FS Credit Income Fund (FCREX) NPORT-P FS Credit Income Fund (Jul 2024 report)

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Senior Secured Loans—First Lien—22.4%
ACProducts, Inc., S+425, 0.5% Floor, 5/17/28	(d)	Building Materials	$	4,409	$	3,974	$	3,530
AHP Health Partners, Inc., S+350, 0.5% Floor, 8/24/28	(d)	Healthcare-Services		769		771		773
AI Silk Holdco 2 Ltd., E+1025, 1.0% Floor, 5/19/29	(d)(e)	Software	€	1,841		1,945		1,995
Alvotech Holdings SA, S+1050, 0.8% Floor, 6/7/29	(d)(e)	Pharmaceuticals	$	1,262		1,237		1,243
Alvotech Holdings SA, S+650, 0.8% Floor, 6/7/29	(d)	Pharmaceuticals		9,460		9,102		9,413
American Greetings Corp., S+575, 10/30/29	(d)	Consumer Products		2,379		2,323		2,398
Amneal Pharmaceuticals LLC, S+550, 5/4/28	(d)	Pharmaceuticals		3,158		3,173		3,192
AP Core Holdings II LLC, S+550, 0.8% Floor, 9/1/27	(d)	Media Entertainment		7,381		7,275		5,960
Augusta Sportswear Group, Inc., S+650, 1.0% Floor, 11/21/29	(d)	Retail		2,815		2,763		2,743
Aurelia Netherlands Midco 2 BV, E+575, 5/29/31	(d)(e)	Finance	€	1,564		1,656		1,672
Avalara, Inc., S+675, 0.8% Floor, 10/19/28	(d)(e)	Software	$	4,653		4,564		4,657
Avalara, Inc., S+675, 0.8% Floor, 10/19/28	(d)(e)(f)	Software		465		457		466
Axiom Buyer LLC, S+650, 1.0% Floor, 1/14/30	(d)	Finance		1,648		1,603		1,607
Axiom Buyer LLC, S+650, 1.0% Floor, 1/14/30	(d)(f)	Finance		339		335		331
Azurite Intermediate Holdings, Inc., S+650, 0.8% Floor, 3/19/31	(d)(e)	Technology		1,364		1,336		1,353
Azurite Intermediate Holdings, Inc., S+650, 0.8% Floor, 3/19/31	(d)(e)(f)	Technology		657		654		652
Bausch & Lomb Corp., S+325, 0.5% Floor, 5/10/27	(d)	Healthcare-Services		2,907		2,804		2,860
Bausch Health Cos., Inc., S+525, 0.5% Floor, 2/1/27	(d)	Pharmaceuticals		3,364		2,857		3,146
Casper BidCo SAS, E+425, 3/21/31	(d)	Consumer, Cyclical	€	985		1,066		1,071
CD&R Firefly Bidco Ltd., SONIA+550, 6/21/28	(d)	Retail	£	1,405		1,741		1,810
Charlotte Buyer, Inc., S+475, 0.5% Floor, 2/11/28	(d)	Healthcare-Services	$	3,634		3,489		3,657
Cinemark USA, Inc., S+375, 0.5% Floor, 5/24/30	(d)	Leisure Time		1,081		1,067		1,090
Cloud Software Group, Inc., S+400, 0.5% Floor, 3/30/29	(d)	Software		2,073		2,007		2,075
ClubCorp Holdings, Inc., S+500, 9/18/26	(d)	Leisure Time		4,554		4,394		4,590
Coupa Holdings LLC, S+550, 0.8% Floor, 2/27/30	(d)(e)	Technology		1,339		1,310		1,341
Coupa Holdings LLC, S+550, 0.8% Floor, 2/27/30	(d)(e)(f)	Technology		120		118		120
Coupa Holdings LLC, S+550, 0.8% Floor, 2/27/29	(d)(e)(f)	Technology		92		90		91
Covetrus, Inc., S+500, 0.5% Floor, 10/13/29	(d)	Pharmaceuticals		1,015		967		987
Crewline Buyer, Inc., S+675, 1.0% Floor, 11/8/30	(d)(e)	Software		2,241		2,189		2,219
Crewline Buyer, Inc., S+675, 1.0% Floor, 11/8/30	(d)(e)(f)	Software		233		228		231
Crown Finance U.S., Inc., S+150, 1.0% Floor, 7/31/28	(d)	Consumer, Cyclical		6,954		7,030		7,065
Cuppa Bidco BV, E+650, 6/29/29	(d)	Finance	€	650		688		707
Cuppa Bidco BV, SONIA+563, 7/30/29	(d)	Finance	£	440		541		555
Delivery Hero SE, S+500, 0.5% Floor, 12/12/29	(d)	Services	$	3,337		3,325		3,342
Directv Financing LLC, S+525, 0.8% Floor, 8/2/29	(d)	Media Entertainment		3,563		3,542		3,563
Disco Parent, Inc., S+750, 1.0% Floor, 3/30/29	(d)(e)	Software		5,540		5,424		5,576
Disco Parent, Inc., S+750, 1.0% Floor, 3/30/29	(d)(e)(f)	Software		554		543		558
Discovery Purchaser Corp., S+438, 0.5% Floor, 10/4/29	(d)	Finance		4,005		3,820		4,005
East Valley Tourist Development Authority, S+750, 1.0% Floor, 11/23/26	(d)(e)	Leisure Time		5,412		5,358		5,318
Endo Luxembourg Finance Co. I SARL, S+450, 0.5% Floor, 4/23/31	(d)	Pharmaceuticals		5,558		5,526		5,578
Endure Digital, Inc., S+350, 2/10/26	(d)(e)	Internet		860		787		807
Endure Digital, Inc., S+350, 2/10/26	(d)(e)(f)	Internet		200		200		188
Endure Digital, Inc., S+350, 0.8% Floor, 2/10/28	(d)	Internet		3,159		2,910		2,840
Evanston Hospital Corp., S+1025, 4/29/25	(d)(e)	Healthcare-Services		120		120		120
Global Blue Acquisition BV, E+400, 12/5/30	(d)	Finance	€	1,495		1,588		1,631
Global Medical Response, Inc., S+600, 1.0% Floor, 10/31/28	(d)	Healthcare-Services	$	8,599		8,380		8,410
GoTo Group, Inc., S+475, 4/28/28	(d)	Technology		3,318		3,148		2,942
Greenway Health LLC, S+675, 0.8% Floor, 4/1/29	(d)(e)	Software		1,054		1,025		1,044
Hanger, Inc., S+625, 1.0% Floor, 10/3/28	(d)(e)	Healthcare-Services		3,027		2,971		3,057
HLF Financing SARL LLC, S+675, 1.0% Floor, 4/12/29	(d)	Food		71		65		68
Houghton Mifflin Harcourt Publishing Co., S+525, 0.5% Floor, 4/9/29	(d)	Media Entertainment		4,444		4,343		4,177

See notes to unaudited consolidated schedule of investments.

1

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost			Fair Value(c)
Houghton Mifflin Harcourt Publishing Co., S+800, 1.0% Floor, 4/7/28	(d)	Media Entertainment	$	396	$	383		$	406
Ivanti Software, Inc., S+425, 0.8% Floor, 12/1/27	(d)	Technology		1,675		1,573			1,406
Jack Ohio Finance LLC, S+475, 0.8% Floor, 10/4/28	(d)	Lodging		1,271		1,267			1,275
Knitwell Borrower LLC, S+800, 1.0% Floor, 7/28/27	(d)(e)	Retail		6,041		5,873			6,042
LBM Acquisition LLC, S+375, 0.8% Floor, 6/6/31	(d)	Building Materials		1,441		1,329			1,392
LHS Borrower LLC, S+475, 0.5% Floor, 2/16/29	(d)	Building Materials		2,592		2,329			2,428
Lightstone Holdco LLC, S+575, 1.0% Floor, 1/29/27	(d)	Electric		3,309		3,016			3,314
Magenta Buyer LLC, S+500, 0.8% Floor, 7/27/28	(d)	Technology		312		215			157
Mallinckrodt International Finance SA, S+950, 4.5% Floor, 11/14/28	(d)	Pharmaceuticals		6,803		7,378			7,400
MB2 Dental Solutions LLC, S+600, 0.8% Floor, 2/13/31	(d)(e)(f)	Services		471		468			470
MB2 Dental Solutions LLC, S+600, 0.8% Floor, 2/13/31	(d)(e)	Services		826		818			823
Olympus Water U.S. Holding Corp., S+375, 0.5% Floor, 6/20/31	(d)	Chemicals		1,307		1,309			1,313
Olympus Water U.S. Holding Corp., E+375, 6/20/31	(d)	Chemicals	€	300		323			325
Ontario Gaming GTA LP, S+425, 0.5% Floor, 8/1/30	(d)	Gaming	$	801		793			805
Pediatric Associates Holding Co. LLC, S+325, 0.5% Floor, 12/29/28	(d)	Healthcare-Services		970		942			945
PMHC II, Inc., S+425, 0.5% Floor, 4/23/29	(d)	Chemicals		2,398		2,188			2,349
Quorum Health Corp., S+825, 1.0% Floor, 4/29/25	(d)	Healthcare-Services		1,086		1,079			828
Riverbed Technology, Inc., S+250, 1.0% Floor, 7/1/28	(d)	Technology		215		458			135
SCUR-Alpha 1503 GmbH, S+550, 0.5% Floor, 3/29/30	(d)	Services		3,538		3,260			3,331
Signal Parent, Inc., S+350, 0.8% Floor, 4/3/28	(d)	Services		1,180		1,049			1,072
Speed Midco 3 SARL, E+495, 6/5/31	(d)(e)	Consumer, Cyclical	€	3,920		4,134			4,242
Springs Windows Fashions LLC, S+400, 0.8% Floor, 10/6/28	(d)	Housewares	$	1,130		1,041			877
SVF II Finco Cayman LP, 6.0%, 12/23/25	(e)	Diversified Financial Services		2,776		2,777			2,742
Talen Energy Supply LLC, S+350, 0.5% Floor, 5/17/30	(d)	Electric		1,480		1,459			1,499
Torrid LLC, S+550, 6/14/28	(d)	Retail		1,543		1,535			1,440
U.S. Radiology Specialists, Inc., S+475, 0.5% Floor, 12/15/27	(d)	Healthcare-Services		1,251		1,251			1,255
W.R. Grace & Co., S+325, 0.5% Floor, 9/22/28	(d)	Chemicals		1,435		1,422			1,444
Worldwide Express Operations LLC, S+400, 0.8% Floor, 7/26/28	(d)	Transportation		891		860			894
WSH Services Holding Ltd., SONIA+550, 5/16/31	(d)	Retail	£	995		1,239			1,289
Total Senior Secured Loans—First Lien						180,597			180,722
Unfunded Loan Commitments						(3,093	)		(3,093	)
Net Senior Secured Loans—First Lien						177,504			177,629
Senior Secured Loans—Second Lien—2.9%
Charlotte Buyer, Inc., S+825, 0.5% Floor, 8/11/28	(d)	Healthcare-Services	$	6,550		6,214			6,550
GoTo Group, Inc., S+475, 4/28/28	(d)	Technology		615		422			256
Hexion Holdings Corp., S+744, 0.5% Floor, 3/15/30	(d)	Chemicals		14,775		12,616			13,518
Nourish Buyer I, Inc., S+650, 8/4/28	(d)	Food		2,586		2,560			2,560
Quorum Health Corp., S+1025, 1.0% Floor, 4/29/25	(d)(e)	Healthcare-Services		138		138			138
Total Senior Secured Loans—Second Lien						21,950			23,022
Senior Secured Bonds—19.9%
1011778 BC ULC/New Red Finance, Inc., 4.0%, 10/15/30	(g)(h)	Retail		2,535		2,234			2,263
1375209 BC Ltd., 9.0%, 1/30/28	(g)(h)	Pharmaceuticals		1,580		1,507			1,504
Advantage Sales & Marketing, Inc., 6.5%, 11/15/28	(g)(h)	Advertising		1,157		982			1,062
Alexandrite Monnet U.K. Holdco PLC, 10.5%, 5/15/29	(g)	Real Estate Investment Trusts	€	2,427		2,608			2,737
Allwyn Entertainment Financing U.K. PLC, 7.3%, 4/30/30	(h)(i)	Entertainment		1,245		1,421			1,429
Altice France SA, 5.1%, 1/15/29	(g)(h)	Telecommunications	$	304		253			211

See notes to unaudited consolidated schedule of investments.

2

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Altice France SA, 5.1%, 7/15/29	(g)(h)	Telecommunications	$	313	$	256	$	220
Altice France SA, 5.5%, 10/15/29	(g)(h)	Telecommunications		538		401		379
AMC Networks, Inc., 10.3%, 1/15/29	(g)(h)	Media Entertainment		3,511		3,515		3,472
American Airlines, Inc. / Advantage Loyalty IP Ltd., 5.8%, 4/20/29	(g)(j)	Airlines		2,760		2,678		2,699
Bausch & Lomb Escrow Corp., 8.4%, 10/1/28	(g)	Healthcare-Products		748		745		769
Bausch Health Cos., Inc., 5.5%, 11/1/25	(g)	Pharmaceuticals		1,110		1,042		1,041
Bausch Health Cos., Inc., 5.8%, 8/15/27	(g)	Pharmaceuticals		424		341		346
Bausch Health Cos., Inc., 6.1%, 2/1/27	(g)	Pharmaceuticals		2,232		1,792		1,900
Bausch Health Cos., Inc., 11.0%, 9/30/28	(g)	Pharmaceuticals		351		290		329
Bausch Health Cos., Inc., 14.0%, 10/15/30	(g)(h)	Pharmaceuticals		149		174		129
Bishopsgate Asset Finance Ltd., 4.8%, 8/14/44	(h)	Diversified Financial Services	£	190		167		173
Borr IHC Ltd. / Borr Finance LLC, 10.0%, 11/15/28	(g)(h)	Oil & Gas	$	1,946		2,010		2,041
Borr IHC Ltd. / Borr Finance LLC, 10.4%, 11/15/30	(g)(h)	Oil & Gas		2,646		2,741		2,793
Calderys Financing LLC, 11.3%, 6/1/28	(g)(h)	Miscellaneous Manufacturing		1,493		1,493		1,599
Carnival Corp., 4.0%, 8/1/28	(g)(h)	Leisure Time		2,319		2,165		2,196
Carvana Co., PIK, 13.0%, 6/1/30	(g)(h)(j)	Retail		2,951		3,029		3,258
Carvana Co., PIK, 14.0%, 6/1/31	(g)(h)	Retail		1,490		1,695		1,736
Catalyst Healthcare Manchester Financing PLC, Series AMBC, 2.4%, 9/30/40	(h)	Healthcare-Services	£	234		585		545
Cerdia Finanz GmbH, 10.5%, 2/15/27	(g)	Chemicals	$	506		516		521
Charter Communications Operating LLC / Charter Communications Operating Capital, 4.4%, 12/1/61	(h)	Media Entertainment		381		245		255
Charter Communications Operating LLC / Charter Communications Operating Capital, 5.5%, 4/1/63	(h)	Media Entertainment		812		619		649
Charter Communications Operating LLC / Charter Communications Operating Capital, 6.5%, 10/23/45	(h)	Media Entertainment		841		746		796
Charter Communications Operating LLC/Charter Communications Operating Capital, 5.4%, 4/1/38	(h)	Media Entertainment		965		854		872
CHS/Community Health Systems, Inc., 6.0%, 1/15/29	(g)(h)	Healthcare-Services		2,088		1,847		1,940
Cloud Software Group, Inc., 6.5%, 3/31/29	(g)(h)(j)	Software		1,750		1,610		1,707
Cloud Software Group, Inc., 9.0%, 9/30/29	(g)(h)(j)	Software		9,118		8,169		9,073
Digicel International Finance Ltd. / Digicel international Holdings Ltd., PIK, 12.0%, 5/25/27		Telecommunications		4,433		4,300		4,405
DirecTV Financing LLC, 8.9%, 2/1/30	(g)(j)	Media Entertainment		5,683		5,595		5,695
DISH DBS Corp., 5.3%, 12/1/26	(g)(h)	Media Entertainment		7,394		6,420		6,168
Diversified Healthcare Trust, 0.0%, 1/15/26	(g)(h)(k)	Real Estate Investment Trusts		6,070		5,297		5,374
Eagle Intermediate Global Holding BV / Eagle U.S. Finance LLC, 7.5%, 5/1/25	(g)	Textiles		1,339		1,319		773
EMRLD Borrower LP/Emerald Co-Issuer, Inc., 6.4%, 12/15/30	(i)	Building Materials	€	1,120		1,266		1,269
Evergreen Acqco 1 LP / TVI, Inc., 9.8%, 4/26/28	(g)(h)	Retail	$	3,001		3,068		3,168
Frontier Communications Holdings LLC, 8.6%, 3/15/31	(g)(h)	Telecommunications		812		784		851
GoTo Group, Inc., 5.5%, 5/1/28	(g)(h)	Telecommunications		3,666		3,168		2,887
GoTo Group, Inc., 5.5%, 5/1/28	(g)	Telecommunications		117		70		44
Grifols SA, 7.5%, 5/1/30	(i)	Pharmaceuticals	€	2,275		2,400		2,590
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Escrow, Inc., 6.6%, 1/15/32	(g)(h)	Lodging	$	1,229		1,234		1,242
iHeartCommunications, Inc., 4.8%, 1/15/28	(g)(h)	Media Entertainment		1,520		881		940
Jerrold Finco PLC, 5.3%, 1/15/27	(h)(i)	Diversified Financial Services	£	2,160		2,516		2,709
Jerrold Finco PLC, 7.9%, 4/15/30	(h)(i)	Diversified Financial Services		505		644		653
Latam Airlines Group SA, 13.4%, 10/15/27	(g)(h)	Airlines	$	562		592		623
Latam Airlines Group SA, 13.4%, 10/15/29	(g)(h)	Airlines		2,404		2,630		2,781
LCPR Senior Secured Financing DAC, 5.1%, 7/15/29	(g)(h)(j)	Media Entertainment		3,641		3,017		3,034
LCPR Senior Secured Financing DAC, 6.8%, 10/15/27	(g)(h)	Media Entertainment		1,902		1,763		1,775

See notes to unaudited consolidated schedule of investments.

