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1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS

JUNE 30, 2026

(Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Debt Investments Structured

Finance – Debt Investments

Apex Credit CLO 2019 Ltd.

CLO secured notes – Class FRR(3)(17), 14.13% (SOFR + 10.45%,

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

due July 18, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/31/2024$ 2,775,000  $2,369,478  $1,186,868

BlueMountain CLO 2015-4 Ltd.

CLO secured notes – Class ER(3)(17), 9.89% (SOFR + 6.21%, due

April 20, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/19/2022837,000816,536731,873

BlueMountain CLO 2018-1 Ltd.

CLO secured notes – Class F(3)(6)(17), 12.14% (SOFR + 8.47%, due

July 30, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/18/20199,033,4567,992,601271,004

BlueMountain Fuji US CLO II Ltd.

CLO secured notes – Class D(3)(17), 10.09% (SOFR + 6.41%, due

October 20, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/09/20224,750,0004,210,2373,217,175

Highbridge Loan Management 5-2015, Ltd.

CLO secured notes – Class FRR(3)(17), 11.93% (SOFR + 8.26%, due

October 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/03/20214,375,0004,034,217443,188

Highbridge Loan Management 2013-2, Ltd.

CLO secured notes – Class ER(3)(20), 0.00% (0.00%, due October 20,

2029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/20/20221,270,2841,067,671156,626

Nassau 2017-II Ltd.

CLO secured notes – Class E(3)(10)(20), 0.00% (0.00%, due January 15,

2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/07/20223,087,5592,837,24883,364

Octagon Investment Partners 36, Ltd.

CLO secured notes – Class F(3)(17), 11.68% (SOFR + 8.01%, due

April 15, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/08/20231,600,0001,168,984461,440

OZLM IX, Ltd.

CLO secured notes – Class ERR(3)(10)(17), 12.28% (SOFR + 8.60%,

due October 20, 2031). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/16/20231,127,746856,006—

Sound Point CLO V-R, Ltd.

CLO secured notes – Class F(3)(6)(17), 12.04% (SOFR + 8.36%, due

July 18, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	05/25/2022	1,615,653	1,346,572		162
Total Structured Finance – Debt Investments . . . . . . . . . . . . . . . . . .			$26,699,550		$6,551,700		0.62%
Total Collateralized Loan Obligation – Debt Investments . . . . . . . .			$26,699,550		$6,551,700		0.62%

Collateralized Loan Obligation – Equity Investments

Structured Finance – Equity Investments

522 Funding CLO I Ltd.

CLO subordinated notes(5)(7), (Estimated yield 1.77%, maturity

April 15, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/03/202329,800,00011,224,3911,290,340

AGL CLO 40 Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.47%, maturity

July 22, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/28/202537,157,50037,284,07225,638,675

AIMCO CLO 10, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 15.78%, maturity

July 22, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/09/202532,857,70020,212,05416,428,850

(Continued on next page)

2

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

AIMCO CLO 26, Ltd.

CLO preferred shares(4)(7)(16), (Estimated yield 16.73%, maturity

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

March 19, 2027) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/26/2024$ 4,450,000  $4,450,000  $4,450,000

AIG CLO 2018-1, LLC

CLO subordinated notes(5)(7), (Estimated yield 8.92%, maturity

April 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/25/202320,518,40012,970,1066,155,520

Allegro CLO XII, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 13.72%, maturity

July 21, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/25/202513,147,0006,684,2414,864,390

Allegro CLO XIII, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 18.04%, maturity

July 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/21/202515,623,2207,587,5575,468,127

ALM VII(R), Ltd.

CLO subordinated notes(5)(7)(10)(11)(19), (Estimated yield 0.00%,

maturity January 15, 2036) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/05/202428,480,0003,799,2161,663,232

AMMC CLO 25, Limited

CLO subordinated notes(5)(7), (Estimated yield 15.03%, maturity

October 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/27/202222,569,10015,049,07811,623,087

Anchorage Capital CLO 1-R, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

April 13, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/13/202012,150,000497,41067,632

Anchorage Capital CLO 4-R, Ltd.

CLO subordinated notes(5)(7)(10)(11)(19), (Estimated yield 0.00%,

maturity January 28, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/20/20199,000,000511,01518,900

Anchorage Capital CLO 5-R, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

January 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/16/201927,316,000740,8246,007

Anchorage Capital CLO 17, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 9.97%, maturity

February 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/04/202140,911,00024,640,30113,500,630

Apex Credit CLO 2018 Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

April 25, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/14/201812,420,0002,100,0121,242

Apex Credit CLO 2019 Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

July 18, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/13/201917,500,00010,118,6431,799,918

Apex Credit CLO 2019-II Ltd.

CLO subordinated notes(5)(7), (Estimated yield 7.66%, maturity

January 25, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/27/20204,500,0002,018,033315,000

Apidos CLO XVIII-R

CLO subordinated notes(5)(7), (Estimated yield 17.09%, maturity

January 22, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/24/202214,986,1005,841,6184,345,969

(Continued on next page)

3

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Apidos CLO XX

CLO subordinated notes(5)(7)(10)(11)(19), (Estimated yield 0.00%,

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

maturity July 16, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/19/2025$ 16,400,000  $—  $533,000

Apidos CLO XXIII

CLO subordinated notes(5)(7)(10), (Estimated yield 13.07%, maturity

April 15, 2033) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/01/20225,000,0001,017,283205,000

Apidos CLO LI, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 11.32%, maturity

January 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12/18/202416,000,00013,625,2259,974,400

Ares CLO Warehouse 2025-1 Ltd.

Subordinated warehouse notes(4)(7)(16), (Estimated yield 21.00%,

maturity July 10, 2027) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/12/20259,345,0009,345,0009,345,000

Ares XXVII CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 8.87%, maturity

October 28, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/06/201927,871,69011,393,0594,349,265

Ares XXXVR CLO Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

July 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/13/20227,000,000—9,100

Ares XXXVII CLO Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

October 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/12/201933,500,000650,391190,950

Ares XL CLO Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

January 15, 2029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/30/201741,274,000—37,147

Ares XLII CLO Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

January 22, 2028) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/23/202121,910,0002,641,390201,572

Ares XLIV CLO Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 16.05%, maturity

April 15, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12/15/2023111,500,00029,482,67111,083,710

Ares XLVI CLO Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

January 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/25/20226,400,000164,24816,640

Ares XLIX CLO Ltd.

