Alternative Credit Income Fund Consolidated Schedule of Investments

 

June 30, 2026 (Unaudited)

 

Alternative Credit Income Fund

6/30/2026 (UNAUDITED)

 

   Coupon   Reference Rate & Spread  Maturity  Principal   Value 

BANK LOANS (72.59%)(a)(b)

Communication Services (3.88%)

                     
Next Flight Ventures, Delayed Draw Term Loan(c)(d)(e)   13.95%  13.95% PIK  12/26/2026  $1,185,401   $1,166,432 
Next Flight Ventures, First Lien Term Loan(c)(e)   13.99%  13.99% PIK  12/26/2026   5,373,391    5,293,328 
                    6,459,760 
Consumer Discretionary (3.96%)                     
Lucky Bucks Holdings LLC, Subordinated Note(c)(f)   –%  3M SOFR + 4.75%, 0.75% Floor  05/29/2028   10,013,460    1,938,606 
Needle Holdings LLC, First Lien Term Loan(c)(f)   –%  3M SOFR + 9.00%  06/22/2027   26,339    – 
PMP OPCO, LLC, Delayed Draw Term Loan(c)(d)(g)   12.18%  1M SOFR + 8.50%, 2.00% Floor  05/31/2029   381,742    341,637 
PMP OPCO, LLC, First Lien Term Loan(c)(g)   12.13%  1M SOFR + 8.50%, 2.00% Floor  05/31/2029   1,113,750    1,024,650 
PMP OPCO, LLC, Revolver(c)(d)(g)   –%  1M SOFR + 8.50%, 2.00% Floor  05/31/2029   –    (11,250)
Riddell Inc., First Lien Term Loan(c)(g)   8.64%  1M SOFR + 5.00%, 1.00% Floor  05/14/2031   3,282,623    3,311,881 
                    6,605,524 
Consumer Staples (6.60%)                     
BrightPet, First Lien Term Loan(c)(e)   10.81%  3M SOFR + 4.00%, 3.00% PIK, 1.00% Floor  01/04/2028   1,949,933    1,438,076 
BrightPet, Revolver(c)(e)   10.81%  3M SOFR + 4.00%, 3.00% PIK, 1.00% Floor  01/04/2028   530,695    391,388 
Florida Food Products, LLC, Second Lien Term Loan C(c)(e)   8.99%  3M SOFR + 3.00%, 2.00% PIK, 1.00% Floor  10/15/2030   899,241    688,760 
Florida Food Products, LLC, Second Lien Term Loan D(c)(e)   8.99%  3M SOFR + 5.00%  10/15/2030   192,595    147,515 
Florida Food Products, LLC, Third Lien Term Loan(c)(e)   11.99%  3M SOFR + 8.00% PIK, 0.75% Floor  04/15/2031   4,761,957    3,220,511 
Phillips Feed Service, Inc., First Lien Term Loan(c)   14.00%  14% PIK  04/13/2033   5,431,716    5,103,640 
                    10,989,890 
Financials (15.03%)                     
BetaNXT, Inc., First Lien Term Loan(c)   9.45%  3M SOFR + 5.75%  07/01/2029   1,412,955    1,374,685 
DeltaDx Limited, LP - Barri/Dolex(c)(e)   15.00%  15.00% PIK  06/14/2028   412,124    410,599 
