 | N/A              | DE               |  | NL        |        98 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| LOGRHYTHM INC                                    | LogRhythm Inc Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  29090909 | PA      | $28000000.00  | 1.92%             | 2029-07-02      | Floating      | 11.66%                | No            |                  3 | On Loan: No      |
| Circustrix Holdings LLC                          | Circustrix Holdings LLC 2023 Delayed Draw Term Loan                         | CUSIP: 000000000<br>LEI: 254900R6HG4R7FA8UK48 | Long             | LON              | CORP              | US        |   4266667 | PA      | $4338666.67   | 0.30%             | 2028-07-18      | Floating      | 10.91%                | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                           | SPDR S+P 500 ETF TRUST                                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -2750 | NC      | $-118250.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| By Light Professional IT Services LLC            | By Light Professional IT Services LLC Revolver                              | CUSIP: 05615SAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1549296 | PA      | $1526056.33   | 0.10%             | 2031-07-15      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Salt Creek Midstream LLC                         | Salt Creek Midstream LLC 2020 USD 2nd Lien First Out                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  23871608 | PA      | $19604558.25  | 1.35%             | 2027-07-12      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| Circustrix Holdings LLC                          | Circustrix Holdings LLC 2023 Revolver                                       | CUSIP: 000000000<br>LEI: 254900R6HG4R7FA8UK48 | Long             | LON              | CORP              | US        |   2150538 | PA      | $2176075.26   | 0.15%             | 2028-07-18      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| WildBrain Ltd.                                   | WildBrain Ltd 2024 Revolver                                                 | CUSIP: 000000000<br>LEI: 549300WVVSC8SXM80J15 | Long             | LON              | CORP              | CA        |   3373494 | PA      | $3348192.78   | 0.23%             | 2029-07-23      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| Maverick Gaming LLC                              | Maverick Gaming LLC 2024 Second Out Term Loan                               | CUSIP: 57770JAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14846204 | PA      | $8536567.13   | 0.59%             | 2028-06-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Circustrix Holdings LLC                          | Circustrix Holdings LLC 2023 Term Loan                                      | CUSIP: 000000000<br>LEI: 254900R6HG4R7FA8UK48 | Long             | LON              | CORP              | US        |  32877419 | PA      | $33432225.79  | 2.30%             | 2028-07-18      | Floating      | 10.91%                | No            |                  3 | On Loan: No      |
| WMK LLC                                          | WMK LLC Revolver                                                            | CUSIP: 000000000<br>LEI: 549300S3DFCMZ5ERWE64 | Long             | LON              | CORP              | US        |   1904762 | PA      | $1840476.19   | 0.13%             | 2028-01-25      | Floating      | 11.08%                | No            |                  3 | On Loan: No      |
| Bridge Street CLO Ltd                            | Bridge Street CLO II Ltd                                                    | CUSIP: 10806LAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  28560000 | PA      | $21054248.64  | 1.45%             | 2034-07-20      | Variable      | 14.00%                | No            |                  3 | On Loan: No      |
| TravelPro Products Inc                           | TravelPro Products Inc Term Loan                                            | CUSIP: 000000000<br>LEI: 549300K2TFMZB7V0J263 | Long             | LON              | CORP              | US        |  41387500 | PA      | $37507421.88  | 2.58%             | 2028-10-24      | Floating      | 12.00%                | No            |                  3 | On Loan: No      |
| CRUSOE ENERGY SYSTEMS LLC                        | Crusoe Energy Systems LLC Fixed Term Loan                                   | CUSIP: 000000000<br>LEI: 549300W4OD94I5O9DV29 | Long             | LON              | CORP              | US        |  22759322 | PA      | $23328304.65  | 1.60%             | 2029-01-05      | Fixed         | 16.00%                | No            |                  3 | On Loan: No      |
| Array Midco Corp                                 | Array Midco Corp 2024 Delayed Draw Term Loan                                | CUSIP: 000000000<br>LEI: 2549006QJO7TR3GSGI51 | Long             | LON              | CORP              | CA        |   7547195 | PA      | $7264175.39   | 0.50%             | 2029-12-31      | Floating      | 12.75%                | No            |                  2 | On Loan: No      |
