NPORT-EX 2 wildermuth_063023partf.htm

Wildermuth Fund

Schedule of Investments

June 30, 2023 (Unaudited)

Interest, Shares, Principal, Amount, or Units			Fair Value
		COMMODITY & NATURAL RESOURCE INVESTMENTS — 7.4%
	1,000	Casillas Petroleum Resource Partners, LLC^(a)(b)	$	1,001,883
	1,976,034	CM Funding, LLC^{(a)(b)(c)(d)(e)}		1,852,344
	—	Kayne Anderson Energy Fund VII LP^(a)(b)(e)(f)		1,304,978
	182	Midcon Holdco Partners, LLC^(a)(b)		285,071
	2,066,031	Thunder Investment Partners, LLC^(a)(b)(c)(d)		1,707,428
		TOTAL COMMODITY & NATURAL RESOURCE INVESTMENTS (Cost $7,142,153)		6,151,704

		DIRECT PRIVATE EQUITY — 63.2%
	41,751	Affinity Beverages, LLC^(a)(b)(d)(e)		174,999
	684	Atlas Fintech Holdings Corp. - Class A Share Interests^(a)(b)(d)(e)		2,688,310
	2,500	Clear Guide Medical, Inc. - Series A Preferred Stock^{(a)(b)(c)(d)(e)}		3,771,103
	134,898	Clear Guide Medical, Inc. - Series A-2 Preferred Stock^{(a)(b)(c)(d)(e)}		719,414
	838,423	Clear Guide Medical, Inc. - Series A-3 Preferred Stock^{(a)(b)(c)(d)(e)}		4,066,329
	1,543,074	Clearsense, LLC - Class C Preferred Shares^{(a)(b)(c)(d)(e)}		5,401,290
	835,814	Clearsense, LLC - Class D Preferred Shares^{(a)(b)(c)(d)(e)}		3,403,066
	2,074,115	DSI Digital, LLC - Common Units^{(a)(b)(c)(d)(e)}		1,566,913
	5,791,621	DSI Digital, LLC - Series A Convertible Preferred Units^{(a)(b)(c)(d)(e)}		7,418,808
	—	Level ATI HoldCo, LLC - Class A^{(a)(b)(c)(d)(e)}		4,143,227
	3,500,000	Metro Diner, LLC - Series B Units^(a)(b)(d)(e)		2,569,180
	1,880,968	Metro Diner, LLC - Series II Common Units^(a)(b)(d)(e)		1,362,387
	8,800,000	Reach Enterprises, Inc. - Common Units^{(a)(b)(c)(d)(e)}		108,957
	309,150	Reach Enterprises, Inc. - Series Seed-1 Preferred Units^{(a)(b)(c)(d)(e)}		25,891
	1,288,103	Reach Enterprises, Inc. - Series Seed-2 Preferred Units^{(a)(b)(c)(d)(e)}		107,878
	7,627,254	Waratek, Ltd. - Common Shares^{(a)(b)(c)(d)(e)}		9,102,668
	635,838	Waratek, Ltd. - Series B-1^{(a)(b)(c)(d)(e)}		2,599,338
	756,826	Waratek, Ltd. - Series B-2^{(a)(b)(c)(d)(e)}		3,371,041
	—	WG Pitts Caribbean, LLC - Common Units^{(a)(b)(c)(d)(e)}		-
		TOTAL DIRECT PRIVATE EQUITY (Cost $48,734,959)		52,600,799

		DIRECT REAL ESTATE — 4.2%
	—	Brookwood SFL Investor Co-Investment Vehicle, LLC^(a)(b)(e)		1,542,882
	1,800,000	LaGrange Senior Living, LLC - Class A Interests^(a)(b)(c)(d)		1,984,885
		TOTAL DIRECT REAL ESTATE (Cost $2,198,597)		3,527,767

		HEDGE FUNDS — 0.7%
	—	Rosebrook Opportunities Fund LP^{(a)(b)(c)(e)(f)(g)}		603,602
		TOTAL HEDGE FUNDS (Cost $994,053)		603,602

