Alternative Credit Income Fund

Fund Profile

Fund profile

Fund manager

Total assets

$231.14 mm

Liabilities

$13.71 mm

Net assets

$217.43 mm

Number of holdings

114.00

114 Holdings

As of Dec 2024

Security	$Holding	Balance	% of Fund	Category	Position	Country
Tree Line Credit Strategies LP	18.63 mm	19.09 mm shares	8.57	Common equity	Long	USA
US BANK MMDA - USBGFS 9	11.41 mm	11.41 mm shares	5.25	Short-term investment vehicle	Long	USA
BlackRock Global Credit Opportunities Fund, LP	8.23 mm	31.42 mm shares	3.79	Common equity	Long	USA
Monroe Capital Private Credit Fund III LP	7.09 mm	8.65 mm shares	3.26	Common equity	Long	USA
Money Transfer Acquisition Inc., First Lien Term Loan	5.87 mm	6.00 mm principal	2.70	Loan	Long	USA
Upstream Rehabilitation, Inc., Second Lien Term Loan	5.86 mm	7.50 mm principal	2.69	Loan	Long	USA
Pennfoster	5.52 mm	5.52 mm shares	2.54	Preferred equity	Long	USA
Opportunistic Credit Interval Fund	4.65 mm	404.79 k shares	2.14	Common equity	Long	USA
Next Flight Ventures, First Lien Term Loan	4.45 mm	4.57 mm principal	2.05	Loan	Long	USA
Phillips Feed Service, Inc., First Lien Term Loan	4.31 mm	5.25 mm principal	1.98	Loan	Long	USA
Florida Food Products LLC, Second Lien Term Loan	4.30 mm	5.65 mm principal	1.98	Loan	Long	USA
Diamanti, Inc., Subordinated Note	4.15 mm	4.08 mm contracts	1.91	Loan	Long	USA
American Academy Holdings, LLC, Second Lien Term Loan	3.98 mm	4.24 mm principal	1.83	Loan	Long	USA
Newbury Franklin Industrials, LLC, First Lien Term Loan	3.91 mm	4.01 mm principal	1.80	Loan	Long	USA
CPPTL Copper Property CTL Pass Through Trust	3.91 mm	319.52 k shares	1.80	Common equity	Long	USA
Marvel APS, Delayed Draw Term Loan	3.78 mm	3.36 mm principal	1.74	Loan	Long	UK
Kofax, Inc., Second Lien Term Loan	3.59 mm	4.00 mm principal	1.65	Loan	Long	USA
Riddell Inc., First Lien Term Loan	3.57 mm	3.57 mm principal	1.64	Loan	Long	USA
Ancile Solutions, Inc., First Lien Term Loan	3.45 mm	3.45 mm principal	1.59	Loan	Long	USA
Hunter Point Capital Structured Notes Issuer, LLC, Subordinated Delayed Draw Notes	3.17 mm	2.50 mm principal	1.46	Loan	Long	USA
Mount Logan Funding 2018-1 LP	3.05 mm	4.80 mm principal	1.40	ABS-collateralized bond/debt obligation	Long	Cayman Islands
DCert Buyer, Inc. First Amendment Term Loan Refinancing, Second Lien Term Loan	3.04 mm	3.60 mm principal	1.40	Loan	Long	USA
Precisely Software Incorporated, Second Lien Term Loan	2.90 mm	3.00 mm principal	1.34	Loan	Long	USA
Accurate Background, LLC, First Lien Term Loan	2.88 mm	2.90 mm principal	1.32	Loan	Long	USA
JoAnn Inc.	2.73 mm	1.57 mm shares	1.26	Common equity	Long	USA
ARCC Ares Capital Corporation	2.57 mm	117.22 k shares	1.18	Common equity	Long	USA
Synamedia Americas Holdings, Inc., First Lien Term Loan	2.56 mm	2.61 mm principal	1.18	Loan	Long	USA
Spectrio, First Lien Term Loan	2.51 mm	2.78 mm principal	1.15	Loan	Long	USA
Ivanti Software, Inc., Second Lien Initial Term Loan	2.31 mm	4.00 mm principal	1.06	Loan	Long	USA
SouthStreet Securities Holdings, Inc., First Lien Term Loan	2.30 mm	2.70 mm principal	1.06	Loan	Long	USA
FSK FS KKR Capital Corp.	2.28 mm	105.14 k shares	1.05	Common equity	Long	USA
8th Avenue Food & Provisions, Inc., Second Lien Senior Secured Term Loan	2.26 mm	2.50 mm principal	1.04	Loan	Long	USA
BetaNXT, Inc., First Lien Term Loan	2.25 mm	2.34 mm principal	1.03	Loan	Long	USA
VBC Spine Opco LLC (DxTx Pain and Spine LLC), First Lien Term Loan	2.15 mm	2.17 mm principal	0.99	Loan	Long	USA
Cor Leonis Limited, Revolver	2.15 mm	2.15 mm principal	0.99	Loan	Long	USA