Hunter Point Capital Structured Notes Issuer, LLC, Subordinated Delayed Draw Notes(c)   0.00%  N/A  07/15/2052   5,694,718    8,731,410 
Money Transfer Acquisition Inc., First Lien Term Loan(c)   11.97%  1M SOFR + 8.25%, 1.00% Floor  12/14/2027   5,700,608    5,678,946 
PMA Parent Holdings LLC, First Lien Term Loan(c)   8.48%  3M SOFR + 4.75%, 0.75% Floor  01/31/2031   2,742,918    2,738,804 
PMA Parent Holdings LLC, Revolver(c)(d)   –%  3M SOFR + 4.75%, 0.75% Floor  01/31/2031   –    (375)
PocketWatch, Inc., First Lien Term Loan - Incremental(c)   13.80%  N/A  01/30/2028   791,936    788,451 
PocketWatch, Inc., First Lien Term Loan - Initial(c)   14.99%  N/A  07/15/2027   793,848    790,355 
SouthStreet Securities Holdings, Inc., First Lien Term Loan(c)   9.00%  N/A  09/20/2027   2,700,000    2,541,510 
TA/WEG HOLDINGS, LLC, Delayed Draw Term Loan(c)   7.98%  3M SOFR + 4.25%, 5.50% Floor  10/02/2028   1,979,572    1,979,572 
TA/WEG HOLDINGS, LLC, Revolver(c)(d)   10.75%  3M SOFR + 6.25%, 1.00% Floor  10/02/2028   –    – 
                    25,033,957 
Health Care (14.86%)                     
American Academy Holdings, LLC, Delayed Draw Term Loan(c)(e)   13.01%  1M SOFR + 4.25%, 5.00% PIK, 1.00% Floor  06/30/2027   426,382    425,871 
American Academy Holdings, LLC, First Lien Term Loan(c)(e)   13.01%  1M SOFR + 4.25%, 5.00% PIK, 1.00% Floor  06/30/2027   2,148,966    2,146,387 
American Academy Holdings, LLC, Second Lien Term Loan(c)(e)   14.50%  14.50% PIK  03/01/2028   5,245,851    5,167,163 
PhyNet Dermatology LLC, First Lien Term Loan(c)(e)   10.18%  6M SOFR + 6.50%, 1.00% Floor  10/20/2029   1,992,949    1,958,072 
Premier Radiology Acquisition, Inc, First Lien Term Loan(c)   10.72%  1M SOFR + 7.00%, 3.00% Floor  06/09/2028   1,954,123    1,937,122 
Upstream Newco, Inc., Amended Second Lien Term Loan(c)(e)   12.67%  3M SOFR + 9.00%  05/20/2030   2,463,365    3,088,567 
Upstream Rehabilitation, Inc., Second Lien Term Loan(c)(e)   13.27%  3M SOFR + 9.50%  05/20/2030   8,012,502    6,846,684 
VBC Spine Opco LLC (DxTX Pain and Spine LLC), Delayed Draw Term Loan(c)   9.63%  1M SOFR + 6.00%, 2.00% Floor  06/14/2029   1,082,645    1,081,455 
VBC Spine Opco LLC (DxTX Pain and Spine LLC), First Lien Term Loan(c)   9.64%  1M SOFR + 6.00%, 2.00% Floor  06/14/2029   1,864,129    1,862,078 
VBC Spine Opco LLC (DxTX Pain and Spine LLC), Revolver(c)(d)   9.64%  3M SOFR + 6.00%, 2.00% Floor  06/14/2029   241,936    241,492 
                    24,754,891 