		PRIVATE EQUITY DEBT — 25.7%
	750,000	Clear Guide Medical, Inc. - Convertible Note, 0.50%, 2/29/2024^{(a)(b)(c)(d)(e)(h)}		696,350
	250,000	Clear Guide Medical, Inc. - Convertible Note, 6.00%, 11/6/2023^{(a)(b)(c)(d)(e)(h)}		241,387
	5,515,000	DSI Digital, LLC - Convertible Note, 8.00%, 3/31/2025^{(a)(b)(c)(d)(e)(h)}		8,151,885
	5,745,250	Reach Enterprises, Inc. - Convertible Note, 8.00%, 7/30/2023^{(a)(b)(c)(d)(e)(h)}		5,051,868
	2,500,000	Reach Enterprises, Inc. - Convertible Note, 12.00%, 10/1/2023^{(a)(b)(c)(d)(e)(h)}		2,668,750
	2,098,889	Sequin, Inc. - Convertible Note, 8.00%, 7/20/2023^{(a)(b)(d)(e)(h)}		479,564
	200,000	Sequin, Inc. - Convertible Note, 12.00%, 5/30/2024^(a)(b)(d)(h)		200,000
	250,000	Sequin, Inc. - Promissory Note, 12.00%, 3/20/2024^(a)(b)(d)		53,592

See accompanying notes to Schedule of Investments.

Wildermuth Fund

Schedule of Investments - Continued

June 30, 2023 (Unaudited)

Interest, Shares, Principal, Amount, or Units			Fair Value
		PRIVATE EQUITY DEBT (CONTINUED)
	2,033,611	The Work Shop Limited T/A RIP Global - Convertible Note, 12.00%, 12/31/2023^{(a)(b)(d)(e)(h)}	$	1,997,427
	4,436,896	WG Pitts Caribbean, LLC - Promissory Note, 12.00%, 3/31/2026^{(a)(b)(c)(d)(i)}		1,826,180
		TOTAL PRIVATE EQUITY DEBT (Cost $23,353,606)		21,367,003

		PRIVATE EQUITY FUNDS — 7.5%
	—	Abbott Secondary Opportunities LP^{(a)(b)(e)(f)(g)}		834,471
	—	Auda Capital SCS SICAV SIF - Auda Asia Secondary Fund^{(a)(b)(e)(f)(g)}		1,292,877
	—	Committed Advisors Secondary Fund III^{(a)(b)(e)(f)(g)}		1,470,054
	—	EJF Sidecar Fund, Series LLC - Small Financial Equities Series^(a)(b)(f)(g)		248,578
	10	GPB Automotive Portfolio LP^{(a)(b)(d)(e)(f)}		294,008
	—	Gravity Ranch Fund I LP^{(a)(b)(d)(e)(f)(g)}		67,065
	—	PineBridge Secondary Partners IV SLP^{(a)(b)(e)(f)(g)}		1,274,064
	—	StepStone VC Opportunities V, LP^{(a)(b)(e)(f)(g)}		790,981
		TOTAL PRIVATE EQUITY FUNDS (Cost $4,056,409)		6,272,098

		PRIVATE REAL ESTATE INVESTMENTS — 7.3%
	92,075	ARCTRUST, Inc.^(a)(b)(f)		954,821
	—	Cygnus Property Fund V, LLC^(a)(b)(e)(f)		52,179
	—	Harbert Seniors Housing Fund I LP^(a)(b)(e)(f)		1,401,408
	—	Harbert Seniors Housing Fund II LP^(a)(b)(e)(f)		2,684,271
	56	Shopoff Land Fund III LP^(a)(b)(e)(f)		51,520
	124,099	Stonehill Strategic Hotel Credit Opportunity Fund II LP^(a)(b)(f)		441,755
	—	Walton Street Real Estate Fund VIII LP^(a)(b)(e)(f)		450,812
		TOTAL PRIVATE REAL ESTATE INVESTMENTS (Cost $5,348,674)		6,036,766

