NPORT-EX 2 oxlc.htm SCHEDULE OF INVESTMENTS

OXFORD LANE CAPITAL CORP.
SCHEDULE OF INVESTMENTS
June 30, 2021
(Unaudited)
		COMPANY/INVESTMENT(1)(13)(14)		ACQUISITION DATE(15)		PRINCIPAL AMOUNT		COST		FAIR VALUE(2)		% of Net Assets
Collateralized Loan Obligation - Debt Investments
	Structured Finance - Debt Investments
		Allegro CLO II-S, Ltd.
		CLO secured notes - Class E(3)(6), 8.01% (LIBOR + 7.82%, due October 21, 2028)		06/24/2020		$      4,430,000		$              3,485,348		$           4,031,300
		BlueMountain CLO 2018-1 Ltd.
		CLO secured notes - Class F(3)(6), 8.40% (LIBOR + 8.21%, due July 30, 2030)		11/18/2019		8,500,000		6,048,984		7,480,000
		Cathedral Lake II, Ltd.
		CLO secured notes - Class E1R(3)(6), 7.43% (LIBOR + 7.25%, due July 16, 2029)		11/19/2019		1,500,000		1,289,098		1,431,600
		Longfellow Place CLO, Ltd.
		CLO secured notes - Class FRR(3)(6), 8.68% (LIBOR + 8.50%, due April 15, 2029)		03/26/2019		4,137,500		2,923,448		2,836,256
		Mountain Hawk II CLO, Ltd.
		CLO secured notes - Class E(3)(6), 4.99% (LIBOR + 4.80%, due July 22, 2024)		03/08/2017		2,609,964		2,269,041		261
		Man GLG US CLO 2018-2 Ltd.
		CLO secured notes - Class ER(3)(6), 8.43% (LIBOR + 8.25%, due October 15, 2028)		02/18/2021		1,475,000		1,329,391		1,332,073
		Midocean Credit CLO VI
		CLO secured notes - Class F(3)(6)(9), 8.20% (LIBOR + 8.01%, due April 20, 2033)		03/12/2021		4,000,000		3,213,142		3,644,400
		OZLM XIII, Ltd.
		CLO secured notes - Class E(3)(6), 6.69% (LIBOR + 6.50%, due July 30, 2027)		09/26/2019		2,000,000		1,594,163		1,729,400
		Venture XX CLO, Limited
		CLO secured notes - Class F(3)(6), 6.48% (LIBOR + 6.30%, due April 15, 2027)		03/03/2021		6,450,000		5,358,736		5,742,435
	Total Structured Finance - Debt Investments							$            27,511,351		$         28,227,725		3.96%
		Total Collateralized Loan Obligation - Debt Investments						$            27,511,351		$         28,227,725		3.96%
Collateralized Loan Obligation - Equity Investments
	Structured Finance - Equity Investments
		Allegro CLO II-S, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 11.18%, maturity October 21, 2028)		02/06/2020		$    20,800,000		$              7,148,713		$           6,240,000
		ALM XVII, Ltd.
		CLO subordinated notes(5)(7)(10), (Estimated yield 33.96%, maturity January 15, 2028)		03/04/2019		6,500,000		19,377		91,000
		Anchorage Capital CLO 1-R, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 31.36%, maturity April 13, 2031)		08/13/2020		10,000,000		5,998,488		7,029,874
		Anchorage Capital CLO 4-R, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 14.72%, maturity January 28, 2031)		05/20/2019		8,625,000		6,238,074		6,382,500
		Anchorage Capital CLO 5-R, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 22.18%, maturity January 15, 2030)		07/16/2019		27,316,000		18,426,901		19,521,166
		Anchorage Capital CLO 7, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 32.53%, maturity January 28, 2031)		06/02/2020		12,750,000		5,901,837		7,777,500
		Anchorage Capital CLO 13, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 24.61%, maturity April 15, 2034)		08/24/2020		10,000,000		6,004,133		7,844,171
		Anchorage Capital CLO 17, Ltd.
		CLO subordinated notes(5)(7)(9), (Estimated yield 18.50%, maturity July 15, 2034)		06/04/2021		31,610,000		26,456,461		26,099,207
		Apex Credit CLO 2015-II, Ltd. (fka: JFIN CLO 2015-II Ltd.)
