VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% | |||||||
46,207 | Loan ID 200012 | ARM | 9.8000 | 07/01/37 | $ 47,131 | ||
31,089 | Loan ID 200016 | ARM | 10.3800 | 01/01/31 | 31,711 | ||
42,174 | Loan ID 200018 | Fixed | 7.0000 | 01/01/33 | 43,018 | ||
96,419 | Loan ID 200023 | Fixed | 5.8800 | 12/01/50 | 89,661 | ||
199,973 | Loan ID 200026 | Fixed | 4.7500 | 01/01/50 | 203,969 | ||
186,878 | Loan ID 200029 | Fixed | 6.3100 | 07/01/37 | 190,616 | ||
522,410 | Loan ID 200035 | Fixed | 4.6300 | 11/01/50 | 496,290 | ||
103,142 | Loan ID 200041 | Fixed | 4.8800 | 08/01/39 | 103,334 | ||
36,294 | Loan ID 200042 | Fixed | 7.0000 | 12/01/37 | 37,020 | ||
42,177 | Loan ID 200043 | Fixed | 6.1300 | 07/01/39 | 43,020 | ||
46,253 | Loan ID 200048 | Fixed | 5.5000 | 08/01/39 | 47,178 | ||
48,380 | Loan ID 200054 | Fixed | 8.2500 | 03/01/39 | 49,347 | ||
72,667 | Loan ID 200055 | Fixed | 10.0000 | 01/05/36 | 74,120 | ||
27,794 | Loan ID 200060 | Fixed | 5.7500 | 08/01/39 | 28,350 | ||
157,871 | Loan ID 200076 | Fixed | 4.2500 | 12/01/41 | 101,720 | ||
10,817 | Loan ID 200078 | Fixed | 7.0000 | 08/01/36 | 11,033 | ||
130,884 | Loan ID 200079 | Fixed | 5.0000 | 02/01/59 | 130,260 | ||
61,587 | Loan ID 200082 | Fixed | 8.2500 | 04/01/40 | 60,365 | ||
162,932 | Loan ID 200084 | Fixed | 7.0000 | 03/01/39 | 154,529 | ||
105,857 | Loan ID 200088 | Fixed | 7.0000 | 06/01/39 | 90,912 | ||
246,974 | Loan ID 200089 | Fixed | 3.8800 | 03/01/52 | 217,858 | ||
268,582 | Loan ID 200090 | Fixed | 4.5000 | 11/01/36 | 182,859 | ||
67,124 | Loan ID 200102 | Fixed | 8.2500 | 03/01/40 | 68,466 | ||
102,161 | Loan ID 200110 | Fixed | 8.2500 | 08/01/39 | 104,204 | ||
66,079 | Loan ID 200128 | Fixed | 4.7100 | 07/01/37 | 61,041 | ||
430,721 | Loan ID 200129 | Fixed | 4.6300 | 03/01/52 | 396,237 | ||
109,176 | Loan ID 200135 | Fixed | 4.3800 | 12/01/42 | 106,731 | ||
70,789 | Loan ID 200141 | Fixed | 4.2500 | 02/01/42 | 68,498 | ||
135,682 | Loan ID 200158 | Fixed | 3.6300 | 12/01/42 | 127,455 | ||
173,813 | Loan ID 200165 | Fixed | 4.3800 | 12/01/41 | 170,078 | ||
79,350 | Loan ID 200174 | Fixed | 7.3400 | 04/01/37 | 80,937 | ||
44,675 | Loan ID 200175 | Fixed | 9.6000 | 05/01/37 | 45,568 | ||
383 | Loan ID 200177 | Fixed | 8.0000 | 01/11/22 | 391 | ||
104,065 | Loan ID 200181 | Fixed | 7.5000 | 06/01/41 | 98,862 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
65,454 | Loan ID 200184 | Fixed | 4.3800 | 12/01/42 | $ 63,955 | ||
25,311 | Loan ID 200185 | Fixed | 5.3800 | 06/01/42 | 25,768 | ||
47,846 | Loan ID 200186 | Fixed | 5.1300 | 08/01/42 | 48,295 | ||
145,362 | Loan ID 200194 | Fixed | 4.7500 | 09/01/41 | 144,840 | ||
227,084 | Loan ID 200195 | Fixed | 3.8800 | 03/01/42 | 216,984 | ||
35,914 | Loan ID 200198 | Fixed | 5.2500 | 10/01/42 | 36,392 | ||
32,386 | Loan ID 200201 | Fixed | 5.1300 | 08/01/41 | 32,727 | ||
18,385 | Loan ID 200206 | Fixed | 3.9900 | 12/01/42 | 17,658 | ||
39,520 | Loan ID 200208 | Fixed | 4.2500 | 01/01/43 | 38,436 | ||
161,353 | Loan ID 200209 | Fixed | 3.8800 | 08/01/42 | 154,117 | ||
127,586 | Loan ID 200217 | Fixed | 5.2500 | 07/01/40 | 129,436 | ||
64,895 | Loan ID 200218 | Fixed | 4.2500 | 12/01/41 | 63,247 | ||
44,745 | Loan ID 200228 | Fixed | 4.6300 | 08/01/42 | 44,238 | ||
104,186 | Loan ID 200243 | Fixed | 3.7500 | 04/01/43 | 98,548 | ||
22,775 | Loan ID 200244 | Fixed | 5.0000 | 05/01/42 | 22,836 | ||
80,025 | Loan ID 200286 | Fixed | 4.5000 | 07/01/43 | 78,679 | ||
85,201 | Loan ID 200287 | Fixed | 4.3800 | 07/01/43 | 83,256 | ||
30,233 | Loan ID 200313 | Fixed | 8.5000 | 03/01/28 | 28,721 | ||
255,045 | Loan ID 200315 | ARM | 3.3800 | 06/01/37 | 248,208 | ||
57,004 | Loan ID 200317 | Fixed | 7.0000 | 09/01/32 | 58,144 | ||
87,254 | Loan ID 200332 | Fixed | 5.7800 | 10/01/37 | 89,000 | ||
83,338 | Loan ID 200334 | Fixed | 7.0000 | 01/01/33 | 85,005 | ||
251,344 | Loan ID 200335 | Fixed | 5.0000 | 11/01/52 | 253,466 | ||
40,039 | Loan ID 200338 | ARM | 10.5000 | 08/01/29 | 38,037 | ||
15,805 | Loan ID 200340 | Fixed | 7.0000 | 03/01/30 | 16,121 | ||
52,568 | Loan ID 200348 | Fixed | 6.5000 | 07/01/38 | 53,620 | ||
58,466 | Loan ID 200352 | Fixed | 7.0000 | 08/01/30 | 59,635 | ||
54,683 | Loan ID 200358 | Fixed | 5.0000 | 04/01/25 | 54,319 | ||
58,265 | Loan ID 200361 | Fixed | 7.5000 | 01/01/34 | 59,431 | ||
78,722 | Loan ID 200366 | Fixed | 6.2500 | 03/01/34 | 80,296 | ||
146,514 | Loan ID 200368 | Fixed | 4.5000 | 04/01/36 | 144,914 | ||
62,473 | Loan ID 200374 | ARM | 7.0000 | 05/01/34 | 63,722 | ||
169,892 | Loan ID 200380 | Fixed | 4.2200 | 04/01/49 | 166,098 | ||
268,643 | Loan ID 200384 | Fixed | 5.0000 | 11/01/47 | 252,920 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
131,130 | Loan ID 200385 | Fixed | 8.2500 | 01/01/40 | $ 133,752 | ||
183,896 | Loan ID 200390 | Fixed | 4.7800 | 04/16/47 | 182,045 | ||
134,388 | Loan ID 200391 | Fixed | 4.0000 | 01/13/35 | 130,301 | ||
58,252 | Loan ID 200392 | Fixed | 10.0000 | 06/05/34 | 55,339 | ||
75,048 | Loan ID 200395 | Fixed | 4.8600 | 04/01/47 | 68,632 | ||
64,677 | Loan ID 200396 | Fixed | 10.0000 | 02/01/36 | 65,971 | ||
53,068 | Loan ID 200399 | Fixed | 4.9800 | 06/01/37 | 53,418 | ||
37,946 | Loan ID 200403 | Fixed | 8.3000 | 10/15/32 | 38,705 | ||
49,088 | Loan ID 200404 | Fixed | 8.1000 | 05/01/37 | 50,070 | ||
80,512 | Loan ID 200405 | Fixed | 4.8700 | 12/01/35 | 80,403 | ||
109,519 | Loan ID 200406 | Fixed | 4.8800 | 10/01/51 | 109,878 | ||
325,949 | Loan ID 200409 | Fixed | 6.0000 | 02/01/49 | 311,325 | ||
93,454 | Loan ID 200411 | Fixed | 8.2800 | 06/01/37 | 95,323 | ||
59,556 | Loan ID 200417 | Fixed | 7.0000 | 05/01/35 | 60,747 | ||
139,688 | Loan ID 200420 | Fixed | 4.2300 | 04/10/38 | 136,393 | ||
114,533 | Loan ID 200423 | Fixed | 4.5000 | 06/01/43 | 112,503 | ||
196,189 | Loan ID 200430 | Fixed | 3.6300 | 07/01/43 | 183,890 | ||
255,097 | Loan ID 200432 | Fixed | 4.8800 | 05/01/43 | 254,524 | ||
89,129 | Loan ID 200433 | Fixed | 4.2500 | 08/01/43 | 86,700 | ||
187,112 | Loan ID 200435 | Fixed | 4.6300 | 11/01/52 | 186,565 | ||
38,665 | Loan ID 200439 | Fixed | 5.0000 | 08/01/41 | 38,879 | ||
120,219 | Loan ID 200445 | Fixed | 5.2500 | 02/01/39 | 122,048 | ||
24,092 | Loan ID 200447 | Fixed | 5.8800 | 11/04/34 | 24,573 | ||
71,707 | Loan ID 200448 | Fixed | 5.7500 | 05/01/42 | 73,141 | ||
127,663 | Loan ID 200449 | Fixed | 5.0000 | 02/01/42 | 119,637 | ||