		PUBLIC NON-TRADED REAL ESTATE INVESTMENT DEBT — 0.1%
	116,110	Cottonwood Communities, Inc. - Promissory Note, 7.00%, 1/1/2031^(a)(b)(d)		116,110
		TOTAL PUBLIC NON-TRADED REAL ESTATE INVESTMENT DEBT (Cost $116,110)		116,110

		WARRANTS — 1.4%
	44	Atlas Fintech Holdings Corp., Exercise Price $14,950, Expiration Date 12/30/2023^(a)(b)(d)(e)		-
	483,827	DSI Digital, LLC, Exercise Price $0.01, Expiration Date 3/28/2025^{(a)(b)(c)(d)(e)}		362,906
	1,442	Schweizer RSG, LLC, Exercise Price $112.50, Expiration Date 1/21/2028^(a)(b)(d)(e)		1,846
	6,410	Sequin, Inc., Exercise Price $0.001, Expiration Date 3/30/2026^(a)(b)(d)(e)		-
	646,328	Waratek, Ltd., Exercise Price 0.01 Euro, Expiration Date 1/22/2028^{(a)(b)(c)(d)(e)}		765,455
		TOTAL WARRANTS (Cost $0)		1,130,207

		SHORT-TERM INVESTMENTS — 0.1%
	94,849	Fidelity Institutional Government Portfolio - Institutional Class, 4.92%^(j)		94,849
		TOTAL SHORT-TERM INVESTMENTS (Cost $94,849)		94,849

		TOTAL INVESTMENTS — 117.6% (Cost $92,039,410)		97,900,905
		Liabilities less other assets — (17.6)%		(14,675,736	)

		TOTAL NET ASSETS — 100.0%	$	83,225,169

See accompanying notes to Schedule of Investments.

Wildermuth Fund

Schedule of Investments - Continued

June 30, 2023 (Unaudited)

LLC – Limited Liability Company

LP – Limited Partnership

SLP – Special Limited Partnership

^(a)	Illiquid Security. As of June 30, 2023 these securities amounted to $97,806,056 representing 117.5% of total net assets.

^(b)	Restricted Security. As of June 30, 2023 these securities amounted to $97,806,056 representing 117.5% of total net assets. Please refer to Investments in Restricted Securities, in the Notes to the Schedule of Investments.

^(c)	Denotes an investment in an affiliated entity. Please refer to Investments in Affiliated Issuers, in the Notes to the Schedule of Investments.

^(d)	Level 3 security in accordance with fair value hierarchy.

^(e)	Non-income Producing

^(f)	Private Fund. As of June 30, 2023 these securities amounted to $14,217,444 representing 17.1% of total net assets.

^(g)	Private Investment Company. As of June 30, 2023 these securities amounted to $6,581,692 representing 7.9% of total net assets.

^(h)	Payment-in-kind (PIK) security in which the issuer makes interest payments in the form of additional securities, as opposed to cash payouts. These additional securities generally have the same terms as the original holdings.

⁽ⁱ⁾	Security is in default.

^(j)	Represents the current rate as of June 30, 2023.

See accompanying notes to Schedule of Investments.

Wildermuth Fund

Notes to the Schedule of Investments

June 30, 2023 (Unaudited)

Investments in Restricted Securities - Restricted securities include securities that have not been registered under the Securities Act of 1933, as amended, and securities that are subject to restrictions on resale. The Fund may invest in restricted securities that are consistent with the Fund’s investment objectives and investment strategies. Investments in restricted securities are valued at fair value as determined in good faith in accordance with procedures adopted by the Board of Trustees. It is possible that the estimated value may differ significantly from the amount that might ultimately be realized in the near term, and the difference could be material.

