| CIM Real Assets & Credit Fund | Consolidated Schedule of Investments |
| June 30, 2024 (Unaudited) |
| Cost Basis $ | Fair Value | |||||||||||||
| Common Stock - 3.16% | ||||||||||||||
| Private - 2.81% | ||||||||||||||
| 212,208 | Avison Young Common Equity (a),(e) | $ | — | |||||||||||
| 213,549 | Avison Young Pref. Equity (a),(n) | — | ||||||||||||
| 581,958 | Boca Homecare Holdings, Inc. (Equity) (a),(b),(c),(e) | 331,788 | ||||||||||||
| 155,086 | CGA Holdings, Inc., Class A (a),(b),(c) | 158,519 | ||||||||||||
| 3,772,723 | IENTC 1, LLC (a),(c),(d),(e) | 7,884,081 | ||||||||||||
| 8,374,388 | ||||||||||||||
| Shares | ||||||||||||||
| Real Estate Investment Trust - 0.35% | ||||||||||||||
| 388,344 | Creative Media & Community Trust Corp. (f) | 1,044,645 | ||||||||||||
| Total Common Stock (Cost $7,773,800) | 9,419,033 | |||||||||||||
| Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | |||||||||||
| Bank Loans - 17.03% | ||||||||||||||
| Consumer Non-Cyclical - 0.61% | ||||||||||||||
| 1,026,443 | MedMark Services, Inc., Delayed Draw Term Loan (a),(g) | 3M SOFR + 8.500% | 14.152 | 6/11/2028 | 1,026,443 | |||||||||
| 500,000 | Bengal Debt Merger SUB, LLC Term Loan 1L (g) | 3M SOFR + 6.000% | 11.490 | 1/24/2030 | 406,805 | |||||||||
| 378,788 | MedMark Services, Inc., Second Lien Term Loan (a),(g) | 3M SOFR + 8.500% | 14.152 | 6/11/2028 | 378,788 | |||||||||
| 1,812,036 | ||||||||||||||
| Financial Services - 0.67% | ||||||||||||||
| 1,988,548 | PSB Group, LLC, Term Loan (Last Out) - May 2023 (a),(b),(c),(g) | 3M SOFR + 7.636% | 13.224 | 9/17/2026 | 2,008,434 | |||||||||
| Financials - 0.12% | ||||||||||||||
| 141,389 | Avison Young Canada, Inc., First Out Term Loan (a),(g) | 3M SOFR + 7.500% | 12.830 | 3/13/2028 | 138,136 | |||||||||
| 250,527 | Avison Young Canada, Inc., 2nd PIK Term Loan (a),(g) | 3M SOFR + 8.000% | 13.330 | 3/12/2029 | 216,210 | |||||||||
| 84,383 | Avison Young Canada, Inc., 3rd PIK Lien Term Loan (a),(g),(n) | 3M SOFR + 8.000% | — | 3/12/2029 | 7,529 | |||||||||
| 361,875 | ||||||||||||||
| Food Products - 0.25% | ||||||||||||||
| 833,333 | BCPE North Star US Holdco 2, Inc. 2L Term Loan (a),(g) | 1M SOFR + 7.250% | 12.680 | 6/8/2029 | 752,083 | |||||||||
| Health Care Equipment & Supplies - 0.72% | ||||||||||||||
| 163,043 | Kreg LLC, Revolver (a),(b),(c),(g),(h) | 3M SOFR + 6.250% | 0.500 | 12/20/2026 | 152,446 | |||||||||
| 2,116,681 | Kreg LLC, Term Loan (a),(b),(c),(g) | 3M SOFR + 4.250% | 12.235 | 12/20/2026 | 1,979,097 | |||||||||
| 2,131,543 | ||||||||||||||
| Health Care Providers & Services - 7.78% | ||||||||||||||
| 580,645 | Boca Home Care Holdings Revolver (a),(b),(c),(g),(h) | 1M SOFR + 6.500% | 1.000 | 2/25/2027 | 567,290 | |||||||||
| 4,759,839 | Boca Home Care Holdings, Inc Delayed Draw Term Loan (a),(b),(c),(g) | 1M SOFR + 6.500% | 12.140 | 2/25/2027 | 4,650,362 | |||||||||
| 881,148 | CVAUSA Management, LLC Primary Delayed Draw Term Loan (a),(b),(c),(g),(h) | 3M SOFR + 6.500% | 1.000 | 1/31/2025 | 885,554 | |||||||||
| 368,852 | CVAUSA Management, LLC Secondary Delayed Draw Term Loan (a),(b),(c),(g),(h) | 3M SOFR + 6.500% | 1.000 | 1/31/2025 | 370,697 | |||||||||
| 285,714 | CVAUSA Management, LLC, Revolver, Term Loan (a),(b),(c),(g),(h) | 3M SOFR + 6.500% | 0.500 | 5/22/2028 | 285,714 | |||||||||
| 2,446,870 | CVAUSA Management, LLC, Term Loan (a),(b),(c),(g) | 6M SOFR + 6.500% | 11.550 | 5/22/2029 | 2,459,104 | |||||||||
| 709,308 | Honor HN Buyer, Inc. Delayed Draw Term Loan 1 (a),(b),(c),(g) | 3M SOFR + 5.750% | 11.290 | 10/15/2027 | 709,308 | |||||||||
| 132,013 | Honor HN Buyer, Inc. Revolver (a),(b),(c),(g),(h) | Prime + 4.750% | 13.250 | 10/15/2027 | 132,013 | |||||||||
| 1,121,693 | Honor HN Buyer, Inc. Term Loan (a),(b),(c),(g) | 3M SOFR + 5.750% | 11.290 | 10/15/2027 | 1,121,693 | |||||||||
| 788,062 | Honor HN Buyer, Inc. Delayed Draw Term Loan 2 (a),(b),(c),(g),(h) | 3M SOFR + 5.750% | 11.540 | 10/15/2027 | 788,062 | |||||||||
| 1,485,638 | MEDRINA, LLC Term Loan (a),(b),(c),(g) | 6M SOFR + 6.250% | 11.670 | 10/20/2029 | 1,479,696 | |||||||||
| 297,872 | MEDRINA, LLC Delayed Draw Term Loan (a),(b),(c),(g),(h) | 3M SOFR + 6.250% | 1.000 | 10/20/2029 | 296,681 | |||||||||
| 212,766 | MEDRINA, LLC Revolver (a),(b),(c),(g),(h) | 3M SOFR + 6.250% | 0.005 | 10/20/2029 | 211,915 | |||||||||
| 333,333 | One GI Intermediate LLC, Revolver Upsize (a),(b),(c),(g) | 1M SOFR + 6.750% | 12.166 | 12/22/2025 | 322,667 | |||||||||
| 1,710,625 | One GI Intermediate LLC, Tranche B Delayed Draw Term Loan (a),(b),(c),(g) | 1M SOFR + 6.750% | 12.166 | 12/22/2025 | 1,655,885 | |||||||||
| 901,450 | One GI Intermediate LLC, Tranche C Delayed Draw Term Loan (a),(b),(c),(g) | 1M SOFR + 6.750% | 12.166 | 12/22/2025 | 872,604 | |||||||||
| 147,059 | Shiftkey, Revolver (a),(b),(c),(g),(h) | 3M SOFR + 5.750% | 0.005 | 6/21/2027 | 144,551 | |||||||||
| 2,311,765 | Shiftkey, Term Loan (a),(b),(c),(g) | 3M SOFR + 5.750% | 11.402 | 6/21/2027 | 2,272,349 | |||||||||
| 3,949,398 | Spectrum Vision Partners, LLC (a),(b),(c),(g) | 3M SOFR + 6.500% | 12.152 | 11/18/2024 | 3,941,499 | |||||||||
| 23,167,644 | ||||||||||||||
| Hotels, Restaurants & Leisure - 1.49% | ||||||||||||||
| 1,440,000 | SS Acquisition LLC, Delayed Draw Term Loan (a),(b),(c),(g) | 1M SOFR + 7.591% | 12.969 | 12/30/2026 | 1,440,000 | |||||||||
| 3,000,000 | SS Acquisition LLC, Term Loan (a),(b),(c),(g) | 3M SOFR + 6.728% | 12.267 | 12/30/2026 | 3,000,000 | |||||||||
| 4,440,000 | ||||||||||||||
| CIM Real Assets & Credit Fund | Consolidated Schedule of Investments |
| June 30, 2024 (Unaudited) (Continued) |
| Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
| Bank Loans - 17.03% (Continued) | ||||||||||||||
| Industrial - 0.85% | ||||||||||||||
| 2,475,000 | AIDC Intermediate Co. 2, LLC, Term Loan (a),(b),(c),(g) | 3M SOFR + 6.250% | 11.746 | 7/22/2027 | $ | 2,475,000 | ||||||||
| 51,487 | AIDC Intermediate Co. 2, Incremental Term Loan (a),(b),(c),(g) | 3M SOFR + 6.250% | 11.770 | 7/22/2027 | 51,487 | |||||||||
| 2,526,487 | ||||||||||||||
| Services - 2.56% | ||||||||||||||
| 4,254,348 | 24 Seven, Inc., Term Loan (a),(b),(c),(g) | 1M SOFR + 6.000% | 11.320 | 11/16/2027 | 4,165,007 | |||||||||
| 50,857 | City Brewing Company, LLC Term Loan (a),(g) | 3M SOFR + 6.250% | 8.828 | 4/5/2028 | 51,620 | |||||||||
| 3,443,494 | EOS-Metasource Intermediate, Inc., Term Loan (a),(b),(c),(g) | 3M SOFR + 6.250% | 11.681 | 5/17/2027 | 3,398,729 | |||||||||
| 7,615,356 | ||||||||||||||
| Technology - 1.43% | ||||||||||||||
