StepStone Private Credit Income Fund
Consolidated Schedule of Investments
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments - 120.2% of NAV | |||||||||||||||||||||||||||||
| Senior Secured Loans - 93.2% of NAV | 1,2,3,4 | ||||||||||||||||||||||||||||
| Europe - 2.0% of NAV | |||||||||||||||||||||||||||||
| Clarion Events Holdings Inc. | First Lien Term Loan | 8.74 | % | 6M SOFR | 5.00 | % | 12/2/2032 | $ | 3,811,387 | $ | 3,773,417 | $ | 3,766,962 | 5,6,18 | |||||||||||||||
| Kee Safety LLC | First Lien Term Loan | 8.38 | % | 1M SOFR | 4.75 | % | 3/31/2032 | 5,651,038 | 5,594,995 | 5,577,781 | 5,6,18 | ||||||||||||||||||
| Quad UK Midco 2 Limited | First Lien Term Loan | 9.45 | % | 6M SOFR | 6.00 | % | 9/12/2026 | 1,072,727 | 1,070,055 | 1,071,601 | 5,6,18 | ||||||||||||||||||
| Quad UK Midco 2 Limited | First Lien Term Loan | 9.45 | % | 6M SOFR | 5.25 | % | 9/12/2026 | 2,927,273 | 2,919,969 | 2,924,200 | 5,6,18 | ||||||||||||||||||
| SERB Pharmaceuticals | First Lien Term Loan | 8.77 | % | 3M SOFR | 5.00 | % | 8/13/2032 | 7,771,383 | 7,674,914 | 7,665,535 | 5,6,18 | ||||||||||||||||||
| Total Direct Lending - Senior Secured Loans - Europe | $ | 21,033,350 | $ | 21,006,079 | |||||||||||||||||||||||||
| North America - 90.9% of NAV | |||||||||||||||||||||||||||||
| AAH Topco, LLC | Delayed Draw | 8.77 | % | 1M SOFR | 5.00 | % | 12/22/2027 | $ | 3,150,247 | $ | 1,447,789 | $ | 1,444,469 | 5,6,8,10 | |||||||||||||||
| ABC Technologies Inc. | First Lien Term Loan | 11.94 | % | 3M SOFR | 8.25 | % | 8/22/2031 | 2,153,840 | 2,079,129 | 2,075,752 | 5,6,10,18 | ||||||||||||||||||
| Accordion Partners LLC | First Lien Term Loan | 8.68 | % | 3M SOFR | 5.00 | % | 11/17/2031 | 2,048,109 | 2,043,176 | 2,038,971 | 5,6,10,18 | ||||||||||||||||||
| ACP Avenu Buyer, LLC | First Lien Term Loan | 8.66 | % | 3M SOFR | 5.00 | % | 10/2/2029 | 291,710 | 289,311 | 287,441 | 5,6,11,18 | ||||||||||||||||||
| ACP Avenu Buyer, LLC | First Lien Term Loan | 8.66 | % | 3M SOFR | 5.00 | % | 10/2/2029 | 370,974 | 367,656 | 364,898 | 5,6,11,18 | ||||||||||||||||||
| ACP Avenu Buyer, LLC | Revolver | 0.50 | % | 3M SOFR | 10/2/2029 | 87,096 | (688 | ) | (1,272 | ) | 5,6,7,8,11 | ||||||||||||||||||
| ACP Avenu Buyer, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 10/2/2029 | 248,846 | (985 | ) | (2,382 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| ACP Oak Buyer, Inc. | Delayed Draw | 8.53 | % | 6M SOFR | 4.75 | % | 5/16/2031 | 1,404,930 | 1,398,497 | 1,395,393 | 5,6,11 | ||||||||||||||||||
| ACP Oak Buyer, Inc. | Delayed Draw | 8.50 | % | 6M SOFR | 4.75 | % | 5/16/2031 | 1,405,634 | 1,399,187 | 1,396,092 | 5,6,11 | ||||||||||||||||||
| ACP Oak Buyer, Inc. | First Lien Term Loan | 8.35 | % | 3M SOFR | 4.75 | % | 5/16/2031 | 5,871,127 | 5,844,792 | 5,831,274 | 5,6,11,18 | ||||||||||||||||||
| ACP Oak Buyer, Inc. | Revolver | 0.50 | % | 3M SOFR | 5/16/2031 | 1,267,606 | (5,505 | ) | (8,604 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Advanced Medical Management, LLC | First Lien Term Loan | 9.82 | % | 3M SOFR | 6.00 | % | 6/18/2028 | 7,831,112 | 7,748,902 | 7,737,771 | 5,6,11,18 | ||||||||||||||||||
| Advanced Medical Management, LLC | Revolver | 9.77 | % | 3M SOFR | 6.00 | % | 6/18/2028 | 789,586 | 519,479 | 518,144 | 5,6,8,11 | ||||||||||||||||||
| AKAM Buyer, Inc. | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 2/27/2032 | 703,732 | 693,283 | 696,623 | 5,6,10 | ||||||||||||||||||
| AKAM Buyer, Inc. | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 2/27/2032 | 703,732 | 693,283 | 696,623 | 5,6,10 | ||||||||||||||||||
| AKAM Buyer, Inc. | Revolver | 0.50 | % | 3M SOFR | 2/27/2032 | 290,762 | (4,297 | ) | (3,663 | ) | 5,6,7,8,10 | ||||||||||||||||||
| AKAM Buyer, Inc. | Delayed Draw | 0.50 | % | 3M SOFR | 2/27/2032 | 760,791 | (11,244 | ) | (9,585 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Alkeme Intermediary Holdings, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 5/28/2027 | 1,453,373 | 1,444,559 | 1,449,888 | 5,6,11 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Alkeme Intermediary Holdings, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 5/28/2027 | $ | 1,970,675 | $ | 1,957,543 | $ | 1,961,917 | 5,6,11,18 | |||||||||||||||
| Alkeme Intermediary Holdings, LLC | Revolver | 0.50 | % | 3M SOFR | 5/28/2027 | 30,404 | (99 | ) | (116 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Alkeme Intermediary Holdings, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 5/28/2027 | 505,790 | 427,262 | 427,214 | 5,6,8,11 | ||||||||||||||||||
| Allworth Financial Group, L.P. | Revolver | 0.50 | % | 3M SOFR | 12/23/2027 | 176,678 | (482 | ) | (341 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Allworth Financial Group, L.P. | Delayed Draw | 8.42 | % | 1M SOFR | 4.75 | % | 12/23/2027 | 3,803,568 | 2,560,167 | 2,568,936 | 5,6,8,11 | ||||||||||||||||||
| Ambient Enterprises Holdco LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 6/28/2030 | 934,514 | 922,926 | 921,850 | 5,6,11,18 | ||||||||||||||||||
| Ambient Enterprises Holdco LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 6/28/2030 | 517,820 | 510,089 | 509,052 | 5,6,11,18 | ||||||||||||||||||
| Ambient Enterprises Holdco LLC | Delayed Draw | 0.75 | % | 3M SOFR | 6/28/2030 | 867,371 | (11,871 | ) | (14,692 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Ambient Enterprises Holdco LLC | Delayed Draw | 8.95 | % | 3M SOFR | 5.25 | % | 6/28/2030 | 1,599,146 | 1,111,661 | 1,108,233 | 5,6,8,11 | ||||||||||||||||||
| Amercareroyal, LLC | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 9/10/2030 | 2,569,879 | 2,544,623 | 2,548,171 | 5,6,11,18 | ||||||||||||||||||
| Amercareroyal, LLC | Delayed Draw | 8.67 | % | 1M SOFR | 5.00 | % | 9/10/2030 | 409,277 | 405,987 | 408,021 | 5,6,11,18 | ||||||||||||||||||
| Amercareroyal, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 9/10/2030 | 597,590 | — | (6 | ) | 5,6,7,8,11,25 | |||||||||||||||||||
| Amercareroyal, LLC | Revolver | 8.67 | % | 1M SOFR | 5.00 | % | 9/10/2030 | 385,542 | 232,867 | 232,888 | 5,6,8,11 | ||||||||||||||||||
| American Family Care, LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 2/28/2029 | 2,002,266 | 1,992,323 | 1,991,662 | 5,6,11,18 | ||||||||||||||||||
| American Family Care, LLC | Revolver | 0.50 | % | 3M SOFR | 2/28/2029 | 451,631 | (1,898 | ) | (2,392 | ) | 5,6,7,8,11 | ||||||||||||||||||
| American Family Care, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 2/28/2029 | 1,505,436 | (6,334 | ) | (7,973 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| AmeriLife Holdings LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 8/31/2029 | 5,295,618 | 5,269,470 | 5,271,154 | 5,6,10,18 | ||||||||||||||||||
| AmeriLife Holdings LLC | Delayed Draw | 1.00 | % | 3M SOFR | 8/31/2029 | 1,787,698 | (3,409 | ) | 4,425 | 5,6,7,8,10,25 | |||||||||||||||||||
| AmeriLife Holdings LLC | Revolver | 8.67 | % | 3M SOFR | 5.00 | % | 8/31/2028 | 885,797 | 144,517 | 147,614 | 5,6,8,10 | ||||||||||||||||||
| AMP Purchaser, LLC | Term Loan | 6.00 | % | 3M SOFR | 6.00 | % | 4/1/2033 | 3,542,857 | 3,525,143 | 3,525,143 | 5,6,18 | ||||||||||||||||||
| AMP Purchaser, LLC | Revolver | 0.50 | % | 3M SOFR | 4/1/2033 | 457,143 | (2,286 | ) | (2,286 | ) | 5,6,7,8 | ||||||||||||||||||
| Amplify Buyer, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 9/17/2032 | 3,990,000 | 3,971,070 | 3,964,177 | 5,6,10,18 | ||||||||||||||||||
| Any Hour LLC | Revolver | 9.45 | % | 3M SOFR | 5.75 | % | 5/23/2030 | 348,574 | 313,998 | 310,996 | 5,6,8,9 | ||||||||||||||||||
| Any Hour LLC | Delayed Draw | 9.45 | % | 3M SOFR | 5.75 | % | 5/23/2030 | 692,129 | 62,632 | 58,474 | 5,6,8,9 | ||||||||||||||||||
| Any Hour LLC | First Lien Term Loan | 9.42 | % | 3M SOFR | 5.75 | % | 5/23/2030 | 2,354,213 | 2,327,790 | 2,308,633 | 5,6,9,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Apex Service Partners, LLC | Delayed Draw | 8.67 | % | 3M SOFR | 5.00 | % | 10/24/2030 | $ | 4,606,807 | $ | 4,565,915 | $ | 4,584,654 | 5,6,11 | |||||||||||||||
| Apex Service Partners, LLC | Delayed Draw | 8.68 | % | 3M SOFR | 5.00 | % | 10/24/2030 | 2,144,398 | 2,126,794 | 2,136,623 | 5,6,11,18 | ||||||||||||||||||
| Apex Service Partners, LLC | Delayed Draw | 8.67 | % | 3M SOFR | 5.00 | % | 10/24/2030 | 288,945 | 286,606 | 286,429 | 5,6,11,18 | ||||||||||||||||||
| Apex Service Partners, LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 10/24/2030 | 1,214,006 | 1,204,179 | 1,203,434 | 5,6,11,18 | ||||||||||||||||||
| Apex Service Partners, LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 10/24/2030 | 1,566,059 | 1,552,260 | 1,550,629 | 5,6,11,18 | ||||||||||||||||||
| Apex Service Partners, LLC | Revolver | 8.69 | % | 3M SOFR | 5.00 | % | 10/24/2029 | 96,927 | 43,779 | 43,647 | 5,6,8,11 | ||||||||||||||||||
| Aprio Advisory Group, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 8/1/2031 | 286,557 | (2,730 | ) | (3,389 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Aprio Advisory Group, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 8/1/2031 | 3,688,525 | (35,127 | ) | (43,623 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Aprio Advisory Group, LLC | Revolver | 8.42 | % | 1M SOFR | 4.75 | % | 8/1/2031 | 24,918 | 11,391 | 11,334 | 5,6,8,10 | ||||||||||||||||||
| Aptean, Inc. | First Lien Term Loan | 8.42 | % | 3M SOFR | 4.75 | % | 1/30/2031 | 7,159,171 | 7,129,327 | 7,152,339 | 5,6,10 | ||||||||||||||||||
| Aptean, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 1/30/2031 | 2,292,261 | (4,672 | ) | (20,938 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Aptean, Inc. | Revolver | 8.68 | % | 3M SOFR | 4.62 | % | 1/30/2031 | 285,408 | 64,071 | 61,915 | 5,6,8,10 | ||||||||||||||||||
| Aptive Environmental, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 10/15/2032 | 3,534,884 | 3,499,731 | 3,494,166 | 5,6,10,18 | ||||||||||||||||||
| Aptive Environmental, LLC | Revolver | 0.50 | % | 3M SOFR | 10/15/2032 | 310,078 | (2,901 | ) | (3,572 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Aptive Environmental, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 10/15/2032 | 155,039 | (1,452 | ) | (1,786 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Archer Lewis, LLC | Revolver | 9.45 | % | 3M SOFR | 5.75 | % | 8/28/2029 | 35,211 | 34,838 | 31,906 | 5,6,11 | ||||||||||||||||||
| Archer Lewis, LLC | First Lien Term Loan | 9.45 | % | 3M SOFR | 5.75 | % | 8/28/2029 | 1,231,116 | 1,215,806 | 1,115,246 | 5,6,11,18 | ||||||||||||||||||
| Archer Lewis, LLC | Delayed Draw | 9.45 | % | 3M SOFR | 5.75 | % | 8/28/2029 | 17,357 | 17,172 | 15,723 | 5,6,11,18 | ||||||||||||||||||
| Archer Lewis, LLC | Delayed Draw | 9.42 | % | 3M SOFR | 5.75 | % | 8/28/2029 | 17,539 | 6,325 | 4,887 | 5,6,8,11 | ||||||||||||||||||
| Arcline Liberty Buyer LLC | First Lien Term Loan | 8.41 | % | 3M SOFR | 4.75 | % | 12/1/2032 | 2,709,677 | 2,709,677 | 2,678,521 | 5,6,10,18 | ||||||||||||||||||
| Arcline Liberty Buyer LLC | Revolver | 0.50 | % | 3M SOFR | 12/1/2032 | 516,129 | — | (5,935 | ) | 5,6,7,8,10 | |||||||||||||||||||
| Arcline Liberty Buyer LLC | Delayed Draw | 0.50 | % | 3M SOFR | 12/1/2032 | 774,194 | — | (8,902 | ) | 5,6,7,8,10,25 | |||||||||||||||||||
| Arctic Holdco, LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 1/31/2032 | 1,754,059 | 1,740,925 | 1,730,989 | 5,6,11,18 | ||||||||||||||||||
| Arctic Holdco, LLC | Delayed Draw | 8.93 | % | 3M SOFR | 5.25 | % | 1/31/2032 | 200,597 | 142,691 | 142,449 | 5,6,8,11 | ||||||||||||||||||
| Arctic Holdco, LLC | Revolver | 8.95 | % | 3M SOFR | 5.25 | % | 1/31/2031 | 134,565 | 43,329 | 42,637 | 5,6,8,11 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Argano LLC | First Lien Term Loan | 9.18 | % | 1M SOFR | 5.50 | % | 9/13/2029 | $ | 688,696 | $ | 680,552 | $ | 672,633 | 5,6,11 | |||||||||||||||
| Argano LLC | Delayed Draw | 9.17 | % | 1M SOFR | 5.50 | % | 9/13/2029 | 5,979,340 | 5,902,850 | 5,916,467 | 5,6,11 | ||||||||||||||||||
| Argano LLC | First Lien Term Loan | 9.18 | % | 1M SOFR | 5.50 | % | 9/13/2029 | 5,095,747 | 5,039,608 | 4,976,896 | 5,6,11,18 | ||||||||||||||||||
| Argano LLC | Revolver | 0.50 | % | 3M SOFR | 9/13/2029 | 166,836 | (1,736 | ) | (3,881 | ) | 5,6,7,8,11 | ||||||||||||||||||
| ASP Global Holdings, LLC | Revolver | 8.92 | % | 3M SOFR | 5.25 | % | 7/31/2029 | 258,412 | 256,610 | 254,770 | 5,6,11 | ||||||||||||||||||
| ASP Global Holdings, LLC | First Lien Term Loan | 8.92 | % | 3M SOFR | 5.25 | % | 7/31/2029 | 2,049,012 | 2,034,208 | 2,020,284 | 5,6,11,18 | ||||||||||||||||||
| ASP Global Holdings, LLC | Delayed Draw | 8.92 | % | 3M SOFR | 5.25 | % | 7/31/2029 | 852,148 | 599,798 | 593,848 | 5,6,8,11 | ||||||||||||||||||
| Assembled Intelligence LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 5/3/2029 | 519,685 | 515,808 | 515,072 | 5,6,11,18 | ||||||||||||||||||
| Atlantic Pipe Services, LLC | First Lien Term Loan | 8.20 | % | 6M SOFR | 4.50 | % | 12/1/2031 | 1,731,198 | 1,709,596 | 1,706,563 | 5,6,11,18 | ||||||||||||||||||