Additional information on each restricted security held by the Fund on June 30, 2023 is as follows:

Security
Initial

Acquisition Date

Interests, Shares,
Principal Amount, or
Units
Cost
Fair

Value

% of Net

Assets

Abbott Secondary Opportunities LP April 13, 2017 - 829,224 834,471 1.0 %

Affinity Beverages, LLC February 21, 2020 41,751 175,000 174,999 0.2 %

ARCTRUST, Inc. June 30, 2016 92,075 1,000,536 954,821 1.2 %

Atlas Fintech Holdings Corp. - Class A Share Interests December 20, 2016 684 3,126,329 2,688,310 3.2 %

Atlas Fintech Holdings Corp., Exercise Price $14,950, Expiration Date 12/30/2023 December 20, 2016 44 - - 0.0 %

Auda Capital SCS SICAV SIF - Auda Asia Secondary Fund April 2, 2018 - 398,630 1,292,877 1.6 %

Brookwood SFL Investor Co-Investment Vehicle, LLC November 3, 2017 - 398,597 1,542,882 1.9 %

Casillas Petroleum Resource Partners, LLC October 11, 2016 1,000 1,000,000 1,001,883 1.2 %

Clear Guide Medical, Inc. - Convertible Note, 0.50%, 2/29/2024 August 15, 2022 750,000 750,000 696,350 0.8 %

Clear Guide Medical, Inc. - Convertible Note, 6.00%, 11/6/2023 January 6, 2022 250,000 250,000 241,387 0.3 %

Clear Guide Medical, Inc. - Series A Preferred Stock April 19, 2016 2,500 2,250,000 3,771,103 4.5 %

Clear Guide Medical, Inc. - Series A-2 Preferred Stock March 6, 2018 134,898 500,000 719,414 0.9 %

Clear Guide Medical, Inc. - Series A-3 Preferred Stock July 16, 2018 838,423 3,085,394 4,066,329 4.9 %

Clearsense, LLC - Class C Preferred Shares February 20, 2019 1,543,074 6,799,865 5,401,290 6.5 %

Clearsense, LLC - Class D Preferred Shares April 28, 2021 835,814 3,000,000 3,403,066 4.1 %

CM Funding, LLC December 14, 2018 1,976,034 1,976,034 1,852,344 2.2 %

Committed Advisors Secondary Fund III March 30, 2017 - 448,609 1,470,054 1.8 %

Cottonwood Communities, Inc. - Promissory Note, 7.00%, 1/1/2031 June 22, 2021 116,110 116,110 116,110 0.1 %

Cygnus Property Fund V, LLC October 30, 2018 - - 52,179 0.1 %

DSI Digital, LLC - Common Units April 26, 2021 2,074,115 1,000,000 1,566,913 1.9 %

DSI Digital, LLC - Convertible Note, 8.00%, 3/31/2025 March 24, 2021 5,515,000 5,515,000 8,151,885 9.8 %

DSI Digital, LLC - Series A Convertible Preferred Units November 29, 2017 5,791,621 8,560,000 7,418,808 8.9 %

DSI Digital, LLC, Exercise Price $0.01, Expiration Date 3/28/2025 February 28, 2023 483,827 - 362,906 0.4 %

EJF Sidecar Fund, Series LLC - Small Financial Equities Series October 25, 2017 - 270,695 248,578 0.3 %

GPB Automotive Portfolio LP March 13, 2015 10 500,000 294,008 0.4 %

Gravity Ranch Fund I LP June 13, 2017 - 500,000 67,065 0.1 %

Harbert Seniors Housing Fund I LP February 24, 2017 - 1,271,672 1,401,408 1.7 %

Harbert Seniors Housing Fund II LP September 10, 2019 - 2,742,490 2,684,271 3.2 %

Kayne Anderson Energy Fund VII LP September 12, 2016 - 1,918,230 1,304,978 1.6 %

LaGrange Senior Living, LLC - Class A Interests September 11, 2019 1,800,000 1,800,000 1,984,885 2.4 %

Level ATI HoldCo, LLC - Class A September 10, 2018 - 1,690,000 4,143,227 5.0 %

Metro Diner, LLC - Series B Units November 16, 2017 3,500,000 2,276,542 2,569,180 3.1 %

Metro Diner, LLC - Series II Common Units November 16, 2017 1,880,968 1,223,458 1,362,387 1.6 %