CLO subordinated notes(5)(7), (Estimated yield 9.92%, maturity

October 22, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/19/202216,650,0004,418,9151,831,500

Ares LVII CLO Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.61%, maturity

October 25, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/22/202238,207,70018,173,24411,187,466

Ares LXI CLO Ltd.

CLO subordinated notes(5)(7), (Estimated yield 1.19%, maturity

April 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/25/202113,000,0008,294,4072,240,876

(Continued on next page)

4

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Ares LXVII CLO Ltd.

CLO subordinated notes(5)(7), (Estimated yield 18.36%, maturity

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

January 25, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/31/2022$ 26,046,000  $19,351,504  $15,039,163

Ares Loan Funding II, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 16.64%, maturity

October 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/06/20257,101,6755,746,5234,217,847

Ares Loan Funding VII, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 8.70%, maturity

October 22, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/16/202430,000,00022,301,02712,883,212

Ares Loan Funding VIII, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 13.88%, maturity

January 24, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12/19/202456,782,00042,992,76130,742,150

Ares Loan Funding IX, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 16.30%, maturity

March 31, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/03/202513,750,00010,473,0568,059,909

Atlas Senior Loan Funding XVII, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 3.59%, maturity

October 20, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/20/20216,000,0003,110,969660,000

Atlas Senior Loan Fund XVIII, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

January 18, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/21/20226,000,0003,093,768960,000

Atrium XV

CLO subordinated notes(5)(7)(11), (Estimated yield 2.87%, maturity

July 16, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/17/201923,394,73711,247,0574,445,000

Barings CLO Ltd. 2019-III

CLO subordinated notes(5)(7), (Estimated yield 12.87%, maturity

January 20, 2036) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/28/202530,726,50213,609,6189,297,840

BBAM US CLO I, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 16.14%, maturity

March 30, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/16/202518,500,00012,955,3128,743,785

BlueMountain CLO 2015-4 Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

April 20, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/22/20209,644,7001,246,19713,503

BlueMountain CLO 2016-3 Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

November 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/18/20209,897,5002,446,12849,488

BlueMountain CLO 2018-1 Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

July 30, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/14/20209,000,00056,725900

BlueMountain CLO 2018-3 Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

October 25, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/11/202023,825,0002,092,04459,563

(Continued on next page)

5

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

BlueMountain CLO XXXI Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 13.84%, maturity

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

April 19, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/16/2024$ 18,194,883  $9,683,007  $4,548,721

BlueMountain CLO XXXIV Ltd.

CLO subordinated notes(5)(7), (Estimated yield 1.24%, maturity

April 20, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/23/202210,700,0008,036,3743,210,000

BlueMountain Fuji US CLO II Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

October 20, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/13/202027,980,0007,390,10269,950

Brant Point CLO 2024-3, Ltd. (formerly known as Sound Point

CLO 38, Ltd.)

CLO subordinated notes(5)(7)(11), (Estimated yield 20.46%, maturity

January 20, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/29/20255,750,0004,196,4003,478,750

Brant Point CLO 2024-5, Ltd. (formerly known as Sound Point

CLO 40, Ltd.)

CLO subordinated notes(5)(7), (Estimated yield 12.30%, maturity

October 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/06/202428,635,00024,944,16717,753,700

Carlyle Global Market Strategies CLO 2014-5, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

July 15, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/27/20197,134,333852,76247,087

Carlyle Global Market Strategies CLO 2016-3, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 41.99%, maturity

July 20, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/10/202535,445,6145,793,3742,835,649

Carlyle US CLO 2020-1, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 13.72%, maturity

January 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/04/202328,783,40415,657,2599,878,464

Carlyle US CLO 2020-2, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 9.95%, maturity

January 25, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/21/202014,558,3338,704,7453,785,167

Carlyle US CLO 2021-2, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 22.11%, maturity

April 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/13/20261,670,000806,820768,200

Carlyle US CLO 2021-8, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 10.97%, maturity

October 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/24/202152,839,50033,489,75917,965,430

Carlyle US CLO 2021-11, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 7.45%, maturity

July 25, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/11/202435,949,20017,289,7519,706,284

Carlyle US CLO 2022-3, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 14.13%, maturity

April 20, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/26/202419,370,00015,301,4099,973,613

(Continued on next page)

6

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Carlyle US CLO 2024-6, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 10.49%, maturity

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

October 25, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/10/2024$ 48,222,222  $39,079,870  $25,075,555

Carlyle US CLO 2025-E, Ltd.

Subordinated warehouse notes(4)(7)(16), (Estimated yield 19.05%,

maturity May 20, 2027) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/21/20255,000,0005,000,0005,000,000

Carlyle US CLO 2025-3, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 13.27%, maturity

July 25, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/21/202554,824,00044,251,45331,249,680

CBAMR 2017-1, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 22.97%, maturity

January 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/07/20266,500,0001,613,9861,462,500

CBAM 2019-10, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

April 20, 2032) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/30/202415,000,000187,939267,000

CBAM 2021-14, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 7.05%, maturity

October 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/24/202237,085,30016,536,1316,675,354

CBAMR 2021-15, LLC

CLO subordinated notes(5)(7)(11), (Estimated yield 14.51%, maturity

January 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/07/202528,883,68712,668,8318,087,432

Cedar Funding IV CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 11.41%, maturity

January 23, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/10/202247,440,00021,461,14011,860,000

Cedar Funding VIII CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 14.18%, maturity

January 17, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/28/202259,507,50025,443,56616,662,100

Cedar Funding X CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 10.26%, maturity

October 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12/16/202418,000,00011,537,6206,359,400

Cedar Funding XII CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.22%, maturity

January 25, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/23/202232,008,57522,585,13813,763,687

Cedar Funding XIV CLO, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 8.55%, maturity

October 15, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12/10/202421,540,00011,720,9576,031,200

Cedar Funding XV CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.72%, maturity

January 20, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/16/202234,235,00024,535,50114,378,700

CIFC Funding 2014-III, Ltd.

