<SEC-DOCUMENT>0001145549-25-034599.txt : 20250529
<SEC-HEADER>0001145549-25-034599.hdr.sgml : 20250529
<ACCEPTANCE-DATETIME>20250529112234
ACCESSION NUMBER:		0001145549-25-034599
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250529
DATE AS OF CHANGE:		20250529
PERIOD START:           	20251231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOURCE CAPITAL /DE/
		CENTRAL INDEX KEY:			0000091847
		ORGANIZATION NAME:           	
		EIN:				941679410
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-01731
		FILM NUMBER:		25999486

	BUSINESS ADDRESS:	
		STREET 1:		235 W. GALENA STREET
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53212
		BUSINESS PHONE:		626-385-5777

	MAIL ADDRESS:	
		STREET 1:		235 W. GALENA STREET
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53212

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOURCE CAPITAL INC /DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMC INVESTMENT CORP
		DATE OF NAME CHANGE:	19721123
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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          <maturityDt>2029-10-19</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GULFPORT ENERGY Corp. CONV PFD Series A   /</name>
        <lei>N/A</lei>
        <title>GULFPORT ENERGY Corp. CONV PFD Series A   /</title>
        <cusip>402635601</cusip>
        <identifiers>
          <ticker value="40263560"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23367.82</valUSD>
        <pctVal>0.0065043357</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HPS CORPORATE LENDING FU</name>
        <lei>549300ZS7IHUA6FKFV61</lei>
        <title>HPS Corporate Lending Fund</title>
        <cusip>40440VAF2</cusip>
        <identifiers>
          <isin value="US40440VAF22"/>
          <ticker value="40440VAF"/>
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        <balance>520000</balance>
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        <curCd>USD</curCd>
        <valUSD>534578.72</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HRT DNT / HRT DNT FIN</name>
        <lei>N/A</lei>
        <title>Heartland Dental LLC / Heartland Dental Finance Corp.</title>
        <cusip>42239PAB5</cusip>
        <identifiers>
          <isin value="US42239PAB58"/>
          <ticker value="42239PAB"/>
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        <balance>1796000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1885800</valUSD>
        <pctVal>0.5249046053</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hotwire Funding LLC</name>
        <lei>254900ZCO90MCT7Y9348</lei>
        <title>Hotwire Funding LLC</title>
        <cusip>44148JAC3</cusip>
        <identifiers>
          <isin value="US44148JAC36"/>
          <ticker value="44148JAC"/>
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        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>724473.53</valUSD>
        <pctVal>0.2016542010</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
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        <debtSec>
          <maturityDt>2051-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.4590</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ivy Hill Middle Market Credit</name>
        <lei>N/A</lei>
        <title>Ivy Hill Middle Market Credit Fund XX Ltd.</title>
        <cusip>46604JAA9</cusip>
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          <isin value="US46604JAA97"/>
          <ticker value="46604JAA"/>
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        <balance>2380000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2380285.60</valUSD>
        <pctVal>0.6625426203</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-20</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Madison Avenue Trust</name>
        <lei>N/A</lei>
        <title>Eleven Madison Trust 2015-11MD Mortgage Trust</title>
        <cusip>556227AA4</cusip>
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          <isin value="US556227AA48"/>
          <ticker value="556227AA"/>
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        <balance>344000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>338696.52</valUSD>
        <pctVal>0.0942747710</pctVal>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.5548</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IFF</name>
        <lei>BZLRL03D3GPGMOGFO832</lei>
        <title>International Flavors &amp; Fragrances, Inc.</title>
        <cusip>459506101</cusip>
        <identifiers>
          <isin value="US4595061015"/>
          <ticker value="IFF"/>
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        <balance>77685</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6029132.85</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JDE Peet's NV</name>
        <lei>724500EHG519SE5ZRT89</lei>
        <title>JDE Peet's N.V.</title>
        <cusip>999999999</cusip>
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          <isin value="NL0014332678"/>
          <ticker value="JDEP NA"/>
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        <balance>167093</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.9248"/>
        <valUSD>3653352.57</valUSD>
        <pctVal>1.0168955291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jett Texas LLC SOURCE   /</name>
        <lei>N/A</lei>
        <title>Jett Texas LLC SOURCE   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="JETTTEXA"/>
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        <balance>6000000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>6000000</valUSD>
        <pctVal>1.6700751044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kinder Morgan Inc</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
        <cusip>49456B101</cusip>
        <identifiers>
          <isin value="US49456B1017"/>
          <ticker value="KMI"/>
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        <balance>78127</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2228963.31</valUSD>
        <pctVal>0.6204226888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CarMax Inc</name>
        <lei>N/A</lei>
        <title>CarMax, Inc.</title>
        <cusip>143130102</cusip>
        <identifiers>
          <isin value="US1431301027"/>
          <ticker value="KMX"/>
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        <balance>23348</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1819276.16</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Marriott International Inc/MD</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc. - Class A</title>
        <cusip>571903202</cusip>
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          <isin value="US5719032022"/>
          <ticker value="MAR"/>
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        <balance>8054</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1918462.80</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mcdermott International Ltd</name>
        <lei>54930004RAXI4B3L4752</lei>
        <title>Mcdermott International Ltd.</title>
        <cusip>G5924V148</cusip>
        <identifiers>
          <isin value="BMG5924V1485"/>
          <ticker value="MCDIF"/>
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        <balance>84956.3360</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1104432.37</valUSD>
        <pctVal>0.3074141676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Meta Platforms Inc</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms, Inc. - Class A</title>
        <cusip>30303M102</cusip>
        <identifiers>
          <isin value="US30303M1027"/>
          <ticker value="META"/>
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        <balance>10387</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5986651.32</valUSD>
        <pctVal>1.6663595547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MSILF Treasury Portfolio</name>
        <lei>549300D1XR6GP7EZ0T47</lei>
        <title>MSILF Treasury Portfolio - Class Institutional USD INC</title>
        <cusip>61747C582</cusip>
        <identifiers>
          <isin value="US61747C5821"/>
          <ticker value="MISXX"/>
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        <balance>62736571.54</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62736571.54</valUSD>
        <pctVal>17.4624643778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MARIADB PLC</name>
        <lei>N/A</lei>
        <title>MariaDB PLC</title>
        <cusip>G5920M118</cusip>
        <identifiers>
          <isin value="IE000UJTXLQ2"/>
          <ticker value="MRDB/WS"/>
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        <balance>24015</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>New York</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>MARIADB PLC ORD SHS</issuerName>
                <issueTitle>MARIADB PLC ORD SHS</issueTitle>
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                  <ticker value="MRDB"/>
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            <shareNo>1</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
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            <expDt>2027-12-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-13715.90</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vail Resorts Inc</name>
        <lei>529900PSZHRNU9HKH870</lei>
        <title>Vail Resorts, Inc.</title>
        <cusip>91879Q109</cusip>
        <identifiers>
          <isin value="US91879Q1094"/>
          <ticker value="MTN"/>
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        <balance>14129</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2260922.58</valUSD>
        <pctVal>0.6293184190</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NOV Inc</name>
        <lei>549300EHF3IW1AR6U008</lei>
        <title>NOV, Inc.</title>
        <cusip>62955J103</cusip>
        <identifiers>
          <isin value="US62955J1034"/>
          <ticker value="NOV"/>
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        <balance>65541</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>997534.02</valUSD>
        <pctVal>0.2776594554</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTHERN STAR INVESTMENT -A</name>
        <lei>N/A</lei>
        <title>Northern Star Investment Corp. IV</title>
        <cusip>66575B119</cusip>
        <identifiers>
          <isin value="US66575B1199"/>
          <ticker value="NSTDW"/>
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        <balance>5407</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>OTC US</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>NORTHERN STAR INVEST COM CL A</issuerName>
                <issueTitle>NORTHERN STAR INVEST COM CL A</issueTitle>
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                  <ticker value="NSTD"/>
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            </descRefInstrmnt>
            <shareNo>1</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-12-31</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-478.48</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NXP Semiconductors NV</name>
        <lei>724500M9BY5293JDF951</lei>
        <title>NXP Semiconductors N.V.</title>
        <cusip>N6596X109</cusip>
        <identifiers>
          <isin value="NL0009538784"/>
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        <curCd>USD</curCd>
        <valUSD>2582345.22</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OCREDIT BDC SENIOR NOTE DDTL   /</name>
        <lei>N/A</lei>
        <title>OCREDIT BDC SENIOR NOTE DDTL   /</title>
        <cusip>999999999</cusip>
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          <ticker value="OCREDIT"/>
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        <balance>552000</balance>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>PG&amp;E Corp</name>
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        <title>PG&amp;E Corp.</title>
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          <isin value="US69331C1080"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>PHI Group Inc/DE</name>
        <lei>5493002853B5XXHLIP12</lei>
        <title>PHI Group, Inc.</title>
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          <isin value="US69360B1044"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Prosus NV</name>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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        <name>LEALAND REFICAR TERM LOAN   /</name>
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        <title>LEALAND REFICAR TERM LOAN   /</title>
        <cusip>999999999</cusip>
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          <ticker value="REFICART"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>MCDERMOTT INTERNATIO Ltd. QIB/AI CTRACUSIP   /</name>
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        <name>MCDERMOTT INTERNATIO Ltd. AI CONTRA CUSIP   /</name>
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          <ticker value="58004K40"/>
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      <invstOrSec>
        <name>MIDCAP FINANCIAL ISSR TR</name>
        <lei>N/A</lei>
        <title>Midcap Financial Issuer Trust</title>
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          <isin value="US59567LAA26"/>
          <ticker value="59567LAA"/>
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        <balance>3466000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-05-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Monroe Capital ABS Funding LTD</name>
        <lei>N/A</lei>
        <title>Monroe Capital ABS Funding 2021-1 Ltd.</title>
        <cusip>610331AC4</cusip>
        <identifiers>
          <isin value="US610331AC44"/>
          <ticker value="610331AC"/>
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        <balance>652919.2590</balance>
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        <curCd>USD</curCd>
        <valUSD>640701.83</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-22</maturityDt>
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          <annualizedRt>3.9080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OAKTREE STRATEGIC CREDIT</name>
        <lei>2549006RRE0JC7G43241</lei>
        <title>Oaktree Strategic Credit Fund</title>
        <cusip>67403AAB5</cusip>
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          <isin value="US67403AAB52"/>
          <ticker value="67403AAB"/>
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        <balance>1615000</balance>
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        <curCd>USD</curCd>
        <valUSD>1747607.65</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-14</maturityDt>
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      <invstOrSec>
        <name>Parliament CLO Ltd</name>