3

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Legacy LifePoint Health LLC, 4.4%, 2/15/27	(g)	Healthcare-Services	$	512	$	494	$	495
Level 3 Financing, Inc., 10.5%, 4/15/29	(g)	Telecommunications		491		507		506
Level 3 Financing, Inc., 10.8%, 12/15/30	(g)(h)	Telecommunications		1,476		1,515		1,530
Level 3 Financing, Inc., 11.0%, 11/15/29	(g)(h)	Telecommunications		1,627		1,722		1,724
LifePoint Health, Inc., 11.0%, 10/15/30	(g)(h)	Healthcare-Services		450		438		506
Lottomatica SpA, 5.4%, 6/1/30	(i)	Media Entertainment	€	445		482		490
Macy’s Retail Holdings LLC, 6.7%, 7/15/34	(g)	Retail	$	1,155		968		1,018
Mallinckrodt International Finance SA / Mallinckrodt CB LLC, 14.8%, 11/14/28	(g)(h)	Pharmaceuticals		1,686		1,821		1,837
Mitchells & Butlers Finance PLC, Series C1, 6.5%, 9/15/30	(h)(i)	Retail	£	719		1,099		869
Mitchells & Butlers Finance PLC, Series C2, 7.2%, 9/15/34 SONIA+199	(h)(i)(l)	Retail		972		1,163		1,115
Mitchells & Butlers Finance PLC, Series D1, 7.6%, 6/15/36 SONIA+236	(h)(i)(l)	Retail		481		552		510
Nabors Industries, Inc., 9.1%, 1/31/30	(g)(h)	Oil & Gas	$	5,382		5,405		5,754
Newfold Digital Holdings Group, Inc., 11.8%, 10/15/28	(g)(h)(j)	Internet		5,500		5,587		5,562
Olympus Water U.S. Holding Corp., 7.1%, 10/1/27	(g)(h)	Chemicals		1,811		1,826		1,825
Olympus Water U.S. Holding Corp., 9.8%, 11/15/28	(g)(j)	Chemicals		3,771		3,806		4,012
Open Text Corp., 6.9%, 12/1/27	(g)(h)	Software		585		602		607
Peterborough Progress Health PLC, 5.6%, 10/2/42	(h)(i)	Healthcare-Services	£	553		949		656
QVC, Inc., 4.4%, 9/1/28	(h)	Retail	$	707		538		542
QVC, Inc., 5.5%, 8/15/34	(h)	Retail		622		398		393
Rocket Software, Inc., 9.0%, 11/28/28	(g)	Software		1,157		1,157		1,192
Seadrill Finance Ltd., 8.4%, 8/1/30	(g)(h)(j)	Oil & Gas		3,651		3,687		3,851
Shelf Drilling Holdings Ltd., 9.6%, 4/15/29	(g)(h)(j)	Oil & Gas		4,847		4,676		4,664
Shelf Drilling North Sea Holdings Ltd., 9.9%, 11/22/28	(h)	Oil & Gas		2,400		2,362		2,316
Solocal Group, 10.7%, 3/15/25 E+700	(l)	Internet	€	115		131		29
Talen Energy Supply LLC, 8.6%, 6/1/30	(g)(h)(j)	Electric	$	1,529		1,536		1,649
Tenet Healthcare Corp., 5.1%, 11/1/27	(j)	Healthcare-Services		3,029		2,980		2,977
Tenet Healthcare Corp., 6.1%, 6/15/30	(h)	Healthcare-Services		1,305		1,306		1,312
Tenet Healthcare Corp., 6.3%, 2/1/27	(h)	Healthcare-Services		718		694		720
Tenet Healthcare Corp., 6.8%, 5/15/31	(h)	Healthcare-Services		1,168		1,168		1,201
TransDigm, Inc., 6.6%, 3/1/32	(g)(h)	Aerospace/Defense		1,926		1,943		1,972
UKG, Inc., 6.9%, 2/1/31	(g)(h)	Software		1,963		1,978		2,019
Valaris Ltd., 8.4%, 4/30/30	(g)(h)	Oil & Gas		2,312		2,343		2,422
Venture Global Calcasieu Pass LLC, 3.9%, 11/1/33	(g)(h)	Pipelines		1,376		1,155		1,194
Venture Global Calcasieu Pass LLC, 4.1%, 8/15/31	(g)(h)	Pipelines		2,043		1,788		1,859
WR Grace Holdings LLC, 7.4%, 3/1/31	(g)(h)	Chemicals		445		445		457
Total Senior Secured Bonds						154,915		157,410
Unsecured Bonds—37.9%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 6.5%, 7/15/25	(h)	Diversified Financial Services		1,818		1,834		1,834
AHP Health Partners, Inc., 5.8%, 7/15/29	(g)(h)	Healthcare-Services		3,471		3,117		3,318
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 5.9%, 2/15/28	(g)(h)	Food		564		535		560
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 7.5%, 3/15/26	(g)(h)	Food		1,449		1,468		1,471
Alliance Resource Operating Partners LP/Alliance Resource Finance Corp., 8.6%, 6/15/29	(g)(h)	Coal		2,898		2,898		3,049
Ally Financial, Inc., Series B, 4.7%, 5/15/26 (fixed, converts to FRN on 5/15/26)	(h)(l)(m)	Diversified Financial Services		2,937		2,464		2,702
Antero Midstream Partners LP / Antero Midstream Finance Corp., 6.6%, 2/1/32	(g)(h)	Pipelines		2,088		2,091		2,132
Archrock Partners LP / Archrock Partners Finance Corp., 6.3%, 4/1/28	(g)(h)(j)	Oil & Gas		1,732		1,683		1,729
Avient Corp., 7.1%, 8/1/30	(g)(h)	Chemicals		913		913		939
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.4%, 3/1/29	(g)(h)	Commercial Services		555		509		508

See notes to unaudited consolidated schedule of investments.

4

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.0%, 2/15/31	(g)(h)	Commercial Services	$	819	$	812	$	813
Bank of America Corp., 3.4%, 1/23/26 (fixed, converts to FRN on 1/23/25)	(j)(l)	Banks		8,202		8,074		8,120
Bank of America Corp., MTN, 3.4%, 4/2/26 (fixed, converts to FRN on 4/2/25)	(h)(l)	Banks		2,663		2,616		2,628
Bank of Ireland Group PLC, 6.0% 9/1/25 (fixed, converts to FRN on 9/1/25)	(h)(i)(l)(m)	Banks	€	1,780		1,939		1,932
Bank of Ireland Group PLC, 7.5%, 5/19/25 (fixed, converts to FRN on 5/19/25)	(h)(i)(l)(m)	Banks		2,340		2,401		2,580
Bausch Health Cos., Inc., 5.3%, 1/30/30	(g)(h)	Pharmaceuticals	$	1,264		598		640
BAWAG Group AG, 5.0%, 5/14/25 (fixed, converts to FRN on 5/14/25)	(h)(i)(l)(m)	Banks	€	400		338		424
BellRing Brands, Inc., 7.0%, 3/15/30	(g)(h)(j)	Pharmaceuticals	$	2,291		2,291		2,363
Berkeley Group PLC, 2.5%, 8/11/31	(h)(i)	Home Builders	£	821		742		844
Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.0%, 7/15/29	(g)	Pipelines	$	400		400		411
Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.3%, 7/15/32	(g)	Pipelines		801		801		834
Bombardier, Inc., 7.0%, 6/1/32	(g)(h)	Aerospace/Defense		1,081		1,092		1,107
Buckeye Partners LP, 4.1%, 3/1/25	(g)	Pipelines		339		334		335
Buckeye Partners LP, 5.6%, 10/15/44	(h)	Pipelines		961		705		797
Buckeye Partners LP, 5.9%, 11/15/43	(h)	Pipelines		1,610		1,303		1,430
Builders FirstSource, Inc., 6.4%, 6/15/32	(g)(h)	Building Materials		1,312		1,251		1,332
C&W Senior Financing DAC, 6.9%, 9/15/27	(g)(h)	Telecommunications		784		720		766
Calpine Corp., 5.0%, 2/1/31	(g)(h)	Electric		1,588		1,370		1,501
Capital One Financial Corp., Series M, 4.0%, 9/1/26 (fixed, converts to FRN on 9/1/26)	(h)(l)(m)	Diversified Financial Services		2,262		1,862		2,093
Capital One Financial Corp., 5.0%, 7/24/26 (fixed, converts to FRN on 7/24/25)	(h)(l)	Diversified Financial Services		937		930		933
Carnival Holdings Bermuda Ltd., 10.4%, 5/1/28	(g)(h)(j)	Leisure Time		5,598		5,998		6,055
CCO Holdings LLC / CCO Holdings Capital Corp., 4.3%, 2/1/31	(g)(h)	Media Entertainment		380		308		324
CCO Holdings LLC / CCO Holdings Capital Corp., 4.5%, 5/1/32	(h)	Media Entertainment		786		610		659
Chemours Co., 5.8%, 11/15/28	(g)(h)	Chemicals		3,949		3,587		3,699
Cinemark USA, Inc., 5.3%, 7/15/28	(g)(j)	Entertainment		1,513		1,396		1,464
Cinemark USA, Inc., 7.0%, 8/1/32	(g)	Media Entertainment		407		407		414
Consolidated Energy Finance SA, 5.6%, 10/15/28	(g)(h)	Chemicals		199		166		159
Consolidated Energy Finance SA, 12.0%, 2/15/31	(g)	Chemicals		1,337		1,337		1,322
Crocs, Inc., 4.1%, 8/15/31	(g)(h)	Apparel		639		523		562
Crocs, Inc., 4.3%, 3/15/29	(g)(h)	Apparel		334		292		308
CSC Holdings LLC, 3.4%, 2/15/31	(g)(h)	Media Entertainment		987		669		657
CSC Holdings LLC, 4.1%, 12/1/30	(g)(h)	Media Entertainment		2,007		1,463		1,392
CSC Holdings LLC, 4.5%, 11/15/31	(g)(h)	Media Entertainment		4,301		3,155		2,970
CSC Holdings LLC, 5.4%, 2/1/28	(g)(h)	Media Entertainment		401		333		319
CSC Holdings LLC, 6.5%, 2/1/29	(g)(h)	Media Entertainment		7,208		6,238		5,558
CTEC II GmbH, 5.3%, 2/15/30	(h)(i)	Miscellaneous Manufacturing	€	1,024		997		1,039
DaVita, Inc., 4.6%, 6/1/30	(g)(h)(j)	Healthcare-Services	$	2,573		2,146		2,358
Dealer Tire LLC / DT Issuer LLC, 8.0%, 2/1/28	(g)(h)	Distribution/Wholesale		1,403		1,326		1,403
Deutsche Bank AG, 10.0%, 12/1/27 (fixed, converts to FRN on 12/1/27)	(h)(i)(l)(m)	Banks	€	1,200		1,336		1,420
DISH DBS Corp., 5.1%, 6/1/29		Media Entertainment	$	819		473		344
DISH DBS Corp., 7.4%, 7/1/28		Media Entertainment		547		348		258
DT Midstream, Inc., 4.1%, 6/15/29	(g)(h)	Pipelines		625		592		585
DT Midstream, Inc., 4.4%, 6/15/31	(g)(h)	Pipelines		1,349		1,315		1,245
Elastic NV, 4.1%, 7/15/29	(g)(h)	Software		1,083		976		1,000
Encino Acquisition Partners Holdings LLC, 8.5%, 5/1/28	(g)(h)	Oil & Gas		964		944		990
Encino Acquisition Partners Holdings LLC, 8.8%, 5/1/31	(g)(h)	Oil & Gas		3,257		3,264		3,421

See notes to unaudited consolidated schedule of investments.

5

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Energy Transfer LP, Series G, 7.1%, 5/15/30 (fixed, converts to FRN on 5/15/30)	(h)(l)(m)	Pipelines	$	4,300	$	3,645	$	4,297
EnLink Midstream Partners LP, 5.1%, 4/1/45	(h)	Pipelines		1,642		1,208		1,367
EnLink Midstream Partners LP, 5.5%, 6/1/47	(h)	Pipelines		1,021		806		900
EnLink Midstream Partners LP, 5.6%, 4/1/44	(h)	Pipelines		1,055		878		948
EnLink Midstream Partners LP, Series C, S+430, 9/3/24	(h)(l)(m)	Pipelines		3,659		3,157		3,646
EP Infrastructure AS, 1.8%, 3/2/31	(h)(i)	Gas	€	4,048		3,425		3,618
EQM Midstream Partners LP, 6.0%, 7/1/25	(g)(h)(j)	Pipelines	$	2,449		2,441		2,450
First Horizon Bank, 5.8%, 5/1/30		Banks		1,211		1,170		1,190
First Horizon Corp., 4.0%, 5/26/25	(h)	Banks		3,720		3,654		3,661
Ford Motor Credit Co. LLC, 2.3%, 2/10/25	(h)	Auto Manufacturers		448		440		440
Ford Motor Credit Co. LLC, 3.6%, 6/17/31	(h)	Auto Manufacturers		1,491		1,270		1,307
Ford Motor Credit Co. LLC, 4.1%, 8/4/25	(h)	Auto Manufacturers		1,895		1,862		1,869
Ford Motor Credit Co. LLC, 4.3%, 1/9/27	(h)	Auto Manufacturers		222		228		216
Ford Motor Credit Co. LLC, 4.7%, 6/9/25	(h)	Auto Manufacturers		438		434		434
Ford Motor Credit Co. LLC, 5.1%, 6/16/25	(h)	Auto Manufacturers		902		896		898
Ford Motor Credit Co. LLC, 7.4%, 11/4/27	(h)	Auto Manufacturers		471		471		496
Ford Motor Credit Co. LLC, 7.4%, 3/6/30		Auto Manufacturers		960		970		1,031
Frontier Florida LLC, Series E, 6.9%, 2/1/28	(h)	Telecommunications		1,477		1,423		1,502
Frontier North, Inc., Series G, 6.7%, 2/15/28	(h)	Telecommunications		5,029		4,886		4,994
Garrett Motion Holdings, Inc./Garrett LX I SARL, 7.8%, 5/31/32	(g)(h)	Auto Parts & Equipment		1,370		1,374		1,394
HBOS PLC, 6.0%, 11/1/33	(g)	Banks		505		506		510
HCA, Inc., 5.4%, 2/1/25	(h)(j)	Healthcare-Services		4,607		4,600		4,599
Heimstaden Bostad Treasury BV, EMTN, 0.8%, 9/6/29	(h)(i)	Real Estate	€	1,695		1,365		1,443
Heimstaden Bostad Treasury BV, EMTN, 1.6%, 10/13/31	(h)(i)	Real Estate Investment Trusts		760		620		619
Helix Energy Solutions Group, Inc., 9.8%, 3/1/29	(g)(h)	Oil & Gas	$	2,846		2,871		3,043
Hess Midstream Operations LP, 4.3%, 2/15/30	(g)(j)	Pipelines		1,020		916		947
Hess Midstream Operations LP, 5.1%, 6/15/28	(g)(h)	Pipelines		202		189		197
Hilton Domestic Operating Co., Inc., 5.4%, 5/1/25	(g)(h)	Lodging		1,728		1,727		1,727
Hilton Domestic Operating Co., Inc., 6.1%, 4/1/32	(g)(h)	Lodging		1,563		1,572		1,580
Howard Midstream Energy Partners LLC, 7.4%, 7/15/32	(g)(h)	Pipelines		1,464		1,464		1,509
Howard Midstream Energy Partners LLC, 8.9%, 7/15/28	(g)(h)	Pipelines		568		573		605
Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.0%, 7/1/28	(g)(h)	Chemicals		2,402		2,397		2,412
Intesa Sanpaolo SpA, 4.2%, 6/1/32 (fixed, converts to FRN on 6/1/31)	(g)(h)(l)	Banks		813		662		704
Intesa Sanpaolo SpA, 5.7%, 1/15/26	(g)(h)	Banks		2,015		2,002		2,014
JPMorgan Chase & Co., 2.0%, 3/13/26 (fixed, converts to FRN on 3/13/25)	(h)(l)	Banks		1,609		1,562		1,576
LBM Acquisition LLC, 6.3%, 1/15/29	(g)(h)	Retail		2,160		1,902		1,911
Life Time, Inc., 8.0%, 4/15/26	(g)(h)(j)	Leisure Time		2,184		2,180		2,215
LifePoint Health, Inc., 5.4%, 1/15/29	(g)	Healthcare-Services		163		147		148
Lloyds Banking Group PLC, 7.5%, 9/27/25 (fixed, converts to FRN on 9/27/25)	(h)(l)(m)	Banks		1,505		1,476		1,514
Lloyds Banking Group PLC, 8.5%, 9/27/27 (fixed, converts to FRN on 9/27/27)	(h)(l)(m)	Banks	£	3,279		3,774		4,366
Lloyds Banking Group PLC, 8.5% 3/27/28 (fixed, converts to FRN on 3/27/28)	(h)(l)(m)	Banks		1,090		1,420		1,451
Matador Resources Co., 6.5%, 4/15/32	(g)(h)	Oil & Gas	$	1,289		1,288		1,296
Mativ Holdings, Inc., 6.9%, 10/1/26	(g)(h)	Chemicals		152		149		152
MGM Resorts International, 4.6%, 9/1/26	(h)	Lodging		1,953		1,917		1,916
MGM Resorts International, 5.8%, 6/15/25	(h)	Lodging		618		616		618
MGM Resorts International, 6.5%, 4/15/32	(h)	Lodging		1,195		1,182		1,200
Mineral Resources Ltd., 8.5%, 5/1/30	(g)(h)	Iron/Steel		585		588		611
Mineral Resources Ltd., 9.3%, 10/1/28	(g)(h)	Iron/Steel		1,556		1,556		1,657

See notes to unaudited consolidated schedule of investments.