| Atlantic Pipe Services, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 12/1/2031 | 991,736 | (11,733 | ) | (14,077 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Autism Learning Partners Holdings | First Lien Term Loan | 8.75 | % | 3M SOFR | 5.00 | % | 8/16/2027 | 1,800,686 | 1,794,541 | 1,781,160 | 5,6,11,19 | ||||||||||||||||||
| Aviation Technical Services, Inc. | First Lien Term Loan | 9.42 | % | 3M SOFR | 5.75 | % | 7/12/2029 | 1,313,333 | 1,306,200 | 1,301,778 | 5,6,11,18 | ||||||||||||||||||
| Aviation Technical Services, Inc. | Revolver | 0.50 | % | 3M SOFR | 7/12/2029 | 166,667 | (849 | ) | (1,466 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Avita Care Solutions | First Lien Term Loan | 8.91 | % | 3M SOFR | 5.25 | % | 8/6/2030 | 1,095,593 | 1,083,064 | 1,079,366 | 5,6,11,18 | ||||||||||||||||||
| Avita Care Solutions | Revolver | 0.50 | % | 3M SOFR | 8/6/2030 | 98,901 | 2,186 | 1,834 | 5,6,8,11 | ||||||||||||||||||||
| Axis Portable Air, LLC | Delayed Draw | 8.71 | % | 3M SOFR | 5.00 | % | 12/31/2030 | 1,047,273 | 1,039,949 | 1,038,038 | 5,6,11 | ||||||||||||||||||
| Axis Portable Air, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 3/22/2028 | 522,327 | 518,416 | 518,461 | 5,6,11,18 | ||||||||||||||||||
| Axis Portable Air, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 3/22/2028 | 394,320 | 392,874 | 392,229 | 5,6,11 | ||||||||||||||||||
| Axis Portable Air, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 3/22/2028 | 1,277,479 | 1,271,867 | 1,272,131 | 5,6,11,18 | ||||||||||||||||||
| Axis Portable Air, LLC | Revolver | 0.50 | % | 3M SOFR | 3/22/2028 | 737,087 | (4,027 | ) | (3,078 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Axxiom Elevator LLC | First Lien Term Loan | 8.35 | % | 6M SOFR | 4.75 | % | 10/19/2029 | 1,663,803 | 1,666,459 | 1,661,448 | 5,6,11,19 | ||||||||||||||||||
| Badge 21 Midco Holdings LLC | First Lien Term Loan | 8.20 | % | 3M SOFR | 4.50 | % | 6/30/2032 | 5,959,047 | 5,905,258 | 5,899,347 | 5,6,11,18 | ||||||||||||||||||
| Badge 21 Midco Holdings LLC | Delayed Draw | 1.00 | % | 3M SOFR | 6/30/2032 | 1,098,200 | (9,844 | ) | (11,002 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Badge 21 Midco Holdings LLC | Revolver | 10.25 | % | 3M PRIME | 3.50 | % | 6/30/2032 | 694,752 | 80,621 | 79,884 | 5,6,8,11 | ||||||||||||||||||
| Barricade Holdings LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 9/30/2030 | 1,677,175 | 1,668,932 | 1,659,658 | 5,6,11,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Barricade Holdings LLC | Delayed Draw | 1.00 | % | 3M SOFR | 9/30/2030 | $ | 1,765,448 | $ | (8,654 | ) | $ | (9,622 | ) | 5,6,7,8,11,25 | |||||||||||||||
| BBMA Buyer LLC | Delayed Draw | 9.35 | % | 6M SOFR | 5.75 | % | 1/2/2030 | 4,143,953 | 1,281,411 | 1,188,034 | 5,6,8,11 | ||||||||||||||||||
| BC Group Holdings, Inc. | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 12/21/2026 | 4,952,067 | 3,621,132 | 3,620,087 | 5,6,8,10 | ||||||||||||||||||
| BCI Burke Holding Corp. | First Lien Term Loan | 9.45 | % | 3M SOFR | 5.75 | % | 12/14/2027 | 2,794,739 | 2,767,094 | 2,777,950 | 5,6,11,18 | ||||||||||||||||||
| BCI Burke Holding Corp. | Delayed Draw | 1.00 | % | 3M SOFR | 12/14/2027 | 838,634 | (4,536 | ) | (5,024 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Beacon Oral Specialists Management LLC | Delayed Draw | 8.16 | % | 3M SOFR | 5.50 | % | 12/14/2026 | 1,010,633 | 208,470 | 207,101 | 5,6,8,11 | ||||||||||||||||||
| Berlin Rosen Acquisition, LLC | Revolver | 9.27 | % | 1M SOFR | 5.50 | % | 1/14/2027 | 576,465 | 573,826 | 573,798 | 5,6,11 | ||||||||||||||||||
| Berlin Rosen Acquisition, LLC | First Lien Term Loan | 9.27 | % | 1M SOFR | 5.50 | % | 1/14/2027 | 1,152,012 | 1,146,590 | 1,146,683 | 5,6,11,18 | ||||||||||||||||||
| Berlin Rosen Acquisition, LLC | First Lien Term Loan | 9.27 | % | 1M SOFR | 5.50 | % | 1/14/2027 | 2,223,085 | 2,212,828 | 2,212,802 | 5,6,11,18 | ||||||||||||||||||
| Big Top Holdings, LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 3/1/2030 | 800,278 | 788,353 | 785,861 | 5,6,11,18 | ||||||||||||||||||
| Big Top Holdings, LLC | Revolver | 0.50 | % | 3M SOFR | 3/1/2030 | 25,000 | (347 | ) | (449 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Blue Matter Consulting LLC | First Lien Term Loan | 8.27 | % | 1M SOFR | 4.50 | % | 5/24/2027 | 4,887,783 | 4,868,256 | 4,864,138 | 5,6,11,19 | ||||||||||||||||||
| Blue River Petcare, LLC | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 8/1/2029 | 396,612 | 396,612 | 396,155 | 5,6,18 | ||||||||||||||||||
| Blue River Petcare, LLC | Delayed Draw | 1.00 | % | 6M SOFR | 8/1/2029 | 3,049,035 | (14,672 | ) | (18,777 | ) | 5,6,7,8,25 | ||||||||||||||||||
| Blue River Petcare, LLC | Revolver | 8.67 | % | 1M SOFR | 5.00 | % | 8/1/2029 | 554,353 | 52,769 | 52,021 | 5,6,8 | ||||||||||||||||||
| Bond Management Partners, LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 1/23/2028 | 3,990,000 | 3,951,149 | 3,949,789 | 5,6,11,19 | ||||||||||||||||||
| BridgePointe Technologies, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 12/31/2027 | 5,081,973 | 5,042,385 | 5,026,597 | 5,6,11 | ||||||||||||||||||
| BridgePointe Technologies, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 12/31/2027 | 5,081,973 | 975,209 | 962,746 | 5,6,8,11 | ||||||||||||||||||
| Brightmore Brands LLC | First Lien Term Loan | 9.07 | % | 3M SOFR | 5.38 | % | 9/10/2029 | 3,330,028 | 3,292,050 | 3,280,103 | 5,6,13,18 | ||||||||||||||||||
| Bristol Hospice, LLC | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 8/26/2032 | 3,642,439 | 3,624,346 | 3,620,568 | 5,6,10,18 | ||||||||||||||||||
| Bristol Hospice, LLC | Revolver | 0.50 | % | 3M SOFR | 8/26/2032 | 348,432 | (1,597 | ) | (2,092 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Campany Roofing Maintenance, LLC | Delayed Draw | 10.77 | % | 1M SOFR | 7.00 | % | 11/27/2028 | 1,402,572 | 1,387,723 | 1,289,869 | 5,6,13,18 | ||||||||||||||||||
| CVAUSA Management, LLC | First Lien Term Loan | 8.92 | % | 1M SOFR | 5.25 | % | 5/22/2029 | 822,169 | 807,974 | 818,060 | 5,6,11 | ||||||||||||||||||
| CVAUSA Management, LLC | First Lien Term Loan | 8.92 | % | 1M SOFR | 5.25 | % | 5/22/2029 | 1,598,427 | 1,588,483 | 1,590,438 | 5,6,11,18 | ||||||||||||||||||
| CVAUSA Management, LLC | Revolver | 0.50 | % | 3M SOFR | 5/22/2028 | 190,340 | (610 | ) | (715 | ) | 5,6,7,8,11 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| CVAUSA Management, LLC | Delayed Draw | 8.93 | % | 1M SOFR | 5.25 | % | 2/1/2027 | $ | 5,851,336 | $ | 1,486,346 | $ | 1,440,195 | 5,6,8,11 | |||||||||||||||
| Carnegie Dartlet, LLC | Delayed Draw | 9.17 | % | 1M SOFR | 5.50 | % | 2/7/2030 | 13,860 | 13,815 | 13,762 | 5,6,11 | ||||||||||||||||||
| Carnegie Dartlet, LLC | First Lien Term Loan | 9.17 | % | 1M SOFR | 5.50 | % | 2/7/2030 | 166,502 | 164,676 | 163,626 | 5,6,11,18 | ||||||||||||||||||
| Carnegie Dartlet, LLC | Revolver | 0.50 | % | 3M SOFR | 2/7/2030 | 20,000 | (152 | ) | (345 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Case Works, LLC | First Lien Term Loan | 8.92 | % | 3M SOFR | 5.25 | % | 10/1/2029 | 1,975,000 | 1,955,307 | 1,952,312 | 5,6,11,18 | ||||||||||||||||||
| Case Works, LLC | Delayed Draw | 8.97 | % | 3M SOFR | 5.25 | % | 10/1/2029 | 29,124 | 28,862 | 28,789 | 5,6,11,18 | ||||||||||||||||||
| Case Works, LLC | Revolver | 8.92 | % | 3M SOFR | 5.25 | % | 10/1/2029 | 29,412 | 21,943 | 21,869 | 5,6,8,11 | ||||||||||||||||||
| Catalyst Acoustic Group, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 11/12/2030 | 2,718,244 | 2,707,828 | 2,690,305 | 5,6,11,19 | ||||||||||||||||||
| Catalyst Acoustic Group, Inc. | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 11/12/2030 | 2,210,889 | 1,106,735 | 1,099,333 | 5,6,8,11 | ||||||||||||||||||
| CCMG Buyer LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 5/8/2030 | 1,879,103 | 1,865,787 | 1,855,486 | 5,6,11,19 | ||||||||||||||||||
| Centex Acquisition, LLC | First Lien Term Loan | 9.27 | % | 3M SOFR | 5.50 | % | 5/9/2029 | 2,906,365 | 2,868,140 | 2,859,258 | 5,6,11,18 | ||||||||||||||||||
| Centex Acquisition, LLC | Revolver | 9.27 | % | 1M SOFR | 5.50 | % | 5/9/2029 | 1,079,030 | 902,726 | 899,285 | 5,6,8,11 | ||||||||||||||||||
| Cerity Partners Equity Holding LLC | First Lien Term Loan | 8.20 | % | 3M SOFR | 4.50 | % | 7/28/2031 | 4,725,773 | 4,711,960 | 4,716,025 | 5,6,10 | ||||||||||||||||||
| Cerity Partners Equity Holding LLC | Delayed Draw | 1.00 | % | 3M SOFR | 7/30/2029 | 67,705 | (507 | ) | (3,964 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Cerity Partners Equity Holding LLC | Revolver | 8.17 | % | 1M SOFR | 4.50 | % | 7/28/2031 | 410,256 | 163,376 | 163,993 | 5,6,8,10 | ||||||||||||||||||
| Cherry Bekaert Advisory LLC | Delayed Draw | 8.17 | % | 1M SOFR | 4.50 | % | 6/28/2030 | 250,696 | 250,125 | 250,081 | 5,6,10 | ||||||||||||||||||
| Cherry Bekaert Advisory LLC | First Lien Term Loan | 8.17 | % | 1M SOFR | 4.50 | % | 6/28/2030 | 250,696 | 250,073 | 250,081 | 5,6,10,18 | ||||||||||||||||||
| Cherry Bekaert Advisory LLC | First Lien Term Loan | 8.17 | % | 1M SOFR | 4.50 | % | 6/28/2030 | 2,235,284 | 2,229,714 | 2,230,046 | 5,6,10,18 | ||||||||||||||||||
| Choice Financial Group, LLC | Delayed Draw | 6.28 | % | 1M SOFR | 3.84 | % | 10/15/2027 | 4,000,000 | 1,198,572 | 1,194,992 | 5,6,8,11 | ||||||||||||||||||
| Chronicle Parent LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 4/15/2031 | 6,984,259 | 6,938,172 | 6,935,200 | 5,6,11,18 | ||||||||||||||||||
| Chronicle Parent LLC | Revolver | 0.50 | % | 3M SOFR | 4/15/2031 | 740,741 | (4,694 | ) | (5,190 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Chronicle Parent LLC | Delayed Draw | 8.67 | % | 3M SOFR | 5.00 | % | 4/15/2031 | 2,222,222 | 295,169 | 296,126 | 5,6,8,11 | ||||||||||||||||||
| Clarest Health, LLC (FKA ProCare LTC Parent, LLC) | First Lien Term Loan | 9.27 | % | 3M SOFR | 5.50 | % | 12/20/2027 | 5,041,434 | 5,027,044 | 4,910,655 | 5,6,11,19 | ||||||||||||||||||
| Clinical Research (ITC) Buyer, Inc. | Delayed Draw | 8.92 | % | 3M SOFR | 5.25 | % | 5/17/2030 | 1,339,875 | 1,329,846 | 1,325,624 | 5,6,11 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| CMG Holding Co, LLC | Delayed Draw | 8.42 | % | 3M SOFR | 4.75 | % | 11/26/2030 | $ | 1,824,240 | $ | 1,813,758 | $ | 1,819,964 | 5,6,11 | |||||||||||||||
| CMG Holding Co, LLC | First Lien Term Loan | 8.42 | % | 3M SOFR | 4.75 | % | 11/26/2030 | 1,833,407 | 1,825,887 | 1,822,615 | 5,6,11,18 | ||||||||||||||||||
| CMG Holding Co, LLC | Revolver | 0.50 | % | 3M SOFR | 11/26/2030 | 275,011 | 325 | (645 | ) | 5,6,7,8,11 | |||||||||||||||||||
| Combined Wellness Acquisition Co | Delayed Draw | 9.18 | % | 3M SOFR | 5.25 | % | 12/31/2027 | 4,946,500 | 4,714,333 | 4,697,799 | 5,6,8,11 | ||||||||||||||||||
| Commercial Cleaning Systems, LLC | First Lien Term Loan | 8.43 | % | 1M SOFR | 4.75 | % | 2/12/2030 | 4,000,000 | 3,970,564 | 3,964,934 | 5,6,10,19 | ||||||||||||||||||
| Compass Koons Gas LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 5/1/2030 | 2,695,577 | 2,699,879 | 2,690,683 | 5,6,10,19 | ||||||||||||||||||
| Computer Services, Inc. | First Lien Term Loan | 8.20 | % | 3M SOFR | 4.50 | % | 11/17/2031 | 392,162 | 391,996 | 387,257 | 5,6,18 | ||||||||||||||||||
| Computer Services, Inc. | Delayed Draw | 0.50 | % | 3M SOFR | 11/17/2031 | 29,196 | — | (219 | ) | 5,6,7,8,11,25 | |||||||||||||||||||
| Computer Services, Inc. | Delayed Draw | 0.50 | % | 3M SOFR | 11/17/2031 | 15,959 | (75 | ) | (200 | ) | 5,6,7,8,25 | ||||||||||||||||||
| Consolidated Equipment Group, LLC | First Lien Term Loan | 8.77 | % | 1M SOFR | 5.00 | % | 8/12/2027 | 1,639,169 | 1,635,901 | 1,631,766 | 5,6,14,19 | ||||||||||||||||||
| Cooper's Hawk Intermediate Holding, LLC | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 7/29/2031 | 336,000 | 331,361 | 330,796 | 5,6,10 | ||||||||||||||||||
| Cooper's Hawk Intermediate Holding, LLC | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 7/29/2031 | 3,066,000 | 3,023,845 | 3,014,566 | 5,6,10,18 | ||||||||||||||||||
| Cooper's Hawk Intermediate Holding, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 7/29/2031 | 294,737 | (4,183 | ) | (5,385 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Cooper's Hawk Intermediate Holding, LLC | Revolver | 0.50 | % | 3M SOFR | 7/29/2031 | 294,737 | 206,558 | 205,581 | 5,6,8,10 | ||||||||||||||||||||
| Cornerstone Advisors of Arizona, LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 5/13/2032 | 3,559,823 | 3,543,851 | 3,540,889 | 5,6,11,18 | ||||||||||||||||||
| Cornerstone Advisors of Arizona, LLC | Revolver | 0.38 | % | 3M SOFR | 5/13/2032 | 447,214 | (1,958 | ) | (2,379 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Creative Multicare LLC | Delayed Draw | 8.92 | % | 3M SOFR | 5.25 | % | 3/27/2030 | 3,203,008 | 744,728 | 742,499 | 5,6,8,11 | ||||||||||||||||||
| CRH Healthcare Purchaser, Inc. | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 9/17/2031 | 3,019,310 | 2,989,217 | 2,982,578 | 5,6,11,18 | ||||||||||||||||||
| CRH Healthcare Purchaser, Inc. | Revolver | 0.50 | % | 3M SOFR | 9/17/2031 | 275,862 | (2,514 | ) | (3,348 | ) | 5,6,7,8,11 | ||||||||||||||||||