Midcon Holdco Partners, LLC December 29, 2020 182 181,858 285,071 0.3 %

PineBridge Secondary Partners IV SLP September 19, 2017 - 730,627 1,274,064 1.5 %

Reach Enterprises, Inc. - Common Units August 8, 2019 8,800,000 2,758,800 108,957 0.1 %

Reach Enterprises, Inc. - Convertible Note, 8.00%, 7/30/2023 April 30, 2021 5,745,250 5,745,250 5,051,868 6.1 %

Reach Enterprises, Inc. - Convertible Note, 12.00%, 10/1/2023 October 2, 2020 2,500,000 2,500,000 2,668,750 3.2 %

Reach Enterprises, Inc. - Series Seed-1 Preferred Units August 5, 2020 309,150 458,001 25,891 0.0 %

Reach Enterprises, Inc. - Series Seed-2 Preferred Units July 15, 2020 1,288,103 1,526,647 107,878 0.1 %

Rosebrook Opportunities Fund LP February 2, 2017 - 994,053 603,602 0.7 %

Schweizer RSG, LLC, Exercise Price $112.50, Expiration Date 1/21/2028 February 6, 2018 1,442 - 1,846 0.0 %

Sequin, Inc. - Convertible Note, 8.00%, 7/20/2023 July 22, 2020 2,098,889 2,098,889 479,564 0.6 %

Sequin, Inc. - Convertible Note, 12.00%, 3/20/2024 May 30, 2023 200,000 200,000 200,000 0.2 %

Sequin, Inc., Exercise Price $0.001, Expiration Date 3/30/2026 March 31, 2021 6,410 - - 0.0 %

Sequin, Inc. - Promissory Note, 12.00%, 3/20/2024 March 31, 2021 250,000 250,000 53,592 0.1 %

Shopoff Land Fund III LP April 28, 2015 56 34,846 51,520 0.1 %

StepStone VC Opportunities V, L.P. January 18, 2018 - 378,625 790,981 1.0 %

Stonehill Strategic Hotel Credit Opportunity Fund II LP July 18, 2016 124,099 124,099 441,755 0.5 %

The Work Shop Limited T/A RIP Global - Convertible Note, 12.00%, 12/31/2023 July 22, 2020 2,033,611 2,033,611 1,997,427 2.4 %

Thunder Investment Partners, LLC November 2, 2018 2,066,031 2,066,031 1,707,428 2.1 %

Walton Street Real Estate Fund VIII LP May 24, 2017 - 175,030 450,812 0.5 %

Waratek, Ltd. - Common Shares November 24, 2021 7,627,254 3,191,374 9,102,668 10.8 %

Waratek, Ltd., Exercise Price 0.01 Euro, Expiration Date 1/22/2028 June 5, 2018 646,328 - 765,455 0.9 %

Waratek, Ltd. - Series B-1 June 5, 2018 635,838 2,990,569 2,599,338 3.1 %

Waratek, Ltd. - Series B-2 December 28, 2017 756,826 3,696,940 3,371,041 4.1 %

WG Pitts Caribbean, LLC - Common Units October 12, 2018 - 426,040 - 0.0 %

WG Pitts Caribbean, LLC - Promissory Note, 12.00%, 3/31/2026 August 14, 2020 4,436,896 4,010,856 1,826,180 2.2 %

$ 91,944,561 $ 97,806,056

Investments in Affiliated Issuers - An affiliated issuer is an entity in which the Fund has ownership of at least 5% of the voting securities. Issuers that are affiliates of the Fund at period-end are noted in the Fund’s Schedule of Investments. Additional security purchases and the reduction of certain security shares outstanding of existing portfolio holdings that were not considered affiliated in prior years may result in the Fund owning in excess of 5% of the outstanding shares at period-end. The table below reflects transactions during the period with entities that are affiliates as of June 30, 2023 and may include acquisitions of new investments, prior year holdings that became affiliated during the period and prior period affiliated holdings that are no longer affiliated as of period-end.

