Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% Aerospace & Defense - 3.01%
Atlas CC Acquisition Corp, First Lien Term Loan:
3M SOFR + 1.00%, 05/01/2029	$	188,740	$	40,003
3M SOFR + 4.25%, 05/01/2029		1,300,725		275,682
Caci International Inc Term Loan (02/26) 1LIEN USD, First Lien Term Loan 1M SOFR + 1.75%, 02/28/2033		217,260		217,464
Galileo Parent Inc Term Loan (03/26) USD (03/33), First Lien Term Loan 3M SOFR + 4.50%, 03/03/2033		1,197,394		1,176,069
Karman Holdings, Inc., First Lien Term Loan 3M SOFR + 2.75%, 04/01/2032		914,780		916,499
Peraton Corp., First Lien B Term Loan 3M SOFR + 3.75%, 0.75% Floor, 02/01/2028		1,350,183		1,155,534
Signia Aerospace LLC, First Lien Term Loan 3M SOFR + 2.75%, 12/11/2031		425,814		427,411
Transdigm Inc, First Lien Term Loan 1M SOFR + 2.50%, 08/19/2032		466,684		467,200
				4,675,862
Air Freight & Logistics - 0.60%
AIT Worldwide Logistics Holdings, Inc., First Lien Term Loan 3M SOFR + 4.00%, 0.75% Floor, 04/08/2030		366,906		368,052
Jetblue 8/24 TLB 1L, First Lien Term Loan 3M SOFR + 4.75%, 08/27/2029		616,037		566,446
				934,498
Automobile Components - 0.95%
Belron Finance 2019 LLC, First Lien Term Loan 3M SOFR + 2.00%, 0.50% Floor, 10/16/2031		562,861		563,353
Tenneco, Inc., First Lien Term Loan 3M CME TERM SOFR + 5.00%, 0.50% Floor, 11/17/2028		928,345		907,457
				1,470,810
Beverages - 1.19%
Primo Brands Corp., First Lien Term Loan 3M SOFR + 0.00%, 0.50% Floor, 03/19/2031		1,290,935		1,294,562
Sazerac Co Inc, First Lien Term Loan 1M SOFR + 2.00%, 07/09/2032		555,681		556,029
				1,850,591
Biotechnology - 0.66%
Alkermes Inc, First Lien Term Loan 1M SOFR + 2.75%, 08/12/2031		145,046		146,316
Genmab A/S, First Lien Term Loan 3M SOFR + 3.00%, 12/13/2032		873,006		877,301
				1,023,617
Broadline Retail - 0.58%
Peer Holding III B.V., First Lien Term Loan 3M SOFR + 2.25%, 09/29/2032		280,197		278,138
Peer Holding III BV, First Lien Term Loan:
3M SOFR + 2.50%, 10/28/2030		160,182		160,157
3M SOFR + 3.00%, 06/20/2031		469,758		469,392
				907,687
Building Products - 1.18%
LBM Acquisition LLC, First Lien Term Loan 1M SOFR + 3.75%, 06/06/2031		419,697		338,697
Miter Brands Acquisition Holdco Inc., First Lien Term Loan 3M SOFR + 2.75%, 03/28/2031		554,840		512,994
Resideo Funding Inc, First Lien Term Loan 3M SOFR + 2.00%, 08/09/2032		243,525		243,221
Resideo Funding, Inc., First Lien Term Loan 6M SOFR + 2.00%, 06/13/2031		199,041		198,544
Sunbelt Transformer 10/24, First Lien Term Loan 3M SOFR + 4.25%, 10/24/2031		261,422		261,912
Wilsonart LLC, First Lien Term Loan 3M SOFR + 4.25%, 08/05/2031		314,014		274,370
				1,829,738
Capital Markets - 5.62%
Apex Group Treasury LLC, First Lien Term Loan 3M SOFR + 3.50%, 02/27/2032		1,182,157		1,080,686
Aretec Group, Inc, First Lien Term Loan 1M SOFR + 3.00%, 08/09/2030		1,512,344		1,495,413
Ascensus Holdings, Inc., First Lien Term Loan 1M SOFR + 3.00%, 0.50% Floor, 08/02/2028		374,457		369,074

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% (continued) Capital Markets - 5.62% (continued)
BetClic Everest Group SAS, First Lien Term Loan 3M SOFR + 0.00%, 12/09/2031	$	340,624	$	340,305
Citadel Securities Global Holdings LLC, First Lien Term Loan 3M SOFR + 2.00%, 10/31/2031		365,931		366,771
CITCO FDG LLC TLB 1L, First Lien Term Loan 3M SOFR + 2.00%, 01/31/2033		557,258		555,842
EP Wealth Advisors, LLC, First Lien Term Loan 3M SOFR + 0.00%, 10/18/2032		156,990		157,284
Focus Financial Partners, LLC, First Lien Term Loan 1M SOFR + 2.50%, 09/15/2031		1,162,636		1,127,693
GTCR Everest Borrower, LLC Asset Mark 1/26 (01/26), First Lien Term Loan 3M SOFR + 2.50%, 09/05/2031		73,186		72,752
Hudson River Trading LLC, First Lien Term Loan 1M SOFR + 2.50%, 03/18/2030		613,318		611,531
ITG Communications LLC, First Lien Term Loan 3M SOFR + 0.00%, 07/09/2031^(b)		431,500		412,083
Jane Street Group LLC, First Lien Term Loan 3M SOFR + 2.00%, 12/15/2031		222,387		218,596
June Purchaser, LLC, First Lien Term Loan 3M SOFR + 3.25%, 11/28/2031		1,459		1,459
Jupiter Borrower, Inc TLB 1L, First Lien Term Loan 3M SOFR + 0.00%, 03/25/2033^(b)		258,459		258,459
Osaic Holdings Inc, First Lien Term Loan 3M SOFR + 2.50%, 07/30/2032		1,306,106		1,284,151
Superannuation & Investments US LLC, First Lien Term Loan 1M SOFR + 2.50%, 12/01/2028		82,672		82,765
Victory Capital Holdings Inc, First Lien Term Loan 3M SOFR + 2.00%, 09/23/2032		298,149		297,814
				8,732,678
Chemicals - 2.36%
Discovery Purchaser/Bayer/Envu 8/22 TL, First Lien Term Loan 3M SOFR + 3.75%, 10/04/2029		1,061,663		1,047,198
Fortis 333 Inc, First Lien Term Loan 1M SOFR + 3.50%, 03/29/2032		343,275		334,549
Nouryon Finance BV, First Lien Term Loan 6M SOFR + 3.25%, 04/03/2028		732,171		719,358
Olympus Water US Holding Corp, First Lien Term Loan 3M SOFR + 3.25%, 11/03/2032		175,234		169,375
SCIL USA Holdings LLC, First Lien Term Loan 3M SOFR + 0.00%, 10/29/2032		579,457		578,011
Touchdown Acquirer Inc TERM (01/26) 1LIEN USD, First Lien Term Loan 3M SOFR + 2.50%, 02/21/2031		447,297		441,706
Vibrantz Color Solutions LLC A2 TL (02/26) 1LIEN, First Lien Term Loan 3M SOFR + 0.00%, 04/30/2030		623,361		383,367
				3,673,564
Commercial Services & Supplies - 5.48%
Action Environmental Group, Inc., First Lien Term Loan 3M SOFR + 3.00%, 0.50% Floor, 10/24/2030		1,653,035		1,650,283
Allied Universal Holdco LLC, First Lien Term Loan 1M SOFR + 3.25%, 08/20/2032		1,448,096		1,449,906
ARCWOOD ENVIRONMENTAL INC TLB 1L, First Lien Term Loan 3M SOFR + 0.00%, 03/02/2033		217,260		217,803
Belfor Holdings Inc, First Lien Term Loan 1M SOFR + 2.75%, 11/04/2030		227,879		228,592
Forgent Intermediate IV LLC, First Lien Term Loan 3M SOFR + 3.00%, 12/20/2032		313,979		315,844
HNI Corp, First Lien Term Loan 3M SOFR + 2.00%, 12/10/2032		217,549		219,113
LSF12 Crown US Commercial Bidco LLC, First Lien Term Loan 3M SOFR + 3.00%, 12/02/2031		1,157,142		1,159,745
Minimax Viking GmbH, First Lien Term Loan 1M SOFR + 2.00%, 03/17/2032		613,090		615,390
Omnia Partners, LLC, First Lien Term Loan 3M SOFR + 2.50%, 12/31/2032		500,000		500,210
Orbit Private Holdings I Ltd, First Lien Term Loan 3M SOFR + 3.75%, 12/10/2031		764,365		761,342
Prime Sec Services Borrower LLC, First Lien Term Loan 1M SOFR + 1.75%, 03/08/2032		660,075		652,029
Protection One/ADT 11/24, First Lien Term Loan 1M SOFR + 2.00%, 10/13/2030		343,112		342,040
Tidal Waste 10/24 TLB 1L, First Lien Term Loan 3M SOFR + 3.00%, 10/24/2031		408,610		409,580
				8,521,877
Communications Equipment - 0.08%
Viavi Solutions Inc, First Lien Term Loan 3M SOFR + 2.50%, 10/18/2032		122,919		123,380

Construction & Engineering - 2.07%
Amentum/Amazon Holdco 7/24 TLB 1L, First Lien Term Loan 1M SOFR + 2.00%, 09/29/2031		343,147		343,648
Azuria Water Solutions Inc TL B 1L USD, First Lien Term Loan 3M SOFR + 0.00%, 01/31/2033		1,275,563		1,265,996
Azuria Water Solutions Inc TL DD 1L USD, First Lien Term Loan 3M SOFR + 0.00%, 01/27/2033		170,075		168,799
Dycom Industries Inc, First Lien Term Loan 1M SOFR + 1.75%, 01/27/2033		186,123		187,092
Green Infrastructure Partners Inc, First Lien Term Loan 3M SOFR + 2.75%, 09/24/2032		296,218		296,218
Socotec US Holding Inc, First Lien Term Loan 3M SOFR + 0.00%, 06/02/2031		641,831		643,038

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% (continued) Construction & Engineering - 2.07% (continued)
TECTA AMERICA CORP TLB 1L, First Lien Term Loan 1M SOFR + 2.75%, 02/18/2032	$	320,081	$	319,305
				3,224,096
Construction Materials - 0.90%
QUIKRETE HLDGS INC, First Lien Term Loan 1M SOFR + 2.25%, 02/10/2032		669,836		669,418
Tamko Building Products LLC, First Lien Term Loan 3M SOFR + 2.75%, 09/20/2030		737,973		736,128
				1,405,546
Consumer Finance - 0.70%
CPI Holdco B LLC, First Lien Term Loan 1M SOFR + 2.00%, 05/19/2031		1,093,022		1,087,185

Consumer Staples Distribution and Retail - 0.12%
Boots Group Finco LP, First Lien Term Loan 3M SOFR + 3.25%, 08/30/2032		191,190		192,106

Containers & Packaging - 3.67%
Berlin Packaging LLC, First Lien Term Loan 3M SOFR + 3.25%, 06/09/2031		331,272		320,138
Clydesdale Acquisition Holdings, Inc., First Lien Term Loan 1M SOFR + 3.25%, 04/01/2032		1,359,781		1,273,605
Iris Holding, Inc., First Lien Term Loan 3M SOFR + 4.75%, 0.50% Floor, 06/28/2028		1,286,335		1,208,808
ProAmpac PG Borrower LLC TERM LOAN (02/26) 1LIEN, First Lien Term Loan 3M SOFR + 0.00%, 03/07/2033		890,821		862,537
Supplyone 3/24, First Lien Term Loan 1M SOFR + 3.50%, 04/18/2031		350,000		351,423
Tricorbraun Holdings, Inc., First Lien Closing Date Initial Term Loan 1M SOFR + 3.25%, 0.50% Floor, 03/03/2031		688,395		656,054
Trident TPI Holdings, Inc., First Lien Term Loan 3M SOFR + 3.75%, 0.50% Floor, 09/15/2028		1,087,967		1,033,057
				5,705,622
Distributors - 0.49%
S&S Holdings LLC, First Lien Initial Term Loan 3M SOFR + 5.00%, 0.50% Floor, 03/10/2028		553,659		525,284
S&S Holdings LLC, First Lien Term Loan 1M SOFR + 5.00%, 10/01/2031		250,004		236,254
				761,538
Diversified Consumer Services - 1.89%
Adtalem Global Education Inc TERM (02/26) 1LIEN, First Lien Term Loan 1M SOFR + 2.25%, 03/02/2033		293,178		294,094
Ascend Learning LLC, First Lien Term Loan 1M SOFR + 3.00%, 0.50% Floor, 12/11/2028		396,513		387,988
BIFM CA BUYER INC. 2025 TERM LOAN (09/25) 1LIEN, First Lien Term Loan 1M SOFR + 3.25%, 05/31/2028		289,542		289,904
GBT US III LLC, First Lien Term Loan 3M SOFR + 2.00%, 07/28/2031		40,814		40,059
Inspired Education US Holdings Inc, First Lien Term Loan 3M SOFR + 2.75%, 02/28/2031		262,391		262,146
KUEHG Corp, First Lien Term Loan 3M SOFR + 3.25%, 06/12/2030		236,882		213,193
Metropolis Technologies, Inc., First Lien Term Loan 6M SOFR + 5.25%, 11/03/2032		885,804		877,500
St. George's University Scholastic Services LLC, First Lien Term Loan B Term Loan 1M SOFR + 2.75%, 0.50% Floor, 02/10/2029		575,084		565,201
				2,930,085
Diversified Telecommunication Services - 2.07%
Cable & Wireless 1/25 B7, First Lien Term Loan 3M SOFR + 3.25%, 02/02/2032		1,054,605		1,038,132
Radiate Holdco, LLC, First Lien Term Loan 1M SOFR + 5.00%, 09/25/2029		543,650		485,434
Sunrise Financing Partnership, First Lien Term Loan 6M SOFR + 2.50%, 02/17/2032		448,760		446,611
Ufinet/Zacapa 10/24 TL, First Lien Term Loan 3M SOFR + 3.75%, 03/22/2029		1,246,323		1,244,609
				3,214,786
Electric Utilities - 2.44%
Alpha Generation LLC, First Lien Term Loan 1M SOFR + 1.75%, 09/30/2031		960,342		959,089
Cogentrix Finance Holdco I LLC,, First Lien Term Loan 1M SOFR + 2.25%, 02/26/2032		353,348		353,922
Lightning Power 8/24 TLB, First Lien Term Loan 1M SOFR + 2.25%, 08/18/2031		1,199,131		1,203,160