312,448 | Loan ID 200451 | Fixed | 6.2500 | 07/01/38 | 318,697 | ||
162,118 | Loan ID 200460 | Fixed | 7.0000 | 07/01/41 | 165,360 | ||
354,914 | Loan ID 200462 | Fixed | 6.0000 | 07/01/45 | 362,012 | ||
208,688 | Loan ID 200465 | Fixed | 6.5000 | 07/01/37 | 212,862 | ||
101,915 | Loan ID 200468 | Fixed | 5.6300 | 12/01/44 | 45,825 | ||
112,586 | Loan ID 200469 | Fixed | 6.5000 | 07/01/37 | 114,837 | ||
229,333 | Loan ID 200474 | Fixed | 5.7500 | 11/01/50 | 233,920 | ||
100,645 | Loan ID 200489 | Fixed | 4.0000 | 03/01/43 | 96,790 | ||
177,669 | Loan ID 200491 | Fixed | 5.5000 | 10/01/39 | 181,222 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
248,193 | Loan ID 200494 | Fixed | 4.6300 | 10/01/43 | $ 245,588 | ||
177,395 | Loan ID 200500 | Fixed | 5.8800 | 02/01/37 | 180,943 | ||
58,315 | Loan ID 200507 | Fixed | 4.5000 | 09/01/42 | 57,380 | ||
88,166 | Loan ID 200517 | Fixed | 8.0000 | 05/01/39 | 88,166 | ||
176,559 | Loan ID 200518 | Fixed | 3.0000 | 12/01/50 | 160,706 | ||
99,651 | Loan ID 200527 | Fixed | 4.5000 | 12/01/43 | 98,013 | ||
93,816 | Loan ID 200532 | Fixed | 3.2500 | 07/01/43 | 85,563 | ||
34,086 | Loan ID 200545 | Fixed | 4.3800 | 02/01/29 | 33,309 | ||
119,350 | Loan ID 200564 | Fixed | 4.8800 | 05/01/39 | 119,578 | ||
83,074 | Loan ID 200573 | Fixed | 3.7500 | 09/01/42 | 78,603 | ||
117,346 | Loan ID 200574 | Fixed | 4.8800 | 01/01/44 | 117,388 | ||
161,217 | Loan ID 200578 | Fixed | 4.7500 | 08/01/40 | 158,147 | ||
42,202 | Loan ID 200579 | Fixed | 4.8800 | 05/01/42 | 31,465 | ||
149,917 | Loan ID 200580 | Fixed | 4.1300 | 11/01/41 | 145,302 | ||
285,762 | Loan ID 200586 | Fixed | 3.5000 | 01/01/43 | 265,987 | ||
57,771 | Loan ID 200593 | Fixed | 3.8800 | 06/01/42 | 55,185 | ||
33,863 | Loan ID 200597 | Fixed | 5.6300 | 02/01/44 | 34,541 | ||
63,316 | Loan ID 200604 | Fixed | 3.5000 | 01/01/43 | 58,920 | ||
111,319 | Loan ID 200612 | Fixed | 4.5000 | 02/01/43 | 109,464 | ||
305,637 | Loan ID 200616 | Fixed | 4.8800 | 02/01/44 | 305,422 | ||
148,230 | Loan ID 200630 | Fixed | 5.2500 | 09/01/43 | 150,305 | ||
204,856 | Loan ID 200634 | Fixed | 4.3800 | 01/01/44 | 200,315 | ||
106,266 | Loan ID 200645 | Fixed | 5.0000 | 04/01/44 | 106,690 | ||
126,253 | Loan ID 200649 | Fixed | 4.3800 | 03/01/44 | 123,339 | ||
116,658 | Loan ID 200650 | Fixed | 4.8800 | 05/01/44 | 116,706 | ||
196,851 | Loan ID 200651 | Fixed | 3.6300 | 07/01/43 | 184,440 | ||
122,432 | Loan ID 200655 | Fixed | 3.3800 | 05/01/43 | 112,711 | ||
164,844 | Loan ID 200656 | Fixed | 6.8800 | 11/01/45 | 168,141 | ||
136,423 | Loan ID 200657 | Fixed | 4.8800 | 08/01/51 | 136,725 | ||
157,304 | Loan ID 200660 | Fixed | 5.8800 | 03/01/38 | 160,450 | ||
188,811 | Loan ID 200662 | Fixed | 5.0000 | 03/01/44 | 189,376 | ||
62,048 | Loan ID 200663 | Fixed | 4.7500 | 05/01/44 | 61,774 | ||
140,407 | Loan ID 200669 | Fixed | 5.2500 | 04/01/44 | 141,932 | ||
40,882 | Loan ID 200670 | Fixed | 4.3800 | 02/01/29 | 39,974 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
278,138 | Loan ID 200674 | Fixed | 4.5000 | 05/01/44 | $ 273,772 | ||
229,812 | Loan ID 200679 | Fixed | 5.0000 | 04/01/44 | 230,824 | ||
113,938 | Loan ID 200684 | Fixed | 4.8800 | 04/01/44 | 114,022 | ||
207,230 | Loan ID 200685 | Fixed | 4.8800 | 05/01/44 | 206,811 | ||
199,305 | Loan ID 200690 | Fixed | 4.2500 | 04/01/44 | 193,953 | ||
219,379 | Loan ID 200692 | Fixed | 4.6300 | 07/01/44 | 216,606 | ||
95,700 | Loan ID 200694 | Fixed | 4.5000 | 09/01/43 | 94,101 | ||
41,705 | Loan ID 200696 | Fixed | 3.7500 | 10/01/42 | 39,527 | ||
78,706 | Loan ID 200700 | Fixed | 4.2500 | 02/01/44 | 76,470 | ||
86,101 | Loan ID 200704 | Fixed | 4.3800 | 03/01/43 | 84,079 | ||
44,871 | Loan ID 200709 | Fixed | 4.3800 | 04/01/43 | 43,878 | ||
101,281 | Loan ID 200710 | Fixed | 4.5000 | 07/01/44 | 97,743 | ||
556,515 | Loan ID 200714 | Fixed | 4.1800 | 11/01/36 | 543,243 | ||
181,492 | Loan ID 200716 | ARM | 3.0800 | 08/01/37 | 178,686 | ||
125,827 | Loan ID 200720 | ARM | 3.5000 | 04/01/42 | 116,198 | ||
142,616 | Loan ID 200726 | Fixed | 4.3800 | 09/01/37 | 95,217 | ||
180,792 | Loan ID 200732 | Fixed | 4.1300 | 09/01/27 | 175,854 | ||
90,270 | Loan ID 200735 | Fixed | 4.5000 | 06/01/44 | 88,764 | ||
130,418 | Loan ID 200736 | Fixed | 4.7500 | 05/01/44 | 127,412 | ||
157,532 | Loan ID 200742 | Fixed | 4.2500 | 04/01/43 | 102,396 | ||
54,027 | Loan ID 200753 | Fixed | 5.2500 | 05/01/44 | 54,780 | ||
46,700 | Loan ID 200755 | Fixed | 4.2500 | 06/01/43 | 45,445 | ||
167,111 | Loan ID 200756 | Fixed | 4.8800 | 11/01/43 | 158,072 | ||
190,058 | Loan ID 200771 | Fixed | 4.5000 | 12/01/61 | 186,737 | ||
39,702 | Loan ID 200775 | Fixed | 4.2500 | 04/01/43 | 38,589 | ||
72,453 | Loan ID 200776 | Fixed | 4.2500 | 03/01/44 | 70,357 | ||
48,460 | Loan ID 200777 | Fixed | 4.7500 | 06/01/44 | 48,042 | ||
151,695 | Loan ID 200781 | Fixed | 4.6300 | 09/01/44 | 149,482 | ||
74,980 | Loan ID 200783 | Fixed | 4.7500 | 09/01/44 | 74,528 | ||
100,575 | Loan ID 200785 | Fixed | 4.5000 | 08/01/44 | 98,924 | ||
203,938 | Loan ID 200786 | Fixed | 4.6300 | 07/01/44 | 201,998 | ||
39,145 | Loan ID 200787 | Fixed | 4.7500 | 09/01/44 | 38,875 | ||
183,597 | Loan ID 200791 | Fixed | 4.8800 | 06/01/44 | 183,062 | ||
80,785 | Loan ID 200795 | Fixed | 6.7500 | 08/01/36 | 82,400 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
68,643 | Loan ID 200796 | Fixed | 5.8800 | 12/01/53 | $ 37,717 | ||
55,536 | Loan ID 200799 | Fixed | 4.0000 | 02/05/53 | 52,330 | ||
60,580 | Loan ID 200800 | Fixed | 4.0000 | 01/01/53 | 58,819 | ||
144,947 | Loan ID 200805 | Fixed | 4.6300 | 07/01/50 | 126,652 | ||
53,420 | Loan ID 200808 | Fixed | 4.2500 | 11/01/50 | 43,689 | ||
111,826 | Loan ID 200809 | Fixed | 5.0000 | 04/01/50 | 102,194 | ||
218,729 | Loan ID 200814 | Fixed | 8.2500 | 07/01/39 | 223,103 | ||
270,700 | Loan ID 200817 | Fixed | 5.0000 | 01/01/50 | 235,965 | ||
187,842 | Loan ID 200821 | Fixed | 4.2500 | 08/01/44 | 182,784 | ||
72,734 | Loan ID 200823 | Fixed | 4.2500 | 09/01/44 | 70,755 | ||
198,993 | Loan ID 200824 | Fixed | 4.2500 | 08/01/44 | 193,494 | ||
94,278 | Loan ID 200826 | Fixed | 4.3800 | 09/01/44 | 92,012 | ||
173,563 | Loan ID 200830 | ARM | 1.2500 | 07/01/44 | 158,720 | ||
36,161 | Loan ID 200831 | Fixed | 4.2500 | 10/01/44 | 35,084 | ||
255,926 | Loan ID 200832 | Fixed | 4.2500 | 10/01/44 | 244,163 | ||