EJF CRT 2024-R1 LLC	2.14 mm	2.14 mm principal	0.98	ABS-mortgage backed security	Long	USA
GSO Credit Alpha Fund II LP	2.13 mm	16.81 mm shares	0.98	Common equity	Long	USA
American Academy Holdings, LLC, First Lien Term Loan	2.05 mm	2.04 mm principal	0.94	Loan	Long	USA
Arrow Purchaser, Inc., First Lien Initial Term Loan	2.03 mm	2.06 mm principal	0.93	Loan	Long	USA
WHF WhiteHorse Finance, Inc.	2.01 mm	207.33 k shares	0.92	Common equity	Long	USA
SBSAA Spanish Broadcasting System, Inc.	2.00 mm	3.00 mm principal	0.92	Debt	Long	USA
Lucky Bucks Holdings LLC, Subordinated Note	1.94 mm	10.01 mm principal	0.89	Loan	Long	USA
PhyNet Dermatology LLC, First Lien Term Loan	1.93 mm	1.94 mm principal	0.89	Loan	Long	USA
BrightPet, First Lien Term Loan	1.91 mm	1.95 mm principal	0.88	Loan	Long	USA
Mount Logan Funding 2018-1 LP	1.91 mm	3.00 mm principal	0.88	ABS-collateralized bond/debt obligation	Long	Cayman Islands
SLRC SLR Investment Corp.	1.86 mm	115.21 k shares	0.86	Common equity	Long	USA
Needle Holdings LLC, First Lien Term Loan	1.82 mm	2.35 mm principal	0.84	Loan	Long	USA
VTX Intermediate Holdings, Inc., Second Lien Term Loan	1.82 mm	1.86 mm principal	0.84	Loan	Long	USA
Aperture Dodge 18 LLC	1.77 mm	2.05 mm shares	0.82	Common equity	Long	USA
Epic Staffing Group, First Lien Term Loan	1.75 mm	1.96 mm principal	0.81	Loan	Long	USA
Material Handling Systems, Inc., First Lien Term Loan	1.66 mm	1.89 mm principal	0.76	Loan	Long	USA
H-CA II, LLC, First Lien Term Loan	1.56 mm	1.72 mm principal	0.72	Loan	Long	USA
CVC European Mid-Market Solutions Fund	1.55 mm	14.51 mm shares	0.71	Common equity	Long	USA
Irradiant Intermediate Holdings, LP, First Lien Term Loan	1.46 mm	1.45 mm principal	0.67	Loan	Long	USA
Accurate Background, LLC, First Lien Term Loan	1.45 mm	1.47 mm principal	0.67	Loan	Long	USA
CION CION Investment Corporation	1.38 mm	120.80 k shares	0.63	Common equity	Long	USA
White Oak Equipment Finance 1, LLC	1.32 mm	1.32 mm principal	0.61		Long	USA
PMP OPCO, LLC, First Lien Term Loan	1.19 mm	1.26 mm principal	0.55	Loan	Long	USA
EBSC Holdings LLC, Preferred	1.19 mm	1.08 mm shares	0.55	Preferred equity	Long	USA
Vortex Opco, LLC	1.16 mm	3.14 mm principal	0.53	Debt	Long	Cayman Islands
EagleView Technology Corp., Second Lien Term Loan	1.14 mm	1.50 mm principal	0.52	Loan	Long	USA
VTX Intermediate Holdings, Inc., First Lien Term Loan	1.13 mm	1.14 mm principal	0.52	Loan	Long	USA
CEC Entertainment, Inc.	1.09 mm	79.56 k shares	0.50	Common equity	Long	USA
Colonnade Intermediate, LLC, Delayed Draw Term Loan	1.06 mm	1.47 mm principal	0.49	Loan	Long	USA
Spectrio, Delayed Draw Term Loan	1.05 mm	1.16 mm principal	0.48	Loan	Long	USA
PocketWatch, Inc., First Lien Term Loan	1.04 mm	1.04 mm principal	0.48	Loan	Long	USA
VORTEX OPCO, LLC, First Lien Term Loan (Second Out)	1.01 mm	1.58 mm principal	0.46	Loan	Long	Cayman Islands
Colonnade Intermediate, LLC, First Lien Term Loan	1.00 mm	1.39 mm principal	0.46	Loan	Long	USA
Next Flight Ventures, Delayed Draw Term Loan	927.65 k	956.67 k principal	0.43	Loan	Long	USA
GreenPark Infrastructure, LLC Series M-1	880.78 k	2.56 k shares	0.41	Common equity	Long	USA
Irradiant Intermediate Holdings, LP, Delayed Draw Term Loan	875.48 k	870.00 k principal	0.40	Loan	Long	USA
Tralee CLO II, Ltd.	829.92 k	1.00 mm principal	0.38	ABS-collateralized bond/debt obligation	Long	Cayman Islands
Octagon Investment Partners 36, Ltd.	799.38 k	1.00 mm principal	0.37	ABS-collateralized bond/debt obligation	Long	Cayman Islands
Octagon Investment Partners XIV, Ltd.	784.52 k	2.13 mm principal	0.36	ABS-collateralized bond/debt obligation	Long	Cayman Islands