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity October 17, 2026)		11/22/2016		5,750,000		3,979,818		2,686,464
		(Continued on next page)

OXFORD LANE CAPITAL CORP.
SCHEDULE OF INVESTMENTS - (continued)
June 30, 2021
(Unaudited)
		COMPANY/INVESTMENT(1)(13)(14)		ACQUISITION DATE(15)		PRINCIPAL AMOUNT		COST		FAIR VALUE(2)		% of Net Assets
Collateralized Loan Obligation - Equity Investments - (continued)
	Structured Finance - Equity Investments (continued)
		Apex Credit CLO 2018 Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 22.89%, maturity April 25, 2031)		03/14/2018		$    12,420,000		$              7,390,671		$           6,437,681
		Apex Credit CLO 2019 Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 19.46%, maturity April 18, 2032)		05/13/2019		17,500,000		13,563,644		11,463,488
		Apex Credit CLO 2019-II Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 30.58%, maturity October 25, 2032)		10/27/2020		4,500,000		2,643,693		2,920,907
		Arch Street CLO, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity October 20, 2028)		03/20/2019		5,250,000		2,770,837		1,470,000
		Ares XXVII CLO, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 16.34%, maturity July 28, 2029)		03/06/2019		17,000,000		7,758,537		6,221,867
		Ares XXXVII CLO Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 25.37%, maturity October 15, 2030)		02/12/2019		25,000,000		15,563,595		14,094,760
		Ares XL CLO Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 23.23%, maturity January 15, 2029)		11/30/2017		37,433,000		17,226,250		14,454,121
		Ares XLII CLO Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 22.21%, maturity January 22, 2028)		06/23/2021		21,910,000		10,527,141		10,470,887
		Ares LVIII CLO Ltd.
		CLO subordinated notes(5)(7)(9), (Estimated yield 21.77%, maturity January 15, 2033)		11/20/2020		24,000,000		15,079,513		18,129,082
		Atrium XV
		CLO subordinated notes(5)(7)(11), (Estimated yield 18.69%, maturity January 23, 2031)		09/17/2019		21,000,000		14,843,859		14,910,000
		Bain Capital Credit CLO 2018-2, Limited
		CLO subordinated notes(5)(7), (Estimated yield 18.82%, maturity July 19, 2031)		05/14/2021		4,000,000		2,474,757		2,480,000
		Barings CLO Ltd. 2021-1
		CLO subordinated notes(5)(7)(9), (Estimated yield 21.68%, maturity April 25, 2034)		03/04/2021		5,400,000		4,558,760		4,752,000
		Battalion CLO VI Ltd.
		CLO subordinated notes(5)(7)(10), (Estimated yield 0.00%, maturity October 17, 2026)		01/24/2018		5,000,000		400,486		60,000
		Battalion CLO VII Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity July 17, 2028)		07/03/2018		26,900,000		13,021,695		9,684,000
		Benefit Street Partners CLO V Ltd.
		CLO  preference shares (5)(7)(10), (Estimated yield 0.00%, maturity October 20, 2026)		07/27/2015		11,500,000		594,619		333,500
		BlueMountain Fuji US CLO II Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 22.95%, maturity October 20, 2030)		02/13/2020		25,928,606		14,321,904		16,075,736
		BlueMountain CLO 2015-4 Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 52.74%, maturity April 20, 2030)		07/22/2020		7,644,700		3,591,913		4,510,373
		BlueMountain CLO 2016-3 Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 30.84%, maturity November 15, 2030)		08/18/2020		7,697,500		4,132,609		4,695,475
		BlueMountain CLO 2018-1 Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 18.30%, maturity July 30, 2030)		01/14/2020		13,000,000		6,899,289		5,850,000
		BlueMountain CLO 2018-3 Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 37.22%, maturity October 25, 2030)		06/11/2020		19,325,000		9,065,703		10,435,500
		B&M CLO 2014-1 LTD
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity April 16, 2026)		10/30/2014		22,000,000		1,872,796		2,200
		Carlyle Global Market Strategies CLO 2013-2, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity January 18, 2029)		03/19/2013		16,098,067		7,796,649		5,213,305
		Carlyle Global Market Strategies CLO 2014-5, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 11.34%, maturity July 15, 2031)		03/27/2019		7,134,333		3,647,534		2,925,077
		Carlyle US CLO 2017-1, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 20.69%, maturity April 20, 2031)		01/27/2021		4,425,000		2,422,277		2,433,750
		Carlye US CLO 2020-2, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 21.73%, maturity October 25, 2031)		10/21/2020		17,225,000		11,181,414		12,918,750
		(Continued on next page)

OXFORD LANE CAPITAL CORP.