| 2,977,500 | Exponential Power, Inc., Term Loan (a),(b),(c),(g) | 3M SOFR + 6.750% | 12.150 | 5/12/2026 | 2,301,608 | |||||||||
| 800,000 | Redstone HoldCo 2 LP, Second Lien Initial Term Loan (a),(g) | 3M SOFR + 7.750% | 13.183 | 4/27/2029 | 656,000 | |||||||||
| 327,714 | RumbleON, Inc. Delay Draw Term Loan (a),(b),(c),(g) | 3M SOFR + 8.250% | 13.902 | 8/31/2026 | 304,774 | |||||||||
| 1,083,241 | RumbleON, Inc. Term Loan (a),(b),(c),(g) | 3M SOFR + 8.250% | 13.902 | 8/31/2026 | 1,007,414 | |||||||||
| 4,269,796 | ||||||||||||||
| Transportation - 0.55% | ||||||||||||||
| 2,151,220 | Reception Purchaser, LLC (a),(g) | 3M SOFR + 6.000% | 11.540 | 3/24/2028 | 1,634,927 | |||||||||
| Total Bank Loans (Cost $52,526,759) | 50,720,181 | |||||||||||||
| Collateralized Loan Obligations - Debt - 23.35% | ||||||||||||||
| 1,000,000 | Allegro CLO XII, Ltd., 2020-1A, Class E (b),(g),(i) | 3M SOFR+ 7.100% | 12.686 | 1/21/2032 | 1,006,553 | |||||||||
| 4,000,000 | Atlas Senior Loan Fund Ltd., 2022-20A, Class E (b),(g),(i) | 3M SOFR + 9.430% | 14.757 | 10/19/2035 | 4,174,781 | |||||||||
| 2,000,000 | Atlas Senior Loan Fund Ltd., 2024-23A, Class E (g),(i) | 3M SOFR + 7.130% | 12.467 | 7/20/2037 | 1,955,000 | |||||||||
| 2,450,000 | Bardin Hill CLO Ltd., 2021 2A, Class E (g),(i) | 3M SOFR + 7.962% | 13.285 | 10/25/2034 | 2,453,145 | |||||||||
| 1,000,000 | Barings Middle Market CLO, Ltd. 2021-I, Class D (g),(i) | 3M SOFR+ 8.650% | 14.236 | 7/20/2033 | 1,002,110 | |||||||||
| 2,000,000 | Birch Grove CLO Ltd., 2019A, Class ERR (g),(i) | 3M SOFR + 6.940% | 12.267 | 7/17/2037 | 1,980,000 | |||||||||
| 430,442 | Brightwood Capital MM CLO Ltd., 2023-1A, Class D (g),(i) | 3M SOFR + 6.460% | 11.821 | 10/15/2035 | 431,326 | |||||||||
| 1,003,974 | Brightwood Capital MM CLO Ltd., 2023-1A, Class E (g),(i) | 3M SOFR + 10.360% | 15.721 | 10/15/2035 | 1,018,046 | |||||||||
| 4,250,000 | Carlyle US CLO Ltd., 2022-4, Class E (g),(i) | 3M SOFR + 8.150% | 13.474 | 7/22/2034 | 4,089,505 | |||||||||
| 2,000,000 | Carlyle Global Market Strategies 2022-6A, Class ER (g),(i) | 3M SOFR + 7.900% | 13.224 | 10/25/2036 | 2,063,230 | |||||||||
| 5,285,000 | CFIP CLO Ltd., 2017-1A, Class ER (g),(i) | 3M SOFR+ 7.300% | 12.889 | 10/18/2034 | 5,191,529 | |||||||||
| 9,100,000 | Elevation CLO Ltd., 2022-16, Class E (g),(i) | 3M SOFR + 8.300% | 13.624 | 7/25/2034 | 9,233,606 | |||||||||
| 1,000,000 | Empower CLO Ltd., 2022-1, Class E (g),(i) | 3M SOFR + 8.550% | 13.875 | 10/20/2034 | 1,031,845 | |||||||||
| 500,000 | Flatiron CLO Ltd., 2020-1A, Class ER (g),(i) | 3M SOFR + 6.400% | 11.731 | 5/20/2036 | 504,364 | |||||||||
| 2,000,000 | Ivy Hill Middle Market Credit Fund XVIII, Ltd., 2018A, Class E (g),(i) | 3M SOFR+ 7.750% | 13.362 | 4/22/2033 | 1,909,642 | |||||||||
| 1,250,000 | LCM Ltd. Partnership 31A, Class E (g),(i) | 3M SOFR + 7.080% | 12.666 | 1/20/2032 | 1,253,699 | |||||||||
| 5,500,000 | LCM Ltd. Partnership 38A, Class E (g),(i) | 3M SOFR + 7.730% | 13.059 | 10/15/2036 | 5,640,639 | |||||||||
| 2,500,000 | MCF CLO LLC, 2017-3A, Class ER (g),(i) | 3M SOFR + 9.150% | 14.736 | 7/20/2033 | 2,513,204 | |||||||||
| 3,500,000 | Monroe Capital MML CLO X, LLC., 2020-1A, Class ER (b),(g),(i) | 3M SOFR + 8.750% | 14.076 | 5/20/2034 | 3,460,355 | |||||||||
| 2,250,000 | Northwoods Capital Ltd. 2021-25A, Class E (g),(i) | 3M SOFR + 7.140% | 12.726 | 7/20/2034 | 2,268,758 | |||||||||
| 3,000,000 | PennantPark CLO 2021-3A, Class E (g),(i) | 3M SOFR + 8.140% | 13.726 | 10/22/2032 | 2,932,424 | |||||||||
| 2,000,000 | PPM CLO Ltd. ,2022-6AR, Class ER (g),(i) | 3M SOFR + 8.960% | 14.314 | 1/20/2037 | 2,090,842 | |||||||||
| 7,000,000 | Regatta XXII Funding, Ltd.,2022-2A, Class E (b),(g),(i) | 3M SOFR + 7.190% | 12.515 | 7/20/2035 | 7,075,461 | |||||||||
| 2,000,000 | Saratoga Investment Corp. CLO Ltd., 2013-1, Class F1R3 (g),(i) | 3M SOFR+ 10.000% | 15.586 | 4/20/2033 | 1,763,817 | |||||||||
| 3,000,000 | Venture CDO, Ltd., 2022-45A, Class E (b),(g),(i) | 3M SOFR + 7.700% | 13.025 | 7/20/2035 | 2,520,259 | |||||||||
| Total Collateralized Loan Obligations - Debt (Cost $68,118,787) | 69,564,140 | |||||||||||||
| CIM Real Assets & Credit Fund | Consolidated Schedule of Investments |
| June 30, 2024 (Unaudited) (Continued) |
| Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
| Collateralized Loan Obligations - Equity -9.69% | ||||||||||||||
| 4,060,000 | Allegro CLO Ltd., 2022-1A, Class SUB (a),(b),(i),(j) | 21.341 | 7/20/2035 | 2,820,076 | ||||||||||
| 2,980,000 | Apex Credit CLO LLC 2021-1A, Class SUB (a),(b),(i),(j) | 22.976 | 7/18/2034 | 1,958,754 | ||||||||||
| 3,000,000 | Atlas Senior Loan Fund Ltd., 2021-17A, Class SUB (a),(b),(i),(j) | 21.351 | 10/20/2034 | 1,579,200 | ||||||||||
| 2,585,233 | Brightwood Capital MM CLO Ltd., 2023-1A, Class Sub1 (a),(b),(i),(j) | 13.556 | 10/15/2035 | 2,145,227 | ||||||||||
| 5,500,000 | Dryden Senior Loan Fund 2022-98A, Class SUB (a),(b),(i),(j) | 18.264 | 4/20/2035 | 3,752,375 | ||||||||||
| 3,750,000 | Elevation CLO Ltd., 2018-3A, Class SUB (a),(b),(i),(j) | 6.109 | 1/5/2035 | 1,477,881 | ||||||||||
| 4,396,000 | Empower CLO Ltd., 2024-1A Class SUB (a),(b),(i),(j) | 15.068 | 4/25/2037 | 3,469,103 | ||||||||||
| 7,650,000 | Empower CLO Ltd., 2024-2A, Class SUB (a),(b).(i),(j) | 15.156 | 7/15/2037 | 6,374,997 | ||||||||||
| 250,000 | LCM Ltd. Partnership 2031A, Class INC (a),(b),(i),(j) | 10.807 | 1/20/2032 | 102,250 | ||||||||||
| 2,750,000 | Marble Point CLO XXI, Ltd., 2021-3A, Class INC (a),(b),(i),(j) | 14.628 | 10/17/2051 | 1,590,875 | ||||||||||
| 5,000,000 | Steele Creek CLO Ltd., 2022-1, Class SUB (a),(b),(i),(j) | 20.560 | 4/15/2035 | 3,131,220 | ||||||||||
| 2,300,000 | Trinitas CLO Ltd., 2018-8A, Class SUB (a),(b),(i),(j) | 2.825 | 7/20/2117 | 458,965 | ||||||||||
| Total Collateralized Loan Obligations - Equity (Cost $34,141,550) | 28,860,923 | |||||||||||||
| Commercial Mortgage-Backed Securities - 18.75% | ||||||||||||||
| 391,000 | BPR Trust 2021-TY, Class D (g),(i) | 1M SOFR + 2.464% | 7.781 | 9/15/2038 | 380,054 | |||||||||
| 1,595,980 | BX Trust 2022-PSB, Class E (g),(i) | 1M SOFR + 6.337% | 11.666 | 8/15/2039 | 1,610,374 | |||||||||
| 3,191,960 | BX Trust 2022-PSB, Class F (g),(i) | 1M SOFR + 7.333% | 12.662 | 8/15/2039 | 3,230,081 | |||||||||
| 3,000,000 | BXSC Commercial Mortgage Trust 2022-WSS, Class F (g),(i) | 1M SOFR + 5.329% | 10.658 | 3/15/2035 | 2,989,102 | |||||||||
| 4,017,883 | Campus Drive Secured Lease-Backed Pass-Though Trust, Series C (a),(i) | 6.912 | 6/15/2058 | 2,458,944 | ||||||||||