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% (continued) Electric Utilities - 2.44% (continued)
NRG Energy 3/24 Cov-Lite, First Lien Term Loan 3M SOFR + 1.75%, 04/16/2031	$	1,278,543	$	1,282,634
				3,798,805
Electrical Equipment - 1.22%
Aggreko Holdings, Inc., First Lien Term Loan 3M SOFR + 3.00%, 0.50% Floor, 05/21/2031		94,770		94,977
Arcline FM Holdings LLC, First Lien Term Loan 3M SOFR + 2.75%, 06/24/2030		248,867		249,559
DG Investment Intermediate Holdings 2 Inc, First Lien Term Loan:
1M SOFR + 3.25%, 07/09/2032		844,644		845,172
1M SOFR + 5.50%, 07/29/2033^(b)		299,173		293,190
Modena Buyer LLC, First Lien Term Loan 3M SOFR + 4.25%, 07/01/2031		453,865		408,919
				1,891,817
Electronic Equipment, Instruments & Components - 0.77%
New Money Tranche A, First Lien Term Loan 1M SOFR + 5.75%, 04/30/2029^(b)		73,493		55,855
Newfold Digital Holdings Group Inc TL 1L, First Lien Term Loan:
1M SOFR + 3.50%, 04/30/2029		1,077,604		794,345
3M SOFR + 3.60%, 04/30/2029		221,568		73,117
Sanmina Corp, First Lien Term Loan 1M SOFR + 2.00%, 10/27/2032^(b)		266,658		267,324
				1,190,641
Energy Equipment & Services - 0.71%
Covia Holdings LLC, First Lien Term Loan 3M SOFR + 2.75%, 02/26/2032		291,904		291,904
PG Polaris Bid Co Sarl, First Lien Term Loan 3M SOFR + 2.25%, 03/26/2031		802,755		803,975
				1,095,879
Entertainment - 2.34%
Endeavor 1/25 Cov-Lite, First Lien Term Loan 1M SOFR + 2.75%, 03/24/2032		1,187,219		1,186,031
EP Purcasher, LLC, First Lien Term Loan 3M SOFR + 3.50%, 11/06/2028		585,073		371,627
EP Purchaser LLC, First Lien Term Loan 3M SOFR + 4.50%, 0.50% Floor, 11/06/2028		142,012		90,444
OAK-EAGLE ACQUIRECO INC TERM (10/25) 1LIEN USD, First Lien Term Loan 3M SOFR + 0.00%, 03/24/2033		1,553,942		1,546,172
Opry Entertainment/OEG, First Lien Term Loan 3M SOFR + 3.50%, 06/25/2031		294,634		296,231
UFC Holdings LLC, First Lien Term Loan 3M SOFR + 2.00%, 11/21/2031		140,447		140,535
				3,631,040
Financial Services - 1.21%
Corpay Technologies Operating Co LLC, First Lien Term Loan 1M SOFR + 1.75%, 11/05/2032		714		713
Envestnet, Inc., First Lien Term Loan 3M SOFR + 3.00%, 11/25/2031		129,424		125,838
FleetCor 9/24, First Lien Term Loan 1M SOFR + 1.75%, 04/28/2028		358,835		359,022
Mitchell International, Inc., First Lien Term Loan 3M SOFR + 0.00%, 0.50% Floor, 06/17/2031		82,130		78,593
Shift4 Payments LLC, First Lien Term Loan 3M SOFR + 2.00%, 07/03/2032		273,419		273,163
Synechron Inc, First Lien Term Loan 3M SOFR + 3.75%, 10/03/2031		1,134,368		1,045,036
				1,882,365
Food Products - 1.42%
CH Guenther 11/21, First Lien Term Loan 1M SOFR + 3.00%, 12/08/2028		805,814		807,833
Froneri International Limited, First Lien Term Loan 6M SOFR + 2.25%, 09/30/2032		535,008		525,683
Froneri US, Inc.,, First Lien Term Loan 6M SOFR + 2.25%, 09/30/2031		247,335		242,814
Pegasus Bidco BV, First Lien Term Loan 3M SOFR + 2.75%, 07/12/2029		237,835		237,537
PFI Lower Midco LLC, First Lien Term Loan 1M SOFR + 4.00%, 12/01/2032		140,000		140,701
Snacking Investments Bidco Pty Ltd, First Lien Term Loan 3M SOFR + 3.00%, 10/29/2032		256,344		256,798
				2,211,366

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% (continued)
Ground Transportation - 0.32%
Genesee & WY Inc, First Lien Term Loan 3M SOFR + 1.75%, 04/10/2031	$	506,818	$	504,971

Health Care Equipment & Supplies - 1.89%
Embecta Corp, TLB, First Lien Term Loan 1M SOFR + 3.00%, 03/30/2029		800,677		802,014
Hanger, Inc., First Lien Term Loan:
1M SOFR + 3.50%, 10/23/2031^(c)		27,912		28,017
1M SOFR + 3.50%, 10/23/2031		366,058		367,431
Hologic Inc, First Lien Term Loan 3M SOFR + 3.00%, 01/14/2033		154,770		153,116
WS Audiology AS TERM LOAN (02/26) USD (02/33), First Lien Term Loan 3M SOFR + 3.25%, 02/28/2029		1,580,878		1,582,854
				2,933,432
Health Care Providers & Services - 6.74%
Agiliti Health, Inc., First Lien Term Loan 6M SOFR + 3.00%, 05/01/2030		451,796		440,313
CHG Healthcare Services Inc, First Lien Term Loan 3M SOFR + 2.75%, 09/29/2028		391,437		392,231
Ensemble RCM LLC, First Lien Term Loan 3M SOFR + 3.00%, 02/09/2033		1,055,112		1,044,999
Global Medical Response Inc, First Lien Term Loan 3M SOFR + 3.50%, 09/20/2032		1,526,442		1,523,580
Heartland Dental LLC TL B 1L USD, First Lien Term Loan 1M SOFR + 3.75%, 08/25/2032		690,502		689,991
Inception Holdco Sarl, First Lien Term Loan 3M SOFR + 3.25%, 04/09/2031		636,467		641,505
MED ParentCo LP, First Lien Term Loan 3M SOFR + 3.00%, 04/15/2031		805,554		806,195
Medical Solutions Holdings, Inc., First Lien Term Loan 3M SOFR + 0.00%, 11/01/2028^(b)		966,467		695,856
Midwest Physcn Admin Srvcs LLC, First Lien Term Loan 3M SOFR + 3.00%, 03/12/2028		961,180		826,614
Onex TSG Intermediate Corp (01/26) 1LIEN USD (08/32), First Lien Term Loan 3M SOFR + 3.25%, 08/06/2032		357,354		359,766
Pediatric Associates Holding Co. LLC, First Lien Term Loan 3M SOFR + 3.25%, 0.50% Floor, 12/29/2028		592,742		568,704
Radiology Partners Inc, First Lien Term Loan 3M SOFR + 4.50%, 06/25/2032		1,119,531		1,104,938
Raven Acquisition Holdings LLC 10/24 Cov-Lite TLB, First Lien Term Loan 1M SOFR + 3.00%, 11/19/2031		713,945		701,258
Raven Acquisition Holdings LLC 10/24 Cov-Lite, First Lien Term Loan 3M SOFR + 3.25%, 11/19/2031^(c)		34,452		33,840
U.S. Anesthesia Partners, Inc., First Lien Term Loan 1M SOFR + 4.00%, 0.50% Floor, 10/02/2028		408,382		409,076
US Fertility Enterprises LLC, First Lien Term Loan 3M SOFR + 3.50%, 12/30/2032		228,081		228,010
				10,466,876
Health Care Technology - 1.50%
Athena Health Group, Inc., First Lien Term Loan 1M SOFR + 3.25%, 02/15/2029		70,895		69,698
Cotiviti, Inc., First Lien Term Loan 1M SOFR + 2.75%, 03/26/2032		515,211		475,540
Gainwell Acquisition Corp., First Lien Term Loan 3M SOFR + 4.00%, 0.75% Floor, 10/01/2027		1,764,479		1,716,697
Project Ruby Ultimate Parent Corp., First Lien Term Loan 1M SOFR + 2.75%, 03/10/2028		70,894		70,658
				2,332,593
Hotels, Restaurants & Leisure - 4.98%
1011778 BC UNLIMITED LIABILITY CO, First Lien Term Loan 1M SOFR + 1.75%, 09/20/2030		1,348,355		1,347,014
Bulldog Purchaser, Inc., First Lien Term Loan 3M SOFR + 3.25%, 0.50% Floor, 02/07/2033		565,163		564,951
Caesars Entertainment, Inc., First Lien Term Loan 1M SOFR + 2.25%, 0.50% Floor, 02/06/2031		348,228		339,087
Entain Holdings Gibraltar Ltd, First Lien Term Loan 3M SOFR + 2.25%, 10/31/2029		1,127,802		1,128,772
Fertitta Entertainment, LLC, First Lien Term Loan 1M SOFR + 3.25%, 01/27/2029		1,089,743		1,070,673
Flutter Entertainment Public Limited, First Lien Term Loan 3M SOFR + 2.00%, 06/04/2032		155,775		154,412
Flynn Restaurant Group LP, First Lien Term Loan 1M SOFR + 3.75%, 01/28/2032		1,517,253		1,493,682
Herschend Entertainment Co LLC, First Lien Term Loan 1M SOFR + 2.50%, 05/27/2032		213,266		213,799
MOTION FINCO LLC, First Lien Term Loan 3M SOFR + 3.50%, 11/12/2029		293,640		258,299
Turquoise Topco Limited, First Lien Term Loan 3M SOFR + 3.25%, 12/30/2032		305,791		297,001
Voyager Parent LLC, First Lien Term Loan 1M SOFR + 8.75%, 07/01/2032		867,410		862,622
				7,730,312

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% (continued) Household Durables - 1.44%
AC Products Holdings, Inc., First Lien Term Loan 3M SOFR + 4.25%, 0.50% Floor, 05/17/2028	$	1,577,122	$	1,267,123
Restoration Hardware, Inc. TLB 1L, First Lien Term Loan 1M SOFR + 2.50%, 10/20/2028		742,248		723,692
Weber-Stephen Products LLC, First Lien Term Loan 3M SOFR + 3.75%, 10/01/2032		251,183		246,222
				2,237,037
Independent Power and Renewable Electricity Producers - 0.21%
Talen Energy Supply LLC, First Lien Term Loan 1M SOFR + 2.00%, 11/26/2032		324,269		324,906