| Pretium Packaging LLC                            | Pretium Packaging LLC First Out Term Loan A                                 | CUSIP: 74142KAJ8<br>LEI: 254900S6SXME9YWLU075 | Long             | LON              | CORP              | US        |  22764848 | PA      | $22722164.01  | 1.56%             | 2028-10-02      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| Monitronics International Inc                    | Monitronics International Inc 2023 Exit Term Loan                           | CUSIP: 60945HAG9<br>LEI: SCAKOG18M6QWWML8YF46 | Long             | LON              | CORP              | US        |  43170439 | PA      | $43224401.59  | 2.97%             | 2028-06-30      | Floating      | 11.76%                | No            |                  2 | On Loan: No      |
| GUITAR CENTER INC                                | GUITAR CENTER INC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10129525 | PA      | $0.00         | 0.00%             | 2032-08-19      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Bridge Street CLO Ltd                            | Bridge Street CLO I Ltd                                                     | CUSIP: 10805YAU5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3500000 | PA      | $3513786.50   | 0.24%             | 2037-07-20      | Floating      | 11.38%                | No            |                  2 | On Loan: No      |
| TCFIII Owl Finance LLC                           | TCFIII Owl Finance LLC Term Loan                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  68653491 | PA      | $61273240.74  | 4.21%             | 2027-01-30      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| Bridge Street CLO Ltd                            | Bridge Street CLO I Ltd                                                     | CUSIP: 10806AAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  28200000 | PA      | $21551018.10  | 1.48%             | 2037-07-20      | Variable      | 13.00%                | No            |                  3 | On Loan: No      |
| Salt Creek Midstream LLC                         | Salt Creek Midstream LLC 2020 USD 1st Lien Fixed Note                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  22029179 | PA      | $21561058.79  | 1.48%             | 2026-07-12      | Floating      | 8.00%                 | No            |                  3 | On Loan: No      |
| GOAUTO                                           | GOAUTO                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18760 | NS      | $1318452.80   | 0.09%             |  |  |  | No            |                  3 | On Loan: No      |
| SUPER REGO, LLC                                  | SUPER REGO, LLC                                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    139285 | NS      | $4610333.50   | 0.32%             |  |  |  | No            |                  3 | On Loan: No      |
| Phoenix Rehabilitation And Health Services, Inc. | Phoenix Rehabilitation And Health Services, Inc. Revolver                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3823529 | PA      | $3747058.82   | 0.26%             | 2030-09-29      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Salt Creek Midstream LLC                         | Salt Creek Midstream LLC 2020 USD 2nd Lien Last Out                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3761604 | PA      | $2539082.63   | 0.17%             | 2027-07-12      | Floating      | 7.50%                 | No            |                  3 | On Loan: No      |
| RECOVERY SOLUTIONS                               | RECOVERY SOLUTIONS                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    839847 | NS      | $19366863.29  | 1.33%             |  |  |  | No            |                  3 | On Loan: No      |
| MOUNTAINEER MERGER CORPORATION                   | Mountaineer Merger Corporation 2025 Term Loan                               | CUSIP: 62450LAD0<br>LEI: 254900GJKZ8ZX0D5KG41 | Long             | LON              | CORP              | US        |   2526724 | PA      | $2526723.91   | 0.17%             | 2030-06-14      | Floating      | 12.16%                | No            |                  3 | On Loan: No      |
| Super Rego LLC                                   | Super Rego LLC 2024 PIK Term Loan                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  32186751 | PA      | $32307451.47  | 2.22%             | 2030-03-30      | Fixed         | 15.00%                | No            |                  3 | On Loan: No      |
| Riddell Inc                                      | Riddell Inc Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11711050 | PA      | $11550023.06  | 0.79%             | 2029-03-29      | Floating      | 10.16%                | No            |                  3 | On Loan: No      |
| United Gaming LLC                                | United Gaming LLC Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  27038130 | PA      | $25753818.35  | 1.77%             | 2026-11-30      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| DOMAIN TIMBERLAKE ISSUER, LLC                    | DOMAIN TIMBERLAKE ISSUER, LLC                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23200000 | PA      | $23577000.00  | 1.62%             | 2029-12-20      | Variable      | 10.82%                | No            |                  3 | On Loan: No      |