| CRH Healthcare Purchaser, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 9/17/2031 | 689,655 | (6,295 | ) | (8,369 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| CSG Buyer, Inc. | First Lien Term Loan | 9.92 | % | 3M SOFR | 6.25 | % | 7/29/2029 | 2,326,974 | 2,305,859 | 2,296,151 | 5,6,11,18 | ||||||||||||||||||
| CSG Buyer, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 7/29/2029 | 473,684 | (795 | ) | (8,707 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| CSG Buyer, Inc. | Revolver | 9.94 | % | 3M SOFR | 6.25 | % | 7/29/2029 | 157,895 | 29,459 | 27,062 | 5,6,8,11 | ||||||||||||||||||
| CT Technologies Intermediate Holdings | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 9/2/2031 | 2,280,456 | 2,274,794 | 2,269,912 | 5,6,10,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| CT Technologies Intermediate Holdings | Delayed Draw | — | % | 6M SOFR | 9/2/2031 | $ | 156,693 | $ | — | $ | (722 | ) | 5,6,7,8,10,25 | ||||||||||||||||
| CUB Financing Intermediate, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 6/28/2030 | 4,000,000 | (37,601 | ) | (43,785 | ) | 5,6,7,8,9,25 | ||||||||||||||||||
| Curio Brands Intermediate, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 4/2/2031 | 7,978,922 | 7,925,346 | 7,917,783 | 5,6,10,18 | ||||||||||||||||||
| Curio Brands Intermediate, LLC | Revolver | 0.50 | % | 3M SOFR | 4/2/2031 | 653,595 | (5,468 | ) | (5,008 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Curio Brands Intermediate, LLC | Delayed Draw | 0.50 | % | 3M SOFR | 4/2/2031 | 1,307,190 | (5,465 | ) | (3,403 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Currier Plastics, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 9/19/2031 | 1,030,785 | 1,023,067 | 1,024,635 | 5,6,11,18 | ||||||||||||||||||
| Currier Plastics, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 9/19/2031 | 955,089 | 947,938 | 949,390 | 5,6,11,18 | ||||||||||||||||||
| Currier Plastics, LLC | Delayed Draw | 8.42 | % | 1M SOFR | 4.75 | % | 9/19/2031 | 908,117 | 901,435 | 902,699 | 5,6,11,18 | ||||||||||||||||||
| Currier Plastics, LLC | Revolver | 0.50 | % | 1M SOFR | 9/19/2031 | 313,929 | (2,300 | ) | (1,873 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Currier Plastics, LLC | Delayed Draw | 1.00 | % | 1M SOFR | 9/19/2031 | 784,822 | (5,750 | ) | (4,683 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Danforth Global, Inc. | Delayed Draw | 9.16 | % | 3M SOFR | 5.50 | % | 12/9/2027 | 2,976,633 | 2,943,163 | 2,966,092 | 5,6,11 | ||||||||||||||||||
| Danforth Global, Inc. | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 12/9/2027 | 2,122,069 | 2,105,082 | 2,103,190 | 5,6,11,18 | ||||||||||||||||||
| Danforth Global, Inc. | Delayed Draw | 9.17 | % | 3M SOFR | 5.50 | % | 12/9/2027 | 177,882 | 176,386 | 177,390 | 5,6,11,18 | ||||||||||||||||||
| Danforth Global, Inc. | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 12/9/2027 | 1,477,500 | 1,459,045 | 1,464,178 | 5,6,11,18 | ||||||||||||||||||
| Danforth Global, Inc. | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 12/9/2027 | 1,484,577 | 1,484,577 | 1,469,323 | 5,6,11,18 | ||||||||||||||||||
| Danforth Global, Inc. | Delayed Draw | 9.17 | % | 3M SOFR | 5.50 | % | 12/9/2027 | 158,200 | 156,916 | 158,198 | 5,6,11,18 | ||||||||||||||||||
| Danforth Global, Inc. | Revolver | 9.17 | % | 1M SOFR | 5.50 | % | 12/9/2027 | 747,898 | 142,018 | 141,895 | 5,6,8,11 | ||||||||||||||||||
| DCCM MergerSub, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 6/24/2032 | 5,828,422 | 5,770,663 | 5,768,000 | 5,6,10,18 | ||||||||||||||||||
| DCCM MergerSub, LLC | Revolver | 0.50 | % | 3M SOFR | 6/24/2032 | 1,145,847 | (10,224 | ) | (11,879 | ) | 5,6,7,8,10 | ||||||||||||||||||
| DCCM MergerSub, LLC | Delayed Draw | 0.75 | % | 3M SOFR | 6/24/2032 | 2,864,617 | (27,112 | ) | (29,697 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Dealer Services Network, LLC | First Lien Term Loan | 8.91 | % | 3M SOFR | 5.25 | % | 2/9/2027 | 2,891,435 | 2,880,250 | 2,873,307 | 5,6,11,18 | ||||||||||||||||||
| Dealer Services Network, LLC | First Lien Term Loan | 8.91 | % | 3M SOFR | 5.25 | % | 2/9/2027 | 309,337 | 306,260 | 306,396 | 5,6,11,18 | ||||||||||||||||||
| DecisionPoint Technologies Buyer, Inc. | First Lien Term Loan | 9.42 | % | 3M SOFR | 5.75 | % | 8/31/2029 | 68,350 | 67,594 | 67,836 | 5,6,11 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| DecisionPoint Technologies Buyer, Inc. | Delayed Draw | 9.46 | % | 3M SOFR | 5.75 | % | 8/31/2029 | $ | 154,645 | $ | 152,937 | $ | 153,481 | 5,6,11 | |||||||||||||||
| Denali Intermediate Holdings | First Lien Term Loan | 9.18 | % | 1M SOFR | 5.50 | % | 8/26/2032 | 6,557,363 | 6,495,982 | 6,491,838 | 5,6,18 | ||||||||||||||||||
| Denali Intermediate Holdings | Revolver | 0.50 | % | 3M SOFR | 8/26/2032 | 657,380 | (6,025 | ) | (6,569 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Denali Topco, LLC | First Lien Term Loan | 8.42 | % | 3M SOFR | 4.75 | % | 8/26/2032 | 2,779,918 | 2,779,918 | 2,758,262 | 5,6,10 | ||||||||||||||||||
| Denali Topco, LLC | Revolver | 0.50 | % | 3M SOFR | 8/26/2032 | 393,443 | — | (3,074 | ) | 5,6,7,8,10 | |||||||||||||||||||
| Denali Topco, LLC | Delayed Draw | 0.75 | % | 3M SOFR | 8/26/2032 | 819,672 | — | (6,405 | ) | 5,6,7,8,10,25 | |||||||||||||||||||
| Dentive, LLC | First Lien Term Loan | 6.70% / 4.25 | % | 3M SOFR | 7.25 | % | 12/22/2028 | 1,563,065 | 1,550,181 | 1,535,451 | 5,10,18 | ||||||||||||||||||
| Dentive, LLC | Delayed Draw | 6.70% / 4.25 | % | 3M SOFR | 7.25 | % | 12/22/2028 | 776,515 | 770,118 | 762,797 | 5,10,18 | ||||||||||||||||||
| Dentive, LLC | Revolver | 10.92 | % | 3M SOFR | 7.25 | % | 12/22/2028 | 122,357 | 3,616 | 2,388 | 5,6,8,10 | ||||||||||||||||||
| DermCare Holdings, LLC | Revolver | 9.77 | % | 1M SOFR | 6.00 | % | 4/21/2028 | 420,875 | 420,875 | 420,658 | 5,6,11 | ||||||||||||||||||
| DermCare Holdings, LLC | First Lien Term Loan | 9.77 | % | 1M SOFR | 6.00 | % | 4/21/2028 | 3,781,162 | 3,781,162 | 3,779,217 | 5,6,11,18 | ||||||||||||||||||
| DermCare Holdings, LLC | Delayed Draw | 9.77 | % | 1M SOFR | 6.00 | % | 4/21/2028 | 808,727 | 808,727 | 808,310 | 5,6,11,18 | ||||||||||||||||||
| DermCare Holdings, LLC | Delayed Draw | 9.77 | % | 1M SOFR | 6.00 | % | 4/21/2028 | 1,887,810 | 1,887,810 | 1,886,839 | 5,6,11,18 | ||||||||||||||||||
| Designs for Health, Inc. | First Lien Term Loan | 8.17 | % | 3M SOFR | 4.50 | % | 10/16/2030 | 3,157,895 | 3,127,719 | 3,125,657 | 5,6,10,18 | ||||||||||||||||||
| Designs for Health, Inc. | Revolver | 0.50 | % | 3M SOFR | 10/16/2030 | 842,105 | (7,694 | ) | (8,597 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Digicert, Inc. | First Lien Term Loan | 9.42 | % | 1M SOFR | 5.75 | % | 7/10/2030 | 3,712,099 | 3,656,800 | 3,627,101 | 5,6,10,18 | ||||||||||||||||||
| Digicert, Inc. | Revolver | 0.50 | % | 3M SOFR | 7/10/2030 | 269,247 | (3,499 | ) | (6,165 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Discovery SL Management, LLC | Revolver | 0.50 | % | 3M SOFR | 3/18/2030 | 33,427 | (231 | ) | (316 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Discovery SL Management, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 3/18/2030 | 267,412 | (1,849 | ) | (2,532 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Distinct Holdings, Inc. | First Lien Term Loan | 9.45 | % | 3M SOFR | 5.75 | % | 7/18/2029 | 1,800,686 | 1,775,533 | 1,637,357 | 5,6,11,19 | ||||||||||||||||||
| Diversis Tempo Holdco, LLC | First Lien Term Loan | 9.95 | % | 3M SOFR | 6.25 | % | 8/22/2031 | 3,836,877 | 3,790,152 | 3,760,799 | 5,6,10,18 | ||||||||||||||||||
| Diverzify Intermediate LLC | First Lien Term Loan | 9.68 | % | 3M SOFR | 5.75 | % | 5/11/2027 | 934,305 | 931,096 | 930,026 | 5,6,11,19 | ||||||||||||||||||
| Diverzify Intermediate LLC | First Lien Term Loan | 9.66 | % | 3M SOFR | 5.75 | % | 5/11/2027 | 732,436 | 729,920 | 729,077 | 5,6,11,19 | ||||||||||||||||||
| Diverzify Intermediate LLC | Delayed Draw | 6.00 | % | 1M SOFR | 6.00 | % | 3/23/2033 | 53,478 | 53,478 | 53,478 | 5,6,19 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Duke's Root Control, Inc. | First Lien Term Loan | 9.47 | % | 3M SOFR | 5.50 | % | 12/10/2029 | $ | 2,390,636 | $ | 2,376,080 | $ | 2,364,547 | 5,6,11,18 | |||||||||||||||
| Duke's Root Control, Inc. | First Lien Term Loan | 9.31 | % | 3M SOFR | 5.50 | % | 12/10/2029 | 829,708 | 824,653 | 820,663 | 5,6,11,18 | ||||||||||||||||||
| Duke's Root Control, Inc. | Revolver | 1.00 | % | 3M SOFR | 12/8/2028 | 276,448 | (1,623 | ) | (3,013 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Durare Bidco, LLC | Revolver | 0.50 | % | 3M SOFR | 8/9/2032 | 727,273 | (3,307 | ) | (9,407 | ) | 5,6,7,8,9 | ||||||||||||||||||
| Durare Bidco, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 8/9/2032 | 1,515,152 | (6,900 | ) | (19,597 | ) | 5,6,7,8,9,25 | ||||||||||||||||||
| Durare Bidco, LLC | First Lien Term Loan | 8.41 | % | 3M SOFR | 4.75 | % | 8/9/2032 | 5,757,576 | 5,729,016 | 5,683,107 | 5,6,9,18 | ||||||||||||||||||
| Dwyer Instruments, LLC | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 7/20/2029 | 757,342 | 757,342 | 757,342 | 5,6 | ||||||||||||||||||
| Dwyer Instruments, LLC | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 7/20/2029 | 72,259 | 72,259 | 72,259 | 5,6,10 | ||||||||||||||||||
| Dwyer Instruments, LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 7/20/2029 | 576,582 | 576,582 | 576,582 | 5,6,10,18 | ||||||||||||||||||
| Dwyer Instruments, LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 7/21/2027 | 1,429,691 | 1,429,691 | 1,429,691 | 5,6,18 | ||||||||||||||||||
| Dwyer Instruments, LLC | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 7/21/2027 | 239,982 | 239,982 | 239,982 | 5,6,18 | ||||||||||||||||||
| Dwyer Instruments, LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 7/20/2029 | 646,367 | 646,367 | 646,367 | 5,6,18 | ||||||||||||||||||
| Dwyer Instruments, LLC | Revolver | 8.45 | % | 3M SOFR | 4.75 | % | 7/20/2029 | 268,237 | 119,285 | 119,285 | 5,6,8,10 | ||||||||||||||||||
| EdgeCo Buyer, Inc. | First Lien Term Loan | 8.20 | % | 3M SOFR | 4.50 | % | 6/1/2028 | 1,206,620 | 1,206,620 | 1,206,592 | 5,6,11,18 | ||||||||||||||||||
| EdgeCo Buyer, Inc. | Delayed Draw | 8.20 | % | 3M SOFR | 4.50 | % | 6/1/2028 | 154,064 | 154,064 | 154,061 | 5,6,11,18 | ||||||||||||||||||
| EdgeCo Buyer, Inc. | Delayed Draw | 8.20 | % | 3M SOFR | 4.50 | % | 6/1/2028 | 3,541,339 | 3,515,678 | 3,529,362 | 5,6,8,11 | ||||||||||||||||||
| EdgeCo Buyer, Inc. | Revolver | 10.25 | % | 3M PRIME | 3.50 | % | 6/1/2028 | 355,196 | 35,520 | 35,388 | 5,6,8,11 | ||||||||||||||||||
| Einstein Parent, Inc. | First Lien Term Loan | 8.92 | % | 3M SOFR | 5.25 | % | 1/22/2031 | 5,265,185 | 5,176,136 | 5,118,008 | 5,6,10,18 | ||||||||||||||||||
| Einstein Parent, Inc. | Revolver | 0.50 | % | 3M SOFR | 1/22/2031 | 544,674 | (8,775 | ) | (15,225 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Elder Care Opco LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 7/31/2030 | 1,577,226 | 1,564,908 | 1,560,300 | 5,6,13,18 | ||||||||||||||||||
| Elder Care Opco LLC | Revolver | 0.50 | % | 3M SOFR | 7/31/2030 | 295,547 | (2,247 | ) | (3,164 | ) | 5,6,7,8,13 | ||||||||||||||||||
| Elder Care Opco LLC | Delayed Draw | 0.75 | % | 3M SOFR | 7/31/2030 | 985,158 | (8,056 | ) | (10,545 | ) | 5,6,7,8,13,25 | ||||||||||||||||||
| Eliassen Group, LLC | Delayed Draw | 9.45 | % | 3M SOFR | 5.75 | % | 4/14/2028 | 66,585 | 65,003 | 66,218 | 5,6,10 | ||||||||||||||||||
| Eliassen Group, LLC | First Lien Term Loan | 9.45 | % | 3M SOFR | 5.75 | % | 4/14/2028 | 925,054 | 897,787 | 898,068 | 5,6,10,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Emergency Care Partners, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 10/18/2027 | $ | 434,512 | $ | 432,022 | $ | 431,194 | 5,6,11,18 | |||||||||||||||
| Emergency Care Partners, LLC | Revolver | 0.50 | % | 3M SOFR | 10/18/2027 | 24,590 | (161 | ) | (188 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Emergency Care Partners, LLC | Delayed Draw | 8.67 | % | 3M SOFR | 5.00 | % | 10/18/2027 | 24,553 | 7,222 | 7,153 | 5,6,8,11 | ||||||||||||||||||
| Empower Payments Investor, LLC | Delayed Draw | 8.15 | % | 3M SOFR | 4.50 | % | 3/12/2031 | 920,769 | 912,254 | 904,410 | 5,6,10 | ||||||||||||||||||
| Empower Payments Investor, LLC | First Lien Term Loan | 8.20 | % | 3M SOFR | 4.50 | % | 3/12/2031 | 3,061,538 | 3,031,094 | 3,007,281 | 5,6,10,18 | ||||||||||||||||||
| Ems Acquisition Corp. | First Lien Term Loan | 10.27 | % | 1M SOFR | 6.50 | % | 6/30/2027 | 952,897 | 954,418 | 952,890 | 5,6,11,19 | ||||||||||||||||||
| Engineering Resource Group Buyer, LLC | First Lien Term Loan | 9.67 | % | 3M SOFR | 6.00 | % | 10/27/2030 | 88,231 | 86,909 | 86,778 | 5,6,13 | ||||||||||||||||||
| Engineering Resource Group Buyer, LLC | Revolver | 0.50 | % | 3M SOFR | 10/27/2030 | 29,484 | (411 | ) | (492 | ) | 5,6,7,8,13 | ||||||||||||||||||
| Engineering Resource Group Buyer, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 10/27/2030 | 58,968 | 18,341 | 18,181 | 5,6,8,13,25 | ||||||||||||||||||||
| Epika Fleet Services, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 4/17/2031 | 1,518,665 | 1,504,976 | 1,513,553 | 5,6,10 | ||||||||||||||||||