142,767 | Loan ID 200834 | Fixed | 4.1300 | 07/01/43 | 137,986 | ||
161,209 | Loan ID 200846 | Fixed | 4.3800 | 11/01/43 | 157,808 | ||
94,174 | Loan ID 200853 | Fixed | 5.0000 | 04/01/37 | 94,787 | ||
247,443 | Loan ID 200858 | Fixed | 5.0000 | 01/01/53 | 249,250 | ||
146,406 | Loan ID 200860 | Fixed | 3.8800 | 03/01/52 | 137,626 | ||
243,479 | Loan ID 200866 | Fixed | 3.4000 | 05/01/53 | 228,222 | ||
105,207 | Loan ID 200867 | Fixed | 4.5800 | 09/01/53 | 104,272 | ||
169,389 | Loan ID 200880 | Fixed | 4.2500 | 06/01/43 | 164,616 | ||
51,700 | Loan ID 200883 | Fixed | 3.3800 | 05/01/28 | 47,629 | ||
72,308 | Loan ID 200886 | Fixed | 4.2500 | 10/01/44 | 70,279 | ||
204,811 | Loan ID 200887 | Fixed | 4.7500 | 09/01/44 | 203,481 | ||
184,825 | Loan ID 200891 | Fixed | 4.2500 | 10/01/44 | 179,198 | ||
221,307 | Loan ID 200892 | Fixed | 3.7500 | 09/01/43 | 209,344 | ||
174,176 | Loan ID 200897 | Fixed | 4.7500 | 10/01/44 | 173,212 | ||
355,361 | Loan ID 200907 | ARM | 3.1300 | 08/01/47 | 342,797 | ||
97,405 | Loan ID 200908 | Fixed | 4.0000 | 06/01/49 | 94,839 | ||
117,356 | Loan ID 200909 | Fixed | 4.8700 | 04/01/47 | 111,489 | ||
624,831 | Loan ID 200912 | Fixed | 4.5000 | 03/01/37 | 617,647 | ||
54,083 | Loan ID 200913 | Fixed | 4.2500 | 05/01/47 | 52,901 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
133,611 | Loan ID 200914 | Fixed | 2.8800 | 12/01/47 | $ 122,503 | ||
79,452 | Loan ID 200916 | Fixed | 4.0000 | 10/01/37 | 75,615 | ||
149,027 | Loan ID 200917 | Fixed | 4.8800 | 01/01/51 | 149,418 | ||
81,840 | Loan ID 200921 | ARM | 3.6300 | 07/01/51 | 80,194 | ||
393,659 | Loan ID 200922 | Fixed | 3.3400 | 09/01/53 | 373,019 | ||
114,781 | Loan ID 200928 | Fixed | 4.8000 | 02/01/41 | 114,808 | ||
175,059 | Loan ID 200940 | Fixed | 3.2500 | 02/01/43 | 159,777 | ||
100,745 | Loan ID 200941 | Fixed | 3.7800 | 01/01/43 | 93,610 | ||
239,536 | Loan ID 200942 | Fixed | 4.0000 | 04/01/43 | 230,207 | ||
93,807 | Loan ID 200944 | Fixed | 4.5000 | 02/01/44 | 92,123 | ||
257,409 | Loan ID 200947 | Fixed | 4.0000 | 02/01/43 | 247,389 | ||
137,980 | Loan ID 200948 | Fixed | 4.6300 | 05/01/61 | 136,378 | ||
247,560 | Loan ID 200956 | Fixed | 5.0000 | 08/01/51 | 249,239 | ||
372,374 | Loan ID 200959 | Fixed | 4.0000 | 11/01/42 | 358,150 | ||
132,642 | Loan ID 200966 | Fixed | 4.8800 | 07/01/44 | 132,596 | ||
139,577 | Loan ID 200974 | Fixed | 4.2500 | 10/01/44 | 135,712 | ||
323,048 | Loan ID 200977 | Fixed | 4.8800 | 09/01/44 | 306,818 | ||
151,518 | Loan ID 200993 | Fixed | 2.0000 | 07/15/49 | 128,762 | ||
50,785 | Loan ID 200996 | Fixed | 2.5000 | 08/01/48 | 44,460 | ||
115,999 | Loan ID 201005 | Fixed | 4.7500 | 07/01/41 | 115,492 | ||
38,435 | Loan ID 201006 | Fixed | 6.8800 | 03/01/38 | 39,204 | ||
83,521 | Loan ID 201007 | Fixed | 7.1300 | 04/01/37 | 85,192 | ||
69,272 | Loan ID 201010 | Fixed | 5.5000 | 04/01/39 | 69,272 | ||
41,956 | Loan ID 201012 | Fixed | 7.5000 | 12/01/38 | 27,271 | ||
50,994 | Loan ID 201013 | Fixed | 7.5000 | 12/01/38 | 33,146 | ||
102,056 | Loan ID 201016 | Fixed | 6.5000 | 05/01/46 | 104,097 | ||
54,148 | Loan ID 201022 | ARM | 2.3800 | 05/01/37 | 53,151 | ||
123,021 | Loan ID 201023 | Fixed | 6.4500 | 02/01/36 | 125,481 | ||
97,682 | Loan ID 201027 | ARM | 9.5400 | 03/01/37 | 99,635 | ||
128,947 | Loan ID 201032 | Fixed | 4.5000 | 11/01/44 | 126,545 | ||
75,724 | Loan ID 201036 | Fixed | 4.3800 | 12/01/44 | 73,998 | ||
63,248 | Loan ID 201037 | Fixed | 8.2500 | 07/01/39 | 64,513 | ||
85,242 | Loan ID 201041 | Fixed | 3.7500 | 11/01/52 | 81,522 | ||
102,217 | Loan ID 201043 | Fixed | 4.0000 | 04/01/39 | 96,034 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
155,225 | Loan ID 201044 | Fixed | 4.8700 | 03/29/37 | $ 155,590 | ||
95,735 | Loan ID 201045 | Fixed | 3.3800 | 07/01/37 | 83,018 | ||
276,448 | Loan ID 201046 | Fixed | 3.0000 | 10/01/58 | 156,631 | ||
102,717 | Loan ID 201047 | Fixed | 3.6300 | 04/01/53 | 94,776 | ||
61,421 | Loan ID 201053 | Fixed | 3.8600 | 07/01/53 | 59,107 | ||
188,013 | Loan ID 201054 | Fixed | 2.4000 | 05/17/50 | 160,292 | ||
144,118 | Loan ID 201057 | Fixed | 4.3800 | 01/01/50 | 141,843 | ||
101,975 | Loan ID 201058 | Fixed | 4.2500 | 08/01/37 | 99,742 | ||
91,205 | Loan ID 201060 | ARM | 2.3800 | 07/01/35 | 87,550 | ||
76,772 | Loan ID 201061 | Fixed | 5.0000 | 02/01/50 | 73,015 | ||
105,727 | Loan ID 201063 | Fixed | 4.0000 | 09/01/47 | 102,264 | ||
212,104 | Loan ID 201066 | Fixed | 4.2500 | 12/01/46 | 207,611 | ||
396,843 | Loan ID 201067 | Fixed | 4.7500 | 01/01/44 | 394,620 | ||
61,370 | Loan ID 201069 | Fixed | 4.6300 | 12/01/44 | 60,724 | ||
68,345 | Loan ID 201072 | Fixed | 3.5000 | 03/01/28 | 63,636 | ||
85,704 | Loan ID 201075 | Fixed | 4.3800 | 10/01/44 | 83,717 | ||
204,916 | Loan ID 201084 | Fixed | 5.0000 | 08/01/38 | 206,274 | ||
143,282 | Loan ID 201091 | Fixed | 4.1300 | 01/01/45 | 138,200 | ||
230,901 | Loan ID 201092 | Fixed | 5.2500 | 04/01/46 | 233,890 | ||
127,812 | Loan ID 201093 | Fixed | 4.1300 | 02/01/45 | 115,532 | ||
318,423 | Loan ID 201101 | Fixed | 4.6300 | 03/01/45 | 309,211 | ||
136,013 | Loan ID 201103 | ARM | 2.1300 | 05/01/44 | 128,103 | ||
146,075 | Loan ID 201104 | Fixed | 4.3800 | 04/01/45 | 142,944 | ||
66,154 | Loan ID 201107 | Fixed | 5.1500 | 02/01/36 | 66,986 | ||
147,509 | Loan ID 201111 | Fixed | 4.8800 | 04/01/50 | 133,965 | ||
75,141 | Loan ID 201113 | Fixed | 5.7500 | 12/01/52 | 76,644 | ||
114,477 | Loan ID 201114 | Fixed | 8.0900 | 05/01/54 | 116,766 | ||
468,846 | Loan ID 201115 | Fixed | 4.0000 | 02/01/51 | 453,283 | ||
74,426 | Loan ID 201122 | Fixed | 4.7500 | 11/01/48 | 74,371 | ||
205,679 | Loan ID 201124 | Fixed | 4.7500 | 04/01/40 | 205,202 | ||
67,258 | Loan ID 201127 | ARM | 2.3800 | 04/01/37 | 64,339 | ||
103,996 | Loan ID 201130 | Fixed | 4.8500 | 12/01/37 | 103,650 | ||
113,918 | Loan ID 201131 | Fixed | 8.2500 | 05/01/53 | 116,196 | ||
154,853 | Loan ID 201132 | Fixed | 4.2500 | 07/01/37 | 139,662 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
177,436 | Loan ID 201134 | Fixed | 4.6300 | 10/01/53 | $ 163,303 | ||
164,656 | Loan ID 201139 | Fixed | 3.0000 | 11/01/53 | 149,706 | ||
77,303 | Loan ID 201143 | Fixed | 3.5000 | 11/01/37 | 67,817 | ||
124,161 | Loan ID 201146 | Fixed | 4.8800 | 08/01/54 | 124,477 | ||
103,126 | Loan ID 201147 | Fixed | 4.1300 | 11/01/51 | 96,183 | ||
85,300 | Loan ID 201148 | Fixed | 3.9500 | 10/01/42 | 82,827 | ||