CLO income notes(5)(7)(11), (Estimated yield 17.05%, maturity

March 31, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/06/201824,208,50013,714,99310,651,740

(Continued on next page)

7

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

CIFC Funding 2025-VIII, Ltd.

CLO subordinated notes(5)(7)(9), (Estimated yield 15.11%, maturity

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

January 24, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/06/2025$ 41,207,000  $40,981,435  $35,438,020

Columbia Cent CLO 28 Limited

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

November 07, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/14/202240,000,0009,083,733252,000

Crestline Denali CLO XVI, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

January 20, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/10/202122,000,000982,0852,200

Croton Park CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 8.61%, maturity

October 15, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/28/202439,573,00033,422,04317,807,850

Dryden 38 Senior Loan Fund

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

July 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/23/202113,100,0002,050,128210,910

Dryden 75 CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 19.76%, maturity

April 14, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/17/202230,000,0009,515,3844,574,632

Dryden 76 CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 10.83%, maturity

October 15, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/11/202421,989,0008,887,8374,894,274

Dryden 78 CLO, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 10.89%, maturity

April 17, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/25/202319,913,72611,233,6126,571,530

Dryden 86 CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 2.02%, maturity

July 17, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/23/202235,350,00019,726,3906,363,000

Dryden 87 CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 14.61%, maturity

August 20, 2038). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/01/202439,886,40020,191,24112,364,784

Dryden 106 CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.56%, maturity

October 15, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/18/202232,302,50023,501,62613,600,862

Dryden 108 CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 10.22%, maturity

July 18, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/15/202328,600,00021,495,48312,441,000

Dryden 109 CLO, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 22.76%, maturity

April 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/05/202621,400,0008,295,7377,390,386

Elevation CLO 2020-11, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 7.09%, maturity

October 15, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/21/202062,021,05227,456,39811,163,789

(Continued on next page)

8

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Elevation CLO 2021-12, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 9.96%, maturity

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

April 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/11/2021$ 44,245,037  $20,324,567  $9,291,458

Elevation CLO 2021-14, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 9.18%, maturity

January 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/21/202152,930,90527,615,82213,497,381

Elm CLO 2014-1 Ltd.

CLO subordinated notes(5)(7), (Estimated yield 49.15%, maturity

April 17, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/13/202437,275,0004,906,3521,491,000

Elmwood CLO 14 Ltd.

CLO subordinated notes(5)(7), (Estimated yield 11.07%, maturity

October 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/24/202332,359,86421,133,86913,752,942

Elmwood CLO 16 Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 5.64%, maturity

April 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/18/202439,850,00024,662,37013,549,000

Elmwood CLO 38 Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.97%, maturity

April 22, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/17/202549,662,00038,496,75429,300,580

Elmwood CLO V Ltd.

CLO subordinated notes(5)(7), (Estimated yield 9.47%, maturity

October 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/25/202210,400,0007,991,6794,680,000

Elmwood CLO VI, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 8.20%, maturity

July 18, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/11/202424,327,00015,761,9318,271,180

Elmwood CLO XII Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 13.67%, maturity

October 15, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/24/202332,250,00018,343,31910,642,500

Franklin Park Place CLO I

CLO subordinated notes(5)(7)(11), (Estimated yield 8.28%, maturity

April 14, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/30/202429,915,74314,946,5555,983,149

Gulf Stream Meridian 5 Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 13.84%, maturity

October 15, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/11/202414,423,6847,210,9725,051,224

Highbridge Loan Management 3-2014, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

July 18, 2029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/19/202025,500,0004,757,4462,550

Highbridge Loan Management 5-2015, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

October 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/03/202123,125,000615,1802,313

HPS Loan Management 10-2016, Ltd.

CLO income notes(5)(7), (Estimated yield 0.50%, maturity

April 20, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/21/202128,161,44810,686,3532,534,530

(Continued on next page)

9

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

HPS Loan Management 2021-16, Ltd.

CLO income notes(5)(7), (Estimated yield 10.84%, maturity

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

January 23, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/12/2021$ 32,364,000  $20,854,982  $9,385,560

ICG US CLO 2018-2, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

July 22, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/24/202217,950,000652,67075,390

Kennedy Lewis CLO 5, Ltd. (formerly known as York

CLO-5 Ltd.)

CLO subordinated notes(5)(7), (Estimated yield 5.36%, maturity

July 22, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/20/202132,625,00013,452,6755,546,250

Kennedy Lewis CLO 6, Ltd. (formerly known as York

CLO-6 Ltd.)

CLO subordinated notes(5)(7), (Estimated yield 6.53%, maturity

October 22, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/16/202420,700,00015,232,8897,866,000

Kennedy Lewis CLO 11, Ltd. (formerly known as Generate

CLO 11 Ltd.)

CLO subordinated notes(5)(7)(11), (Estimated yield 8.01%, maturity

October 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/03/202515,211,00012,915,9045,932,290

Kings Park CLO, Ltd.

CLO income notes(5)(7), (Estimated yield 8.09%, maturity

January 21, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12/07/202146,879,25033,818,19713,594,983

Lakeside Park CLO, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 12.95%, maturity

April 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/07/202555,824,33342,238,18729,028,653

LCM 35 Ltd.

CLO income notes(5)(7)(19), (Estimated yield 0.00%, maturity

October 15, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/28/202128,000,00013,706,4781,233,402

LCM 40 Ltd.

CLO subordinated notes(5)(7), (Estimated yield 10.83%, maturity

January 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/20/202317,000,0009,510,0605,307,328

Madison Park Funding XI, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

July 23, 2029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/21/202219,000,000—60,800

Madison Park Funding XIII, Ltd.