| 545 Lago Mar East Development, LTD.              | 545 Lago Mar East Development LTD Fixed Delayed Draw Term Loan              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14557465 | PA      | $14975992.16  | 1.03%             | 2028-08-15      | Fixed         | 14.50%                | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                           | SPDR S+P 500 ETF TRUST                                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -3850 | NC      | $-204050.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| MASSIV BRANDS, LLC                               | MASSIV BRANDS, LLC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    345455 | NS      | $941237.40    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| GRASS VALLEY USA LLC                             | GRASS VALLEY USA LLC                                                        | CUSIP: 000000000<br>LEI: 5493008N7G0NS61RBC64 | Long             | DBT              | CORP              | US        |   2578923 | PA      | $1263562.42   | 0.09%             | 2029-09-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| GUITAR CENTER INC                                | Guitar Center Inc                                                           | CUSIP: 402040AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  38850000 | PA      | $33022500.00  | 2.27%             | 2029-01-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Accupac LLC                                      | Accupac LLC 2024 Revolver                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6267391 | PA      | $5656320.65   | 0.39%             | 2029-12-31      | Floating      | 11.32%                | No            |                  2 | On Loan: No      |
| WMK LLC                                          | WMK LLC Delayed Draw Term Loan                                              | CUSIP: 000000000<br>LEI: 549300S3DFCMZ5ERWE64 | Long             | LON              | CORP              | US        |   2339957 | PA      | $2260983.63   | 0.16%             | 2028-01-25      | Floating      | 11.07%                | No            |                  3 | On Loan: No      |
| SHEPHERD INTERMEDIATE LLC                        | Shepherd Intermediate LLC Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12500000 | PA      | $12390625.00  | 0.85%             | 2030-07-10      | Floating      | 11.58%                | No            |                  3 | On Loan: No      |
| Aptim Crop                                       | Aptim Crop Term Loan                                                        | CUSIP: 03835NAB0<br>LEI: 5493007OBZ8YTJ6O7E92 | Long             | LON              | CORP              | US        |  27500000 | PA      | $27362500.00  | 1.88%             | 2029-05-23      | Floating      | 11.66%                | No            |                  2 | On Loan: No      |
| OLIBRE BORROWER LLC                              | Olibre Borrower LLC Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  27790000 | PA      | $27546837.50  | 1.89%             | 2030-01-03      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| Core Health & Fitness LLC                        | Core Health & Fitness LLC Term Loan                                         | CUSIP: 000000000<br>LEI: 549300MQY30Y1P6IIE82 | Long             | LON              | CORP              | US        |  39500000 | PA      | $40882500.00  | 2.81%             | 2029-06-18      | Floating      | 12.17%                | No            |                  3 | On Loan: No      |
| NEW GIVING ACQUISITION, INC                      | NEW GIVING ACQUISITION, INC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    205227 | NS      | $26566698.58  | 1.83%             |  |  |  | No            |                  3 | On Loan: No      |
| Grass Valley USA LLC                             | Grass Valley USA LLC Delayed Draw Term Loan                                 | CUSIP: 000000000<br>LEI: 5493008N7G0NS61RBC64 | Long             | LON              | CORP              | US        |   4427194 | PA      | $4427193.80   | 0.30%             | 2029-03-20      | Fixed         | 1.50%                 | No            |                  3 | On Loan: No      |
| FIRST BRANDS GROUP LLC                           | First Brands Group LLC 2025 Term Loan                                       | CUSIP: 000000000<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |  21230230 | PA      | $7324429.36   | 0.50%             | 2027-03-30      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| FUTURE PAK LLC                                   | Future Pak LLC 2025 Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  19300000 | PA      | $18914000.00  | 1.30%             | 2030-03-21      | Floating      | 10.76%                | No            |                  2 | On Loan: No      |
| LANCE EAST FINANCE PTY LTD                       | Lance East Finance Pty Ltd Term Loan                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AU        |  25000000 | PA      | $23750000.00  | 1.63%             | 2028-08-20      | Floating      | 11.55%                | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                           | SPDR S+P 500 ETF TRUST                                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      2750 | NC      | $203500.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MOUNTAINEER MERGER CORPORATION                   | Mountaineer Merger Corporation 2025 1st Lien Delayed Draw Term Loan         | CUSIP: 62450LAE8<br>LEI: 254900GJKZ8ZX0D5KG41 | Long             | LON              | CORP              | US        |   2099291 | PA      | $2099291.28   | 0.14%             | 2030-06-14      | Floating      | 12.16%                | No            |                  3 | On Loan: No      |