SCHEDULE OF INVESTMENTS - (continued)
June 30, 2021
(Unaudited)
		COMPANY/INVESTMENT(1)(13)(14)		ACQUISITION DATE(15)		PRINCIPAL AMOUNT		COST		FAIR VALUE(2)		% of Net Assets
Collateralized Loan Obligation - Equity Investments - (continued)
	Structured Finance - Equity Investments (continued)
		Carlyle US CLO 2021-B, Ltd.
		CLO subordinated notes(4)(5)(7), (Estimated yield 13.95%, maturity February 05, 2023)		02/09/2021		$    20,625,000		$            20,625,000		$         20,625,000
		Cathedral Lake CLO 2013, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 3.91%, maturity October 15, 2029)		05/31/2018		6,350,000		2,354,252		1,270,000
		Cathedral Lake II, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity July 16, 2029)		05/31/2018		14,862,200		7,770,177		4,458,660
		Cedar Funding XI CLO, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 25.86%, maturity May 29, 2032)		10/27/2020		11,250,000		5,955,531		8,760,938
		CIFC Funding 2014-III, Ltd.
		CLO income notes(5)(7)(11), (Estimated yield 8.09%, maturity October 22, 2031)		03/06/2018		18,225,000		9,129,302		7,290,000
		Crestline Denali CLO XVI, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 22.46%, maturity January 20, 2030)		06/10/2021		23,000,000		13,314,361		13,144,500
		Dryden 33 Senior Loan Fund
		CLO subordinated notes(5)(7)(11), (Estimated yield 28.47%, maturity April 15, 2029)		11/18/2020		9,600,000		4,017,572		4,992,000
		East West Investment Management CLO 2019-1, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity January 20, 2033)		11/20/2019		13,212,500		11,369,159		12,089,438
		Eaton Vance CLO 2014-1, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 25.05%, maturity July 15, 2030)		01/15/2021		10,050,000		5,127,551		5,118,011
		Elevation CLO 2015-4, Ltd.
		CLO subordinated notes(5)(7)(10), (Estimated yield 0.00%, maturity April 18, 2027)		09/05/2019		19,350,000		1,918,474		2,205,900
		Elevation CLO 2020-11, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 20.41%, maturity April 15, 2033)		02/21/2020		24,000,000		21,179,741		20,640,000
		Elevation CLO 2021-12, Ltd.
		CLO subordinated notes(5)(7)(9), (Estimated yield 22.81%, maturity April 20, 2032)		02/11/2021		27,190,000		20,496,733		20,936,300
		Highbridge Loan Management 3-2014, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity July 18, 2029)		06/19/2020		20,000,000		6,993,933		7,000,000
		(Continued on next page)

OXFORD LANE CAPITAL CORP.
SCHEDULE OF INVESTMENTS - (continued)
June 30, 2021
(Unaudited)
		COMPANY/INVESTMENT(1)(13)(14)		ACQUISITION DATE(15)		PRINCIPAL AMOUNT		COST		FAIR VALUE(2)		% of Net Assets
Collateralized Loan Obligation - Equity Investments - (continued)
	Structured Finance - Equity Investments (continued)
		Jamestown CLO IV, Ltd.
		CLO subordinated notes(5)(7)(10), (Estimated yield 0.00%, maturity July 15, 2026)		11/16/2017		$      9,500,000		$              1,855,668		$              266,000
		KVK CLO 2013-1, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 31.53%, maturity January 14, 2028)		09/22/2020		3,950,000		892,680		967,750
		Longfellow Place CLO, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity April 15, 2029)		01/11/2018		19,640,000		6,703,769		1,475,708
		Madison Park Funding XIII, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity April 19, 2030)		09/17/2019		21,250,000		9,869,883		9,775,000
		Madison Park Funding XV, Ltd.