344,579 | Loan ID 201149 | Fixed | 5.0000 | 12/01/61 | 135,523 | ||
88,115 | Loan ID 201155 | Fixed | 6.0000 | 11/01/53 | 60,915 | ||
187,167 | Loan ID 201160 | Fixed | 4.9200 | 10/01/49 | 173,042 | ||
356,020 | Loan ID 201163 | Fixed | 4.7500 | 12/01/49 | 322,989 | ||
156,230 | Loan ID 201164 | Fixed | 4.2500 | 11/01/51 | 151,102 | ||
399,033 | Loan ID 201168 | Fixed | 3.8800 | 04/01/52 | 363,664 | ||
49,982 | Loan ID 201170 | Fixed | 4.3800 | 07/01/37 | 49,160 | ||
101,447 | Loan ID 201173 | Fixed | 4.2800 | 11/01/47 | 83,770 | ||
121,426 | Loan ID 201176 | Fixed | 4.2500 | 07/01/53 | 119,129 | ||
289,034 | Loan ID 201179 | Fixed | 4.7500 | 05/01/51 | 260,315 | ||
249,559 | Loan ID 201181 | Fixed | 4.5000 | 04/01/34 | 237,081 | ||
124,360 | Loan ID 201183 | Fixed | 3.5000 | 10/01/52 | 117,563 | ||
58,455 | Loan ID 201184 | Fixed | 4.0000 | 06/01/49 | 56,874 | ||
229,644 | Loan ID 201185 | Fixed | 7.2500 | 10/01/53 | 234,237 | ||
75,792 | Loan ID 201187 | Fixed | 5.0000 | 11/01/48 | 54,729 | ||
572,126 | Loan ID 201196 | Fixed | 4.3800 | 11/01/36 | 562,882 | ||
303,197 | Loan ID 201199 | Fixed | 5.1300 | 11/01/46 | 306,654 | ||
134,634 | Loan ID 201205 | Fixed | 4.6300 | 01/01/45 | 133,045 | ||
104,491 | Loan ID 201208 | Fixed | 4.6300 | 04/01/45 | 103,071 | ||
163,291 | Loan ID 201209 | Fixed | 4.2500 | 04/01/45 | 158,799 | ||
386,665 | Loan ID 201212 | Fixed | 4.6300 | 03/01/61 | 382,621 | ||
178,996 | Loan ID 201213 | Fixed | 4.8800 | 08/01/44 | 178,187 | ||
486,423 | Loan ID 201214 | ARM | 2.7500 | 09/01/43 | 457,202 | ||
56,186 | Loan ID 201221 | Fixed | 3.2500 | 05/01/43 | 53,758 | ||
44,334 | Loan ID 201222 | Fixed | 5.1300 | 01/01/45 | 44,339 | ||
143,463 | Loan ID 201240 | Fixed | 4.2500 | 10/01/45 | 139,046 | ||
270,433 | Loan ID 201241 | Fixed | 4.3800 | 07/01/45 | 264,811 | ||
100,570 | Loan ID 201243 | Fixed | 4.6300 | 11/01/45 | 99,407 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
365,252 | Loan ID 201244 | Fixed | 4.5000 | 06/01/45 | $ 359,170 | ||
103,416 | Loan ID 201245 | Fixed | 4.7500 | 08/01/44 | 102,906 | ||
92,106 | Loan ID 201248 | Fixed | 4.8800 | 07/01/44 | 91,814 | ||
456,329 | Loan ID 201249 | Fixed | 4.6300 | 03/01/59 | 449,597 | ||
193,973 | Loan ID 201254 | Fixed | 7.2500 | 05/01/60 | 197,852 | ||
212,770 | Loan ID 201255 | ARM | 6.7500 | 06/01/35 | 217,025 | ||
158,008 | Loan ID 201260 | Fixed | 4.7500 | 09/01/45 | 156,752 | ||
45,787 | Loan ID 201263 | Fixed | 4.7500 | 10/01/45 | 45,479 | ||
134,222 | Loan ID 201266 | Fixed | 4.5000 | 02/01/46 | 131,562 | ||
137,296 | Loan ID 201270 | Fixed | 4.1300 | 02/01/45 | 132,473 | ||
232,134 | Loan ID 201271 | Fixed | 4.5000 | 06/01/45 | 228,196 | ||
221,660 | Loan ID 201273 | Fixed | 4.5000 | 12/01/45 | 217,246 | ||
198,389 | Loan ID 201274 | Fixed | 4.1300 | 10/01/45 | 191,531 | ||
22,525 | Loan ID 201285 | Fixed | 4.6300 | 11/01/28 | 22,976 | ||
280,707 | Loan ID 201291 | Fixed | 5.0000 | 08/01/45 | 280,438 | ||
113,167 | Loan ID 201294 | Fixed | 4.6300 | 02/01/46 | 110,039 | ||
701,926 | Loan ID 201296 | Fixed | 4.2500 | 02/01/46 | 679,807 | ||
66,403 | Loan ID 201301 | Fixed | 4.5500 | 10/01/44 | 65,423 | ||
136,381 | Loan ID 201305 | Fixed | 4.6300 | 08/01/44 | 134,525 | ||
106,796 | Loan ID 201306 | Fixed | 3.8800 | 09/01/45 | 101,516 | ||
163,078 | Loan ID 201307 | Fixed | 4.2500 | 10/01/48 | 158,411 | ||
57,456 | Loan ID 201308 | Fixed | 4.6300 | 11/01/45 | 56,672 | ||
148,847 | Loan ID 201309 | Fixed | 4.0000 | 09/01/45 | 142,781 | ||
297,241 | Loan ID 201313 | Fixed | 4.6300 | 01/01/46 | 292,921 | ||
158,247 | Loan ID 201319 | Fixed | 4.3800 | 10/01/45 | 154,416 | ||
126,207 | Loan ID 201324 | Fixed | 5.2500 | 04/01/46 | 127,723 | ||
163,224 | Loan ID 201326 | Fixed | 4.6300 | 03/01/46 | 161,252 | ||
175,688 | Loan ID 201328 | Fixed | 4.2500 | 11/01/45 | 123,177 | ||
340,888 | Loan ID 201333 | Fixed | 3.8800 | 11/01/45 | 323,827 | ||
176,941 | Loan ID 201336 | Fixed | 4.7500 | 01/01/46 | 172,652 | ||
221,008 | Loan ID 201350 | Fixed | 4.0000 | 06/01/45 | 179,818 | ||
461,567 | Loan ID 201354 | Fixed | 3.3800 | 07/01/46 | 442,878 | ||
125,699 | Loan ID 201355 | Fixed | 5.2500 | 12/01/45 | 127,330 | ||
140,034 | Loan ID 201358 | Fixed | 4.8800 | 07/01/45 | 139,944 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
313,028 | Loan ID 201365 | Fixed | 4.2500 | 10/01/45 | $ 303,061 | ||
168,893 | Loan ID 201370 | Fixed | 4.2500 | 07/01/46 | 163,803 | ||
241,889 | Loan ID 201372 | Fixed | 4.6300 | 08/01/46 | 238,233 | ||
133,219 | Loan ID 201375 | Fixed | 4.5000 | 06/01/45 | 130,947 | ||
250,600 | Loan ID 201377 | Fixed | 3.8800 | 05/01/46 | 244,365 | ||
294,145 | Loan ID 201381 | Fixed | 4.8800 | 07/01/45 | 293,375 | ||
129,299 | Loan ID 201385 | Fixed | 4.6300 | 12/01/45 | 129,299 | ||
213,000 | Loan ID 201390 | Fixed | 5.1300 | 09/01/45 | 214,045 | ||
369,885 | Loan ID 201391 | Fixed | 5.1300 | 10/01/45 | 365,593 | ||
404,891 | Loan ID 201393 | Fixed | 3.7500 | 04/01/56 | 397,752 | ||
68,792 | Loan ID 201394 | Fixed | 6.7000 | 06/01/34 | 70,168 | ||
80,369 | Loan ID 201395 | Fixed | 6.3000 | 07/01/44 | 23,434 | ||
79,834 | Loan ID 201400 | Fixed | 4.7500 | 07/01/44 | 79,409 | ||
83,665 | Loan ID 201401 | Fixed | 4.7500 | 10/01/44 | 83,160 | ||
87,444 | Loan ID 201403 | Fixed | 4.7500 | 08/01/44 | 79,338 | ||
66,931 | Loan ID 201405 | Fixed | 5.2500 | 08/01/44 | 67,727 | ||
51,006 | Loan ID 201406 | Fixed | 4.2500 | 06/01/46 | 49,324 | ||
226,559 | Loan ID 201407 | Fixed | 4.8800 | 01/01/46 | 226,492 | ||
152,891 | Loan ID 201411 | Fixed | 4.7500 | 12/01/45 | 151,922 | ||
133,909 | Loan ID 201412 | Fixed | 5.7500 | 12/01/45 | 136,588 | ||
315,251 | Loan ID 201413 | Fixed | 4.5000 | 07/01/45 | 299,489 | ||
68,644 | Loan ID 201414 | Fixed | 4.2500 | 07/01/44 | 65,212 | ||
50,673 | Loan ID 201415 | Fixed | 8.0000 | 04/01/34 | 51,686 | ||
55,110 | Loan ID 201417 | Fixed | 6.0000 | 08/01/37 | 56,212 | ||
37,890 | Loan ID 201419 | Fixed | 10.0000 | 11/01/33 | 38,647 | ||
53,346 | Loan ID 201422 | Fixed | 4.6300 | 10/01/46 | 52,439 | ||
496,990 | Loan ID 201428 | ARM | 2.5000 | 04/01/45 | 471,769 | ||
91,639 | Loan ID 201434 | Fixed | 4.3800 | 06/01/46 | 89,414 | ||
83,979 | Loan ID 201436 | Fixed | 4.3800 | 05/01/45 | 82,057 | ||
167,847 | Loan ID 201439 | Fixed | 5.0000 | 12/01/45 | 168,439 | ||