| Project Granite Buyer Inc                        | Project Granite Buyer Inc Delayed Draw Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    962000 | PA      | $951177.50    | 0.07%             | 2031-12-31      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| PIONEER MIDCO LLC                                | Pioneer Midco LLC PIK Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  27097868 | PA      | $27368846.24  | 1.88%             | 2030-11-18      | Fixed         | 11.63%                | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                           | SPDR S+P 500 ETF TRUST                                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      6700 | NC      | $569500.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MBS Services Holdings, LLC                       | MBS Services Holdings LLC 2024 2nd Lien PIK Term Loan                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  35721177 | PA      | $29087762.34  | 2.00%             | 2030-09-20      | Floating      | 17.00%                | No            |                  3 | On Loan: No      |
| CCS Acquisition Inc                              | CCS Acquisition Inc Revolver                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4928571 | PA      | $4928571.43   | 0.34%             | 2030-12-30      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                           | SPDR S+P 500 ETF TRUST                                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      3100 | NC      | $6200.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Firmus Metal Singapore Pe Ltd.                   | Firmus Metal Singapore Pe Ltd Term Loan                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |  17102673 | PA      | $17102673.46  | 1.18%             | 2029-06-12      | Floating      | 15.16%                | No            |                  2 | On Loan: No      |
| Omnimax International, LLC                       | Omnimax International LLC 2024 Delayed Draw Term Loan                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9391876 | PA      | $9227518.38   | 0.63%             | 2030-12-06      | Floating      | 9.92%                 | No            |                  3 | On Loan: No      |
| Neovia Logistics Services LLC                    | Neovia Logistics Services LLC 2022 Term Loan A                              | CUSIP: 000000000<br>LEI: 549300U8IBHL5NVONW09 | Long             | LON              | CORP              | US        |  50582159 | PA      | $50708614.24  | 3.48%             | 2027-11-01      | Floating      | 13.24%                | No            |                  2 | On Loan: No      |
| J CREW GROUP, INC.                               | J CREW GROUP, INC.                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    412738 | NS      | $516128.87    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| NELSON GLOBAL PRODUCTS INC                       | NELSON GLOBAL PRODUCTS INC                                                  | CUSIP: 000000000<br>LEI: 549300ZWR5EWWXWQSL88 | Long             | EP               | CORP              | US        |      1268 | NS      | $1267500.00   | 0.09%             |  |  |  | No            |                  3 | On Loan: No      |
| MEDICINE MAN TECHNOLOGIES, INC                   | MEDICINE MAN TECHNOLOGIES, INC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17287638 | PA      | $9005705.35   | 0.62%             | 2026-12-03      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| United Gaming LLC                                | United Gaming LLC Delayed Draw Term Loan                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  18535518 | PA      | $17655081.20  | 1.21%             | 2026-11-30      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Claros Mortgage Trust Inc                        | Claros Mortgage Trust Inc 2021 Term Loan B                                  | CUSIP: 18269PAC6<br>LEI: 549300Z9LU2CZ3K30C16 | Long             | LON              |  | US        |  20130024 | PA      | $19500961.06  | 1.34%             | 2026-08-09      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| LOGRHYTHM INC                                    | LogRhythm Inc Revolver                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2909091 | PA      | $2800000.00   | 0.19%             | 2029-07-02      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| MOUNTAINEER ULTIMATE HLDGS LLC                   | MOUNTAINEER ULTIMATE HLDGS LLC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  13788310 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Recovery Solutions Parent LLC                    | Recovery Solutions Parent LLC Term Loan                                     | CUSIP: 75627HAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  15270632 | PA      | $15270631.53  | 1.05%             | 2030-01-28      | Floating      | 11.50%                | No            |                  3 | On Loan: No      |
| Riddell Inc                                      | Riddell Inc Delayed Draw Term Loan                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1250000 | PA      | $1232812.50   | 0.08%             | 2029-03-29      | Fixed         | 1.50%                 | No            |                  3 | On Loan: No      |