| 4,500,000 | CXP Trust 2022-CXP1, Class E (a),(i),(n) | 0.019 | 12/15/2038 | 2,250,000 | ||||||||||
| 1,500,000 | CXP Trust 2022-CXP1, Class F (a),(i),(n) | 0.019 | 12/15/2038 | 238,950 | ||||||||||
| 8,960,976 | Extended Stay America Trust 2021-ESH, Class F (g),(i) | 1M SOFR + 3.814% | 9.131 | 7/15/2038 | 8,958,769 | |||||||||
| 2,500,000 | HTL Commercial Mortgage Trust 2024-T53, Class D (i) | 8.198 | 5/10/2039 | 2,510,784 | ||||||||||
| 4,034,600 | ILPT Commercial Mortgage Trust 2022-LPF2, Class E (g),(i) | 1M SOFR + 5.940% | 11.269 | 10/15/2039 | 4,002,621 | |||||||||
| 355,000 | KSL Commercial Mortgage Trust 2023-HT, Class D (g),(i) | 1M SOFR + 4.287% | 9.604 | 12/15/2036 | 356,836 | |||||||||
| 3,750,000 | La Quinta Mortgage Trust 2023-LAQ, Class D (g),(i) | 1M SOFR + 4.188% | 9.517 | 3/15/2036 | 3,755,603 | |||||||||
| 3,710,000 | One New York Plaza Trust 2020-1NYP, Class B (g),(i) | 1M SOFR + 1.500% | 6.931 | 1/15/2036 | 3,498,838 | |||||||||
| 3,400,000 | One New York Plaza Trust 2020-1NYP, Class C (g),(i) | 1M SOFR + 2.314% | 7.631 | 1/15/2036 | 2,977,657 | |||||||||
| 1,500,000 | One New York Plaza Trust 2020-1NYP, Class D (g),(i) | 1M SOFR + 2.750% | 8.181 | 1/15/2036 | 1,228,917 | |||||||||
| 2,200,000 | ORL Trust 2023-GLKS, Class D (g),(i) | 1M SOFR + 4.301% | 9.618 | 10/19/2036 | 2,203,582 | |||||||||
| 1,811,000 | TWO VA Repack Trust B2, Class B2 (a),(e),(i),(k) | — | 11/15/2033 | 704,479 | ||||||||||
| 170,837 | VA Gilbert AZ Subordinated Note Lease-Backed Pass -Through Trust (a),(i) | 12.997 | 3/15/2034 | 199,367 | ||||||||||
| 4,010,000 | Wells Fargo Commercial Mortgage Trust 2021-FCMT, Class D (g),(i) | 1M SOFR + 3.614% | 8.931 | 5/15/2031 | 3,810,510 | |||||||||
| 1,000,000 | Wells Fargo Commercial Mortgage Trust 2021-FCMT, Class F (g),(i) | 1M SOFR + 6.014% | 11.331 | 5/15/2031 | 948,600 | |||||||||
| 7,500,000 | WMRK Commercial Mortgage Trust 2022-WMRK, Class E (g),(i) | 1M SOFR + 5.676% | 11.005 | 11/15/2035 | 7,530,263 | |||||||||
| Total Commercial Mortgage-Backed Securities (Cost $59,872,129) | 55,844,331 | |||||||||||||
| Cost Basis ($) | ||||||||||||||
| Direct Real Estate - 25.37% | ||||||||||||||
| 7,028,834 | 1902 Park Avenue (Los Angeles) Owner, L.P. (a),(d) | 6,642,311 | ||||||||||||
| 5,107,443 | 3816-3822 W Jefferson Blvd (a) | 3,969,846 | ||||||||||||
| 4,190,582 | 4707 W Jefferson Blvd (a) | 2,707,843 | ||||||||||||
| 5,058,174 | 4901 W Jefferson Blvd - Los Angeles, CA (a) | 5,017,197 | ||||||||||||
| 20,028,130 | Del Mar Terrace - Phoenix, AZ (a),(d) | 14,759,438 | ||||||||||||
| 13,701,343 | EPIC Dallas (a),(d) | 15,152,325 | ||||||||||||
| 30,745,164 | Sora Multifamily Residential Property (a) | 22,528,964 | ||||||||||||
| 5,151,761 | Vale at the Parks - DC (a),(d) | 4,790,273 | ||||||||||||
| Total Direct Real Estate (Cost $91,011,432) | 75,568,197 | |||||||||||||
| Loan Accumulation Facility - 0.42% | ||||||||||||||
| 1,250,000 | Allegro CLO XVII Ltd Warehouse (a),(b),(c) | 17.500 | 5/15/2025 | 1,250,000 | ||||||||||
| Total Loan Accumulation Facility (Cost $1,250,000) | ||||||||||||||
| CIM Real Assets & Credit Fund | Consolidated Schedule of Investments |
| June 30, 2024 (Unaudited) (Continued) |
| Principal Amount ($) | Spread | Coupon Rate (%) | Maturity | Fair Value | ||||||||||
| Real Estate-Related Loans and Securities - 9.69% | ||||||||||||||
| 1,645,000 | IENTC 2, LLC (a),(c),(d),(g) | 1M SOFR + 9.750% | 15.094 | 3/31/2031 | $ | 1,645,000 | ||||||||
| 8,225,000 | IENTC 2, LLC Delayed Draw Term Loan B-1 (a),(c),(d),(g),(h) | 1M SOFR + 9.750% | 15.094 | 3/31/2031 | 8,225,000 | |||||||||
| 1,645,000 | IENTC 2, LLC 2023 Delayed Draw Term Loan B-1 (a),(c),(d),(g),(h) | 3M SOFR + 7.000% | 12.344 | 3/31/2031 | 1,645,000 | |||||||||
| 2,115,000 | IENTC 2, LLC 2023 (a),(c),(d),(g) | 3M SOFR + 7.000% | 12.344 | 3/31/2031 | 2,115,000 | |||||||||
| 10,181,385 | Society Las Olas - PMG Greybook Riverfront I LLC (a),(c),(d),(g) | 1M SOFR + 1.470% | 6.798 | 10/7/2024 | 10,112,253 | |||||||||
| 5,151,984 | Society Las Olas 301 - S 1st Avenue Holdings LLC (a),(c),(d),(g) | 1M SOFR + 6.823% | 12.151 | 10/7/2024 | 5,117,002 | |||||||||
| Total Real Estate-Related Loans and Securities (Cost $28,958,296) | 28,859,255 | |||||||||||||
| Shares | Expiration Date | Strike Price | ||||||||||||
| Warrant — 0.01% | ||||||||||||||
| Internet Media & Services - 0.01% | ||||||||||||||
| 7,576 | RumbleON, Inc. (a),(b),(c),(e) | 8/14/2028 | $33.00 | 15,985 | ||||||||||
| Total Warrant (Cost $83,469) | ||||||||||||||
| Short-Term Investments - 3.72% | ||||||||||||||
| Money Market Funds - 3.72% | ||||||||||||||
| 10,950,491 | First American Treasury Obligations Fund, Class Z, 5.17% (l),(m) | 10,950,491 | ||||||||||||
| 127,470 | Fidelity Treasury Portfolio, Class I, 5.19% (l) | 127,470 | ||||||||||||
| 11,077,961 | ||||||||||||||
| Total Short-Term Investments (Cost $11,077,961) | ||||||||||||||
| Total Investments 111.19% (Cost $354,814,183) | $ | 331,180,006 | ||||||||||||
| Liabilities in Excess of Other Assets (11.19%) | (33,336,640 | ) | ||||||||||||
| Net Assets 100.00% | $ | 297,843,366 | ||||||||||||
| (a) | Fair value of this security was determined using significant, unobservable inputs and was determined in accordance with Rule 2a-5 under the Investment Company Act of 1940, as amended (the “1940 Act”), and as such, is categorized as Level 3 on the Fair Value Hierarchy. |
| (b) | A co-investment, completed under an order for exemptive relief granted by the U.S. Securities and Exchange Commission (“SEC”) on August 4, 2020, that is advised by the OFS Adviser. |
| (c) | Restricted security. |
| (d) | A co-investment, completed under an order for exemptive relief granted by the SEC on August 4,2020, that is advised by the CIM Sub-Adviser. |
| (e) | Non-income producing security. |
| (f) | Investment in affiliate. |
| (g) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
| (h) | This Investment or portion thereof was not funded as of June 30, 2024. The Fund had $3,941,861 at par value in unfunded commitments as of June 30, 2024. |
| (i) | Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of June 30, 2024 the total market value of 144A securities is $154,269,394 or 51.80% of net assets. |