Insurance - 3.40%
Alera Group Inc, Second Lien Term Loan 3M SOFR + 5.50%, 05/30/2033		264,621		256,352
Alera Group, Inc., First Lien Term Loan 1M SOFR + 2.75%, 0.50% Floor, 05/28/2032		623,039		605,584
Alliant Holdings Intermediate LLC, First Lien Term Loan 1M SOFR + 2.50%, 09/19/2031		335		333
Baldwin Insurance Group Holdings LLC, First Lien Term Loan 3M SOFR + 2.50%, 05/27/2031		594,329		585,663
Broad Street Partners Inc, First Lien Term Loan 1M SOFR + 2.50%, 06/13/2031		1,200,000		1,172,478
Hyperion Refinance Sarl, First Lien Term Loan:
1M SOFR + 2.75%, 04/18/2030		1,626,619		1,590,020
1M SOFR + 2.75%, 02/18/2031		142,353		138,229
Trucordia Insurance Holdings LLC, First Lien Term Loan 1M SOFR + 3.25%, 06/17/2032^(b)		750,000		693,750
Truist Insurance 3/24 2nd Lien Cov-Lite, Second Lien Term Loan 3M SOFR + 4.75%, 05/06/2032		248,731		247,176
				5,289,585
Interactive Media & Services - 1.92%
LI Group Holdings, Inc., First Lien 2021 Term Loan 1M SOFR + 3.50%, 0.75% Floor, 03/10/2028		469,040		470,506
MH Sub I LLC, First Lien Term Loan 1M SOFR + 4.25%, 05/03/2028		580,898		501,024
Trip.com/TripAdvisor 7/24, First Lien Term Loan 1M SOFR + 2.75%, 07/08/2031		1,326,672		1,262,548
WH BORROWER LLC, First Lien Term Loan 3M SOFR + 4.50%, 02/20/2032		746,033		747,492
				2,981,570
IT Services - 0.92%
ASURION LLC TLB 1L, First Lien Term Loan 3M SOFR + 3.75%, 02/23/2033		190,602		184,527
Asurion LLC, First Lien Term Loan 3M SOFR + 4.25%, 09/19/2030		35,475		35,120
Chrysaor Bidco ,SARL., First Lien Term Loan 3M SOFR + 3.25%, 10/30/2031		118,697		118,679
Team.blue Finco SARL, First Lien Term Loan 3M SOFR + 3.25%, 07/12/2032		70,894		67,837
Trio Bidco Inc, First Lien Term Loan 3M SOFR + 4.00%, 10/29/2032		496,111		482,056
Virtusa Corp., First Lien Term Loan 1M SOFR + 3.25%, 0.75% Floor, 02/15/2029		596,962		540,624
				1,428,843
Life Sciences Tools & Services - 0.74%
Loire Finco Luxembourg Sarl TLB, First Lien Term Loan 1M SOFR + 4.00%, 01/31/2030		878,500		879,234
Parexel International Corp., First Lien Term Loan 1M SOFR + 2.75%, 0.50% Floor, 12/12/2031		270,095		269,531
				1,148,765
Machinery - 3.60%
AI Aqua Merger Sub, Inc., First Lien Term Loan 1M SOFR + 2.75%, 0.50% Floor, 07/31/2028		500,000		499,453
Allison Transmission Inc, First Lien Term Loan 1M SOFR + 1.75%, 01/02/2033		192,396		193,310
ASP Blade Holdings, Inc, Second Lien Term Loan 3M SOFR + 4.00%, 10/15/2029		469,249		333,362
Coors Tek Inc, First Lien Term Loan 3M SOFR + 3.00%, 10/28/2032		351,878		354,188
Cube Industrials Buyer Inc, First Lien Term Loan 3M SOFR + 3.00%, 10/20/2031		249,836		250,252
Engineered Machinery Holdings Inc, First Lien Term Loan 3M SOFR + 3.25%, 11/26/2032		769,164		773,395
LSF12 Helix Parent LLC, First Lien Term Loan 1M SOFR + 3.50%, 02/10/2033		261,388		258,251
Madison IAQ LLC, First Lien Term Loan 6M SOFR + 2.75%, 0.50% Floor, 11/08/2032		909,187		912,205
Merlin Buyer Inc TERM (03/26) 1LIEN USD (03/33), First Lien Term Loan 3M SOFR + 0.00%, 03/26/2033		702,000		703,755

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% (continued) Machinery - 3.60% (continued)
Pro Mach Group Inc, First Lien Term Loan 3M SOFR + 2.75%, 10/18/2032	$	647,352	$	646,980
Project Castle, Inc., First Lien Term Loan 3M SOFR + 5.50%, 06/01/2029		797,255		434,169
Victory Buyer LLC TERM (02/26) 1LIEN USD (02/33), First Lien Term Loan 3M SOFR + 3.00%, 02/09/2033		229,592		230,143
				5,589,463
Media - 0.95%
ABG Intermediate Holdings 2 LLC, First Lien Term Loan 1M SOFR + 2.25%, 02/13/2032		613,067		611,056
American Greetings Corp., First Lien Term Loan 1M SOFR + 5.75%, 10/23/2029		717,522		717,074
McGraw-Hill Education, Inc., First Lien Term Loan 1M SOFR + 2.75%, 0.50% Floor, 08/06/2031		145,381		145,381
				1,473,511
Metals & Mining - 0.32%
Arsenal AIC Parent LLC, First Lien Term Loan 1M SOFR + 2.75%, 08/19/2030		281,452		282,507
SCIH Salt Holdings Inc, First Lien Term Loan 3M SOFR + 2.75%, 01/31/2029		794		793
Tega MC Australia Holdings Pty Ltd TLB 1L, First Lien Term Loan 3M SOFR + 0.00%, 03/25/2033		215,332		214,256
				497,556
Mortgage Real Estate Investment Trusts (REITs) - 0.73%
Apollo Commercial Real Estate Finance Inc, First Lien Term Loan 1M SOFR + 3.25%, 06/13/2030		288,232		289,134
KREF Holdings X LLC, First Lien Term Loan 1M SOFR + 2.50%, 03/05/2032		251,945		250,449
Starwood Property Mortgage LLC, First Lien Term Loan:
1M SOFR + 2.00%, 01/02/2030^(b)		308,605		308,991
1M SOFR + 2.25%, 09/24/2032		284,419		285,248
				1,133,822
Oil, Gas & Consumable Fuels - 3.37%
AL GCX Holdings LLC, First Lien Term Loan 1M SOFR + 2.25%, 12/20/2032		500,000		501,015
Blackfin Pipeline LLC, First Lien Term Loan 1M SOFR + 3.00%, 09/29/2032		871,178		877,033
Buckeye Partners LP, First Lien Term Loan 1M SOFR + 1.75%, 11/22/2032		82,827		83,224
Colossus AcquireCo LLC, First Lien Term Loan 3M SOFR + 1.75%, 07/30/2032		1,309,375		1,306,612
Freeport LNG Investments LLLP, First Lien Term Loan 3M SOFR + 3.25%, 01/31/2033		1,644,906		1,647,652
Liquid Tech Solutions Holdings LLC, First Lien Term Loan 1M SOFR + 3.50%, 10/12/2032		569,634		569,993
White Water Matterhorn Holdings LLC, First Lien Term Loan 3M SOFR + 1.75%, 06/16/2032		256,426		255,571
				5,241,100
Passenger Airlines - 1.60%
AAdvantage Loyalty IP, Ltd., First Lien Term Loan 3M SOFR + 2.75%, 05/28/2032		295,827		293,645
Advantage Loyalty IP, Ltd., First Lien Term Loan 3M SOFR + 2.25%, 04/20/2028		72,128		71,586
Air Canada, First Lien Term Loan 3M SOFR + 1.75%, 03/21/2031		90,155		89,591
American Airlines, Inc., First Lien Term Loan 3M SOFR + 2.25%, 02/15/2028		623,181		609,160
AS Mileage Plan IP Ltd, First Lien Term Loan 3M SOFR + 1.75%, 10/15/2031		373,533		372,754
Onesky Flight LLC, First Lien Term Loan 1M SOFR + 2.75%, 02/17/2033		164,400		164,195
Vista Management Holding Inc., First Lien Term Loan 3M SOFR + 3.75%, 04/01/2031		789,369		782,589
WestJet Loyalty LP, First Lien Term Loan 3M SOFR + 3.25%, 02/14/2031		104,931		102,215
				2,485,735
Pharmaceuticals - 1.98%
Bio Marin Pharmaceutical Inc, First Lien Term Loan 3M SOFR + 0.00%, 01/29/2033		546,670		545,989
Dechra Pharmaceuticals LLC TERM (01/26) 1LIEN USD, First Lien Term Loan 6M SOFR + 2.75%, 01/27/2032		771,761		772,243
Opal US LLC, First Lien Term Loan 3M SOFR + 3.00%, 04/23/2032		1,184,014		1,184,754

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% (continued) Pharmaceuticals - 1.98% (continued)
Padagis LLC, First Lien Initial Term Loan 3M SOFR + 4.75%, 0.50% Floor, 07/06/2028^(b)	$	630,079	$	581,249
				3,084,235
Professional Services - 9.28%
AG Group Holdings, Inc., First Lien Term Loan 1M SOFR + 4.25%, 12/29/2028		1,123,732		1,020,337
AlixPartners LLP, First Lien Term Loan 1M SOFR + 2.00%, 08/12/2032		625		620
Ankura Consulting Group LLC, First Lien Term Loan 3M SOFR + 3.50%, 0.75% Floor, 12/26/2031		528,644		506,177
Berkeley Resh Group LLC, First Lien Term Loan 3M SOFR + 3.25%, 04/30/2032		1,033,011		1,007,186
Camelot US Acquisition LLC, First Lien Term Loan 6M CME TERM SOFR + 3.00%, 01/31/2031		750,000		651,720
Cast & Crew LLC, First Lien Term Loan 3M SOFR + 3.75%, 0.50% Floor, 12/29/2028		1,232,557		495,180
CohnReznick Advisory LLC, First Lien Term Loan 3M SOFR + 3.50%, 03/26/2032		325,369		316,828
CoreLogic, Inc., First Lien Initial Term Loan 1M SOFR + 3.50%, 0.50% Floor, 06/02/2028		542,864		520,474
DTI Holdco Inc, First Lien Term Loan 1M SOFR + 4.00%, 04/26/2029		346,524		300,033
Eisner Advisory Group LLC, First Lien Term Loan 1M SOFR + 4.00%, 02/28/2031		391,452		373,837
Element Materials Technology Group Holdings, First Lien Term Loan 3M SOFR + 3.50%, 07/06/2029		902,928		906,882
First Advantage Holdings LL, First Lien Term Loan 3M SOFR + 2.75%, 10/31/2031		719,465		702,079
Grant Thornton Advisors LLC, First Lien Term Loan 3M SOFR + 2.75%, 06/02/2031		839,609		785,907
Heron Bidco LLC, First Lien Term Loan 3M SOFR + 4.00%, 12/10/2032		299,173		298,425
Hire Right Holdings Corp., First Lien Term Loan 1M SOFR + 3.25%, 09/27/2030		304,174		262,579
Isolved, Inc., First Lien Term Loan 1M SOFR + 2.75%, 10/14/2030		391,227		373,744
Lereta, LLC, First Lien Term Loan 3M SOFR + 5.25%, 07/30/2028		419,258		387,696
Mermaid Bidco Inc aka Datasite TL 1L, First Lien Term Loan 3M SOFR + 3.25%, 06/27/2031		728,124		714,472
Neptune Bidco US Inc, First Lien Term Loan 3M SOFR + 5.00%, 02/03/2033		442,036		422,586
Perficient/Plano 8/24 TLB 1L, First Lien Term Loan 3M SOFR + 3.50%, 10/02/2031		590,136		478,010
Pre Paid Legal Services, Inc., First Lien Term Loan 3M SOFR + 3.25%, 12/15/2028		251,458		218,949
Ryan LLC, First Lien Term Loan 1M SOFR + 3.50%, 11/08/2032		560,000		543,900
Secretariat Advisors LLC, First Lien Term Loan 3M SOFR + 4.00%, 02/27/2032		176,729		174,078
Thevelia US LLC, First Lien Term Loan 3M SOFR + 3.00%, 0.50% Floor, 06/18/2029		1,190,886		1,171,534
TTF Holdings LLC, First Lien Term Loan 6M SOFR + 3.75%, 07/18/2031		1,013,332		759,999
Vaco Holdings, LLC, First Lien Term Loan 3M SOFR + 5.00%, 01/22/2029		1,258,510		825,507
VT Topco, Inc. 12/24 1L, First Lien Term Loan 1M SOFR + 3.00%, 08/09/2030		202,493		197,026
				14,415,765
Semiconductors & Semiconductor Equipment - 0.59%
Altar Bidco, Inc., First Lien Term Loan 3M SOFR + 3.10%, 0.50% Floor, 02/01/2029		742,308		739,060
MKS Inc, First Lien Term Loan 1M SOFR + 1.75%, 02/04/2033		173,688		174,176
				913,236
Software - 18.36%
Avalara, Inc., First Lien Term Loan 3M SOFR + 2.75%, 03/29/2032		970,785		950,156
BEP Intermediate Holdco, First Lien Term Loan 1M SOFR + 2.75%, 04/28/2031^(b)		317,578		317,578
BMC Software 7/24 2nd Lien TL, Second Lien Term Loan 3M SOFR + 5.75%, 07/02/2032		950,959		801,188
Boxer Parent Co., Inc., First Lien Term Loan 3M SOFR + 3.00%, 07/30/2031		674,087		626,830
Capstone Borrower, Inc., First Lien Term Loan 3M SOFR + 2.75%, 06/17/2030		49,303		46,998
Central Parent LLC, First Lien Term Loan 3M SOFR + 3.25%, 07/06/2029		1,116,755		799,976
Cloud Software Group Inc, First Lien Term Loan:
3M SOFR + 3.25%, 03/21/2031		383,518		352,453
3M SOFR + 3.25%, 08/16/2032		502,457		461,182
Cloudera, Inc. TL 1L, First Lien Term Loan 1M SOFR + 3.75%, 0.50% Floor, 10/08/2028		1,280,220		1,146,597
Clover 10/24 TLB 1L, First Lien Term Loan 1M SOFR + 4.00%, 12/09/2031		360,672		346,246
Conga Corp., First Lien Term Loan 3M SOFR + 3.50%, 0.75% Floor, 05/06/2028		300,945		258,563
Cornerstone Building Brands, Inc., First Lien Tranche B Term Loan 3M SOFR + 3.25%, 0.50% Floor, 04/12/2028		73,869		42,237
Cornerstone On Demand, Inc., First Lien Initial Term Loan 3M SOFR + 3.75%, 0.50% Floor, 10/16/2028		1,633,833		1,199,340