| Ascena Retail Group Inc                          | Ascena Retail Group Inc 2015 Term Loan B                                    | CUSIP: 04349TAF5<br>LEI: 549300315OFTD1VN3V49 | Long             | LON              | CORP              | US        |  35524814 | PA      | $128955.08    | 0.01%             | 2023-08-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENN FOSTER INC.                                 | PENN FOSTER INC.                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  70658799 | PA      | $63062978.37  | 4.33%             | 2027-11-17      | Floating      | 10.75%                | No            |                  3 | On Loan: No      |
| New WPCC Parent LLC                              | New WPCC Parent LLC Term Loan                                               | CUSIP: 64929VAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10268493 | PA      | $10268493.00  | 0.71%             | 2030-05-09      | Floating      | 13.66%                | No            |                  2 | On Loan: No      |
| Phoenix Rehabilitation And Health Services, Inc. | Phoenix Rehabilitation And Health Services, Inc. Term Loan A                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  19882353 | PA      | $19484705.68  | 1.34%             | 2030-09-29      | Floating      | 9.99%                 | No            |                  2 | On Loan: No      |
| VORTEX OPCO LLC                                  | Vortex Opco LLC First Out Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |   5000000 | PA      | $5047500.00   | 0.35%             | 2030-04-30      | Floating      | 10.25%                | No            |                  2 | On Loan: No      |
| Phoenix Rehabilitation And Health Services, Inc. | Phoenix Rehabilitation And Health Services, Inc. Delayed Draw Term Loan     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3823529 | PA      | $3785294.12   | 0.26%             | 2030-09-29      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| 24 Hour Fitness Worldwide Inc                    | 24 Hour Fitness Worldwide Inc 2025 Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  31360143 | PA      | $31085742.17  | 2.14%             | 2030-04-30      | Floating      | 10.66%                | No            |                  3 | On Loan: No      |
| Revlon Intermediate Holdings IV LLC              | Revlon Intermediate Holdings IV LLC 2023 Exit Term Loan                     | CUSIP: 000000000<br>LEI: 2MKZBE7NMX7EJWQLHS95 | Long             | LON              | CORP              | US        |  14925000 | PA      | $14806794.00  | 1.02%             | 2028-05-02      | Floating      | 10.95%                | No            |                  3 | On Loan: No      |
| GRASS VALLEY USA LLC                             | GRASS VALLEY USA LLC                                                        | CUSIP: 000000000<br>LEI: 5493008N7G0NS61RBC64 | Long             | DBT              | CORP              | US        |    284795 | PA      | $139537.50    | 0.01%             | 2029-09-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                           | SPDR S+P 500 ETF TRUST                                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -3100 | NC      | $-3100.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| MONITRONICS INTERNATIONAL INC                    | MONITRONICS INTERNATIONAL INC                                               | CUSIP: 000000000<br>LEI: SCAKOG18M6QWWML8YF46 | Long             | EC               | CORP              | US        |    997489 | NS      | $12967357.00  | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Project Granite Buyer Inc                        | Project Granite Buyer Inc Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10354256 | PA      | $10237770.87  | 0.70%             | 2031-12-31      | Floating      | 9.75%                 | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                     | TruGreen Limited Partnership 2020 Term Loan                                 | CUSIP: 89787RAH5<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |  13654436 | PA      | $13432551.73  | 0.92%             | 2027-11-02      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| Grass Valley USA LLC                             | Grass Valley USA LLC Term Loan C                                            | CUSIP: 000000000<br>LEI: 5493008N7G0NS61RBC64 | Long             | LON              | CORP              | US        |   6171804 | PA      | $6171804.22   | 0.42%             | 2029-03-20      | Floating      | 13.50%                | No            |                  3 | On Loan: No      |
| Array Midco Corp                                 | Array Midco Corp 2024 Term Loan                                             | CUSIP: 000000000<br>LEI: 2549006QJO7TR3GSGI51 | Long             | LON              | CORP              | CA        |  25003366 | PA      | $24065739.48  | 1.65%             | 2029-12-31      | Floating      | 10.49%                | No            |                  2 | On Loan: No      |
| SHEPHERD INTERMEDIATE LLC                        | Shepherd Intermediate LLC Revolver                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    694444 | PA      | $688368.05    | 0.05%             | 2030-07-10      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Grass Valley USA LLC                             | Grass Valley USA LLC Term Loan D                                            | CUSIP: 000000000<br>LEI: 5493008N7G0NS61RBC64 | Long             | LON              | CORP              | US        |   2645059 | PA      | $2645058.99   | 0.18%             | 2029-03-20      | Floating      | 13.50%                | No            |                  3 | On Loan: No      |