CLO subordinated notes(5)(7)(10)(11)(19), (Estimated yield 0.00%,

maturity April 19, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/17/201921,500,000123,559163,400

Madison Park Funding XXI, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

October 15, 2032) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/26/20227,000,0001,759,437212,800

Madison Park Funding XXIV, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%, maturity

October 20, 2029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/28/20193,568,7501,292,070321,188

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Madison Park Fund XLI, Ltd. (fka: Atrium XII CLO)

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

April 22, 2027) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/08/2015$ 39,075,000  $—  $113,318

Magnetite XLV, Limited

CLO subordinated notes(5)(7), (Estimated yield 15.23%, maturity

April 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/12/202550,550,00043,766,54234,374,000

Magnetite XLVII, Limited

CLO subordinated notes(5)(7)(11), (Estimated yield 10.85%, maturity

January 25, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/17/202450,484,00046,224,25428,271,040

Marble Point CLO XVI Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 14.34%, maturity

November 16, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/17/202415,250,0007,422,3943,507,500

Marble Point CLO XVII Ltd.

CLO subordinated notes(5)(7), (Estimated yield 16.46%, maturity

July 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/09/202317,000,0008,160,7074,930,000

Marble Point CLO XVIII Ltd.

CLO subordinated notes(5)(7), (Estimated yield 16.15%, maturity

March 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/25/202248,185,41928,719,74316,864,897

Marble Point CLO XXIV Ltd.

CLO subordinated notes(5)(7), (Estimated yield 8.32%, maturity

April 20, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/24/202327,190,00015,481,2226,933,450

Mariner CLO 8, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 12.62%, maturity

October 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/08/202312,439,2806,634,4624,291,552

Medalist Partners Corporate Finance CLO VI Ltd.

CLO subordinated notes(5)(7), (Estimated yield 17.69%, maturity

October 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/20/202328,709,8805,466,3562,178,944

Midocean Credit CLO VI

CLO income notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

April 20, 2033) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/08/201629,700,00012,229,90195,040

Milford Park CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 20.33%, maturity

January 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/12/202227,960,00017,968,34213,980,000

MP CLO VIII, Ltd.

CLO income notes(5)(7)(19), (Estimated yield 0.00%, maturity

April 28, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/10/202111,000,0003,042,623825,000

Nassau 2017-II Ltd.

CLO income notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

January 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/17/201924,400,0008,200,260—

Neuberger Berman CLO XIV, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

January 28, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/26/20227,800,000——

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Neuberger Berman CLO XVII, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 13.84%, maturity

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

July 22, 2040) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/13/2024$ 89,617,246  $18,694,391  $13,442,587

Nyack Park CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 10.38%, maturity

October 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/02/202144,553,80027,650,72714,257,216

Oaktree CLO 2019-1 Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%, maturity

April 22, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/12/20245,000,000—104,500

Oaktree CLO 2019-2 Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 12.82%, maturity

October 15, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/30/202544,000,00018,649,72111,440,000

Oaktree CLO 2019-3, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 13.38%, maturity

January 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/21/202442,243,48026,676,74318,164,696

Oaktree CLO 2019-4, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 14.28%, maturity

July 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/29/202510,000,0006,037,5574,450,000

Oaktree CLO 2022-1, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 13.41%,

maturity July 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/01/202432,722,22321,295,40914,070,556

Oaktree CLO 2022-2, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 14.03%,

maturity October 15, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/21/202537,000,00027,209,52719,240,000

OCP CLO 2016-11, Ltd.

CLO preference shares(5)(7)(11), (Estimated yield 12.55%,

maturity July 26, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/31/202450,925,00022,548,21714,768,250

OCP CLO 2020-18, Ltd.

CLO preference shares(5)(7), (Estimated yield 9.52%,

maturity July 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/16/202246,010,00017,643,88311,042,400

Octagon Investment Partners XXII, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity January 22, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/07/201832,055,0004,822,3683,206

Octagon Investment Partners 31, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

maturity July 20, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/09/202529,325,000—167,153

Octagon Investment Partners 36, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity April 15, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/24/202110,250,0001,553,73725,625

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Octagon Investment Partners 38, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 7.26%,

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

maturity October 20, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/13/2022$ 27,930,029  $7,559,993  $3,491,254

Octagon Investment Partners 40, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity January 20, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/14/201917,740,0006,514,688887,000

Octagon Investment Partners 41, Ltd.

CLO subordinated notes(5)(7)(11)(19), (Estimated yield 0.00%,

maturity October 15, 2033). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/25/202417,000,0005,886,5641,131,027

Octagon Investment Partners 42, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 11.06%,

maturity July 15, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/16/202331,965,07812,947,4796,200,306

Octagon Investment Partners 47, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.96%,

maturity January 22, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/19/202352,689,00025,345,92415,279,810

Octagon Investment Partners 48, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 9.15%,

maturity January 15, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/25/202214,225,0008,338,5954,963,103

Octagon 52, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 8.85%,

maturity July 23, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/05/202433,926,82922,397,05011,365,488

Octagon 57, Ltd.

CLO income notes(5)(7)(11), (Estimated yield 6.08%,

maturity October 15, 2034). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/13/202131,725,00018,804,6455,128,903

Octagon 60, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.75%,

maturity October 20, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/08/202235,750,00029,579,03618,768,750

Octagon 64, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 22.74%,

maturity July 21, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/10/2025110,000,00026,770,88312,650,000

Octagon 75, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.30%,

maturity January 22, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/31/202553,044,00045,637,92229,704,640

OCP CLO 2024-34, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 8.57%,

maturity October 15, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/02/202433,300,00029,199,15117,149,500

OCP CLO 2024-37, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 10.45%,

maturity October 15, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/27/202427,035,00023,844,68015,409,950

OFSI BSL VIII, Ltd.