		CLO subordinated notes(5)(7)(10), (Estimated yield 22.35%, maturity January 27, 2026)		03/07/2019		34,300,000		1,861,555		6,379,800
		Madison Park Funding XXIV, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 11.22%, maturity October 20, 2029)		03/28/2019		3,568,750		2,265,688		1,962,813
		Madison Park Funding XXX, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 16.73%, maturity April 15, 2047)		02/23/2018		17,550,000		12,769,081		11,044,109
		Madison Park Funding XXXVII, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 17.69%, maturity July 15, 2032)		04/08/2021		2,500,000		2,240,216		2,215,071
		Madison Park Funding XXXVIII, Ltd.
		CLO subordinated notes(5)(7)(9)(11), (Estimated yield 18.71%, maturity July 17, 2034)		05/14/2021		21,250,000		18,325,756		19,550,000
		Madison Park Fund XLI, Ltd. (fka: Atrium XII CLO)
		CLO subordinated notes(5)(7), (Estimated yield 20.55%, maturity April 22, 2027)		10/08/2015		34,762,500		16,418,762		17,033,625
		Man GLG US CLO 2018-2 Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 26.95%, maturity October 15, 2028)		02/18/2021		32,000,000		5,669,559		5,440,000
		Marble Point CLO XI Ltd.
		CLO income notes(5)(7), (Estimated yield 7.34%, maturity December 18, 2047)		05/07/2019		8,500,000		4,883,167		3,400,000
		Midocean Credit CLO II
		CLO income notes(5)(7), (Estimated yield 27.07%, maturity January 29, 2030)		06/17/2021		13,600,000		3,723,871		3,706,000
		Midocean Credit CLO III
		CLO income notes(5)(7), (Estimated yield 0.00%, maturity April 21, 2031)		04/24/2019		16,650,000		7,356,303		2,331,000
		Midocean Credit CLO VI
		CLO income notes(5)(7), (Estimated yield 17.25%, maturity April 20, 2033)		11/08/2016		29,700,000		24,772,272		20,790,000
		Mountain Hawk II CLO, Ltd.
		CLO secured notes (5)(7)(10), (Estimated yield 0.00%, maturity July 20, 2024)		11/15/2013		25,670,000		3,277,699		-
		Mountain View CLO 2014-1 Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity October 15, 2026)		08/08/2018		15,000,000		2,506,803		1,500
		Nassau 2017-II Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity January 15, 2030)		09/17/2019		24,400,000		13,328,697		9,272,000
		NorthWoods Capital XIV-B, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 20.38%, maturity November 13, 2031)		12/18/2019		4,250,000		2,531,049		2,125,000
		Neuberger Berman CLO XVI-S, Ltd.
		CLO subordinated notes(5)(7)(9), (Estimated yield 22.58%, maturity April 15, 2034)		03/04/2021		5,000,000		4,561,856		4,800,000
		Nyack Park CLO, Ltd.
		CLO subordinated notes(4)(5)(7), (Estimated yield 13.69%, maturity February 05, 2022)		02/11/2021		17,000,000		17,000,000		17,000,000
		Ocean Trails CLO VI
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity July 15, 2028)		10/30/2018		4,000,000		2,941,265		1,951,532
		Ocean Trails CLO VII
		CLO subordinated notes(5)(7)(11), (Estimated yield 50.49%, maturity April 17, 2030)		10/21/2020		5,000,000		2,095,836		2,800,000
		Octagon Investment Partners XVII, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 24.86%, maturity January 25, 2031)		05/18/2021		2,570,100		903,335		950,937
		(Continued on next page)

OXFORD LANE CAPITAL CORP.