| SALT CREEK MIDSTREAM LLC                         | SALT CREEK MIDSTREAM LLC                                                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CCS Acquisition, Inc.                            | CCS Acquisition Inc Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  17981071 | PA      | $17981071.43  | 1.24%             | 2030-12-30      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| RIDDELL INC                                      | RIDDELL INC                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7068938 | PA      | $7546091.34   | 0.52%             | 2029-10-01      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| Omnimax International, LLC                       | Omnimax International LLC 2024 Term Loan B                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  30408124 | PA      | $29875981.62  | 2.05%             | 2030-12-06      | Floating      | 9.92%                 | No            |                  3 | On Loan: No      |
| MLN US HOLDCO LLC                                | MLN US HoldCo LLC 2025 PIK Exit Term Loan A2                                | CUSIP: 55292HAU7<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |    302414 | PA      | $215470.10    | 0.01%             | 2030-06-20      | Floating      | 12.14%                | No            |                  2 | On Loan: No      |
| LASERSHIP INC                                    | LaserShip Inc 2024 Third Out Term Loan E                                    | CUSIP: 51809EAQ8<br>LEI: 254900NGHREGOQUFUT53 | Long             | LON              | CORP              | US        |  22086241 | PA      | $6736303.50   | 0.46%             | 2029-08-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Alegeus Technologies Holdings Corporation        | Alegeus Technologies Holdings Corporation 2024 Term Loan B                  | CUSIP: 01446CAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  29662500 | PA      | $29217562.50  | 2.01%             | 2029-11-05      | Floating      | 11.06%                | No            |                  3 | On Loan: No      |
| SALT CREEK MIDSTREAM LLC                         | SALT CREEK MIDSTREAM LLC                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       196 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GRASS VALLEY USA LLC                             | GRASS VALLEY USA LLC                                                        | CUSIP: 000000000<br>LEI: 5493008N7G0NS61RBC64 | Long             | DBT              | CORP              | US        |    596692 | PA      | $292353.73    | 0.02%             | 2029-09-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| MOUNTAINEER ULTIMATE HLDGS LLC                   | MOUNTAINEER ULTIMATE HLDGS LLC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |  13788310 | NS      | $7437414.41   | 0.51%             |  |  |  | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                           | SPDR S+P 500 ETF TRUST                                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      3850 | NC      | $361900.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL ENTERTAINMENT                          | Universal Entertainment Corp                                                | CUSIP: 91349WAC2<br>LEI: 353800BBJTHSMSQ31V91 | Long             | DBT              | CORP              | JP        |  25375000 | PA      | $25213379.01  | 1.73%             | 2029-08-01      | Fixed         | 9.88%                 | No            |                  3 | On Loan: No      |
| P.F. Chang's China Bistro Inc.                   | PF Chang's China Bistro Inc 2024 Term Loan                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  22261905 | PA      | $17419940.47  | 1.20%             | 2029-09-03      | Floating      | 10.56%                | No            |                  2 | On Loan: No      |
| RUNITONETIME LLC                                 | RunItOneTime LLC Term Loan                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    636272 | PA      | $611800.37    | 0.04%             | 2026-07-07      | Floating      | 16.82%                | No            |                  3 | On Loan: No      |
| Selecta Group BV                                 | SELECTA GROUP BV                                                            | CUSIP: 000000000<br>LEI: 724500T3W7IMQS6AMA30 | Long             | DBT              | CORP              | NL        |      6632 | PA      | $0.00         | 0.00%             | 2022-08-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| MedPro                                           | MedPro Term Loan                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  26500000 | PA      | $26367500.00  | 1.81%             | 2027-12-31      | Floating      | 10.39%                | No            |                  3 | On Loan: No      |
| Neovia Logistics Services LLC                    | Neovia Logistics Services LLC 2022 Pre-funding Term Loan                    | CUSIP: 000000000<br>LEI: 549300U8IBHL5NVONW09 | Long             | LON              | CORP              | US        |   2119084 | PA      | $2124381.93   | 0.15%             | 2027-11-01      | Floating      | 13.18%                | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                     | TruGreen Limited Partnership 2020 2nd Lien Term Loan                        | CUSIP: 89787RAK8<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |  10000000 | PA      | $9058300.00   | 0.62%             | 2028-11-02      | Floating      | 13.07%                | No            |                  2 | On Loan: No      |