EJF Financial Debt Strategies Fund LP	778.79 k	750.00 k shares	0.36	Preferred equity	Long	USA
Canyon Capital CLO 2014-1, Ltd.	770.84 k	1.00 mm principal	0.35	ABS-collateralized bond/debt obligation	Long	Cayman Islands
VORTEX OPCO, LLC, First Lien Term Loan (First Out)	747.00 k	720.00 k principal	0.34	Loan	Long	Cayman Islands
VBC Spine Opco LLC (DxTx Pain and Spine LLC), Delayed Draw Term Loan	709.77 k	709.51 k principal	0.33	Loan	Long	USA
BrightPet, Revolver	496.65 k	505.96 k principal	0.23	Loan	Long	USA
PTMN Portman Ridge Finance Corporation	416.74 k	25.50 k shares	0.19	Common equity	Long	USA
Great Lakes Funding II LLC, Series A	412.51 k	553.52 k shares	0.19	Common equity	Long	USA
American Academy Holdings, LLC, Delayed Draw Term Loan	407.28 k	405.26 k principal	0.19	Loan	Long	USA
SouthStreet Securities Holdings, Inc., Warrants	384.95 k	3.40 k contracts	0.18		N/A	USA
PocketWatch, Inc., First Lien Term Loan	366.05 k	366.05 k principal	0.17	Loan	Long	USA
Voya CLO 2014-2, Ltd.	357.09 k	1.00 mm principal	0.16	ABS-collateralized bond/debt obligation	Long	Cayman Islands
Pelham S2K SBIC II, L.P.	355.74 k	359.63 k shares	0.16	Common equity	Long	USA
DeltaDx Limited, LP - Barri/Dolex	316.81 k	322.46 k principal	0.15	Loan	Long	USA
American Academy Holdings. Inc., Common Units	276.60 k	0.05 shares	0.13	Common equity	Long	USA
CEC Entertainment, Inc.	273.63 k	237.94 k shares	0.13		Long	USA
H-Food Holdings LLC / Hearthside Finance Co., Inc.	259.29 k	7.98 mm principal	0.12	Debt	Long	USA
JMP Credit Advisors CLO V, Ltd.	230.60 k	4.49 mm principal	0.11	ABS-collateralized bond/debt obligation	Long	USA
Princeton Medspa Partners, LLC	214.64 k	265.91 k shares	0.10	Preferred equity	Long	USA
GreenPark Infrastructure, LLC Series A	200.00 k	400.00 shares	0.09	Preferred equity	Long	USA
Wesco Aircraft Holdings, Inc.	162.26 k	4.64 mm principal	0.07	Debt	Long	USA
VBC Spine Opco LLC (DxTx Pain and Spine LLC), Revolver	159.40 k	161.29 k principal	0.07	Loan	Long	USA
American Academy Holdings. Inc., Preferred Units	151.01 k	90.97 k shares	0.07	Preferred equity	Long	USA
DxTx Pain and Spine LLC, Common Units	139.38 k	98.85 k shares	0.06	Common equity	Long	USA
JMP Credit Advisors CLO IV, Ltd.	122.85 k	4.84 mm principal	0.06	ABS-collateralized bond/debt obligation	Long	USA
Saranac CLO VII, Ltd.	114.95 k	500.00 k principal	0.05	ABS-collateralized bond/debt obligation	Long	Jersey
Colonnade Intermediate, LLC, First Lien Term Loan	110.73 k	153.68 k principal	0.05	Loan	Long	USA
Princeton Medspa Partners, LLC	11.35 k	0.01 contracts	0.01		Long	USA
PhyNet Dermatology LLC, Delayed Draw Term Loan	7.76 k	0.00 principal	0.00	Loan	Long	USA
Irradiant Intermediate Holdings, LP, Delayed Draw Term Loan	3.65 k	0.00 principal	0.00	Loan	Long	USA
Tralee CLO II, Ltd.	139.00	1.00 mm principal	0.00	ABS-collateralized bond/debt obligation	Long	Cayman Islands
VTX Holdings, LLC	0.93	932.47 k shares	0.00	Common equity	Long	USA
Newbury Franklin Industrials, LLC, Delayed Draw Term Loan	0	0.00 principal	0.00	Loan	Long	USA
Diamanti, Inc., Class A	0	146.41 k contracts	0.00		N/A	USA
Riddell Inc., Delayed Draw Term Loan	0	0.00 principal	0.00	Loan	Long	USA
Monitronics - Escrow	0	2.65 mm principal	0.00	Debt	Long	USA
Princeton Medspa Partners, LLC	0	250.00 k contracts	0.00	Equity derivative	N/A	USA
Next Flight Ventures	0	88.00 shares	0.00	Common equity	Long	USA
NFV Co-Pilot, Inc.	0	441.00 shares	0.00	Common equity	Long	USA
PMP OPCO, LLC, Revolver	-7.55 k	0.00 principal	-0.00	Loan	Long	USA
PMP OPCO, LLC, Delayed Draw Term Loan	-36.87 k	0.00 principal	-0.02	Loan	Long	USA