298,374 | Loan ID 201440 | Fixed | 4.6300 | 07/01/46 | 213,321 | ||
279,990 | Loan ID 201442 | Fixed | 4.8800 | 12/01/45 | 279,528 | ||
47,569 | Loan ID 201444 | Fixed | 4.5000 | 11/01/44 | 46,659 | ||
235,904 | Loan ID 201447 | Fixed | 4.8800 | 10/01/44 | 235,183 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
85,754 | Loan ID 201449 | Fixed | 4.0000 | 08/01/44 | $ 82,200 | ||
208,142 | Loan ID 201451 | Fixed | 4.2500 | 06/01/45 | 201,815 | ||
218,568 | Loan ID 201458 | Fixed | 3.8800 | 09/01/46 | 203,281 | ||
250,718 | Loan ID 201461 | Fixed | 4.1300 | 12/01/44 | 236,497 | ||
278,224 | Loan ID 201464 | Fixed | 4.3800 | 06/01/45 | 266,863 | ||
94,925 | Loan ID 201465 | Fixed | 5.1300 | 12/01/44 | 95,482 | ||
260,764 | Loan ID 201470 | Fixed | 4.3800 | 10/01/44 | 254,422 | ||
209,224 | Loan ID 201471 | Fixed | 4.5000 | 01/01/45 | 205,407 | ||
285,385 | Loan ID 201473 | Fixed | 4.5000 | 02/01/45 | 280,977 | ||
91,119 | Loan ID 201475 | ARM | 6.6300 | 09/01/36 | 12,522 | ||
133,930 | Loan ID 201476 | ARM | 8.5000 | 02/01/37 | 127,234 | ||
74,604 | Loan ID 201477 | Fixed | 6.7500 | 11/01/36 | 76,096 | ||
100,216 | Loan ID 201478 | Fixed | 4.6300 | 10/01/45 | 98,965 | ||
139,869 | Loan ID 201482 | Fixed | 4.6300 | 02/01/51 | 137,666 | ||
275,895 | Loan ID 201483 | Fixed | 4.1300 | 12/01/45 | 266,090 | ||
71,474 | Loan ID 201484 | Fixed | 4.5000 | 10/01/46 | 69,954 | ||
56,360 | Loan ID 201485 | Fixed | 5.7500 | 03/01/38 | 57,487 | ||
157,136 | Loan ID 201487 | Fixed | 4.6300 | 02/01/52 | 160,279 | ||
85,863 | Loan ID 201489 | Fixed | 4.7500 | 03/01/46 | 85,213 | ||
72,096 | Loan ID 201499 | Fixed | 4.7500 | 05/01/45 | 71,813 | ||
98,512 | Loan ID 201502 | Fixed | 5.2500 | 04/01/44 | 99,842 | ||
139,537 | Loan ID 201503 | Fixed | 5.0000 | 07/01/46 | 139,985 | ||
420,690 | Loan ID 201504 | Fixed | 4.5000 | 07/01/45 | 413,828 | ||
85,710 | Loan ID 201505 | ARM | 4.0000 | 09/01/46 | 86,271 | ||
287,926 | Loan ID 201506 | Fixed | 5.0000 | 02/01/47 | 288,948 | ||
209,274 | Loan ID 201508 | Fixed | 5.0000 | 02/01/47 | 210,310 | ||
114,883 | Loan ID 201513 | Fixed | 4.0000 | 01/01/46 | 114,883 | ||
70,428 | Loan ID 201515 | Fixed | 5.1300 | 04/01/47 | 70,538 | ||
89,785 | Loan ID 201519 | Fixed | 4.7500 | 09/01/45 | 89,343 | ||
74,383 | Loan ID 201523 | Fixed | 5.1300 | 07/01/45 | 75,045 | ||
354,967 | Loan ID 201533 | Fixed | 4.7500 | 05/01/46 | 351,128 | ||
39,678 | Loan ID 201534 | Fixed | 4.8800 | 05/01/47 | 39,424 | ||
311,768 | Loan ID 201535 | Fixed | 4.8800 | 08/01/47 | 311,768 | ||
189,985 | Loan ID 201551 | Fixed | 4.5000 | 02/01/47 | 166,843 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
129,079 | Loan ID 201552 | Fixed | 4.0000 | 08/01/47 | $ 128,900 | ||
44,990 | Loan ID 201556 | Fixed | 4.9900 | 12/01/47 | 44,668 | ||
125,276 | Loan ID 201558 | Fixed | 4.5000 | 08/01/47 | 125,276 | ||
99,522 | Loan ID 201579 | Fixed | 4.7500 | 12/01/36 | 98,851 | ||
80,240 | Loan ID 201581 | Fixed | 4.1300 | 10/01/46 | 77,140 | ||
81,652 | Loan ID 201583 | Fixed | 5.2500 | 08/01/47 | 53,074 | ||
42,258 | Loan ID 201585 | Fixed | 5.5000 | 03/01/48 | 43,014 | ||
366,633 | Loan ID 201586 | Fixed | 4.6300 | 05/01/47 | 359,628 | ||
296,992 | Loan ID 201587 | Fixed | 4.3800 | 01/01/48 | 289,196 | ||
33,557 | Loan ID 201589 | Fixed | 5.3800 | 06/01/48 | 33,775 | ||
138,286 | Loan ID 201590 | Fixed | 5.2000 | 05/01/48 | 83,537 | ||
301,723 | Loan ID 201591 | Fixed | 5.3800 | 08/01/48 | 305,177 | ||
62,393 | Loan ID 201598 | Fixed | 6.0000 | 01/01/37 | 63,641 | ||
324,234 | Loan ID 201599 | Fixed | 5.0000 | 07/01/38 | 245,936 | ||
44,013 | Loan ID 201600 | Fixed | 6.0000 | 01/01/36 | 24,718 | ||
34,404 | Loan ID 201602 | Fixed | 5.0000 | 04/20/32 | 34,639 | ||
58,302 | Loan ID 201604 | Fixed | 8.5000 | 01/01/48 | 50,965 | ||
66,846 | Loan ID 201605 | Fixed | 8.7500 | 03/01/48 | 68,183 | ||
88,114 | Loan ID 201606 | Fixed | 9.9900 | 05/01/48 | 89,876 | ||
58,983 | Loan ID 201611 | Fixed | 9.9900 | 07/01/48 | 10,636 | ||
253,102 | Loan ID 201612 | Fixed | 8.9900 | 10/01/25 | 258,164 | ||
492,634 | Loan ID 201615 | Fixed | 10.5000 | 01/01/22 | 502,486 | ||
28,515 | Loan ID 201624 | Fixed | 11.0000 | 07/22/28 | 27,089 | ||
42,675 | Loan ID 201627 | Fixed | 10.4500 | 02/19/47 | 43,528 | ||
48,024 | Loan ID 201628 | Fixed | 11.0000 | 07/25/40 | 48,984 | ||
35,106 | Loan ID 201629 | Fixed | 11.0000 | 03/06/33 | 35,106 | ||
46,187 | Loan ID 201630(a) | Fixed | 9.9500 | 01/28/20 | 43,878 | ||
41,615 | Loan ID 201631 | Fixed | 9.9500 | 07/25/31 | 39,535 | ||
64,026 | Loan ID 201634 | Fixed | 7.9500 | 02/28/48 | 60,824 | ||
64,513 | Loan ID 201635 | Fixed | 9.9500 | 03/14/46 | 65,803 | ||
73,431 | Loan ID 201636 | Fixed | 9.4500 | 05/13/31 | 74,900 | ||
97,519 | Loan ID 201637 | Fixed | 11.0000 | 05/22/45 | 99,469 | ||
136,830 | Loan ID 201638 | Fixed | 8.5000 | 09/19/44 | 139,567 | ||
313,639 | Loan ID 201639 | Fixed | 5.0000 | 09/01/48 | 313,639 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
335,174 | Loan ID 201640 | Fixed | 5.1300 | 04/01/49 | $ 336,579 | ||
158,632 | Loan ID 201641(a) | DSI | 10.5000 | 06/01/20 | 150,700 | ||
669,302 | Loan ID 201645(a) | Fixed | 8.0000 | 07/01/20 | 104,175 | ||
39,889 | Loan ID 201647 | Fixed | 6.0000 | 10/01/31 | 40,687 | ||
29,645 | Loan ID 201648 | Fixed | 7.1500 | 08/14/30 | 28,163 | ||
52,597 | Loan ID 201649 | Fixed | 4.8000 | 02/20/30 | 52,813 | ||
35,505 | Loan ID 201650 | Fixed | 7.0000 | 11/14/31 | 36,215 | ||
49,853 | Loan ID 201651 | Fixed | 7.0000 | 12/01/36 | 34,086 | ||
247,013 | Loan ID 201652 | Fixed | 5.0000 | 10/01/36 | 115,617 | ||
192,718 | Loan ID 201653 | Fixed | 4.2500 | 06/01/48 | 192,718 | ||
432,995 | Loan ID 201654 | Fixed | 4.8800 | 07/01/49 | 432,112 | ||
145,632 | Loan ID 201655 | Fixed | 7.7000 | 01/01/49 | 148,545 | ||
115,691 | Loan ID 201656 | Fixed | 4.6300 | 06/01/49 | 113,029 | ||
240,518 | Loan ID 201657 | Fixed | 5.2500 | 11/01/48 | 242,739 | ||
127,693 | Loan ID 201662 | Fixed | 5.3800 | 09/01/48 | 128,325 | ||
415,268 | Loan ID 201663 | Fixed | 4.7500 | 10/01/48 | 415,268 | ||
18,974 | Loan ID 201664 | Fixed | 10.0000 | 08/01/33 | 18,974 | ||
41,064 | Loan ID 201665 | Fixed | 9.9900 | 08/01/48 | 41,885 | ||
17,714 | Loan ID 201666 | Fixed | 10.0000 | 06/01/33 | 18,069 | ||
16,435 | Loan ID 201667 | Fixed | 10.0000 | 07/01/33 | 16,764 | ||
15,419 | Loan ID 201668 | Fixed | 9.7500 | 11/01/33 | 15,727 | ||