 

 

Alternative Credit Income Fund Consolidated Schedule of Investments

 

June 30, 2026 (Unaudited)

 

   Coupon   Reference Rate & Spread  Maturity  Principal   Value 

BANK LOANS (72.59%)(a)(b)

Industrials (7.74%)

                     
Accordion Partners LLC, Delayed Draw Term Loan(c)   8.67%  3M SOFR + 5.00%, 0.75% Floor  11/17/2031  $334,089   $334,089 
Accordion Partners LLC, First Lien Term Loan(c)   8.67%  3M SOFR + 5.00%, 0.75% Floor  11/17/2031   1,660,643    1,660,643 
Accordion Partners LLC, Revolver(c)(d)   –%  3M SOFR + 5.00%, 0.75% Floor  11/17/2031   –    – 
Epic Staffing Group, First Lien Term Loan(c)   9.67%  6M SOFR + 6.00%, 0.50% Floor  06/28/2029   1,924,185    1,577,832 
Marvel APS, Delayed Draw Term Loan(c)(e)(h)   10.00%  10.00% PIK  12/21/2027   3,909,446    5,109,259 
Material Handling Systems, Inc., First Lien Term Loan(c)   9.19%  3M SOFR + 5.50%, 0.50% Floor  06/08/2029   1,863,129    464,227 
Newbury Franklin Industrials, LLC, Delayed Draw Term Loan(c)(d)   10.63%  6M SOFR + 7.00%, 2.00% Floor  12/11/2029   450,543    442,791 
Newbury Franklin Industrials, LLC, First Lien Term Loan(c)   10.62%  6M SOFR + 7.00%, 2.00% Floor  12/11/2029   3,346,284    3,301,778 
                    12,890,619 
Information Technology (20.52%)                     
Accurate Background, LLC, First Lien Term Loan(c)   9.99%  3M SOFR + 6.00%, 1.00% Floor  03/26/2029   4,299,079    4,299,081 
Ancile Solutions, Inc., First Lien Term Loan(c)   13.94%  3M SOFR + 10.00%, 1.00% Floor  06/11/2026   3,220,281    3,294,347 
Colonnade Intermediate, LLC, Delayed Draw Term Loan(c)(f)   –%  1M SOFR + 7.00%, 1.00% Floor  09/30/2026   1,688,518    1,000,447 
Colonnade Intermediate, LLC, First Lien Term Loan(c)(f)   –%  1M SOFR + 7.00%, 1.00% Floor  09/30/2026   1,766,712    1,046,777 
DCert Buyer, Inc. First Amendment Term Loan Refinancing, Second Lien Term Loan(c)   10.64%  1M SOFR + 7.00%  02/16/2029   3,600,000    3,029,634 
Diamanti, Inc., Subordinated Note(c)(e)   17.50%  17.50% PIK  04/01/2026   5,175,337    5,415,993 
Dun & Bradstreet Holdings, Inc., First Lien Term Loan(c)   9.15%  1M SOFR + 5.50%, 0.75% Floor  08/26/2032   1,688,206    1,677,739 
Dun & Bradstreet Holdings, Inc., Revolver(c)(d)   9.12%  1M SOFR + 5.50%, 0.75% Floor  08/26/2032   33,934    32,882 
Ivanti Security Holdings LLC, NewCo First Lien Term Loan(c)   9.41%  3M SOFR + 5.75%, 2.00% Floor  06/01/2029   293,840    285,392 
Ivanti Software, Inc., Second Lien Initial Term Loan(c)   11.18%  3M SOFR + 7.25%, 1.00% Floor  06/01/2029   4,040,000    725,523 
Kofax, Inc., Second Lien Term Loan(c)   11.41%  3M SOFR + 7.75%, 0.50% Floor  07/20/2030   4,000,000    2,290,000 
Metrc Inc., Delayed Draw Term Loan(c)(d)   –%  3M SOFR + 5.50%, 1.00% Floor  09/30/2031   –    1,355 
Metrc Inc., First Lien Term Loan(c)   9.23%  3M SOFR + 5.50%, 1.00% Floor  09/30/2031   293,496    287,480 
Metrc Inc., Revolver(c)(d)   –%  3M SOFR + 5.50%, 1.00% Floor  09/30/2031   –    (3,178)
Phoenix Finance, Inc., First Lien Term Loan(c)(e)   12.73%  12.73% PIK, 1.00% Floor  08/14/2028   976,160    960,834 
Phoenix Finance, Inc., Second Lien Term Loan(c)(e)   11.38%  11.38% PIK, 1.00% Floor  08/14/2028   1,731,913    1,620,205 
Precisely Software Incorporated, Second Lien Term Loan(c)   11.18%  3M SOFR + 7.25%, 0.75% Floor  04/23/2029   3,000,000    1,948,755 
Spectrio, Delayed Draw Term Loan(c)(e)   9.67%  3M SOFR + 6.00%, 1.00% Floor  12/09/2026   1,174,785    876,742 
Spectrio, First Lien Term Loan(c)(e)   9.67%  3M SOFR + 6.00%, 1.00% Floor  12/09/2026   2,816,509    2,101,960 
VTX Intermediate Holdings, Inc., First Lien Term Loan(c)(e)   10.92%  1M SOFR + 6.00%, 2.00% Floor  12/12/2029   1,162,076    1,160,623 
VTX Intermediate Holdings, Inc., Second Lien Term Loan(c)(e)   12.50%  12.50% PIK  12/12/2030   2,182,400    2,127,840 
                    34,180,431 
TOTAL BANK LOANS                     
(Cost $135,878,288)                   120,915,072 
                      