CLO preferred shares(5)(7)(19), (Estimated yield 0.00%,

maturity August 16, 2029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/26/20198,500,0002,490,915586,500

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

OFSI BSL X, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 11.22%,

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

maturity April 20, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/01/2023$ 24,700,000  $14,181,800  $2,840,500

Onex CLO Subsidiary 2025-F, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 13.03%,

maturity May 21, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/09/202548,950,00041,828,35930,838,500

OZLM VII, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

maturity July 17, 2029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/29/202021,891,6731,483,57810,946

OZLM IX, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

maturity October 20, 2031). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/24/202213,000,000995,891—

OZLM XXIII, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 11.30%,

maturity October 15, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/10/202431,755,00014,992,3567,621,200

OZLM XIV, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 7.81%,

maturity January 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12/07/201535,176,66714,195,4095,980,033

OZLM XIX, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 19.71%,

maturity January 15, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/29/202242,795,00017,898,9919,063,834

Park Blue CLO 2022-II, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 22.02%,

maturity July 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/05/202610,920,0003,352,4833,330,600

Peace Park CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 10.90%,

maturity October 20, 2038). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/15/202418,750,00012,871,8895,625,000

Polus US CLO I Ltd.

CLO subordinated notes(5)(7), (Estimated yield 17.83%,

maturity October 20, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/12/202510,000,0005,964,4114,400,000

Post CLO 2018-1 Ltd.

CLO subordinated notes(5)(7), (Estimated yield 14.89%,

maturity October 16, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/05/202529,282,50012,217,3537,027,800

Regatta VI Funding Ltd.

CLO income notes(5)(7), (Estimated yield 13.76%, maturity

October 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/21/202133,675,70012,133,9245,724,869

Regatta X Funding Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 15.70%,

maturity July 17, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/09/202531,600,0007,224,4343,160,000

Regatta XIV Funding Ltd.

CLO subordinated notes(5)(7)(10)(11)(19), (Estimated yield 0.00%,

maturity October 25, 2031). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/20/202550,300,000—663,960

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Regatta XVIII Funding Ltd.

CLO subordinated notes(5)(7), (Estimated yield 15.10%,

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

maturity April 15, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/18/2021$ 29,740,356  $19,714,242  $12,788,353

Regatta XXII Funding Ltd.

CLO subordinated notes(5)(7), (Estimated yield 18.07%,

maturity January 15, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/06/202238,823,00027,392,78220,964,420

Regatta XXIII Funding Ltd.

CLO income notes(5)(7)(11), (Estimated yield 14.24%,

maturity October 15, 2038). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/04/202134,536,00022,584,99014,332,440

Regatta XXVI Funding Ltd.

CLO subordinated notes(5)(7), (Estimated yield 14.59%,

maturity January 25, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/31/202323,022,50020,789,89313,813,500

Regatta XXIX Funding Ltd.

CLO subordinated notes(5)(7), (Estimated yield 11.46%,

maturity September 06, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/02/202438,542,64033,333,49720,813,026

Regatta 32 Funding Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 14.42%,

maturity July 25, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/11/202528,657,35628,830,75519,810,830

Riserva CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 1.77%,

maturity January 18, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/18/202213,600,0003,684,931210,800

Rockford Tower CLO 2019-1, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 10.65%,

maturity April 20, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/13/202310,000,0004,691,4641,200,000

Rockford Tower CLO 2021-2, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 27.62%,

maturity July 20, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/22/202524,500,00010,784,5854,410,000

Rockford Tower CLO 2022-1, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 3.34%,

maturity July 20, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/06/202238,068,75024,016,4329,136,500

Rockford Tower CLO 2022-3, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 20.15%,

maturity July 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/09/202321,000,00010,654,5107,560,000

Rockford Tower CLO 2025-2, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 14.78%,

maturity March 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/17/202530,616,00025,670,32617,144,960

Rockford Tower CLO 2025-3, Ltd.

CLO subordinated notes(5)(7)(9)(11), (Estimated yield 26.76%,

maturity March 31, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/11/202610,500,0006,633,1836,393,450

Rockland Park CLO, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 6.46%,

maturity July 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/26/202140,650,49823,666,82210,975,634

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Sculptor CLO XXIX, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 13.47%,

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

maturity July 22, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/20/2023$ 24,180,000  $11,531,645  $6,045,000

Sculptor CLO XXXII, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 14.16%,

maturity April 30, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/06/202412,000,0007,800,0165,400,000

Sculptor CLO XXXIII, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 7.98%,

maturity July 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/01/20245,786,0004,028,2162,256,540

Sculptor CLO XXXIV, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 9.56%,

maturity January 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/15/20246,579,0004,723,6152,828,970

Sculptor CLO XXXV, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 13.26%,

maturity April 27, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/24/20258,170,0005,670,7764,085,000

Sculptor CLO XXXVII, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 15.83%,

maturity January 15, 2039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/23/202534,400,00027,336,96522,459,760

Shackleton 2013-IV-R CLO, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity April 13, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/14/201824,500,0002,354,1562,450

Signal Peak CLO 4, Ltd.

CLO subordinated notes(5)(7)(11)(19), (Estimated yield 0.00%,

maturity October 26, 2034). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/09/202341,187,6858,241,8921,647,507

Signal Peak CLO 5, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 13.14%,

maturity April 25, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/20/202433,067,5008,711,1124,629,450

Signal Peak CLO 7, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 13.04%,

maturity October 20, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/21/202522,817,0009,271,5105,704,250

Signal Peak CLO 9, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 9.52%,

maturity January 21, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/19/202135,217,80823,407,74011,974,055

Signal Peak CLO 10, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 20.08%,

maturity January 24, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/16/202343,637,00321,560,73517,891,171

Sound Point CLO V-R, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity July 18, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/04/202144,500,0002,859,6674,450

Sound Point CLO XX, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity July 26, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/07/202113,000,0004,520,0421,300

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Sound Point CLO XXIII, Ltd.

CLO subordinated notes(5)(7)(11)(19), (Estimated yield 0.00%,

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

maturity July 15, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/09/2024$ 19,202,500  $4,841,669  $902,060

Sound Point CLO XXIX, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.48%,

maturity April 25, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/09/202321,428,0009,111,3032,142,800

Sound Point CLO XXX, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 9.25%,

maturity July 25, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/03/202321,151,5009,137,8861,903,635

Sound Point CLO XXXIII, Ltd

CLO subordinated notes(5)(7), (Estimated yield 6.51%,

maturity April 25, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/01/202315,733,1767,036,8962,202,645

Symphony CLO XVII, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

maturity April 15, 2028) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/21/20237,750,000——

TCW CLO 2021-2, Ltd.