6

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
MIWD Holdco II LLC / MIWD Finance Corp., 5.5%, 2/1/30	(g)	Building Materials	$	3,511	$	2,989	$	3,288
Moss Creek Resources Holdings, Inc., 10.5%, 5/15/27	(g)(h)	Oil & Gas		210		210		215
MPT Operating Partnership LP / MPT Finance Corp., 1.0%, 10/15/26	(h)	Real Estate Investment Trusts	€	4,045		3,570		3,452
MPT Operating Partnership LP / MPT Finance Corp., 3.5%, 3/15/31	(h)	Real Estate Investment Trusts	$	1,932		1,365		1,271
MPT Operating Partnership LP / MPT Finance Corp., 3.7%, 6/5/28	(h)	Real Estate Investment Trusts	£	1,122		1,059		1,035
MPT Operating Partnership LP / MPT Finance Corp., 4.6%, 8/1/29	(h)	Real Estate Investment Trusts	$	3,639		2,760		2,645
MPT Operating Partnership LP / MPT Finance Corp., 5.0%, 10/15/27	(h)	Real Estate Investment Trusts		15		12		12
MPT Operating Partnership LP/MPT Finance Corp., 2.5%, 3/24/26	(h)	Real Estate Investment Trusts	£	3,046		3,374		3,346
Nationstar Mortgage Holdings, Inc., 7.1%, 2/1/32	(g)(h)	Diversified Financial Services	$	912		905		932
NatWest Group PLC, 8.0%, 8/10/25 (fixed, converts to FRN on 8/10/25)	(h)(l)(m)	Banks		6,632		6,547		6,710
NCL Corp. Ltd., 7.8%, 2/15/29	(g)(h)	Leisure Time		1,366		1,396		1,439
Necessity Retail REIT, Inc. / American Finance Operating Partner LP, 4.5%, 9/30/28	(g)(h)	Real Estate Investment Trusts		1,502		1,263		1,369
Newfold Digital Holdings Group, Inc., 6.0%, 2/15/29	(g)(h)	Internet		1,564		1,219		1,088
Nokia OYJ, 6.6%, 5/15/39	(h)	Telecommunications		1,686		1,646		1,706
NRG Energy, Inc., 3.6%, 2/15/31	(g)(h)	Electric		2,622		2,159		2,296
NRG Energy, Inc., 3.9%, 2/15/32	(g)	Electric		1,977		1,573		1,728
NRG Energy, Inc., 5.3%, 6/15/29	(g)(h)	Electric		1,183		1,075		1,151
NRG Energy, Inc., 10.3%, 3/15/28 (fixed, converts to FRN on 3/15/28)	(g)(h)(l)(m)	Electric		6,552		6,368		7,265
Occidental Petroleum Corp., 6.5%, 9/15/36	(h)	Oil & Gas		1,522		1,579		1,627
Occidental Petroleum Corp., 6.6%, 3/15/46	(h)	Oil & Gas		138		142		147
Occidental Petroleum Corp., 8.0%, 6/15/39	(h)	Oil & Gas		632		751		752
Olympus Water U.S. Holding Corp., 5.4%, 10/1/29	(h)(i)	Chemicals	€	1,406		1,317		1,399
Olympus Water U.S. Holding Corp., 6.3%, 10/1/29	(g)(h)	Chemicals	$	1,734		1,588		1,593
OneMain Finance Corp., 4.0%, 9/15/30	(h)	Diversified Financial Services		20		20		18
OneMain Finance Corp., 5.4%, 11/15/29	(h)	Diversified Financial Services		761		678		732
OneMain Finance Corp., 7.5%, 5/15/31		Diversified Financial Services		657		657		676
Open Text Corp., 3.9%, 12/1/29	(g)(h)	Software		137		114		124
Open Text Holdings, Inc., 4.1%, 12/1/31	(g)(h)	Software		606		492		542
Penn Entertainment, Inc., 4.1%, 7/1/29	(g)(h)	Entertainment		674		562		597
Permian Resources Operating LLC, 9.9%, 7/15/31	(g)(h)	Oil & Gas		1,412		1,444		1,574
Petroleos Mexicanos, 6.0%, 1/28/31	(h)	Oil & Gas		735		574		607
Petroleos Mexicanos, 6.5%, 1/23/29	(h)	Oil & Gas		355		316		323
Petroleos Mexicanos, 6.6%, 6/15/35	(h)	Oil & Gas		1,507		1,127		1,171
Pike Corp., 8.6%, 1/31/31	(g)(h)	Electric		1,894		1,954		2,039
Plains All American Pipeline LP, Series B, S+430, 9/3/24	(h)(l)(m)	Pipelines		502		461		503
PNC Financial Services Group, Inc., Series W, 6.3% 3/15/30 (fixed, converts to FRN on 3/15/30)	(h)(l)(m)	Banks		2,095		2,053		2,048
Post Holdings, Inc., 5.5%, 12/15/29	(g)(h)	Food		823		779		799
Raising Cane’s Restaurants LLC, 9.4%, 5/1/29	(g)(h)	Retail		919		919		993
RingCentral, Inc., 8.5%, 8/15/30	(g)(h)(j)	Software		2,294		2,293		2,412
Royal Caribbean Cruises Ltd., 6.0%, 2/1/33	(g)(n)	Leisure Time		578		578		583
Royal Caribbean Cruises Ltd., 6.3%, 3/15/32	(g)(h)	Leisure Time		608		614		620
Royal Caribbean Cruises Ltd., 9.3%, 1/15/29	(g)(h)(j)	Leisure Time		3,366		3,559		3,600
SeaWorld Parks & Entertainment, Inc., 5.3%, 8/15/29	(g)(h)	Entertainment		1,273		1,117		1,214

See notes to unaudited consolidated schedule of investments.

7

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Service Properties Trust, 5.5%, 12/15/27	(h)(j)	Real Estate Investment Trusts	$	1,500	$	1,371	$	1,431
Signal Parent, Inc., 6.1%, 4/1/29	(g)(h)	Commercial Services		92		90		63
Sirius XM Radio, Inc., 3.9%, 9/1/31	(g)(h)	Media Entertainment		1,544		1,219		1,291
SoftBank Group Corp., 3.1%, 1/6/25	(h)(i)	Telecommunications		435		429		428
SoftBank Group Corp., 3.1%, 9/19/25	(h)(i)	Telecommunications	€	933		1,001		995
SoftBank Group Corp., 4.5%, 4/20/25	(h)(i)	Telecommunications		879		954		951
Solocal Group, E+700, 12/31/99	(l)	Internet		10		—		—
Sprint LLC, 7.6%, 2/15/25	(h)	Telecommunications	$	5,418		5,450		5,450
Standard Industries, Inc., 4.4%, 7/15/30	(g)(h)	Building Materials		2,872		2,589		2,618
Station Casinos LLC, 4.6%, 12/1/31	(g)(h)(j)	Lodging		953		774		869
Sterling Entertainment Enterprises LLC, 10.3%, 1/15/25	(e)	Media Entertainment		813		801		805
Terex Corp., 5.0%, 5/15/29	(g)(h)	Machinery-Construction & Mining		723		679		695
Teva Pharmaceutical Finance Netherlands II BV, 4.5%, 3/1/25	(h)	Pharmaceuticals	€	1,189		1,280		1,289
Teva Pharmaceutical Finance Netherlands II BV, 6.0%, 1/31/25	(h)	Pharmaceuticals		670		727		729
Teva Pharmaceutical Finance Netherlands III BV, 7.1%, 1/31/25	(h)	Pharmaceuticals	$	1,756		1,762		1,764
Thor Industries, Inc., 4.0%, 10/15/29	(g)(h)	Home Builders		3,221		2,752		2,907
TI Automotive Finance PLC, 3.8%, 4/15/29	(h)(i)	Auto Parts & Equipment	€	2,799		2,811		2,822
Tidewater, Inc., 10.4%, 7/3/28	(g)(h)	Oil & Gas	$	1,100		1,091		1,188
TransDigm, Inc., 5.5%, 11/15/27	(h)	Aerospace/Defense		2,346		2,298		2,318
TUI Cruises GmbH, 6.5%, 5/15/26	(h)(i)	Leisure Time	€	5,180		5,484		5,661
Twilio, Inc., 3.9%, 3/15/31	(h)	Software	$	1,801		1,585		1,619
Uber Technologies, Inc., 8.0%, 11/1/26	(g)(h)	Internet		2,134		2,146		2,145
UniCredit SpA, 7.3%, 4/2/34 (fixed, converts to FRN on 4/2/29)	(g)(h)(l)	Banks		985		1,012		1,023
United Rentals North America, Inc., 3.8%, 1/15/32	(h)	Commercial Services		2,337		2,030		2,065
Vibrantz Technologies, Inc., 9.0%, 2/15/30	(g)(h)	Chemicals		3,751		3,500		3,362
VICI Properties LP / VICI Note Co., Inc., 4.6%, 6/15/25	(g)(h)	Real Estate Investment Trusts		907		895		899
Viking Cruises Ltd., 7.0%, 2/15/29	(g)(h)(j)	Leisure Time		3,603		3,363		3,641
Viper Energy, Inc., 7.4%, 11/1/31	(g)(h)	Oil & Gas		706		706		741
Vistra Corp., 7.0%, 12/15/26 (fixed, converts to FRN on 12/15/26)	(g)(h)(l)(m)	Electric		972		891		978
Vistra Corp., 8.0%, 10/15/26 (fixed, converts to FRN on 10/15/26)	(g)(h)(l)(m)	Electric		2,873		2,807		2,950
Vistra Corp., Series C, 8.9%, 1/15/29 (fixed, converts to FRN on 1/15/29)	(g)(h)(l)(m)	Electric		3,259		3,334		3,433
Vodafone Group PLC, 4.1%, 6/4/81 (fixed, converts to FRN on 3/4/31)	(l)	Telecommunications		420		369		370
WR Grace Holdings LLC, 5.6%, 8/15/29	(g)(h)	Chemicals		1,573		1,349		1,441
XPO, Inc., 7.1%, 2/1/32	(g)(h)(j)	Transportation		1,090		1,090		1,128
Yum! Brands, Inc., 3.6%, 3/15/31	(h)	Retail		1,751		1,555		1,563
Yum! Brands, Inc., 4.6%, 1/31/32	(h)	Retail		577		533		539
ZoomInfo Technologies LLC / ZoomInfo Finance Corp., 3.9%, 2/1/29	(g)(h)	Software		1,817		1,608		1,661
Total Unsecured Bonds						291,662		300,721
Collateralized Loan Obligation (CLO) / Structured Credit—29.3%
37 Capital CLO 1 Ltd., Series 2021-1A, Class D, ABS, S+378, 10/15/34	(g)(l)	USD CLO		655		620		654
Accunia European CLO II DAC, Series 2X, Class D, ABS, E+300, 10/15/30	(i)(l)	EUR CLO	€	670		666		726
Accunia European CLO III DAC, Series 3X, Class D, ABS, E+305, 1/20/31	(i)(l)	EUR CLO		240		274		260
Alba PLC, Series 2007-1, Class C, CMO, SONIA+41, 3/17/39	(i)(l)	GBP CLO	£	455		494		554

See notes to unaudited consolidated schedule of investments.

8

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Alinea CLO Ltd., Series 2018-1A, Class D, ABS, S+336, 7/20/31	(g)(l)	USD CLO	$	595	$	585	$	596
Allegro CLO X Ltd., Series 2019-1A, Class CRR, ABS, S+205, 4/20/32	(g)(l)(n)	USD CLO		1,635		1,635		1,635
Allegro CLO X Ltd., Series 2019-1A, Class DRR, ABS, S+305, 4/20/32	(g)(l)(n)	USD CLO		2,455		2,455		2,455
Ally Bank Auto Credit-Linked Notes, Series 2024-A, Class E, ABS, 7.9%, 5/17/32	(g)	Asset-Backed - Automobile		267		267		270
Anchorage Capital CLO 20 Ltd., Series 2021-20A, Class D, ABS, S+391, 1/20/35	(g)(l)	USD CLO		455		424		452
Anchorage Capital CLO 8 Ltd., Series 2016-8A, Class DR2, ABS, S+386, 10/27/34	(g)(l)	USD CLO		250		229		250
Anchorage Capital CLO Ltd., Series 2018-10A, Class CR, ABS, S+205, 10/15/31	(g)(l)	USD CLO		700		700		700
Anchorage Capital CLO Ltd., Series 2018-10A, Class DR, ABS, S+295, 10/15/31	(g)(l)	USD CLO		1,135		1,135		1,135
Anchorage Capital Europe CLO 2 DAC, Series 2X, Class CR, ABS, E+240, 4/15/34	(i)(l)	EUR CLO	€	410		377		446
Anchorage Capital Europe CLO 3 DAC, Series 3X, Class D, ABS, E+380, 7/15/32	(i)(l)	EUR CLO		745		796		808
Anchorage Credit Funding 10 Ltd., Series 2020-10A, Class EV, ABS, 7.1%, 4/25/38	(g)	USD CLO	$	250		236		229
Anchorage Credit Funding 12 Ltd., Series 2020-12A, Class D, ABS, 5.9%, 10/25/38	(g)	USD CLO		295		295		280
Anchorage Credit Funding 2 Ltd., Series 2015-2A, Class ERV, ABS, 7.0%, 4/25/38	(g)	USD CLO		250		233		233
Anchorage Credit Funding 3 Ltd., Series 2016-3A, Class DR, ABS, 5.8%, 1/28/39	(g)	USD CLO		250		250		236
Anchorage Credit Funding 3 Ltd., Series 2016-3A, Class ER, ABS, 7.2%, 1/28/39	(g)	USD CLO		410		388		377
Anchorage Credit Funding 6 Ltd., Series 2018-6A, Class E, ABS, 6.9%, 7/25/36	(g)	USD CLO		570		549		536
Apex Credit CLO Ltd., Series 2018-1A, Class C, ABS, S+221, 4/25/31	(g)(l)	USD CLO		1,375		1,325		1,375
Apidos CLO XII Ltd., Series 2013-12A, Class DRR, ABS, S+280, 4/15/31	(g)(l)	USD CLO		1,170		1,170		1,170
Apidos CLO XXVIII Ltd., Series 2017-28A, Class C, ABS, S+276, 1/20/31	(g)(l)	USD CLO		835		813		835
Aqueduct European CLO DAC, Series 2019-4X, Class CR, ABS, E+200, 7/15/32	(i)(l)	EUR CLO	€	525		527		564
Arbour CLO VII DAC, Series 7A, Class B2E, ABS, E+180, 3/15/33	(g)(l)	EUR CLO		250		239		271
ARES European CLO IX DAC, Series 9X, Class C, ABS, E+155, 10/14/30	(i)(l)	EUR CLO		715		760		774
ARES European CLO IX DAC, Series 9X, Class E, ABS, E+440, 10/14/30	(i)(l)	EUR CLO		290		321		314
ARES European CLO VI DAC, Series 2013-6X, Class ER, ABS, E+530, 4/15/30	(i)(l)	EUR CLO		340		386		369
ARES European CLO X DAC, Series 10X, Class CR, ABS, E+190, 10/15/31	(i)(l)	EUR CLO		795		816		853
ARES European CLO XII DAC, Series 12X, Class DR, ABS, E+300, 4/20/32	(i)(l)	EUR CLO		290		304		314
ARES XL CLO Ltd., Series 2016-40A, Class BRR, ABS, S+206, 1/15/29	(g)(l)	USD CLO	$	350		337		351
ARES XLIX CLO Ltd., Series 2018-49A, Class D, ABS, S+326, 7/22/30	(g)(l)	USD CLO		250		246		250
ARES XXVIIIR CLO Ltd., Series 2018-28RA, Class CR, ABS, S+210, 10/17/30	(g)(l)	USD CLO		890		892		890
ARES XXXVII CLO Ltd., Series 2015-4A, Class CRR, ABS, S+275, 10/15/30	(g)(l)	USD CLO		2,230		2,230		2,235
ARES XXXVR CLO Ltd., Series 2015-35RA, Class D, ABS, S+326, 7/15/30	(g)(l)	USD CLO		250		250		251

See notes to unaudited consolidated schedule of investments.