        <lei>5493009BTB3REE8RVW84</lei>
        <title>Parliament Clo II Ltd.</title>
        <cusip>701631AD5</cusip>
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          <ticker value="701631AD"/>
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        <curCd>USD</curCd>
        <valUSD>1845195.35</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>
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          <maturityDt>2032-08-20</maturityDt>
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        <name>PERSHING SQUARE TONT SHS   /</name>
        <lei>N/A</lei>
        <title>PERSHING SQUARE TONT SHS   /</title>
        <cusip>715ESC018</cusip>
        <identifiers>
          <ticker value="715ESC01"/>
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        <balance>14610</balance>
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        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nintendo Co Ltd</name>
        <lei>353800FEEXU6I9M0ZF27</lei>
        <title>Nintendo Co., Ltd.</title>
        <cusip>999999999</cusip>
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          <isin value="JP3756600007"/>
          <ticker value="7974 JP"/>
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        <balance>41644</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp.</title>
        <cusip>808513AR6</cusip>
        <identifiers>
          <isin value="US808513AR62"/>
          <ticker value="808513AR"/>
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        <balance>75000</balance>
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        <curCd>USD</curCd>
        <valUSD>72375</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-10-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5</annualizedRt>
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        <name>CHARLES SCHWAB CORP</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp.</title>
        <cusip>808513BK0</cusip>
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          <isin value="US808513BK01"/>
          <ticker value="808513BK"/>
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        <curCd>USD</curCd>
        <valUSD>534756.14</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2069-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4</annualizedRt>
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      <invstOrSec>
        <name>TCP Whitney CLO LTD</name>
        <lei>549300YFKQJL35BDIM44</lei>
        <title>TCP Waterman Clo LLC</title>
        <cusip>87240GAG6</cusip>
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          <isin value="US87240GAG64"/>
          <ticker value="87240GAG"/>
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        <curCd>USD</curCd>
        <valUSD>1546724.91</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>ABPCI Direct Lending Fund CLO</name>
        <lei>N/A</lei>
        <title>ABPCI Direct Lending Fund CLO I LLC</title>
        <cusip>00086BAC6</cusip>
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          <isin value="US00086BAC63"/>
          <ticker value="00086BAC"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>ABPCI Direct Lending Fund ABS</name>
        <lei>N/A</lei>
        <title>ABPCI Direct Lending Fund ABS II LLC</title>
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          <isin value="US00090NAG51"/>
          <ticker value="00090NAG"/>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.2365</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ABPCI Direct Lending Fund ABS</name>
        <lei>N/A</lei>
        <title>ABPCI Direct Lending Fund ABS I Ltd.</title>
        <cusip>00090TAA5</cusip>
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          <isin value="US00090TAA51"/>
          <ticker value="00090TAA"/>
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        <balance>259312.0390</balance>
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        <curCd>USD</curCd>
        <valUSD>254429.71</valUSD>
        <pctVal>0.0708194541</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>LG Corp</name>
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      <invstOrSec>
        <name>AIR CANADA 2020-1C PTT</name>
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        <name>ALTABA, Inc. ESCROW SHS ORD REG   /</name>
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        <name>Samsung C&amp;T Corp</name>
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        <name>BX Trust</name>
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        <name>Barings Middle Market CLO Ltd.</name>
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        <name>Swire Pacific Ltd</name>
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        <name>Coinstar Funding, LLC</name>
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        <name>Cologix Data Centers Issuer LL</name>
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        <name>CONSOLIDATED COMMUNICATI</name>
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        <name>Elm Trust</name>
        <lei>N/A</lei>
        <title>Elm 2020-3 Trust</title>
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        <name>Diamond Infrastructure Funding</name>
        <lei>N/A</lei>
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        <cusip>25265LAE0</cusip>
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        <name>Diamond Issuer LLC</name>
        <lei>N/A</lei>
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        <name>Elm Trust</name>
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        <title>Elm 2020-3 Trust</title>
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        <name>Fortress Credit Opportunities</name>
        <lei>2549008RD44HDM6DNP14</lei>
        <title>Fortress Credit Opportunities IX CLO Ltd.</title>
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        <name>Elm Trust</name>
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        <name>SILVERVIEW CREDIT OP ONSHORE FUND LP   /</name>
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        <title>SILVERVIEW CREDIT OP ONSHORE FUND LP   /</title>
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        <name>FRONTIER COMMUNICATIONS</name>
        <lei>N/A</lei>
        <title>Frontier Communications Holdings LLC</title>
        <cusip>35906ABE7</cusip>
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          <isin value="US35906ABE73"/>
          <ticker value="35906ABE"/>
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        <balance>453000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>452796.15</valUSD>
        <pctVal>0.1260339296</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.8750</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VT TOPCO INC</name>
        <lei>5493007T812R37X02Y38</lei>
        <title>VT Topco, Inc.</title>
        <cusip>91838PAA9</cusip>
        <identifiers>
          <isin value="US91838PAA93"/>
          <ticker value="91838PAA"/>
        </identifiers>
        <balance>421000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>438892.50</valUSD>
        <pctVal>0.1221639063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MSD REAL ESTATE CREDIT OPPS FD   /</name>
        <lei>N/A</lei>
        <title>MSD REAL ESTATE CREDIT OPPS FD   /</title>
        <cusip>966RVUII5</cusip>
        <identifiers>
          <ticker value="966RVUII"/>
        </identifiers>
        <balance>30000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>3584293.80</valUSD>
        <pctVal>0.9976733071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EPIC GAMES, INC. PRIVATE COMMON STOCK   /</name>
        <lei>N/A</lei>
        <title>EPIC GAMES, INC. PRIVATE COMMON STOCK   /</title>
        <cusip>966TDKII3</cusip>
        <identifiers>
          <ticker value="966TDKII"/>
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        <balance>4347</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1156302</valUSD>
        <pctVal>0.3218518639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VCP RRL ABS I, Ltd</name>
        <lei>N/A</lei>
        <title>VCP RRL ABS I Ltd.</title>
        <cusip>92243RAC8</cusip>
        <identifiers>
          <isin value="US92243RAC88"/>
          <ticker value="92243RAC"/>
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        <balance>545956.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509607.72</valUSD>
        <pctVal>0.1418471944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.8480</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VCP RRL ABS I, Ltd</name>
        <lei>N/A</lei>
        <title>VCP RRL ABS I Ltd.</title>
        <cusip>92243RAE4</cusip>
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          <isin value="US92243RAE45"/>
          <ticker value="92243RAE"/>
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        <balance>1150036.5420</balance>
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        <curCd>USD</curCd>
        <valUSD>1035829.86</valUSD>
        <pctVal>0.2883189436</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>
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          <maturityDt>2031-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.4250</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEBARI NAT RES CREDIT FD I LP   /</name>
        <lei>N/A</lei>
        <title>NEBARI NAT RES CREDIT FD I LP   /</title>
        <cusip>966ZTA002</cusip>
        <identifiers>
          <ticker value="966ZTA00"/>
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        <balance>55000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>3152319.12</valUSD>
        <pctVal>0.8774349473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SILVERVIEW SPECIAL SIT LD ONSHORE LP   /</name>
        <lei>N/A</lei>
        <title>SILVERVIEW SPECIAL SIT LD ONSHORE LP   /</title>
        <cusip>967DPC901</cusip>
        <identifiers>
          <ticker value="967DPC90"/>
        </identifiers>
        <balance>48500</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>4702245.74</valUSD>
        <pctVal>1.3088505909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VORNADO REALTY LP</name>
        <lei>549300BMOJ05INE4YK86</lei>
        <title>Vornado Realty LP</title>
        <cusip>929043AK3</cusip>
        <identifiers>
          <isin value="US929043AK39"/>
          <ticker value="929043AK"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>241527.50</valUSD>
        <pctVal>0.0672281775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.15</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROP SERIES 2017 1A 5.30% 3/15/2042   /</name>
        <lei>N/A</lei>
        <title>PROP SERIES 2017 1A 5.30% 3/15/2042   /</title>
        <cusip>930RAXII5</cusip>
        <identifiers>
          <ticker value="930RAXII"/>
        </identifiers>
        <balance>259138.5190</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228819.31</valUSD>
        <pctVal>0.0636909055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TIDEWATER, Inc. Sr. SEC 11/16/26 8.5   /</name>
        <lei>N/A</lei>
        <title>TIDEWATER, Inc. Sr. SEC 11/16/26 8.5   /</title>
        <cusip>ACI22L8Z7</cusip>
        <identifiers>
          <ticker value="ACI22L8Z"/>
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        <balance>9600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9858000</valUSD>
        <pctVal>2.7439333966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Analog Devices Inc</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>Analog Devices, Inc.</title>
        <cusip>032654105</cusip>
        <identifiers>
          <isin value="US0326541051"/>
          <ticker value="ADI"/>
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        <balance>37312</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7524711.04</valUSD>
        <pctVal>2.0944720960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amazon.com Inc</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135106</cusip>
        <identifiers>
          <isin value="US0231351067"/>
          <ticker value="AMZN"/>
        </identifiers>
        <balance>12523</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2382625.98</valUSD>
        <pctVal>0.6631940554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aon PLC</name>
        <lei>635400FALWQYX5E6QC64</lei>
        <title>Aon PLC - Class A</title>
        <cusip>G0403H108</cusip>
        <identifiers>
          <isin value="IE00BLP1HW54"/>
          <ticker value="AON"/>
        </identifiers>
        <balance>13605</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5429619.45</valUSD>
        <pctVal>1.5113120450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CLOVER PRIVATE CRED    /</name>
        <lei>N/A</lei>
        <title>CLOVER PRIVATE CRED    /</title>
        <cusip>9353JY901</cusip>
        <identifiers>
          <ticker value="9353JY90"/>
        </identifiers>
        <balance>60000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>6087390.14</valUSD>
        <pctVal>1.6943997873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEALAND FINANCE Co. B.V. SUPER SNR EXIT LC   /</name>
        <lei>N/A</lei>
        <title>LEALAND FINANCE Co. B.V. SUPER SNR EXIT LC   /</title>
        <cusip>935IFTII4</cusip>
        <identifiers>
          <ticker value="935IFTII"/>
        </identifiers>
        <balance>4666311.9370</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3639723.31</valUSD>
        <pctVal>1.0131018812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Apollo Debt Solution BDC Senior Notes   /</name>
        <lei>N/A</lei>
        <title>APOLLO DEBT SOLUTION DELAYED DRAW TERM LO   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="APOLLODS"/>
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        <balance>2333000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2333000</valUSD>
        <pctVal>0.6493808698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.62</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Broadcom Inc</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
        <cusip>11135F101</cusip>
        <identifiers>
          <isin value="US11135F1012"/>
          <ticker value="AVGO"/>
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        <balance>3596</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>602078.28</valUSD>
        <pctVal>0.1675859911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BH3 DEBT OPPORTUNITY FUND II-PARALLEL LP   /</name>
        <lei>N/A</lei>
        <title>BH3 DEBT OPPORTUNITY FUND II-PARALLEL LP   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="BH3OFIIL"/>
        </identifiers>
        <balance>2300000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>2301651</valUSD>
        <pctVal>0.6406550057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>