| MLN US HOLDCO LLC                                | MLN US HOLDCO LLC                                                           | CUSIP: 000000000<br>LEI: 549300QKU7NPW6O86862 | Long             | EC               | CORP              | US        |     13210 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LR ORION BIDCO LIMITED                           | LR Orion Bidco Limited Delayed Draw Term Loan                               | CUSIP: 000000000<br>LEI: 213800BI2B7HWIIM7J67 | Long             | LON              | CORP              | GB        |   2242470 | PA      | $2290122.99   | 0.16%             | 2031-11-22      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Grass Valley USA LLC                             | Grass Valley USA LLC Term Loan A                                            | CUSIP: 000000000<br>LEI: 5493008N7G0NS61RBC64 | Long             | LON              | CORP              | US        |   2645059 | PA      | $2645058.98   | 0.18%             | 2029-03-20      | Floating      | 13.50%                | No            |                  3 | On Loan: No      |
| NEW WPCC PARENT, LLC                             | NEW WPCC PARENT, LLC                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    404654 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MASSIV BRANDS LLC                                | Massiv Brands LLC Fixed PIK Term Loan                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  38475000 | PA      | $37945968.75  | 2.61%             | 2030-07-02      | Fixed         | 15.00%                | No            |                  3 | On Loan: No      |
| ONBE INC                                         | Onbe Inc Term Loan                                                          | CUSIP: 000000000<br>LEI: 254900Q5HXUEJ97OXT27 | Long             | LON              | CORP              | US        |  26797500 | PA      | $26630015.63  | 1.83%             | 2031-07-25      | Floating      | 9.66%                 | No            |                  3 | On Loan: No      |
| IXS Holdings Inc                                 | IXS Holdings Inc 2025 Repriced Term Loan B                                  | CUSIP: 45074HAC2<br>LEI: 254900I3GPHU9VH9Z454 | Long             | LON              | CORP              | US        |  29196342 | PA      | $29172109.26  | 2.00%             | 2029-09-05      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| RUNITONETIME LLC                                 | RunItOneTime LLC 2nd Amendment Final New Money DIP Term Loan                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1657032 | PA      | $1593301.23   | 0.11%             | 2026-04-16      | Floating      | 16.66%                | No            |                  2 | On Loan: No      |
| By Light Professional IT Services LLC            | By Light Professional IT Services LLC Term Loan                             | CUSIP: 05615SAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  20450704 | PA      | $20143943.67  | 1.38%             | 2031-07-15      | Floating      | 9.66%                 | No            |                  3 | On Loan: No      |
| SHEPHERD INTERMEDIATE LLC                        | SHEPHERD INTERMEDIATE LLC DELAYED DRAW TERM LOAN                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3472222 | PA      | $3441840.28   | 0.24%             | 2030-07-10      | Fixed         | 1.00%                 | No            |                  3 | On Loan: No      |
| First Brands Group LLC                           | First Brands Group LLC 2022 Incremental Term Loan                           | CUSIP: 31935HAG2<br>LEI: 2549005IXRZR7KSBJD91 | Long             | LON              | CORP              | US        |   4875293 | PA      | $1776434.87   | 0.12%             | 2027-03-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| NELSON GLOBAL PRODUCTS INC                       | NELSON GLOBAL PRODUCTS INC                                                  | CUSIP: 000000000<br>LEI: 549300ZWR5EWWXWQSL88 | Long             | EC               | CORP              | US        |     43998 | NS      | $75202.51     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| 24 Hour Fitness Worldwide Inc                    | 24 Hour Fitness Worldwide Inc 2025 Revolver                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3442623 | PA      | $3412500.00   | 0.23%             | 2030-04-30      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Pyxus Holding Inc                                | Pyxus Holding Inc 2023 First Lien Term Loan                                 | CUSIP: 74738YAF6<br>LEI: 254900VQMPHIAYHG0L57 | Long             | LON              | CORP              | US        |   8156127 | PA      | $8196907.74   | 0.56%             | 2027-12-31      | Floating      | 12.23%                | No            |                  2 | On Loan: No      |