55,040 | Loan ID 201670 | Fixed | 8.0000 | 09/15/48 | 55,040 | ||
22,492 | Loan ID 201671 | Fixed | 9.0000 | 09/15/48 | 22,492 | ||
21,007 | Loan ID 201672 | Fixed | 9.9000 | 10/15/48 | 21,427 | ||
51,144 | Loan ID 201673 | Fixed | 9.9900 | 06/01/48 | 52,167 | ||
23,779 | Loan ID 201674 | Fixed | 9.9000 | 12/01/48 | 24,255 | ||
110,926 | Loan ID 201676 | Fixed | 9.6300 | 10/01/48 | 113,145 | ||
79,568 | Loan ID 201677 | Fixed | 9.2500 | 11/01/48 | 81,159 | ||
23,767 | Loan ID 201678 | Fixed | 10.0000 | 08/01/48 | 24,243 | ||
42,309 | Loan ID 201679 | Fixed | 7.7000 | 03/01/47 | 43,155 | ||
39,139 | Loan ID 201680 | Fixed | 9.9000 | 09/15/48 | 39,922 | ||
176,056 | Loan ID 201682 | Fixed | 5.0000 | 07/01/48 | 123,086 | ||
399,859 | Loan ID 201684 | Fixed | 4.5000 | 08/01/49 | 391,993 | ||
282,194 | Loan ID 201685 | Fixed | 5.5000 | 02/01/49 | 284,646 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
99,656 | Loan ID 201686 | Fixed | 4.2500 | 07/01/49 | $ 95,997 | ||
104,929 | Loan ID 201687 | Fixed | 5.5000 | 07/01/48 | 96,418 | ||
203,956 | Loan ID 201689 | Fixed | 4.5000 | 04/01/49 | 200,062 | ||
154,875 | Loan ID 201692 | Fixed | 8.4900 | 11/01/29 | 157,972 | ||
64,145 | Loan ID 201696 | Fixed | 5.1300 | 10/01/48 | 64,128 | ||
82,342 | Loan ID 201698 | Fixed | 4.3800 | 12/01/47 | 79,679 | ||
262,044 | Loan ID 201699 | Fixed | 5.5200 | 09/01/49 | 264,775 | ||
319,335 | Loan ID 201700 | Fixed | 6.1300 | 06/01/49 | 325,722 | ||
61,644 | Loan ID 201701 | Fixed | 5.0000 | 08/01/49 | 61,350 | ||
177,365 | Loan ID 201707 | Fixed | 4.8800 | 08/01/49 | 167,235 | ||
203,177 | Loan ID 201709 | Fixed | 5.3300 | 09/01/49 | 201,775 | ||
145,528 | Loan ID 201710 | Fixed | 6.7000 | 11/01/49 | 148,438 | ||
717,034 | Loan ID 201711 | Fixed | 4.8800 | 10/01/49 | 707,357 | ||
183,604 | Loan ID 201713 | Fixed | 10.1100 | 12/01/49 | 174,424 | ||
108,099 | Loan ID 201715 | Fixed | 10.1300 | 12/01/49 | 110,261 | ||
235,820 | Loan ID 201716 | Fixed | 10.1500 | 12/01/49 | 240,537 | ||
431,952 | Loan ID 201717 | Fixed | 6.5000 | 12/01/48 | 440,591 | ||
115,707 | Loan ID 201719 | Fixed | 4.7500 | 09/01/49 | 115,707 | ||
135,937 | Loan ID 201720 | Fixed | 4.3800 | 04/01/49 | 132,058 | ||
248,381 | Loan ID 201724 | Fixed | 5.3800 | 01/01/49 | 138,948 | ||
76,451 | Loan ID 201725 | Fixed | 8.4900 | 12/01/22 | 72,629 | ||
55,046 | Loan ID 201726 | Fixed | 8.4900 | 12/01/22 | 52,294 | ||
73,825 | Loan ID 201728 | Fixed | 9.4900 | 01/01/22 | 75,301 | ||
126,844 | Loan ID 201732 | Fixed | 5.1300 | 05/01/47 | 127,188 | ||
77,408 | Loan ID 201733 | Fixed | 5.2500 | 04/01/44 | 78,513 | ||
124,840 | Loan ID 201739 | ARM | 7.1300 | 04/01/48 | 127,337 | ||
226,345 | Loan ID 201741 | ARM | 8.0000 | 07/01/48 | 230,871 | ||
138,886 | Loan ID 201743 | Fixed | 5.5000 | 09/01/48 | 140,187 | ||
289,664 | Loan ID 201744 | Fixed | 5.6300 | 05/01/49 | 289,664 | ||
365,238 | Loan ID 201746 | Fixed | 4.8800 | 07/01/49 | 362,645 | ||
541,223 | Loan ID 201750 | Fixed | 6.1300 | 04/01/50 | 552,047 | ||
1,095,266 | Loan ID 201753 | Fixed | 4.8800 | 04/01/50 | 1,096,664 | ||
248,290 | Loan ID 201756 | Fixed | 5.0000 | 03/01/50 | 248,710 | ||
272,373 | Loan ID 201757 | ARM | 5.1300 | 04/01/50 | 276,563 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
414,940 | Loan ID 201758 | Fixed | 5.8800 | 03/01/50 | $ 417,349 | ||
258,302 | Loan ID 201759 | ARM | 5.7500 | 03/01/50 | 262,617 | ||
255,778 | Loan ID 201761 | Fixed | 6.8800 | 02/01/50 | 260,894 | ||
421,752 | Loan ID 201762 | Fixed | 5.9900 | 03/01/50 | 430,187 | ||
144,596 | Loan ID 201763 | Fixed | 7.3800 | 04/01/50 | 147,488 | ||
215,253 | Loan ID 201767 | Fixed | 5.2500 | 07/01/49 | 215,253 | ||
188,043 | Loan ID 201768 | Fixed | 6.7500 | 04/01/50 | 191,804 | ||
214,390 | Loan ID 201770 | Fixed | 9.3800 | 04/01/50 | 218,678 | ||
348,515 | Loan ID 201772 | Fixed | 8.1300 | 03/01/50 | 365,941 | ||
708,380 | Loan ID 201776 | Fixed | 6.6300 | 01/01/50 | 722,547 | ||
124,456 | Loan ID 201777 | Fixed | 5.8800 | 04/01/49 | 126,945 | ||
441,294 | Loan ID 201780 | Fixed | 6.1300 | 04/01/50 | 444,408 | ||
303,076 | Loan ID 201784 | Fixed | 6.7500 | 04/01/50 | 318,230 | ||
273,000 | Loan ID 201785 | Interest Only | 8.0000 | 08/31/23 | 286,650 | ||
935,000 | Loan ID 201787 | ARM | 6.3500 | 03/01/60 | 953,699 | ||
253,485 | Loan ID 201795 | Interest Only | 7.5000 | 10/31/25 | 266,159 | ||
247,000 | Loan ID 201797(a) | Fixed | 10.9900 | 12/01/21 | 247,000 | ||
752,300 | Loan ID 201800 | Interest Only | 7.5000 | 12/31/23 | 750,420 | ||
34,922 | Loan ID 201802 | Fixed | 4.2500 | 10/01/29 | 34,965 | ||
25,560 | Loan ID 201803 | Fixed | 7.0500 | 09/01/34 | 26,071 | ||
173,214 | Loan ID 201804 | Fixed | 4.0000 | 03/01/58 | 172,504 | ||
109,136 | Loan ID 201805 | Fixed | 4.3800 | 08/01/59 | 109,810 | ||
27,172 | Loan ID 201806 | DSI | 9.0000 | 06/01/26 | 27,715 | ||
71,645 | Loan ID 201807 | Fixed | 5.0000 | 08/01/43 | 67,144 | ||
119,048 | Loan ID 201808 | Fixed | 3.8800 | 06/01/60 | 117,834 | ||
164,064 | Loan ID 201809 | Fixed | 3.7500 | 11/01/59 | 161,262 | ||
74,518 | Loan ID 201810 | Fixed | 3.7500 | 02/01/42 | 72,364 | ||
61,326 | Loan ID 201811 | DSI | 11.8300 | 05/01/35 | 62,552 | ||
30,989 | Loan ID 201812 | Fixed | 9.2400 | 02/01/27 | 31,609 | ||
75,885 | Loan ID 201813 | DSI | 6.0000 | 01/01/39 | 55,406 | ||
48,991 | Loan ID 201814 | DSI | 7.7400 | 03/01/33 | 49,970 | ||
66,155 | Loan ID 201815 | Fixed | 8.0000 | 09/01/33 | 67,478 | ||
51,896 | Loan ID 201816 | Fixed | 4.6300 | 04/01/29 | 49,301 | ||
96,997 | Loan ID 201817 | Fixed | 4.1300 | 10/01/34 | 97,132 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
54,542 | Loan ID 201818 | Fixed | 10.3900 | 12/01/41 | $ 55,633 | ||
53,204 | Loan ID 201819 | Fixed | 3.8800 | 11/01/29 | 53,224 | ||
94,448 | Loan ID 201820 | Fixed | 3.7500 | 03/01/42 | 92,921 | ||
65,731 | Loan ID 201821 | Fixed | 6.4500 | 05/01/30 | 67,046 | ||
48,649 | Loan ID 201822 | DSI | 8.9200 | 01/01/36 | 46,217 | ||
72,251 | Loan ID 201823 | Fixed | 9.6300 | 03/01/40 | 72,810 | ||
276,904 | Loan ID 201824 | DSI | 8.5000 | 10/01/37 | 282,442 | ||
125,030 | Loan ID 201825 | Fixed | 3.8800 | 03/01/40 | 121,419 | ||
62,040 | Loan ID 201826 | Fixed | 8.5000 | 11/01/30 | 63,281 | ||
29,389 | Loan ID 201827 | Fixed | 10.7800 | 03/01/26 | 29,977 | ||
28,759 | Loan ID 201828 | Fixed | 8.2500 | 10/01/30 | 29,335 | ||