CORPORATE BONDS (2.28%)(a)(b)

                     

Communications (1.19%)

                     
Spanish Broadcasting System, Inc.(f)(i)   –%  N/A  03/01/2026   3,000,000    1,980,000 
Consumer Discretionary (–%)                     
Monitronics - Escrow(c)   –%  N/A  12/31/2049   2,650,000    – 
Financials (1.09%)                     
EJF CRT 2024-R1 LLC, Class R1(c)   11.44%  1M CMTR + 7.75%, 7.75% Floor  12/17/2055   1,820,578    1,820,578 
TOTAL CORPORATE BONDS                     
(Cost $4,788,067)                   3,800,578 
                      
ASSET BACKED SECURITIES (2.96%)(b)                     
Financials (2.96%)                     
Canyon Capital CLO 2014-1, Ltd., Class ER(f)(i)   –%  3M SOFR + 7.70%  01/30/2031   1,000,000    118,259 
JMP Credit Advisors CLO IV, Ltd.(c)(f)(g)   –%  N/A  07/17/2029   4,836,540    1,451 
JMP Credit Advisors CLO V, Ltd.(c)(f)(g)   –%  N/A  07/17/2030   4,486,426    52,940 
Mount Logan Funding 2018-1 LP(c)(g)(i)   19.39%  19.39%  01/22/2033   7,798,575    3,731,228 
Octagon Investment Partners 36, Ltd., Class F(f)(i)   –%  3M SOFR + 7.75%  04/15/2031   1,000,000    288,359 
Octagon Investment Partners XIV, Ltd., Class ER(f)(i)   –%  3M SOFR + 8.35%  07/15/2029   2,132,000    – 
Saranac CLO VII, Ltd., Class ER(f)(i)   –%  3M SOFR + 6.72%  11/20/2029   558,276    45,032 
Tralee CLO II, Ltd., Class ER,(i)   11.79%  3M SOFR + 7.85%  07/20/2029   955,775    695,115 
Tralee CLO II, Ltd., Class FR,(f)(i)   –%  3M SOFR + 8.85%  07/20/2029   1,000,000    139 
                   $4,932,523 

 

 

Alternative Credit Income Fund Consolidated Schedule of Investments

 

June 30, 2026 (Unaudited)

 

   Coupon   Reference Rate & Spread  Maturity  Principal   Value 

ASSET BACKED SECURITIES (2.96%)(b)

Financials (2.96%) (continued)

                     
                      
TOTAL ASSET BACKED SECURITIES                     
(Cost $8,537,938)                   4,932,523 
                      
EQUIPMENT FINANCING (0.24%)(b)                     
Financials (0.24%)                     
White Oak Equipment Finance 1, LLC(c)(j)   10.75%  N/A  01/01/2027  $398,838    398,838 
                      
TOTAL EQUIPMENT FINANCING                     
(Cost $398,838)                   398,838 

 

   Dividend        
   Rate  Shares   Value 
PREFERRED STOCK (3.27%)(b)             
Communication Services (1.83%)             
Invisible Narratives, LLC, Preferred(c)(k)      8,733,625    3,055,022 
              
Consumer Discretionary (0.67%)             
Princeton Medspa Partners, LLC(c)(e)(g)(j)  12.50% PIK   319,780    155,150 
Riddell Sports Enterprises LLC, Preferred(c)(e)(g)  10.00% PIK   955,320    963,834 
            1,118,984 
Consumer Staples (0.34%)             
Middle West Spirits Holdings, LLC, Preferred(c)(e)  10.00% PIK   494,002    559,473 
              