9

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Armada Euro CLO III DAC, Series 3A, Class DR, ABS, E+330, 7/15/31	(g)(l)	EUR CLO	€	880	$	864	$	954
ARZ Trust, Series 2024-BILT, Class E, 7.5%, 6/11/29	(g)	Commercial MBS	$	25		25		26
ARZ Trust, Series 2024-BILT, Class F, 8.3%, 6/11/29	(g)	Commercial MBS		995		995		1,025
ARZ Trust, Series 2024-BILT, Class G, 8.8%, 6/11/29	(g)	Commercial MBS		115		115		119
Atrium IX, Series 9A, Class CR2, ABS, S+226, 5/28/30	(g)(h)(j)(l)	USD CLO		2,520		2,419		2,528
Atrium IX, Series 9A, Class DR, ABS, S+386, 5/28/30	(g)(l)	USD CLO		1,195		1,180		1,199
Atrium XIII, Series 13A, Class C, ABS, S+206, 11/21/30	(g)(l)	USD CLO		430		418		430
Atrium XIV LLC, Series 14A, Class D, ABS, S+321, 8/23/30	(g)(l)	USD CLO		250		240		250
Aurium CLO III DAC, Series 3X, Class D, ABS, E+310, 4/16/30	(i)(l)	EUR CLO	€	300		318		325
Aurium CLO IV DAC, Series 4X, Class D, ABS, E+230, 1/16/31	(i)(l)	EUR CLO		305		308		326
Aurium CLO VII DAC, Series 7X, Class D, ABS, E+310, 5/15/34	(i)(l)	EUR CLO		380		396		411
Avoca Capital CLO X Ltd., Series 10X, Class DRR, ABS, E+310, 4/15/35	(i)(l)	EUR CLO		1,130		1,131		1,220
Avoca CLO XI DAC, Series 11X, Class ER, ABS, E+500, 7/15/30	(i)(l)	EUR CLO		210		227		228
Avoca CLO XIII DAC, Series 13X, Class ERR, ABS, E+622, 4/15/34	(i)(l)	EUR CLO		240		231		260
Avoca CLO XIX DAC, Series 19X, Class D, ABS, E+320, 10/15/31	(i)(l)	EUR CLO		840		868		910
Avoca CLO XV DAC, Series 15X, Class ER, ABS, E+413, 4/15/31	(i)(l)	EUR CLO		360		389		384
Avoca CLO XVII DAC, Series 17X, Class CRR, ABS, E+215, 10/15/32	(i)(l)	EUR CLO		860		892		932
Avoca CLO XVIII DAC, Series 18X, Class E, ABS, E+460, 4/15/31	(i)(l)	EUR CLO		195		216		211
Avoca CLO XXII DAC, Series 22A, Class D, ABS, E+290, 4/15/35	(g)(l)	EUR CLO		360		322		387
Avoca CLO XXIII DAC, Series 23X, Class D, ABS, E+305, 4/15/34	(i)(l)	EUR CLO		285		275		310
Avoca CLO XXVI DAC, Series 26X, Class B1, ABS, E+175, 4/15/35	(i)(l)	EUR CLO		355		380		385
Bain Capital Euro CLO DAC, Series 2018-2X, Class D, ABS, E+320, 1/20/32	(i)(l)	EUR CLO		370		362		401
Bain Capital Euro CLO DAC, Series 2021-2X, Class D, ABS, E+340, 7/17/34	(i)(l)	EUR CLO		355		374		379
Barings Euro CLO DAC, Series 2018-2X, Class D, ABS, E+320, 10/15/31	(i)(l)	EUR CLO		920		1,080		996
Barings Euro CLO DAC, Series 2018-3A, Class DE, ABS, E+370, 7/27/31	(g)(l)	EUR CLO		480		525		520
Benefit Street Partners CLO XII Ltd., Series 2017-12A, Class B, ABS, S+226, 10/15/30	(g)(l)	USD CLO	$	400		387		401
Betony CLO 2 Ltd., Series 2018-1A, Class C, ABS, S+316, 4/30/31	(g)(l)	USD CLO		595		578		597
Bilbao CLO I DAC, Series 1X, Class B, ABS, E+170, 7/20/31	(i)(l)	EUR CLO	€	515		529		558
Bilbao CLO I DAC, Series 1X, Class C, ABS, E+255, 7/20/31	(i)(l)	EUR CLO		550		569		596
Bilbao CLO II DAC, Series 2X, Class BR, ABS, E+210, 8/20/35	(i)(l)	EUR CLO		495		517		536
Bilbao CLO III DAC, Series 3X, Class BR, ABS, E+200, 5/17/34	(i)(l)	EUR CLO		490		510		527
Birch Grove CLO 2 Ltd., Series 2021-2A, Class D2, ABS, S+522, 10/19/34	(g)(l)	USD CLO	$	605		599		598
Birch Grove CLO 3 Ltd., Series 2021-3A, Class D2, ABS, S+537, 1/19/35	(g)(l)	USD CLO		885		876		875
Black Diamond CLO DAC, Series 2017-2X, Class CNE, ABS, E+195, 1/20/32	(i)(l)	EUR CLO	€	590		611		639

See notes to unaudited consolidated schedule of investments.

10

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Black Diamond CLO Ltd., Series 2017-1A, Class C, ABS, S+421, 4/24/29	(g)(l)	USD CLO	$	590	$	581	$	592
BlackRock European CLO 1 DAC, Series 1X, Class DR, ABS, E+230, 3/15/31	(i)(l)	EUR CLO	€	300		301		325
BlackRock European CLO IV DAC, Series 4X, Class D, ABS, E+265, 7/15/30	(i)(l)	EUR CLO		900		942		975
BlackRock European CLO X DAC, Series 10X, Class B1R, ABS, E+178, 10/15/34	(i)(l)	EUR CLO		260		267		281
BlueMountain CLO Ltd., Series 2015-4A, Class CR, ABS, S+216, 4/20/30	(g)(l)	USD CLO	$	1,080		1,058		1,084
BlueMountain CLO Ltd., Series 2018-1A, Class C, ABS, S+231, 7/30/30	(g)(l)	USD CLO		250		244		250
BlueMountain Fuji EUR CLO V DAC, Series 5X, Class C, ABS, E+245, 1/15/33	(i)(l)	EUR CLO	€	865		870		940
BlueMountain Fuji EUR CLO V DAC, Series 5X, Class D, ABS, E+385, 1/15/33	(i)(l)	EUR CLO		160		164		174
BlueMountain Fuji U.S. CLO III Ltd., Series 2017-3A, Class D, ABS, S+266, 1/15/30	(g)(l)	USD CLO	$	250		240		247
BNPP AM Euro CLO DAC, Series 2017-1X, Class B, ABS, E+155, 10/15/31	(i)(l)	EUR CLO	€	380		396		410
BNPP AM Euro CLO DAC, Series 2019-1X, Class DR, ABS, E+305, 7/22/32	(i)(l)	EUR CLO		525		567		567
BOCA Commercial Mortgage Trust, Series 2022-BOCA, Class F, S+522, 5/15/39	(g)(l)	Commercial MBS	$	570		575		571
Bosphorus CLO V DAC, Series 5A, Class DE, ABS, E+480, 12/12/32	(g)(l)	EUR CLO	€	320		354		347
BRAVO Residential Funding Trust, Series 2024-NQM5, Class B-1, ABS, 7.4%, 6/25/64	(g)(l)(n)	USD CLO	$	800		800		800
BRAVO Residential Funding Trust, Series 2023-NQM7, Class B1, CMO, 8.0%, 9/25/63	(g)(l)	USD CLO		1,195		1,189		1,215
BRAVO Residential Funding Trust, Series 2024-NQM1, Class B1, ABS, 8.0%, 12/1/63	(g)	USD CLO		511		511		526
BRAVO Residential Funding Trust, Series 2024-NQM3, Class B1, CMO, 8.1%, 3/25/64	(g)(l)	USD CLO		755		755		779
BRAVO Residential Funding Trust, Series 2024-NQM5, Class B-2, ABS, 8.2%, 6/25/64	(g)(l)(n)	USD CLO		970		946		946
BRAVO Residential Funding Trust, Series 2024-NQM1, Class B2, ABS, 8.2%, 12/1/63	(g)(l)	USD CLO		220		210		219
BRAVO Residential Funding Trust, Series 2024-NQM3, Class B2, CMO, 8.4%, 3/25/64	(g)(l)	USD CLO		400		392		400
Bridgepoint CLO 2 DAC, Series 2X, Class C, ABS, E+200, 4/15/35	(i)(l)	EUR CLO	€	300		294		323
Bridgepoint CLO 2 DAC, Series 2X, Class D, ABS, E+300, 4/15/35	(i)(l)	EUR CLO		310		310		339
Bridgepoint CLO 3 DAC, Series 3X, Class D, ABS, E+340, 1/15/36	(i)(l)	EUR CLO		290		293		319
Business Jet Securities LLC, Series 2024-1A, Class C, ABS, 9.1%, 5/15/39	(g)	USD CLO	$	576		576		587
Buttermilk Park CLO Ltd., Series 2018-1A, Class CR, ABS, S+195, 10/15/31	(g)(l)	USD CLO		250		250		250
BX Trust, Series 2019-OC11, Class E, 3.9%, 12/9/41	(g)(l)	Commercial MBS		1,130		939		991
BX Trust, Series 2021-ARIA, Class D, S+201, 10/15/36	(g)(l)	Commercial MBS		765		731		752
BX Trust, Series 2021-ARIA, Class E, S+236, 10/15/36	(g)(l)	Commercial MBS		855		811		840
BX Trust, Series 2021-ARIA, Class F, S+271, 10/15/36	(g)(l)	Commercial MBS		2,070		1,950		2,026
Cairn CLO IX DAC, Series 2018-9X, Class C, ABS, E+150, 4/25/32	(i)(l)	EUR CLO	€	415		398		444
Cairn CLO VII DAC, Series 2016-7X, Class E, ABS, E+635, 1/31/30	(i)(l)	EUR CLO		440		487		478
Cairn CLO XIV DAC, Series 2021-14A, Class B1, ABS, E+170, 10/29/34	(g)(l)	EUR CLO		250		242		269
Cairn CLO XIV DAC, Series 2021-14X, Class C, ABS, E+210, 10/29/34	(i)(l)	EUR CLO		320		335		342

See notes to unaudited consolidated schedule of investments.

11

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Cairn CLO XV DAC, Series 2022-15X, Class B1, ABS, E+175, 4/15/36	(i)(l)	EUR CLO	€	410	$	362	$	444
Canyon Capital CLO Ltd., Series 2014-1A, Class BR, ABS, S+206, 1/30/31	(g)(l)	USD CLO	$	665		636		665
Canyon Capital CLO Ltd., Series 2016-2A, Class CR, ABS, S+246, 10/15/31	(g)(l)	USD CLO		285		281		285
Canyon Capital CLO Ltd., Series 2017-1A, Class DR, ABS, S+326, 7/15/30	(g)(l)	USD CLO		1,090		1,072		1,090
Canyon Capital CLO Ltd., Series 2012-1RA, Class D, ABS, S+326, 7/15/30	(g)(l)	USD CLO		795		783		796
Capital Four CLO I DAC, Series 1X, Class C, ABS, E+255, 1/15/33	(i)(l)	EUR CLO	€	440		476		479
Capital Four CLO II DAC, Series 2X, Class C, ABS, E+270, 1/15/34	(i)(l)	EUR CLO		290		266		315
Capital Four CLO III DAC, Series 3X, Class B1, ABS, E+175, 10/15/34	(i)(l)	EUR CLO		545		495		590
Carbone CLO Ltd., Series 2017-1A, Class B, ABS, S+206, 1/20/31	(g)(l)	USD CLO	$	545		516		545
Carlyle Euro CLO DAC, Series 2018-2X, Class B1, ABS, E+210, 8/28/31	(i)(l)	EUR CLO	€	255		272		276
Carlyle Euro CLO DAC, Series 2017-3X, Class C, ABS, E+250, 1/15/31	(i)(l)	EUR CLO		160		159		172
Carlyle Global Market Strategies CLO Ltd., Series 2013-4A, Class DRR, ABS, S+291, 1/15/31	(g)(l)	USD CLO	$	690		682		685
Carlyle Global Market Strategies CLO Ltd., Series 2014-3RA, Class C, ABS, S+321, 7/27/31	(g)(l)	USD CLO		375		376		371
Carlyle Global Market Strategies CLO Ltd., Series 2013-1A, Class CR, ABS, S+361, 8/14/30	(g)(l)	USD CLO		435		420		436
Carlyle Global Market Strategies Euro CLO DAC, Series 2014-1X, Class C1R, ABS, E+185, 7/15/31	(i)(l)	EUR CLO	€	660		715		714
Carlyle Global Market Strategies Euro CLO DAC, Series 2016-2X, Class BRR, ABS, E+240, 4/15/34	(i)(l)	EUR CLO		525		565		562
Carlyle Global Market Strategies Euro CLO DAC, Series 2015-3X, Class C1RE, ABS, E+255, 7/15/30	(i)(l)	EUR CLO		275		323		298
Carlyle Global Market Strategies Euro CLO DAC, Series 2020-1X, Class D, ABS, E+544, 4/15/33	(i)(l)	EUR CLO		250		292		255
Carlyle U.S. CLO Ltd., Series 2017-5A, Class B, ABS, S+206, 1/20/30	(g)(l)	USD CLO	$	440		413		441
Carlyle U.S. CLO Ltd., Series 2017-4A, Class C, ABS, S+306, 1/15/30	(g)(l)	USD CLO		250		236		249
Carlyle U.S. CLO Ltd., Series 2018-2A, Class C, ABS, S+316, 10/15/31	(g)(l)	USD CLO		305		301		305
CarVal CLO VC Ltd., Series 2021-2A, Class C, ABS, S+246, 10/15/34	(g)(l)	USD CLO		355		335		356
Catamaran CLO Ltd., Series 2014-1A, Class CR, ABS, S+369, 4/22/30	(g)(l)	USD CLO		250		244		250
Cedar Funding VII CLO Ltd., Series 2018-7A, Class C, ABS, S+201, 1/20/31	(g)(l)	USD CLO		395		388		395
Cedar Funding VII CLO Ltd., Series 2018-7A, Class D, ABS, S+281, 1/20/31	(g)(l)	USD CLO		250		238		250
CIFC European Funding CLO III DAC, Series 3X, Class D, ABS, E+360, 1/15/34	(i)(l)	EUR CLO	€	355		356		387
CIFC European Funding CLO V DAC, Series 5X, Class D, ABS, E+315, 11/23/34	(i)(l)	EUR CLO		520		474		560
CIFC Funding Ltd., Series 2017-2X, Class CR, ABS, S+211, 4/20/30	(i)(l)	USD CLO	$	250		234		251
CIFC Funding Ltd., Series 2013-4A, Class DRR, ABS, S+306, 4/27/31	(g)(l)	USD CLO		605		571		605
CIFC Funding Ltd., Series 2018-2A, Class C, ABS, S+311, 4/20/31	(g)(l)	USD CLO		325		305		325
CIFC Funding Ltd., Series 2013-2A, Class B1LR, ABS, S+331, 10/18/30	(g)(l)	USD CLO		625		620		625

See notes to unaudited consolidated schedule of investments.

12

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Clover CLO LLC, Series 2021-2A, Class C, ABS, S+226, 7/20/34	(g)(l)	USD CLO	$	625	$	610	$	625
Clover Credit Partners CLO III Ltd., Series 2017-1A, Class D, ABS, S+401, 10/15/29	(g)(l)	USD CLO		1,710		1,691		1,725
Contego CLO V DAC, Series 5X, Class D, ABS, E+265, 1/15/31	(i)(l)	EUR CLO	€	275		278		298
CVC Cordatus Loan Fund III DAC, Series 3X, Class DRR, ABS, E+255, 8/15/32	(i)(l)	EUR CLO		850		843		914
CVC Cordatus Loan Fund VII DAC, Series 7X, Class DRR, ABS, E+290, 9/15/31	(i)(l)	EUR CLO		285		263		309
CVC Cordatus Loan Fund X DAC, Series 10X, Class C, ABS, E+160, 1/27/31	(i)(l)	EUR CLO		200		206		215
CVC Cordatus Loan Fund X DAC, Series 10X, Class D, ABS, E+250, 1/27/31	(i)(l)	EUR CLO		190		207		207
CVC Cordatus Loan Fund XI DAC, Series 11X, Class CR, ABS, E+190, 10/15/31	(i)(l)	EUR CLO		420		434		450
CVC Cordatus Loan Fund XV DAC, Series 15X, Class E, ABS, E+578, 8/26/32	(i)(l)	EUR CLO		1,255		1,326		1,358
CVC Cordatus Loan Fund XVIII DAC, Series 18X, Class CR, ABS, E+215, 7/29/34	(i)(l)	EUR CLO		310		319		335
CVC Cordatus Loan Fund XXII DAC, Series 22X, Class D, ABS, E+315, 12/15/34	(i)(l)	EUR CLO		475		456		517
CVC Cordatus Opportunity Loan Fund DAC, Series 1X, Class C, ABS, E+255, 8/15/33	(i)(l)	EUR CLO		905		983		984
Dartry Park CLO DAC, Series 1X, Class BRR, ABS, E+230, 1/28/34	(i)(l)	EUR CLO		355		339		386
Dewolf Park CLO Ltd., Series 2017-1A, Class DR, ABS, S+311, 10/15/30	(g)(l)	USD CLO	$	1,065		1,044		1,065
Dryden 41 Senior Loan Fund, Series 2015-41A, Class CR, ABS, S+201, 4/15/31	(g)(l)	USD CLO		250		242		250
Dryden 59 Euro CLO DAC, Series 2017-59X, Class D1, ABS, E+240, 5/15/32	(i)(l)	EUR CLO	€	365		393		388
Dryden XXVI Senior Loan Fund, Series 2013-26A, Class CR, ABS, S+211, 4/15/29	(g)(l)	USD CLO	$	350		339		350
Eaton Vance CLO Ltd., Series 2014-1RA, Class C, ABS, S+236, 7/15/30	(g)(l)	USD CLO		325		319		325
Eaton Vance CLO Ltd., Series 2014-1RA, Class D, ABS, S+331, 7/15/30	(g)(l)	USD CLO		250		238		250
Elevation CLO Ltd., Series 2018-3A, Class CR, ABS, S+273, 1/25/35	(g)(l)	USD CLO		500		489		500
Elevation CLO Ltd., Series 2017-8A, Class D, ABS, S+313, 10/25/30	(g)(l)	USD CLO		775		763		772
Elevation CLO Ltd., Series 2021-14A, Class D2, ABS, S+528, 10/20/34	(g)(l)	USD CLO		630		622		611
Ellington CLO I Ltd., Series 2017-1A, Class DR, ABS, S+361, 10/15/29	(g)(l)	USD CLO		410		400		403
Ellington CLO II Ltd., Series 2017-2A, Class D, ABS, S+391, 2/15/29	(g)(l)	USD CLO		500		489		497
Ellington CLO IV Ltd., Series 2019-4A, Class D1, ABS, S+576, 4/15/29	(g)(l)	USD CLO		585		580		588
Erna SRL, Series 1, Class A, E+225, 7/25/31	(i)(l)	Commercial MBS	€	127		147		137
Euro-Galaxy III CLO DAC, Series 2013-3X, Class BR2, ABS, E+140, 4/24/34	(i)(l)	EUR CLO		955		989		1,026
Euro-Galaxy III CLO DAC, Series 2013-3X, Class DRRR, ABS, E+325, 4/24/34	(i)(l)	EUR CLO		230		243		249
Euro-Galaxy V CLO DAC, Series 2016-5A, Class CRR, ABS, E+240, 2/15/34	(g)(l)	EUR CLO		345		313		374
Euro-Galaxy V CLO DAC, Series 2016-5X, Class DRR, ABS, E+365, 2/15/34	(i)(l)	EUR CLO		440		465		476
Euro-Galaxy VII CLO DAC, Series 2019-7X, Class CR, ABS, E+240, 7/25/35	(i)(l)	EUR CLO		895		887		972
Euro-Galaxy VII CLO DAC, Series 2019-7X, Class DR, ABS, E+350, 7/25/35	(i)(l)	EUR CLO		1,210		1,200		1,306

See notes to unaudited consolidated schedule of investments.