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% (continued) Software - 18.36% (continued)
Dayforce Bidco LLC, First Lien Term Loan 3M SOFR + 3.00%, 02/04/2033	$	1,233,548	$	1,170,156
Delta Topco, Inc., First Lien Term Loan 3M SOFR + 2.75%, 11/30/2029		711,126		689,515
Delta Topco, Inc., Second Lien Term Loan 3M SOFR + 5.25%, 12/24/2030		871,931		770,203
Disco Parent Inc, First Lien Term Loan 3M SOFR + 3.00%, 08/06/2032		124,449		122,426
Evercommerce Solutions, Inc., First Lien B Term Loan 3M US L + 3.25%, 0.50% Floor, 07/07/2031		141,605		138,182
Finastra USA Inc, First Lien Term Loan 3M SOFR + 4.00%, 09/15/2032		1,166,206		1,097,936
Genesys Cloud Services, Inc., First Lien Term Loan 1M SOFR + 2.50%, 01/30/2032		1,231,609		1,180,805
Idera INC, First Lien Term Loan 3M SOFR + 3.50%, 03/02/2028		1,143,375		911,556
ION Platform Finance US Inc, First Lien Term Loan 3M SOFR + 3.75%, 09/30/2032		1,221,947		988,757
Ivanti Security Holdings LLC, First Lien Term Loan 3M SOFR + 5.75%, 2.00% Floor, 06/01/2029		121,711		121,863
Ivanti Software, Inc., First Lien Term Loan:
3M SOFR + 0.00%, 06/01/2029		481,634		169,776
3M SOFR + 4.75%, 06/01/2029		242,916		164,861
Magenta Security Holdings, LLC First Out TL 1L, First Lien Term Loan 3M SOFR + 6.75%, 07/27/2028		813,997		584,608
McAfee Corp., First Lien Term Loan 1M SOFR + 3.00%, 0.50% Floor, 03/01/2029		1,201,065		1,076,455
Mitnick Corporate Purchaser Inc., First Lien Term Loan 3M SOFR + 4.75%, 05/02/2029		1,952,173		902,880
Perforce Software, Inc., First Lien Term Loan 1M SOFR + 4.75%, 06/29/2029		1,436,899		971,933
Project Alpha (Qlik), First Lien Term Loan 3M SOFR + 3.25%, 10/26/2030		1,190,629		907,586
Project Alpha (Qlik), Second Lien Term Loan 3M SOFR + 5.00%, 05/09/2033		223,105		136,875
Project Leopard Holdings, Inc., First Lien Term Loan 3M SOFR + 5.25%, 0.50% Floor, 07/20/2029		1,143,015		718,957
Proofpoint Inc, First Lien Term Loan 3M SOFR + 3.00%, 08/31/2028		1,017,673		986,721
Pushpay USA INC, First Lien Term Loan 3M SOFR + 3.75%, 08/18/2031		600,000		588,000
Quartz Acquired, LLC, First Lien Term Loan 3M SOFR + 2.25%, 06/28/2030		431,411		361,306
Rithum Holdings Inc, First Lien Term Loan 3M SOFR + 4.75%, 07/21/2031		516,505		492,617
Rocket Software, Inc., First Lien Term Loan 1M SOFR + 3.75%, 0.50% Floor, 11/28/2028		1,104,538		1,061,969
Sci Quest 10/24 2nd Lien, Second Lien Term Loan 3M SOFR + 5.00%, 12/06/2032		696,000		640,320
Sophos Intermediate II, Ltd., First Lien Term Loan 1M SOFR + 3.50%, 03/05/2027		1,037,022		990,195
Starlight Parent, LLC, First Lien Term Loan 3M SOFR + 4.00%, 04/16/2032		823,845		702,328
Tuple US Bidco LLC, First Lien Term Loan 3M SOFR + 3.75%, 01/24/2033		219,775		213,731
UKG, Inc., First Lien Term Loan 3M SOFR + 2.50%, 02/10/2031		35,818		34,275
Vision Solutions, Inc., First Lien Term Loan 3M SOFR + 4.00%, 0.75% Floor, 04/24/2028		1,366,338		1,062,328
VS Buyer LLC, First Lien Term Loan 3M SOFR + 2.25%, 04/12/2031		35,401		34,664
XPLOR T1 LLC., First Lien Term Loan 3M SOFR + 3.50%, 12/01/2032		759,762		708,478
Zuora 12/24 Cov-Lite TLB, First Lien Term Loan 1M SOFR + 3.50%, 02/14/2032		517,400		479,242
				28,530,848
Specialty Retail - 2.69%
APRO LLC, First Lien Term Loan 1M SOFR + 3.75%, 07/09/2031		316,676		318,062
EG America LLC, First Lien Term Loan 1M SOFR + 3.25%, 02/10/2031		502,038		503,042
Great Outdoors Group LLC, First Lien Term Loan 1M SOFR + 3.25%, 0.75% Floor, 01/23/2032		758,652		758,368
Harbor Freight Tools USA, Inc., First Lien Term Loan 1M SOFR + 2.25%, 06/11/2031		287,002		284,452
MICHAELS COS INC/THE TERM (02/26) 1LIEN USD, First Lien Term Loan 3M SOFR + 5.00%, 02/22/2033		362,100		352,164
Spencer Spirit IH LLC, First Lien Term Loan 1M SOFR + 4.00%, 07/15/2031		721,667		724,073
STAPLES, INC. CLOSING DATE TERM LOAN (06/24), First Lien Term Loan 3M SOFR + 5.75%, 09/04/2029		369,657		336,907
StubHub Holdco Sub LLC, First Lien Term Loan 1M SOFR + 4.75%, 03/15/2030		916,659		904,917
				4,181,985
Textiles, Apparel & Luxury Goods - 0.72%
Beach Acquisition Bidco LLC, First Lien Term Loan 3M SOFR + 3.25%, 09/13/2032		214,820		215,626
Imagine Learning LLC, First Lien Term Loan 1M SOFR + 3.50%, 12/21/2029		962,850		895,455
				1,111,081

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
FLOATING RATE LOAN INTERESTS^(a) - 116.71% (continued) Thrifts & Mortgage Finance - 3.08%
ACCESS CIG LLC, First Lien Term Loan 3M SOFR + 4.00%, 08/19/2030	$	878,274	$	798,496
Ahead 7/24 TLB3 1L, First Lien Term Loan 3M SOFR + 2.50%, 02/01/2031		336,096		331,632
Dcert Buyer, Inc., Second Lien First Amendment Refinancing Term Loan 1M SOFR + 7.00%, 02/19/2029		1,625,691		1,255,846
Fortress Intermediate 3 Inc, First Lien Term Loan 1M SOFR + 3.00%, 06/27/2031		1,095,378		1,088,532
Go Daddy Oper Co LLC, First Lien Term Loan 1M SOFR + 1.75%, 05/30/2031		478,504		470,473
Osttra Group LTD, First Lien Term Loan 3M SOFR + 5.50%, 10/07/2033^(b)		141,691		134,252
Skopima Consilio Parent, LLC, First Lien Term Loan 1M SOFR + 3.75%, 0.50% Floor, 05/12/2028		222,527		175,170
Thought Works, Inc., First Lien Incremental Term Loan 1M SOFR + 2.75%, 0.50% Floor, 03/24/2028		40,998		35,669
World Wide Technology Holding Co. LLC, First Lien Term Loan 1M SOFR + 2.00%, 0.50% Floor, 03/01/2030		489,461		488,697
				4,778,767
Trading Companies & Distributors - 1.65%
Avolon TLB Borrower 1 (US), First Lien Term Loan 1M SOFR + 1.75%, 06/22/2030		291,278		292,188
BCPE Empire Holdings Inc, First Lien Term Loan 1M SOFR + 0.00%, 03/02/2033		690,754		681,260
Kodiak Building Partners, First Lien Term Loan 3M SOFR + 3.75%, 12/04/2031		899,741		900,937
QXO Building Products Inc, First Lien Term Loan 1M SOFR + 2.00%, 04/30/2032		183,003		182,878
White Cap Buyer LLC, First Lien Term Loan 1M SOFR + 3.25%, 10/19/2029		347,346		334,887
White Cap Supply Holdings LLC, First Lien Term Loan 1M SOFR + 3.50%, 02/10/2033		181,050		172,789
				2,564,939
TOTAL FLOATING RATE LOAN INTERESTS
(Cost $192,158,456)				181,348,112

COLLATERALIZED LOAN OBLIGATION SECURITIES^(a) - 9.40%
Diversified Consumer Services - 0.62%
New Mountain CLO 1, Ltd. 3M SOFR + 5.25%, 01/15/2038^(b)(d)		1,000,000		957,917

Financial Services - 8.78%
Bain Capital Credit CLO 2022-3, Ltd. 3M SOFR + 3.70%, 07/17/2035^(b)(d)		1,620,000		1,544,280
Bain Capital Credit CLO 2024-1, Ltd. 3M CME TERM SOFR + 6.59%, 04/16/2039^(b)(d)		1,000,000		985,460
Bbam US Clo IV, Ltd. 3M SOFR + 6.25%, 07/15/2039^(b)(d)		1,000,000		998,027
Carval Clo VIII-C, Ltd. 3M SOFR + 6.15%, 10/22/2037^(b)(d)		1,000,000		922,014
Cedar Funding XIV CLO, Ltd. 3M SOFR + 7.39%, 10/15/2037^(b)(d)		1,375,000		1,269,008
Columbia Cent CLO 34, Ltd. 3M SOFR + 6.85%, 01/25/2038^(b)(d)		1,500,000		1,418,104
Croton Park CLO, Ltd. 3M CME TERM SOFR + 5.55%, 10/15/2036^(b)(d)		821,750		784,078
Eldridge CLO 2025-1, Ltd. 3M CME TERM SOFR + 5.30%, 10/20/2038^(b)(d)		875,000		862,550
Meacham Park Clo, Ltd. 3M SOFR + 5.35%, 10/20/2037^(b)(d)		1,000,000		923,869
MidOcean Credit CLO XIV, Ltd. 3M SOFR + 6.14%, 04/15/2037^(b)(d)		1,000,000		1,002,500
Midocean Credit Clo XXI 3M SOFR + 5.00%, 10/20/2038^(b)(d)		1,000,000		979,134
OCP CLO 2021-21, Ltd. 3M SOFR + 4.70%, 01/20/2038^(b)(d)		1,000,000		978,547
Park Avenue Institutional Advisers CLO, Ltd. 2022-1 3M SOFR + 7.29%, 04/20/2035^(b)(d)		1,000,000		975,597
				13,643,168
TOTAL COLLATERALIZED LOAN OBLIGATION SECURITIES
(Cost $15,117,857)				14,601,085

CORPORATE BONDS - 21.62%
Aerospace & Defense - 0.32%
Bombardier, Inc. 7.450%, 05/01/2034^(d)		37,000		40,059
BWX Technologies, Inc. 4.125%, 06/30/2028^(d)		90,000		87,571