| (j) | Collateralized loan obligation (“CLO”) subordinated notes are residual positions in the CLO vehicle. CLO subordinated notes are entitled to distributions that are generally equal to the residual cash flows of the underlying securities less contractual payments to debt holders and fund expenses. The effective yield is estimated based upon the amount and timing of these distributions in addition to the estimated amount of terminal distribution. Effective yields for the CLO equity positions are updated generally once a quarter in connection with a transaction, such as an add-on purchase, refinancing or reset. The estimated yield and investment cost may ultimately not be realized. Estimated yields are periodically adjusted based on information reported by the CLO as of the date of determination. |
| (k) | Zero coupon bond. |
| (l) | Rate disclosed is the seven day effective yield as of June 30, 2024. |
| (m) | A portion of this security is held as collateral for total return swaps. |
| (n) | Investment was on non-accrual status as of June 30, 2024. Interest collected, if any, will be recognized on a cash basis when received. |
| CIM Real Assets & Credit Fund | Consolidated Schedule of Investments |
| June 30, 2024 (Unaudited) | |
| Restricted Securities |
| Issuer Description | Acquisition Date | Cost | Fair Value | Fair Value as a Percentage of Net Assets | ||||||||||
| Allegro CLO XVII Ltd, Warehouse | 5/15/2024 | $ | 1,250,000 | $ | 1,250,000 | 0.42 | % | |||||||
| 24 Seven, Inc., Term Loan | 1/28/2022 | 4,226,585 | 4,165,007 | 1.40 | % | |||||||||
| AIDC Intermediate Co 2, LLC, Term Loan | 7/22/2022 | 2,440,802 | 2,475,000 | 0.83 | % | |||||||||
| AIDC Intermediate Co 2,Term Loan | 7/31/2023 | 50,405 | 51,487 | 0.02 | % | |||||||||
| Boca Home Care Holdings Revolver | 2/25/2022 | 574,839 | 567,290 | 0.19 | % | |||||||||
| Boca Home Care Holdings, Inc. Delayed Draw Term Loan | 2/25/2022 | 4,712,604 | 4,650,362 | 1.56 | % | |||||||||
| Boca Homecare Holdings, Inc. (Equity) | 2/25/2022 | 581,958 | 331,788 | 0.11 | % | |||||||||
| CGA Holdings, Inc., Class A | 3/3/2023 | 155,086 | 158,519 | 0.05 | % | |||||||||
| CVAUSA Management, LLC Primary Delayed Draw Term Loan | 5/22/2023 | 881,148 | 885,554 | 0.30 | % | |||||||||
| CVAUSA Management, LLC Secondary Delayed Draw Term Loan | 5/22/2023 | 368,852 | 370,697 | 0.12 | % | |||||||||
| CVAUSA ManagemenTerm Loan, LLC, Revolver, Term Loan | 5/22/2023 | 285,714 | 285,714 | 0.10 | % | |||||||||
| CVAUSA Management, LLC, Term Loan | 5/22/2023 | 2,407,463 | 2,459,104 | 0.83 | % | |||||||||
| EOS-Metasource Intermediate, Inc., Term Loan | 5/17/2022 | 3,421,102 | 3,398,729 | 1.14 | % | |||||||||
| Exponential Power, Inc., Term Loan | 5/17/2023 | 2,939,769 | 2,301,608 | 0.77 | % | |||||||||
| Honor HN Buyer, Inc. Delayed Draw Term Loan | 10/15/2021 | 709,308 | 709,308 | 0.24 | % | |||||||||
| Honor HN Buyer, Inc. Revolver | 10/15/2021 | 132,013 | 132,013 | 0.04 | % | |||||||||
| Honor HN Buyer, Inc. Term Loan | 10/15/2021 | 1,108,682 | 1,121,693 | 0.38 | % | |||||||||
| Honor HN Buyer, Inc. Term Loan 1st Amendment Health Network | 3/31/2023 | 788,062 | 788,062 | 0.27 | % | |||||||||
| IENTC 1, LLC | 3/31/2022 | 3,772,723 | 7,884,081 | 2.65 | % | |||||||||
| IENTC 2, LLC | 3/31/2022 | 1,645,000 | 1,645,000 | 0.55 | % | |||||||||
| IENTC 2, LLC 2023 | 12/13/2023 | 2,115,000 | 2,115,000 | 0.71 | % | |||||||||
| IENTC 2, LLC Delayed Draw Term Loan B-1 | 3/31/2022 | 8,225,000 | 8,225,000 | 2.76 | % | |||||||||
| IENTC 2, LLC 2023 Delayed Draw Term Loan B-1 | 12/13/2023 | 1,645,000 | 1,645,000 | 0.55 | % | |||||||||
| Kreg LLC, Revolver | 12/20/2021 | 162,228 | 152,446 | 0.05 | % | |||||||||
| Kreg LLC, Term Loan | 12/20/2021 | 2,107,589 | 1,979,097 | 0.66 | % | |||||||||
| MEDRINA, LLC Term Loan | 10/20/2023 | 1,451,513 | 1,479,696 | 0.50 | % | |||||||||
| MEDRINA, LLC Delayed Draw Term Loan | 10/20/2023 | 294,149 | 296,681 | 0.10 | % | |||||||||
| MEDRINA, LLC Revolver | 10/20/2023 | 207,447 | 211,915 | 0.07 | % | |||||||||
| One GI Intermediate LLC, Revolver Upsize | 12/13/2021 | 333,333 | 322,667 | 0.11 | % | |||||||||
| One GI Intermediate LLC, Tranche B Delayed Draw Term Loan | 12/13/2021 | 1,702,475 | 1,655,885 | 0.56 | % | |||||||||
| One GI Intermediate LLC, Tranche C Delayed Draw Term Loan | 12/13/2021 | 901,450 | 872,604 | 0.29 | % | |||||||||
| PSB Group, LLC, Term Loan (Last Out) - May 2023 | 5/1/2023 | 1,974,528 | 2,008,434 | 0.67 | % | |||||||||
| RumbleOn, Inc., Term Loan | 8/31/2021 | 1,051,452 | 1,007,414 | 0.34 | % | |||||||||
| RumbleOn, Inc., Delayed Draw Term Loan | 8/31/2021 | 327,714 | 304,774 | 0.10 | % | |||||||||
| RumbleOn, Inc., (Warrant) | 8/31/2021 | 83,469 | 15,985 | 0.01 | % | |||||||||
| Shiftkey, Revolver | 6/21/2022 | 147,059 | 144,551 | 0.05 | % | |||||||||
| Shiftkey, Term Loan | 6/21/2022 | 2,296,792 | 2,272,349 | 0.76 | % | |||||||||
| Society Las Olas - PMG Greybook Riverfront I LLC | 9/23/2021 | 10,176,312 | 10,112,253 | 3.40 | % | |||||||||
| Society Las Olas 301 - S 1st Avenue Holdings LLC | 6/7/2022 | 5,151,984 | 5,117,002 | 1.72 | % | |||||||||
| Spectrum Vision Partners, LLC | 5/2/2023 | 3,938,864 | 3,941,499 | 1.32 | % | |||||||||
| SS Acquisition LLC, Delayed Draw Term Loan | 12/30/2021 | 1,432,100 | 1,440,000 | 0.48 | % | |||||||||
| SS Acquisition LLC, Term Loan | 12/30/2021 | 2,981,439 | 3,000,000 | 1.01 | % | |||||||||
| $ | 81,159,012 | $ | 83,951,268 | 28.19 | % | |||||||||
| CIM Real Assets & Credit Fund | Consolidated Schedule of Investments |
| June 30, 2024 (Unaudited) |
TOTAL RETURN SWAP CONTRACTS (a)
| Net Unrealized | ||||||||||||||||||
| Notional | Termination | Appreciation | ||||||||||||||||
| Counterparty | Reference Entity/Obligation | Amount | Fund Pays | Date | Fair Value | (Depreciation) | ||||||||||||
| Citibank, N.A. | 1011778 B.C. Unlimited Liability Co., Term Loan B, 1M SOFR + 1.75% | $ | 499,375 | 3M SOFR + 1.80% | 9/30/2030 | $ | 499,367 | $ | (14 | ) | ||||||||
| Citibank, N.A. | 84 Lumber Co., Term Loan B, 1M SOFR + 2.25% (b) | $ | 70,894 | 3M SOFR + 1.80% | 12/2/2030 | $ | 71,740 | $ | 845 | |||||||||
| Citibank, N.A. | ABG Intermediate Holdings 2 LLC 2024 Refi Term Loan, 1M SOFR + 2.75% | $ | 685,140 | 3M SOFR + 1.80% | 12/21/2028 | $ | 695,982 | $ | 10,828 | |||||||||
| Citibank, N.A. | Academy, Ltd., 1M SOFR + 3.75% (b) | $ | 266,773 | 3M SOFR + 1.80% | 11/5/2027 | $ | 266,247 | $ | 49 | |||||||||
| Citibank, N.A. | Acrisure LLC, 1M SOFR + 3.50% | $ | 579,636 | 3M SOFR + 1.80% | 2/15/2027 | $ | 582,423 | $ | 1,715 | |||||||||
| Citibank, N.A. | Acrisure LLC, 1M SOFR + 4.25% | $ | 145,525 | 3M SOFR + 1.80% | 2/15/2027 | $ | 147,176 | $ | 1,162 | |||||||||
| Citibank, N.A. | Acrisure, LLC Term Loan B6, 3M SOFR + 3.25% | $ | 225,251 | 3M SOFR + 1.80% | 11/6/2030 | $ | 225,252 | $ | 1 | |||||||||