Health Care (0.09%)             
American Academy Holdings. Inc., Preferred Units(c)(j)(k)      90,970    152,386 
              
Industrials (0.34%)             
GreenPark Infrastructure, LLC Series A(c)(g)(j)(k)      400    233,478 
Phoenix Aviation Capital LLC, Preferred(c)(e)(g)(j)  7.00% PIK   460,381    334,927 
            568,405 
TOTAL PREFERRED STOCK             
(Cost $5,361,778)           5,454,270 

 

   Shares   Value 
COMMON EQUITY (9.77%)(b)          
Communication Services (0.05%)          
Next Flight Ventures(c)(k)   88    58,377 
NFV Co-Pilot, Inc.(c)(k)   441    17,889 
         76,266 
Consumer Discretionary (0.69%)          
CEC Entertainment, Inc.(k)   79,564    729,363 
JoAnn Inc.(c)(k)    1,570,371    – 
Riddell Sports Enterprises LLC, Common(c)(g)(k)   727    426,448 
         1,155,811 
Consumer Staples (2.85%)          
Cooper OH Originations, LLC SPV(c)(j)   40,000    4,728,815 
Middle West Spirits Holdings, LLC, Common Stock(c)(k)   45    19,064 
         4,747,879 
Diversified (1.48%)          
BCP Investment Corporation(g)   31,482    229,189 
CION Investment Corp.   120,800    752,584 
Franklin BSP Capital Corp.   57,308    771,906 
WhiteHorse Finance, Inc.   107,328    719,098 
         2,472,777 

 

 

Alternative Credit Income Fund Consolidated Schedule of Investments

 

June 30, 2026 (Unaudited)

 

   Shares   Value 

COMMON EQUITY (9.77%)(b) (continued)

Financials (0.77%)

          
AIP Capital, LLC(c)(j)(k)   30   $12,368 
Aperture Dodge 18 LLC(c)(k)   2,076,378    1,253,281 
         1,265,649 
Health Care (0.28%)          
American Academy Holdings. Inc., Common Units(c)(j)(k)   0.05    180,000 
DxTx Pain and Spine LLC, Common Units(c)(j)(k)   98,854    289,890 
         469,890 
Industrials (0.60%)          
GreenPark Infrastructure, LLC Series M-1(c)(g)(j)(k)   2,565    884,946 
Incora Top Holdco LLC(c)(k)   5,350    – 
Phoenix Aviation Capital LLC, Common Stock(c)(g)(j)(k)   1    110,887 
         995,833 
Information Technology (0.72%)          
BGPT Maverick, L.P.(c)(k)   1,000,000    1,194,515 
VTX Holdings, LLC(c)(k)   932,474    936 
         1,195,451 
Real Estate (2.33%)          
Copper Property CTL Pass Through Trust(j)   319,520    3,386,912 
Rebound Investment LP(c)(d)   335,000    501,200 
         3,888,112 
TOTAL COMMON EQUITY          
(Cost $22,072,015)        16,267,668 

 

       Value 
PRIVATE INVESTMENT FUNDS (17.75%)(b)          
BlackRock Global Credit Opportunities Fund, LP(d)(l)(m)        5,830,157 
CVC European Mid-Market Solutions Fund(d)(l)(m)        1,090,430 
EJF Financial Debt Strategies Fund LP(m)        792,471 
GSO Credit Alpha Fund II LP(d)(l)(m)        1,051,615 
Monroe Capital Private Credit Fund III LP(d)(l)(m)        3,377,237 
Pelham S2K SBIC II, L.P.(d)(l)(m)        529,016 
Tree Line Credit Strategies LP(l)(m)        16,896,688 
         29,567,614 
TOTAL PRIVATE INVESTMENT FUNDS          
(Cost $35,393,546)        29,567,614 
           