      <invstOrSec>
        <name>LEALAND FINANCE Co. B.V. LETTER OF CREDIT   /</name>
        <lei>N/A</lei>
        <title>LEALAND FINANCE Co. B.V. LETTER OF CREDIT   /</title>
        <cusip>935IQZII8</cusip>
        <identifiers>
          <ticker value="935IQZII"/>
        </identifiers>
        <balance>991164.90</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>564963.99</valUSD>
        <pctVal>0.1572553824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.559210</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HIG WHITEHORSE DIR LEN 2020 LP   /</name>
        <lei>N/A</lei>
        <title>HIG WHITEHORSE DIR LEN 2020 LP   /</title>
        <cusip>936JLN906</cusip>
        <identifiers>
          <ticker value="936JLN90"/>
        </identifiers>
        <balance>55000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>5479629.15</valUSD>
        <pctVal>1.5252320375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DELIVERY HERO AG</name>
        <lei>529900C3EX1FZGE48X78</lei>
        <title>Delivery Hero S.E.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="DE000A254Y92"/>
          <ticker value="BKX9B22"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.9248"/>
        <valUSD>506473.83</valUSD>
        <pctVal>0.1409748891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JC PENNEY CORP INC</name>
        <lei>8TDNUQ07MEFMWW1VHP39</lei>
        <title>Copper Sub Corp., Inc.</title>
        <cusip>46611NAJ2</cusip>
        <identifiers>
          <isin value="US46611NAJ28"/>
          <ticker value="BL202268"/>
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        <balance>462318.61</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46.23</valUSD>
        <pctVal>0.0000128679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.567780</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEALAND FINANCE CO BV</name>
        <lei>N/A</lei>
        <title>Lealand Finance Co. B.V.</title>
        <cusip>N5200EAB7</cusip>
        <identifiers>
          <isin value="XAN5200EAB73"/>
          <ticker value="BL341039"/>
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        <balance>1580156.19</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>639963.26</valUSD>
        <pctVal>0.1781311180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.439420</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LEALAND FINANCE CO BV</name>
        <lei>N/A</lei>
        <title>Lealand Finance Co. B.V.</title>
        <cusip>N5200EAC5</cusip>
        <identifiers>
          <isin value="XAN5200EAC56"/>
          <ticker value="BL341041"/>
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        <balance>141926.75</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73092.28</valUSD>
        <pctVal>0.0203449329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.439420</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LEALAND FINANCE Co. B.V. SENIOR EXIT LC   /</name>
        <lei>N/A</lei>
        <title>LEALAND FINANCE Co. B.V. SENIOR EXIT LC   /</title>
        <cusip>589477088</cusip>
        <identifiers>
          <ticker value="936UZWII"/>
        </identifiers>
        <balance>-1493117.92</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-642040.71</valUSD>
        <pctVal>-0.1787093676</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POST ROAD SPEC OPP FUND II LP   /</name>
        <lei>N/A</lei>
        <title>POST ROAD SPEC OPP FUND II LP   /</title>
        <cusip>942FPU906</cusip>
        <identifiers>
          <ticker value="942FPU90"/>
        </identifiers>
        <balance>18000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>1937744</valUSD>
        <pctVal>0.5393630022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CORNERSTONE ONDEMAND INC</name>
        <lei>549300Z402F16H5EGH48</lei>
        <title>Cornerstone OnDemand, Inc.</title>
        <cusip>86803YAB9</cusip>
        <identifiers>
          <isin value="US86803YAB92"/>
          <ticker value="BL370440"/>
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        <balance>72140.70</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62311.53</valUSD>
        <pctVal>0.0173441558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.310770</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VISION SOLUTIONS INC</name>
        <lei>N/A</lei>
        <title>Vision Solutions, Inc.</title>
        <cusip>70477BAE2</cusip>
        <identifiers>
          <isin value="US70477BAE20"/>
          <ticker value="BL375749"/>
        </identifiers>
        <balance>72318.17</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69304.67</valUSD>
        <pctVal>0.0192906673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.552360</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLUE TORCH CRED OPP FUND II LP   /</name>
        <lei>N/A</lei>
        <title>BLUE TORCH CRED OPP FUND II LP   /</title>
        <cusip>942JAU904</cusip>
        <identifiers>
          <ticker value="942JAU90"/>
        </identifiers>
        <balance>55000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>4792340</valUSD>
        <pctVal>1.3339279543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MSD PRIVATE CREDIT OPP FD 2 LP   /</name>
        <lei>N/A</lei>
        <title>MSD PRIVATE CREDIT OPP FD 2 LP   /</title>
        <cusip>942KWF009</cusip>
        <identifiers>
          <ticker value="942KWF00"/>
        </identifiers>
        <balance>80000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>9465129.39</valUSD>
        <pctVal>2.6345794924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>METRO PARTNERS FUND VII, LP   /</name>
        <lei>N/A</lei>
        <title>METRO PARTNERS FUND VII, LP   /</title>
        <cusip>942TKW907</cusip>
        <identifiers>
          <ticker value="942TKW90"/>
        </identifiers>
        <balance>80000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>9055012</valUSD>
        <pctVal>2.5204250186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PINEY LAKE OPPS FUND LP   /</name>
        <lei>N/A</lei>
        <title>PINEY LAKE OPPS FUND LP   /</title>
        <cusip>942XPN903</cusip>
        <identifiers>
          <ticker value="942XPN90"/>
        </identifiers>
        <balance>30000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>3260363.61</valUSD>
        <pctVal>0.9075086827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WAYFAIR INC</name>
        <lei>54930027N9ZAVYFDHK53</lei>
        <title>Wayfair, Inc.</title>
        <cusip>94419LAF8</cusip>
        <identifiers>
          <isin value="US94419LAF85"/>
          <ticker value="94419LAF"/>
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        <balance>122000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114070</valUSD>
        <pctVal>0.0317509112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Wayfair Inc</name>
              <title>Wayfair Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <ticker value="W"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="6.7349" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WAYFAIR INC</name>
        <lei>54930027N9ZAVYFDHK53</lei>
        <title>Wayfair, Inc.</title>
        <cusip>94419LAM3</cusip>
        <identifiers>
          <isin value="US94419LAM37"/>
          <ticker value="94419LAM"/>
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        <balance>3933000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3824822.84</valUSD>
        <pctVal>1.0646235673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.6250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HLEND SENIOR NOTES DUE 3/15/2028   /</name>
        <lei>N/A</lei>
        <title>HLEND SENIOR NOTES DUE 3/15/2028   /</title>
        <cusip>952JRDII2</cusip>
        <identifiers>
          <ticker value="952JRDII"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3500000</valUSD>
        <pctVal>0.9742104776</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.17</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PRG MYRTLE DRAWDOWN BANK DEBT 06/15/2025   /</name>
        <lei>N/A</lei>
        <title>PRG MYRTLE DRAWDOWN BANK DEBT 06/15/2025   /</title>
        <cusip>953BGJII7</cusip>
        <identifiers>
          <ticker value="953BGJII"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3000000</valUSD>
        <pctVal>0.8350375522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>1.90</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WH BORROWER LLC</name>
        <lei>2549009H920CQUE3R944</lei>
        <title>WH Borrower LLC</title>
        <cusip>92942LAG6</cusip>
        <identifiers>
          <ticker value="BL499393"/>
        </identifiers>
        <balance>1210000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1203950</valUSD>
        <pctVal>0.3351144870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.074710</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DELIVERY HERO AG</name>
        <lei>529900C3EX1FZGE48X78</lei>
        <title>Delivery Hero S.E.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="DE000A3H2WQ0"/>
          <ticker value="BMW0B08"/>
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        <balance>100000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.9248"/>
        <valUSD>96587.26</valUSD>
        <pctVal>0.0268846631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DELIVERY HERO AG</name>
        <lei>529900C3EX1FZGE48X78</lei>
        <title>Delivery Hero S.E.</title>
        <cusip>ZL0636734</cusip>
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          <isin value="DE000A30V5R1"/>
          <ticker value="BNKBK25"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.9248"/>
        <valUSD>1251075.26</valUSD>
        <pctVal>0.3482316076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <identifiers>
          <isin value="US1729674242"/>
          <ticker value="C"/>
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        <balance>100173</balance>
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        <curCd>USD</curCd>
        <valUSD>7111281.27</valUSD>
        <pctVal>1.9793956349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPSTONE ACQ HLDGS BANK DEBT 11/12/2029   /</name>
        <lei>N/A</lei>
        <title>CAPSTONE ACQ HLDGS BANK DEBT 11/12/2029   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="CAPSACQT"/>
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        <balance>2285281.98</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2269746.63</valUSD>
        <pctVal>0.6317745567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.924920</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cie Financiere Richemont SA</name>
        <lei>549300YIPGJ6UX2QPS51</lei>
        <title>Cie Financiere Richemont S.A.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="CH0210483332"/>
          <ticker value="CFR SW"/>
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        <balance>14586</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.8847"/>
        <valUSD>2521678.20</valUSD>
        <pctVal>0.7018986639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Charter Communications Inc</name>
        <lei>0J0XRGZE3PBRFEZ7MV65</lei>
        <title>Charter Communications, Inc. - Class A</title>
        <cusip>16119P108</cusip>
        <identifiers>
          <isin value="US16119P1084"/>
          <ticker value="CHTR"/>
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        <balance>5983</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2204914.99</valUSD>
        <pctVal>0.6137289387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Comcast Corp</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp. - Class A</title>
        <cusip>20030N101</cusip>
        <identifiers>
          <isin value="US20030N1019"/>
          <ticker value="CMCSA"/>
        </identifiers>
        <balance>215600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7955640</valUSD>
        <pctVal>2.2144193840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Copper Property CTL Pass Throu</name>
        <lei>N/A</lei>
        <title>Copper Property CTL Pass-Through Trust</title>
        <cusip>217519107</cusip>
        <identifiers>
          <isin value="US2175191079"/>
          <ticker value="CPPTL"/>
        </identifiers>
        <balance>16058</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>207509.51</valUSD>
        <pctVal>0.0577594111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Delta Commercial FUNDING LP 12/31/27   /</name>
        <lei>N/A</lei>
        <title>Delta Commercial FUNDING LP 12/31/27   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="DELTACFL"/>
        </identifiers>
        <balance>3100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3100000</valUSD>
        <pctVal>0.8628721373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-31</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Delivery Hero SE</name>
        <lei>529900C3EX1FZGE48X78</lei>
        <title>Delivery Hero S.E.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="DE000A2E4K43"/>
          <ticker value="DHER GR"/>
        </identifiers>
        <balance>8390</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.9248"/>
        <valUSD>199316.93</valUSD>
        <pctVal>0.0554790404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELECTRIQ POWER HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Electriq Power Holdings, Inc.</title>
        <cusip>285046116</cusip>
        <identifiers>
          <isin value="US2850461169"/>
          <ticker value="ELIWQ"/>
        </identifiers>
        <balance>31567</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>OTC US</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TLG ACQUISITION ONE COM CL A</issuerName>
                <issueTitle>TLG ACQUISITION ONE COM CL A</issueTitle>
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                  <ticker value="TLGA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
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            <delta>XXXX</delta>
            <unrealizedAppr>-2499.98</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EQS Legacy Holdings Term Loan 3/27/2032   /</name>
        <lei>N/A</lei>
        <title>EQS Legacy Holdings Term Loan 3/27/2032   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="EQSLGHDT"/>
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        <balance>8575000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8575000</valUSD>
        <pctVal>2.3868156701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-27</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eurofins Scientific SE</name>
        <lei>529900JEHFM47DYY3S57</lei>
        <title>Eurofins Scientific S.E.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="FR0014000MR3"/>
          <ticker value="ERF FP"/>
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        <balance>47135</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.9248"/>
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        <pctVal>0.6982678566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fortune Brands Innovations Inc</name>
        <lei>54930032LHW54PQUJD44</lei>
        <title>Fortune Brands Innovations, Inc.</title>
        <cusip>34964C106</cusip>
        <identifiers>
          <isin value="US34964C1062"/>
          <ticker value="FBIN"/>
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        <balance>14338</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>872897.44</valUSD>
        <pctVal>0.2429673805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ferguson Enterprises Inc</name>
        <lei>2138003JYQMRP3SLX189</lei>
        <title>Ferguson Enterprises, Inc.</title>
        <cusip>G3421J106</cusip>
        <identifiers>
          <isin value="JE00BJVNSS43"/>
          <ticker value="FERG"/>
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        <balance>22158</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3550376.34</valUSD>
        <pctVal>0.9882325228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FPS Holdco II LLC SOURCE   /</name>
        <lei>N/A</lei>
        <title>FPS Holdco II LLC SOURCE   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="FPS2LLC"/>
        </identifiers>
        <balance>8869514.56</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>8869514.56</valUSD>
        <pctVal>2.4687925759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GREAT BRITAIN POUND  /</name>
        <lei>N/A</lei>
        <title>GREAT BRITAIN POUND  /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="GBP"/>
        </identifiers>
        <balance>1.58</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="GBP" exchangeRt="0.7741"/>
        <valUSD>2.04</valUSD>
        <pctVal>0.0000005678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Glencore PLC</name>
        <lei>2138002658CPO9NBH955</lei>
        <title>Glencore PLC</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="JE00B4T3BW64"/>
          <ticker value="GLEN LN"/>
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        <balance>788595</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.7741"/>
        <valUSD>2855486.09</valUSD>
        <pctVal>0.7948127050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>