| Project Granite Buyer Inc                        | Project Granite Buyer Inc Revolver                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1605500 | PA      | $1589445.00   | 0.11%             | 2030-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| WildBrain Ltd.                                   | WildBrain Ltd 2024 Term Loan                                                | CUSIP: 000000000<br>LEI: 549300WVVSC8SXM80J15 | Long             | LON              | CORP              | CA        |  30933042 | PA      | $30701044.32  | 2.11%             | 2029-07-23      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| RUNITONETIME LLC                                 | RunItOneTime LLC New Money DIP Term Loan                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    524963 | PA      | $504772.25    | 0.03%             | 2026-04-16      | Floating      | 16.67%                | No            |                  3 | On Loan: No      |
| Maverick Gaming LLC                              | Maverick Gaming LLC 2024 PIK Term Loan                                      | CUSIP: 57770JAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4572640 | PA      | $4183965.76   | 0.29%             | 2028-06-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KIK ASS PRODUCTS INC                             | Kik Ass Products Inc Delayed Draw Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |  15367475 | PA      | $15367474.75  | 1.06%             | 2027-11-13      | Floating      | 10.80%                | No            |                  3 | On Loan: No      |
| Phoenix Rehabilitation And Health Services, Inc. | Phoenix Rehabilitation And Health Services, Inc. PIK Term Loan B            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4970588 | PA      | $4871176.48   | 0.33%             | 2030-09-29      | Floating      | 14.00%                | No            |                  2 | On Loan: No      |
| Grass Valley USA LLC                             | Grass Valley USA LLC Term Loan B                                            | CUSIP: 000000000<br>LEI: 5493008N7G0NS61RBC64 | Long             | LON              | CORP              | US        |   6309988 | PA      | $6309987.78   | 0.43%             | 2029-03-20      | Floating      | 13.50%                | No            |                  3 | On Loan: No      |
| Arrow Purchaser Inc                              | Arrow Purchaser Inc Term Loan                                               | CUSIP: 00160KAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12270833 | PA      | $11595937.48  | 0.80%             | 2026-04-15      | Floating      | 11.01%                | No            |                  2 | On Loan: No      |
| Barclays Capital, Inc.                           | Long: 99S24K7B9 IRS USD R F  3.34200 / Short: 99S24K7B9 IRS USD P V 03M0BFR | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DIR              |  | US        |  50000000 | OU      | $134184.50    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Powerhouse Intermediate LLC                      | Powerhouse Intermediate LLC 2022 Term Loan B                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  36615825 | PA      | $36524285.71  | 2.51%             | 2027-01-12      | Floating      | 14.51%                | No            |                  3 | On Loan: No      |
| Ancile Solutions, Inc.                           | Ancile Solutions Inc 2021 PIK Term Loan                                     | CUSIP: 03332MAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  30507852 | PA      | $31499357.63  | 2.16%             | 2026-06-11      | Floating      | 14.28%                | No            |                  2 | On Loan: No      |
| NEW WPCC PARENT, LLC                             | NEW WPCC PARENT, LLC                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5206811 | PA      | $4657632.02   | 0.32%             | 2030-12-31      | Fixed         | 13.00%                | No            |                  3 | On Loan: No      |
| LR ORION BIDCO LIMITED                           | LR Orion Bidco Limited GBP Revolver                                         | CUSIP: 000000000<br>LEI: 213800BI2B7HWIIM7J67 | Long             | LON              | CORP              | GB        |   1607238 | PA      | $2160608.56   | 0.15%             | 2031-05-22      | Fixed         | 0.83%                 | No            |                  2 | On Loan: No      |
| Lifescan Global Corporation                      | Lifescan Global Corporation 2023 Term Loan                                  | CUSIP: 53227PAP5<br>LEI: 549300VL0F83S4LR4105 | Long             | LON              | CORP              | US        |  35214010 | PA      | $33981519.89  | 2.33%             | 2026-12-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Titan Purchaser Inc                              | Titan Purchaser Inc Term Loan B                                             | CUSIP: 88831XAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  14970992 | PA      | $15077061.04  | 1.04%             | 2030-03-01      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| APG Intermediate Holdings Corporation            | APG Intermediate Holdings Corporation 2024 Term Loan                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  22827500 | PA      | $22827500.00  | 1.57%             | 2029-12-27      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| MBS SERVICES CAPITAL, LLC                        | MBS SERVICES CAPITAL, LLC                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    522382 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-29

**Name of Applicant:** FS Credit Opportunities Corp.

**Signature:** Edward T Gallivan Jr

**Name of Signer:** Edward T Gallivan Jr

**Title:** Chief Financial Officer