JOINT VENTURE (0.21%)(b)          
Joint Venture (0.21%)          
Series B - Great Lakes Funding II LLC(d)(g)(m)(n)   383,019    343,184 
TOTAL JOINT VENTURE          
(Cost $383,019)        343,184 

 

   Shares   Value 
INTERVAL FUND (2.50%)(b)        
Diversified (2.50%)          
Opportunistic Credit Interval Fund(g)   362,837    4,172,622 
TOTAL INTERVAL FUND          
(Cost $4,368,554)        4,172,622 
           
WARRANTS (0.31%)(b)          
Consumer Discretionary (0.00%)          
Princeton Medspa Partners, LLC(c)(g)(j)   0.01    1,976 
Financials (0.31%)          
SouthStreet Securities Holdings, Strike Price $1.00, Expires 09/20/2027(c)   3,400    510,646 

 

 

Alternative Credit Income Fund Consolidated Schedule of Investments

 

June 30, 2026 (Unaudited)

 

   Shares   Value 
Information Technology (–%)          
Diamanti, Inc., Class A, Strike Price $0.01, Expires 4/29/2032(c)   146,413   $– 
TOTAL WARRANTS          
(Cost $390,456)        512,622 

 

   Number of     
   Contracts   Value 
DERIVATIVES (–%)(b)          
Consumer Discretionary (–%)          
Princeton Medspa Partners, LLC(c)(g)(j)(o)   250,000    – 
TOTAL DERIVATIVES          
(Cost $–)        – 
           
INVESTMENTS, AT VALUE (111.88%)          
(COST $217,572,499)       $186,364,991 
LIABILITIES IN EXCESS OF OTHER ASSETS (-11.88%)        (19,765,963)
NET ASSETS - (100.00%)       $166,599,028 

 

Investment Abbreviations:

SOFR - Secured Overnight Financing Rate

PIK - Payment in-Kind

 

Reference Rates:

1M SOFR - 1 Month US SOFR as of June 30, 2026 was 3.63%

3M SOFR - 3 Month US SOFR as of June 30, 2026 was 3.64%

6M SOFR - 6 Month US SOFR as of June 30, 2026 was 3.67%

1M CMTR - 1 Month Constant Maturity Treasury Rate was 3.70%

 

(a)Variable rate investment, unless otherwise noted above. Interest rates reset periodically. Interest rate shown reflects the rate in effect at June 30, 2026. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.
(b)These investments are pledged to secure the Fund’s debt obligations.
(c)As a result of the use of significant unobservable inputs to determine fair value, these investments have been classified as Level 3 assets.
(d)All or a portion of this commitment was unfunded as of June 30, 2026.
(e)Payment in kind security which may pay interest in additional par.
(f)Non-accrual investment. Beginning March 31, 2026, the Company recognized interest income to the extent that it is received in cash on its loans to Colonnade Intermediate, LLC (cash basis income recognition).
(g)Affiliate company.
(h)Principal balance denominated in euros.
(i)Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2026, the aggregate market value of those securities was $6,858,132, representing 4.12% of net assets.
(j)Investment held through ACIF Master Blocker, LLC, a wholly-owned subsidiary. As of June 30, 2026, the aggregate market value of those securities was $10,870,573, representing 6.52% of net assets.
(k)Non-income producing security.
(l)Investment is held through CIF Investments LLC, a wholly-owned subsidiary. As of June 30, 2026, the aggregate market value of those securities was $28,775,143 representing 17.27% of net assets.
(m)Restricted security.
(n)During the three-month period ended June 30, 2026, the Fund invested $20,955 in Series B – Great Lakes Funding II LLC units, received a return of capital distribution of $-, and reported change in unrealized depreciation of $4,968. Additionally, Series B – Great Lakes Funding II LLC declared distributions of $12,186 during the three-month period ended June 30, 2026.
(o)Information related to the Fund’s derivatives is presented below as of June 30, 2026

 

      Number of       Exercise        
Description  Counterparty  Shares   Notional Amount   Price   Expiration Date  Value 
Put Option  Princeton Medspa Partners, LLC   250,000   $250,000   $2.00   N/A  $– 

 

Securities determined to be restricted under the procedures approved by the Fund's Board of Trustees are as follows.