Security Description	Beginning Value April 1, 2023		Purchases or Conversions		Sales or Conversions		Change in Unrealized Appreciation (Depreciation)			Net Realized Gain (Loss)		Tax Basis or Return of Capital Adjustments			Ending Value June 30, 2023		Investment Income
Clear Guide Medical, Inc. - Convertible Note - 0.50%, 2/29/2024⁽¹⁾	$	696,350	$	-	$	-	$	-		$	-	$	-		$	696,350		-
Clear Guide Medical, Inc. - Convertible Note - 6.00%, 11/6/2023⁽¹⁾		241,387		-		-		-			-		-			241,387		-
Clear Guide Medical, Inc. - Series A Preferred Stock⁽¹⁾		3,771,103		-		-		-			-		-			3,771,103		-
Clear Guide Medical, Inc. - Series A-2 Preferred Stock⁽¹⁾		719,414		-		-		-			-		-			719,414		-
Clear Guide Medical, Inc. - Series A-3 Preferred Stock⁽¹⁾		4,066,329		-		-		-			-		-			4,066,329		-
Clearsense, LLC - Class C Preferred Shares		5,401,290		-		-		-			-		-			5,401,290		-
Clearsense, LLC - Class D Preferred Shares		3,403,066		-		-		-			-		-			3,403,066		-
CM Funding, LLC⁽¹⁾		1,852,344		-		-		-			-		-			1,852,344		-
DSI Digital, LLC - Common Units Units⁽¹⁾		1,566,913		-		-		-			-		-			1,566,913		-
DSI Digital, LLC - Convertible Note, 8.00%, 3/31/2025⁽¹⁾		7,546,397		410,000		-		195,488			-		-			8,151,885		-
DSI Digital, LLC - Series A Convertible Preferred Units⁽¹⁾		7,418,808		-		-		-			-		-			7,418,808		-
DSI Digital, Exercise Price 0.01 Euro, Expiration Date 03/29/2025⁽¹⁾		362,906		-		-		-			-		-			362,906		-
LaGrange Senior Living, LLC - Class A Interests⁽¹⁾		1,984,885		-		-		-			-		-			1,984,885		53,852
Level ATI HoldCo, LLC - Class A⁽¹⁾		4,143,227		-		-		-			-		-			4,143,227		-
Reach Enterprises, Inc. - Common Units⁽¹⁾		108,957		-		-		-			-		-			108,957		-
Reach Enterprises, Inc. - Convertible Note - 8.00%, 7/30/2023⁽¹⁾		4,514,668		680,000		-		(142,800	)		-		-			5,051,868		-
Reach Enterprises, Inc. - Convertible Note - 12.00%, 10/1/2023⁽¹⁾		2,668,750		-		-		-			-		-			2,668,750		-
Reach Enterprises, Inc. - Series Seed-1 Preferred Units ⁽¹⁾		25,891		-		-		-			-		-			25,891		-
Reach Enterprises, Inc. - Series Seed-2 Preferred Units ⁽¹⁾		107,878		-		-		-			-		-			107,878		-
Rosebrook Opportunities Fund LP⁽¹⁾		603,602		-		-		-			-		-			603,602		-
Thunder Investment Partners, LLC⁽¹⁾		1,707,428		-		-		1,368			-		(1,368	)		1,707,428		48,401
Waratek, Ltd. - Common Shares⁽¹⁾		7,072,061		-		-		2,030,607			-		-			9,102,668		-
Waratek, Ltd. - Series B-1⁽¹⁾		2,535,342		-		-		63,996			-		-			2,599,338		-
Waratek, Ltd. - Series B-2⁽¹⁾		3,214,250		-		-		156,791			-		-			3,371,041		-
Waratek, Ltd., Exercise Price 0.01 Euro, Expiration Date 01/22/2028⁽¹⁾		593,642		-		-		171,813			-		-			765,455		-
WG Pitts Caribbean, LLC - Common Units⁽¹⁾		-		-		-		-			-		-			-		-
WG Pitts Caribbean, LLC - Promissory Note, 12.00%, 3/31/2026⁽¹⁾		1,826,180		-		-		-			-		-			1,826,180		150,538
	$	68,153,068	$	1,090,000	$	-	$	2,477,263		$	-	$	(1,368	)	$	71,718,963	$	252,791

(1)	Affliated investments for which ownership exceeds 25% of the Investment Fund’s Capital.