CLO subordinated notes(5)(7)(11), (Estimated yield 10.69%,

maturity October 24, 2038). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/25/20245,625,0003,143,8571,631,250

TCW CLO 2022-1, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 15.34%,

maturity January 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/25/202428,486,00014,629,1159,400,380

TCW CLO 2025-1, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 13.18%,

maturity April 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/18/202526,075,00021,364,01413,819,750

Telos CLO 2013-3, Ltd.

CLO subordinated notes(5)(7)(11)(19), (Estimated yield 0.00%,

maturity July 17, 2026) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/25/201314,332,2106,266,4091,433

Telos CLO 2014-6, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity January 17, 2027) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11/08/201721,400,0009,166,6402,140

THL Credit Wind River 2017-1 CLO Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

maturity April 18, 2036) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/02/201714,200,0005,987,2772,218,040

THL Credit Wind River 2018-3 CLO Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

maturity January 20, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/02/202225,400,0007,252,7291,412,240

Tralee CLO II, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity July 20, 2029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/06/20186,300,0001,683,974630

Venture XX CLO, Limited

CLO subordinated notes(5)(7)(10)(11)(19), (Estimated yield 0.00%,

maturity April 15, 2027) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/27/20187,200,000532,119—

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Venture XXI CLO, Limited

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

maturity July 15, 2027) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/16/2017$ 30,000,000  $13,459,356  $—

Venture XXV CLO, Limited

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

maturity April 20, 2029) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/25/202013,750,0001,606,193—

Venture 37 CLO, Limited

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity July 15, 2032) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/28/20198,500,0002,430,33921,250

Venture 41 CLO, Limited

CLO subordinated notes(5)(7), (Estimated yield 12.49%,

maturity January 20, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .04/06/202214,000,0006,503,9081,190,000

Venture 42 CLO, Limited

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity April 15, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/15/20217,000,0003,284,295385,000

Venture 44 CLO, Limited

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity October 20, 2034). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/16/202124,750,00011,113,1491,237,500

Venture 47 CLO, Limited

CLO subordinated notes(5)(7), (Estimated yield 7.57%,

maturity April 20, 2036) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/14/202313,000,0009,647,2865,525,000

Venture 48 CLO, Limited

CLO subordinated notes(5)(7), (Estimated yield 1.65%,

maturity October 20, 2036). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/24/202326,848,00019,984,3946,309,280

Verona Park CLO, Ltd.

Subordinated warehouse notes(4)(7)(11)(16), (Estimated yield 18.07%,

maturity July 07, 2027) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/04/20256,620,5566,620,5566,620,556

Vibrant CLO III, Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity October 20, 2031). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .02/05/201931,810,0005,797,83731,810

Vibrant CLO XIV, Ltd.

CLO subordinated notes(5)(7)(10), (Estimated yield 7.87%,

maturity October 20, 2034). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/17/202231,400,00017,949,6487,444,940

Voya CLO 2018-4, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 13.95%,

maturity October 15, 2037). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .01/03/202438,851,80012,125,9487,230,927

Voya CLO 2020-3, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 12.48%,

maturity January 20, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/03/202215,220,00010,549,2827,610,000

Voya CLO 2024-4, Ltd.

CLO subordinated notes(5)(7), (Estimated yield 11.05%,

maturity July 20, 2037) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .07/12/202442,720,00039,692,17527,981,600

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation – Equity Investments (continued)

Structured Finance – Equity Investments (continued)

Wellfleet 2016-2 CLO, Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

maturity October 20, 2028). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .09/28/2016$ 11,000,000  $5,194,674  $51,700

Wind River 2018-2 CLO Ltd.

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

maturity July 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10/17/202432,250,000—696,600

Wind River 2021-2 CLO Ltd.

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity July 20, 2034) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .05/14/202130,700,00015,787,4234,298,000

Wind River 2021-4 CLO Ltd.

CLO subordinated notes(5)(7)(11)(19), (Estimated yield 0.00%,

maturity January 20, 2035) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .08/15/20239,096,7503,657,717272,903

Wind River 2023-1 CLO Ltd.

CLO subordinated notes(5)(7), (Estimated yield 5.71%,

maturity July 25, 2038) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .03/13/202342,300,00032,755,10113,747,500

Zais CLO 7, Limited

CLO subordinated notes(5)(7)(19), (Estimated yield 0.00%,

maturity April 15, 2030) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .06/29/20219,200,0001,764,640920

Zais CLO 9, Limited

CLO subordinated notes(5)(7)(10)(19), (Estimated yield 0.00%,

maturity July 20, 2031) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	06/19/2018	12,700,000	4,218,467		29,210
Total Equity Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .			$ 2,987,493,820		$ 1,652,763,874		157.05%

Collateralized Loan Obligation Fee Notes – Equity

Investments – Other CLO Equity Related Investments

Structured Finance – Equity Fee Note Investments

AGL CLO 40 Ltd. CLO subordinated fee notes(8)(18), (maturity July 22, 2038) . . . . . . . . . .	03/28/2025	842,810	802,847
AMMC CLO 25, Limited CLO subordinated fee notes(8)(18), (maturity October 15, 2038). . . . . . .	04/27/2022	677,916	963,364
Apidos CLO XVIII-R CLO subordinated fee notes(8)(18), (maturity January 22, 2038) . . . . . . .	11/22/2024	230,274	239,990
Ares LXI CLO Ltd. CLO subordinated fee notes(8)(18), (maturity April 20, 2037) . . . . . . . . .	08/25/2021	232,344	214,687
BlueMountain Fuji US CLO II Ltd. CLO subordinated fee notes(8)(18), (maturity October 20, 2030). . . . . . .	12/22/2021	—	—
Carlyle Global Market Strategies CLO 2016-3, Ltd. CLO subordinated fee notes(8)(18), (maturity July 20, 2034) . . . . . . . . . .	06/10/2025	139,091	93,947
Carlyle US CLO 2020-1, Ltd. CLO subordinated fee notes(8)(18), (maturity January 20, 2038) . . . . . . .	01/17/2025	175,031	189,781

(Continued on next page)