13

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Fair Oaks Loan Funding I DAC, Series 1X, Class DR, ABS, E+340, 4/15/34	(i)(l)	EUR CLO	€	385	$	381	$	418
Fair Oaks Loan Funding II DAC, Series 2X, Class DR, ABS, E+305, 4/15/34	(i)(l)	EUR CLO		370		383		397
Fair Oaks Loan Funding III DAC, Series 3X, Class DR, ABS, E+300, 10/15/34	(i)(l)	EUR CLO		945		939		1,019
Federal Home Loan Mortgage Corp. Multifamily Structured Credit Risk, Series 2024-MN8, Class M1, S+285, 5/25/44	(g)(l)	Commercial MBS	$	405		405		407
Federal Home Loan Mortgage Corp. Multifamily Structured Credit Risk, Series 2023-MN7, Class M1, ABS, S+360, 9/25/43	(g)(l)	Commercial MBS		1,598		1,598		1,622
Federal Home Loan Mortgage Corp. STACR REMICS Trust, Series 2021-DNA7, Class M2, CMO, S+180, 11/25/41	(g)(l)	USD CLO		985		941		996
Federal Home Loan Mortgage Corp. STACR REMICS Trust, Series 2021-HQA2, Class M2, CMO, S+205, 12/25/33	(g)(l)	USD CLO		609		582		625
Federal Home Loan Mortgage Corp. STACR REMICS Trust, Series 2022-DNA2, Class M1B, CMO, S+240, 2/25/42	(g)(l)	USD CLO		560		526		577
Federal Home Loan Mortgage Corp. STACR REMICS Trust, Series 2021-DNA5, Class B1, ABS, S+305, 1/25/34	(g)(l)	USD CLO		555		551		599
Federal Home Loan Mortgage Corp. STACR REMICS Trust, Series 2021-HQA2, Class B1, ABS, S+315, 12/25/33	(g)(l)	USD CLO		520		514		580
Federal Home Loan Mortgage Corp. STACR REMICS Trust, Series 2023-DNA2, Class M1B, ABS, S+325, 4/25/43	(g)(l)	USD CLO		270		270		286
Federal Home Loan Mortgage Corp. STACR REMICS Trust, Series 2021-DNA3, Class B1, ABS, S+350, 10/25/33	(g)(l)	USD CLO		200		206		226
Federal Home Loan Mortgage Corp. STACR REMICS Trust, Series 2020-HQA5, Class B1, ABS, S+400, 11/25/50	(g)(l)	USD CLO		310		322		350
Federal National Mortgage Association Connecticut Avenue Securities, Series 2024-R02, Class 1B1, CMO, S+250, 2/25/44	(g)(l)	USD CLO		245		245		251
Federal National Mortgage Association Connecticut Avenue Securities, Series 2024-R01, Class 1B1, ABS, S+270, 1/25/44	(g)(l)	USD CLO		455		455		466
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2021-R03, Class 1M2, CMO, S+165, 12/25/41	(g)(l)	USD CLO		184		168		186
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2021-R02, Class 2M2, ABS, S+200, 11/25/41	(g)(l)	USD CLO		275		266		277
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M2, ABS, S+270, 7/25/43	(g)(l)	USD CLO		230		230		241
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2022-R02, Class 2M2, CMO, S+300, 1/25/42	(g)(l)	USD CLO		1,460		1,419		1,505
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2022-R05, Class 2M2, ABS, S+300, 4/25/42	(g)(l)	USD CLO		260		256		270
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2022-R04, Class 1M2, CMO, S+310, 3/25/42	(g)(l)	USD CLO		435		420		454
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M2, ABS, S+310, 6/25/43	(g)(l)	USD CLO		330		330		350

See notes to unaudited consolidated schedule of investments.

14

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M2, ABS, S+355, 5/25/43	(g)(l)	USD CLO	$	570	$	570	$	612
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2019-R06, Class 2B1, CMO, S+386, 9/25/39	(g)(l)	USD CLO		327		327		342
Federal National Mortgage Association Connecticut Avenue Securities Trust, Series 2023-R06, Class 1B1, ABS, S+390, 7/25/43	(g)(l)	USD CLO		105		105		112
Fidelity Grand Harbour CLO DAC, Series 2021-1X, Class C, ABS, E+250, 10/15/34	(i)(l)	EUR CLO	€	375		384		407
Fontainebleau Miami Beach Trust, Series 2019-FBLU, Class F, 4.0%, 12/10/36	(g)(l)	Commercial MBS	$	285		268		277
Fontainebleau Miami Beach Trust, Series 2019-FBLU, Class G, 4.0%, 12/10/36	(g)(l)	Commercial MBS		570		528		559
Galaxy XIX CLO Ltd., Series 2015-19A, Class BRR, ABS, S+211, 7/24/30	(g)(l)	USD CLO		520		497		520
Galaxy XX CLO Ltd., Series 2015-20A, Class D1R, ABS, S+286, 4/20/31	(g)(l)	USD CLO		982		975		979
Galaxy XXVII CLO Ltd., Series 2018-27A, Class D, ABS, S+301, 5/16/31	(g)(l)	USD CLO		1,290		1,223		1,290
Galaxy XXVIII CLO Ltd., Series 2018-28A, Class C, ABS, S+221, 7/15/31	(g)(l)	USD CLO		250		243		251
GAM FRR2 H Co.	(e)(o)(p)	USD CLO		1		387		390
GAM Re-REMIC Trust, Series 2021-FRR1, Class 1C, 0.0%, 11/29/50	(g)(k)(o)	Commercial MBS		41		30		32
GAM Re-REMIC Trust, Series 2021-FRR1, Class 1D, 0.0%, 11/29/50	(g)(k)(o)	Commercial MBS		60		42		46
GAM Re-REMIC Trust, Series 2021-FRR1, Class 2C, 0.0%, 11/29/50	(g)(k)(o)	Commercial MBS		44		30		34
GAM Re-REMIC Trust, Series 2021-FRR2, Class CK44, 0.0%, 9/27/51	(g)(k)(o)	Commercial MBS		43		36		41
GAM Re-REMIC Trust, Series 2021-FRR2, Class DK49, 0.0%, 9/27/51	(g)(k)(o)	Commercial MBS		34		27		31
GAM Re-REMIC Trust, Series 2021-FRR2, Class D730, 0.0%, 9/27/51	(g)(k)(o)	Commercial MBS		35		29		33
GAM Re-REMIC Trust, Series 2021-FRR2, Class CK78, 0.0%, 9/27/51	(g)(k)(o)	Commercial MBS		29		19		20
GAM Re-REMIC Trust, Series 2021-FRR2, Class BK78, 2.4%, 9/27/51	(g)(l)	Commercial MBS		46		37		36
GCAT Trust, Series 2024-NQM1, Class B1, ABS, 8.0%, 1/25/59	(g)(l)	USD CLO		755		737		774
GCAT Trust, Series 2024-NQM1, Class B2, CMO, 8.0%, 1/25/59	(g)(l)	USD CLO		732		708		719
Golub Capital Partners 48 LP, Series 2020-48A, Class D, ABS, S+406, 4/17/33	(g)(l)	USD CLO		250		235		249
Golub Capital Partners CLO 50B-R Ltd., Series 2020-50A, Class CR, ABS, S+235, 4/20/35	(g)(l)	USD CLO		310		289		310
Great Wolf Trust, Series 2024-WOLF, Class F, S+444, 3/15/39	(g)(l)	USD CLO		580		579		581
Great Wolf Trust, Series 2024-WOLF, Class G, S+544, 3/15/39	(g)(l)	USD CLO		900		898		901
Halcyon Loan Advisors Funding Ltd., Series 2015-2A, Class D1R, ABS, S+336, 7/25/27	(g)(l)	USD CLO		423		416		412
Halcyon Loan Advisors Funding Ltd., Series 2015-2A, Class D2R, ABS, S+336, 7/25/27	(g)(l)	USD CLO		279		274		271
Halcyon Loan Advisors Funding Ltd., Series 2018-2A, Class C, ABS, S+366, 1/22/31	(g)(l)	USD CLO		1,555		1,529		1,563
Harvest CLO XII DAC, Series 12X, Class DR, ABS, E+270, 11/18/30	(i)(l)	EUR CLO	€	595		604		644
Harvest CLO XIX DAC, Series 19X, Class D, ABS, E+255, 4/14/31	(i)(l)	EUR CLO		660		689		715

See notes to unaudited consolidated schedule of investments.

15

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Harvest CLO XV DAC, Series 15X, Class DR, ABS, E+275, 11/22/30	(i)(l)	EUR CLO	€	320	$	321	$	348
Harvest CLO XVI DAC, Series 16X, Class CRR, ABS, E+205, 10/15/31	(i)(l)	EUR CLO		870		923		943
Harvest CLO XVIII DAC, Series 18X, Class C, ABS, E+165, 10/15/30	(i)(l)	EUR CLO		1,100		1,114		1,191
Harvest CLO XX DAC, Series 20X, Class DR, ABS, E+310, 10/20/31	(i)(l)	EUR CLO		335		339		363
Harvest CLO XX DAC, Series 20X, Class E, ABS, E+530, 10/20/31	(i)(l)	EUR CLO		520		545		554
Harvest CLO XXII DAC, Series 22X, Class CR, ABS, E+230, 1/15/32	(i)(l)	EUR CLO		235		250		254
Harvest CLO XXIII DAC, Series 23A, Class CE, ABS, E+205, 10/20/32	(g)(l)	EUR CLO		250		250		270
Harvest CLO XXVII DAC, Series 27X, Class D, ABS, E+340, 7/15/34	(i)(l)	EUR CLO		285		275		310
Henley CLO I DAC, Series 1X, Class DR, ABS, E+300, 7/25/34	(i)(l)	EUR CLO		425		410		461
Henley CLO III DAC, Series 3X, Class CR, ABS, E+230, 12/25/35	(i)(l)	EUR CLO		400		414		434
Henley CLO III DAC, Series 3X, Class DR, ABS, E+330, 12/25/35	(i)(l)	EUR CLO		280		292		303
Henley CLO VI DAC, Series 6X, Class D, ABS, E+315, 6/10/34	(i)(l)	EUR CLO		485		491		525
HOMES Trust, Series 2024-NQM1, Class B1B, CMO, 8.1%, 7/25/69	(g)(l)	USD CLO	$	1,395		1,389		1,396
Hotwire Funding LLC, Series 2024-1A, Class C, ABS, 9.2%, 6/20/54	(g)	USD CLO		1,220		1,220		1,264
HPS Loan Management Ltd., Series 13A-18, Class CR, ABS, S+215, 10/15/30	(g)(l)	USD CLO		1,850		1,852		1,850
JMP Credit Advisors CLO IV Ltd., Series 2017-1A, Class D, ABS, S+441, 7/17/29	(g)(l)	USD CLO		330		325		331
JP Morgan Mortgage Trust, Series 2019-INV1, Class B4, CMO, 4.9%, 10/25/49	(g)(l)	USD CLO		392		348		375
Jubilee CLO DAC, Series 2017-19X, Class C, ABS, E+175, 7/25/30	(i)(l)	EUR CLO	€	580		588		620
Jubilee CLO DAC, Series 2021-25A, Class C1, ABS, E+225, 10/15/35	(g)(l)	EUR CLO		285		271		307
Jubilee CLO DAC, Series 2016-17X, Class CR, ABS, E+240, 4/15/31	(i)(l)	EUR CLO		1,050		1,065		1,142
Jubilee CLO DAC, Series 2018-20X, Class D, ABS, E+275, 7/19/31	(i)(l)	EUR CLO		780		779		845
Jubilee CLO DAC, Series 2014-12X, Class DR, ABS, E+290, 4/15/30	(i)(l)	EUR CLO		155		175		169
Jubilee CLO DAC, Series 2021-25X, Class D, ABS, E+320, 10/15/35	(i)(l)	EUR CLO		305		262		331
Jubilee CLO DAC, Series 2014-11X, Class DR, ABS, E+330, 4/15/30	(i)(l)	EUR CLO		305		285		331
Jubilee CLO DAC, Series 2018-21X, Class DR, ABS, E+330, 4/15/35	(i)(l)	EUR CLO		830		817		899
Jubilee CLO DAC, Series 2013-10X, Class DRR, ABS, E+355, 7/15/34	(i)(l)	EUR CLO		175		184		190
Jubilee CLO XXIV DAC, Series 2020-24X, Class D, ABS, E+390, 1/16/34	(i)(l)	EUR CLO		475		508		516
KeyCorp Student Loan Trust, Series 2006-A, Class 2C, ABS, S+141, 3/27/42	(l)	USD CLO	$	3,942		3,340		3,297
LCM XVII LP, Series 17A, Class CRR, ABS, S+236, 10/15/31	(g)(l)	USD CLO		580		550		580
Lehman XS Trust, Series 2007-6, Class 3A2, ABS, 4.3%, 5/25/37		USD CLO		20		21		20
Lehman XS Trust, Series 2007-6, Class 3A4, ABS, 4.3%, 5/25/37		USD CLO		166		170		134

See notes to unaudited consolidated schedule of investments.

16

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Lehman XS Trust, Series 2007-6, Class 3A31, ABS, 4.3%, 5/25/37		USD CLO	$	122	$	124	$	111
Lehman XS Trust, Series 2007-6, Class 3A32, ABS, S+61, 5/25/37	(l)	USD CLO		139		126		127
Lehman XS Trust, Series 2007-14H, Class A22, CMO, S+91, 7/25/47	(l)	USD CLO		185		186		174
Long Point Park CLO Ltd., Series 2017-1A, Class C, ABS, S+266, 1/17/30	(g)(l)	USD CLO		305		290		305
LUX, Series 2023-LION, Class C, S+394, 8/15/40	(g)(l)	Commercial MBS		590		589		597
Madison Park Euro Funding IX DAC, Series 9X, Class DR, ABS, E+320, 7/15/35	(i)(l)	EUR CLO	€	315		267		342
Madison Park Euro Funding VI DAC, Series 6X, Class CRE, ABS, E+200, 10/15/30	(i)(l)	EUR CLO		297		307		323
Madison Park Euro Funding VI DAC, Series 6X, Class CR, ABS, E+200, 10/15/30	(i)(l)	EUR CLO		650		705		704
Madison Park Euro Funding VI DAC, Series 6X, Class DR, ABS, E+290, 10/15/30	(i)(l)	EUR CLO		280		284		303
Madison Park Euro Funding X DAC, Series 10X, Class C1, ABS, E+168, 10/25/30	(i)(l)	EUR CLO		115		107		124
Madison Park Euro Funding XI DAC, Series 11X, Class C, ABS, E+185, 2/15/31	(i)(l)	EUR CLO		850		873		917
Madison Park Euro Funding XI DAC, Series 11X, Class D, ABS, E+280, 2/15/31	(i)(l)	EUR CLO		805		874		872
Madison Park Euro Funding XIII DAC, Series 13X, Class CR, ABS, E+237, 1/15/32	(i)(l)	EUR CLO		355		346		386
Madison Park Funding XIV Ltd., Series 2014-14A, Class DRR, ABS, S+321, 10/22/30	(g)(l)	USD CLO	$	919		891		921
Madison Park Funding XVIII Ltd., Series 2015-18A, Class DR, ABS, S+321, 10/21/30	(g)(l)	USD CLO		250		238		250
Madison Park Funding XX Ltd., Series 2016-20A, Class DR, ABS, S+326, 7/27/30	(g)(l)	USD CLO		675		646		675
Madison Park Funding XXII Ltd., Series 2016-22A, Class CR, ABS, S+226, 1/15/33	(g)(l)	USD CLO		830		780		830
Madison Park Funding XXIV Ltd., Series 2016-24A, Class DR2, ABS, S+295, 10/20/29	(g)(l)	USD CLO		525		525		527
Madison Park Funding XXVII Ltd., Series 2018-27A, Class C, ABS, S+286, 4/20/30	(g)(l)	USD CLO		250		238		251
Madison Park Funding XXVIII Ltd., Series 2018-28A, Class D, ABS, S+296, 7/15/30	(g)(l)	USD CLO		705		671		705
Madison Park Funding XXX Ltd., Series 2018-30A, Class C, ABS, S+196, 4/15/29	(g)(l)	USD CLO		275		266		276
Man GLG Euro CLO III DAC, Series 3X, Class D, ABS, E+330, 10/15/30	(i)(l)	EUR CLO	€	635		706		688
Man GLG Euro CLO IV DAC, Series 4X, Class C, ABS, E+160, 5/15/31	(i)(l)	EUR CLO		485		525		524
Marathon CLO XI Ltd., Series 2018-11A, Class B, ABS, S+206, 4/20/31	(g)(l)	USD CLO	$	1,305		1,303		1,305
Marble Point CLO XXI Ltd., Series 2021-3A, Class D2, ABS, S+524, 10/17/34	(g)(l)	USD CLO		470		464		455
MED Commercial Mortgage Trust, Series 2024-MOB, Class D, S+319, 5/15/41	(g)(l)	USD CLO		500		499		497
MED Commercial Mortgage Trust, Series 2024-MOB, Class E, S+394, 5/15/41	(g)(l)	USD CLO		325		324		323
MidOcean Credit CLO VIII, Series 2018-8A, Class D, ABS, S+316, 2/20/31	(g)(l)	USD CLO		250		239		250
Milltown Park CLO DAC, Series 1A, Class B, ABS, E+180, 1/15/31	(g)(l)	EUR CLO	€	260		261		283
Mountain View CLO LLC, Series 2017-1A, Class D, ABS, S+386, 10/16/29	(g)(l)	USD CLO	$	250		247		250
Multifamily Connecticut Avenue Securities Trust, Series 2024-01, Class M7, CMO, S+275, 7/25/54	(g)(l)	Commercial MBS		200		200		201
Multifamily Connecticut Avenue Securities Trust, Series 2023-01, Class M7, ABS, S+400, 11/25/53	(g)(l)	Commercial MBS		1,943		1,943		2,027

See notes to unaudited consolidated schedule of investments.