| Citibank, N.A. | Adeia Inc., Term Loan B, 1M SOFR + 3.00% (b) | $ | 689,283 | 3M SOFR + 1.80% | 6/8/2028 | $ | 693,831 | $ | 4,369 | |||||||||
| Citibank, N.A. | ADMI Corp. Term Loan B3 1L, 1M SOFR + 3.75% | $ | 782,359 | 3M SOFR + 1.80% | 12/23/2027 | $ | 772,043 | $ | (11,839 | ) | ||||||||
| Citibank, N.A. | Advantage Sales & Marketing, Inc., Term Loan B2, 3M SOFR + 4.25% | $ | 751,196 | 3M SOFR + 1.80% | 10/28/2027 | $ | 733,592 | $ | (17,604 | ) | ||||||||
| Citibank, N.A. | Aegion Corp. Term Loan , 1M SOFR + 4.25% | $ | 805,445 | 3M SOFR + 1.80% | 5/17/2028 | $ | 814,275 | $ | 8,722 | |||||||||
| Citibank, N.A. | AHP Health Partners, Inc., 1M SOFR + 3.50% | $ | 249,899 | 3M SOFR + 1.80% | 8/24/2028 | $ | 251,794 | $ | 1,580 | |||||||||
| Citibank, N.A. | AI Aqua Merger Sub, Inc., 1M SOFR + 4.00% | $ | 734,145 | 3M SOFR + 1.80% | 7/31/2028 | $ | 741,014 | $ | 5,896 | |||||||||
| Citibank, N.A. | Allen Media LLC, 3M SOFR + 5.50% | $ | 1,486,036 | 3M SOFR + 1.80% | 2/10/2027 | $ | 1,132,352 | $ | (360,131 | ) | ||||||||
| Citibank, N.A. | Allied Universal Holdco LLC, 1M SOFR + 3.75% | $ | 485,063 | 3M SOFR + 1.80% | 5/14/2028 | $ | 486,176 | $ | 272 | |||||||||
| Citibank, N.A. | Amentum Government Services Holdings LLC Term Loan B 1L, 1M SOFR + 4.00% | $ | 345,031 | 3M SOFR + 1.80% | 2/15/2029 | $ | 348,715 | $ | 3,199 | |||||||||
| Citibank, N.A. | American Airlines, Inc. Seventh Amendment Extended Term Loan, 1M SOFR + 2.75% | $ | 493,093 | 3M SOFR + 1.80% | 2/7/2028 | $ | 494,469 | $ | 1,147 | |||||||||
| Citibank, N.A. | American Airlines, Inc. Term Loan B (Nov 2023), 3M SOFR + 2.50% | $ | 275,000 | 3M SOFR + 1.80% | 6/4/2029 | $ | 277,674 | $ | 2,398 | |||||||||
| Citibank, N.A. | American Axle & Manufacturing, Inc., Term Loan, 1M SOFR + 3.50% | $ | 967,686 | 3M SOFR + 1.80% | 12/13/2029 | $ | 982,914 | $ | 13,556 | |||||||||
| Citibank, N.A. | Amynta Agency Borrower, Inc. 1st Lien Term Loan B, 3M SOFR + 4.25% | $ | 902,881 | 3M SOFR + 1.80% | 2/28/2028 | $ | 909,180 | $ | 5,986 | |||||||||
| Citibank, N.A. | AP Core Holdings II LLC, 1M SOFR + 5.50% | $ | 825,917 | 3M SOFR + 1.80% | 9/1/2027 | $ | 736,468 | $ | (93,909 | ) | ||||||||
| Citibank, N.A. | AppLovin Corp.Term Loan B, 1M SOFR + 2.50% | $ | 687,568 | 3M SOFR + 1.80% | 8/19/2030 | $ | 691,493 | $ | 3,893 | |||||||||
| Citibank, N.A. | Arches Buyer, Inc., 1M SOFR + 3.25% | $ | 829,861 | 3M SOFR + 1.80% | 12/6/2027 | $ | 804,893 | $ | (27,081 | ) | ||||||||
| Citibank, N.A. | Asurion, LLC NEW B-11 TERM LOAN, 1M SOFR + 4.25% | $ | 365,605 | 3M SOFR + 1.80% | 8/19/2028 | $ | 375,119 | $ | 7,867 | |||||||||
| Citibank, N.A. | Asurion, LLC Term Loan B 1L, 1M SOFR + 4.00% | $ | 584,844 | 3M SOFR + 1.80% | 8/21/2028 | $ | 609,660 | $ | 17,112 | |||||||||
| Citibank, N.A. | Athenahealth Group Inc. Term Loan B 1L, 1M SOFR + 3.25% | $ | 435,842 | 3M SOFR + 1.80% | 2/15/2029 | $ | 437,054 | $ | 609 | |||||||||
| Citibank, N.A. | Athletico Physical Therapy Term Loan B, 3M SOFR + 4.25% | $ | 888,716 | 3M SOFR + 1.80% | 2/15/2029 | $ | 744,873 | $ | (145,087 | ) | ||||||||
| Citibank, N.A. | Autokiniton US Holdings, Inc. Term Loan B , 1M SOFR + 4.00% | $ | 1,070,413 | 3M SOFR + 1.80% | 4/6/2028 | $ | 1,074,305 | $ | 3,971 | |||||||||
| Citibank, N.A. | Axalta Coating Systems Holdings Term Loan B, 3M SOFR + 2.00% | $ | 675,333 | 3M SOFR + 1.80% | 12/20/2029 | $ | 679,507 | $ | 4,141 | |||||||||
| Citibank, N.A. | Bakemark Holdings, Inc., 1M SOFR + 4.00% | $ | 486,306 | 3M SOFR + 1.80% | 9/5/2028 | $ | 487,452 | $ | 325 | |||||||||
| Citibank, N.A. | Banijay Entertainment S.A.S., Banijay 1L, 1M SOFR + 3.25% | $ | 355,401 | 3M SOFR + 1.80% | 3/2/2028 | $ | 360,158 | $ | 3,998 | |||||||||
| Citibank, N.A. | Barnes Group Inc., Term Loan B, 1M SOFR + 2.50% | $ | 493,769 | 3M SOFR + 1.80% | 8/30/2030 | $ | 499,572 | $ | 5,753 | |||||||||
| Citibank, N.A. | BCPE North Star US Holdco 2, Inc. Term Loan 1L, 1M SOFR + 4.00% | $ | 938,949 | 3M SOFR + 1.80% | 6/9/2028 | $ | 898,843 | $ | (41,380 | ) | ||||||||
| Citibank, N.A. | BIP Pipco Holdings LLC Brookfield NGPL, 1M SOFR + 2.50% | $ | 165,833 | 3M SOFR + 1.80% | 12/6/2030 | $ | 167,214 | $ | 1,319 | |||||||||
| Citibank, N.A. | BJ’s Wholesale Club, Inc. 2023 Other Term Loans, 1M SOFR + 2.00% | $ | 176,090 | 3M SOFR + 1.80% | 2/5/2029 | $ | 177,139 | $ | 1,014 | |||||||||
| Citibank, N.A. | Blackhawk Network Holdings, Inc. Term Loan B, 1M SOFR + 5.00% | $ | 182,237 | 3M SOFR + 1.80% | 3/12/2029 | $ | 184,844 | $ | 2,502 | |||||||||
| Citibank, N.A. | Brookfield WEC Holdings Term Loan B, 1M SOFR + 2.75% | $ | 435,850 | 3M SOFR + 1.80% | 1/17/2031 | $ | 446,210 | $ | 9,974 | |||||||||
| Citibank, N.A. | Brown Group Holding, LLC Term Loan B2 1L, 3M SOFR + 3.00% | $ | 196,508 | 3M SOFR + 1.80% | 7/1/2031 | $ | 198,641 | $ | 1,858 | |||||||||
| Citibank, N.A. | Burlington Coat Factory Warehouse Corp., 1M SOFR + 2.00% | $ | 532,201 | 3M SOFR + 1.80% | 6/26/2028 | $ | 534,875 | $ | 1,697 | |||||||||
| Citibank, N.A. | Buzz Merger Sub LTD. Initial Term Loan, 1M SOFR + 2.75% | $ | 496,124 | 3M SOFR + 1.80% | 1/29/2027 | $ | 497,156 | $ | 1,032 | |||||||||
| Citibank, N.A. | Canister International Term Loan B, 1M SOFR + 4.00% | $ | 62,188 | 3M SOFR + 1.80% | 3/13/2029 | $ | 62,949 | $ | 754 | |||||||||
| Citibank, N.A. | Carroll County Energy LLC, Term Loan B, 3M SOFR + 4.00% (b) | $ | 990,000 | 3M SOFR + 1.80% | 6/24/2031 | $ | 1,001,250 | $ | 11,250 | |||||||||
| Citibank, N.A. | CCRR Parent, Inc. Term Loan B, 1M SOFR + 4.25% | $ | 875,258 | 3M SOFR + 1.80% | 3/5/2028 | $ | 748,384 | $ | (126,078 | ) | ||||||||
| Citibank, N.A. | CD&R Hydra Buyer, Inc. Term Loan B, 1M SOFR + 4.00% | $ | 443,206 | 3M SOFR + 1.80% | 3/14/2031 | $ | 444,934 | $ | 1,705 | |||||||||
| Citibank, N.A. | Charlotte Buyer, Inc.; Curo Health Services, LLC, 1M SOFR + 5.25% | $ | 918,375 | 3M SOFR + 1.80% | 2/11/2028 | $ | 991,317 | $ | 53,799 | |||||||||
| Citibank, N.A. | Chart Industries, Inc. Amendment No 5 Term Loan, 1M SOFR + 3.25% | $ | 178,547 | 3M SOFR + 1.80% | 3/15/2030 | $ | 183,248 | $ | 4,477 | |||||||||
| Citibank, N.A. | Charter NEX US, Inc Term Loan B, 1M SOFR + 3.50% | $ | 562,587 | 3M SOFR + 1.80% | 12/1/2027 | $ | 570,916 | $ | 8,154 | |||||||||
| Citibank, N.A. | CHG Healthcare Services Inc Term Loan B 2023, 1M SOFR + 3.75% | $ | 246,881 | 3M SOFR + 1.80% | 9/30/2028 | $ | 250,389 | $ | 3,210 | |||||||||
| Citibank, N.A. | CHG Healthcare Services, Inc., 1M SOFR + 3.25% | $ | 342,397 | 3M SOFR + 1.80% | 9/29/2028 | $ | 345,049 | $ | 2,071 | |||||||||