SCHEDULE OF INVESTMENTS - (continued)
June 30, 2021
(Unaudited)
		COMPANY/INVESTMENT(1)(13)(14)		ACQUISITION DATE(15)		PRINCIPAL AMOUNT		COST		FAIR VALUE(2)		% of Net Assets
Collateralized Loan Obligation - Equity Investments - (continued)
	Structured Finance - Equity Investments (continued)
		Octagon Investment Partners XXII, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity January 22, 2030)		06/07/2018		$    15,000,000		$              7,471,594		$           7,020,000
		Octagon Investment Partners 40, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 13.97%, maturity April 20, 2031)		02/14/2019		36,000,000		30,136,649		28,440,000
		Octagon 57, Ltd.
		CLO subordinated notes(4)(5)(7)(11), (Estimated yield 16.50%, maturity April 28, 2023)		05/12/2021		3,187,500		3,187,500		3,187,500
		OFSI Fund VII, Ltd.
		CLO subordinated notes(5)(7)(10), (Estimated yield 0.00%, maturity October 18, 2026)		08/05/2014		28,840,000		11,615,625		259,560
		OFSI BSL VIII, Ltd.
		CLO preferred shares(5)(7), (Estimated yield 0.00%, maturity August 16, 2029)		04/26/2019		8,500,000		5,150,308		3,315,000
		OHA Loan Funding 2012-1, Ltd.
		CLO subordinated notes(5)(7)(10), (Estimated yield 0.00%, maturity January 23, 2027)		04/03/2019		7,400,000		-		29,600
		OZLM Funding III, Ltd.
		CLO subordinated notes(5)(7)(10), (Estimated yield 0.00%, maturity January 22, 2029)		08/24/2018		12,000,000		2,241,406		444,000
		OZLM VII, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 4.82%, maturity July 17, 2029)		01/29/2020		21,891,673		5,604,000		3,502,668
		OZLM XIII, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity July 30, 2027)		03/19/2018		27,000,000		10,366,338		5,400,000
		OZLM XIV, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity January 15, 2029)		12/07/2015		31,810,472		14,148,774		16,611,490
		Park Avenue Institutional Advisers CLO Ltd 2018-1
		CLO subordinated notes(5)(7), (Estimated yield 12.56%, maturity October 20, 2031)		10/11/2019		3,000,000		2,202,687		2,025,000
		Point Au Roche Park CLO, Ltd.
		CLO subordinated notes(5)(7)(9), (Estimated yield 17.29%, maturity July 20, 2034)		05/28/2021		16,320,000		13,879,107		13,756,177
		PPM CLO 2 Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 22.07%, maturity April 16, 2032)		12/22/2020		7,000,000		3,918,047		4,760,000
		Race Point IX CLO, Limited
		CLO subordinated notes(5)(7), (Estimated yield 28.50%, maturity October 15, 2030)		06/23/2021		2,394,474		897,513		891,942
		Regatta XVIII Funding Ltd.
		CLO subordinated notes(5)(7)(9)(11), (Estimated yield 23.62%, maturity January 15, 2034)		02/18/2021		28,886,856		24,185,374		27,803,599
		Rockford Tower CLO 2019-2, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 19.48%, maturity August 20, 2032)		09/11/2020		5,000,000		3,248,111		3,750,000
		Rockland Park CLO, Ltd.
		CLO subordinated notes(5)(7)(9), (Estimated yield 17.83%, maturity April 20, 2034)		04/26/2021		28,750,000		22,823,509		22,137,500
		Shackleton 2013-IV-R CLO, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 30.25%, maturity April 13, 2031)		08/14/2018		24,500,000		10,686,667		11,070,003
		Shackleton 2014-V-R CLO, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 23.84%, maturity May 07, 2031)		09/17/2019		20,750,000		10,980,549		10,997,500
		Sound Point CLO V-R, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 24.68%, maturity July 18, 2031)		05/04/2021		37,500,000		8,768,437		8,625,000
		Sound Point CLO VI-R, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 3.86%, maturity October 20, 2031)		05/01/2018		24,656,983		8,429,254		5,424,536
		Sound Point CLO XIX, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 19.82%, maturity April 15, 2031)		06/17/2021		5,750,000		3,193,055		3,167,379
		Telos CLO 2013-3, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity July 17, 2026)		01/25/2013		14,332,210		6,296,614		716,611
		Telos CLO 2013-4, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity January 17, 2030)		07/11/2013		14,350,000		6,229,507		2,635,907
		Telos CLO 2014-6, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity January 17, 2027)		11/08/2017		21,400,000		9,166,640		1,926,000
		(Continued on next page)

OXFORD LANE CAPITAL CORP.