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued) Aerospace & Defense - 0.32% (continued)
TransDigm, Inc.:
6.375%, 03/01/2029^(d)	$	80,000	$	81,593
6.625%, 03/01/2032^(d)		190,000		194,013
6.125%, 07/31/2034^(d)		94,000		92,571
				495,807
Air Freight & Logistics - 0.32%
JetBlue Airways Corp. / JetBlue Loyalty LP 9.875%, 09/20/2031^(d)		524,000		495,923

Auto Parts&Equipment - 0.05%
Cyprium Corp. / Cyprium Holdings Luxembourg Sarl:
6.125%, 04/15/2031^(d)		36,000		35,580
6.375%, 04/15/2034^(d)		43,000		41,845
				77,425
Automobile Components - 0.42%
Cooper-Standard Automotive, Inc. 9.250%, 03/01/2031^(d)		187,000		175,874
Goodyear Tire & Rubber Co.:
5.000%, 07/15/2029		20,000		18,939
6.625%, 07/15/2030		41,000		40,127
5.250%, 07/15/2031		15,000		13,433
Patrick Industries, Inc. 4.750%, 05/01/2029^(d)		194,000		188,855
Phinia, Inc. 6.750%, 04/15/2029^(d)		130,000		132,509
Tenneco, Inc. 8.000%, 11/17/2028^(d)		80,000		79,764
				649,501
Automobiles - 0.09%
Nissan Motor Acceptance Co. LLC 5.625%, 09/29/2028^(d)		10,000		9,820
ZF North America Capital, Inc. 6.875%, 04/23/2032^(d)		140,000		133,145
				142,965
Biotechnology - 0.08%
Emergent BioSolutions, Inc. 3.875%, 08/15/2028^(d)		154,000		130,109

Broadline Retail - 0.07%
Kohl's Corp. 5.550%, 07/17/2045		47,000		26,768
Nordstrom, Inc.:
4.375%, 04/01/2030		10,000		9,342
4.250%, 08/01/2031		50,000		45,045
5.000%, 01/15/2044		33,000		22,060
				103,215
Building Products - 0.03%
Miter Brands Acquisition Holdco, Inc. / MIWD Borrower LLC 6.750%, 04/01/2032^(d)		50,000		47,919

Capital Markets - 0.34%
Aretec Group, Inc. 10.000%, 08/15/2030^(d)		44,000		46,790
Focus Financial Partners LLC 6.750%, 09/15/2031^(d)		50,000		49,705

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued) Capital Markets - 0.34% (continued)
Jane Street Group / JSG Finance, Inc.:
7.125%, 04/30/2031^(d)	$	40,000	$	41,143
6.125%, 11/01/2032^(d)		10,000		9,897
6.750%, 05/01/2033^(d)		118,000		119,803
Jefferies Finance LLC / JFIN Co.-Issuer Corp. 6.625%, 10/15/2031^(d)		53,000		50,580
Osaic Holdings, Inc. 6.750%, 08/01/2032^(d)		60,000		60,052
Stonex Escrow Issuer LLC 6.875%, 07/15/2032^(d)		148,000		149,676
				527,646
Chemicals - 0.85%
Celanese US Holdings LLC:
7.000%, 02/15/2031		28,000		28,772
7.375%, 02/15/2034		156,000		159,961
Cerdia Finanz GmbH 9.375%, 10/03/2031^(d)		50,000		49,776
Chemours Co.:
4.630%, 11/15/2029^(d)		212,000		198,995
8.000%, 01/15/2033^(d)		289,000		290,795
7.875%, 03/15/2034^(d)		112,000		112,078
FMC Corp.:
3.450%, 10/01/2029		90,000		80,478
5.650%, 05/18/2033		70,000		62,012
Huntsman International LLC 4.500%, 05/01/2029		60,000		56,166
Methanex US Operations, Inc. 6.250%, 03/15/2032^(d)		30,000		30,709
Nufarm Australia, Ltd. / Nufarm Americas, Inc. 5.000%, 01/27/2030^(d)		65,000		58,423
Olin Corp. 6.625%, 04/01/2033^(d)		141,000		138,106
Qnity Electronics, Inc.:
5.750%, 08/15/2032^(d)		20,000		20,049
6.250%, 08/15/2033^(d)		33,000		33,409
				1,319,729
Commercial Services & Supplies - 0.50%
ACCO Brands Corp. 4.250%, 03/15/2029^(d)		211,000		188,546
Deluxe Corp.:
8.000%, 06/01/2029^(d)		200,000		201,451
8.125%, 09/15/2029^(d)		95,000		98,737
Pitney Bowes, Inc. 7.250%, 03/15/2029^(d)		203,000		203,264
RR Donnelley & Sons Co. 9.500%, 08/01/2029^(d)		80,000		81,041
				773,039
Communications Equipment - 0.08%
Viavi Solutions, Inc. 3.750%, 10/01/2029^(d)		140,000		131,477

Construction Materials - 0.09%
Smyrna Ready Mix Concrete LLC 8.875%, 11/15/2031^(d)		90,000		92,878
Star Holding LLC 8.750%, 08/01/2031^(d)		40,000		40,631
				133,509
Consumer Finance - 1.89%
Ally Financial, Inc. 6.700%, 02/14/2033		330,000		332,553
Azorra Finance, Ltd.:
7.250%, 01/15/2031^(d)		18,000		18,190
6.250%, 02/15/2034^(d)		50,000		46,530

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued) Consumer Finance - 1.89% (continued)
Bread Financial Holdings, Inc. 6.750%, 05/15/2031^(d)	$	262,000	$	260,296
Credit Acceptance Corp. 6.625%, 03/15/2030^(d)		235,000		229,953
Enova International, Inc. 9.125%, 08/01/2029^(d)		310,000		317,361
FirstCash, Inc.:
4.630%, 09/01/2028^(d)		201,000		197,616
6.875%, 03/01/2032^(d)		306,000		312,263
Navient Corp.:
9.380%, 07/25/2030		297,000		289,790
7.875%, 06/15/2032		45,000		40,176
5.625%, 08/01/2033		60,000		46,841
OneMain Finance Corp.:
7.875%, 03/15/2030		17,000		17,555
6.125%, 05/15/2030		40,000		39,141
6.500%, 03/15/2033		90,000		86,116
6.750%, 09/15/2033		184,000		176,659
PRA Group, Inc. 8.880%, 01/31/2030^(d)		98,000		99,016
PROG Holdings, Inc. 6.000%, 11/15/2029^(d)		208,000		197,768
Synchrony Financial 7.250%, 02/02/2033		223,000		227,928
				2,935,752
Containers & Packaging - 0.47%
Cascades, Inc./Cascades USA, Inc. 6.750%, 07/15/2030^(d)		246,000		248,359
Clydesdale Acquisition Holdings, Inc. 6.625%, 04/15/2029^(d)		80,000		78,630
OI European Group BV 4.750%, 02/15/2030^(d)		57,000		53,232
Owens-Brockway Glass Container, Inc.:
7.250%, 05/15/2031^(d)		10,000		9,589
7.375%, 06/01/2032^(d)		208,000		197,127
TriMas Corp. 4.125%, 04/15/2029^(d)		151,000		143,802
				730,739
Diversified Consumer Services - 0.10%
Carriage Services, Inc. 4.250%, 05/15/2029^(d)		110,000		104,593
Service Corp. International 3.375%, 08/15/2030		62,000		57,241
				161,834
Diversified REITs - 0.14%
Service Properties Trust:
4.950%, 10/01/2029		5,000		4,534
8.875%, 06/15/2032		210,000		208,352
				212,886
Diversified Telecommunication Services - 0.49%
Directv Financing LLC / Directv Financing Co.-Obligor, Inc. 10.000%, 02/15/2031^(d)		192,000		196,151
Viasat, Inc.:
6.500%, 07/15/2028^(d)		342,000		338,239
7.500%, 05/30/2031^(d)		224,000		221,639
				756,029
Electric Utilities - 0.01%
Leeward Renewable Energy Operations LLC 4.250%, 07/01/2029^(d)		13,000		12,214

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued) Electrical Equipment - 0.05%
Albion Financing 1 SARL / Aggreko Holdings, Inc. 7.000%, 05/21/2030^(d)	$	70,000	$	71,594

Energy Equipment & Services - 1.02%
Kodiak Gas Services LLC:
5.875%, 04/01/2031^(d)		52,000		52,290
6.750%, 10/01/2035^(d)		10,000		10,166
Nabors Industries, Inc. 8.875%, 08/15/2031^(d)		398,000		414,880
Precision Drilling Corp. 6.875%, 01/15/2029^(d)		115,000		115,918
Tidewater, Inc. 9.125%, 07/15/2030^(d)		215,000		229,229
Transocean International, Ltd.:
8.250%, 05/15/2029^(d)		353,000		364,959
7.500%, 04/15/2031		10,000		10,228
6.800%, 03/15/2038		20,000		19,228
USA Compression Partners LP / USA Compression Finance Corp.:
7.125%, 03/15/2029^(d)		361,000		369,580
6.250%, 10/01/2033^(d)		6,000		5,991
				1,592,469
Entertainment - 0.19%
Discovery Global Holdings, Inc. 4.279%, 03/15/2032		289,000		256,126
OAK-Eagle Acquireco, Inc. 7.250%, 07/01/2033^(d)		39,000		40,433
				296,559
Financial Services - 0.73%
CrossCountry Intermediate Holdco LLC 6.750%, 12/01/2032^(d)		60,000		56,516
Encore Capital Group, Inc. 6.625%, 04/15/2031^(d)		466,000		464,099
Freedom Mortgage Holdings LLC:
9.125%, 05/15/2031^(d)		30,000		30,533
7.875%, 04/01/2033^(d)		80,000		75,088
Jefferson Capital Holdings LLC 8.250%, 05/15/2030^(d)		60,000		62,595
Mattamy Group Corp. 6.000%, 12/15/2033^(d)		50,000		47,011
PennyMac Financial Services, Inc.:
6.875%, 05/15/2032^(d)		47,000		45,403
6.750%, 02/15/2034^(d)		194,000		181,753
Rfna LP 7.875%, 02/15/2030^(d)		20,000		19,131
SV RNO Property Owner 1 LLC 5.875%, 03/01/2031^(d)		90,000		89,018
TrueNoord Capital DAC 8.750%, 03/01/2030^(d)		40,000		40,872
Velocity Commercial Capital LLC 9.375%, 02/15/2031^(d)		30,000		30,016
				1,142,035
Food Products - 0.39%
B&G Foods, Inc. 8.000%, 09/15/2028^(d)		398,000		392,410
Post Holdings, Inc. 4.500%, 09/15/2031^(d)		236,000		219,706
				612,116
Gas Utilities - 0.38% Suburban Propane Partners LP/Suburban Energy Finance Corp.:
5.000%, 06/01/2031^(d)		168,000		158,241
6.500%, 12/15/2035^(d)		131,000		127,462
Superior Plus LP / Superior General Partner, Inc. 4.500%, 03/15/2029^(d)		213,000		203,768

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued)
Gas Utilities - 0.38% (continued)
Venture Global Plaquemines LNG LLC:
6.125%, 12/15/2030^(d)	$	74,000	$	76,144
6.500%, 01/15/2034^(d)		21,000		21,905
7.750%, 05/01/2035^(d)		10,000		11,214
				598,734
Ground Transportation - 0.23%
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. 8.250%, 01/15/2030^(d)		278,000		279,868
RXO, Inc. 6.375%, 05/15/2031^(d)		81,000		77,923
				357,791
Health Care Equipment & Supplies - 0.23%
Hologic Inc Holx 4 5/8 02/01/28 4.625%, 02/01/2028^(d)		359,000		358,686

Health Care Providers & Services - 0.47%
AdaptHealth LLC:
4.625%, 08/01/2029^(d)		367,000		349,965
5.125%, 03/01/2030^(d)		104,000		99,713
CHS/Community Health Systems, Inc.:
6.875%, 04/15/2029^(d)		162,000		155,952
6.125%, 04/01/2030^(d)		20,000		17,411
DaVita, Inc. 6.875%, 09/01/2032^(d)		15,000		15,379
Prime Healthcare Services, Inc. 9.375%, 09/01/2029^(d)		70,000		72,639
Select Medical Corp. 6.250%, 12/01/2032^(d)		20,000		19,081
				730,140
Health Care REITs - 0.56%
Diversified Healthcare Trust:
4.750%, 02/15/2028		400,000		384,807
4.375%, 03/01/2031		20,000		17,795
MPT Operating Partnership LP / MPT Finance Corp.:
4.625%, 08/01/2029		327,000		254,651
3.500%, 03/15/2031		320,000		209,440
				866,693
Hotels, Restaurants & Leisure - 0.55%
1011778 BC ULC / New Red Finance, Inc. 5.625%, 09/15/2029^(d)		170,000		170,583
Great Canadian Gaming Corp./Raptor LLC 8.750%, 11/15/2029^(d)		50,000		48,811
Hilton Domestic Operating Co., Inc.:
3.750%, 05/01/2029^(d)		21,000		20,113
4.000%, 05/01/2031^(d)		214,000		201,016
Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower, Inc. 5.000%, 06/01/2029^(d)		256,000		243,228
Voyager Parent LLC 9.250%, 07/01/2032^(d)		83,000		86,224
Wyndham Hotels & Resorts, Inc. 4.375%, 08/15/2028^(d)		86,000		84,060
				854,035
Household Durables - 0.91%
Beazer Homes USA, Inc.:
7.250%, 10/15/2029		50,000		50,000
7.500%, 03/15/2031^(d)		238,000		234,095