      <invstOrSec>
        <name>Alphabet Inc</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet, Inc. - Class C</title>
        <cusip>02079K107</cusip>
        <identifiers>
          <isin value="US02079K1079"/>
          <ticker value="GOOG"/>
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        <balance>19721</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3081011.83</valUSD>
        <pctVal>0.8575868590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alphabet Inc</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet, Inc. - Class A</title>
        <cusip>02079K305</cusip>
        <identifiers>
          <isin value="US02079K3059"/>
          <ticker value="GOOGL"/>
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        <balance>31853</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4925747.92</valUSD>
        <pctVal>1.3710614953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gulfport Energy Corp</name>
        <lei>254900DJRGZBUZ3F5038</lei>
        <title>Gulfport Energy Corp.</title>
        <cusip>402635502</cusip>
        <identifiers>
          <isin value="US4026355028"/>
          <ticker value="GPOR"/>
        </identifiers>
        <balance>3767</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>693655.38</valUSD>
        <pctVal>0.1930760969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Heineken Holding NV</name>
        <lei>724500M1WJLFM9TYBS04</lei>
        <title>Heineken Holding N.V.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="NL0000008977"/>
          <ticker value="HEIO NA"/>
        </identifiers>
        <balance>80538</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.9248"/>
        <valUSD>5826116.13</valUSD>
        <pctVal>1.6216752507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Holcim AG</name>
        <lei>529900EHPFPYHV6IQO98</lei>
        <title>Holcim A.G.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="CH0012214059"/>
          <ticker value="HOLN SW"/>
        </identifiers>
        <balance>71438</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.8847"/>
        <valUSD>7630712.11</valUSD>
        <pctVal>2.1239770540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Howmet Aerospace Inc</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>Howmet Aerospace, Inc.</title>
        <cusip>443201108</cusip>
        <identifiers>
          <isin value="US4432011082"/>
          <ticker value="HWM"/>
        </identifiers>
        <balance>11254</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1459981.42</valUSD>
        <pctVal>0.4063797704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICON PLC</name>
        <lei>6354008SRQGEMC4XFI67</lei>
        <title>ICON PLC</title>
        <cusip>G4705A100</cusip>
        <identifiers>
          <isin value="IE0005711209"/>
          <ticker value="ICLR"/>
        </identifiers>
        <balance>4812</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>842051.88</valUSD>
        <pctVal>0.2343816469</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pernod Ricard SA</name>
        <lei>52990097YFPX9J0H5D87</lei>
        <title>Pernod Ricard S.A.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="FR0000120693"/>
          <ticker value="RI FP"/>
        </identifiers>
        <balance>22509</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.9248"/>
        <valUSD>2221206.03</valUSD>
        <pctVal>0.6182634821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROSS ACQUISITION CORP II -A</name>
        <lei>N/A</lei>
        <title>Ross Acquisition Corp. II</title>
        <cusip>G7641C114</cusip>
        <identifiers>
          <isin value="KYG7641C1143"/>
          <ticker value="ROSS/WS"/>
        </identifiers>
        <balance>5878</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>New York</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ROSS ACQUISITION COR SHS CL A</issuerName>
                <issueTitle>ROSS ACQUISITION COR SHS CL A</issueTitle>
                <identifiers>
                  <ticker value="ROSS"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1</shareNo>
            <exercisePrice>11.500000000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-12</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1272.84</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Safran SA</name>
        <lei>969500UIC89GT3UL7L24</lei>
        <title>Safran S.A.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <isin value="FR0000073272"/>
          <ticker value="SAF FP"/>
        </identifiers>
        <balance>18432</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.9248"/>
        <valUSD>4823252.60</valUSD>
        <pctVal>1.3425323483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TE Connectivity PLC</name>
        <lei>894500ZRIX9K13RHXR17</lei>
        <title>TE Connectivity PLC</title>
        <cusip>H84989104</cusip>
        <identifiers>
          <isin value="CH0102993182"/>
          <ticker value="TEL"/>
        </identifiers>
        <balance>50190</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7092850.80</valUSD>
        <pctVal>1.9742655901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TIOGA PARTNERS IV LP    /</name>
        <lei>N/A</lei>
        <title>TIOGA PARTNERS IV LP    /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="TIOGAIVL"/>
        </identifiers>
        <balance>14000000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>13842500</valUSD>
        <pctVal>3.8530024389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TREVIAN CAP DEBT FUND LP   /</name>
        <lei>N/A</lei>
        <title>TREVIAN CAP DEBT FUND LP   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="TREVCDFL"/>
        </identifiers>
        <balance>3000000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>3000000</valUSD>
        <pctVal>0.8350375522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Private Placement"/>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Uber Technologies Inc</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</title>
        <cusip>90353T100</cusip>
        <identifiers>
          <isin value="US90353T1007"/>
          <ticker value="UBER"/>
        </identifiers>
        <balance>11246</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>819383.56</valUSD>
        <pctVal>0.2280720141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Westinghouse Air Brake Technol</name>
        <lei>06BTX5UWZD0GQ5N5Y745</lei>
        <title>Westinghouse Air Brake Technologies Corp.</title>
        <cusip>929740108</cusip>
        <identifiers>
          <isin value="US9297401088"/>
          <ticker value="WAB"/>
        </identifiers>
        <balance>7391</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1340357.85</valUSD>
        <pctVal>0.3730830461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>949746101</cusip>
        <identifiers>
          <isin value="US9497461015"/>
          <ticker value="WFC"/>
        </identifiers>
        <balance>46603</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3345629.37</valUSD>
        <pctVal>0.9312420533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Windstream Common    /</name>
        <lei>N/A</lei>
        <title>Windstream Common    /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="WINCOMMO"/>
        </identifiers>
        <balance>10312</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>185616</valUSD>
        <pctVal>0.0516654434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TIDEWATER INC</name>
        <lei>2549000JA5GRUPLMUH98</lei>
        <title>Tidewater, Inc.</title>
        <cusip>U8859YAA5</cusip>
        <identifiers>
          <isin value="NO0012952227"/>
          <ticker value="ZJ048217"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3195000</valUSD>
        <pctVal>0.8893149931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.3750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The fund is reporting returns without deducting sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-04-09</ncom:dateSigned>
      <ncom:nameOfApplicant>SOURCE CAPITAL /DE/</ncom:nameOfApplicant>
      <ncom:signature>/s/ Maureen Quill</ncom:signature>
      <ncom:signerName>Maureen Quill</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>fp0093756-1_nportexsource.htm
<DESCRIPTION>SOURCE CAPITAL 3.31.25 PART F
<TEXT>
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<head>
     <title></title>
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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>SCHEDULE OF INVESTMENTS</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>As of March 31, 2025 (Unaudited)</b></p>