Security	Initial Acquisition Date	Interests, Shares, Principal Amount, or Units	Cost		Fair Value		% of Net Assets
Abbott Secondary Opportunities LP	April 13, 2017	-		829,224		834,471	1.0	%
Affinity Beverages, LLC	February 21, 2020	41,751		175,000		174,999	0.2	%
ARCTRUST, Inc.	June 30, 2016	92,075		1,000,536		954,821	1.2	%
Atlas Fintech Holdings Corp. - Class A Share Interests	December 20, 2016	684		3,126,329		2,688,310	3.2	%
Atlas Fintech Holdings Corp., Exercise Price $14,950, Expiration Date 12/30/2023	December 20, 2016	44		-		-	0.0	%
Auda Capital SCS SICAV SIF - Auda Asia Secondary Fund	April 2, 2018	-		398,630		1,292,877	1.6	%
Brookwood SFL Investor Co-Investment Vehicle, LLC	November 3, 2017	-		398,597		1,542,882	1.9	%
Casillas Petroleum Resource Partners, LLC	October 11, 2016	1,000		1,000,000		1,001,883	1.2	%
Clear Guide Medical, Inc. - Convertible Note, 0.50%, 2/29/2024	August 15, 2022	750,000		750,000		696,350	0.8	%
Clear Guide Medical, Inc. - Convertible Note, 6.00%, 11/6/2023	January 6, 2022	250,000		250,000		241,387	0.3	%
Clear Guide Medical, Inc. - Series A Preferred Stock	April 19, 2016	2,500		2,250,000		3,771,103	4.5	%
Clear Guide Medical, Inc. - Series A-2 Preferred Stock	March 6, 2018	134,898		500,000		719,414	0.9	%
Clear Guide Medical, Inc. - Series A-3 Preferred Stock	July 16, 2018	838,423		3,085,394		4,066,329	4.9	%
Clearsense, LLC - Class C Preferred Shares	February 20, 2019	1,543,074		6,799,865		5,401,290	6.5	%
Clearsense, LLC - Class D Preferred Shares	April 28, 2021	835,814		3,000,000		3,403,066	4.1	%
CM Funding, LLC	December 14, 2018	1,976,034		1,976,034		1,852,344	2.2	%
Committed Advisors Secondary Fund III	March 30, 2017	-		448,609		1,470,054	1.8	%
Cottonwood Communities, Inc. - Promissory Note, 7.00%, 1/1/2031	June 22, 2021	116,110		116,110		116,110	0.1	%
Cygnus Property Fund V, LLC	October 30, 2018	-		-		52,179	0.1	%
DSI Digital, LLC - Common Units	April 26, 2021	2,074,115		1,000,000		1,566,913	1.9	%
DSI Digital, LLC - Convertible Note, 8.00%, 3/31/2025	March 24, 2021	5,515,000		5,515,000		8,151,885	9.8	%
DSI Digital, LLC - Series A Convertible Preferred Units	November 29, 2017	5,791,621		8,560,000		7,418,808	8.9	%
DSI Digital, LLC, Exercise Price $0.01, Expiration Date 3/28/2025	February 28, 2023	483,827		-		362,906	0.4	%
EJF Sidecar Fund, Series LLC - Small Financial Equities Series	October 25, 2017	-		270,695		248,578	0.3	%
GPB Automotive Portfolio LP	March 13, 2015	10		500,000		294,008	0.4	%
Gravity Ranch Fund I LP	June 13, 2017	-		500,000		67,065	0.1	%
Harbert Seniors Housing Fund I LP	February 24, 2017	-		1,271,672		1,401,408	1.7	%
Harbert Seniors Housing Fund II LP	September 10, 2019	-		2,742,490		2,684,271	3.2	%
Kayne Anderson Energy Fund VII LP	September 12, 2016	-		1,918,230		1,304,978	1.6	%