| Citibank, N.A. | City Brewing Co., 3M SOFR + 3.50% (b) | $ | 74,035 | 3M SOFR + 1.80% | 4/5/2028 | $ | 67,589 | $ | (6,430 | ) | ||||||||
| Citibank, N.A. | City Brewing Co., PIK Term, 3M SOFR + 3.50% (b) | $ | 111,053 | 3M SOFR + 1.80% | 4/5/2028 | $ | 88,400 | $ | (22,629 | ) | ||||||||
| Citibank, N.A. | CLARIOS GLOBAL LP Term Loan B, 1M SOFR + 3.00% | $ | 286,302 | 3M SOFR + 1.80% | 5/6/2030 | $ | 288,775 | $ | 2,405 | |||||||||
| Citibank, N.A. | Clydesdale Acquisition Holdings, Inc., 1M SOFR + 3.68% | $ | 548,330 | 3M SOFR + 1.80% | 4/13/2029 | $ | 571,388 | $ | 18,138 | |||||||||
| Citibank, N.A. | Cogeco Communications Finance (USA) LP,Term Loan B, 1M SOFR + 2.50% | $ | 488,131 | 3M SOFR + 1.80% | 9/1/2028 | $ | 479,824 | $ | (8,509 | ) | ||||||||
| Citibank, N.A. | Compass Power Generation LLC, 1M SOFR + 4.25% | $ | 823,729 | 3M SOFR + 1.80% | 4/14/2029 | $ | 846,125 | $ | 19,152 | |||||||||
| Citibank, N.A. | Concentra Health Services, Inc. Term Loan B, 1M SOFR + 2.25% (b) | $ | 32,218 | 3M SOFR + 1.80% | 6/26/2031 | $ | 32,419 | $ | 202 | |||||||||
| Citibank, N.A. | Conduent Business Services LLC, 1M SOFR + 4.25% | $ | 76,729 | 3M SOFR + 1.80% | 10/15/2028 | $ | 77,369 | $ | 542 | |||||||||
| Citibank, N.A. | Connect Finco SARL Term Loan B, 1M SOFR + 4.50% | $ | 977,243 | 3M SOFR + 1.80% | 9/28/2029 | $ | 921,795 | $ | (55,383 | ) | ||||||||
| Citibank, N.A. | Corel Corp., 3M SOFR + 5.00% | $ | 581,190 | 3M SOFR + 1.80% | 7/2/2026 | $ | 607,327 | $ | 19,537 | |||||||||
| Citibank, N.A. | CoreLogic, Inc., 1M SOFR + 3.50% | $ | 202,626 | 3M SOFR + 1.80% | 6/2/2028 | $ | 200,449 | $ | (2,316 | ) | ||||||||
| Citibank, N.A. | CORGI BIDCO, INC.Term Loan 1L, 3M SOFR + 5.00% | $ | 170,366 | 3M SOFR + 1.80% | 10/15/2029 | $ | 175,674 | $ | 3,376 | |||||||||
| Citibank, N.A. | Cornerstone Building Brands, Inc. Term Loan C, 1M SOFR + 4.50% | $ | 248,750 | 3M SOFR + 1.80% | 5/15/2031 | $ | 248,959 | $ | 189 | |||||||||
| CIM Real Assets & Credit Fund | Consolidated Schedule of Investments |
| June 30, 2024 (Unaudited) (Continued) |
TOTAL RETURN SWAP CONTRACTS (a)
| Net Unrealized | ||||||||||||||||||
| Notional | Termination | Appreciation | ||||||||||||||||
| Counterparty | Reference Entity/Obligation | Amount | Fund Pays | Date | Fair Value | (Depreciation) | ||||||||||||
| Citibank, N.A. | Cornerstone Building Brands, Inc., 1M SOFR + 3.25% | $ | 241,334 | 3M SOFR + 1.80% | 4/12/2028 | $ | 268,245 | $ | 20,642 | |||||||||
| Citibank, N.A. | Cornerstone OnDemand, Inc., Term Loan, 1M SOFR + 3.75% | $ | 679,025 | 3M SOFR + 1.80% | 10/16/2028 | $ | 645,134 | $ | (34,704 | ) | ||||||||
| Citibank, N.A. | CP Atlas Buyer, Inc., 1M SOFR + 3.75% | $ | 389,740 | 3M SOFR + 1.80% | 11/23/2027 | $ | 381,103 | $ | (8,637 | ) | ||||||||
| Citibank, N.A. | Crosby Worldwide Limited Term Loan N, 1M SOFR + 4.00% | $ | 114,521 | 3M SOFR + 1.80% | 8/16/2029 | $ | 115,875 | $ | 1,318 | |||||||||
| Citibank, N.A. | Culligan 2023 Incremental Term Loan, 1M SOFR + 4.25% | $ | 38,039 | 3M SOFR + 1.80% | 7/31/2028 | $ | 39,319 | $ | 1,213 | |||||||||
| Citibank, N.A. | Dermatology Intermediate Holdings III, Inc. Term Loan B 1L, 3M SOFR + 4.25% | $ | 341,027 | 3M SOFR + 1.80% | 3/26/2029 | $ | 336,971 | $ | (5,573 | ) | ||||||||
| Citibank, N.A. | DexKo Global Inc., Term Loan B, 3M SOFR + 3.75% | $ | 634,949 | 3M SOFR + 1.80% | 10/4/2028 | $ | 634,130 | $ | (1,410 | ) | ||||||||
| Citibank, N.A. | DG Investment Intermediate Holdings 2, Inc., 1M SOFR + 3.75% | $ | 734,048 | 3M SOFR + 1.80% | 3/31/2028 | $ | 734,966 | $ | 623 | |||||||||
| Citibank, N.A. | DIRECTV Financing LLC, 1M SOFR + 5.00% | $ | 434,866 | 3M SOFR + 1.80% | 8/2/2027 | $ | 439,067 | $ | 3,329 | |||||||||
| Citibank, N.A. | East West Manufacturing, LLC Term Loan B 1L, 3M SOFR + 5.75% (b) | $ | 635,250 | 3M SOFR + 1.80% | 12/22/2028 | $ | 612,792 | $ | (24,167 | ) | ||||||||
| Citibank, N.A. | Element Materials Tech Group US Holdings Delayed Term Loan, 3M SOFR + 4.25% | $ | 55,031 | 3M SOFR + 1.80% | 6/22/2029 | $ | 55,318 | $ | 287 | |||||||||
| Citibank, N.A. | Element Materials Tech Group US Holdings Inc. Term Loan, 3M SOFR + 4.25% | $ | 118,638 | 3M SOFR + 1.80% | 6/22/2029 | $ | 119,855 | $ | 1,095 | |||||||||
| Citibank, N.A. | EnergySolutions, LLC 2023 Term Loan, 1M SOFR + 3.75% | $ | 542,995 | 3M SOFR + 1.80% | 9/23/2030 | $ | 554,853 | $ | 11,128 | |||||||||
| Citibank, N.A. | Fertitta Entertainment, LLC Term Loan B 1L, 1M SOFR + 3.75% | $ | 340,017 | 3M SOFR + 1.80% | 1/29/2029 | $ | 341,657 | $ | 1,394 | |||||||||
| Citibank, N.A. | Fiesta Purchaser, Inc Term Loan B, 1M SOFR + 4.00% | $ | 180,000 | 3M SOFR + 1.80% | 2/12/2031 | $ | 183,306 | $ | 3,236 | |||||||||
| Citibank, N.A. | First Brands Incremental Term Loan B, 3M SOFR + 5.00% (b) | $ | 262,213 | 3M SOFR + 1.80% | 3/30/2027 | $ | 264,135 | $ | 1,801 | |||||||||
| Citibank, N.A. | Flash Charm Inc., 1M SOFR + 3.50% | $ | 497,500 | 3M SOFR + 1.80% | 3/2/2028 | $ | 497,188 | $ | (333 | ) | ||||||||
| Citibank, N.A. | Flexera Software LLC Term Loan, 3M SOFR + 3.50% | $ | 250,000 | 3M SOFR + 1.80% | 3/3/2028 | $ | 251,250 | $ | 1,250 | |||||||||
| Citibank, N.A. | Flutter Entertainment plc 2023 Term Loan B, 3M SOFR + 2.25% | $ | 165,834 | 3M SOFR + 1.80% | 11/25/2030 | $ | 166,545 | $ | 677 | |||||||||
| Citibank, N.A. | Franklin Square Holdings LP, Term Loan B, 1M SOFR + 2.25% (b) | $ | 249,375 | 3M SOFR + 1.80% | 4/28/2031 | $ | 250,313 | $ | 926 | |||||||||
| Citibank, N.A. | Gainwell Acquisition Corp., 3M SOFR + 4.00% | $ | 230,466 | 3M SOFR + 1.80% | 10/1/2027 | $ | 223,242 | $ | (6,994 | ) | ||||||||
| Citibank, N.A. | Gainwell Acquisition Corp., 3M SOFR + 4.25% | $ | 1,078,259 | 3M SOFR + 1.80% | 2/1/2029 | $ | 1,090,462 | $ | 10,861 | |||||||||
| Citibank, N.A. | Gates Global LLC, Term Loan B5, 1M SOFR + 2.25% | $ | 261,199 | 3M SOFR + 1.80% | 6/4/2031 | $ | 261,919 | $ | 720 | |||||||||
| Citibank, N.A. | Genesee & Wyoming, Inc.Term Loan B, 3M SOFR + 2.00% | $ | 497,500 | 3M SOFR + 1.80% | 4/10/2031 | $ | 500,047 | $ | 2,506 | |||||||||
| Citibank, N.A. | GIP Pilot Acquisition Partners LP, Term Lona B, 3M SOFR + 2.50% | $ | 248,128 | 3M SOFR + 1.80% | 10/4/2030 | $ | 249,998 | $ | 1,857 | |||||||||
| Citibank, N.A. | Gloves Buyer, Inc., Term Loan B, 1M SOFR + 4.00% | $ | 399,000 | 3M SOFR + 1.80% | 12/29/2027 | $ | 398,376 | $ | (636 | ) | ||||||||
| Citibank, N.A. | GoTo Group Inc Term Loan, 1M SOFR + 4.75% | $ | 219,982 | 3M SOFR + 1.80% | 4/28/2028 | $ | 195,234 | $ | (24,748 | ) | ||||||||