<!-- Field: Rule-Page --><div style="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><div style="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Principal<BR> Amount</td><td style="padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Value</td><td style="padding-bottom: 1pt">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">BONDS &amp; DEBENTURES &mdash; 24.9%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">ASSET-BACKED SECURITIES &mdash; 9.3%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">COLLATERALIZED LOAN OBLIGATION &mdash; 3.9%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">ABPCI Direct Lending Fund LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,056,000</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 70%; text-align: left">Series 2016-1A, Class E2, 13.285% (3-Month Term SOFR+899.161 basis points), 7/20/2033<sup>(a),(b)</sup></td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,058,874</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Barings Middle Market Ltd.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,040,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-IA, Class D, 13.205% (3-Month Term SOFR+891.161 basis points), 7/20/2033<sup>(a),(b)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,040,147</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Fortress Credit Opportunities Ltd.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,186,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2017-9A, Class ER, 12.624% (3-Month Term SOFR+832.161 basis points), 10/15/2033<sup>(a),(b)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,161,563</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Ivy Hill Middle Market Credit Fund Ltd.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,380,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 20A, Class E, 14.293% (3-Month Term SOFR+1,000 basis points), 4/20/2035<sup>(a),(b)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,380,286</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Parliament Ltd.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,854,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-2A, Class D, 8.284% (3-Month Term SOFR+396.161 basis points), 8/20/2032<sup>(a),(b)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,845,195</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">TCP Waterman LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">1,571,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Series 2017-1A, Class ER, 12.743% (3-Month Term SOFR+842.161 basis points), 8/20/2033<sup>(a),(b)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,546,725</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">14,032,790</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">EQUIPMENT &mdash; 0.8%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Coinstar Funding LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,826,540</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2017-1A, Class A2, 5.216%, 4/25/2047<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,582,305</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>Prop 2017-1A</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">259,138</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">5.300%, 3/15/2042<sup>(c),(d)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">228,819</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,811,124</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">OTHER &mdash; 4.6%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">ABPCI Direct Lending Fund LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,228,850</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2022-2A, Class C, 8.236%, 3/1/2032<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,993,186</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">ABPCI Direct Lending Fund Ltd.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">259,312</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2020-1A, Class A, 3.199%, 12/29/2030<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">254,430</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,619,793</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2020-1A, Class B, 4.935%, 12/29/2030<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,560,011</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Cologix Data Centers US Issuer LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,765,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-1A, Class C, 5.990%, 12/26/2051<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,662,829</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Diamond Infrastructure Funding LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">384,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-1A, Class C, 3.475%, 4/15/2049<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">361,152</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Diamond Issuer LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,000,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-1A, Class C, 3.787%, 11/20/2051<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">911,784</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Elm Trust</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">22,411</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2020-3A, Class A2, 2.954%, 8/20/2029<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">22,113</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">60,229</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2020-3A, Class B, 4.481%, 8/20/2029<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">59,067</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">408,275</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2020-4A, Class B, 3.866%, 10/20/2029<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">399,371</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Golub Capital Partners Funding Ltd.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p>


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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>SCHEDULE OF INVESTMENTS - Continued</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>As of March 31, 2025 (Unaudited)</b></p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Principal<BR> Amount</td><td style="padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Value</td><td style="padding-bottom: 1pt">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">BONDS &amp; DEBENTURES (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">ASSET-BACKED SECURITIES (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">OTHER (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">558,155</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 70%; text-align: left">Series 2020-1A, Class B, 4.496%, 1/22/2029<sup>(a)</sup></td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">553,295</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,139,486</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-1A, Class B, 3.816%, 4/20/2029<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,115,350</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,030,002</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-2A, Class B, 3.994%, 10/19/2029<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,931,339</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Hotwire Funding LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">750,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-1, Class C, 4.459%, 11/20/2051<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">724,473</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Monroe Capital Funding Ltd.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">652,919</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-1A, Class B, 3.908%, 4/22/2031<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">640,702</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">VCP RRL Ltd.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">545,957</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-1A, Class B, 2.848%, 10/20/2031<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">509,608</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">1,150,037</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Series 2021-1A, Class C, 5.425%, 10/20/2031<sup>(a)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,035,830</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">16,734,540</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL ASSET-BACKED SECURITIES</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $34,354,136)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">33,578,454</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">COMMERCIAL MORTGAGE-BACKED SECURITIES &mdash; 0.5%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">NON-AGENCY &mdash; 0.5%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">BX Commercial Mortgage Trust</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,311,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2021-VOLT, Class F, 6.833% (1-Month Term SOFR+251.448 basis points), 9/15/2036<sup>(a),(b)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,295,041</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Eleven Madison Mortgage Trust</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">344,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Series 2015-11MD, Class A, 3.555%, 9/10/2035<sup>(a),(b)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">338,697</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,633,738</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $1,619,867)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,633,738</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">CONVERTIBLE BONDS &mdash; 1.6%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Delivery Hero AG</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">500,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>1.000%, 1/23/2027</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">506,474</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">100,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>1.500%, 1/15/2028</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">96,587</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,200,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>3.250%, 2/21/2030</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,251,075</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Wayfair, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,933,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>0.625%, 10/1/2025</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,824,823</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">122,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">1.000%, 8/15/2026</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">114,070</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL CONVERTIBLE BONDS</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $5,490,316)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,793,029</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">CORPORATE BANK DEBT &mdash; 4.7%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Capstone Acquisition Holdings, Inc. Term Loan</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,285,282</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">8.925% (1-Month Term SOFR+460 basis points), 11/12/2029<sup>(b),(c),(d),(e),(f)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,269,747</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Cornerstone OnDemand, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">72,141</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">8.311% (1-Month Term SOFR+375 basis points), 10/16/2028<sup>(b),(d),(e)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">62,311</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Delta Commercial Funding LP</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,100,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">9.100% (1-Month Term SOFR+480 basis points), 12/31/2027<sup>(b),(c),(d),(e),(f),(g)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,901,600</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p>