| Epika Fleet Services, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 4/17/2031 | 5,163,461 | 5,125,133 | 5,144,270 | 5,6,10,18 | ||||||||||||||||||
| Epika Fleet Services, LLC | Delayed Draw | 8.67 | % | 3M SOFR | 5.00 | % | 4/17/2031 | 1,366,799 | 1,350,422 | 1,361,718 | 5,6,10,18 | ||||||||||||||||||
| Equinox Buyer, LLC | First Lien Term Loan | 8.92 | % | 1M SOFR | 5.25 | % | 7/28/2031 | 2,262,415 | 2,239,876 | 2,236,740 | 5,6,11,18 | ||||||||||||||||||
| Equinox Buyer, LLC | Revolver | 0.50 | % | 3M SOFR | 7/28/2031 | 305,444 | (2,770 | ) | (3,458 | ) | 5,6,7,8,11 | ||||||||||||||||||
| ES Ventures LLC | First Lien Term Loan | 8.41 | % | 1M SOFR | 4.75 | % | 12/13/2028 | 166,183 | 165,771 | 164,614 | 5,6,11,18 | ||||||||||||||||||
| ES Ventures LLC | First Lien Term Loan | 8.41 | % | 1M SOFR | 4.75 | % | 12/13/2028 | 145,478 | 145,137 | 144,105 | 5,6,11,18 | ||||||||||||||||||
| ESCP DTFS Inc | First Lien Term Loan | 9.20 | % | 3M SOFR | 5.50 | % | 9/28/2029 | 3,940,000 | 3,917,773 | 3,906,976 | 5,6,11,18 | ||||||||||||||||||
| EvAl Home Health Solutions Intermediate, LLC | First Lien Term Loan | 9.42 | % | 1M SOFR | 5.75 | % | 5/10/2030 | 496,920 | 491,202 | 457,866 | 5,6,11,18 | ||||||||||||||||||
| EvAl Home Health Solutions Intermediate, LLC | Revolver | 0.50 | % | 3M SOFR | 5/10/2030 | 20,000 | (215 | ) | (1,568 | ) | 5,6,7,8,11 | ||||||||||||||||||
| EVDR Purchaser, Inc. | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 2/14/2031 | 872,904 | 868,563 | 868,260 | 5,6,10,18 | ||||||||||||||||||
| Everbridge Holdings, LLC | First Lien Term Loan | 8.66 | % | 3M SOFR | 5.00 | % | 7/2/2031 | 2,447,165 | 2,439,752 | 2,437,017 | 5,6,10,18 | ||||||||||||||||||
| Everbridge Holdings, LLC | Revolver | 0.38 | % | 6M SOFR | 7/2/2031 | 437,312 | (698 | ) | (1,813 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Everbridge Holdings, LLC | Delayed Draw | 8.66 | % | 3M SOFR | 5.00 | % | 7/2/2031 | 1,087,923 | 422,310 | 418,697 | 5,6,8,10 | ||||||||||||||||||
| Everest Clinical Research Corporation | First Lien Term Loan | 8.32 | % | 3M SOFR | 4.50 | % | 11/6/2026 | 3,011,894 | 3,004,305 | 2,999,705 | 5,6,11,19 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Evergreen Services Group II | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 6/15/2029 | $ | 4,274,970 | $ | 4,232,677 | $ | 4,196,563 | 5,6,10,18 | |||||||||||||||
| Evergreen Services Group II | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 6/15/2029 | 5,496,635 | 4,447,196 | 4,414,962 | 5,6,8,10 | ||||||||||||||||||
| Examinetics Holdings Inc. | First Lien Term Loan | 8.17 | % | 1M SOFR | 4.50 | % | 8/11/2029 | 104,219 | 104,385 | 104,031 | 5,6,11,19 | ||||||||||||||||||
| First Legal Buyer, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 7/1/2031 | 1,672,284 | 1,662,121 | 1,663,277 | 5,6,11,18 | ||||||||||||||||||
| First Legal Buyer, Inc. | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 7/1/2031 | 617,553 | 363,183 | 364,584 | 5,6,8,11 | ||||||||||||||||||
| First Legal Buyer, Inc. | Revolver | 8.42 | % | 3M SOFR | 4.75 | % | 7/1/2031 | 310,231 | 60,275 | 60,375 | 5,6,8,11 | ||||||||||||||||||
| Flatiron Crane Operating Company, LLC | First Lien Term Loan | 8.78 | % | 1M SOFR | 5.00 | % | 12/17/2027 | 1,637,513 | 1,637,185 | 1,635,659 | 5,6,11,19 | ||||||||||||||||||
| Force Electrical Buyerco, LLC | First Lien Term Loan | 8.17 | % | 3M SOFR | 4.50 | % | 10/21/2032 | 1,152,389 | 1,140,928 | 1,144,484 | 5,6,10,18 | ||||||||||||||||||
| Force Electrical Buyerco, LLC | Delayed Draw | 8.15 | % | 3M SOFR | 4.50 | % | 10/21/2032 | 1,964,299 | 130,838 | 135,812 | 5,6,8,10 | ||||||||||||||||||
| Force Electrical Buyerco, LLC | Revolver | 8.21 | % | 3M SOFR | 4.50 | % | 10/21/2032 | 392,860 | 153,442 | 154,449 | 5,6,8,10 | ||||||||||||||||||
| Fullsteam Operations LLC | First Lien Term Loan | 8.89 | % | 3M SOFR | 5.25 | % | 8/8/2031 | 2,769,231 | 2,744,652 | 2,733,650 | 5,6,10,18 | ||||||||||||||||||
| Fullsteam Operations LLC | Revolver | 0.50 | % | 3M SOFR | 8/8/2031 | 307,692 | (2,689 | ) | (3,953 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Fullsteam Operations LLC | Delayed Draw | 1.00 | % | 3M SOFR | 8/8/2031 | 923,077 | (8,319 | ) | (11,860 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Gastronome Acquisition, LLC | First Lien Term Loan | 8.85 | % | 3M SOFR | 5.00 | % | 6/18/2029 | 2,068,166 | 2,057,530 | 2,068,110 | 5,6,11,19 | ||||||||||||||||||
| Gator Plastic Intermediate Holdings, LLC | First Lien Term Loan | 10.92 | % | 1M SOFR | 7.25 | % | 10/14/2027 | 2,213,655 | 2,169,708 | 2,181,811 | 5,6,13,18 | ||||||||||||||||||
| Gator Plastic Intermediate Holdings, LLC | Revolver | 10.92 | % | 1M SOFR | 7.25 | % | 10/14/2027 | 400,662 | 156,773 | 156,120 | 5,6,8,13 | ||||||||||||||||||
| GC Waves Holdings, Inc. | Delayed Draw | 8.17 | % | 1M SOFR | 4.50 | % | 10/4/2030 | 634,557 | 201,656 | 202,823 | 5,6,8,10 | ||||||||||||||||||
| GC Waves Holdings, Inc. | Delayed Draw | 8.17 | % | 1M SOFR | 4.50 | % | 10/4/2030 | 1,042,863 | 1,042,863 | 1,042,302 | 5,6,10,18 | ||||||||||||||||||
| GC Waves Holdings, Inc. | First Lien Term Loan | 8.17 | % | 1M SOFR | 4.50 | % | 10/4/2030 | 1,659,973 | 1,659,973 | 1,659,072 | 5,6,10,18 | ||||||||||||||||||
| GC Waves Holdings, Inc. | Revolver | 0.50 | % | 3M SOFR | 10/4/2030 | 90,016 | — | (49 | ) | 5,6,7,8,10 | |||||||||||||||||||
| GMF Parent, Inc. | First Lien Term Loan | 8.19 | % | 3M SOFR | 4.50 | % | 12/20/2032 | 1,775,000 | 1,757,314 | 1,756,436 | 5,6,10,18 | ||||||||||||||||||
| GMF Parent, Inc. | Delayed Draw | 0.50 | % | 3M SOFR | 12/20/2032 | 500,000 | (4,802 | ) | (5,229 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| GMF Parent, Inc. | Delayed Draw | 0.50 | % | 3M SOFR | 12/20/2032 | 450,000 | (4,322 | ) | (4,706 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| GMF Parent, Inc. | Revolver | 8.19 | % | 3M SOFR | 4.50 | % | 12/20/2032 | 275,000 | 7,359 | 7,124 | 5,6,8,10 | ||||||||||||||||||
| Gold Medal Holdings, Inc. | First Lien Term Loan | 9.45 | % | 3M SOFR | 5.75 | % | 3/17/2027 | 1,590,541 | 1,590,541 | 1,590,541 | 5,6,11,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Gold Medal Holdings, Inc. | Delayed Draw | 9.45 | % | 3M SOFR | 5.75 | % | 3/17/2027 | $ | 379,911 | $ | 131,180 | $ | 131,180 | 5,6,8,11 | |||||||||||||||
| Golden State Dermatology Management, LLC | Delayed Draw | 9.27 | % | 1M SOFR | 5.50 | % | 9/28/2029 | 5,393,393 | 3,287,492 | 3,277,498 | 5,6,8,11 | ||||||||||||||||||
| Graymar Acquisition LLC | Delayed Draw | 8.41 | % | 3M SOFR | 4.75 | % | 9/13/2030 | 1,525,730 | 1,366,543 | 1,371,384 | 5,6,8,11 | ||||||||||||||||||
| Greenwood Operating Group, LLC | First Lien Term Loan | 9.17 | % | 1M SOFR | 5.50 | % | 5/7/2031 | 5,300,278 | 5,204,811 | 5,208,830 | 5,6,11,18 | ||||||||||||||||||
| Greenwood Operating Group, LLC | Revolver | 0.50 | % | 3M SOFR | 5/7/2031 | 1,068,062 | (18,223 | ) | (18,428 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Gridhawk LLC | First Lien Term Loan | 9.10 | % | 3M SOFR | 5.50 | % | 5/7/2030 | 1,597,488 | 1,590,335 | 1,588,344 | 5,6,11,19 | ||||||||||||||||||
| GS Acquisitionco, Inc. | Delayed Draw | 0.50 | % | 3M SOFR | 5/25/2028 | 350,698 | (624 | ) | (2,294 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Guava Buyer LLC | First Lien Term Loan | 9.14 | % | 3M SOFR | 5.50 | % | 8/12/2032 | 3,219,490 | 3,155,374 | 3,124,633 | 5,6,11,18 | ||||||||||||||||||
| Guava Buyer LLC | Revolver | 0.50 | % | 3M SOFR | 8/12/2030 | 382,166 | (6,756 | ) | (11,232 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Guava Buyer LLC | Delayed Draw | 9.16 | % | 3M SOFR | 5.50 | % | 8/12/2032 | 380,904 | 159,680 | 155,685 | 5,6,8,11 | ||||||||||||||||||
| Halo Buyer, Inc. | First Lien Term Loan | 9.67 | % | 1M SOFR | 6.00 | % | 8/7/2029 | 6,387,809 | 6,278,626 | 6,244,386 | 5,6,11,18 | ||||||||||||||||||
| Halo Buyer, Inc. | Revolver | 9.84 | % | 1M SOFR | 5.92 | % | 8/7/2029 | 967,850 | 283,588 | 276,690 | 5,6,8,11 | ||||||||||||||||||
| Harris & Co. LLC | Delayed Draw | 8.67 | % | 1M SOFR | 5.00 | % | 8/9/2030 | 16,921 | 16,744 | 16,738 | 5,6,11 | ||||||||||||||||||
| Harris & Co. LLC | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 8/9/2030 | 1,647,223 | 1,630,850 | 1,629,437 | 5,6,11,18 | ||||||||||||||||||
| Harris & Co. LLC | Delayed Draw | 8.67 | % | 1M SOFR | 5.00 | % | 8/9/2030 | 17,360 | 17,206 | 17,172 | 5,6,11,18 | ||||||||||||||||||
| Harris & Co. LLC | Revolver | 8.67 | % | 1M SOFR | 5.00 | % | 8/9/2030 | 226,637 | 134,283 | 133,541 | 5,6,8,11 | ||||||||||||||||||
| Harris & Co. LLC | Delayed Draw | 8.67 | % | 1M SOFR | 5.00 | % | 8/9/2030 | 2,071,030 | 1,282,771 | 1,279,393 | 5,6,8,11 | ||||||||||||||||||
| Heads Up Technologies, Inc. | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 7/23/2030 | 6,331,818 | 6,302,820 | 6,290,329 | 5,6,11,18 | ||||||||||||||||||
| Heads Up Technologies, Inc. | Revolver | 0.50 | % | 3M SOFR | 7/23/2030 | 636,364 | (2,750 | ) | (4,159 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Health Buyer LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 4/29/2030 | 1,251,523 | 1,246,551 | 1,244,389 | 5,6,10,18 | ||||||||||||||||||
| Health Buyer LLC | Revolver | 8.42 | % | 1M SOFR | 4.75 | % | 4/29/2030 | 183,824 | 137,868 | 137,663 | 5,6,8,10 | ||||||||||||||||||
| Health Management Associates, Inc. | First Lien Term Loan | 9.01 | % | 3M SOFR | 5.25 | % | 3/30/2029 | 525,227 | 520,811 | 517,691 | 5,6,11,19 | ||||||||||||||||||
| Hec Purchaser Corp. | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 6/17/2029 | 3,562,952 | 3,528,369 | 3,507,454 | 5,6,11,18 | ||||||||||||||||||
| Hec Purchaser Corp. | Revolver | 0.50 | % | 3M SOFR | 6/17/2029 | 260,417 | (2,550 | ) | (4,056 | ) | 5,6,7,8,11 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Heritage Foodservice Investment, LLC | First Lien Term Loan | 9.26 | % | 3M SOFR | 5.50 | % | 8/1/2030 | $ | 1,539,373 | $ | 1,524,329 | $ | 1,530,845 | 5,6,11,18 | |||||||||||||||
| Heritage Foodservice Investment, LLC | Revolver | 9.26 | % | 3M SOFR | 5.50 | % | 8/1/2030 | 200,871 | 58,418 | 59,139 | 5,6,8,11 | ||||||||||||||||||
| Heritage Foodservice Investment, LLC | Delayed Draw | 9.27 | % | 3M SOFR | 5.50 | % | 8/1/2030 | 1,606,052 | 123,559 | 131,630 | 5,6,8,11 | ||||||||||||||||||
| HHS Buyer Inc. | Delayed Draw | 9.43 | % | 3M SOFR | 5.50 | % | 8/31/2028 | 5,380,348 | 5,324,241 | 5,316,443 | 5,6,11 | ||||||||||||||||||
| HHS Buyer Inc. | First Lien Term Loan | 9.43 | % | 3M SOFR | 5.50 | % | 8/31/2028 | 858,564 | 849,938 | 848,392 | 5,6,11,18 | ||||||||||||||||||
| HHS Buyer Inc. | Revolver | 0.50 | % | 3M SOFR | 8/31/2028 | 1,081,315 | (10,487 | ) | (12,811 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Hills Distribution, Inc. | First Lien Term Loan | 9.15 | % | 3M SOFR | 5.50 | % | 11/8/2029 | 87,710 | 87,273 | 87,145 | 5,6,11,18 | ||||||||||||||||||
| Hills Distribution, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 11/8/2029 | 212,733 | (978 | ) | (1,371 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| HLSG Intermediate, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 2/2/2033 | 2,363,592 | 2,351,798 | 2,350,024 | 5,6,10,18 | ||||||||||||||||||
| HLSG Intermediate, LLC | Revolver | 0.50 | % | 3M SOFR | 2/2/2033 | 308,295 | (1,507 | ) | (1,774 | ) | 5,6,7,8,10 | ||||||||||||||||||
| HLSG Intermediate, LLC | Delayed Draw | — | % | 1M SOFR | 2/2/2033 | 770,736 | (3,766 | ) | (4,424 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| IDC Infusion Services, Inc. | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 7/7/2028 | 2,073,429 | 2,062,087 | 2,051,222 | 5,6,11,19 | ||||||||||||||||||
| Ideal Components Acquisition, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 6/30/2032 | 5,229,051 | 5,181,773 | 5,180,199 | 5,6,10,18 | ||||||||||||||||||
| Ideal Components Acquisition, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 6/30/2032 | 965,264 | (9,152 | ) | (9,018 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Ideal Components Acquisition, LLC | Revolver | 8.67 | % | 1M SOFR | 5.00 | % | 6/30/2032 | 804,387 | 100,049 | 99,737 | 5,6,8,10 | ||||||||||||||||||
| IEQ Capital, LLC | First Lien Term Loan | 8.23 | % | 6M SOFR | 4.50 | % | 12/22/2028 | 1,459,159 | 1,459,159 | 1,457,884 | 5,6,10,18 | ||||||||||||||||||
| IEQ Capital, LLC | Delayed Draw | 8.31 | % | 3M SOFR | 4.50 | % | 12/22/2028 | 2,478,199 | 2,300,704 | 2,299,050 | 5,6,8,10,18 | ||||||||||||||||||
| IF&P Holding Company, LLC | Delayed Draw | — | % | 3M SOFR | 10/3/2028 | 2,131,126 | (3,871 | ) | — | 5,6,7,8,11,25 | |||||||||||||||||||
| IG Investments Holdings, LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 9/22/2028 | 2,540,136 | 2,514,784 | 2,514,734 | 5,6,10 | ||||||||||||||||||
| IG Investments Holdings, LLC | Revolver | 0.50 | % | 3M SOFR | 9/22/2028 | 280,236 | (2,778 | ) | (2,802 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Igloo Group Parent, Inc. | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 12/23/2031 | 3,975,000 | 3,915,529 | 3,883,525 | 5,6,11,18 | ||||||||||||||||||