| Citibank, N.A. | GoTo Group Inc Term Loan, 1M SOFR + 4.75% | $ | 303,784 | 3M SOFR + 1.80% | 4/28/2028 | $ | 156,774 | $ | (147,010 | ) | ||||||||
| Citibank, N.A. | Great Outdoors Group, LLC Term Loan B 1L, 1M SOFR + 3.75% | $ | 1,261,809 | 3M SOFR + 1.80% | 3/6/2028 | $ | 1,271,914 | $ | 6,948 | |||||||||
| Citibank, N.A. | Hamilton Projects Acquiror LLC Term Loan B, 1M SOFR + 3.75% | $ | 249,375 | 3M SOFR + 1.80% | 5/30/2031 | $ | 251,920 | $ | 2,540 | |||||||||
| Citibank, N.A. | Harbor Freight Tools USA, Inc. Term Loan B, 1M SOFR + 2.50% | $ | 249,375 | 3M SOFR + 1.80% | 6/11/2031 | $ | 249,589 | $ | 212 | |||||||||
| Citibank, N.A. | Help/Systems Holdings, Inc., 3M SOFR + 4.00% | $ | 484,848 | 3M SOFR + 1.80% | 11/19/2026 | $ | 437,879 | $ | (46,970 | ) | ||||||||
| Citibank, N.A. | Hunter Douglas Inc. Term Loan B 1L, 3M SOFR + 3.50% | $ | 488,794 | 3M SOFR + 1.80% | 2/25/2029 | $ | 488,708 | $ | (774 | ) | ||||||||
| Citibank, N.A. | Hyperion Materials and Technologies Inc Initial Term Loans, 3M SOFR + 4.50% | $ | 741,808 | 3M SOFR + 1.80% | 8/30/2028 | $ | 726,985 | $ | (15,167 | ) | ||||||||
| Citibank, N.A. | Indicor Term LoanC , 3M SOFR + 3.25% | $ | 95,537 | 3M SOFR + 1.80% | 11/22/2029 | $ | 99,518 | $ | 3,972 | |||||||||
| Citibank, N.A. | Indy US Holdco LLC, 1M SOFR + 6.25% | $ | 803,023 | 3M SOFR + 1.80% | 3/5/2028 | $ | 904,528 | $ | 85,245 | |||||||||
| Citibank, N.A. | Indy US Holdco LLC, Term Loan B, 1M SOFR + 4.75% | $ | 997,500 | 3M SOFR + 1.80% | 3/6/2028 | $ | 1,002,500 | $ | 5,000 | |||||||||
| Citibank, N.A. | Installed Building Products, Inc.m Term Loan B, 1M SOFR + 2.00% | $ | 497,500 | 3M SOFR + 1.80% | 3/28/2031 | $ | 501,696 | $ | 4,196 | |||||||||
| Citibank, N.A. | Ivanti Software, Inc., 3M SOFR + 4.25% | $ | 651,700 | 3M SOFR + 1.80% | 12/1/2027 | $ | 521,291 | $ | (131,017 | ) | ||||||||
| Citibank, N.A. | Jadex, Inc., 1M SOFR + 4.75% | $ | 355,835 | 3M SOFR + 1.80% | 2/11/2028 | $ | 347,678 | $ | (8,808 | ) | ||||||||
| Citibank, N.A. | Janus International Group LLC Term Loan B, 1M SOFR + 2.50% | $ | 226,286 | 3M SOFR + 1.80% | 8/5/2030 | $ | 230,035 | $ | 3,720 | |||||||||
| Citibank, N.A. | KKR Apple Bidco, LLC, 1M SOFR + 2.75% | $ | 937,963 | 3M SOFR + 1.80% | 9/22/2028 | $ | 941,582 | $ | 2,932 | |||||||||
| Citibank, N.A. | KNS Midco Corp., 1M SOFR + 6.25% | $ | 562,500 | 3M SOFR + 1.80% | 4/16/2027 | $ | 366,241 | $ | (196,259 | ) | ||||||||
| Citibank, N.A. | LBM Acquisition LLC, 1M SOFR + 3.75% | $ | 629,544 | 3M SOFR + 1.80% | 12/17/2027 | $ | 630,114 | $ | 228 | |||||||||
| Citibank, N.A. | LifePoint Health Inc., Term Loan B, 3M SOFR + 4.00% | $ | 250,000 | 3M SOFR + 1.80% | 5/14/2031 | $ | 250,665 | $ | 665 | |||||||||
| Citibank, N.A. | LifePoint Health Inc., Term Loan B, 3M SOFR + 4.75% | $ | 235,927 | 3M SOFR + 1.80% | 11/16/2028 | $ | 251,043 | $ | 14,879 | |||||||||
| Citibank, N.A. | Liftoff Mobile, Inc., 1M SOFR + 3.50% | $ | 485,753 | 3M SOFR + 1.80% | 10/2/2028 | $ | 473,265 | $ | (13,053 | ) | ||||||||
| Citibank, N.A. | LS Group OpCo Acquisition LLC, Term Loan B, 1M SOFR + 3.00% | $ | 454,202 | 3M SOFR + 1.80% | 4/23/2031 | $ | 454,959 | $ | 756 | |||||||||
| Citibank, N.A. | LSF11 A5 Holdco LLC, Term Loan B, 1M SOFR + 3.50% | $ | 638,540 | 3M SOFR + 1.80% | 10/16/2028 | $ | 648,537 | $ | 9,959 | |||||||||
| Citibank, N.A. | LSF9 ATerm Loanantis Holdings, LLC Term Loan B, 3M SOFR + 6.50% (b) | $ | 723,199 | 3M SOFR + 1.80% | 3/29/2029 | $ | 761,158 | $ | 37,524 | |||||||||
| Citibank, N.A. | Madison IAQ LLC, 1M SOFR + 2.75% | $ | 633,614 | 3M SOFR + 1.80% | 6/21/2028 | $ | 640,021 | $ | 4,575 | |||||||||
| Citibank, N.A. | Magenta Buyer LLC, 3M SOFR + 5.00% | $ | 590,832 | 3M SOFR + 1.80% | 7/27/2028 | $ | 332,812 | $ | (258,925 | ) | ||||||||
| Citibank, N.A. | McAfee Corp. Term Loan B-1, 1M SOFR + 3.25% | $ | 902,388 | 3M SOFR + 1.80% | 3/1/2029 | $ | 907,136 | $ | 4,707 | |||||||||
| Citibank, N.A. | McGraw-Hill Education, Inc., 3M SOFR + 4.75% | $ | 714,119 | 3M SOFR + 1.80% | 7/28/2028 | $ | 723,486 | $ | 6,954 | |||||||||
| Citibank, N.A. | Medline Borrower, LP Term Loan B, 1M SOFR + 2.75% | $ | 778,639 | 3M SOFR + 1.80% | 10/23/2028 | $ | 783,521 | $ | 4,833 | |||||||||
| Citibank, N.A. | Mega Broadband Investments LLC Initial Term Loan, 3M SOFR + 3.00% | $ | 550,167 | 3M SOFR + 1.80% | 11/12/2027 | $ | 559,624 | $ | 7,336 | |||||||||
| Citibank, N.A. | MH Sub I LLC, 1M SOFR + 4.25% | $ | 671,697 | 3M SOFR + 1.80% | 5/3/2028 | $ | 694,152 | $ | 19,210 | |||||||||
| Citibank, N.A. | Midwest Physician Administrative Services LLC, 3M SOFR + 3.25% | $ | 433,298 | 3M SOFR + 1.80% | 3/13/2028 | $ | 380,827 | $ | (52,503 | ) | ||||||||
| Citibank, N.A. | Modena Buyer LLC, Term Loan B, 3M SOFR + 4.50% | $ | 460,385 | 3M SOFR + 1.80% | 7/1/2031 | $ | 451,082 | $ | (9,302 | ) | ||||||||
| Citibank, N.A. | Mosel Bidco SE Term Loan B, 3M SOFR + 4.50% | $ | 198,000 | 3M SOFR + 1.80% | 9/16/2030 | $ | 201,250 | $ | 3,098 | |||||||||
| Citibank, N.A. | Naked Juice LLC 3M SOFR + 3.25% | $ | 977,550 | 3M SOFR + 1.80% | 1/24/2029 | $ | 910,939 | $ | (67,326 | ) | ||||||||
| Citibank, N.A. | NorthStar Group Services,Inc., 6M SOFR + 4.75% (b) | $ | 248,750 | 3M SOFR + 1.80% | 5/8/2030 | $ | 250,989 | $ | 2,227 | |||||||||
| CIM Real Assets & Credit Fund | Consolidated Schedule of Investments |
| June 30, 2024 (Unaudited) (Continued) |
TOTAL RETURN SWAP CONTRACTS (a)
| Net Unrealized | ||||||||||||||||||
| Notional | Termination | Appreciation | ||||||||||||||||
| Counterparty | Reference Entity/Obligation | Amount | Fund Pays | Date | Fair Value | (Depreciation) | ||||||||||||
| Citibank, N.A. | Olaplex, Inc Term Loan 1L, 1M SOFR + 3.50% | $ | 347,146 | 3M SOFR + 1.80% | 2/17/2029 | $ | 341,554 | $ | (7,332 | ) | ||||||||
| Citibank, N.A. | OldcasTerm Loane Building Envelope Inc Term Loan B 1L, 3M SOFR + 4.25% | $ | 721,823 | 3M SOFR + 1.80% | 4/30/2029 | $ | 741,133 | $ | 14,890 | |||||||||
| Citibank, N.A. | OpenText Corporation Repriced Term Loan B, 1M SOFR + 2.25% | $ | 312,607 | 3M SOFR + 1.80% | 1/31/2030 | $ | 314,324 | $ | 1,716 | |||||||||
| Citibank, N.A. | Outcomes Group Holdings, Inc. Term Loan B, 3M SOFR + 4.25% | $ | 248,750 | 3M SOFR + 1.80% | 5/6/2031 | $ | 251,114 | $ | 2,347 | |||||||||
| Citibank, N.A. | PetSmart LLC, 1M SOFR + 3.75% | $ | 1,262,760 | 3M SOFR + 1.80% | 2/11/2028 | $ | 1,265,065 | $ | 902 | |||||||||
| Citibank, N.A. | PHOENIX GUARANTOR INC Term Loan B4, 1M SOFR + 3.25% | $ | 742,500 | 3M SOFR + 1.80% | 2/21/2031 | $ | 748,973 | $ | 6,209 | |||||||||