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued)
Household Durables - 0.91% (continued)
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC:
5.000%, 06/15/2029^(d)	$	50,000	$	47,487
4.875%, 02/15/2030^(d)		20,000		18,387
Century Communities, Inc. 3.880%, 08/15/2029^(d)		220,000		206,652
LGI Homes, Inc. 7.000%, 11/15/2032^(d)		210,000		195,040
M/I Homes, Inc. 4.950%, 02/01/2028		206,000		203,500
Taylor Morrison Communities, Inc. 5.750%, 01/15/2028^(d)		220,000		220,734
Tri Pointe Homes, Inc. 5.700%, 06/15/2028		45,000		45,455
Weekley Homes LLC / Weekley Finance Corp. 6.750%, 01/15/2034^(d)		25,000		23,975
Whirlpool Corp.:
6.125%, 06/15/2030		160,000		156,350
6.500%, 06/15/2033		10,000		9,486
				1,411,161
Household Products - 0.10%
Central Garden & Pet Co. 4.120%, 10/15/2030		170,000		160,047

Industrial Conglomerates - 0.26%
Icahn Enterprises LP / Icahn Enterprises Finance Corp.:
9.750%, 01/15/2029		37,000		36,403
4.380%, 02/01/2029		30,000		25,632
10.000%, 11/15/2029^(d)		311,000		306,770
9.000%, 06/15/2030		40,000		37,547
				406,352
Insurance - 0.24%
Acrisure LLC / Acrisure Finance, Inc. 7.500%, 11/06/2030^(d)		99,000		99,528
Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer:
6.750%, 04/15/2028^(d)		70,000		70,422
7.000%, 01/15/2031^(d)		90,000		90,812
APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves 7.875%, 11/01/2029^(d)		60,000		54,310
Jones Deslauriers Insurance Management, Inc. 8.500%, 03/15/2030^(d)		20,000		20,345
Nassau Cos. of New York 7.875%, 07/15/2030^(d)		43,000		39,318
				374,735
Interactive Media & Services - 0.07%
ANGI Group LLC 3.875%, 08/15/2028^(d)		64,000		57,037
Dotdash Meredith, Inc. 7.625%, 06/15/2032^(d)		50,000		46,174
Match Group Holdings II LLC 6.125%, 09/15/2033^(d)		8,000		7,782
				110,993
IT Services - 0.48%
APLD ComputeCo LLC 9.250%, 12/15/2030^(d)		90,000		92,808
Asurion LLC/ Asurion Co.-Issuer, Inc. 8.000%, 12/31/2032^(d)		166,000		172,356
Cipher Compute LLC 7.125%, 11/15/2030^(d)		80,000		82,982
CoreWeave, Inc. 9.000%, 02/01/2031^(d)		253,000		241,051
Twilio, Inc. 3.625%, 03/15/2029		168,000		160,776
				749,973
Life Sciences Tools & Services - 0.04%
Charles River Laboratories International, Inc. 3.750%, 03/15/2029^(d)		10,000		9,482

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued)
Life Sciences Tools & Services - 0.04% (continued)
Star Parent, Inc. 9.000%, 10/01/2030^(d)	$	50,000	$	51,863
				61,345
Machinery - 0.36%
Dcli Bidco LLC 7.750%, 11/15/2029^(d)		50,000		50,602
Esab Corp. 6.250%, 04/15/2029^(d)		190,000		193,068
JB Poindexter & Co., Inc. 8.750%, 12/15/2031^(d)		50,000		50,741
Mueller Water Products, Inc. 4.000%, 06/15/2029^(d)		30,000		28,924
Park-Ohio Industries, Inc. 8.500%, 08/01/2030^(d)		120,000		123,097
Wabash National Corp. 4.500%, 10/15/2028^(d)		121,000		106,160
				552,592
Marine Transportation - 0.11%
Danaos Corp. 6.875%, 10/15/2032^(d)		167,000		169,831

Media - 0.64%
AMC Networks, Inc. 10.500%, 07/15/2032^(d)		80,000		79,035
CCO Holdings LLC / CCO Holdings Capital Corp.:
5.375%, 06/01/2029^(d)		60,000		59,212
7.375%, 02/01/2036^(d)		53,000		52,827
EchoStar Corp. 10.750%, 11/30/2029		195,667		211,490
Gray Media, Inc.:
4.750%, 10/15/2030^(d)		250,000		193,172
5.375%, 11/15/2031^(d)		30,000		22,300
9.625%, 07/15/2032^(d)		30,000		30,026
iHeartCommunications, Inc. 10.875%, 05/01/2030^(d)		65,153		41,820
Sinclair Television Group, Inc. 5.500%, 03/01/2030^(d)		18,000		15,615
Stagwell Global LLC 5.625%, 08/15/2029^(d)		175,000		166,759
Univision Communications, Inc. 8.500%, 07/31/2031^(d)		120,000		120,679
				992,935
Metals & Mining - 0.78%
Century Aluminum Co. 6.875%, 08/01/2032^(d)		100,000		103,273
Cleveland-Cliffs, Inc. 7.625%, 01/15/2034^(d)		184,000		179,937
Compass Minerals International, Inc. 8.000%, 07/01/2030^(d)		149,000		154,299
Genesis Energy LP / Genesis Energy Finance Corp. 6.750%, 03/15/2034		110,000		109,556
Mineral Resources, Ltd. 7.000%, 04/01/2031^(d)		507,000		518,569
SunCoke Energy, Inc. 4.880%, 06/30/2029^(d)		165,000		149,055
				1,214,689
Mortgage Real Estate Investment Trusts (REITs) - 0.79%
Arbor Realty SR, Inc.:
8.500%, 12/15/2028^(d)		100,000		98,318
7.875%, 07/15/2030^(d)		79,000		73,100
Risewell Homes, Inc. 8.500%, 11/01/2030^(d)		50,000		48,954
Rithm Capital Corp.:
8.000%, 04/01/2029^(d)		254,000		249,766
8.000%, 07/15/2030^(d)		181,000		174,837
Star Leasing Co. LLC 7.625%, 02/15/2030^(d)		50,000		46,323
Starwood Property Trust, Inc.:
5.250%, 10/15/2028^(d)		340,000		336,343
5.750%, 01/15/2031^(d)		159,000		157,211

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued)
Mortgage Real Estate Investment Trusts (REITs) - 0.79% (continued)
UWM Holdings LLC 6.625%, 02/01/2030^(d)	$	40,000	$	37,763
				1,222,615
Oil, Gas & Consumable Fuels - 3.19%
Antero Midstream Partners LP / Antero Midstream Finance Corp. 5.750%, 10/15/2033^(d)		170,000		168,231
Buckeye Partners LP 4.500%, 03/01/2028^(d)		110,000		108,239
California Resources Corp. 7.000%, 01/15/2034^(d)		210,000		211,844
CNX Resources Corp. 5.875%, 03/01/2034^(d)		13,000		12,670
Comstock Resources, Inc.:
6.750%, 03/01/2029^(d)		123,000		121,503
5.875%, 01/15/2030^(d)		141,000		136,609
Crescent Energy Finance LLC:
7.375%, 01/15/2033^(d)		100,000		100,049
8.375%, 01/15/2034^(d)		100,000		104,627
CVR Energy, Inc.:
7.500%, 02/15/2031^(d)		164,000		165,364
7.875%, 02/15/2034^(d)		82,000		82,343
Delek Logistics Partners LP / Delek Logistics Finance Corp. 7.375%, 06/30/2033^(d)		381,000		384,418
Excelerate Energy LP 8.000%, 05/15/2030^(d)		50,000		52,364
Harvest Midstream I LP 7.500%, 05/15/2032^(d)		40,000		40,852
Hess Midstream Operations LP 5.875%, 03/01/2028^(d)		230,000		231,611
Hilcorp Energy I LP / Hilcorp Finance Co.:
6.000%, 02/01/2031^(d)		50,000		48,631
6.250%, 04/15/2032^(d)		80,000		77,483
7.250%, 02/15/2035^(d)		10,000		9,977
Kraken Oil & Gas Partners LLC 7.625%, 08/15/2029^(d)		50,000		51,088
Murphy Oil Corp. 6.500%, 02/15/2034		109,000		107,726
NGL Energy Operating LLC / NGL Energy Finance Corp. 8.380%, 02/15/2032^(d)		368,000		379,509
Northern Oil & Gas, Inc.:
8.750%, 06/15/2031^(d)		256,000		266,348
7.875%, 10/15/2033^(d)		60,000		62,119
PBF Holding Co. LLC / PBF Finance Corp.:
9.875%, 03/15/2030^(d)		306,000		328,195
7.875%, 09/15/2030^(d)		54,000		55,489
Saturn Oil & Gas, Inc., L + 9.63%, 06/15/2029^(d)		169,000		177,006
SM Energy Co. 6.750%, 08/01/2029^(d)		119,000		120,879
Summit Midstream Holdings LLC 8.625%, 10/31/2029^(d)		210,000		216,112
Sunoco LP / Sunoco Finance Corp. 4.500%, 05/15/2029		387,000		377,637
Talos Production, Inc. 9.375%, 02/01/2031^(d)		401,000		425,193
Venture Global LNG, Inc. 8.375%, 06/01/2031^(d)		264,000		274,691
Wildfire Intermediate Holdings LLC 7.500%, 10/15/2029^(d)		50,000		50,699
				4,949,506
Paper & Forest Products - 0.01%
Magnera Corp. 7.250%, 11/15/2031^(d)		21,000		19,461

Personal Care Products - 0.29%
Edgewell Personal Care Co. 4.125%, 04/01/2029^(d)		19,000		17,961
HLF Financing Sarl LLC / Herbalife International, Inc. 4.875%, 06/01/2029^(d)		466,000		436,446
				454,407

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued)
Pharmaceuticals - 0.20%
Prestige Brands, Inc. 3.750%, 04/01/2031^(d)	$	340,000	$	311,872

Professional Services - 0.17%
ASGN, Inc. 4.625%, 05/15/2028^(d)		139,000		134,689
Clarivate Science Holdings Corp. 4.875%, 07/01/2029^(d)		20,000		17,378
Science Applications International Corp. 4.880%, 04/01/2028^(d)		110,000		108,343
				260,410
Real Estate Management & Development - 0.20%
Ashton Woods USA LLC / Ashton Woods Finance Co.:
4.625%, 04/01/2030^(d)		10,000		9,290
6.875%, 08/01/2033^(d)		53,000		51,209
Five Point Operating Co. LP 8.000%, 10/01/2030^(d)		30,000		29,948
Howard Hughes Corp.:
4.125%, 02/01/2029^(d)		115,000		108,868
4.380%, 02/01/2031^(d)		10,000		9,189
5.875%, 03/01/2032^(d)		35,000		33,716
6.125%, 03/01/2034^(d)		51,000		49,022
UWM Holdings LLC 6.250%, 03/15/2031^(d)		30,000		27,346
				318,588
Software - 0.82%
Cloud Software Group, Inc.:
6.500%, 03/31/2029^(d)		220,000		214,842
6.625%, 08/15/2033^(d)		45,000		40,049
Elastic NV 4.125%, 07/15/2029^(d)		10,000		9,389
Fair Isaac Corp.:
4.000%, 06/15/2028^(d)		391,000		379,727
6.250%, 09/15/2034^(d)		124,000		122,064
Gen Digital, Inc. 7.125%, 09/30/2030^(d)		127,000		128,319
ION Platform Finance US, Inc. / ION Platform Finance SARL:
5.750%, 05/15/2028^(d)		10,000		9,512
9.000%, 08/01/2029^(d)		10,000		9,282
Open Text Corp.:
3.880%, 02/15/2028^(d)		110,000		106,013
3.880%, 12/01/2029^(d)		111,000		99,320
Open Text Holdings, Inc. 4.125%, 02/15/2030^(d)		68,000		60,819
UKG, Inc. 6.875%, 02/01/2031^(d)		90,000		88,035
				1,267,371
Specialized REITs - 0.05%
Uniti Group LP / Uniti Group Finance 2019, Inc. / CSL Capital LLC 6.500%, 02/15/2029^(d)		80,000		77,768