17

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Neuberger Berman Loan Advisers CLO 30 Ltd., Series 2018-30A, Class DR, ABS, S+311, 1/20/31	(g)(l)	USD CLO	$	2,160	$	2,143	$	2,167
Neuberger Berman Loan Advisers CLO Ltd., Series 2018-29A, Class C, ABS, S+241, 10/19/31	(g)(l)	USD CLO		1,220		1,203		1,220
Newark BSL CLO 2 Ltd., Series 2017-1A, Class BR, ABS, S+201, 7/25/30	(g)(l)	USD CLO		340		331		340
Oak Hill European Credit Partners IV DAC, Series 2015-4X, Class B1R, ABS, E+120, 1/20/32	(i)(l)	EUR CLO	€	645		665		697
Oak Hill European Credit Partners IV DAC, Series 2015-4X, Class DR, ABS, E+250, 1/20/32	(i)(l)	EUR CLO		540		531		586
Oak Hill European Credit Partners VI DAC, Series 2017-6X, Class C, ABS, E+160, 1/20/32	(i)(l)	EUR CLO		375		406		406
Oaktree CLO Ltd., Series 2019-1A, Class D, ABS, S+406, 4/22/30	(g)(l)	USD CLO	$	575		574		574
OCP CLO Ltd., Series 2014-5A, Class BR, ABS, S+206, 4/26/31	(g)(l)	USD CLO		385		367		385
OCP CLO Ltd., Series 2017-13A, Class CR, ABS, S+336, 7/15/30	(g)(l)	USD CLO		450		422		451
OCP Euro CLO DAC, Series 2017-2X, Class D, ABS, E+275, 1/15/32	(i)(l)	EUR CLO	€	355		318		385
OCP Euro CLO DAC, Series 2022-5A, Class E, ABS, E+647, 4/20/35	(g)(l)	EUR CLO		250		277		274
OHA Credit Funding 4 Ltd., Series 2019-4A, Class CR, ABS, S+231, 10/22/36	(g)(l)	USD CLO	$	250		246		250
OZLM VI Ltd., Series 2014-6A, Class CT, ABS, S+264, 4/17/31	(g)(l)	USD CLO		2,350		2,350		2,358
OZLM XIV Ltd., Series 2015-14A, Class CRR, ABS, S+365, 7/15/34	(g)(l)	USD CLO		465		424		465
OZLM XV Ltd., Series 2016-15A, Class CR, ABS, S+351, 4/20/33	(g)(l)	USD CLO		770		707		755
OZLM XVII Ltd., Series 2017-17A, Class C, ABS, S+372, 7/20/30	(g)(l)	USD CLO		1,840		1,818		1,842
OZLM XXI Ltd., Series 2017-21A, Class C, ABS, S+293, 1/20/31	(g)(l)	USD CLO		810		787		811
OZLM XXII Ltd., Series 2018-22A, Class C, ABS, S+291, 1/17/31	(g)(l)	USD CLO		1,952		1,893		1,952
OZLM XXIV Ltd., Series 2019-24A, Class BR, ABS, S+261, 7/20/32	(g)(l)	USD CLO		295		286		296
OZLM XXIV Ltd., Series 2019-24X, Class C1R, ABS, S+366, 7/20/32	(i)(l)	USD CLO		430		396		431
OZLME IV DAC, Series 4X, Class E, ABS, E+488, 7/27/32	(i)(l)	EUR CLO	€	875		902		949
Parallel Ltd., Series 2017-1A, Class DR, ABS, S+336, 7/20/29	(g)(l)	USD CLO	$	530		518		532
Penta CLO 5 DAC, Series 2018-5X, Class CR, ABS, E+240, 4/20/35	(i)(l)	EUR CLO	€	100		107		108
Penta CLO 5 DAC, Series 2018-5X, Class DR, ABS, E+370, 4/20/35	(i)(l)	EUR CLO		525		523		569
Penta CLO 7 DAC, Series 2020-7X, Class B1, ABS, E+165, 1/25/33	(i)(l)	EUR CLO		205		192		222
Penta CLO 7 DAC, Series 2020-7X, Class D, ABS, E+310, 1/25/33	(i)(l)	EUR CLO		100		101		108
Penta CLO 7 DAC, Series 2020-7X, Class E, ABS, E+534, 1/25/33	(i)(l)	EUR CLO		890		920		950
Penta CLO 8 DAC, Series 2020-8X, Class CR, ABS, E+215, 1/15/34	(i)(l)	EUR CLO		240		246		259
Penta CLO 9 DAC, Series 2021-9A, Class D, ABS, E+310, 7/25/36	(g)(l)	EUR CLO		335		284		362
Polaris PLC, Series 2021-1, Class D, ABS, SONIA+165, 12/23/58	(i)(l)	GBP CLO	£	100		123		128
Polaris PLC, Series 2021-1, Class E, ABS, SONIA+230, 12/23/58	(i)(l)	GBP CLO		100		122		128

See notes to unaudited consolidated schedule of investments.

18

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Preferred Term Securities XXIV Ltd. / Preferred Term Securities XXIV, Inc., Class A2, S+64, 3/22/37	(g)(l)	Diversified Financial Services	$	426	$	347	$	337
Preferred Term Securities XXVI Ltd. / Preferred Term Securities XXVI, Inc., Series A2, S+63, 9/22/37	(g)(l)	Diversified Financial Services		266		223		216
Providus CLO I DAC, Series 1X, Class C1, ABS, E+160, 5/14/31	(i)(l)	EUR CLO	€	225		224		242
Providus CLO II DAC, Series 2X, Class CR, ABS, E+235, 7/15/31	(i)(l)	EUR CLO		540		501		585
Providus CLO III DAC, Series 3X, Class B1RE, ABS, E+165, 7/18/34	(i)(l)	EUR CLO		270		246		292
Providus CLO IV DAC, Series 4X, Class B1R, ABS, E+163, 4/20/34	(i)(l)	EUR CLO		355		366		383
Providus CLO IV DAC, Series 4X, Class DR, ABS, E+325, 4/20/34	(i)(l)	EUR CLO		420		415		454
Providus CLO V DAC, Series 5X, Class D, ABS, E+295, 2/15/35	(i)(l)	EUR CLO		370		381		398
Providus CLO VI DAC, Series 6X, Class D, ABS, E+320, 5/20/34	(i)(l)	EUR CLO		780		759		844
Purple Finance CLO 2 DAC, Series 2X, Class E, ABS, E+640, 4/20/32	(i)(l)	EUR CLO		440		468		479
Rad CLO 4 Ltd., Series 2019-4A, Class DR, ABS, S+325, 4/25/32	(g)(l)	USD CLO	$	1,185		1,185		1,196
Regatta XIV Funding Ltd., Series 2018-3A, Class DR, ABS, S+280, 10/25/31	(g)(l)	USD CLO		1,425		1,425		1,425
RR 4 Ltd., Series 2018-4A, Class C, ABS, S+321, 4/15/30	(g)(l)	USD CLO		1,445		1,414		1,450
RRE 6 Loan Management DAC, Series 6X, Class A2E, ABS, E+140, 4/15/35	(i)(l)	EUR CLO	€	505		444		543
RRE 7 Loan Management DAC, Series 7A, Class A2, ABS, E+160, 1/15/36	(g)(l)	EUR CLO		455		486		491
Santander Bank Auto Credit-Linked Notes, Series 2024-A, Class E, ABS, 7.8%, 6/15/32	(g)	Asset-Backed - Automobile	$	780		780		786
Santander Bank Mortgage Credit-Linked Notes, Series 2023-MTG1, Class M2, ABS, S+490, 2/26/52	(g)(l)	USD CLO		540		572		596
Saranac CLO I Ltd., Series 2013-1A, Class CR, ABS, S+311, 7/26/29	(g)(l)	USD CLO		575		558		580
Sculptor CLO XXIX Ltd., Series 29A, Class D2, ABS, S+513, 10/22/34	(g)(l)	USD CLO		350		310		349
Sculptor European CLO I DAC, Series 1X, Class BRR, ABS, E+160, 4/18/34	(i)(l)	EUR CLO	€	300		275		324
Sculptor European CLO I DAC, Series 1A, Class DRR, ABS, E+350, 4/18/34	(g)(l)	EUR CLO		475		457		515
Sculptor European CLO V DAC, Series 5X, Class E, ABS, E+537, 1/14/32	(i)(l)	EUR CLO		930		985		986
Sculptor European CLO VI DAC, Series 6X, Class CR, ABS, E+230, 10/15/34	(i)(l)	EUR CLO		590		580		637
Shackleton CLO Ltd., Series 2013-3A, Class DR, ABS, S+328, 7/15/30	(g)(l)	USD CLO	$	1,650		1,641		1,653
Shackleton CLO Ltd., Series 2018-12A, Class D, ABS, S+341, 7/20/31	(g)(l)	USD CLO		1,095		1,088		1,094
Shackleton CLO Ltd., Series 2021-16A, Class D2, ABS, S+521, 10/20/34	(g)(l)	USD CLO		1,220		1,202		1,193
Smeralda SPV SARL, 8.8%, 12/22/34	(e)	Commercial MBS	€	2,321		2,602		2,075
Smeralda SPV SARL, Series 2016-C05, Class B, ABS, 8.9%, 12/22/33	(e)	Commercial MBS		276		331		137
Sound Point CLO XXII Ltd., Series 2019-1A, Class CR, ABS, S+251, 1/20/32	(g)(l)	USD CLO	$	835		827		835
Sound Point Euro CLO I Funding DAC, Series 1X, Class DR, ABS, E+305, 5/25/34	(i)(l)	EUR CLO	€	215		208		232
Sound Point Euro CLO II Funding DAC, Series 2X, Class DR, ABS, E+330, 1/26/36	(i)(l)	EUR CLO		605		592		656
Sound Point Euro CLO V Funding DAC, Series 5X, Class C1, ABS, E+225, 7/25/35	(i)(l)	EUR CLO		210		189		227

See notes to unaudited consolidated schedule of investments.

19

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Sound Point Euro CLO VII Funding DAC, Series 7A, Class D, ABS, E+320, 1/25/35	(g)(l)	EUR CLO	€	555	$	547	$	602
Sound Point Euro CLO VII Funding DAC, Series 7X, Class DE, ABS, E+320, 1/25/35	(i)(l)	EUR CLO		675		659		732
St Paul’s CLO IV DAC, Series 4X, Class A2RA, ABS, E+130, 4/25/30	(i)(l)	EUR CLO		1,175		1,265		1,265
St. Paul’s CLO III-R DAC, Series 3RX, Class B1R, ABS, E+115, 1/15/32	(i)(l)	EUR CLO		330		322		353
St. Paul’s CLO III-R DAC, Series 3RX, Class CR, ABS, E+160, 1/15/32	(i)(l)	EUR CLO		425		441		453
St. Paul’s CLO III-R DAC, Series 3RX, Class DR, ABS, E+240, 1/15/32	(i)(l)	EUR CLO		1,090		1,120		1,168
St. Paul’s CLO IV DAC, Series 4X, Class CRRE, ABS, E+270, 4/25/30	(i)(l)	EUR CLO		360		355		388
St. Paul’s CLO IV DAC, Series 4X, Class CRRR, ABS, E+270, 4/25/30	(i)(l)	EUR CLO		755		800		815
St. Paul’s CLO V DAC, Series 5X, Class DR, ABS, E+300, 2/20/30	(i)(l)	EUR CLO		375		403		406
St. Paul’s CLO V DAC, Series 5X, Class ER, ABS, E+515, 2/20/30	(i)(l)	EUR CLO		1,672		1,738		1,754
St. Paul’s CLO VI DAC, Series 6A, Class CRR, ABS, E+260, 5/20/34	(g)(l)	EUR CLO		305		276		331
St. Paul’s CLO VI DAC, Series 6A, Class DRRE, ABS, E+330, 5/20/34	(g)(l)	EUR CLO		520		496		559
St. Paul’s CLO VIII DAC, Series 8X, Class D, ABS, E+245, 7/17/30	(i)(l)	EUR CLO		330		297		356
St. Paul’s CLO X DAC, Series 10X, Class DR, ABS, E+375, 4/22/35	(i)(l)	EUR CLO		600		583		650
St. Paul’s CLO XI DAC, Series 11X, Class C1R, ABS, E+205, 1/17/32	(i)(l)	EUR CLO		495		492		533
St. Paul’s CLO XI DAC, Series 11X, Class DR, ABS, E+305, 1/17/32	(i)(l)	EUR CLO		910		936		972
St. Paul’s CLO XII DAC, Series 12X, Class D, ABS, E+320, 4/15/33	(i)(l)	EUR CLO		865		844		929
Steele Creek CLO Ltd., Series 2017-1A, Class C, ABS, S+216, 10/15/30	(g)(l)	USD CLO	$	250		240		251
Steele Creek CLO Ltd., Series 2014-1RA, Class C, ABS, S+221, 4/21/31	(g)(l)	USD CLO		250		227		250
Stratton Hawksmoor PLC, Series 2022-1A, Class E, ABS, SONIA+200, 2/25/53	(g)(l)	GBP CLO	£	250		303		316
Symphony CLO XIX Ltd., Series 2018-19A, Class D, ABS, S+281, 4/16/31	(g)(l)	USD CLO	$	250		248		247
Symphony CLO XVI Ltd., Series 2015-16A, Class C1RR, ABS, S+220, 10/15/31	(g)(l)	USD CLO		590		590		592
TBW Mortgage-Backed Trust, Series 2006-6, Class A4, CMO, 6.4%, 1/25/37		USD CLO		49		38		35
TCI-Symphony CLO Ltd., Series 2017-1A, Class D, ABS, S+366, 7/15/30	(g)(l)	USD CLO		400		386		401
Terwin Mortgage Trust, Series 2006-6, Class 1A2, ABS, 0.1%, 7/25/37	(g)(l)	USD CLO		45		17		19
THL Credit Wind River CLO Ltd., Series 2018-3A, Class D, ABS, S+321, 1/20/31	(g)(l)	USD CLO		1,090		1,076		1,090
Tiaa CLO III Ltd., Series 2017-2A, Class C, ABS, S+201, 1/16/31	(g)(l)	USD CLO		360		359		360
Tikehau CLO II DAC, Series 2X, Class DRR, ABS, E+340, 9/7/35	(i)(l)	EUR CLO	€	425		388		460
Tikehau CLO III DAC, Series 3X, Class C, ABS, E+185, 12/1/30	(i)(l)	EUR CLO		165		178		176
Tikehau CLO III DAC, Series 3X, Class D, ABS, E+270, 12/1/30	(i)(l)	EUR CLO		220		235		238
Toro European CLO 6 DAC, Series 6X, Class CR, ABS, E+245, 1/12/32	(i)(l)	EUR CLO		400		428		434

See notes to unaudited consolidated schedule of investments.