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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>SCHEDULE OF INVESTMENTS - Continued</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>As of March 31, 2025 (Unaudited)</b></p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Principal<BR> Amount</td><td style="padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Value</td><td style="padding-bottom: 1pt">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">CORPORATE BANK DEBT (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">EQS Legacy Holdings LLC Term Loan</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">8,575,000</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 70%">11.000%, 3/27/2032<sup>(b),(c),(d),(e)</sup></td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">8,575,000</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">JC Penney Corp., Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">462,319</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">5.568% (3-Month USD Libor+425 basis points), 6/23/2025<sup>*,(b),(c),(d),(e),(h)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">46</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Lealand Finance Company B.V. Senior Exit LC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,493,118</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>3.500%, 6/30/2027<sup>(b),(c),(d),(e),(f),(g)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(642,041</td><td style="white-space: nowrap; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,666,312</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>5.250%, 6/30/2027<sup>(b),(c),(d),(e),(f),(g)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,026,589</td><td style="white-space: nowrap; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Lealand Reficar LC Term Loan</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">31,128</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">12.843% (3-Month Term SOFR+750 basis points), 6/30/2027<sup>(b),(c),(d),(e),(f),(i)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">23,346</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">McDermott LC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">991,165</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left"><font>8.572% (3-Month Term SOFR+426.161 basis points</font>), 6/30/2027<sup>(b),(c),(d),(e),(f)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">564,964</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">McDermott Technology Americas, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">141,927</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">7.439% (1-Month Term SOFR+300 basis points), 6/30/2027<sup>(b),(d),(e)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">73,092</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,580,169</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">8.440% (1-Month Term SOFR+400 basis points), 12/31/2027<sup>(b),(c),(d),(e),(i)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">639,969</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Project Myrtle</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,000,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">7.500% (1-Month Term SOFR+317.9 basis points), 6/15/2025<sup>(b),(c),(d),(e),(g)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,188,999</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Vision Solutions, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">72,131</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">8.552% (3-Month Term SOFR+400 basis points), 4/24/2028<sup>(b),(d),(e)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">69,126</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">WH Borrower LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">1,210,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">9.075% (1-Month Term SOFR+475 basis points), 2/20/2032<sup>(b),(d),(e)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,203,950</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL CORPORATE BANK DEBT</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $19,361,073)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">16,903,520</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">CORPORATE BONDS &mdash; 8.8%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">COMMUNICATIONS &mdash; 0.5%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Consolidated Communications, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,272,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>6.500%, 10/1/2028<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,225,890</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Frontier Communications Holdings LLC</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">453,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">5.875%, 10/15/2027<sup>(a)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">452,796</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,678,686</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">CONSUMER DISCRETIONARY &mdash; 0.6%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Air Canada Pass Through Trust</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,500,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Series 2020-1, Class C, 10.500%, 7/15/2026<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,590,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">VT Topco, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">421,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">8.500%, 8/15/2030<sup>(a)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">438,893</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,028,893</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">ENERGY &mdash; 3.6%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Tidewater, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">9,600,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>8.500%, 11/16/2026</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">9,858,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">3,000,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">10.375%, 7/3/2028<sup>(a)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,195,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">13,053,000</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">FINANCIALS &mdash; 3.6%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Apollo Debt Solutions BDC Senior Notes</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,333,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>8.620%, 9/28/2028<sup>(c),(d)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,333,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p>


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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>SCHEDULE OF INVESTMENTS - Continued</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>As of March 31, 2025 (Unaudited)</b></p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Principal<BR> Amount</td><td style="padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Value</td><td style="padding-bottom: 1pt">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">CORPORATE BONDS (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">FINANCIALS (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Charles Schwab Corp.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">549,000</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 70%; text-align: left">4.000% (USD 5 Year Tsy+316.8 basis points)<sup>(b),(j)</sup></td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">534,756</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">75,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">5.000% (3-Month USD Libor+257.5 basis points)<sup>(b),(j)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">72,375</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Hlend Senior Notes</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,500,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>8.170%, 3/15/2028<sup>(c),(d)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,500,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">HPS Corporate Lending Fund</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">520,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>6.750%, 1/30/2029</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">534,579</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Midcap Financial Issuer Trust</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,466,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>6.500%, 5/1/2028<sup>(a)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,318,695</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Oaktree Strategic Credit Fund</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,615,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>8.400%, 11/14/2028</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,747,608</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">OCREDIT BDC Senior Notes</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">552,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td>7.770%, 3/7/2029<sup>(c),(d)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">552,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Vornado Realty LP</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">250,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">2.150%, 6/1/2026</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">241,527</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">12,834,540</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">HEALTH CARE &mdash; 0.5%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Heartland Dental LLC/Heartland Dental Finance Corp.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">1,796,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">10.500% (1-Month Term SOFR+500 basis points), 4/30/2028<sup>(a),(d)</sup></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,885,800</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL CORPORATE BONDS</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $30,629,780)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">31,480,919</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL BONDS &amp; DEBENTURES</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $91,455,172)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">89,389,660</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Number<BR> of Shares</td><td style="padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td>&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">CLOSED-END FUNDS &mdash; 0.0%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 12%; padding-bottom: 1pt; text-align: right">142,220</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 70%; text-align: left; padding-bottom: 1pt">Altegrity, Inc.<sup>(c),(d)</sup></td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="width: 12%; border-bottom: Black 1pt solid; text-align: right">174,931</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL CLOSED-END FUNDS</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $0)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">174,931</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">COMMON STOCKS &mdash; 38.1%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">AEROSPACE &amp; DEFENSE &mdash; 1.7%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">11,254</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Howmet Aerospace, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,459,981</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">18,432</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Safran S.A.</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">4,823,253</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6,283,234</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">APPAREL &amp; TEXTILE PRODUCTS &mdash; 0.7%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">14,586</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Cie Financiere Richemont S.A. - Class A</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,521,678</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">ASSET MANAGEMENT &mdash; 0.0%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">14,610</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Pershing Square Tontine Holdings Ltd.<sup>(c),(d)</sup></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&mdash;</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">BANKING &mdash; 2.9%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">100,173</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Citigroup, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">7,111,281</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">46,603</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Wells Fargo &amp; Co.</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,345,630</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">10,456,911</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>


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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>SCHEDULE OF INVESTMENTS - Continued</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>As of March 31, 2025 (Unaudited)</b></p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Number<BR> of Shares</td><td style="padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Value</td><td style="padding-bottom: 1pt">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">COMMON STOCKS (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">BEVERAGES &mdash; 3.3%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 12%; text-align: right">80,538</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 70%; text-align: left">Heineken Holding N.V.</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">5,826,116</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">167,093</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">JDE Peet's N.V.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,653,353</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">22,509</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Pernod Ricard S.A.</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,221,206</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">11,700,675</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">CABLE &amp; SATELLITE &mdash; 2.8%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,983</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Charter Communications, Inc. - Class A*</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,204,915</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">215,600</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Comcast Corp. - Class A</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">7,955,640</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">10,160,555</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">CHEMICALS &mdash; 1.7%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">77,685</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">International Flavors &amp; Fragrances, Inc.</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">6,029,133</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">COMMERCIAL SUPPORT SERVICES &mdash; 0.7%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">47,135</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Eurofins Scientific S.E.</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,508,634</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">CONSTRUCTION MATERIALS &mdash; 2.1%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">71,438</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Holcim AG*</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">7,630,712</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">E-COMMERCE DISCRETIONARY &mdash; 0.7%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">12,523</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Amazon.com, Inc.*</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,382,626</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">ELECTRIC UTILITIES &mdash; 0.0%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">9,047</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">PG&amp;E Corp.</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">155,427</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">ELECTRICAL EQUIPMENT &mdash; 2.0%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">50,190</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">TE Connectivity Ltd.</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">7,092,851</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">ENGINEERING &amp; CONSTRUCTION &mdash; 0.8%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">98,012</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">McDermott International, Ltd.<sup>*,(c),(d)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,274,149</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">21,370</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Samsung C&amp;T Corp.</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,696,538</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,970,687</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">ENTERTAINMENT CONTENT &mdash; 0.7%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,347</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Epic Games, Inc.<sup>(c),(d)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,156,302</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">112,607</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Nexon Co., Ltd.</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,531,557</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,687,859</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">HEALTH CARE FACILITIES &amp; SVCS &mdash; 0.2%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">4,812</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">ICON PLC*</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">842,052</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">HOME CONSTRUCTION &mdash; 0.2%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">14,338</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Fortune Brands Innovations, Inc.</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">872,897</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">INSURANCE &mdash; 1.5%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">13,605</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Aon PLC - Class A</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,429,619</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">INTERNET MEDIA &amp; SERVICES &mdash; 5.3%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">31,853</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Alphabet, Inc. - Class A</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,925,748</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">19,721</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Alphabet, Inc. - Class C</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,081,012</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">8,390</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Delivery Hero S.E.*</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">199,317</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">10,387</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Meta Platforms, Inc. - Class A</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,986,651</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">86,481</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Prosus N.V.*</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,981,324</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p>


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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>SCHEDULE OF INVESTMENTS - Continued</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>As of March 31, 2025 (Unaudited)</b></p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Number<BR> of Shares</td><td style="padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Value</td><td style="padding-bottom: 1pt">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">COMMON STOCKS (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">INTERNET MEDIA &amp; SERVICES (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 12%; padding-bottom: 1pt; text-align: right">11,246</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 70%; text-align: left; padding-bottom: 1pt">Uber Technologies, Inc.*</td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</td><td style="width: 12%; border-bottom: Black 1pt solid; text-align: right">819,384</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">18,993,436</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">LEISURE FACILITIES &amp; SERVICES &mdash; 1.2%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">8,054</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Marriott International, Inc. - Class A</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,918,463</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">14,129</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Vail Resorts, Inc.</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,260,922</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">4,179,385</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">METALS &amp; MINING &mdash; 0.8%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">788,595</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Glencore PLC*</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,855,486</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">OIL &amp; GAS PRODUCERS &mdash; 0.8%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,767</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Gulfport Energy Corp.*</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">693,656</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">78,127</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Kinder Morgan, Inc.</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,228,963</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,922,619</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">OIL &amp; GAS SERVICES &amp; EQUIP &mdash; 0.3%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">65,541</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">NOV, Inc.</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">997,534</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">OTHER COMMON STOCK &mdash; 0.5%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&mdash;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Other Common Stock<sup>(k)</sup></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,910,175</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">REAL ESTATE OWNERS &amp; DEVELOPERS &mdash; 0.1%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">60,408</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Swire Pacific Ltd. - Class A</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">532,544</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">REAL ESTATE SERVICES &mdash; 0.1%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">16,058</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Copper Property CTL Pass Through Trust<sup>(d)</sup></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">207,510</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">RETAIL - DISCRETIONARY &mdash; 1.5%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">23,348</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">CarMax, Inc.*</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,819,276</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">22,158</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Ferguson Enterprises, Inc.</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,550,376</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">5,369,652</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">SEMICONDUCTORS &mdash; 3.0%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">37,312</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Analog Devices, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">7,524,711</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,596</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Broadcom, Inc.</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">602,079</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">13,587</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">NXP Semiconductors N.V.</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,582,345</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt">&nbsp;</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">10,709,135</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">SOFTWARE &mdash; 0.1%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">10,312</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Windstream Holdings, Inc.<sup>(c)</sup></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">185,616</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TECHNOLOGY HARDWARE &mdash; 0.8%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">41,644</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Nintendo Co., Ltd.</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,806,993</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TECHNOLOGY SERVICES &mdash; 0.6%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">45,096</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">LG Corp.</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,978,405</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TRANSPORTATION &amp; LOGISTICS &mdash; 0.6%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">84,452</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">PHI Group, Inc.<sup>*,(c),(d)</sup></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2,069,074</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>