| Citibank, N.A. | Pitney Bowes INC.Term Loan, 1M SOFR + 4.00% | $ | 740,740 | 3M SOFR + 1.80% | 3/17/2028 | $ | 746,003 | $ | 4,268 | |||||||||
| Citibank, N.A. | Quikrete Holdings, Inc., Term Loan B, 1M SOFR + 2.50% | $ | 498,750 | 3M SOFR + 1.80% | 4/14/2031 | $ | 501,692 | $ | 2,917 | |||||||||
| Citibank, N.A. | Radnet Management, Inc. Term Loan B, 3M SOFR + 2.50% | $ | 248,125 | 3M SOFR + 1.80% | 4/10/2031 | $ | 250,469 | $ | 2,314 | |||||||||
| Citibank, N.A. | Redstone Holdco 2 LP, 1M SOFR + 4.75% | $ | 829,983 | 3M SOFR + 1.80% | 4/27/2028 | $ | 846,663 | $ | 2,473 | |||||||||
| Citibank, N.A. | Ring Container Technologies Group LLC, 1M SOFR + 3.50% | $ | 381,684 | 3M SOFR + 1.80% | 8/12/2028 | $ | 387,400 | $ | 4,814 | |||||||||
| Citibank, N.A. | Rough Country, LLC 1L, 1M SOFR + 3.50% | $ | 1,243,355 | 3M SOFR + 1.80% | 7/26/2028 | $ | 1,249,780 | $ | 5,344 | |||||||||
| Citibank, N.A. | Ryan Specialty Group LLC, 1M SOFR + 2.75% | $ | 193,321 | 3M SOFR + 1.80% | 9/1/2027 | $ | 194,230 | $ | 1,056 | |||||||||
| Citibank, N.A. | Scientific Games Holdings LP Term Loan B, 1M SOFR + 3.00% | $ | 693,357 | 3M SOFR + 1.80% | 4/4/2029 | $ | 695,257 | $ | 1,892 | |||||||||
| Citibank, N.A. | Select Medical Corp. Tranche B-1 Term Loan, 1M SOFR + 3.00% | $ | 317,536 | 3M SOFR + 1.80% | 3/6/2027 | $ | 319,663 | $ | 1,766 | |||||||||
| Citibank, N.A. | Simon & Schuster Term Loan B, 3M SOFR + 4.00% | $ | 99,000 | 3M SOFR + 1.80% | 10/30/2030 | $ | 100,229 | $ | 1,138 | |||||||||
| Citibank, N.A. | Sinclair Television Group, Inc. Term Loan B4 1L, 1M SOFR + 3.75% | $ | 563,141 | 3M SOFR + 1.80% | 4/13/2029 | $ | 406,212 | $ | (162,944 | ) | ||||||||
| Citibank, N.A. | Sitel Worldwide Corp., 1M SOFR + 3.75% | $ | 665,229 | 3M SOFR + 1.80% | 8/27/2028 | $ | 517,959 | $ | (148,426 | ) | ||||||||
| Citibank, N.A. | Specialty Building Products Holdings LLC, 1M SOFR + 3.75% | $ | 488,535 | 3M SOFR + 1.80% | 10/15/2028 | $ | 488,136 | $ | (885 | ) | ||||||||
| Citibank, N.A. | Spring Education Group, Inc., 3M SOFR + 4.00% | $ | 136,649 | 3M SOFR + 1.80% | 9/28/2030 | $ | 139,229 | $ | 2,453 | |||||||||
| Citibank, N.A. | Staples, Inc. Term Loan B, 3M SOFR + 5.75% | $ | 411,429 | 3M SOFR + 1.80% | 9/10/2029 | $ | 394,179 | $ | (17,250 | ) | ||||||||
| Citibank, N.A. | Star Parent, Inc. Term Loan B, 3M SOFR + 3.75% | $ | 175,893 | 3M SOFR + 1.80% | 9/30/2030 | $ | 178,642 | $ | 2,468 | |||||||||
| Citibank, N.A. | Summit Materials Incremental Term Loan B, 3M SOFR + 2.50% | $ | 90,682 | 3M SOFR + 1.80% | 1/12/2029 | $ | 91,648 | $ | 949 | |||||||||
| Citibank, N.A. | SupplyOne, Inc. Term Loan B, 1M SOFR + 4.25% | $ | 21,522 | 3M SOFR + 1.80% | 4/19/2031 | $ | 21,800 | $ | 275 | |||||||||
| Citibank, N.A. | Teneo Global LLC Term Loan B, 1M SOFR + 4.75% | $ | 1,010,204 | 3M SOFR + 1.80% | 3/7/2031 | $ | 1,024,449 | $ | 13,955 | |||||||||
| Citibank, N.A. | Tenneco Inc. Cov-Lite Term Loan B, 3M SOFR + 5.00% | $ | 425,000 | 3M SOFR + 1.80% | 11/17/2028 | $ | 480,760 | $ | 44,349 | |||||||||
| Citibank, N.A. | Tony’s Fresh Market / Cardenas Markets Term Loan B 1L, 3M SOFR + 6.75% | $ | 925,900 | 3M SOFR + 1.80% | 8/1/2029 | $ | 986,645 | $ | 49,285 | |||||||||
| Citibank, N.A. | Topgolf Callaway Brands Corp, Term Loan B, 1M SOFR + 3.00% | $ | 565,762 | 3M SOFR + 1.80% | 3/15/2030 | $ | 569,098 | $ | 3,209 | |||||||||
| Citibank, N.A. | TransDigm Inc. Term Loan J, 3M SOFR + 2.50% | $ | 90,455 | 3M SOFR + 1.80% | 2/28/2031 | $ | 90,977 | $ | 504 | |||||||||
| Citibank, N.A. | TransDigm, Inc., Term Loan K, 3M SOFR + 2.75% | $ | 482,671 | 3M SOFR + 1.80% | 3/22/2030 | $ | 494,011 | $ | 11,056 | |||||||||
| Citibank, N.A. | Tronox Finance LLC Term Loan B, 1M SOFR + 2.75% | $ | 246,881 | 3M SOFR + 1.80% | 4/4/2029 | $ | 250,295 | $ | 3,380 | |||||||||
| Citibank, N.A. | TruGreen LP, 1M SOFR + 4.00% | $ | 358,160 | 3M SOFR + 1.80% | 11/2/2027 | $ | 361,340 | $ | (258 | ) | ||||||||
| Citibank, N.A. | TTM Technologies, Inc. Term Loan B 1L, 1M SOFR + 2.75% (b) | $ | 81,881 | 3M SOFR + 1.80% | 5/30/2030 | $ | 83,018 | $ | 1,037 | |||||||||
| Citibank, N.A. | U.S. Anesthesia Partners, Inc., 1M SOFR + 4.25% | $ | 557,238 | 3M SOFR + 1.80% | 10/2/2028 | $ | 538,648 | $ | (19,520 | ) | ||||||||
| Citibank, N.A. | U.S. Silica Company Term Loan B, 1M SOFR + 4.00% | $ | 589,144 | 3M SOFR + 1.80% | 3/25/2030 | $ | 602,383 | $ | 11,882 | |||||||||
| Citibank, N.A. | United Airlines, Inc. Term Loan B, 1M SOFR + 2.75% | $ | 199,000 | 3M SOFR + 1.80% | 2/24/2031 | $ | 200,750 | $ | 1,713 | |||||||||
| Citibank, N.A. | United Natural Foods Inc., Term Loan B, 1M SOFR + 4.75% | $ | 245,000 | 3M SOFR + 1.80% | 5/1/2031 | $ | 251,146 | $ | 6,071 | |||||||||
| Citibank, N.A. | Virtusa Corporation Term Loan 1L, 1M SOFR + 3.25% | $ | 784,161 | 3M SOFR + 1.80% | 2/15/2029 | $ | 793,288 | $ | 7,972 | |||||||||
| Citibank, N.A. | Vistage Worldwide Term Loan, 3M SOFR + 4.75% (b) | $ | 496,241 | 3M SOFR + 1.80% | 7/13/2029 | $ | 501,540 | $ | 5,155 | |||||||||
| Citibank, N.A. | Vivid Seats, Term Loan B, 3M SOFR + 3.25% | $ | 76,923 | 3M SOFR + 1.80% | 2/5/2029 | $ | 77,340 | $ | 417 | |||||||||
| Citibank, N.A. | Watlow Electric Manufacturing Co., 3M SOFR + 3.75% | $ | 984,795 | 3M SOFR + 1.80% | 3/2/2028 | $ | 984,824 | $ | 194 | |||||||||
| Citibank, N.A. | White Cap Supply Holdings, LLC Term Loan B, 1M SOFR + 3.25% | $ | 249,375 | 3M SOFR + 1.80% | 10/19/2029 | $ | 250,711 | $ | 1,336 | |||||||||
| Citibank, N.A. | WhiteWater DBR Holdco, LLC Term Loan B, 3M SOFR + 2.75% | $ | 710,714 | 3M SOFR + 1.80% | 3/3/2031 | $ | 716,632 | $ | 5,795 | |||||||||
| Citibank, N.A. | WildBrain Ltd Initial Term Loan, 1M SOFR + 4.25% (b) | $ | 742,385 | 3M SOFR + 1.80% | 3/24/2028 | $ | 726,919 | $ | (15,665 | ) | ||||||||
| Citibank, N.A. | Worldpay 1L Term Loan, 3M SOFR + 3.00% | $ | 271,364 | 3M SOFR + 1.80% | 1/31/2031 | $ | 273,447 | $ | 2,002 | |||||||||
| Citibank, N.A. | WW International, Inc., 1M SOFR + 3.50% | $ | 1,171,997 | 3M SOFR + 1.80% | 4/13/2028 | $ | 448,294 | $ | (723,664 | ) | ||||||||
| Citibank, N.A. | ZelisRedCard Term Loan B, 1M SOFR + 2.75% | $ | 995,000 | 3M SOFR + 1.80% | 9/28/2029 | $ | 1,000,915 | $ | 5,529 | |||||||||
| $ | 84,521,164 | $ | 82,450,723 | $ | (2,259,288 | ) | ||||||||||||
| (a) | The Fund’s interest in the total return swap transactions are held through a wholly-owned subsidiary of the Fund, RACR-FS, LLC, a Delaware limited liability company. |
| (b) | Security is classified as Level 3 in the Fund’s fair value hierarchy. |