20

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Towd Point Asset Trust, Series 2018-SL1, Class D1, 0.0%, 1/25/46	(g)(k)	USD CLO	$	2,065	$	1,586	$	1,616
Trinitas Euro CLO II DAC, Series 2A, Class DR, ABS, E+463, 4/15/35	(g)(l)	EUR CLO	€	250		272		271
Trysail CLO Ltd., Series 2021-1A, Class D, ABS, S+393, 7/20/32	(g)(l)	USD CLO	$	1,565		1,565		1,565
Tymon Park CLO DAC, Series 1X, Class CRR, ABS, E+320, 7/21/34	(i)(l)	EUR CLO	€	340		307		366
U.S. Bank NA, Series 2023-1, Class C, ABS, 9.8%, 8/25/32	(g)	Asset-Backed - Automobile	$	317		317		320
Venture 44 CLO Ltd., Series 2021-44A, Class D2, ABS, S+523, 10/20/34	(g)(l)	USD CLO		630		624		615
Venture XVII CLO Ltd., Series 2014-17A, Class CRR, ABS, S+211, 4/15/27	(g)(l)	USD CLO		117		114		117
Venture XVII CLO Ltd., Series 2014-17A, Class DRR, ABS, S+308, 4/15/27	(g)(h)(j)(l)	USD CLO		1,330		1,312		1,331
Venture XXIV CLO Ltd., Series 2016-24A, Class D2, ABS, S+431, 10/20/28	(g)(l)	USD CLO		530		523		530
Verus Securitization Trust, Series 2024-6, Class B1, CMO, 7.2%, 7/25/69	(g)(l)	USD CLO		245		245		246
Verus Securitization Trust, Series 2024-1, Class B1, ABS, 7.9%, 1/25/69	(g)(l)	USD CLO		250		250		256
Verus Securitization Trust, Series 2023-8, Class B1, ABS, 8.1%, 12/25/68	(g)(l)	USD CLO		200		194		206
Verus Securitization Trust, Series 2024-2, Class B2, CMO, 8.7%, 2/25/69	(g)(l)	USD CLO		555		552		564
Vesey Park CLO DAC, Series 1X, Class B, ABS, E+230, 11/16/32	(i)(l)	EUR CLO	€	140		151		152
Vibrant CLO III Ltd., Series 2015-3A, Class CRR, ABS, S+376, 10/20/31	(g)(l)	USD CLO	$	425		421		422
Voya CLO Ltd., Series 2016-1A, Class BR, ABS, S+206, 1/20/31	(g)(l)	USD CLO		499		487		499
Voya CLO Ltd., Series 2019-1A, Class DR, ABS, S+311, 4/15/31	(g)(l)	USD CLO		250		235		250
Voya Euro CLO I DAC, Series 1X, Class D, ABS, E+250, 10/15/30	(i)(l)	EUR CLO	€	475		470		515
Voya Euro CLO II DAC, Series 2X, Class DR, ABS, E+320, 7/15/35	(i)(l)	EUR CLO		610		603		660
Wellfleet CLO Ltd., Series 2017-2A, Class C, ABS, S+366, 10/20/29	(g)(l)	USD CLO	$	395		378		396
WhiteHorse X Ltd., Series 2015-10A, Class E, ABS, S+556, 4/17/27	(g)(l)	USD CLO		289		289		290
Wind River CLO Ltd., Series 2016-1KRA, Class D2R2, ABS, S+538, 10/15/34	(g)(l)	USD CLO		915		904		882
Z Capital Credit Partners CLO Ltd., Series 2019-1A, Class CR, ABS, S+316, 7/16/31	(g)(l)	USD CLO		455		441		455
Zais CLO 5 Ltd., Series 2016-2A, Class C, ABS, S+476, 10/15/28	(g)(l)	USD CLO		510		503		511
Total Collateralized Loan Obligation / Structured Credit						224,683		232,207
Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Convertible Bonds—1.4%
Delivery Hero SE, Series B, 2.1%, 3/10/29	(h)(i)	Internet	$	3,100	$	2,617	$	2,546
Delivery Hero SE, 1.0%, 1/23/27	(h)(i)	Internet		400		371		364
Delivery Hero SE, Series A, 1.0%, 4/30/26	(h)(i)	Internet		1,100		1,083		1,086
Groupon, Inc., 1.1%, 3/15/26	(h)	Internet		6,209		5,275		5,303
Liberty Interactive LLC, 4.0%, 11/15/29	(h)	Media Entertainment		3,707		3,111		1,260
Liberty Interactive LLC, 3.8%, 2/15/30	(h)	Media Entertainment		1,162		945		407
Total Convertible Bonds						13,402		10,966

See notes to unaudited consolidated schedule of investments.

21

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Principal Amount(b)		Amortized Cost		Fair Value(c)
Municipal Bonds—0.5%
City of Detroit, COPs, 4.8%, 6/15/20	(q)(r)	$	185	$	140	$	191
City of Detroit, COPs, 4.9%, 6/15/25	(q)(r)		646		487		666
PRHTA Custodial Trust, Series N, 0.0%, 12/6/49			595		565		324
Puerto Rico Electric Power Authority, Series A, 5.0%, 7/1/29	(q)(r)		440		300		238
Puerto Rico Electric Power Authority, Series A, 5.0%, 7/1/42	(q)(r)		10		7		5
Puerto Rico Electric Power Authority, Series A, 5.1%, 7/1/42	(q)(r)		15		11		8
Puerto Rico Electric Power Authority, Series A, 6.8%, 7/1/36	(q)(r)		445		330		240
Puerto Rico Electric Power Authority, Series A, 7.0%, 7/1/43	(q)(r)		80		53		43
Puerto Rico Electric Power Authority, Series A-3, 10.0%, 7/1/19	(q)(r)		10		8		5
Puerto Rico Electric Power Authority, Series AAA, 5.3%, 7/1/22	(q)(r)		55		35		30
Puerto Rico Electric Power Authority, Series AAA, 5.3%, 7/1/27	(q)(r)		355		233		192
Puerto Rico Electric Power Authority, Series AAA, 5.3%, 7/1/31	(q)(r)		120		78		65
Puerto Rico Electric Power Authority, Series B-3, 10.0%, 7/1/19	(q)(r)		10		8		5
Puerto Rico Electric Power Authority, Series BBB, 5.4%, 7/1/28	(q)(r)		1,690		1,368		913
Puerto Rico Electric Power Authority, Series C-1, 5.4%, 1/1/18	(q)(r)		30		23		16
Puerto Rico Electric Power Authority, Series C-2, 5.4%, 7/1/18	(q)(r)		20		16		11
Puerto Rico Electric Power Authority, Series C-3, 5.4%, 1/1/20	(q)(r)		5		4		3
Puerto Rico Electric Power Authority, Series CCC, 5.0%, 7/1/25	(q)(r)		5		4		3
Puerto Rico Electric Power Authority, Series CCC, 5.0%, 7/1/28	(q)(r)		25		20		13
Puerto Rico Electric Power Authority, Series DDD, 3.8%, 7/1/22	(q)(r)		5		3		3
Puerto Rico Electric Power Authority, Series DDD, 5.0%, 7/1/19	(q)(r)		10		8		5
Puerto Rico Electric Power Authority, Series DDD, 5.0%, 7/1/20	(q)(r)		110		72		59
Puerto Rico Electric Power Authority, Series DDD, 5.0%, 7/1/21	(q)(r)		60		39		32
Puerto Rico Electric Power Authority, Series E-1, 10.0%, 1/1/21	(q)(r)		69		61		37
Puerto Rico Electric Power Authority, Series E-2, 10.0%, 7/1/21	(q)(r)		69		61		37
Puerto Rico Electric Power Authority, Series E-3, 10.0%, 1/1/22	(q)(r)		18		16		10
Puerto Rico Electric Power Authority, Series E-4, 10.0%, 7/1/22	(q)(r)		18		16		10
Puerto Rico Electric Power Authority, Series EEE, 6.0%, 7/1/30	(q)(r)		25		16		13
Puerto Rico Electric Power Authority, Series EEE, 6.3%, 7/1/40	(q)(r)		5		3		3
Puerto Rico Electric Power Authority, Series NN, 5.5%, 7/1/20	(q)(r)		30		21		16
Puerto Rico Electric Power Authority, Series TT, 5.0%, 7/1/20	(q)(r)		5		4		3
Puerto Rico Electric Power Authority, Series TT, 5.0%, 7/1/21	(q)(r)		5		3		3

See notes to unaudited consolidated schedule of investments.

22

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes		Principal Amount(b)		Amortized Cost		Fair Value(c)
Puerto Rico Electric Power Authority, Series TT, 5.0%, 7/1/23	(q)(r)		$	25	$	22	$	13
Puerto Rico Electric Power Authority, Series TT, 5.0%, 7/1/24	(q)(r)			20		16		11
Puerto Rico Electric Power Authority, Series TT, 5.0%, 7/1/25	(q)(r)			80		68		43
Puerto Rico Electric Power Authority, Series TT, 5.0%, 7/1/27	(q)(r)			35		27		19
Puerto Rico Electric Power Authority, Series UU, 0.0%, 7/1/17	(l)(q)(r)			15		10		8
Puerto Rico Electric Power Authority, Series UU, 0.0%, 7/1/18	(l)(q)(r)			15		10		8
Puerto Rico Electric Power Authority, Series UU, 4.4%, 7/1/25	(l)(q)(r)			25		18		14
Puerto Rico Electric Power Authority, Series UU, 4.4%, 7/1/31	(l)(q)(r)			110		80		59
Puerto Rico Electric Power Authority, Series UU, 5.5%, 7/1/20	(l)(q)(r)			110		78		59
Puerto Rico Electric Power Authority, Series V, 5.5%, 7/1/20	(q)(r)			15		12		8
Puerto Rico Electric Power Authority, Series WW, 5.3%, 7/1/33	(q)(r)			380		304		205
Puerto Rico Electric Power Authority, Series WW, 5.5%, 7/1/21	(q)(r)			80		67		43
Puerto Rico Electric Power Authority, Series XX, 5.3%, 7/1/35	(q)(r)			15		10		8
Puerto Rico Electric Power Authority, Series XX, 5.3%, 7/1/40	(q)(r)			75		47		40
Puerto Rico Electric Power Authority, Series YY, 6.1%, 7/1/40	(q)(r)			195		122		105
Puerto Rico Electric Power Authority, Series ZZ, 5.0%, 7/1/17	(q)(r)			15		11		8
Puerto Rico Electric Power Authority, Series ZZ, 5.3%, 7/1/19	(q)(r)			10		6		5
Puerto Rico Electric Power Authority, Series ZZ, 5.3%, 7/1/24	(q)(r)			5		4		3
Puerto Rico Electric Power Authority, Series ZZ, 5.3%, 7/1/25	(q)(r)			5		4		3
Total Municipal Bonds						4,929		3,864
Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)		Amortized Cost		Fair Value(c)
Emerging Markets Debt—0.5%
Petroleos Mexicanos, 6.7%, 2/16/32	(h)	Oil & Gas	$	2,491	$	2,060	$	2,126
Petroleos Mexicanos, 6.8%, 1/23/30	(h)	Oil & Gas		1,842		1,593		1,650
Total Emerging Markets Debt						3,653		3,776
Portfolio Company(a)	Footnotes	Industry		Number of Shares		Cost(b)		Fair Value(c)
Preferred Equity—1.7%
Midwest Veterinary Partners LLC, 12.0%	(e)(s)	Healthcare-Services		1,765		1,730		1,658
Plains All American Pipeline LP, 9.4%, 8/29/24	(e)(m)	Pipelines		444,257		11,405		11,773
Total Preferred Equity						13,135		13,431
Common Equity—0.7%
American Medical Systems Europe BV	(e)(q)	Healthcare-Products		33,515		273		301
ATD New Holdings, Inc.	(q)	Distribution/Wholesale		1,964		36		29

See notes to unaudited consolidated schedule of investments.

23

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Portfolio Company(a)	Footnotes	Industry	Number of Shares		Cost(b)		Fair Value(c)
Endo, Inc.	(e)(g)(q)	Pharmaceuticals	27,117	$	549	$	753
Endo, Inc.	(e)(q)	Pharmaceuticals	70,625		1,428		1,960
Mallinckrodt PLC	(q)	Pharmaceuticals	7,015		293		396
Quorum Health Corp.	(e)(q)	Healthcare-Services	103,798		492		40
Quorum Litigation Trust	(e)(q)(t)	Healthcare-Services	5,357		5		5
Quorum Litigation Trust, Initial Funding	(e)(q)(t)	Healthcare-Services	157,000		—		—
Quorum Litigation Trust, Units	(e)(q)	Healthcare-Services	2,399		2		2
Riverbed Profit Rights	(e)(q)	Technology	5,652		—		—
Solocal Group	(q)	Internet	15,001,858		1,867		54
Superior Energy Equity New 144A	(g)	Oil & Gas	1,228		—		78
Superior Energy Equity New Sec 1145		Oil & Gas	26,721		348		1,697
Utex Industries, Inc.	(q)	Miscellaneous Manufacturing	8,041		240		343
Utex Industries, Inc., Warrants, 12/3/25, Strike $114.76	(e)(q)	Miscellaneous Manufacturing	2,245		2		—
Total Common Equity					5,535		5,658
Portfolio Company(a)	Footnotes	Yield	Number of Shares		Cost(b)		Fair Value(c)
Short-Term Investments—2.8%
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class	(u)	5.21%	22,054,207		22,054		22,054
Total Short-Term Investments					22,054		22,054
TOTAL INVESTMENTS—120.0%				$	933,422		950,738
LIABILITIES IN EXCESS OF OTHER ASSETS—(20.0)%(v)							(158,493	)
NET ASSETS—100.0%						$	792,245

See notes to unaudited consolidated schedule of investments.

24

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Reverse Repurchase Agreements—(7.1)%

Security Description(a)	Principal Amount(b)			Principal Value including Accrued Interest
BNP Paribas 6.0%, agreement dated 5/8/24, to be repurchased on 8/6/24 (collateralized by Life Time, Inc., 8.0% due 4/15/26 (fair value $2,215))	$	(1,998	)	$	(2,026	)
BNP Paribas 6.2%, agreement dated 6/17/24, to be repurchased on 9/16/24 (collateralized by Atrium IX, 7.6% due 5/28/30 (fair value $1,565), Venture XVII CLO Ltd., 8.4% due 4/15/27 and (fair value $1,331))		(2,434	)		(2,453	)
BNP Paribas 6.1%, agreement dated 6/20/24, to be repurchased on 8/1/24 (collateralized by Archrock Partners LP / Archrock Partners Finance Corp., 6.3% due 4/1/28 (fair value $1,729), LCPR Senior Secured Financing DAC, 5.1% due 7/15/29 (fair value $1,192), Newfold Digital Holdings Group, Inc., 11.8% due 10/15/28 (fair value $2,503), Seadrill Finance Ltd., 8.4% due 8/1/30 (fair value $2,682), Service Properties Trust, 5.5% due 12/15/27 (fair value $1,431), Talen Energy Supply LLC, 8.6% due 6/1/30 (fair value $1,649), Viking Cruises Ltd., 7.0% due 2/15/29 (fair value $2,892), and XPO, Inc., 7.1% due 2/1/32 (fair value $1,128))		(2,558	)		(2,576	)
BNP Paribas 6.1%, agreement dated 6/20/24, to be repurchased on 9/20/24 (collateralized by EQM Midstream Partners LP, 6.0% due 7/1/25 (fair value $2,450))		(2,265	)		(2,281	)
BNP Paribas 6.1%, agreement dated 6/24/24, to be repurchased on 9/23/24 (collateralized by BellRing Brands, Inc., 7.0% due 3/15/30 (fair value $1,565))		(1,344	)		(1,353	)
BNP Paribas 6.1%, agreement dated 4/2/24, to be repurchased on 7/2/24 (collateralized by DaVita, Inc., 4.6% due 6/1/30 (fair value $1,684), RingCentral, Inc., 8.5% due 8/15/30 (fair value $1,046))		(2,340	)		(2,352	)
BNP Paribas 6.0%, agreement dated 7/17/24, to be repurchased on 10/17/24 (collateralized by Cloud Software Group, Inc., 9.0% due 9/30/29 (fair value $2,011), Shelf Drilling Holdings Ltd., 9.6% due 4/15/29 (fair value $1,186), Station Casinos LLC, 4.6% due 12/1/31 (fair value $869), and Royal Caribbean Cruises Ltd., 9.3% due 1/15/29 (fair value $1,074))		(4,469	)		(4,480	)
BNP Paribas 6.1%, agreement dated 8/1/24, to be repurchased on 9/20/24 (collateralized by Cloud Software Group, Inc., 6.5% due 3/31/29 (fair value $1,707))		(14,114	)		(14,201	)
Royal Bank of Canada 5.8%, agreement dated 5/13/24, to be repurchased on 8/12/24 (collateralized by Bank of America Corp., 3.4% due 1/23/26 (fair value $7,308))		(6,976	)		(7,066	)
Royal Bank of Canada 6.1%, agreement dated 5/31/24, to be repurchased on 8/30/24 (collateralized by Carnival Holdings Bermuda Ltd., 10.4% due 5/1/28 (fair value $1,268))		(1,021	)		(1,032	)
Royal Bank of Canada 5.8%, agreement dated 10/18/21, to be repurchased on 9/16/24 (collateralized by HCA, Inc., 5.4% due 2/1/25 (fair value $2,152))		(2,083	)		(2,098	)
Royal Bank of Canada 6.1%, agreement dated 7/16/24, to be repurchased on 10/18/24 (collateralized by Cinemark USA, Inc., 5.3% due 7/15/28 (fair value $1,341), Hess Midstream Operations LP, 4.3% due 2/15/30 and (fair value $947))		(1,840	)		(1,845	)
Royal Bank of Canada 6.1%, agreement dated 7/24/24, to be repurchased on 8/12/24 (collateralized by American Airlines, Inc. / Advantage Loyalty IP Ltd., 5.8% due 4/20/29 (fair value $2,641), Carvana Co., 13.0% due 6/1/30 (fair value $1,619), DirecTV Financing LLC, 8.9% due 2/1/30 (fair value $4,815), Olympus Water U.S. Holding Corp., 9.8% due 11/15/28 (fair value $4,012), and Tenet Healthcare Corp., 5.1% due 11/1/27 (fair value $2,977))		(12,790	)		(12,930	)
Total Reverse Repurchase Agreements	$	(56,232	)	$	(56,693	)

Investments Sold Short
Portfolio Company(a)	Footnotes	Industry	Principal Amount(b)			Proceeds			Fair Value(c)
Government Bonds Sold Short—(0.6)%
U.K. Gilts, 0.3%, 7/31/31	(i)	Sovereign	$	(1,292	)	$	(1,262	)	$	(1,303	)
U.S. Treasury Notes, 4.3%, 3/15/27		Sovereign		(389	)		(386	)		(390	)
U.S. Treasury Notes, 4.5%, 4/15/27		Sovereign		(1,565	)		(1,550	)		(1,580	)
U.S. Treasury Notes, 4.6%, 4/30/29		Sovereign		(1,474	)		(1,484	)		(1,518	)
Total Government Bonds Sold Short							(4,682	)		(4,791	)
Total Investments Sold Short						$	(4,682	)	$	(4,791	)

Forward Foreign Currency Exchange Contracts
Counterparty	Contract Settlement Date	Currency and Amount to be Received		Currency and Amount to be Delivered		Unrealized Appreciation		Unrealized Depreciation
BNP Paribas SA	12/18/24	USD	348	EUR	317	$	2	$	—
JPMorgan Chase Bank, N.A.	12/18/24	GBP	1,557	USD	1,986		17		—
JPMorgan Chase Bank, N.A.	12/18/24	GBP	965	USD	1,243		—		2
JPMorgan Chase Bank, N.A.	12/18/24	USD	2,074	EUR	1,890		15		—
JPMorgan Chase Bank, N.A.	12/18/24	USD	487	EUR	444		4		—
JPMorgan Chase Bank, N.A.	12/18/24	USD	3,916	EUR	3,568		29		—
JPMorgan Chase Bank, N.A.	12/18/24	USD	1,690	EUR	1,539		13		—
JPMorgan Chase Bank, N.A.	12/18/24	USD	245	GBP	192		—		2

See notes to unaudited consolidated schedule of investments.