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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>SCHEDULE OF INVESTMENTS - Continued</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>As of March 31, 2025 (Unaudited)</b></p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Number<BR> of Shares</td><td style="padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Value</td><td style="padding-bottom: 1pt">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">COMMON STOCKS (Continued)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TRANSPORTATION EQUIPMENT &mdash; 0.4%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 12%; padding-bottom: 1pt; text-align: right">7,391</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 70%; text-align: left; padding-bottom: 1pt">Westinghouse Air Brake Technologies Corp.</td><td style="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="width: 12%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,340,358</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL COMMON STOCKS</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $92,456,178)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">136,783,472</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">LIMITED PARTNERSHIPS &mdash; 18.8%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,300,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">BH3 Debt Opportunity Fund II-Parallel, LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,038,803</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">55,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Blue Torch Credit Opportunities Fund II LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,520,116</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">60,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Clover Private Credit Opportunities Fund LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,921,587</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">8,869,515</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">FPS Holdco II LLC<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">8,869,515</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">55,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">HIG WhiteHorse Direct Lending 2020 LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,675,274</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,000,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Jett Texas LLC<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,000,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">80,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Metro Partners Fund VII LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">9,055,012</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">80,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">MSD Private Credit Opportunities Fund II LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,473,137</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">30,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">MSD Real Estate Credit Opportunities Fund<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,269,986</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">55,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Nebari Natural Resources Credit Fund I LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,152,319</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">30,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Piney Lake Opportunities Fund LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,260,364</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">18,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Post Road Special Opportunity Fund II LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,722,819</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">35,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Silverpeak Credit Opportunities LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,642,551</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">48,500</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Silverpeak Special Situations<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,702,246</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">14,000,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Tioga Partners IV, LP<sup>(d),(l)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,092,500</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">3,000,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Trevian Capital Debt Fund, LP<sup>(d),(l)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">3,000,000</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL LIMITED PARTNERSHIPS</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $62,106,271)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">67,396,229</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">PREFERRED STOCKS &mdash; 0.0%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold">ENERGY &mdash; 0.0%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">21</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Gulfport Energy Corp., 10.000%<sup>(c)</sup></td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">23,368</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL PREFERRED STOCKS</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $19,249)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">23,368</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">WARRANTS (SPAC) &mdash; 0.0%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">31,567</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Electriq Power Holdings, Inc., Expiration Date: January 25, 2028<sup>*,(c)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&mdash;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">24,015</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">MariaDB PLC, Expiration Date: December 16, 2027<sup>*,(c)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&mdash;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,407</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">Northern Star Investment Corp. IV, Expiration Date: December 31, 2027<sup>*,(c)</sup></td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&mdash;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">5,878</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Ross Acquisition Corp. II, Expiration Date: February 12, 2026<sup>*,(c)</sup></td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">&mdash;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL WARRANTS (SPAC)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $17,967)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&mdash;</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p>


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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>SCHEDULE OF INVESTMENTS - Continued</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>As of March 31, 2025 (Unaudited)</b></p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Number<BR> of Shares</td><td style="padding-bottom: 1pt">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="text-align: center; border-bottom: Black 1pt solid">Value</td><td style="padding-bottom: 1pt">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">SHORT-TERM INVESTMENTS &mdash; 17.4%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">MONEY MARKET INVESTMENTS &mdash; 17.4%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 12%; padding-bottom: 1pt; text-align: right">62,642,952</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 70%; text-align: left; padding-bottom: 1pt">Morgan Stanley Institutional Liquidity Treasury Portfolio - Institutional Class, 4.20%<sup>(m)</sup></td><td style="width: 1%; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td><td style="width: 12%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">62,642,952</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL SHORT-TERM INVESTMENTS</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; padding-left: 0.25in">(Cost $62,642,952)</td><td style="font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">62,642,952</td><td style="white-space: nowrap; padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">TOTAL INVESTMENTS &mdash; 99.2%</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">&nbsp;</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="padding-left: 0.25in">(Cost $308,697,789)</td><td style="font-weight: bold">&nbsp;</td>
    <td style="font-weight: bold; text-align: left">&nbsp;</td><td style="font-weight: bold; text-align: right">356,410,612</td><td style="white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: left; padding-bottom: 1pt">Other Assets in Excess of Liabilities &mdash; 0.8%</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,858,401</td><td style="white-space: nowrap; padding-bottom: 1pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td><td style="padding-bottom: 2.5pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL NET ASSETS &mdash; 100.0%</td><td style="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">359,269,013</td><td style="white-space: nowrap; padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">BDC &ndash; Business Development Company</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">LLC &ndash; Limited Liability Company</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">LP &ndash; Limited Partnership</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">PLC &ndash; Public Limited Company</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">US &ndash; United States</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left">*</td><td style="text-align: justify">Non-income producing security.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(a)</sup></td><td style="text-align: left">Security exempt from registration under Rule 144A of the Securities
Act of 1933. These securities are restricted and may be resold in transactions exempt from registration normally to qualified institutional
buyers. The total value of these securities is $47,090,447, which represents 13.11% of Net Assets.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(b</sup></td><td style="text-align: justify"><sup>)</sup>Variable or floating rate security.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(c)</sup></td><td style="text-align: left">The value of these securities was determined using significant unobservable
inputs. These are reported as Level 3 securities in the Fair Value Hierarchy.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(d)</sup></td><td style="text-align: left">Restricted securities. These restricted securities constituted 27.19%
of total net assets at March 31, 2025, most of which are considered liquid by the Adviser. These securities are not registered and may
not be sold to the public. There are legal and/or contractual restrictions on resale. The Fund does not have the right to demand that
such securities be registered. The values of these securities are determined by valuations provided by pricing services, brokers, dealers,
market makers, or in good faith under policies adopted by authority of the Fund's Board of Directors.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(e)</sup></td><td style="text-align: left">Bank loans generally pay interest at rates which are periodically
determined by reference to a base lending rate plus a premium. All loans carry a variable rate of interest. These base lending rates
are generally (i) the Prime Rate offered by one or more major United States banks, (ii) the lending rate offered by one or more European
banks such as the London Interbank Offered Rate (&ldquo;LIBOR&rdquo;), (iii) the Certificate of Deposit rate, or (iv) Secured Overnight
Financing Rate (&ldquo;SOFR&rdquo;). Bank Loans, while exempt from registration, under the Securities Act of 1933, contain certain restrictions
on resale and cannot be sold publicly. Floating rate bank loans often require prepayments from excess cash flow or permit the borrower
to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted
with accuracy.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(f)</sup></td><td style="text-align: left">As of March 31, 2025, the Fund had entered into commitments to fund
various delayed draw debt-related investments. Such commitments are subject to the satisfaction of certain conditions set forth in the
documents governing those investments and there can be no assurance that such conditions will be satisfied.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(g)</sup></td><td style="text-align: justify">All or a portion of the loan is unfunded.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(h)</sup></td><td style="text-align: justify">Security is in default.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(i)</sup></td><td style="text-align: left">Payment-in-kind interest is generally paid by issuing additional
par/shares of the security rather than paying cash.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(j)</sup></td><td style="text-align: justify">Perpetual security. Maturity date is not applicable.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(k)</sup></td><td style="text-align: left">As permitted by U.S. Securities and Exchange Commission regulations,
&quot;Other&quot; Common Stocks include holdings in their first year of acquisition that have not previously been publicly disclosed.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(l)</sup></td><td style="text-align: left">Investment valued using net asset value per share (or its equivalent)
as a practical expedient.</td>
</tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left"><sup>(m)</sup></td><td style="text-align: left">The rate is the annualized seven-day yield at period end.</td>
</tr></table>