110,771 | Loan ID 201829 | DSI | 10.4600 | 08/01/37 | 112,986 | ||
32,813 | Loan ID 201830 | DSI | 10.5600 | 10/01/26 | 31,172 | ||
62,302 | Loan ID 201831 | DSI | 11.1100 | 02/01/38 | 63,548 | ||
53,622 | Loan ID 201832 | Fixed | 6.2500 | 06/01/34 | 45,671 | ||
36,387 | Loan ID 201833 | DSI | 12.6800 | 06/01/23 | 37,115 | ||
60,495 | Loan ID 201834 | DSI | 9.1500 | 04/01/38 | 61,705 | ||
35,988 | Loan ID 201835 | DSI | 7.5000 | 01/01/27 | 36,708 | ||
28,117 | Loan ID 201836 | DSI | 8.8400 | 07/01/27 | 28,679 | ||
45,568 | Loan ID 201837 | DSI | 7.0000 | 09/01/31 | 46,479 | ||
45,214 | Loan ID 201838 | DSI | 9.0700 | 07/01/27 | 46,119 | ||
43,083 | Loan ID 201839 | DSI | 11.1100 | 08/01/39 | 43,945 | ||
66,855 | Loan ID 201840 | DSI | 10.8700 | 10/01/41 | 68,192 | ||
39,542 | Loan ID 201841 | Fixed | 10.0600 | 05/01/25 | 40,333 | ||
70,730 | Loan ID 201842 | DSI | 11.0300 | 03/01/28 | 72,144 | ||
34,342 | Loan ID 201843 | Fixed | 9.1800 | 08/01/31 | 35,028 | ||
46,463 | Loan ID 201844 | DSI | 11.4900 | 11/01/28 | 47,393 | ||
19,407 | Loan ID 201845 | DSI | 7.0000 | 02/01/24 | 19,795 | ||
42,339 | Loan ID 201846 | Fixed | 8.5000 | 05/01/34 | 43,185 | ||
122,848 | Loan ID 201847 | Fixed | 2.3800 | 06/01/33 | 110,407 | ||
53,487 | Loan ID 201848 | DSI | 4.2900 | 11/01/32 | 54,116 | ||
51,102 | Loan ID 201849 | DSI | 4.4800 | 06/01/35 | 51,982 | ||
93,505 | Loan ID 201850 | Fixed | 4.6300 | 10/01/42 | 92,921 | ||
124,298 | Loan ID 201851 | DSI | 4.5000 | 08/30/23 | 126,267 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
90,433 | Loan ID 201853 | DSI | 4.9100 | 02/01/34 | $ 92,242 | ||
84,903 | Loan ID 201855 | DSI | 4.3900 | 07/01/36 | 85,932 | ||
45,652 | Loan ID 201856 | Fixed | 7.9000 | 06/01/37 | 40,461 | ||
50,840 | Loan ID 201857 | Fixed | 3.2500 | 04/01/35 | 44,038 | ||
367,509 | Loan ID 201858 | Fixed | 4.6300 | 02/01/59 | 374,860 | ||
592,500 | Loan ID 201859 | Interest Only | 7.5000 | 12/31/25 | 604,350 | ||
122,690 | Loan ID 201861 | Fixed | 5.0000 | 05/01/40 | 122,690 | ||
22,403 | Loan ID 201862 | DSI | 10.0000 | 05/01/27 | 22,851 | ||
21,221 | Loan ID 201864 | DSI | 7.0600 | 01/01/35 | 20,160 | ||
27,945 | Loan ID 201865 | Fixed | 6.5000 | 01/01/32 | 28,504 | ||
52,204 | Loan ID 201866 | Fixed | 4.8800 | 01/01/44 | 52,170 | ||
33,429 | Loan ID 201867 | DSI | 4.2300 | 12/01/32 | 32,460 | ||
54,964 | Loan ID 201868 | DSI | 7.5400 | 09/01/34 | 56,064 | ||
17,717 | Loan ID 201869 | DSI | 8.3900 | 07/01/24 | 18,071 | ||
13,083 | Loan ID 201870 | DSI | 9.4800 | 02/01/23 | 13,345 | ||
8,535 | Loan ID 201871 | Fixed | 9.9700 | 05/01/26 | 8,705 | ||
34,371 | Loan ID 201872 | DSI | 8.1000 | 09/01/38 | 35,059 | ||
16,584 | Loan ID 201873 | Fixed | 6.6500 | 02/01/27 | 16,915 | ||
24,529 | Loan ID 201874 | DSI | 10.5400 | 05/01/27 | 25,019 | ||
9,209 | Loan ID 201875 | Fixed | 10.9800 | 06/01/30 | 9,394 | ||
14,704 | Loan ID 201876 | Fixed | 8.3100 | 02/01/27 | 14,998 | ||
7,009 | Loan ID 201877 | DSI | 9.8300 | 11/01/28 | 7,149 | ||
25,886 | Loan ID 201878 | DSI | 9.0500 | 08/01/24 | 26,404 | ||
11,882 | Loan ID 201879 | Fixed | 9.3100 | 10/01/26 | 12,120 | ||
20,797 | Loan ID 201881 | DSI | 4.5900 | 05/01/26 | 20,477 | ||
10,625 | Loan ID 201882 | Fixed | 8.3100 | 04/01/27 | 10,838 | ||
28,867 | Loan ID 201883 | Fixed | 4.6300 | 06/01/33 | 28,709 | ||
7,997 | Loan ID 201884 | DSI | 11.3900 | 02/01/22 | 8,157 | ||
21,237 | Loan ID 201885 | Fixed | 5.0000 | 05/01/34 | 21,407 | ||
4,971 | Loan ID 201886 | Fixed | 10.6100 | 12/01/22 | 5,070 | ||
41,804 | Loan ID 201887 | Fixed | 6.2500 | 01/01/42 | 39,714 | ||
20,361 | Loan ID 201889 | DSI | 9.5000 | 02/01/39 | 20,769 | ||
8,606 | Loan ID 201890 | Fixed | 4.5000 | 11/01/25 | 8,540 | ||
16,718 | Loan ID 201891 | Fixed | 10.2900 | 07/01/26 | 17,052 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
14,216 | Loan ID 201892 | DSI | 9.9600 | 06/01/23 | $ 14,500 | ||
30,416 | Loan ID 201893 | DSI | 5.0400 | 06/30/26 | 30,632 | ||
12,674 | Loan ID 201895 | Fixed | 9.6900 | 05/01/26 | 12,927 | ||
7,425 | Loan ID 201896 | Fixed | 9.6800 | 09/01/25 | 7,574 | ||
17,825 | Loan ID 201897 | Fixed | 8.2800 | 03/01/27 | 18,182 | ||
13,177 | Loan ID 201898 | Fixed | 10.3100 | 10/01/26 | 13,440 | ||
16,607 | Loan ID 201899 | DSI | 10.5000 | 10/01/24 | 16,939 | ||
15,121 | Loan ID 201900(a) | DSI | 12.1300 | 01/29/19 | 14,365 | ||
20,906 | Loan ID 201901 | DSI | 8.7400 | 09/01/28 | 19,861 | ||
15,882 | Loan ID 201902 | Fixed | 10.5500 | 10/01/26 | 16,200 | ||
15,883 | Loan ID 201904 | DSI | 10.1900 | 08/01/29 | 16,201 | ||
8,725 | Loan ID 201905 | DSI | 10.8900 | 01/01/24 | 8,900 | ||
68,838 | Loan ID 201907 | Fixed | 9.8500 | 09/01/30 | 65,396 | ||
24,285 | Loan ID 201908 | DSI | 11.6200 | 09/01/27 | 24,771 | ||
52,858 | Loan ID 201909 | DSI | 9.2400 | 07/01/33 | 53,915 | ||
11,043 | Loan ID 201910 | DSI | 6.0000 | 07/01/26 | 11,264 | ||
16,296 | Loan ID 201911 | DSI | 8.0000 | 07/01/31 | 16,622 | ||
38,545 | Loan ID 201912 | Fixed | 7.7500 | 08/01/34 | 36,617 | ||
7,254 | Loan ID 201913 | Fixed | 9.3100 | 11/01/26 | 7,399 | ||
25,475 | Loan ID 201914 | DSI | 9.3300 | 08/01/26 | 24,201 | ||
93,618 | Loan ID 201916 | Fixed | 3.7500 | 05/01/38 | 91,463 | ||
221,300 | Loan ID 201924 | Interest Only | 7.5000 | 02/28/26 | 231,581 | ||
345,000 | Loan ID 201925 | Interest Only | 7.0000 | 02/29/24 | 303,911 | ||
187,946 | Loan ID 201926 | Fixed | 11.9900 | 03/01/22 | 187,946 | ||
302,384 | Loan ID 201927 | Fixed | 8.9900 | 04/01/51 | 308,432 | ||
1,610,000 | Loan ID 201928 | ARM | 7.8800 | 04/01/50 | 1,642,199 | ||
393,750 | Loan ID 201929 | Fixed | 8.9900 | 04/01/23 | 401,625 | ||
297,457 | Loan ID 201930 | Fixed | 8.9900 | 04/01/51 | 303,406 | ||
283,500 | Loan ID 201933 | Interest Only | 7.5000 | 04/30/26 | 297,675 | ||
305,000 | Loan ID 201934 | Fixed | 9.0000 | 05/01/22 | 305,000 | ||
239,315 | Loan ID 201935 | Fixed | 10.5000 | 05/01/26 | 244,101 | ||
164,353 | Loan ID 201936 | Fixed | 8.9900 | 05/01/51 | 166,491 | ||
360,000 | Loan ID 201937 | Interest Only | 7.0000 | 04/30/24 | 367,200 | ||
469,994 | Loan ID 201938 | Fixed | 7.4900 | 05/01/51 | 469,394 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
2,792,726 | Loan ID 201939 | Fixed | 6.7500 | 05/01/51 | $ 1,729,566 | ||
69,038 | Loan ID 201940 | Fixed | 5.2500 | 06/20/50 | 68,811 | ||
242,085 | Loan ID 201941 | Fixed | 5.1300 | 12/01/48 | 142,146 | ||