| Improving Acquisition, LLC | First Lien Term Loan | 10.34 | % | 3M SOFR | 6.50 | % | 7/26/2027 | 9,127,693 | 9,040,021 | 9,033,066 | 5,6,11,18 | ||||||||||||||||||
| Improving Acquisition, LLC | Revolver | 10.30 | % | 3M SOFR | 6.50 | % | 7/26/2027 | 584,271 | 53,143 | 52,145 | 5,6,8,11 | ||||||||||||||||||
| Innovative Discovery, LLC | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 12/31/2030 | 3,316,364 | 3,283,157 | 3,278,998 | 5,6,11,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Innovative Discovery, LLC | Revolver | 0.50 | % | 1M SOFR | 12/31/2030 | $ | 155,844 | $ | (1,524 | ) | $ | (1,752 | ) | 5,6,7,8,11 | |||||||||||||||
| Innovative Discovery, LLC | Delayed Draw | 1.00 | % | 1M SOFR | 12/31/2030 | 519,481 | (5,079 | ) | (5,838 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Inszone Mid, LLC | Delayed Draw | 8.17 | % | 3M SOFR | 4.50 | % | 11/30/2029 | 307,313 | 16,968 | 16,276 | 5,6,8,11 | ||||||||||||||||||
| Integrated Power Services Holdings, Inc. | First Lien Term Loan | 8.53 | % | 1M SOFR | 4.75 | % | 11/22/2028 | 3,939,699 | 3,920,332 | 3,919,022 | 5,6,11,18 | ||||||||||||||||||
| Integrity Marketing Acquisition, LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 8/25/2028 | 3,940,012 | 3,938,226 | 3,933,697 | 5,6,10,18 | ||||||||||||||||||
| Intermed Inc. | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 4/3/2030 | 3,186,827 | 3,172,712 | 3,155,905 | 5,6,11,19 | ||||||||||||||||||
| Ivy Technology Parent Intermediate III Holdings, LLC | First Lien Term Loan | 9.04 | % | 1M SOFR | 5.38 | % | 2/5/2031 | 3,499,963 | 3,453,476 | 3,450,651 | 5,6,11,18 | ||||||||||||||||||
| Ivy Technology Parent Intermediate III Holdings, LLC | Revolver | 0.50 | % | 3M SOFR | 2/5/2031 | 453,246 | (5,798 | ) | (6,386 | ) | 5,6,7,8,11 | ||||||||||||||||||
| JS Global, LLC | First Lien Term Loan | 9.20 | % | 3M SOFR | 5.50 | % | 7/31/2030 | 120,774 | 118,879 | 118,449 | 5,6,11 | ||||||||||||||||||
| JS Global, LLC | Revolver | 9.16 | % | 3M SOFR | 5.50 | % | 7/31/2030 | 49,020 | 13,957 | 13,762 | 5,6,8,11 | ||||||||||||||||||
| KCM Environmental US Acquisition LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 6/17/2030 | 2,068,166 | 2,033,569 | 2,019,206 | 5,6,11,19 | ||||||||||||||||||
| Kelso Industries LLC | First Lien Term Loan | 9.42 | % | 1M SOFR | 5.75 | % | 12/30/2029 | 1,435,703 | 1,421,910 | 1,418,430 | 5,6,11 | ||||||||||||||||||
| Kelso Industries LLC | First Lien Term Loan | 9.42 | % | 1M SOFR | 5.75 | % | 12/30/2029 | 3,998,637 | 3,966,559 | 3,950,530 | 5,6,11,18 | ||||||||||||||||||
| Kept Companies, Inc. | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 4/30/2029 | 395,940 | 394,975 | 392,951 | 5,6,11,19 | ||||||||||||||||||
| Kept Companies, Inc. | Delayed Draw | 8.95 | % | 3M SOFR | 5.25 | % | 4/30/2029 | 1,303,855 | 884,950 | 880,706 | 5,6,8,11 | ||||||||||||||||||
| Kite Bidco Inc. | First Lien Term Loan | 8.23 | % | 6M SOFR | 4.50 | % | 11/19/2031 | 2,645,028 | 2,611,098 | 2,600,971 | 5,6,18 | ||||||||||||||||||
| Kite Bidco Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 11/19/2031 | 661,257 | (4,040 | ) | (6,008 | ) | 5,6,7,8,18,25 | ||||||||||||||||||
| KL Stockton Intermediate II, LLC | First Lien Term Loan | 0.0% / 13.0 | % | Fixed | 13.00 | % | 5/23/2031 | 748,922 | 739,347 | 730,994 | 9,20,23 | ||||||||||||||||||
| Lakewood Acquisition Corp. | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 1/24/2030 | 5,477,867 | 5,393,637 | 5,379,524 | 5,6,11,18 | ||||||||||||||||||
| Lakewood Acquisition Corp. | Revolver | 0.50 | % | 3M SOFR | 1/24/2030 | 1,509,054 | (21,808 | ) | (27,023 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Last Dance Intermediate I, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 3/31/2031 | 1,050,947 | (10,175 | ) | (12,727 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Lavie Group, Inc. | Delayed Draw | 8.62 | % | 6M SOFR | 5.00 | % | 10/10/2029 | 2,430,694 | 2,399,712 | 2,406,564 | 5,6,11 | ||||||||||||||||||
| LeadVenture Inc. | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 6/23/2032 | 6,782,337 | 6,736,538 | 6,693,584 | 5,6,10,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| LeadVenture Inc. | Delayed Draw | 8.65 | % | 3M SOFR | 4.95 | % | 6/23/2032 | $ | 1,296,223 | $ | 516,423 | $ | 511,927 | 5,6,8,10 | |||||||||||||||
| LeadVenture Inc. | Revolver | 8.42 | % | 3M SOFR | 4.75 | % | 6/23/2032 | 649,183 | 25,156 | 21,002 | 5,6,8,10 | ||||||||||||||||||
| Legend Buyer, Inc. | Delayed Draw | 9.30 | % | 3M SOFR | 5.50 | % | 1/19/2029 | 543,592 | 544,064 | 540,754 | 5,6,11 | ||||||||||||||||||
| Legend Buyer, Inc. | First Lien Term Loan | 9.30 | % | 3M SOFR | 5.50 | % | 1/19/2029 | 488,622 | 489,037 | 486,247 | 5,6,11,19 | ||||||||||||||||||
| Liberty Purchaser, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 11/22/2029 | 4,000,000 | (19,263 | ) | (26,328 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Lido Advisors, LLC | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 5/10/2032 | 93,430 | 92,603 | 92,946 | 5,6,11,18 | ||||||||||||||||||
| Lido Advisors, LLC | Revolver | 8.43 | % | 1M SOFR | 4.75 | % | 5/10/2032 | 109,549 | 53,818 | 53,654 | 5,6,8,11 | ||||||||||||||||||
| Lido Advisors, LLC | Delayed Draw | 8.41 | % | 3M SOFR | 4.75 | % | 5/10/2032 | 625,437 | 444,626 | 446,292 | 5,6,8,11 | ||||||||||||||||||
| Life Science Intermediate, Holdings, LLC | Delayed Draw | 9.77 | % | 1M SOFR | 6.00 | % | 6/10/2027 | 2,479,796 | 1,270,252 | 1,269,111 | 5,6,8,11 | ||||||||||||||||||
| Life Science Intermediate, Holdings, LLC | Revolver | 9.79 | % | 3M SOFR | 6.00 | % | 6/10/2027 | 475,539 | 220,151 | 219,908 | 5,6,8,11 | ||||||||||||||||||
| Lighthouse Technologies Holding Corp. | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 12/31/2029 | 3,947,507 | 3,947,434 | 3,902,248 | 5,6,11,18 | ||||||||||||||||||
| Lindstrom, LLC | First Lien Term Loan | 9.24 | % | 6M SOFR | 5.50 | % | 12/30/2032 | 3,485,531 | 3,434,576 | 3,429,149 | 5,6,10,18 | ||||||||||||||||||
| Lindstrom, LLC | Revolver | 9.24 | % | 6M SOFR | 5.50 | % | 12/30/2032 | 456,334 | 156,199 | 155,448 | 5,6,8,10 | ||||||||||||||||||
| LJ Avalon Holdings, LLC | Delayed Draw | 8.17 | % | 3M SOFR | 4.50 | % | 2/1/2030 | 3,322,083 | 3,291,697 | 3,282,743 | 5,6,11 | ||||||||||||||||||
| LJ Avalon Holdings, LLC | Revolver | 0.50 | % | 3M SOFR | 2/1/2029 | 666,667 | (5,463 | ) | (7,531 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Machine Sciences Corporation | Term Loan | — | % | 3M SOFR | 3/31/2032 | 1,714,286 | 1,695,429 | 1,695,442 | 5,6 | ||||||||||||||||||||
| Machine Sciences Corporation | Revolver | 0.50 | % | 3M SOFR | 3/31/2032 | 285,714 | (3,143 | ) | (3,141 | ) | 5,6,7,8 | ||||||||||||||||||
| Machine Sciences Corporation | Delayed Draw | 0.50 | % | 3M SOFR | 3/31/2032 | 2,000,000 | (22,000 | ) | (21,990 | ) | 5,6,7,8,25 | ||||||||||||||||||
| Management Consulting & Research, LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 8/16/2027 | 1,249,523 | 1,249,523 | 1,249,491 | 5,6,11,18 | ||||||||||||||||||
| Management Consulting & Research, LLC | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 8/16/2027 | 1,709,918 | 1,709,918 | 1,709,874 | 5,6,11,18 | ||||||||||||||||||
| Management Consulting & Research, LLC | Delayed Draw | 8.43 | % | 6M SOFR | 4.75 | % | 5/9/2031 | 31,797 | 31,797 | 31,797 | 5,6,11,18 | ||||||||||||||||||
| Management Consulting & Research, LLC | Revolver | 0.50 | % | 3M SOFR | 8/16/2027 | 1,379,780 | — | (35 | ) | 5,6,7,8,11 | |||||||||||||||||||
| Management Consulting & Research, LLC | Delayed Draw | 8.42 | % | 3M SOFR | 4.75 | % | 8/16/2027 | 814,766 | 648,374 | 647,877 | 5,6,8,11 | ||||||||||||||||||
| MB2 Dental Solutions, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 2/13/2031 | 302,144 | (2,987 | ) | (3,021 | ) | 5,6,7,8,25 | ||||||||||||||||||
| MDC Interior Acquisition, Inc. | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 4/26/2030 | 543,946 | 537,078 | 534,873 | 5,6,11,19 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Meca Solutions LLC | First Lien Term Loan | 8.85 | % | 3M SOFR | 5.00 | % | 5/22/2028 | $ | 1,128,761 | $ | 1,131,473 | $ | 1,128,585 | 5,6,11,19 | |||||||||||||||
| Mechanair LLC | First Lien Term Loan | 9.63 | % | 1M SOFR | 6.00 | % | 12/18/2031 | 2,310,000 | 2,298,483 | 2,295,673 | 5,6,11,18 | ||||||||||||||||||
| Mechanair LLC | Delayed Draw | 1.00 | % | 3M SOFR | 12/18/2031 | 1,263,158 | (6,024 | ) | (7,834 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Mechanair LLC | Revolver | 9.61 | % | 6M SOFR | 6.00 | % | 12/18/2031 | 421,053 | 259,174 | 258,583 | 5,6,8,11 | ||||||||||||||||||
| Med Learning Group, LLC | First Lien Term Loan | 9.45 | % | 3M SOFR | 5.75 | % | 12/30/2027 | 3,556,458 | 3,524,495 | 3,525,671 | 5,6,11,18 | ||||||||||||||||||
| Med Learning Group, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 12/30/2027 | 416,667 | (3,325 | ) | (2,637 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Medical Device Inc. | First Lien Term Loan | 8.68 | % | 3M SOFR | 5.00 | % | 7/11/2029 | 91,671 | 90,596 | 90,361 | 5,6,11 | ||||||||||||||||||
| Medical Device Inc. | First Lien Term Loan | 8.68 | % | 3M SOFR | 5.00 | % | 7/11/2029 | 495,868 | 490,053 | 488,780 | 5,6,11,18 | ||||||||||||||||||
| Medical Device Inc. | Revolver | 0.50 | % | 3M SOFR | 7/11/2029 | 195,846 | (2,252 | ) | (2,900 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Medina Health, LLC | Term Loan | 9.95 | % | 3M SOFR | 6.25 | % | 4/20/2030 | 161,955 | 160,943 | 160,944 | 5,6,11,18 | ||||||||||||||||||
| Medina Health, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 4/20/2030 | 170,479 | (533 | ) | (532 | ) | 5,6,7,8,25 | ||||||||||||||||||
| Medrina, LLC | First Lien Term Loan | 9.67 | % | 1M SOFR | 6.00 | % | 10/20/2029 | 2,520,000 | 2,482,261 | 2,476,851 | 5,6,11,18 | ||||||||||||||||||
| Medrina, LLC | Delayed Draw | 9.69 | % | 3M SOFR | 6.00 | % | 10/20/2029 | 1,473,032 | 240,535 | 235,241 | 5,6,8,11 | ||||||||||||||||||
| Michael Baker International, LLC | First Lien Term Loan | 8.20 | % | 3M SOFR | 4.50 | % | 12/1/2028 | 3,990,000 | 3,870,630 | 3,872,157 | 5,6,10,18 | ||||||||||||||||||
| Minds Buyer, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 5/3/2029 | 2,808,203 | 2,791,109 | 2,789,437 | 5,6,11,18 | ||||||||||||||||||
| Minds Buyer, LLC | Revolver | 0.50 | % | 3M SOFR | 5/3/2029 | 156,250 | (806 | ) | (1,044 | ) | 5,6,7,8,11 | ||||||||||||||||||
| MKD Electric, LLC | First Lien Term Loan | 10.17 | % | 3M SOFR | 6.50 | % | 5/31/2029 | 1,989,952 | 1,962,189 | 1,952,734 | 5,6,12,18 | ||||||||||||||||||
| MKD Electric, LLC | First Lien Term Loan | 10.17 | % | 3M SOFR | 6.50 | % | 5/31/2029 | 7,326,000 | 7,180,912 | 7,186,017 | 5,6,12,18 | ||||||||||||||||||
| MKD Electric, LLC | Revolver | 10.17 | % | 1M SOFR | 6.50 | % | 5/31/2029 | 479,846 | 399,616 | 397,049 | 5,6,8,12 | ||||||||||||||||||
| MoboTrex, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 6/7/2030 | 2,148,462 | 2,133,491 | 2,128,675 | 5,6,11,18 | ||||||||||||||||||
| MoboTrex, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 6/6/2031 | 1,435,303 | 227,317 | 224,135 | 5,6,8,11 | ||||||||||||||||||
| MoboTrex, LLC | Revolver | 8.70 | % | 3M SOFR | 5.00 | % | 6/7/2030 | 410,256 | 38,214 | 37,247 | 5,6,8,11 | ||||||||||||||||||
| Model N, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 5/13/2031 | 1,875,583 | 1,860,433 | 1,846,758 | 5,6,10,18 | ||||||||||||||||||
| Model N, Inc. | Revolver | 0.25 | % | 3M SOFR | 6/27/2031 | 207,254 | (1,565 | ) | (3,185 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Model N, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 6/27/2031 | 388,601 | (1,474 | ) | (3,993 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Monarch Collective Holdings, LLC | First Lien Term Loan | 8.68 | % | 3M SOFR | 5.00 | % | 3/17/2032 | $ | 956,284 | $ | 951,533 | $ | 951,503 | 5,6,11 | |||||||||||||||
| Monarch Collective Holdings, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 3/17/2032 | 637,523 | 659 | 638 | 5,6,8,11 | ||||||||||||||||||
| Monarch Collective Holdings, LLC | Revolver | 8.70 | % | 3M SOFR | 5.00 | % | 3/17/2032 | 127,505 | 24,868 | 24,863 | 5,6,8,11 | ||||||||||||||||||
| Moonlight Parent, Inc. | First Lien Term Loan | 8.42 | % | 3M SOFR | 4.75 | % | 9/9/2032 | 2,785,472 | 2,759,233 | 2,752,315 | 5,6,10,18 | ||||||||||||||||||
| Moonlight Parent, Inc. | Revolver | 0.50 | % | 3M SOFR | 9/9/2032 | 452,830 | (4,175 | ) | (5,390 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Moonlight Parent, Inc. | Delayed Draw | — | % | 3M SOFR | 9/9/2032 | 754,717 | (6,949 | ) | (8,984 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| MoreGroup Holdings, Inc. | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 1/16/2030 | 1,470,000 | 1,454,062 | 1,446,837 | 5,6,11,18 | ||||||||||||||||||
| MPS Newco LLC | First Lien Term Loan | 9.36 | % | 3M SOFR | 5.50 | % | 12/28/2029 | 1,184,886 | 1,177,995 | 1,166,034 | 5,6,11,19 | ||||||||||||||||||
| MPULSE Mobile, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 8/26/2032 | 3,222,692 | 3,198,689 | 3,191,929 | 5,6,10,18 | ||||||||||||||||||
| MPULSE Mobile, Inc. | Revolver | 0.50 | % | 3M SOFR | 8/26/2032 | 461,538 | (3,177 | ) | (925 | ) | 5,6,7,8,10 | ||||||||||||||||||