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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1pt"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1pt"><b>SCHEDULE OF INVESTMENTS - Continued</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1pt"><b>As of March 31, 2025 (Unaudited)</b></p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1pt"><b></b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; font-weight: bold">Restricted Security</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Initial Acquisition Date</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value as<BR> a % of Total<BR> Net Assets</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 48%; text-align: left">Altegrity, Inc.</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 12%; text-align: center">9/1/2021</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">-</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">174,931</td><td style="white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%">&nbsp;</td>
    <td style="width: 1%; text-align: left">&nbsp;</td><td style="width: 10%; text-align: right">0.05</td><td style="white-space: nowrap; width: 1%; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Apollo Debt Solutions BDC Senior Notes, 8.620%, 9/28/2028</td><td>&nbsp;</td>
    <td style="text-align: center">8/10/2023</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,333,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,333,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.65</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">BH3 Debt Opportunity Fund II-Parallel, LP</td><td>&nbsp;</td>
    <td style="text-align: center">9/10/2024</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,037,152</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,038,803</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.28</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Blue Torch Credit Opportunities Fund II LP</td><td>&nbsp;</td>
    <td style="text-align: center">2/16/2021</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,195,499</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,520,116</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.98</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Capstone Acquisition Holdings, Inc. Term Loan, 8.925% (1-Month Term SOFR+460 basis points), 11/12/2029</td><td>&nbsp;</td>
    <td style="text-align: center">11/12/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,271,561</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,269,747</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.63</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Clover Private Credit Opportunities Fund LP</td><td>&nbsp;</td>
    <td style="text-align: center">12/13/2021</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,834,197</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,921,587</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1.37</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Copper Property CTL Pass Through Trust</td><td>&nbsp;</td>
    <td style="text-align: center">10/5/2017</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">528,672</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">207,510</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.06</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Cornerstone OnDemand, Inc., 8.311% (1-Month Term SOFR+375 basis points), 10/16/2028</td><td>&nbsp;</td>
    <td style="text-align: center">12/7/2022</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">69,605</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">62,311</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.02</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Delta Commercial Funding LP, 9.100% (1-Month Term SOFR+480 basis points), 12/31/2027</td><td>&nbsp;</td>
    <td style="text-align: center">12/31/2024</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,873,700</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,901,600</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.81</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Epic Games, Inc.</td><td>&nbsp;</td>
    <td style="text-align: center">6/25/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,499,525</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,156,302</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.32</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">EQS Legacy Holdings LLC Term Loan, 11.000%, 3/27/2032</td><td>&nbsp;</td>
    <td style="text-align: center">3/27/2025</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">8,575,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">8,575,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2.39</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">FPS Holdco II LLC</td><td>&nbsp;</td>
    <td style="text-align: center">8/9/2024</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">8,869,515</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">8,869,515</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2.47</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Heartland Dental LLC/Heartland Dental Finance Corp., 10.500% (1-Month Term SOFR+500 basis points), 4/30/2028</td><td>&nbsp;</td>
    <td style="text-align: center">5/5/2023</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,781,951</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,885,800</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.52</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">HIG WhiteHorse Direct Lending 2020 LP</td><td>&nbsp;</td>
    <td style="text-align: center">7/30/2021</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,722,177</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,675,274</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1.30</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Hlend Senior Notes, 8.170%, 3/15/2028</td><td>&nbsp;</td>
    <td style="text-align: center">2/16/2023</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,500,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,500,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.97</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">JC Penney Corp., Inc., 5.568% (3-Month USD Libor+425 basis points), 6/23/2025</td><td>&nbsp;</td>
    <td style="text-align: center">2/3/2021</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">-</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">46</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.00</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Jett Texas LLC</td><td>&nbsp;</td>
    <td style="text-align: center">12/2/2024</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,000,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,000,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1.67</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Lealand Finance Company B.V. Senior Exit LC, 3.500%, 6/30/2027</td><td>&nbsp;</td>
    <td style="text-align: center">11/12/2019</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(891,939</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(642,041</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">-0.18</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Lealand Finance Company B.V. Senior Exit LC, 5.250%, 6/30/2027</td><td>&nbsp;</td>
    <td style="text-align: center">2/28/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(10,527</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">(1,026,589</td><td style="white-space: nowrap; text-align: left">)</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">-0.29</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Lealand Reficar LC Term Loan, 12.843% (3-Month Term SOFR+750 basis points), 6/30/2027</td><td>&nbsp;</td>
    <td style="text-align: center">4/5/2024</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">31,128</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">23,346</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.01</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">McDermott International, Ltd.</td><td>&nbsp;</td>
    <td style="text-align: center">7/1/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,078,929</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,274,149</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.35</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">McDermott LC, 8.572% (3-Month Term SOFR+426.161 basis points), 6/30/2027</td><td>&nbsp;</td>
    <td style="text-align: center">12/31/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">991,166</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">564,964</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.16</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">McDermott Technology Americas, Inc., 7.439% (1-Month Term SOFR+300 basis points), 6/30/2027</td><td>&nbsp;</td>
    <td style="text-align: center">7/1/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">141,925</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">73,092</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.02</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">McDermott Technology Americas, Inc., 8.440% (1-Month Term SOFR+400 basis points), 12/31/2027</td><td>&nbsp;</td>
    <td style="text-align: center">7/1/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,855,316</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">639,969</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.18</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Metro Partners Fund VII LP</td><td>&nbsp;</td>
    <td style="text-align: center">5/13/2021</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">6,940,327</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">9,055,012</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2.52</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">MSD Private Credit Opportunities Fund II LP</td><td>&nbsp;</td>
    <td style="text-align: center">3/8/2021</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,008,008</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,473,137</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1.52</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">MSD Real Estate Credit Opportunities Fund</td><td>&nbsp;</td>
    <td style="text-align: center">6/11/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">685,692</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,269,986</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.35</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Nebari Natural Resources Credit Fund I LP</td><td>&nbsp;</td>
    <td style="text-align: center">8/18/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,744,996</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,152,319</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.88</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">OCREDIT BDC Senior Notes, 7.770%, 3/7/2029</td><td>&nbsp;</td>
    <td style="text-align: center">2/22/2024</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">552,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">552,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.15</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Pershing Square Tontine Holdings Ltd.</td><td>&nbsp;</td>
    <td style="text-align: center">7/26/2022</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">-</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">-</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.00</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">PHI Group, Inc.</td><td>&nbsp;</td>
    <td style="text-align: center">8/19/2019</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">690,707</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,069,074</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.58</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Piney Lake Opportunities Fund LP</td><td>&nbsp;</td>
    <td style="text-align: center">6/30/2021</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,142,718</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,260,364</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.91</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Post Road Special Opportunity Fund II LP</td><td>&nbsp;</td>
    <td style="text-align: center">1/26/2021</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,541,180</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,722,819</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.48</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Project Myrtle, 7.500% (1-Month Term SOFR+317.9 basis points), 6/15/2025</td><td>&nbsp;</td>
    <td style="text-align: center">12/21/2022</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,186,462</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">2,188,999</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.61</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Prop 2017-1A, 5.300%, 3/15/2042</td><td>&nbsp;</td>
    <td style="text-align: center">2/9/2017</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">259,009</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">228,819</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.06</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Silverpeak Credit Opportunities LP</td><td>&nbsp;</td>
    <td style="text-align: center">11/18/2019</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">927,432</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1,642,551</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.46</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Silverpeak Special Situations</td><td>&nbsp;</td>
    <td style="text-align: center">9/25/2020</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,207,378</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">4,702,246</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1.31</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Tioga Partners IV, LP</td><td>&nbsp;</td>
    <td style="text-align: center">1/15/2025</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,250,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">5,092,500</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">1.42</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left">Trevian Capital Debt Fund, LP</td><td>&nbsp;</td>
    <td style="text-align: center">3/13/2025</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,000,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">3,000,000</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.84</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Vision Solutions, Inc., 8.552% (3-Month Term SOFR+400 basis points), 4/24/2028</td><td>&nbsp;</td>
    <td style="text-align: center">12/7/2022</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">63,726</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">69,126</td><td style="white-space: nowrap; text-align: left">&nbsp;</td><td>&nbsp;</td>
    <td style="text-align: left">&nbsp;</td><td style="text-align: right">0.02</td><td style="white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="text-align: left; padding-bottom: 1pt">WH Borrower LLC, 9.075% (1-Month Term SOFR+475 basis points), 2/20/2032</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="text-align: center; padding-bottom: 1pt">2/12/2025</td><td style="padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,203,950</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,203,950</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; text-align: right">0.34</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 2.5pt">&nbsp;</td><td style="padding-bottom: 2.5pt">&nbsp;</td>
    <td style="text-align: center; padding-bottom: 2.5pt">&nbsp;</td><td style="padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">95,691,137</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">97,681,334</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; text-align: right">27.19</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; text-align: left">%</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"></p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>Source Capital</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>SCHEDULE OF INVESTMENTS - Continued</b></p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0"><b>As of March 31, 2025 (Unaudited)</b></p>

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<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="border-bottom: Black 1pt solid; font-weight: bold">Affiliated Security</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares Held as of December 31, 2024</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beginning Value December 31, 2024</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Purchases at Cost</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Proceeds from Sales</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net Realized Gain (Loss) on Sales Affiliated Investment</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accretion of Discount (Amortization of Premium) and Return of Capital</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Change in Unrealized Appreciation (Depreciation)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Transfer In (Out)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Ending Value March 31, 2025</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares as of March 31, 2025</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Income from Affiliated Investments</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-weight: bold">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: Gainsboro">
    <td style="width: 10%; text-align: left; padding-bottom: 1pt; padding-left: 9pt">FPS Holdco II LLC*</td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 6%; padding-bottom: 1pt; text-align: right">7,842,816</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 6%; text-align: right">7,842,816</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; width: 1%">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 6%; text-align: right">1,026,699</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; width: 1%">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 6%; text-align: right">-</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; width: 1%">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 6%; text-align: right">-</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; width: 1%">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 6%; text-align: right">-</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; width: 1%">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 6%; text-align: right">-</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; width: 1%">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 6%; text-align: right">(8,869,515</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">)</td><td style="border-bottom: Black 1pt solid; width: 1%">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 6%; text-align: right">-</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 6%; padding-bottom: 1pt; text-align: right">8,869,515</td><td style="white-space: nowrap; width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</td><td style="width: 1%; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 6%; text-align: right">-</td><td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt">&nbsp;</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td><td style="padding-bottom: 2.5pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,842,816</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,026,699</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(8,869,515</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; font-weight: bold; text-align: left">)</td><td style="border-bottom: Black 2.5pt double; font-weight: bold">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td><td style="padding-bottom: 2.5pt">&nbsp;</td>
    <td style="padding-bottom: 2.5pt; text-align: left">&nbsp;</td><td style="padding-bottom: 2.5pt; text-align: right">&nbsp;</td><td style="white-space: nowrap; padding-bottom: 2.5pt; text-align: left">&nbsp;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="border-bottom: Black 2.5pt double; white-space: nowrap; font-weight: bold; text-align: left">&nbsp;</td></tr>
  </table>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0"></td><td style="width: 20pt; text-align: left">*</td><td style="text-align: left">Affiliated security as of December 31, 2024, but no longer considered
an affiliated investment as of March 31, 2025. The table above is to provide the change in affiliated securities during the reporting
period. This investment is held in the portfolio, see Schedule of Investments for current value.</td>
</tr></table>


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