SCHEDULE OF INVESTMENTS - (continued)
June 30, 2021
(Unaudited)
		COMPANY/INVESTMENT(1)(13)(14)		ACQUISITION DATE(15)		PRINCIPAL AMOUNT		COST		FAIR VALUE(2)		% of Net Assets
Collateralized Loan Obligation - Equity Investments - (continued)
	Structured Finance - Equity Investments (continued)
		THL Credit Wind River 2017-1 CLO Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity April 18, 2036)		02/02/2017		$    14,200,000		$              9,277,465		$           8,520,000
		THL Credit Wind River 2017-4 CLO Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 16.62%, maturity November 20, 2030)		10/30/2018		7,000,000		5,685,724		5,390,000
		Wind River 2021-2 CLO Ltd.
		CLO subordinated notes(5)(7)(9), (Estimated yield 19.54%, maturity July 20, 2034)		05/14/2021		30,700,000		24,023,907		27,016,000
		Tralee CLO II, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity July 20, 2029)		06/06/2018		6,300,000		2,151,851		630,000
		Tralee CLO IV, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity January 20, 2030)		12/21/2017		13,270,000		8,857,960		3,981,000
		Venture XV CLO, Limited
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity July 15, 2032)		01/31/2018		9,450,126		5,388,474		2,102,653
		Venture XVII CLO, Limited
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity April 15, 2027)		01/09/2017		17,000,000		8,425,620		1,988,721
		Venture XX CLO, Limited
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity April 15, 2027)		07/27/2018		7,200,000		2,486,811		1,224,000
		Venture XXI CLO, Limited
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity July 15, 2027)		08/16/2017		30,000,000		15,524,549		3,600,000
		Venture XXV CLO, Limited
		CLO subordinated notes(5)(7), (Estimated yield 59.13%, maturity April 20, 2029)		09/25/2020		13,750,000		4,122,759		6,239,750
		Venture 37 CLO, Limited
		CLO subordinated notes(5)(7), (Estimated yield 13.08%, maturity July 15, 2032)		05/28/2019		8,500,000		6,651,319		5,642,300
		Venture 40 CLO, Limited
		CLO subordinated notes(5)(7)(11), (Estimated yield 23.79%, maturity November 24, 2031)		10/16/2020		17,580,000		14,186,911		15,118,800
		Venture 42 CLO, Limited
		CLO subordinated notes(5)(7)(9), (Estimated yield 21.21%, maturity April 15, 2034)		03/15/2021		12,000,000		10,285,248		9,720,000
		Vibrant CLO III, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 31.27%, maturity October 20, 2031)		02/05/2019		26,250,000		10,200,987		12,140,625
		Vibrant CLO VIII, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 25.76%, maturity January 20, 2031)		11/30/2020		5,000,000		2,571,699		2,500,000
		Wellfleet 2016-2 CLO, Ltd.
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity October 20, 2028)		09/28/2016		10,000,000		6,695,611		4,600,000
		Wellfleet CLO X, Ltd.
		CLO subordinated notes(5)(7)(11), (Estimated yield 21.49%, maturity July 20, 2032)		12/03/2020		7,310,000		4,594,899		5,482,500
		West CLO 2014-1, Ltd.
		CLO subordinated notes(5)(7)(10)(11), (Estimated yield 0.00%, maturity July 18, 2026)		11/16/2018		20,250,000		1,873,859		749,250
		ZAIS CLO 7, Limited
		CLO subordinated notes(5)(7), (Estimated yield 34.17%, maturity April 15, 2030)		06/29/2021		10,900,000		4,067,853		4,087,500
		Zais CLO 8, Limited
		CLO subordinated notes(5)(7)(11), (Estimated yield 0.00%, maturity April 15, 2029)		02/23/2018		3,000,000		2,000,689		1,080,000
		Zais CLO 9, Limited
		CLO subordinated notes(5)(7), (Estimated yield 0.00%, maturity July 20, 2031)		06/19/2018		12,700,000		9,329,851		5,461,000

OXFORD LANE CAPITAL CORP.