1

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation Fee Notes – Equity

Investments – Other CLO Equity Related Investments (continued)

Structured Finance – Equity Fee Note Investments (continued)

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

Carlyle US CLO 2024-6, Ltd. CLO subordinated fee notes(8)(11)(18), (maturity October 25, 2037) . . . . .	10/10/2024	$590,311	$586,603
CBAM 2021-14, Ltd. CLO subordinated fee notes(8)(18), (maturity October 20, 2038). . . . . . .	09/05/2025	904,201	890,599
Columbia Cent CLO 28 Limited CLO subordinated fee notes(8)(10)(18), (maturity November 07, 2030) . . .	01/14/2022	—	—
Croton Park CLO, Ltd. CLO subordinated M fee notes(8)(18), (maturity October 15, 2037) . . . .	08/28/2024	1,974,332	1,722,854
Franklin Park Place CLO I CLO subordinated fee notes(8)(11)(18), (maturity April 14, 2038) . . . . . . .	05/30/2024	830,372	1,430,641
Highbridge Loan Management 3-2014, Ltd. CLO subordinated fee notes(8)(18), (maturity July 18, 2029) . . . . . . . . . .	04/06/2022	—	—
HPS Loan Management 2021-16, Ltd. CLO subordinated fee notes(8)(18), (maturity January 23, 2035) . . . . . . .	11/12/2021	470,650	212,854
Lakeside Park CLO, Ltd. CLO subordinated M fee notes(8)(11)(18), (maturity April 15, 2038) . . . . .	03/07/2025	2,083,595	1,893,025
LCM 40 Ltd. CLO subordinated fee notes(8)(18), (maturity January 15, 2038) . . . . . . .	04/20/2023	211,195	279,865
Marble Point CLO XVIII Ltd. CLO subordinated fee notes(8)(18), (maturity March 15, 2038) . . . . . . . .	02/21/2025	425,081	437,067
Medalist Partners Corporate Finance CLO VI Ltd. CLO subordinated fee notes(8)(18), (maturity October 20, 2038). . . . . . .	08/07/2025	1,069,756	951,936
Octagon 57, Ltd. CLO subordinated fee notes(8)(11)(18), (maturity October 15, 2034) . . . . .	10/13/2021	340,287	52,756
Octagon 60, Ltd. CLO subordinated fee notes(8)(18), (maturity October 20, 2037). . . . . . .	09/08/2022	753,584	802,298
Octagon 75, Ltd. CLO subordinated fee notes(8)(18), (maturity January 22, 2038) . . . . . . .	01/31/2025	738,643	711,516
Point AU Roche Park CLO, Ltd. CLO subordinated M1 fee notes(8)(18), (maturity July 20, 2034). . . . . . .	05/28/2021	80,952	97,121
CLO subordinated M2 fee notes(8)(18), (maturity July 20, 2034). . . . . . .	05/28/2021	145,922	159,185
Regatta VI Funding Ltd. CLO subordinated fee notes(8)(18), (maturity October 20, 2038). . . . . . .	09/12/2025	579,947	546,003
Regatta X Funding Ltd. CLO subordinated R1A fee notes(8)(18), (maturity July 17, 2037). . . . . .	05/09/2025	70,423	133,555
CLO subordinated R2 fee notes(8)(18), (maturity July 17, 2037) . . . . . . .	05/09/2025	633,798	995,385

(Continued on next page)

2

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation Fee Notes – Equity

Investments – Other CLO Equity Related Investments (continued)

Structured Finance – Equity Fee Note Investments (continued)

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

Regatta 32 Funding Ltd. CLO subordinated fee notes(8)(11)(18), (maturity July 25, 2038) . . . . . . . .	06/11/2025	$869,537	$783,296
Rockland Park CLO, Ltd. CLO subordinated M1 fee notes(8)(18), (maturity July 20, 2038). . . . . . .	04/26/2021	256,911	326,364
CLO subordinated M2 fee notes(8)(18), (maturity July 20, 2038). . . . . . .	04/26/2021	463,944	583,690
Rockford Tower CLO 2021-3, Ltd. CLO subordinated fee notes(8)(18), (maturity October 20, 2034). . . . . . .	09/22/2021	262,603	341,921
Rockford Tower CLO 2022-1, Ltd. CLO subordinated fee notes(8)(18), (maturity July 20, 2035) . . . . . . . . . .	05/06/2022	291,101	164,377
Rockford Tower CLO 2022-3, Ltd. CLO subordinated fee notes(8)(11)(18), (maturity July 20, 2037) . . . . . . . .	07/22/2024	357,301	371,095
Rockford Tower CLO 2025-2, Ltd. CLO subordinated fee notes(8)(18), (maturity March 20, 2038) . . . . . . . .	07/17/2025	1,077,017	989,420
Rockford Tower CLO 2025-3, Ltd. CLO subordinated fee notes(8)(9)(11)(18), (maturity March 31, 2038). . . . .	05/11/2026	385,718	366,343
Sound Point CLO XXIII, Ltd. CLO subordinated Y fee notes(8)(11)(18), (maturity July 15, 2034) . . . . . .	05/09/2024	69,233	—
Sound Point CLO XXIX, Ltd. CLO subordinated Y fee notes(8)(18), (maturity April 25, 2034) . . . . . . .	08/09/2023	96,255	33,405
Sound Point CLO XXX, Ltd. CLO subordinated Y fee notes(8)(18), (maturity July 25, 2034) . . . . . . . .	08/03/2023	114,299	33,721
Sound Point CLO XXXIII, Ltd CLO subordinated Y fee notes(8)(18), (maturity April 25, 2035) . . . . . . .	06/01/2023	129,809	49,418
THL Credit Wind River 2017-1 CLO Ltd. CLO subordinated fee notes(8)(10)(18), (maturity April 18, 2036) . . . . . . .	02/02/2017	50,303	—
Tralee CLO IV, Ltd. CLO subordinated fee notes(8)(18), (maturity January 20, 2030) . . . . . . .	03/16/2018	—	—
Venture XXV CLO, Limited CLO subordinated fee notes(8)(10)(18), (maturity April 20, 2029) . . . . . . .	09/25/2020	—	—
Venture 42 CLO, Limited CLO subordinated Y fee notes(8)(18), (maturity April 15, 2034) . . . . . . .	03/15/2021	156,663	28,354