LaGrange Senior Living, LLC - Class A Interests	September 11, 2019	1,800,000		1,800,000		1,984,885	2.4	%
Level ATI HoldCo, LLC - Class A	September 10, 2018	-		1,690,000		4,143,227	5.0	%
Metro Diner, LLC - Series B Units	November 16, 2017	3,500,000		2,276,542		2,569,180	3.1	%
Metro Diner, LLC - Series II Common Units	November 16, 2017	1,880,968		1,223,458		1,362,387	1.6	%
Midcon Holdco Partners, LLC	December 29, 2020	182		181,858		285,071	0.3	%
PineBridge Secondary Partners IV SLP	September 19, 2017	-		730,627		1,274,064	1.5	%
Reach Enterprises, Inc. - Common Units	August 8, 2019	8,800,000		2,758,800		108,957	0.1	%
Reach Enterprises, Inc. - Convertible Note, 8.00%, 7/30/2023	April 30, 2021	5,745,250		5,745,250		5,051,868	6.1	%
Reach Enterprises, Inc. - Convertible Note, 12.00%, 10/1/2023	October 2, 2020	2,500,000		2,500,000		2,668,750	3.2	%
Reach Enterprises, Inc. - Series Seed-1 Preferred Units	August 5, 2020	309,150		458,001		25,891	0.0	%
Reach Enterprises, Inc. - Series Seed-2 Preferred Units	July 15, 2020	1,288,103		1,526,647		107,878	0.1	%
Rosebrook Opportunities Fund LP	February 2, 2017	-		994,053		603,602	0.7	%
Schweizer RSG, LLC, Exercise Price $112.50, Expiration Date 1/21/2028	February 6, 2018	1,442		-		1,846	0.0	%
Sequin, Inc. - Convertible Note, 8.00%, 7/20/2023	July 22, 2020	2,098,889		2,098,889		479,564	0.6	%
Sequin, Inc. - Convertible Note, 12.00%, 3/20/2024	May 30, 2023	200,000		200,000		200,000	0.2	%
Sequin, Inc., Exercise Price $0.001, Expiration Date 3/30/2026	March 31, 2021	6,410		-		-	0.0	%
Sequin, Inc. - Promissory Note, 12.00%, 3/20/2024	March 31, 2021	250,000		250,000		53,592	0.1	%
Shopoff Land Fund III LP	April 28, 2015	56		34,846		51,520	0.1	%
StepStone VC Opportunities V, L.P.	January 18, 2018	-		378,625		790,981	1.0	%
Stonehill Strategic Hotel Credit Opportunity Fund II LP	July 18, 2016	124,099		124,099		441,755	0.5	%
The Work Shop Limited T/A RIP Global - Convertible Note, 12.00%, 12/31/2023	July 22, 2020	2,033,611		2,033,611		1,997,427	2.4	%
Thunder Investment Partners, LLC	November 2, 2018	2,066,031		2,066,031		1,707,428	2.1	%
Walton Street Real Estate Fund VIII LP	May 24, 2017	-		175,030		450,812	0.5	%
Waratek, Ltd. - Common Shares	November 24, 2021	7,627,254		3,191,374		9,102,668	10.8	%
Waratek, Ltd., Exercise Price 0.01 Euro, Expiration Date 1/22/2028	June 5, 2018	646,328		-		765,455	0.9	%
Waratek, Ltd. - Series B-1	June 5, 2018	635,838		2,990,569		2,599,338	3.1	%
Waratek, Ltd. - Series B-2	December 28, 2017	756,826		3,696,940		3,371,041	4.1	%
WG Pitts Caribbean, LLC - Common Units	October 12, 2018	-		426,040		-	0.0	%
WG Pitts Caribbean, LLC - Promissory Note, 12.00%, 3/31/2026	August 14, 2020	4,436,896		4,010,856		1,826,180	2.2	%
			$	91,944,561	$	97,806,056