25

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Counterparty	Contract Settlement Date	Currency and Amount to be Received		Currency and Amount to be Delivered		Unrealized Appreciation		Unrealized Depreciation
JPMorgan Chase Bank, N.A.	12/18/24	USD	568	GBP	444	$	—	$	4
JPMorgan Chase Bank, N.A.	12/18/24	USD	1,707	GBP	1,317		13		—
State Street Bank and Trust Company	12/18/24	GBP	1,464	USD	1,876		8		—
State Street Bank and Trust Company	12/18/24	USD	13,114	EUR	11,944		104		—
State Street Bank and Trust Company	12/18/24	USD	2,648	EUR	2,412		21		—
State Street Bank and Trust Company	12/18/24	USD	425	EUR	387		3		—
State Street Bank and Trust Company	12/18/24	USD	1,288	GBP	1,008		—		9
State Street Bank and Trust Company	12/18/24	USD	124	GBP	97		—		1
State Street Bank and Trust Company	12/18/24	USD	1,658	GBP	1,298		—		11
State Street Bank and Trust Company	12/18/24	USD	339	GBP	265		—		2
State Street Bank and Trust Company	12/18/24	USD	1,156	GBP	907		—		11
Total Forward Foreign Currency Exchange Contracts						$	229	$	42

Interest Rate Swaps (Centrally Cleared)
Counterparty	Fund Pays		Fund Receives	Notional Amount	Expiration Date	Periodic Payment Frequency	Fair Value(c)			Unrealized Appreciation		Unrealized Depreciation
Goldman Sachs & Co. LLC	3.77	%	SOFR	USD 1,002	9/3/28	Annually	$	(4	)	$	—	$	4
Goldman Sachs & Co. LLC	3.90	%	SOFR	USD 816	8/23/28	Annually		(7	)		—		7
Goldman Sachs & Co. LLC	4.09	%	SOFR	USD 125	7/22/28	Annually		(2	)		—		2
Goldman Sachs & Co. LLC	4.32	%	SOFR	USD 459	6/7/28	Annually		(9	)		—		9
Goldman Sachs & Co. LLC	3.80	%	SOFR	USD 744	2/26/28	Annually		4			4		—
Goldman Sachs & Co. LLC	3.90	%	SOFR	USD 17	4/22/34	Annually		—			—		—
Goldman Sachs & Co. LLC	4.00	%	SOFR	USD 153	3/21/28	Annually		—			—		—
Goldman Sachs & Co. LLC	4.07	%	SOFR	USD 739	4/25/28	Annually		(6	)		—		6
Goldman Sachs & Co. LLC	4.11	%	SOFR	USD 17	5/16/34	Annually		(1	)		—		1
Goldman Sachs & Co. LLC	4.15	%	SOFR	USD 896	4/19/28	Annually		(9	)		—		9
Goldman Sachs International	2.93	%	SOFR	USD 24	9/28/30	Annually		1			1		—
Goldman Sachs International	2.94	%	SOFR	USD 33	9/28/28	Annually		2			2		—
Goldman Sachs International	2.99	%	SOFR	USD 18	9/20/33	Annually		1			1		—
Goldman Sachs International	3.02	%	SOFR	USD 224	11/2/30	Annually		12			12		—
Goldman Sachs International	3.09	%	SOFR	USD 255	7/18/33	Annually		11			11		—
Goldman Sachs International	3.18	%	SOFR	USD 112	9/15/33	Annually		6			6		—
Goldman Sachs International	3.20	%	SOFR	USD 71	9/15/30	Annually		3			3		—
Goldman Sachs International	3.27	%	SOFR	USD 97	9/15/28	Annually		3			3		—
Goldman Sachs International	3.29	%	SOFR	USD 338	11/25/30	Annually		11			11		—
Goldman Sachs International	2.53	%	SOFR	USD 88	10/18/29	Annually		7			7		—
Goldman Sachs International	2.54	%	SOFR	USD 122	10/18/27	Annually		7			7		—
Goldman Sachs International	2.61	%	ESTRON	EUR 580	10/9/26	Annually		4			4		—
Goldman Sachs International	2.91	%	ESTRON	EUR 819	10/9/25	Annually		5			5		—
Goldman Sachs International	3.16	%	SOFR	USD 50	11/3/30	Annually		2			2		—
Goldman Sachs International	3.33	%	ESTRON	EUR 1,383	10/9/26	Annually		(15	)		—		15
Goldman Sachs International	3.53	%	ESTRON	EUR 2,426	10/9/25	Annually		(7	)		—		7

See notes to unaudited consolidated schedule of investments.

26

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Counterparty	Fund Pays		Fund Receives	Notional Amount	Expiration Date	Periodic Payment Frequency	Fair Value(c)			Unrealized Appreciation		Unrealized Depreciation
Goldman Sachs International	3.94	%	SOFR	USD 65	3/8/31	Annually	$	(1	)	$	—	$	1
Total Interest Rate Swaps (Centrally Cleared)							$	18		$	79	$	61

Cross-Currency Swaps  (Over-The-Counter)

Counterparty

Fund Pays

Fund Receives

Notional Amount of Currency Delivered

Notional Amount of Currency Received

Expiration Date

Periodic Payment Frequency

Fair Value(c)

Unrealized Appreciation

Unrealized Depreciation

JPMorgan Chase Bank, N.A.

ESTRON plus a spread of (0.098%)

SOFR

EUR 10,932

USD 12,009

12/27/26

Quarterly

$

226

$

226

$

—

JPMorgan Chase Bank, N.A.

ESTRON plus a spread of (0.2525%)

SOFR

EUR 9,601

USD 10,519

6/26/26

Quarterly

198

198

—

JPMorgan Chase Bank, N.A.

ESTRON plus a spread of (0.24%)

SOFR

EUR 13,028

USD 14,151

8/25/26

Quarterly

169

169

—

JPMorgan Chase Bank, N.A.

ESTRON plus a spread of (0.2225%)

SOFR

EUR 13,109

USD 11,771

3/27/26

Quarterly

138

138

—

JPMorgan Chase Bank, N.A.

ESTRON plus a spread of (0.215%)

SOFR

EUR 4,000

USD 4,358

4/11/26

Quarterly

51

51

—

JPMorgan Chase Bank, N.A.

ESTRON plus a spread of (0.2475%)

SOFR

EUR 4,924

USD 5,333

3/31/26

Quarterly

36

36

—

JPMorgan Chase Bank, N.A.

ESTRON plus a spread of (0.65%)

SOFR

EUR 6,615

USD 7,155

5/28/27

Quarterly

30

30

—

JPMorgan Chase Bank, N.A.

SONIA plus a spread of (0.01%)

SOFR

GBP 2,859

USD 284

6/17/27

Quarterly

(2

)

—

2

JPMorgan Chase Bank, N.A.

SONIA plus a spread of (0.005%)

SOFR

GBP 1,075

USD 1,370

5/24/27

Quarterly

(10

)

—

10

JPMorgan Chase Bank, N.A.

SONIA plus a spread of (0.15875%)

SOFR

GBP 1,110

USD 1,402

8/29/26

Quarterly

(20

)

—

20

JPMorgan Chase Bank, N.A.

SONIA plus a spread of (0.044%)

SOFR

GBP 22,760

USD 2,834

4/26/27

Quarterly

(89

)

—

89

JPMorgan Chase Bank, N.A.

ESTRON plus a spread of (0.185%)

SOFR

EUR 14,994

USD 16,014

3/8/26

Quarterly

(124

)

—

124

JPMorgan Chase Bank, N.A.

SONIA plus a spread of (0.12%)

SOFR

GBP 1,879

USD 2,281

10/20/26

Quarterly

(135

)

—

135

JPMorgan Chase Bank, N.A.

3 Month SONIA plus a spread of (0.183%)

SOFR

GBP 4,590

USD 3,843

12/6/25

Quarterly

(184

)

—

184

JPMorgan Chase Bank, N.A.

SONIA plus a spread of (0.9%)

SOFR

GBP 5,395

USD 6,110

4/21/26

Quarterly

(197

)

—

197

JPMorgan Chase Bank, N.A.

3 Month SONIA plus a spread of (0.925%)

SOFR

GBP 2,743

USD 3,278

3/6/26

Quarterly

(242

)

—

242

JPMorgan Chase Bank, N.A.

3 Month ESTRON plus a spread of (0.255%)

SOFR

EUR 11,312

USD 11,844

12/6/25

Quarterly

(325

)

—

325

See notes to unaudited consolidated schedule of investments.

27

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

Counterparty	Fund Pays	Fund Receives	Notional Amount of Currency Delivered	Notional Amount of Currency Received	Expiration Date	Periodic Payment Frequency	Fair Value(c)			Unrealized Appreciation		Unrealized Depreciation
JPMorgan Chase Bank, N.A.	ESTRON plus a spread of (0.1975%)	SOFR	EUR 27,724	USD 27,846	1/9/26	Quarterly	$	(664	)	$	—	$	664
Total Cross-Currency Swaps  (Over-The-Counter)							$	(1,144	)	$	848	$	1,992

Credit Default Swaps (Centrally Cleared)
Counterparty	Notional Amount	Expiration Date	Periodic Payment Frequency		Fair Value(c)			Unrealized Appreciation		Unrealized Depreciation
Merrill Lynch, Pierce, Fenner & Smith Inc.	USD 4,830	3/20/25	Quarterly	$	(17	)	$	—	$	17
Total Credit Default Swaps (Centrally Cleared)				$	(17	)	$	—	$	17

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

(b) Denominated in U.S. dollars unless otherwise noted.

(c) Fair value is determined by FS Credit Income Fund’s (the “Fund”) investment adviser, FS Credit Income Advisor, LLC (“FS Credit Income Advisor’”), which has been designated by the Fund’s board of trustees (the “Board”) as its valuation designee. For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent audited financial statements.

(d) Certain variable rate securities in the Fund’s portfolio bear interest at a rate determined by a publicly disclosed base rate plus a basis point spread. As of July 31, 2024, the one-month, three-month and six-month London Interbank Offered Rate (“LIBOR” or “L”) was 5.46%, 5.50% and 5.50%, respectively, the one-month, three-month and six-month Euro Interbank Offered Rate (“EURIBOR” or “E”) was 3.60%, 3.59% and 3.38%, respectively, the Sterling Overnight Index Average (“SONIA”) was 5.20%, and the one-month, three-month and six-month Secured Overnight Financing Rate (“SOFR” or “S”) was 5.34%, 5.24% and 5.08%, respectively, and the Euro Short-Term Rate Volume Weighted Trimmed Mean Rate (“ESTRON”) was 3.65%. SOFR based contracts may include a credit spread adjustment that is charged in addition to the base rate and basis point spread.

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

(f) All or a portion of this security is an unfunded commitment. As of July 31, 2024, the Fund had unfunded commitments of $3,093.

(g) Exempt from registration under Rule 144A of the Securities Act of 1933, as amended. Such securities may be deemed liquid by FS Credit Income Advisor and may be resold, normally to qualified institutional buyers in transactions exempt from registration. Total market value of Rule 144A securities amounts to $427,226, which represents approximately 53.9% of net assets as of July 31, 2024.

(h) Security or portion thereof is pledged as collateral supporting the amounts outstanding under the prime brokerage facility with BNP Paribas Prime Brokerage International, Ltd. (“BNP”). Securities may be rehypothecated from time to time as permitted under Rule 15c-1(a)(1) promulgated under the Securities Exchange Act of 1934, as amended, subject to terms and conditions governing the prime brokerage facility with BNP. As of July 31, 2024, there were no securities rehypothecated by BNP.

(i) Exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. Total market value of Regulation S securities amounts to $127,219, which represents approximately 16.1% of net assets as of July 31, 2024.

(j) Security or portion thereof is pledged as collateral supporting the amounts outstanding under the reverse repurchase agreement.

(k) Issued with a zero coupon. Income is recognized through the accretion of discount.

(l) Variable or floating rate security for which the interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end.

(m) The security has a perpetual maturity; the date displayed is the next call date.

(n) Position or portion thereof unsettled as of July 31, 2024.

(o) Issuer of the security is an affiliate of the Fund’s investment sub-adviser, GoldenTree Sub-Advisor.

(p) Security is reflected in shares.

(q) Security is non-income producing.

(r) Security is in default.

(s) Security held within FS Credit Income Equity Blocker, LLC, a wholly-owned subsidiary of the Fund.

(t) Number of shares for this security reflects the dollar amount of contributions made to the investment.

(u) Rate represents the seven-day yield as of July 31, 2024.

See notes to unaudited consolidated schedule of investments

28

FS Credit Income Fund

Unaudited Consolidated Schedule of Investments (continued)

As of July 31, 2024

(in thousands, except share amounts)

(v) Includes the effect of investments sold short, forward foreign currency exchange contracts, swap contracts and reverse repurchase agreements payable.

PIK - Payment In Kind

ABS - Asset Backed Security

CLO - Collateralized Loan Obligation

CMO - Collateralized Mortgage Obligation

COP - Certificates of Participation

EUR - Euro

FRN - Floating Rate Note

GBP - British Pound

MBS - Mortgage-Backed Security

USD - U.S. Dollar

£ - British Pound

€ - Euro

$ - U.S. Dollar

See notes to unaudited consolidated schedule of investments

29

FS Credit Income Fund

Notes to Unaudited Consolidated Schedule of Investments

As of July 31, 2024

(in thousands)

Investment Portfolio

The information contained in this section should be read in conjunction with the Fund’s audited consolidated financial statements contained in its annual report for the fiscal year ended October 31, 2023.

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

As of July 31, 2024, the Fund did not “control” any of its portfolio companies and was not an “affiliated person” of any of its portfolio companies, each as defined in the 1940 Act.

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

The Fund classifies the inputs used to measure these fair values into the following hierarchy as defined by current accounting guidance:

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

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

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

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

As of July 31, 2024, the Fund’s investments and derivatives were categorized as follows in the fair value hierarchy:

Asset Description	Level 1		Level 2			Level 3		Total
Senior Secured Loans—First Lien	$	—	$	133,360		$	44,269	$	177,629
Senior Secured Loans—Second Lien		—		22,884			138		23,022
Senior Secured Bonds		—		157,410			—		157,410
Unsecured Bonds		—		299,916			805		300,721
Collateralized Loan Obligation (CLO) / Structured Credit		—		229,605			2,602		232,207
Convertible Bonds		—		10,966			—		10,966
Municipal Bonds		—		3,864			—		3,864
Emerging Markets Debt		—		3,776			—		3,776
Preferred Equity		—		—			13,431		13,431
Common Equity		54		2,543			3,061		5,658
Short-Term Investments		—		22,054			—		22,054
Total Investments		54		886,378			64,306		950,738
Forward Foreign Currency Exchange Contracts		—		229			—		229
Interest Rate Swaps		—		79			—		79
Cross-Currency Swaps		—		848			—		848
Total Assets	$	54	$	887,534		$	64,306	$	951,894
Liability Description
Reverse Repurchase Agreements	$	—	$	(56,693	)	$	—	$	(56,693	)
Government Bonds Sold Short		—		(4,791	)		—		(4,791	)
Forward Foreign Currency Exchange Contracts		—		(42	)		—		(42	)
Interest Rate Swaps		—		(61	)		—		(61	)
Cross-Currency Swaps		—		(1,992	)		—		(1,992	)
Credit Default Swaps		—		(17	)		—		(17	)
Total Liabilities	$	—	$	(63,596	)	$	—	$	(63,596	)

30

FS Credit Income Fund

Notes to Unaudited Consolidated Schedule of Investments

As of July 31, 2024

(in thousands)

The following is a reconciliation for the nine months ended July 31, 2024 of investments for which significant unobservable inputs (Level 3) were used in determining fair value:

	Senior Secured Loans— First Lien			Senior Secured Loans— Second Lien			Senior Secured Bonds			Unsecured Bonds		Collateralized Loan Obligation (CLO)/ Structured Credit			Preferred Equity			Common Equity			Total
Fair value at beginning of period	$	33,608		$	2,897		$	3,996		$	805	$	2,501		$	4,319		$	80		$	48,206
Accretion of discount (amortization of premium)		139			3			93			—		—			—			—			235
Realized gain (loss)		(1	)		53			37			—		(9	)		211			—			291
Net change in unrealized appreciation (depreciation)		694			(49	)		135			—		371			429			727			2,307
Purchases		14,688			3			—			—		—			8,877			2,265			25,833
Sales		(4,859	)		(2,769	)		(4,261	)		—		(261	)		(405	)		(11	)		(12,566	)
Transfers into Level 3(1)		—			—			—			—		—			—			—			—
Transfers out of Level 3(1)		—			—			—			—		—			—			—			—
Fair value at end of period	$	44,269		$	138		$	—		$	805	$	2,602		$	13,431		$	3,061		$	64,306
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date	$	714		$	—		$	—		$	—	$	371		$	436		$	773		$	2,294

⁽¹⁾ Transfers into or out of Level 3 were deemed to have occurred as a result of, among other factors, changes in liquidity, the depth and consistency of prices from third-party pricing services and the existence of observable trades in the market. Transfers between levels of the fair value hierarchy are deemed to have occurred at the beginning of the reporting year. For the nine months ended July 31, 2024, there were no transfers in or out of Level 3.

The following is a reconciliation for the nine months ended July 31, 2024 of the interest rate swaps and total return debt swaps for which significant unobservable inputs (Level 3) were used in determining fair value:

	Total Return Debt Swaps
Fair value at beginning of period	$	(325	)
Accretion of discount (amortization of premium)		—
Realized gain (loss)		(86	)
Net change in unrealized appreciation (depreciation)		325
Sales and repayments		86
Fair value at end of period	$	—
The amount of total gains or losses for the period included in changes in net assets attributable to the change in unrealized gains or losses relating to investments still held at the reporting date	$	—

31