 

 

Alternative Credit Income Fund Consolidated Schedule of Investments

 

June 30, 2026 (Unaudited)

 

Date(s) of Purchases  Security  Cost   Value   % of Net Assets 
03/31/2018 - 06/30/2025  BlackRock Global Credit Opportunities Fund, LP  $9,158,434   $5,830,157    3.50%
09/30/2017 - 09/30/2021  CVC European Mid-Market Solutions Fund   2,911,406    1,090,430    0.65%
06/30/2024 - 09/30/2024  EJF Financial Debt Strategies Fund LP   750,000    792,471    0.48%
06/30/2018 - 03/31/2021  GSO Credit Alpha Fund II LP   –    1,051,615    0.63%
09/30/2018 - 12/31/2020  Monroe Capital Private Credit Fund III LP   3,061,035    3,377,237    2.03%
11/14/2022 - 06/30/2025  Pelham S2K SBIC II, L.P.   512,671    529,016    0.32%
08/05/2022 - 06/30/2026  Series B - Great Lakes Funding II LLC   383,019    343,184    0.21%
12/31/2017 - 06/30/2025  Tree Line Credit Strategies LP   19,000,000    16,896,688    10.14%
   Total  $35,776,565   $29,910,798    17.96%

 

Additional information on investments in private investment funds and unfunded commitments:

 

             Unfunded 
       Redemption  Redemption  Commitments as of 
Security  Value   Frequency  Notice(Days)  June 30, 2026 
BlackRock Global Credit Opportunities Fund, LP(a)  $5,830,157   N/A  N/A  $3,259,801 
CVC European Mid-Market Solutions Fund(b)   1,090,430   N/A  N/A   206,342 
EJF Financial Debt Strategies Fund LP   792,471   N/A  N/A   – 
GSO Credit Alpha Fund II LP(a)   1,051,615   N/A  N/A   7,382,124 
Monroe Capital Private Credit Fund III LP(b)   3,377,237   N/A  N/A   1,498,740 
Pelham S2K SBIC II, L.P.   529,016   N/A  N/A   1,487,329 
Series B - Great Lakes Funding II LLC(a)   343,184   N/A  N/A   93,437 
Tree Line Credit Strategies LP   16,896,688   Quarterly  90   – 
Total  $29,910,798         $13,927,773 

 

Unfunded Commitments:

 

             Unfunded 
             Commitments as of 
Security  Value      Maturity  June 30, 2026 
Accordion Partners LLC, Revolver  $–      11/17/2031  $196,285 
Dun & Bradstreet Holdings, Inc., Revolver   32,882      08/26/2032   135,735 
Metrc Inc., Delayed Draw Term Loan   1,355      09/30/2031   49,286 
Metrc Inc., Revolver   (3,178)     09/30/2031   155,000 
Newbury Franklin Industrials, LLC, Delayed Draw Term Loan   442,791      12/11/2029   532,895 
Next Flight Ventures, Delayed Draw Term Loan   1,166,432      12/26/2026   266,700 
PMA Parent Holdings LLC, Revolver   (375)     01/31/2031   250,075 
PMP OPCO, LLC, Delayed Draw Term Loan   341,637      05/31/2029   136,652 
PMP OPCO, LLC, Revolver   (11,250)     05/31/2029   140,625 
Rebound Investment LP   501,200      N/A   665,000 
TA/WEG HOLDINGS, LLC, Revolver   –      10/02/2028   75,248 
VBC Spine Opco LLC (DxTX Pain and Spine LLC), Revolver   241,492      06/14/2029   161,290 
Total  $2,712,986         $2,764,791 
Total Unfunded Commitments             $16,692,564 

 

(a)A voluntary withdrawal maybe permitted at the General Partner’s discretion with the General Partner’s consent.
(b)A voluntary withdrawal maybe permitted with the General Partner’s prior written consent.