Specialty Retail - 0.30%
Men's Wearhouse LLC 9.000%, 02/01/2031^(d)		36,000		36,971
Petco Health & Wellness Co., Inc. 8.250%, 02/01/2031^(d)		14,000		13,990
Wayfair LLC:
7.250%, 10/31/2029^(d)		218,000		222,676
7.750%, 09/15/2030^(d)		172,000		179,208
6.750%, 11/15/2032^(d)		20,000		20,168
				473,013

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Principal Amount		Value
CORPORATE BONDS - 21.62% (continued)
Technology Hardware, Storage & Peripherals - 0.19%
Seagate Data Storage Technology Pte, Ltd.:
4.091%, 06/01/2029^(d)	$	56,000	$	54,245
5.750%, 12/01/2034^(d)		110,000		109,863
WULF Compute LLC 7.750%, 10/15/2030^(d)		121,000		127,935
				292,043
Telecommunications - 0.06%
APLD ComputeCo 2 LLC 6.750%, 03/15/2031^(d)		88,000		87,414

Textiles, Apparel & Luxury Goods - 0.10%
Under Armour, Inc. 7.250%, 07/15/2030^(d)		90,000		91,143
William Carter Co. 7.375%, 02/15/2031^(d)		60,000		61,272
				152,415
Thrifts & Mortgage Finance (Discontinued) - 0.02%
United Wholesale Mortgage LLC 5.500%, 04/15/2029^(d)		40,000		37,477

Trading Companies & Distributors - 0.10%
Alta Equipment Group, Inc. 9.000%, 06/01/2029^(d)		112,000		99,815
Veritiv Operating Co. 10.500%, 11/30/2030^(d)		50,000		52,025
				151,840
TOTAL CORPORATE BONDS
(Cost $33,785,650)				33,599,423

	Shares		Value
COMMON STOCK - 0.29%
Diversified Consumer Services - 0.02%
Loyalty Ventures Inc^(b)(e)		409,425		38,895

Health Care Providers & Services - 0.27%
Envision Healthcare Corp. Equity^(e)		23,801		412,551

TOTAL COMMON STOCK
(Cost $798,093)				451,446

EXCHANGE TRADED FUNDS - 0.78%
Capital Markets - 0.78%
State Street Blackstone Senior Loan ETF		30,000		1,204,200

TOTAL EXCHANGE TRADED FUNDS
(Cost $1,245,600)				1,204,200

Blackstone Long-Short Credit Income Fund

Portfolio of Investments

March 31, 2026

	Shares		Value
SHORT-TERM INVESTMENTS - 1.45%
Open-end Investment Companies - 1.45%
Fidelity Investments Money Market Treasury Portfolio - Class I
(3.53% 7-Day Yield)	$	2,255,008	$	2,255,008

TOTAL SHORT-TERM INVESTMENTS
(Cost $2,255,008)				2,255,008

Total Investments- 150.25%
(Cost $245,360,664)				233,459,274

Liabilities in Excess of Other Assets - (1.53)%				(2,382,015	)

Leverage Facility - (48.72)%				(75,700,000	)

Net Assets - 100.00%			$	155,377,259

Amounts above are shown as a percentage of net assets as of March 31, 2026.

Investment Abbreviations:

SOFR - Secured Overnight Financing Rate

Reference Rates:

3M CME TERM SOFR - 3M CME TERM SOFR as of March 31, 2026 was 3.68%

6M CME TERM SOFR - 6M CME TERM SOFR as of March 31, 2026 was 3.70%

1M US SOFR - 1 Month SOFR as of March 31, 2026 was 3.65%

3M US SOFR - 3 Month SOFR as of March 31, 2026 was 3.68%

6M US SOFR - 6 Month SOFR as of March 31, 2026 was 3.86%

^(a)

Floating or variable rate security. The reference rate is described above. The rate in effect as of March 31, 2026, is based on the reference rate plus the displayed spread as of the security's last reset date. Where applicable, the reference rate is subject to a floor rate.

^(b)

Level 3 assets valued using significant unobservable inputs as a result of unavailable quoted prices from an active market or the unavailability of other significant observable inputs.

^(c)

A portion of this position was not funded as of March 31, 2026. The Portfolio of Investments records only the funded portion of each position. As of March 31, 2026, the Fund has unfunded delayed draw loans in the amount of $253,913. Fair value of these unfunded delayed draws was $251,195. Additional information is provided in Note 4 General Commitments and Contingencies.

^(d)

Security exempt from registration under Rule 144A of the Securities Act of 1933. Total market value of Rule 144A securities amounts to $43,266,639, which represented approximately 27.85% of net assets as of March 31, 2026. Such securities may normally be sold to qualified institutional buyers in transactions exempt from registration.

^(e)

Non-income producing security.

	Notes to Quarterly Portfolio
Blackstone Long-Short Credit Income Fund	of Investments

March 31, 2026

NOTE 1. ORGANIZATION

Blackstone Long-Short Credit Income Fund (“BGX”, the “Fund”) is a diversified, closed-end management investment company. BGX was organized as a Delaware statutory trust on October 22, 2010. BGX was registered under the Investment Company Act of 1940, as amended (the “1940 Act”) on October 26, 2010. BGX commenced operations on January 27, 2011. Prior to that date, BGX had no operations other than matters relating to its organization and the sale and issuance of 5,236 common shares of beneficial interest in BGX to Blackstone Liquid Credit Strategies LLC (the “Adviser”) at a price of $19.10 per share. The Adviser serves as the investment adviser for BGX. BGX’s common shares are listed on the New York Stock Exchange (the “Exchange”) and trade under the ticker symbol “BGX.”

The Fund was previously classified as a non-diversified investment company for purposes of the 1940 Act. As a result of ongoing operations, the Fund as of April 1, 2014 is now classified as a diversified company. This means that with respect to 75% of the Fund’s total assets, no more than 5% of such Fund’s total assets may be invested in any one issuer, excepting cash and cash items, U.S. government securities, and securities of other investment companies. The Fund may not resume operating in a non-diversified manner without first obtaining shareholder approval in accordance with the 1940 Act.

Investment Objectives: BGX’s primary investment objective is to provide current income, with a secondary objective of capital appreciation. BGX seeks to achieve its investment objectives by employing a dynamic long-short strategy in a diversified portfolio of loans and fixed-income instruments of predominantly U.S. corporate issuers, including first- and second-lien secured loans (“Secured Loans”) and high-yield corporate debt securities of varying maturities. BGX’s short positions, either directly or through the use of derivatives, may total up to 30% of the Fund’s net assets.

Senior Loans, Secured Loans and Senior Secured Loans are referred to collectively as “Loans” throughout the Notes to Financial Statements.

NOTE 2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation: The Fund’s financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are stated in U.S. dollars. The Fund is considered an Investment Company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification Topic 946.

The preparation of financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statement. Actual results could differ from these estimates. The Fund operates as a single operating segment. As a result, the Fund’s segment accounting policies are consistent with those described herein and the Fund does not have any intra-segment sales and transfers of assets.

Portfolio Valuation: BGX net asset value (“NAV”) is determined daily on each day that the Exchange is open for business, as of the close of the regular trading session on the Exchange. The Fund calculates NAV per share by subtracting liabilities (including accrued expenses or dividends) from the total assets of the Fund (the value of the securities plus cash or other assets, including interest accrued but not yet received) and dividing the result by the total number of outstanding common shares of the Fund.

Loans are primarily valued by using a composite loan price from a nationally recognized loan pricing service. The methodology used by the Fund's nationally recognized loan pricing provider for composite loan prices is to value loans at the mean of the bid and ask prices from one or more brokers or dealers. Collateralized Loan Obligation securities (“CLOs”) are valued at the price provided by a nationally recognized pricing service. The prices provided by the nationally recognized pricing service are typically based on the evaluated mid-price of each of the CLOs. Corporate bonds and convertible bonds, other than short-term investments, are valued at the price provided by a nationally recognized pricing service. The prices provided by the nationally recognized pricing service are typically based on the mean of bid and ask prices for each corporate bond security. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices, market transactions in comparable investments, various relationships observed in the market between investments and calculated yield measures based on valuation technology commonly employed in the market for such investments. Equity securities for which market quotations are available are generally valued at the last sale price or official closing price on the primary market or exchange on which they trade. Futures contracts, if any, are ordinarily valued at the last sales price on the securities or commodities exchange on which they are traded. Written and purchased options, if any, are ordinarily valued at the closing price on the securities or commodities exchange on which they are traded. Open-end investment companies are generally valued at their closing net asset values as reported on each business day. To the extent current market quotations are not readily available, short-term debt investments, if any, having a remaining maturity of 60 days or less when purchased would be valued at cost adjusted for amortization of premiums and accretion of discounts.

In accordance with Rule 2a-5 under the 1940 Act, the Fund's Board of Trustees (the “Board”) has designated the Adviser as the valuation designee to perform fair value determinations related to the Fund’s investments, subject to the Board’s oversight and periodic reporting requirements.

	Notes to Quarterly Portfolio
Blackstone Long-Short Credit Income Fund	of Investments

March 31, 2026

Any investments and other assets for which such current market quotations are not readily available are valued at fair value (“Fair Valued Assets”) as determined in good faith by a committee of the Adviser (“Fair Valued Asset Committee”) under procedures established by, and under the general supervision and responsibility of, the Fund's Board. Such methods may include, but are not limited to, the use of a market comparable and/or income approach methodologies. A Fair Valued Asset Committee meeting may be called at any time by any member of the Fair Valued Asset Committee. The pricing of all Fair Valued Assets and determinations thereof shall be reported by the Adviser as the valuation designee to the Board at each regularly scheduled quarterly meeting. The Fund has procedures to identify and investigate potentially stale or missing prices for investments which are valued using a nationally recognized pricing service, exchange price or broker-dealer quotations. After performing such procedures, any prices which are deemed to be stale are reviewed by the Fair Valued Asset Committee and an alternative pricing source is determined.

Various inputs are used to determine the value of BGX investments. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

Level 1— Unadjusted quoted prices in active markets for identical investments at the measurement date.

Level 2 — Significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).

Level 3 — Significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The categorization of a value determined for investments and other financial instruments is based on the pricing transparency of the investment and other financial instrument and does not necessarily correspond to the Fund's perceived risk of investing in those securities. Investments measured and reported at fair value are classified and disclosed in one of the following levels within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement.

	Notes to Quarterly Portfolio
Blackstone Long-Short Credit Income Fund	of Investments

March 31, 2026

The following tables summarize valuation of BGX's investments under the fair value hierarchy levels as of March 31, 2026:

Blackstone Long-Short Credit Income Fund

Investments in Securities at Fair Value*	Level 1 - Quoted Prices		Level 2 - Significant Observable Inputs			Level 3 - Significant Unobservable Inputs		Total
Floating Rate Loan Interests
Capital Markets	$	–	$	8,062,136		$	670,542	$	8,732,678
Electrical Equipment		–		1,598,627			293,190		1,891,817
Electronic Equipment, Instruments & Components				867,462			323,179		1,190,641
Health Care Providers & Services		–		9,771,020			695,856		10,466,876
Insurance		–		4,595,835			693,750		5,289,585
Mortgage Real Estate Investment Trusts (REITs)				824,831			308,991		1,133,822
Pharmaceuticals		–		2,502,986			581,249		3,084,235
Software		–		28,213,270			317,578		28,530,848
Thrifts & Mortgage Finance		–		4,644,515			134,252		4,778,767
Other		–		116,248,843			–		116,248,843
Collateralized Loan Obligation Securities
Diversified Consumer Services		–		–			957,917		957,917
Financial Services		–		–			13,643,168		13,643,168
Corporate Bonds		–		33,599,423			–		33,599,423
Common Stock
Diversified Consumer Services		–		–			38,895		38,895
Health Care Providers & Services		–		412,551			–		412,551
Exchange Traded Funds		1,204,200		–			–		1,204,200
Short Term Investments		2,255,008		–			–		2,255,008
Total	$	3,459,208	$	211,341,499		$	18,658,567	$	233,459,274

Other Financial Instruments
Liabilities
Net Unrealized Depreciation on Unfunded Loan Commitments		–		(1,850	)		–		(1,850	)
Total		–		(1,850	)		–		(1,850	)

Refer to the Fund's Portfolio of Investments for a listing of securities by type.

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of March 31, 2026, the Fund's outstanding borrowings of $75,700,000 under its Leverage Facility are categorized as Level 2 within the fair value hierarchy.