123,443 | Loan ID 201942 | Fixed | 5.0000 | 06/01/50 | 122,769 | ||
100,604 | Loan ID 201943 | Interest Only | 7.0000 | 05/31/24 | 102,616 | ||
195,999 | Loan ID 201944 | Interest Only | 8.0000 | 05/31/24 | 205,799 | ||
170,000 | Loan ID 201945 | Fixed | 8.9900 | 06/01/22 | 170,000 | ||
219,000 | Loan ID 201946 | Fixed | 9.9900 | 05/01/22 | 219,000 | ||
349,723 | Loan ID 201947 | Fixed | 7.2500 | 12/01/37 | 348,933 | ||
138,801 | Loan ID 201948 | Fixed | 4.2500 | 06/01/34 | 136,120 | ||
86,101 | Loan ID 201949 | Fixed | 5.5000 | 03/01/24 | 87,823 | ||
174,838 | Loan ID 201950 | Fixed | 6.5000 | 10/01/26 | 171,195 | ||
10,061 | Loan ID 201951 | Fixed | 7.2500 | 03/01/24 | 10,263 | ||
10,233 | Loan ID 201953 | Fixed | 6.5000 | 03/01/24 | 10,438 | ||
27,588 | Loan ID 201954 | Fixed | 6.7500 | 03/01/24 | 28,139 | ||
207,737 | Loan ID 201955 | Fixed | 7.7500 | 03/01/51 | 208,208 | ||
317,895 | Loan ID 201956 | Fixed | 8.2500 | 03/01/51 | 320,662 | ||
404,304 | Loan ID 201957 | Fixed | 8.9900 | 06/01/26 | 324,940 | ||
150,000 | Loan ID 201958 | Fixed | 8.9900 | 05/01/23 | 153,000 | ||
498,327 | Loan ID 201959 | Fixed | 8.9900 | 06/01/31 | 508,293 | ||
222,000 | Loan ID 201960 | Interest Only | 7.5000 | 05/31/26 | 233,100 | ||
157,500 | Loan ID 201961 | Interest Only | 7.0000 | 05/31/23 | 165,375 | ||
230,123 | Loan ID 201962 | Fixed | 9.9900 | 06/01/26 | 234,726 | ||
85,590 | Loan ID 201963 | Fixed | 10.4900 | 06/01/26 | 87,302 | ||
212,502 | Loan ID 201965 | Fixed | 8.0000 | 05/01/38 | 201,877 | ||
382,162 | Loan ID 201966 | Fixed | 7.0000 | 01/01/27 | 363,054 | ||
91,223 | Loan ID 201967 | Fixed | 7.0000 | 03/01/43 | 77,317 | ||
252,842 | Loan ID 201968 | Fixed | 6.0000 | 03/01/43 | 257,898 | ||
300,820 | Loan ID 201969 | Fixed | 8.2500 | 04/01/51 | 300,785 | ||
174,000 | Loan ID 201971 | Fixed | 9.4900 | 07/01/23 | 177,480 | ||
153,508 | Loan ID 201972 | Fixed | 8.9900 | 07/01/26 | 156,578 | ||
204,546 | Loan ID 201973 | Fixed | 8.9900 | 07/01/31 | 208,637 | ||
168,000 | Loan ID 201974 | Interest Only | 8.0000 | 06/30/24 | 176,400 | ||
79,750 | Loan ID 201976 | Fixed | 9.4900 | 07/01/31 | 81,345 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
146,877 | Loan ID 201977 | Fixed | 8.7500 | 06/01/51 | $ 133,867 | ||
156,750 | Loan ID 201978 | Fixed | 9.9900 | 08/01/23 | 159,885 | ||
240,000 | Loan ID 201979 | Fixed | 10.9900 | 08/01/22 | 240,000 | ||
304,452 | Loan ID 201983 | Fixed | 9.9900 | 08/01/26 | 310,541 | ||
162,140 | Loan ID 201984 | Fixed | 8.9900 | 08/01/26 | 165,383 | ||
496,000 | Loan ID 201985 | Interest Only | 9.0000 | 07/31/24 | 505,920 | ||
221,994 | Loan ID 201986 | Interest Only | 7.5000 | 06/30/26 | 233,094 | ||
146,300 | Loan ID 201987 | Interest Only | 7.5000 | 06/30/26 | 153,615 | ||
142,500 | Loan ID 201988 | Interest Only | 7.0000 | 07/31/24 | 149,625 | ||
176,000 | Loan ID 201989 | Fixed | 9.5000 | 09/01/22 | 176,000 | ||
202,052 | Loan ID 201990 | Fixed | 8.9900 | 08/01/51 | 197,449 | ||
249,446 | Loan ID 201991 | Fixed | 8.9900 | 08/01/31 | 254,435 | ||
295,718 | Loan ID 201992 | Fixed | 9.9900 | 08/01/26 | 301,632 | ||
160,983 | Loan ID 201993 | Fixed | 8.9900 | 08/01/31 | 164,203 | ||
198,483 | Loan ID 201994 | Fixed | 9.9900 | 09/01/24 | 202,453 | ||
161,250 | Loan ID 201995 | Fixed | 8.9900 | 09/01/22 | 161,250 | ||
311,250 | Loan ID 201996 | Fixed | 8.9900 | 09/01/23 | 317,475 | ||
1,034,500 | Loan ID 201999 | Interest Only | 7.5000 | 08/31/26 | 831,024 | ||
198,800 | Loan ID 202000 | Interest Only | 7.0000 | 08/31/24 | 188,860 | ||
360,000 | Loan ID 202001 | Interest Only | 7.5000 | 08/31/26 | 302,111 | ||
122,500 | Loan ID 202002 | Interest Only | 7.0000 | 08/31/24 | 128,625 | ||
153,000 | Loan ID 202003 | Interest Only | 7.0000 | 08/31/24 | 145,350 | ||
471,392 | Loan ID 202004 | Fixed | 8.2500 | 09/01/24 | 480,820 | ||
84,387 | Loan ID 202005 | Fixed | 9.9900 | 09/01/36 | 86,074 | ||
248,000 | Loan ID 202006 | Fixed | 8.9900 | 10/01/22 | 248,000 | ||
453,251 | Loan ID 202007 | Fixed | 8.9900 | 10/01/26 | 462,316 | ||
266,300 | Loan ID 202008 | Interest Only | 7.0000 | 09/30/24 | 279,615 | ||
266,300 | Loan ID 202009 | Interest Only | 7.0000 | 10/31/24 | 279,615 | ||
61,500 | Loan ID 202010 | Interest Only | 7.0000 | 10/31/24 | 64,575 | ||
385,464 | Loan ID 202011 | Interest Only | 7.0000 | 10/31/24 | 404,737 | ||
134,400 | Loan ID 202012 | Fixed | 9.4900 | 12/01/31 | 137,088 | ||
52,468 | Loan ID 202013 | Fixed | 8.4900 | 11/01/31 | 53,517 | ||
52,468 | Loan ID 202014 | Fixed | 8.4900 | 11/01/31 | 53,517 | ||
243,732 | Loan ID 202015 | Fixed | 8.9900 | 10/01/26 | 248,607 |
VERTICAL CAPITAL INCOME FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||
December 31, 2021 | |||||||
Principal Amount ($) | Loan Type | Coupon Rate (%) | Maturity | Fair Value | |||
LOANS — 96.9% (Continued) | |||||||
MORTGAGE LOANS (PRIVATE) — 96.9% (Continued) | |||||||
56,250 | Loan ID 202016 | Fixed | 8.9900 | 11/01/22 | $ 56,250 | ||
93,624 | Loan ID 202017 | Fixed | 8.9900 | 11/01/26 | 95,496 | ||
283,500 | Loan ID 202018 | Fixed | 11.4900 | 12/01/24 | 289,170 | ||
252,000 | Loan ID 202019 | Fixed | 9.9900 | 12/01/22 | 252,000 | ||
172,500 | Loan ID 202020 | Fixed | 9.9900 | 12/01/26 | 175,950 | ||
192,000 | Loan ID 202021 | Fixed | 10.0000 | 12/01/23 | 195,840 | ||
4,000,000 | Loan ID 202022 | Fixed | 11.0000 | 03/01/22 | 3,920,000 | ||
114,234 | Loan ID 202023 | Fixed | 0.0875 | 08/01/51 | 113,091 | ||
128,050 | Loan ID 202024 | Fixed | 8.9900 | 01/01/52 | 130,611 | ||
345,000 | Loan ID 202025 | Fixed | 8.5000 | 01/01/52 | 351,900 | ||
236,300 | Loan ID 202026 | Interest Only | 7.5000 | 11/30/26 | 241,026 | ||
319,500 | Loan ID 202027 | Interest Only | 7.0000 | 11/30/24 | 325,890 | ||
129,500 | Loan ID 202028 | Interest Only | 8.0000 | 11/30/24 | 135,975 | ||
TOTAL LOANS (Cost $105,518,738) | 113,885,381 | ||||||
OTHER INVESTMENTS(b) (Cost - $413,474) – 0.3% | 305,078 | ||||||
TOTAL INVESTMENTS – 97.2% (Cost $105,932,212) | $ 114,190,459 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES- 2.8% | 3,301,113 | ||||||
NET ASSETS - 100.0% | $ 117,491,572 | ||||||
ARM | Adjustable Rate Mortgage |
DSI | Daily Simple Interest |
(a) | Loan is in loss mitigation, which means the Fund is restructuring the loan with the delinquent borrower. |
(b) | Illiquid securities, non-income producing defaulted securities. |