SCHEDULE OF INVESTMENTS - (continued)
June 30, 2021
(Unaudited)
	COMPANY/INVESTMENT(1)(13)(14)		ACQUISITION DATE(15)		PRINCIPAL AMOUNT		COST		FAIR VALUE(2)		% of Net Assets
Collateralized Loan Obligation - Equity Investments - (continued)
	Structured Finance - Equity Investments (continued)
	York CLO-5 Ltd.
	CLO subordinated notes(5)(7), (Estimated yield 19.57%, maturity October 22, 2031)		05/20/2021		$    21,500,000		$            13,240,803		$         12,900,000
	Other CLO equity related investments
	CLO other(8)		Various(16)				6,164,256		7,651,106
	Total Structured Finance - Equity Investments						$          975,166,873		$       876,105,110		123.01%
	Total Collateralized Loan Obligation - Equity Investments						$          975,166,873		$       876,105,110		123.01%
	Total Investments						$       1,002,678,224		$       904,332,835		126.97%
	Cash Equivalents
	First American Government Obligations Fund(12)						$            47,390,139		$         47,390,139
	Total Cash Equivalents						$            47,390,139		$         47,390,139		6.65%
	Total Investments and Cash Equivalents						$       1,050,068,363		$       951,722,974		133.62%

(1)	Oxford Lane Capital Corp. (“OXLC”, “We”, “Our”) does not "control" and are not an "affiliate" of any of our portfolio companies, each as defined in the Investment Company Act of 1940, as amended (the "1940 Act").
	In general, under the 1940 Act, we would be presumed to "control" a portfolio company if we owned more than 25% of its voting securities and would be an "affiliate" of a portfolio company if we owned 5% or more of its voting securities.
(2)	Fair value is determined in good faith by the Board of Directors of the Fund.
(3)	Cost value reflects accretion of original issue discount or market discount.
(4)	The subordinated shares represent an investment in a warehouse facility, which is a financing structure intended to aggregate loans that may be used to form the basis of a CLO vehicle.
(5)	Cost value reflects accretion of effective yield less any cash distributions received or entitled to be received from CLO equity investments.
(6)	The CLO secured notes generally bear interest at a rate determined by reference to three-month LIBOR which resets quarterly.  For each CLO debt investment, the rate
	provided is as of June 30, 2021.
(7)	The CLO subordinated notes, preferred shares and income notes are considered equity positions in the CLO funds. Equity investments are entitled to recurring distributions which are generally equal to
	the remaining cash flow of the payments made by the underlying fund's securities less contractual payments to debt holders and fund expenses.  The estimated yield indicated is based upon
	a current projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination.  Such projections are periodically
	reviewed and adjusted, and the estimated yield may not ultimately be realized.
(8)	Fair value represents discounted cash flows associated with fees earned from CLO equity investments.
(9)	Investment has not made inaugural distribution for relevant period end. Please refer to "Note 2. Summary of Significant Accounting Policies - Investment Income." in OXLC's most recently filed Form N-CSR for the year ended March 31, 2021.
(10)	The CLO equity investment was optionally redeemed. Please refer to "Note 2. Summary of Significant Accounting Policies - Securities Transactions." in OXLC's most recently filed Form N-CSR for the year ended March 31, 2021.
(11)	Investment is co-invested with the Fund’s affiliates. See “Note 4. Related Party Transactions.” in OXLC's most recently filed Form N-CSR for the year ended March 31, 2021.
(12)	Represents cash equivalents held in a money market account as of June 30, 2021.
(13)	The fair value of the investment was determined using significant unobservable inputs. See “Note 3. Fair Value.” in OXLC's most recently filed Form N-CSR for the year ended March 31, 2021.
(14)	The Fund generally acquires its investments in private transactions exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”).
	Unless otherwise noted, all of the Fund's investments are deemed to be “restricted securities” under the Securities Act.
(15)	Acquisition date represents the initial date of purchase.
(16)	Acquisition date includes multiple investments purchased from August 2014 through June 30, 2021.
(17)	Investment represents greater than 5% of net assets.