| MPULSE Mobile, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 8/26/2032 | 307,692 | (2,183 | ) | (617 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| MyTown Health Partners Buyer, Inc. | First Lien Term Loan | 8.38 | % | 6M SOFR | 4.75 | % | 1/28/2032 | 4,000,000 | 3,960,297 | 3,955,392 | 5,6,10,19 | ||||||||||||||||||
| National EC Services, Inc. | Revolver | 3.00 | % | 3M SOFR | 5/6/2030 | 342,012 | (3,205 | ) | (3,869 | ) | 5,6,7,8,10 | ||||||||||||||||||
| National EC Services, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 5/6/2031 | 1,710,058 | (16,212 | ) | (19,346 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Nautic Angels Acquisition LLC | Delayed Draw | 8.92 | % | 1M SOFR | 5.25 | % | 2/8/2030 | 1,813,784 | 1,802,578 | 1,797,619 | 5,6,11 | ||||||||||||||||||
| Nautic Angels Acquisition LLC | First Lien Term Loan | 8.92 | % | 1M SOFR | 5.25 | % | 2/8/2030 | 1,380,305 | 1,373,610 | 1,367,982 | 5,6,11,19 | ||||||||||||||||||
| NE Ortho Management Services, LLC | Revolver | 0.50 | % | 3M SOFR | 12/13/2030 | 235,294 | (2,243 | ) | (2,796 | ) | 5,6,7,8,11 | ||||||||||||||||||
| NE Ortho Management Services, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 12/13/2030 | 3,764,706 | 905,188 | 896,433 | 5,6,8,11 | ||||||||||||||||||
| New Charter Technologies, Inc. | Revolver | 0.50 | % | 1M SOFR | 10/17/2028 | 282,092 | (94 | ) | (2,389 | ) | 5,6,7,8,10 | ||||||||||||||||||
| New Charter Technologies, Inc. | Delayed Draw | 8.92 | % | 1M SOFR | 5.25 | % | 4/17/2030 | 4,225,201 | 2,025,252 | 2,005,982 | 5,6,8,10 | ||||||||||||||||||
| NMI Acquisitionco, Inc. | First Lien Term Loan | 8.27 | % | 1M SOFR | 4.50 | % | 9/6/2028 | 738,936 | 730,723 | 725,794 | 5,6,10,18 | ||||||||||||||||||
| NMI Acquisitionco, Inc. | Delayed Draw | 8.27 | % | 1M SOFR | 4.50 | % | 9/6/2028 | 379,899 | 375,676 | 373,142 | 5,6,10,18 | ||||||||||||||||||
| NMI Acquisitionco, Inc. | Revolver | 0.50 | % | 3M SOFR | 9/6/2028 | 110,767 | (1,145 | ) | (1,970 | ) | 5,6,7,8,10 | ||||||||||||||||||
| North Haven Spartan US Holdco LLC | First Lien Term Loan | 9.42 | % | 3M SOFR | 5.75 | % | 6/8/2026 | 646,250 | 646,250 | 646,183 | 5,6,11,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| NWP Acquisition Holdings, LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 11/21/2030 | $ | 139,960 | $ | 137,864 | $ | 137,731 | 5,6,11 | |||||||||||||||
| NWP Acquisition Holdings, LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 11/21/2030 | 34,990 | 34,466 | 34,433 | 5,6,11,18 | ||||||||||||||||||
| NWP Acquisition Holdings, LLC | Revolver | 0.50 | % | 3M SOFR | 11/21/2030 | 145,792 | (2,128 | ) | (2,322 | ) | 5,6,7,8,11 | ||||||||||||||||||
| NWP Acquisition Holdings, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 11/21/2030 | 728,958 | (10,644 | ) | (11,610 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Obra Capital, Inc. | First Lien Term Loan | 11.03 | % | 1M SOFR | 7.25 | % | 6/21/2029 | 2,468,750 | 2,433,578 | 2,423,613 | 5,6,11,18 | ||||||||||||||||||
| OMNIA Exterior Solutions LLC | Delayed Draw | 9.20 | % | 3M SOFR | 5.50 | % | 12/29/2029 | 4,298,438 | 4,305,298 | 4,286,605 | 5,6,11,19 | ||||||||||||||||||
| OPS Wildcat Merger Sub, Inc. | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 9/3/2030 | 682,464 | 674,003 | 672,622 | 5,6,11,18 | ||||||||||||||||||
| OPS Wildcat Merger Sub, Inc. | Revolver | 0.50 | % | 3M SOFR | 9/3/2030 | 29,412 | (318 | ) | (424 | ) | 5,6,7,8,11 | ||||||||||||||||||
| OPTI9 Technologies LLC | First Lien Term Loan | 8.41 | % | 1M SOFR | 4.75 | % | 11/25/2031 | 4,000,000 | 3,960,330 | 3,960,115 | 5,6,10,19 | ||||||||||||||||||
| Optimizely North America Inc. | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 10/30/2031 | 3,611,520 | 3,580,887 | 3,544,071 | 5,6,10,18 | ||||||||||||||||||
| Optimizely North America Inc. | Revolver | 0.50 | % | 3M SOFR | 10/30/2031 | 352,000 | (2,819 | ) | (6,557 | ) | 5,6,7,8,10 | ||||||||||||||||||
| OrthoFeet, Inc. | First Lien Term Loan | 9.13 | % | 6M SOFR | 5.50 | % | 7/30/2030 | 1,800,686 | 1,780,313 | 1,769,212 | 5,6,11,19 | ||||||||||||||||||
| Orthopaedic (ITC) Management Services, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 7/31/2028 | 20 | 1,286 | 20 | 5,6,11,19 | ||||||||||||||||||
| OSR Opco LLC | First Lien Term Loan | 9.18 | % | 1M SOFR | 5.50 | % | 3/15/2029 | 292,500 | 288,126 | 288,843 | 5,6,13 | ||||||||||||||||||
| OSR Opco LLC | Revolver | 9.16 | % | 3M SOFR | 5.50 | % | 3/15/2029 | 100,000 | 48,745 | 48,873 | 5,6,8,11 | ||||||||||||||||||
| Owl Cyber Defense Solutions, LLC | First Lien Term Loan | 9.42 | % | 1M SOFR | 5.75 | % | 9/11/2029 | 3,292,466 | 3,261,273 | 3,262,760 | 5,6,11,18 | ||||||||||||||||||
| Owl Cyber Defense Solutions, LLC | Revolver | 0.50 | % | 3M SOFR | 9/11/2029 | 315,137 | (2,188 | ) | (2,843 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Packaging Coordinators Midco, Inc. | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 7/11/2032 | 379,610 | 379,610 | 374,849 | 5,6,10 | ||||||||||||||||||
| Packaging Coordinators Midco, Inc. | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 7/11/2032 | 1,862,602 | 1,858,523 | 1,839,242 | 5,6,10,18 | ||||||||||||||||||
| Packaging Coordinators Midco, Inc. | Revolver | 0.50 | % | 3M SOFR | 7/9/2032 | 374,524 | (1,557 | ) | (918 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Packaging Coordinators Midco, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 7/9/2032 | 487,420 | (4,543 | ) | (5,035 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Packaging Coordinators Midco, Inc. | Delayed Draw | — | % | 1M SOFR | 7/9/2032 | 475,531 | (4,432 | ) | (131 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Packaging Coordinators Midco, Inc. | Delayed Draw | 8.17 | % | 3M SOFR | 4.50 | % | 7/9/2032 | 51,456 | 27,219 | 27,218 | 5,6,8,10 | ||||||||||||||||||
| Packaging Coordinators Midco, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 7/9/2032 | 357,462 | — | (2,680 | ) | 5,6,8,10,25 | |||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| PAG Holding Corp. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 12/21/2029 | $ | 819,569 | $ | 815,505 | $ | 814,517 | 5,6,11,18 | |||||||||||||||
| PAG Holding Corp. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 12/21/2029 | 3,553,460 | 3,523,643 | 3,519,817 | 5,6,11,18 | ||||||||||||||||||
| PAG Holding Corp. | Revolver | 8.44 | % | 3M SOFR | 4.75 | % | 12/21/2029 | 392,426 | 206,110 | 211,901 | 5,6,8,11 | ||||||||||||||||||
| PAI Financing Merger Sub LLC | First Lien Term Loan | 8.20 | % | 3M SOFR | 4.50 | % | 2/13/2032 | 4,324,714 | 4,267,642 | 4,259,462 | 5,6,10,18 | ||||||||||||||||||
| PAI Financing Merger Sub LLC | Revolver | 8.20 | % | 3M SOFR | 4.50 | % | 2/13/2032 | 924,296 | 80,740 | 78,519 | 5,6,8,10 | ||||||||||||||||||
| Par Excellence Holdings, Inc. | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 9/3/2030 | 6,186,260 | 6,094,563 | 6,082,660 | 5,6,11,18 | ||||||||||||||||||
| Patriot Foods Buyer, Inc.. | Delayed Draw | 8.92 | % | 3M SOFR | 5.25 | % | 12/24/2029 | 2,737,449 | 905,767 | 908,682 | 5,6,8,11 | ||||||||||||||||||
| Pave America Holding, LLC | First Lien Term Loan | 6.07% / 2.88 | % | 3M SOFR | 5.25 | % | 8/27/2032 | 2,516,728 | 2,492,087 | 2,487,293 | 5,10,18 | ||||||||||||||||||
| Pave America Holding, LLC | Revolver | 8.45 | % | 3M SOFR | 4.75 | % | 8/27/2032 | 648,649 | 223,149 | 228,113 | 5,6,8,10 | ||||||||||||||||||
| Pave America Holding, LLC | Delayed Draw | 6.05% / 2.88 | % | 3M SOFR | 5.25 | % | 8/27/2032 | 865,991 | 247,664 | 254,826 | 5,8,10 | ||||||||||||||||||
| PCS Midco, Inc. | First Lien Term Loan | 9.45 | % | 3M SOFR | 5.75 | % | 3/1/2030 | 540,518 | 534,036 | 532,298 | 5,6,11,18 | ||||||||||||||||||
| PCS Midco, Inc. | Revolver | 0.50 | % | 3M SOFR | 3/1/2030 | 6,250 | (65 | ) | (95 | ) | 5,6,7,8,11 | ||||||||||||||||||
| PCS Midco, Inc. | Delayed Draw | 9.45 | % | 3M SOFR | 5.75 | % | 3/1/2030 | 6,198 | 3,473 | 3,469 | 5,6,8,11 | ||||||||||||||||||
| Pediatric Home Respiratory Services, LLC | First Lien Term Loan | 9.10 | % | 6M SOFR | 5.50 | % | 12/23/2030 | 3,980,000 | 3,970,088 | 3,969,254 | 5,6,10,18 | ||||||||||||||||||
| PestCo, LLC | First Lien Term Loan | 8.42 | % | 3M SOFR | 4.75 | % | 8/6/2030 | 3,045,101 | 3,029,996 | 3,024,686 | 5,6,11,18 | ||||||||||||||||||
| PestCo, LLC | Revolver | 0.50 | % | 3M SOFR | 8/6/2030 | 268,456 | (1,171 | ) | (1,800 | ) | 5,6,7,8,11 | ||||||||||||||||||
| PestCo, LLC | Delayed Draw | 8.41 | % | 3M SOFR | 4.75 | % | 8/6/2030 | 670,268 | 345,174 | 343,627 | 5,6,8,11 | ||||||||||||||||||
| PGI Parent LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 12/31/2031 | 1,974,552 | 1,954,865 | 1,952,421 | 5,6,11,18 | ||||||||||||||||||
| PGI Parent LLC | Revolver | 10.75 | % | 3M PRIME | 4.00 | % | 12/31/2031 | 359,909 | 32,540 | 31,956 | 5,6,8,11 | ||||||||||||||||||
| Pharmalogic Holdings Corp | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 6/21/2030 | 2,911,865 | 2,878,385 | 2,870,258 | 5,6,11,18 | ||||||||||||||||||
| Pharmalogic Holdings Corp | Delayed Draw | 8.67 | % | 1M SOFR | 5.00 | % | 6/21/2030 | 1,034,715 | 610,074 | 613,381 | 5,6,8,11 | ||||||||||||||||||
| Physician Life Care Planning, L.L.C. | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 12/27/2030 | 3,990,489 | 3,951,112 | 3,950,901 | 5,6,11,19 | ||||||||||||||||||
| PK Purchaser LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 9/19/2029 | 3,940,000 | 3,910,642 | 3,641,209 | 5,6,11,18 | ||||||||||||||||||
| Play Holdings, Inc. | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 10/29/2031 | 3,757,573 | 3,701,477 | 3,696,541 | 5,6,10,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Play Holdings, Inc. | Revolver | 8.94 | % | 1M SOFR | 5.25 | % | 10/29/2030 | $ | 233,010 | $ | 50,561 | $ | 49,987 | 5,6,8,10 | |||||||||||||||
| PMA Parent Holdings, LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 1/31/2031 | 2,324,309 | 2,303,945 | 2,293,549 | 5,6,10,18 | ||||||||||||||||||
| PMA Parent Holdings, LLC | Revolver | 0.50 | % | 3M SOFR | 1/31/2031 | 97,114 | (872 | ) | (1,095 | ) | 5,6,7,8,10 | ||||||||||||||||||
| PMA Parent Holdings, LLC | Revolver | 0.50 | % | 3M SOFR | 1/31/2031 | 104,500 | (806 | ) | (1,178 | ) | 5,6,7,8,10,18 | ||||||||||||||||||
| Point Quest Group, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 11/13/2031 | 3,211,463 | 3,195,479 | 3,189,006 | 5,6,10,18 | ||||||||||||||||||
| Point Quest Group, Inc. | Revolver | 0.50 | % | 3M SOFR | 11/13/2031 | 292,683 | (1,373 | ) | (2,047 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Point Quest Group, Inc. | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 11/13/2031 | 487,805 | 62,101 | 60,979 | 5,6,8,10 | ||||||||||||||||||
| PPW Aero Buyer, Inc. | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 9/30/2031 | 401,947 | 396,754 | 398,244 | 5,6,11 | ||||||||||||||||||
| PPW Aero Buyer, Inc. | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 9/30/2031 | 787,738 | 780,921 | 780,482 | 5,6,11,18 | ||||||||||||||||||
| PPW Aero Buyer, Inc. | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 9/30/2031 | 267,597 | 266,118 | 265,909 | 5,6,11,18 | ||||||||||||||||||
| PPW Aero Buyer, Inc. | Delayed Draw | 0.50 | % | 3M SOFR | 9/30/2031 | 44,980 | (293 | ) | (354 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Premise Health Holding Corp. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 11/8/2032 | 175,846 | 174,160 | 173,736 | 5,6,10,18 | ||||||||||||||||||
| Premise Health Holding Corp. | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 11/8/2032 | 74,353 | 43,864 | 43,675 | 5,6,8,10 | ||||||||||||||||||
| Prestige PEO Holdings, LLC | First Lien Term Loan | 9.41 | % | 3M SOFR | 5.50 | % | 1/14/2030 | 3,605,221 | 3,557,543 | 3,551,563 | 5,6,12,18 | ||||||||||||||||||
| Prestige PEO Holdings, LLC | Revolver | 8.17 | % | 3M SOFR | 4.50 | % | 1/14/2030 | 346,831 | 169,165 | 168,267 | 5,6,8,12 | ||||||||||||||||||
| PRGX Global, Inc. | First Lien Term Loan | 9.16 | % | 3M SOFR | 5.50 | % | 12/20/2030 | 7,227,999 | 7,192,240 | 7,185,098 | 5,6,11,18 | ||||||||||||||||||
| PRGX Global, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 12/20/2030 | 876,121 | (1,781 | ) | (2,992 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| PrimeFlight Acquisition, LLC | First Lien Term Loan | 8.92 | % | 3M SOFR | 5.25 | % | 5/1/2029 | 695,422 | 691,986 | 691,232 | 5,6,11,18 | ||||||||||||||||||
| PrimeFlight Acquisition, LLC | First Lien Term Loan | 8.92 | % | 3M SOFR | 5.25 | % | 5/1/2029 | 464,405 | 459,796 | 458,939 | 5,6,11,18 | ||||||||||||||||||
| Primeflight Acquisition, LLC | First Lien Term Loan | 8.41 | % | 3M SOFR | 4.75 | % | 5/1/2029 | 1,000,395 | 995,590 | 993,707 | 5,6,11,18 | ||||||||||||||||||
| PTSH Intermediate Holdings, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 1/8/2033 | 4,000,000 | 3,960,106 | 3,952,543 | 5,6,10,18 | ||||||||||||||||||
| Puma Buyer, LLC | Revolver | 0.38 | % | 3M SOFR | 3/29/2032 | 1,388,889 | (8,919 | ) | (1 | ) | 5,6,7,8,9 | ||||||||||||||||||