	Notes to Quarterly Portfolio
Blackstone Long-Short Credit Income Fund	of Investments

March 31, 2026

The changes of fair value investments for which BGX has used significant unobservable (Level 3) inputs to determine the fair value are as follows:

Blackstone Long-Short Credit Income Fund	Floating Rate Loan Interests			Collateralized Loan Obligation Securities			Common Stock		Total
Balance as of December 31, 2025	$	6,191,262		$	14,411,470		$	–	$	20,602,732
Accrued Discount/Premium		9,554			595			–		10,149
Realized Gain/(Loss)		(144,625	)		5,511			–		(139,114	)
Change in Unrealized Appreciation/(Depreciation)		(298,833	)		(442,279	)		–		(741,112	)
Purchases⁽¹⁾		1,011,854			5,615,784			–		6,627,638
Sales Proceeds⁽²⁾		(969,535	)		(4,989,996	)		–		(5,959,531	)
Transfer into Level 3		895,380			–			38,895		934,275
Transfer out of Level 3		(2,676,470	)		–			–		(2,676,470	)
Balance as of March 31, 2026	$	4,018,587		$	14,601,085		$	38,895	$	18,658,567
Net change in unrealized appreciation/(depreciation) included in the Statements of Operations attributable to Level 3 investments held at March 31, 2026	$	(124,020	)	$	(487,267	)	$	5,373	$	(605,914	)

⁽¹⁾

Purchases include all purchases of securities and securities received in corporate actions.

⁽²⁾

Sales Proceeds include all sales of securities, maturities, paydowns and securities tendered in corporate actions.

Information about Level 3 fair value measurements as of March 31, 2026:

				Unobservable	Value/Rate (Weighted
Blackstone Long-Short Credit Income Fund	Fair Value		Valuation Technique	Input(s)	Average)
Floating Rate Loan Interests	$	4,018,587	Third Party Vendor Pricing Services	Broker Quotes	N/A
Collateralized Loan Obligation Securities		14,601,085	Third Party Vendor Pricing Services	Broker Quotes	N/A
Common Stock		38,895	Third Party Vendor Pricing Services	Broker Quotes	N/A

A change to the unobservable input at the reporting date would result in a significant change to the value of the investment as follows:

Unobservable Input	Impact to Value if Input Increases	Impact to Value if Input Decreases
Broker Quotes	Increase	Decrease

Securities were transferred from Level 2 to Level 3 because of a lack of observable market data due to decrease in market activity and information for these securities. Other securities were transferred from Level 3 to Level 2 as observable inputs were available for purposes of valuing those assets.

Securities Transactions and Investment Income: Securities transactions are recorded on trade date for financial reporting purposes, and amounts payable or receivable for trades not settled at the time of period end are reflected as liabilities and assets, respectively. Interest income is recognized on an accrual basis from the date of settlement. Accretion of discount and amortization of premium, which are included in interest income, are accreted or amortized daily using the accrual basis interest method. Dividend income is recorded on the ex-dividend date. Realized gains and losses from securities transactions and foreign currency transactions, if any, are recorded on the basis of identified cost.

When the Fund sells a floating rate loan interest, it may pay an agency fee. The Fund earns facility and other fees on floating rate loan interests, and facility fees are typically amortized to income over the term of the loan. Consent and amendment fees are also recorded to income as earned.

	Notes to Quarterly Portfolio
Blackstone Long-Short Credit Income Fund	of Investments

March 31, 2026

NOTE 3. LOANS AND OTHER INVESTMENTS

BGX includes first and second lien secured, floating rate loans in its definition of “Secured Loans”. Under normal market conditions, at least 70% of BGX’s Managed Assets (defined below) will be invested in Secured Loans. Secured Loans are made to U.S. and, to a limited extent, non-U.S. corporations, partnerships and other business entities (“Borrowers”) that operate in various industries and geographical regions. BGX defines its “Managed Assets” as total assets (including any assets attributable to any leverage used) minus the sum of BGX’s accrued liabilities (other than liabilities related to the principal amount of leverage). As of March 31, 2026, 78.48% of BGX’s Managed Assets were held in Secured Loans.

Senior Secured Loans hold a senior position in the capital structure of a business entity, are secured with specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by unsecured creditors, subordinated debt holders and stockholders of the Borrower.

Loans often require prepayment from Borrowers’ excess cash flows or permit the Borrowers’ to repay at their election. The degree to which Borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, floating rate loans typically have an expected average life of two to four years. Floating rate loans typically have rates of interest which are re-determined periodically, either daily, monthly, quarterly or semi-annually by reference to a floating base lending rate, primarily the Secured Overnight Financing Rate (“SOFR”), plus a premium or credit spread.

Loans are subject to the risk of payment defaults of scheduled interest or principal. Such non-payment could result in a reduction of income, a reduction in the value of the investment and a potential decrease in the NAV of the Fund. Risk of loss of income is generally higher for subordinated unsecured loans or debt, which are not backed by a security interest in any specific collateral. There can be no assurance that the liquidation of any collateral securing a Loan would satisfy the Borrower’s obligation to the Fund in the event of non-payment of scheduled interest or principal payments, or that such collateral could be readily liquidated.

Second lien loans generally are subject to similar risks as those associated with investments in first lien loans except that such loans are subordinated in payment and/or lower in lien priority to first lien holders. In the event of default on a second lien loan, the first priority lien holder has first claim to the underlying collateral of the loan. Second lien loans are subject to the additional risk that the cash flow of the Borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior obligations of the Borrower. As of March 31, 2026, BGX had invested $4,441,321 in second lien secured loans. Second lien secured loans are considered Secured Loans for BGX.

Loans can be rated below investment grade or may also be unrated. As a result, the risks associated with Loans may be similar to the risks of other below investment grade securities, although they are senior and secured in contrast to other below investment grade securities, which are often subordinated or unsecured. The Fund typically invests in Loans rated below investment grade, which are considered speculative because of the credit risk of the Borrowers. Such companies are more likely than investment grade issuers to default on their payments of interest and principal owed to the Fund, and such defaults could reduce NAV and income distributions. The amount of public information available with respect to below investment grade loans will generally be less extensive than that available for registered or exchange-listed securities. In evaluating the creditworthiness of Borrowers, the Adviser will consider, and may rely in part on, analyses performed by others. The Adviser’s established best execution procedures and guidelines require trades to be placed for execution only with broker-dealer counterparties approved by the Counterparty Committee of the Adviser. The factors considered by the Counterparty Committee when selecting and approving brokers and dealers include, but are not limited to: (i) quality, accuracy, and timeliness of execution, (ii) review of the reputation, financial strength and stability of the financial institution, (iii) willingness and ability of the counterparty to commit capital, (iv) ongoing reliability and (v) access to underwritten offerings and secondary markets. The Counterparty Committee regularly reviews each broker-dealer counterparty based on the foregoing factors.

BGX may acquire Loans through assignments or participations. BGX typically acquires these Loans through assignment, and if BGX acquires a Loan through participation, it will seek to elevate a participation interest into an assignment as soon as practicably possible. The purchaser of an assignment typically succeeds to all the rights and obligations of the assigning institution and becomes a lender under the credit agreement with respect to the debt obligation. A participation typically results in a contractual relationship only with the institution participating out the interest, not with the Borrower. Sellers of participations typically include banks, broker-dealers, other financial institutions and lending institutions. The Adviser has adopted best execution procedures and guidelines which seek to mitigate credit and counterparty risk in the atypical situation when BGX must acquire a Loan through a participation.

BGX has invested in CLO securities. A CLO is a financing entity (generally called a Special Purpose Vehicle (“SPV”)), created to reapportion the risk and return characteristics of a pool of assets. While the assets underlying a CLO are typically Secured Loans, the assets may also include (i) unsecured loans, (ii) debt securities that are rated below investment grade, and (iii) equity securities incidental to investments in Secured Loans. When investing in CLOs, the Fund will not invest in equity tranches, which are the lowest tranche. However, the Fund may invest in lower tranches of CLO debt securities, which typically experience a lower recovery, greater risk of loss or deferral or non-payment of interest than more senior debt tranches of the CLO. In addition, the Fund intends to invest in CLOs consisting primarily of individual Secured Loans of Borrowers and not repackaged CLO obligations from other high risk pools. The underlying Secured Loans purchased by CLOs are generally performing at the time of purchase but may become non-performing, distressed or defaulted. CLOs with underlying assets of non-performing, distressed or defaulted loans are not contemplated to comprise a significant portion of the Fund’s investments in CLOs. The key feature of the CLO structure is the prioritization of the cash flows from a pool of debt securities among the several classes of the CLO. The SPV is a company founded solely for the purpose of securitizing payment claims arising out of this diversified asset pool. On this basis, marketable securities are issued by the SPV which, due to the diversification of the underlying risk, generally represent a lower level of risk than the original assets. The redemption of the securities issued by the SPV typically takes place on a date earlier than legal maturity from refinancing of the senior debt tranches.

	Notes to Quarterly Portfolio
Blackstone Long-Short Credit Income Fund	of Investments

March 31, 2026

NOTE 4. GENERAL COMMITMENTS AND CONTINGENCIES

As of March 31, 2026, BGX had unfunded loan commitments outstanding, which could be extended at the option of the borrower, as detailed below:

Borrower	Par Value		Fair Value		Unrealized Appreciation / (Depreciation)
CohnReznick Advisory LLC, First Lien Term Loan	$	30,203	$	29,410	$	(630	)
Hanger, Inc., First Lien Term Loan		19,470		19,543		73
Liquid Tech Solutions Holdings LLC, First Lien Term Loan		58,324		58,361		176
Raven Acquisition Holdings LLC 10/24 Cov-Lite, First Lien Term Loan		16,929		16,628		266
Secretariat Advisors LLC, First Lien Term Loan		21,454		21,132		(322	)
Signia Aerospace LLC, First Lien Term Loan		20,753		20,831		78
Trio Bidco Inc, First Lien Term Loan		52,222		50,743		(1,480	)
US Fertility Enterprises LLC, First Lien Term Loan		34,558		34,547		(11	)
Total	$	253,913	$	251,195	$	(1,850	)

Unfunded loan commitments are marked to market on the relevant day of the valuation in accordance with BGX’s valuation policies. For the period ended March 31, 2026, BGX recorded a net increase in unrealized depreciation on unfunded loan commitments totaling $6,905.

NOTE 5. LEVERAGE

The Fund terminated its previously existing leverage facility and entered into a new, separate Credit Agreement (the “Agreement”), dated December 24, 2024, with a new lender to borrow up to a limit of $90 million pursuant to an evergreen revolving line of credit (the “Leverage Facility”). The Leverage Facility does not have a scheduled maturity date, but can be terminated (i) by the Fund upon at least three (3) business days’ written notice to the lender under the Leverage Facility or (ii) by such lender on the latest to occur of (a) the 365th day after the initial closing date of the Leverage Facility, (b) the 270th day after such lender delivers a notice of termination to the Fund or (c) a later date specified by such lender in the notice of termination. Borrowings under the Agreement are secured by the assets of the Fund.

Interest on outstanding revolving loans under the Leverage Facility is currently charged at a rate of 1.15% above adjusted term SOFR, with either a one (1) month interest period or three (3) month interest period as elected by the Fund. The Fund may also elect to borrow daily interest rate loans based on a customary alternate base rate. Under the terms of the Agreement, the Fund must pay a commitment fee on any undrawn amounts, currently in an amount equal to 0.15% on the undrawn amounts when drawn amounts equal or exceed 75% of the borrowing limit and 0.25% on the undrawn amounts at any other time. Interest is generally payable at the end of the respective interest period and fees are generally payable after the end of each calendar quarter. As of March 31, 2026, BGX had borrowings outstanding under its Leverage Facility of $75,700,000 at an interest rate of 4.82%. Due to the short term nature of the Agreement, face value approximates fair value at March 31, 2026. This fair value is based on Level 2 inputs under the three-tier fair valuation hierarchy (see Note 2). For the period ended March 31, 2026, the average borrowings under BGX's Leverage Facility and the weighted average interest rate were $76,377,778 and 4.76%, respectively. During the period ended March 31, 2026, the Fund incurred $3,564 for commitment fees on undrawn amounts.

Under the Agreement, the Fund has agreed to certain covenants and additional investment limitations while the leverage is outstanding. The Fund has agreed to maintain asset coverage of three times over borrowings. Compliance with the investment restrictions and calculations are performed by the Fund’s custodian, The Bank of New York Mellon. As of March 31, 2026, the Fund was in compliance with all required investment limitations and asset coverage requirements related to its leverage.

The use of borrowings to leverage the common shares of the Fund can create risks. Changes in the value of the Fund’s portfolio, including securities bought with the proceeds of leverage, are borne entirely by the holders of common shares of the Fund. All costs and expenses related to any form of leverage used by the Fund are borne entirely by common shareholders. If there is a net decrease or increase in the value of the Fund’s investment portfolio, the leverage may decrease or increase, as the case may be, the NAV per common share to a greater extent than if the Fund did not utilize leverage. As of March 31, 2026, BGX’s leverage represented 32.76% of the Fund’s Managed Assets.