(Continued on next page)

2

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

COMPANY/INVESTMENT(1)(13)(14)

Collateralized Loan Obligation Fee Notes – Equity

Investments – Other CLO Equity Related Investments (continued)

Structured Finance – Equity Fee Note Investments (continued)

ACQUISITION

DATE(15)

PRINCIPAL

AMOUNT/

SHARESCOST

FAIR

VALUE(2)

% OF NET

ASSETS

Wind River 2021-2 CLO Ltd. CLO subordinated fee notes(8)(18), (maturity July 20, 2034) . . . . . . . . . .	05/14/2021	$290,724		$118,700
Wind River 2023-1 CLO Ltd. CLO subordinated fee notes(8)(18), (maturity July 25, 2038) . . . . . . . . . .	03/13/2023	1,647,588		3,832,913
Total Other CLO Equity Related Investments . . . . . . . . . . . . . . . . .		$20,719,521		$22,430,896		2.13%
Total Structured Finance – Equity Investments . . . . . . . . . . . . . . . .		$ 3,008,213,341		$ 1,675,194,770		159.18%
Total Collateralized Loan Obligation – Equity Investments . . . . . .		$ 3,008,213,341		$ 1,675,194,770		159.18%
Total Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		$ 3,034,912,891		$ 1,681,746,470		159.80%

Cash Equivalents

First American Government Obligations Fund, Class Z Shares,

3.52%(12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	59,943,047	$59,943,047		$59,943,047
Total Cash Equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .		$59,943,047		$59,943,047		5.70%
Total Investments and Cash Equivalents . . . . . . . . . . . . . . . . . . . . . .		$ 3,094,855,938		$ 1,741,689,517		165.50%

(1)We do not “control” and are not an “affiliate” of any of our portfolio companies, each as defined in the Investment Company Act of 1940,

as amended (the “1940 Act”).

In general, under the 1940 Act, we would be presumed to “control” a portfolio company if we owned more than 25% of its voting

securities and would be an “affiliate” of a portfolio company if we owned 5% or more of its voting securities.

(2)Fair value is determined in good faith by the Board of Directors of the Fund.

(3)Cost value reflects accretion of original issue discount or market discount. Investments on non-accrual status are not accruing original

issue discount or market discount.

(4)Represents an investment in a warehouse facility, which is a financing structure intended to aggregate loans that may be used to form the

basis of a CLO vehicle.

(5)Cost value reflects accretion of effective yield less any cash distributions received or entitled to be received from CLO equity investments.

(6)As of June 30, 2026, the investment includes interest income capitalized as additional investment principal (Payment-In-Kind interest or

“PIK”). The PIK interest rate for CLO debt positions represents the interest rate at payment date when PIK interest is received. Please

refer to “Note 2. Summary of Significant Accounting Policies — Payment-In-Kind” in Oxford Lane Capital Corp.’s most recently filed

Form N-CSR for the year ended March 31, 2026.

(7)The CLO subordinated notes, preferred shares, preference shares, and income notes are considered equity positions in the CLO vehicle.

Equity investments are entitled to recurring distributions which are generally equal to the remaining cash flow of the payments made by

the CLO’s securities less contractual payments to debt holders and fund expenses. The estimated yield indicated is based upon a current

projection of the amount and timing of these recurring distributions and the estimated amount of repayment of principal upon termination.

Such projections are periodically reviewed and adjusted, and the estimated yield may not ultimately be realized.

(8)Fair value includes the Fund’s interest in subordinated fee notes, and represents discounted cash flows associated with fees earned from

those fee notes.

(9)Investment has not made its inaugural distribution for relevant period end. Please refer to “Note 2. Summary of Significant Accounting

Policies — Investment Income” in Oxford Lane Capital Corp.’s most recently filed Form N-CSR for the year ended March 31, 2026.

(10)The CLO equity investment was optionally redeemed. Expected value of residual distributions, once received, is anticipated to be

recognized as return of capital, pending any remaining amortized cost, and/or realized gain for any amounts received in excess of such

amortized cost. See “Note 2. Summary of Significant Accounting Policies — Securities Transactions” in Oxford Lane Capital Corp.’s most

recently filed Form N-CSR for the year ended March 31, 2026.

(11)Investment is co-invested with the Fund’s affiliates. See “Note 4. Related Party Transactions” in Oxford Lane Capital Corp.’s most recently

filed Form N-CSR for the year ended March 31, 2026.

(12)Represents cash equivalents held in a money market fund as of June 30, 2026.

(13)The fair value of the investment was determined using significant unobservable inputs. Please refer to “Note 3. Fair Value” in Oxford Lane

Capital Corp.’s most recently filed Form N-CSR for the year ended March 31, 2026.

(Continued on next page)

2

OXFORD LANE CAPITAL CORP.

SCHEDULE OF INVESTMENTS – (continued)

JUNE 30, 2026 (Unaudited)

(14)The Fund generally acquires its investments in transactions not subject to registration under the Securities Act of 1933, as amended (the

“Securities Act”). These investments are generally subject to restrictions as “restricted securities” (within the meaning of the Securities

Act). Unless otherwise noted, all securities were acquired in transactions not subject to registration under the Securities Act.

(15)Acquisition date represents the initial date of purchase.

(16)This investment has an unfunded commitment as of June 30, 2026. Please refer to “Note 10. Commitments and Contingencies” in Oxford

Lane Capital Corp.’s most recently filed Form N-CSR for the year ended March 31, 2026.

(17)The principal balance outstanding for this debt investment, in whole or in part, is indexed to the 90-day Secured Overnight Financing Rate

(“SOFR”).

(18)Cost value reflects amortized cost.

(19)As of June 30, 2026, the effective yield has been estimated to be 0%. The aggregate projected amount of future recurring distributions and

terminal principal payment is less than the amortized investment cost.

(20)As of June 30, 2026, this investment is on non-accrual status.