| Puma Buyer, LLC | First Lien Term Loan | 7.95 | % | 3M SOFR | 4.25 | % | 3/29/2032 | 8,546,528 | 8,489,460 | 8,546,521 | 5,6,9,18 | ||||||||||||||||||
| Puris, LLC | First Lien Term Loan | 9.45 | % | 3M SOFR | 5.75 | % | 6/30/2031 | 2,960,157 | 2,929,968 | 2,939,590 | 5,6,11,18 | ||||||||||||||||||
| Purple Cow Buyer, LLC | Delayed Draw | 8.68 | % | 3M SOFR | 5.00 | % | 11/5/2030 | 2,978,237 | 401,616 | 390,465 | 5,6,8,11 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Quantum Design International | First Lien Term Loan | 8.38 | % | 3M SOFR | 4.75 | % | 10/11/2030 | $ | 898,461 | $ | 900,973 | $ | 888,018 | 5,6,11,19 | |||||||||||||||
| Quantum Design International | Delayed Draw | 1.00 | % | 3M SOFR | 10/11/2030 | 1,626,016 | (11,702 | ) | (18,899 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Quantum Design International | Delayed Draw | 8.37 | % | 6M SOFR | 4.75 | % | 10/11/2030 | 2,439,024 | 2,005,206 | 2,004,172 | 5,6,8,11 | ||||||||||||||||||
| Quick Quack Car Wash Holdings, LLC | Delayed Draw | 8.67 | % | 1M SOFR | 5.00 | % | 6/10/2031 | 5,170,750 | 5,135,505 | 5,125,829 | 5,6,10 | ||||||||||||||||||
| Quick Quack Car Wash Holdings, LLC | Delayed Draw | 8.67 | % | 1M SOFR | 5.00 | % | 6/10/2031 | 4,797,300 | 1,043,691 | 1,039,349 | 5,6,8,10 | ||||||||||||||||||
| Railpros Parent, LLC | First Lien Term Loan | 7.91 | % | 3M SOFR | 4.25 | % | 5/24/2032 | 1,438,288 | 1,425,494 | 1,425,470 | 5,6,10,18 | ||||||||||||||||||
| Railpros Parent, LLC | Revolver | 0.38 | % | 3M SOFR | 5/24/2032 | 222,387 | (2,089 | ) | (1,975 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Railpros Parent, LLC | Delayed Draw | 7.91 | % | 3M SOFR | 4.25 | % | 5/24/2032 | 444,774 | 128,840 | 131,726 | 5,6,8,10 | ||||||||||||||||||
| RBFD Buyer, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 10/31/2030 | 784,120 | 775,859 | 773,126 | 5,6,11,18 | ||||||||||||||||||
| RBFD Buyer, LLC | Revolver | 0.50 | % | 3M SOFR | 10/31/2030 | 81,191 | (808 | ) | (1,138 | ) | 5,6,7,8,11 | ||||||||||||||||||
| RBFD Buyer, LLC | Delayed Draw | 8.42 | % | 1M SOFR | 4.75 | % | 10/31/2030 | 323,586 | 165,494 | 165,220 | 5,6,8,11 | ||||||||||||||||||
| RCP Nats Purchaser, LLC | First Lien Term Loan | 8.69 | % | 3M SOFR | 5.00 | % | 3/19/2032 | 5,572,393 | 5,530,989 | 5,522,078 | 5,6,10,18 | ||||||||||||||||||
| RCP Nats Purchaser, LLC | Revolver | 0.50 | % | 3M SOFR | 3/19/2032 | 784,055 | (5,026 | ) | (11,011 | ) | 5,6,7,8,10 | ||||||||||||||||||
| RCP Nats Purchaser, LLC | Delayed Draw | 8.69 | % | 3M SOFR | 5.00 | % | 3/19/2032 | 1,118,399 | 664,969 | 661,633 | 5,6,8,10 | ||||||||||||||||||
| Recipe Acquisition Corp. | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 7/31/2031 | 2,546,740 | 2,536,161 | 2,536,542 | 5,6,11,18 | ||||||||||||||||||
| Recipe Acquisition Corp. | Delayed Draw | 8.70 | % | 3M SOFR | 5.00 | % | 7/31/2031 | 727,821 | 102,435 | 102,913 | 5,6,8,11 | ||||||||||||||||||
| Recipe Acquisition Corp. | Revolver | 8.70 | % | 3M SOFR | 5.00 | % | 7/31/2031 | 291,326 | 114,735 | 114,732 | 5,6,8,11 | ||||||||||||||||||
| Red Fox CD Acquisition Corporation | Delayed Draw | 9.70 | % | 3M SOFR | 6.00 | % | 3/4/2030 | 2,520,336 | 1,470,396 | 1,460,249 | 5,6,8,11 | ||||||||||||||||||
| Refocus Management Services, LLC | Delayed Draw | 8.66 | % | 3M SOFR | 5.00 | % | 2/14/2029 | 2,749,250 | 2,724,290 | 2,709,798 | 5,6,11 | ||||||||||||||||||
| Refocus Management Services, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 2/14/2029 | 455,865 | 436,238 | 449,324 | 5,6,11,19 | ||||||||||||||||||
| REP TEC Intermediate Holdings, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 5/30/2031 | 3,464,908 | 3,447,668 | 3,444,070 | 5,6,11,18 | ||||||||||||||||||
| REP TEC Intermediate Holdings, Inc. | Revolver | 0.50 | % | 3M SOFR | 5/30/2031 | 517,680 | (2,401 | ) | (3,113 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Resixperts Holdco, LLC | First Lien Term Loan | 8.66 | % | 3M SOFR | 5.00 | % | 5/2/2030 | 328,772 | 324,254 | 323,698 | 5,6,11 | ||||||||||||||||||
| Resixperts Holdco, LLC | First Lien Term Loan | 8.66 | % | 3M SOFR | 5.00 | % | 5/2/2030 | 123,811 | 122,109 | 121,900 | 5,6,11,18 | ||||||||||||||||||
| Resixperts Holdco, LLC | Delayed Draw | 8.74 | % | 3M SOFR | 5.08 | % | 5/2/2030 | 1,242,589 | 267,449 | 264,844 | 5,6,8,11 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Resixperts Holdco, LLC | Revolver | 8.63 | % | 3M SOFR | 5.00 | % | 5/2/2030 | $ | 155,474 | $ | 39,477 | $ | 39,060 | 5,6,8,11 | |||||||||||||||
| Rev Up Brands, LLC | First Lien Term Loan | 9.02 | % | 1M SOFR | 5.25 | % | 2/28/2030 | 4,900,189 | 4,887,808 | 4,847,959 | 5,6,10,19 | ||||||||||||||||||
| Riverside Assessments LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 3/19/2031 | 2,695,577 | 2,699,879 | 2,695,525 | 5,6,10,19 | ||||||||||||||||||
| Rocket Bidco, Inc. | First Lien Term Loan | 8.41 | % | 3M SOFR | 4.75 | % | 11/1/2030 | 3,703,125 | 3,645,586 | 3,613,109 | 5,6,11,18 | ||||||||||||||||||
| Rocket Youth Brands HoldCo LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 6/20/2031 | 1,166,015 | 1,160,764 | 1,146,812 | 5,6,11,18 | ||||||||||||||||||
| Rocket Youth Brands HoldCo LLC | Revolver | 0.50 | % | 3M SOFR | 6/20/2031 | 174,902 | (762 | ) | (2,880 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Rocket Youth Brands HoldCo LLC | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 6/20/2031 | 1,166,015 | 251,431 | 237,320 | 5,6,8,11 | ||||||||||||||||||
| Rotolo Consultants, Inc. | Delayed Draw | 9.45 | % | 1M SOFR | 5.75 | % | 1/31/2031 | 265,422 | 264,660 | 263,163 | 5,6,11 | ||||||||||||||||||
| RPM Purchasers, Inc. | Delayed Draw | 10.03 | % | 1M SOFR | 6.25 | % | 9/11/2028 | 491,597 | 286,734 | 287,312 | 5,6,8,14 | ||||||||||||||||||
| RPMS LLC | Delayed Draw | 9.52 | % | 1M SOFR | 5.75 | % | 8/4/2027 | 1,469,363 | 1,454,893 | 1,454,455 | 5,6,11 | ||||||||||||||||||
| RRA Corporate, LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 8/15/2029 | 1,647,360 | 1,626,432 | 1,515,644 | 5,6,11,18 | ||||||||||||||||||
| RRA Corporate, LLC | Delayed Draw | 8.92 | % | 3M SOFR | 5.25 | % | 8/15/2029 | 35,067 | 23,206 | 21,051 | 5,6,8,11 | ||||||||||||||||||
| RRA Corporate, LLC | Revolver | 8.91 | % | 3M SOFR | 5.25 | % | 8/15/2029 | 35,211 | 29,890 | 27,473 | 5,6,8,11 | ||||||||||||||||||
| Rushmore Investment III LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 10/18/2030 | 3,926,156 | 3,895,555 | 3,904,417 | 5,6,11,18 | ||||||||||||||||||
| SAAB Purchaser, Inc. | First Lien Term Loan | 8.20 | % | 3M SOFR | 4.50 | % | 11/12/2031 | 1,907,692 | 1,898,678 | 1,883,162 | 5,6,10,18 | ||||||||||||||||||
| SAAB Purchaser, Inc. | Revolver | 0.38 | % | 3M SOFR | 11/12/2031 | 246,154 | (1,127 | ) | (3,165 | ) | 5,6,7,8,10 | ||||||||||||||||||
| SAAB Purchaser, Inc. | Delayed Draw | 0.50 | % | 3M SOFR | 11/12/2031 | 1,846,154 | (8,452 | ) | (23,739 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Sabel Systems Technology Solutions, LLC | First Lien Term Loan | 9.67 | % | 1M SOFR | 6.00 | % | 10/31/2030 | 1,043,370 | 1,031,670 | 1,031,966 | 5,6,11,18 | ||||||||||||||||||
| Sabel Systems Technology Solutions, LLC | Revolver | 11.75 | % | 3M PRIME | 6.75 | % | 10/31/2030 | 79,422 | 3,187 | 3,105 | 5,6,8,11 | ||||||||||||||||||
| Safari Borrower, LLC | First Lien Term Loan | 9.41 | % | 3M SOFR | 5.75 | % | 2/3/2031 | 2,380,884 | 2,345,472 | 2,345,171 | 5,6,14 | ||||||||||||||||||
| Safari Borrower, LLC | Revolver | 0.50 | % | 3M SOFR | 2/3/2031 | 140,052 | (2,079 | ) | (2,101 | ) | 5,6,7,8,14 | ||||||||||||||||||
| Safari Borrower, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 2/3/2031 | 840,312 | (12,473 | ) | (12,605 | ) | 5,6,7,8,14,25 | ||||||||||||||||||
| SageBrush Buyer, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 7/1/2030 | 1,925,431 | 1,902,100 | 1,894,683 | 5,6,11,18 | ||||||||||||||||||
| Sagebrush Buyer, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 7/1/2030 | 920,769 | 911,578 | 910,039 | 5,6,11,18 | ||||||||||||||||||
| Sagebrush Buyer, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 7/1/2030 | 575,481 | 569,736 | 568,774 | 5,6,11,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| SageBrush Buyer, LLC | Revolver | 0.50 | % | 3M SOFR | 7/1/2030 | $ | 258,621 | $ | (2,788 | ) | $ | (4,130 | ) | 5,6,7,8,11 | |||||||||||||||
| Salisbury House, LLC | First Lien Term Loan | 8.48 | % | 3M SOFR | 4.75 | % | 8/18/2032 | 2,545,851 | 2,533,199 | 2,529,139 | 5,6,18 | ||||||||||||||||||
| Salisbury House, LLC | Revolver | 0.50 | % | 3M SOFR | 8/18/2032 | 342,122 | (1,595 | ) | (2,246 | ) | 5,6,7,8 | ||||||||||||||||||
| Salisbury House, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 8/18/2032 | 513,183 | (2,388 | ) | (3,369 | ) | 5,6,7,8,25 | ||||||||||||||||||
| Salt Dental Collective, LLC | Delayed Draw | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 414,695 | 414,695 | 414,442 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | First Lien Term Loan | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 27,627 | 27,627 | 27,610 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | First Lien Term Loan | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 39,473 | 39,473 | 39,449 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | First Lien Term Loan | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 133,351 | 133,351 | 133,269 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | First Lien Term Loan | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 135,460 | 135,460 | 135,378 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | First Lien Term Loan | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 208,831 | 208,831 | 208,704 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | First Lien Term Loan | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 105,348 | 105,348 | 105,284 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | First Lien Term Loan | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 2,378,386 | 2,378,386 | 2,376,938 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | First Lien Term Loan | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 437,542 | 437,542 | 437,276 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | First Lien Term Loan | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 959,896 | 959,896 | 959,312 | 5,6,11,18 | ||||||||||||||||||
| Salt Dental Collective, LLC | Revolver | 10.52 | % | 1M SOFR | 6.75 | % | 2/15/2028 | 720,308 | 660,283 | 659,844 | 5,6,8,11 | ||||||||||||||||||
| Salute Mission Critical, LLC | First Lien Term Loan | 8.88 | % | 1M SOFR | 5.21 | % | 11/30/2029 | 25,902 | 25,679 | 25,475 | 5,6,11 | ||||||||||||||||||
| Salute Mission Critical, LLC | First Lien Term Loan | 8.88 | % | 1M SOFR | 5.21 | % | 11/30/2029 | 3,730,168 | 3,694,325 | 3,660,751 | 5,6,11,18 | ||||||||||||||||||
| Salute Mission Critical, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 11/30/2029 | 41,427 | (149 | ) | (477 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Security Buyer, LLC | Term Loan | 9.20 | % | 3M SOFR | 5.50 | % | 3/31/2032 | 825,789 | 813,402 | 813,407 | 5,6 | ||||||||||||||||||
| Security Buyer, LLC | Revolver | 0.50 | % | 3M SOFR | 3/31/2032 | 183,509 | (2,753 | ) | (2,751 | ) | 5,6,7,8 | ||||||||||||||||||
| Security Buyer, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 3/31/2032 | 110,105 | (1,652 | ) | (1,651 | ) | 5,6,7,8,25 | ||||||||||||||||||
| Shock Doctor Intermediate LLC | First Lien Term Loan | 9.20 | % | 3M SOFR | 5.50 | % | 11/20/2029 | 2,060,377 | 2,063,817 | 2,057,268 | 5,6,11,19 | ||||||||||||||||||
| Sigma Defense Systems, Inc. | First Lien Term Loan | 10.07 | % | 1M SOFR | 6.25 | % | 12/18/2027 | 781,530 | 771,674 | 771,539 | 5,6,11,18 | ||||||||||||||||||
| Sigma Defense Systems, Inc. | Revolver | 10.08 | % | 1M SOFR | 6.25 | % | 12/18/2027 | 25,000 | 5,874 | 6,412 | 5,6,8,11 | ||||||||||||||||||
| Sigma Defense Systems, Inc. | Delayed Draw | 1.00 | % | 3M SOFR | 12/18/2027 | 211,330 | (3,308 | ) | (3,658 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Skryodema Bidco, LLC | First Lien Term Loan | 8.42 | % | 6M SOFR | 4.75 | % | 3/9/2033 | 3,490,909 | 3,482,233 | 3,482,182 | 5,6,10,18 | ||||||||||||||||||
| Skryodema Bidco, LLC | Delayed Draw | — | % | 3M SOFR | 3/9/2033 | 509,091 | (3,784 | ) | (1,273 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| SkyMark Refuelers, LLC | First Lien Term Loan | 8.17 | % | 3M SOFR | 4.50 | % | 12/16/2032 | 1,915,966 | 1,897,391 | 1,894,446 | 5,6,10,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| SkyMark Refuelers, LLC | Revolver | 0.50 | % | 3M SOFR | 12/16/2032 | $ | 480,192 | $ | (4,606 | ) | $ | (5,393 | ) | 5,6,7,8,10 | |||||||||||||||
| SkyMark Refuelers, LLC | Delayed Draw | 0.50 | % | 3M SOFR | 12/16/2032 | 960,384 | (9,206 | ) | (10,787 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| SkyMark Refuelers, LLC | Delayed Draw | 8.17 | % | 3M SOFR | 4.50 | % | 12/16/2032 | 643,457 | 427,656 | 426,637 | 5,6,8,10 | ||||||||||||||||||
| Socket Holding Corporation | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 3/31/2031 | 987,406 | 972,739 | 973,892 | 5,6,10,18 | ||||||||||||||||||
| Socket Holding Corporation | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 3/31/2031 | 974,241 | 974,241 | 965,449 | 5,6,10,18 | ||||||||||||||||||
| Socket Holding Corporation | Revolver | 0.50 | % | 3M SOFR | 3/31/2031 | 202,545 | (2,162 | ) | (2,260 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Socket Holding Corporation | Delayed Draw | 8.67 | % | 1M SOFR | 5.00 | % | 3/31/2031 | 784,861 | 769,138 | 776,042 | 5,6,8,10 | ||||||||||||||||||
| Solace Healthcare Holdco, Inc. | First Lien Term Loan | 8.41 | % | 3M SOFR | 4.75 | % | 2/2/2032 | 3,831,579 | 3,794,043 | 3,790,561 | 5,6,11,19 | ||||||||||||||||||
| Solairus Holdings, LLC | First Lien Term Loan | 9.70 | % | 3M SOFR | 6.00 | % | 11/13/2028 | 3,195,423 | 3,159,569 | 3,129,814 | 5,6,11,18 | ||||||||||||||||||
| Solairus Holdings, LLC | Revolver | 0.50 | % | 3M SOFR | 7/22/2030 | 67,126 | 132 | 167 | 5,6,7,8,11 | ||||||||||||||||||||
| Solairus Holdings, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 11/13/2028 | 1,173,709 | (6,098 | ) | (24,054 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Solairus Holdings, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 7/22/2030 | 268,502 | (530 | ) | (270 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Solairus Holdings, LLC | Revolver | 9.70 | % | 3M SOFR | 6.00 | % | 11/13/2028 | 528,169 | 131,798 | 126,500 | 5,6,8,11 | ||||||||||||||||||
| Sonny's Enterprises, LLC | Delayed Draw | 9.32 | % | 3M SOFR | 5.50 | % | 8/5/2028 | 149,820 | 11,098 | 10,569 | 5,6,8,11 | ||||||||||||||||||
| Soteria Flexibles Corp | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 8/15/2029 | 2,614,169 | 2,616,681 | 2,604,151 | 5,6,11,19 | ||||||||||||||||||
| SourceHOV Tax, LLC | First Lien Term Loan | 9.68 | % | 3M SOFR | 5.75 | % | 4/6/2028 | 4,861,142 | 4,708,724 | 4,774,763 | 5,6,11,19 | ||||||||||||||||||
| Southern Orthodontic Partners, LLC | First Lien Term Loan | 8.41 | % | 3M SOFR | 4.75 | % | 7/27/2029 | 2,060,501 | 2,060,501 | 2,060,501 | 5,6,11 | ||||||||||||||||||
| Southern Orthodontic Partners, LLC | Revolver | 0.50 | % | 3M SOFR | 7/27/2029 | 85,446 | — | — | 5,6,7,8,11 | ||||||||||||||||||||
| Southern Orthodontic Partners, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 7/27/2029 | 320,378 | — | — | 5,6,7,8,11,25 | ||||||||||||||||||||
| Spring Dental Intermediate, LLC | Delayed Draw | 9.64 | % | 3M SOFR | 5.82 | % | 12/23/2026 | 4,183,285 | 4,178,547 | 4,173,451 | 5,6,11 | ||||||||||||||||||
| Springline Advisory Intermediate, LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 12/1/2031 | 382,979 | 380,118 | 379,487 | 5,6,11,18 | ||||||||||||||||||
| Springline Advisory Intermediate, LLC | Revolver | 0.50 | % | 3M SOFR | 12/1/2031 | 425,532 | (3,018 | ) | (3,880 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Springline Advisory Intermediate, LLC | Delayed Draw | 8.70 | % | 3M SOFR | 5.03 | % | 12/1/2031 | 3,191,489 | 3,085,801 | 3,079,412 | 5,6,8,11 | ||||||||||||||||||
| Spruce Bidco I Inc. & Spruce Bidco II Inc. | First Lien Term Loan | 8.45 | % | 6M SOFR | 4.75 | % | 2/2/2032 | 7,872,522 | 7,769,526 | 7,732,074 | 5,6,10,18 | ||||||||||||||||||
| SRP Eagle Buyer, Inc. | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 12/8/2031 | 2,188,065 | 2,166,263 | 2,162,034 | 5,6,13,18 | ||||||||||||||||||
| SRP Eagle Buyer, Inc. | Revolver | 0.50 | % | 3M SOFR | 12/8/2031 | 516,129 | (4,897 | ) | (6,140 | ) | 5,6,7,8,13 | ||||||||||||||||||
| SRP Eagle Buyer, Inc. | Delayed Draw | — | % | 3M SOFR | 12/8/2031 | 1,290,323 | (12,233 | ) | (15,351 | ) | 5,6,7,8,13,25 | ||||||||||||||||||
| Stonebridge Companies, LLC | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 5/16/2031 | 3,560,029 | 3,528,422 | 3,522,751 | 5,6,11,18 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Stonebridge Companies, LLC | Revolver | 0.50 | % | 3M SOFR | 5/16/2030 | $ | 681,508 | $ | (5,639 | ) | $ | (7,136 | ) | 5,6,7,8,11 | |||||||||||||||
| Stonebridge Companies, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 5/16/2031 | 1,022,263 | (8,775 | ) | (10,704 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Straine Dental Management, LLC | First Lien Term Loan | 11.19 | % | 1M SOFR | 7.42 | % | 11/25/2030 | 2,747,260 | 2,720,055 | 2,719,249 | 5,6,14 | ||||||||||||||||||
| Straine Dental Management, LLC | Delayed Draw | 11.00 | % | 1M SOFR | 7.24 | % | 11/25/2030 | 955,753 | 22,093 | 21,725 | 5,6,8,14 | ||||||||||||||||||
| Sunset Distributing, LLC | Delayed Draw | 9.45 | % | 3M SOFR | 5.75 | % | 5/30/2030 | 710,835 | 691,977 | 700,397 | 5,6,11 | ||||||||||||||||||
| Sunset Distributing, LLC | First Lien Term Loan | 9.45 | % | 3M SOFR | 5.75 | % | 5/30/2030 | 3,708,706 | 3,643,026 | 3,654,247 | 5,6,11,18 | ||||||||||||||||||
| SuperHero Fire Protection, LLC | First Lien Term Loan | 9.20 | % | 3M SOFR | 5.50 | % | 12/31/2029 | 576,581 | 570,139 | 569,027 | 5,6,11,18 | ||||||||||||||||||
| SuperHero Fire Protection, LLC | Revolver | 9.36 | % | 3M SOFR | 5.50 | % | 12/31/2029 | 56,944 | 25,134 | 25,354 | 5,6,8,11 | ||||||||||||||||||
| Surgical Center Solutions, LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 3/25/2031 | 2,046,492 | 2,020,479 | 2,020,598 | 5,6,11,18 | ||||||||||||||||||
| Surgical Center Solutions, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 3/25/2031 | 621,890 | (3,388 | ) | (3,788 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Surgical Center Solutions, LLC | Revolver | 8.42 | % | 1M SOFR | 4.75 | % | 3/25/2031 | 310,945 | 15,267 | 14,722 | 5,6,8,11 | ||||||||||||||||||
| SV Newco 2, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 6/2/2031 | 475,925 | 473,560 | 472,670 | 5,6,10,18 | ||||||||||||||||||
| SV Newco 2, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 6/2/2031 | 745,660 | 741,955 | 740,561 | 5,6,10,18 | ||||||||||||||||||
| SV Newco 2, Inc. | Delayed Draw | 8.82 | % | 3M SOFR | 4.56 | % | 6/2/2031 | 299,416 | 298,014 | 298,115 | 5,6,10,18 | ||||||||||||||||||
| SV Newco 2, Inc. | Revolver | 8.45 | % | 3M SOFR | 4.75 | % | 6/2/2031 | 180,733 | (826 | ) | (1,237 | ) | 5,6,7,8,10 | ||||||||||||||||
| SV Newco 2, Inc. | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 6/2/2031 | 2,294,340 | 459,854 | 454,640 | 5,6,8,10 | ||||||||||||||||||
| Syndigo LLC | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 9/2/2032 | 3,517,251 | 3,482,222 | 3,477,006 | 5,6,10,18 | ||||||||||||||||||
| Syndigo LLC | Revolver | 8.67 | % | 3M SOFR | 5.00 | % | 9/2/2032 | 473,934 | 109,388 | 108,335 | 5,6,8,10 | ||||||||||||||||||
| Syner-G Intermediate Holdings LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 9/17/2030 | 9,230,857 | 9,199,645 | 9,132,931 | 5,6,11,19 | ||||||||||||||||||
| Talent Worldwide Inc. | First Lien Term Loan | 9.20 | % | 3M SOFR | 5.50 | % | 1/16/2031 | 2,114,864 | 2,084,163 | 2,079,391 | 5,6,11 | ||||||||||||||||||
| Talent Worldwide Inc. | Revolver | 9.20 | % | 3M SOFR | 5.50 | % | 1/16/2031 | 151,440 | 73,536 | 73,180 | 5,6,8,11 | ||||||||||||||||||
| Tau Midco, LLC | First Lien Term Loan | 6.20% / 2.50 | % | 3M SOFR | 5.00 | % | 2/2/2032 | 2,723,085 | 2,701,460 | 2,704,735 | 5,10,18 | ||||||||||||||||||
| Tau Midco, LLC | Revolver | 8.20 | % | 3M SOFR | 4.50 | % | 2/2/2032 | 352,942 | 110,262 | 110,564 | 5,6,8,10 | ||||||||||||||||||
| Tau Midco, LLC | Delayed Draw | 6.20% / 2.50 | % | 3M SOFR | 5.00 | % | 2/2/2032 | 945,126 | 618,845 | 618,757 | 5,8,10 | ||||||||||||||||||
| Tender Products, Inc. | First Lien Term Loan | 8.92 | % | 1M SOFR | 5.25 | % | 7/31/2030 | 336,000 | 331,383 | 330,277 | 5,6,11 | ||||||||||||||||||
| Tender Products, Inc. | Revolver | 0.50 | % | 3M SOFR | 7/31/2030 | 63,158 | (823 | ) | (1,076 | ) | 5,6,7,8,11 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Thames Technology Holdings, Inc. | First Lien Term Loan | 9.41 | % | 3M SOFR | 5.75 | % | 8/31/2029 | $ | 1,737,990 | $ | 1,719,164 | $ | 1,724,376 | 5,6,11,18 | |||||||||||||||
| The Hardenbergh Group, Inc. | First Lien Term Loan | 10.30 | % | 3M SOFR | 6.50 | % | 8/7/2028 | 3,801,693 | 3,769,853 | 3,774,610 | 5,6,14,18 | ||||||||||||||||||
| The Hardenbergh Group, Inc. | First Lien Term Loan | 10.30 | % | 3M SOFR | 6.50 | % | 8/7/2028 | 159,106 | 157,518 | 157,449 | 5,6,14,18 | ||||||||||||||||||
| Theoria Management, LLC | Delayed Draw | 8.73 | % | 3M SOFR | 5.00 | % | 11/25/2030 | 1,180,061 | 136,267 | 128,789 | 5,6,8,11 | ||||||||||||||||||
| TL Atlas Merger Sub Corp | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 6/30/2031 | 8,634,750 | 8,556,679 | 8,535,055 | 5,6,11,18 | ||||||||||||||||||
| TL Atlas Merger Sub Corp | Revolver | 0.50 | % | 3M SOFR | 6/30/2031 | 1,000,000 | (8,778 | ) | (11,546 | ) | 5,6,7,8,11 | ||||||||||||||||||
| TMSC OpCo, LLC | First Lien Term Loan | 9.92 | % | 1M SOFR | 6.25 | % | 5/1/2028 | 753,382 | 744,956 | 739,943 | 5,6,11,18 | ||||||||||||||||||
| ToxStrategies, LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 11/12/2031 | 2,001,967 | 1,992,003 | 1,981,893 | 5,6,10,18 | ||||||||||||||||||
| ToxStrategies, LLC | Revolver | 0.50 | % | 3M SOFR | 11/12/2031 | 229,183 | (1,073 | ) | (2,298 | ) | 5,6,7,8,10 | ||||||||||||||||||
| ToxStrategies, LLC | Delayed Draw | 8.45 | % | 3M SOFR | 4.75 | % | 11/12/2031 | 490,287 | 321,912 | 321,669 | 5,6,8,10 | ||||||||||||||||||
| TPC US Parent, LLC | First Lien Term Loan | 9.56 | % | 3M SOFR | 5.75 | % | 4/20/2026 | 245,000 | 244,882 | 244,871 | 5,6,11,18 | ||||||||||||||||||
| TRAK Purchaser, Inc. | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 6/20/2031 | 1,360,227 | 1,343,276 | 1,344,160 | 5,6,11 | ||||||||||||||||||
| TRAK Purchaser, Inc. | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 6/20/2031 | 1,360,227 | 1,343,276 | 1,344,160 | 5,6,11,18 | ||||||||||||||||||
| Traliant Operating LLC | First Lien Term Loan | 8.85 | % | 3M SOFR | 5.25 | % | 12/16/2030 | 2,670,895 | 2,675,158 | 2,668,526 | 5,6,10,19 | ||||||||||||||||||
| Transgo, LLC | First Lien Term Loan | 8.92 | % | 1M SOFR | 5.25 | % | 12/29/2028 | 1,943,441 | 1,933,769 | 1,933,699 | 5,6,14,18 | ||||||||||||||||||
| Transgo, LLC | Revolver | 8.92 | % | 1M SOFR | 5.25 | % | 12/29/2028 | 197,932 | 104,601 | 104,574 | 5,6,8,14 | ||||||||||||||||||
| Transition Finance Strategies, LLC | First Lien Term Loan | 8.17 | % | 3M SOFR | 4.50 | % | 6/28/2029 | 2,695,577 | 2,677,773 | 2,663,502 | 5,6,11,19 | ||||||||||||||||||
| Tricor, LLC | Delayed Draw | 9.02 | % | 1M SOFR | 5.25 | % | 8/8/2031 | 192,298 | 190,080 | 188,774 | 5,6,11 | ||||||||||||||||||
| Tricor, LLC | Delayed Draw | 9.02 | % | 1M SOFR | 5.25 | % | 8/8/2031 | 157,263 | 154,836 | 154,381 | 5,6,11,18 | ||||||||||||||||||
| Tricor, LLC | First Lien Term Loan | 9.02 | % | 1M SOFR | 5.25 | % | 8/8/2031 | 1,502,294 | 1,489,338 | 1,486,470 | 5,6,11,18 | ||||||||||||||||||
| Tricor, LLC | Revolver | 0.50 | % | 3M SOFR | 8/8/2031 | 242,183 | (2,037 | ) | (2,553 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Tricor, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 8/8/2031 | 1,892,058 | (16,917 | ) | (19,929 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| Trintech Inc. | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 1/28/2033 | 3,096,774 | 3,066,314 | 3,045,424 | 5,6,10,18 | ||||||||||||||||||
| Trintech Inc. | Revolver | 0.50 | % | 3M SOFR | 1/28/2033 | 387,097 | (3,787 | ) | (6,419 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Trintech Inc. | Delayed Draw | 0.75 | % | 3M SOFR | 1/28/2033 | 516,129 | (5,051 | ) | (8,558 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Truck-Lite CO., LLC | First Lien Term Loan | 8.42 | % | 3M SOFR | 4.75 | % | 2/13/2032 | $ | 100,099 | $ | 99,108 | $ | 99,279 | 5,6,10,18 | |||||||||||||||
| Truck-Lite CO., LLC | Delayed Draw | 1.00 | % | 3M SOFR | 2/13/2032 | 481,478 | (3,196 | ) | (2,727 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Truck-Lite CO., LLC | Delayed Draw | 8.42 | % | 3M SOFR | 4.75 | % | 2/13/2032 | 968,088 | 373,517 | 377,190 | 5,6,8,10 | ||||||||||||||||||
| True Talent Advisory Borrower LLC | First Lien Term Loan | 8.90 | % | 1M SOFR | 5.25 | % | 1/10/2033 | 1,440,340 | 1,416,555 | 1,416,060 | 5,6,11 | ||||||||||||||||||
| True Talent Advisory Borrower LLC | First Lien Term Loan | 8.90 | % | 1M SOFR | 5.25 | % | 1/10/2033 | 719,090 | 705,944 | 706,969 | 5,6,11,18 | ||||||||||||||||||
| True Talent Advisory Borrower LLC | Revolver | 0.50 | % | 3M SOFR | 1/9/2032 | 521,360 | (10,043 | ) | (10,522 | ) | 5,6,7,8,11 | ||||||||||||||||||
| True Talent Advisory Borrower LLC | Delayed Draw | 1.00 | % | 3M SOFR | 1/10/2033 | 1,007,734 | (19,530 | ) | (20,336 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| TVG- MGT Merger, LLC | First Lien Term Loan | 8.65 | % | 3M SOFR | 5.00 | % | 4/10/2029 | 2,539,347 | 2,514,232 | 2,514,382 | 5,6,11,18 | ||||||||||||||||||
| TVG- MGT Merger, LLC | Delayed Draw | 8.66 | % | 1M SOFR | 5.00 | % | 4/10/2029 | 2,399,797 | 852,158 | 853,798 | 5,6,8,11 | ||||||||||||||||||
| TVG- MGT Merger, LLC | Revolver | 10.75 | % | 3M PRIME | 4.00 | % | 4/10/2029 | 332,356 | 268,189 | 267,539 | 5,6,8,11 | ||||||||||||||||||
| Tvg Shelby Buyer, Inc. | First Lien Term Loan | 9.20 | % | 3M SOFR | 5.50 | % | 3/27/2028 | 818,750 | 811,691 | 810,861 | 5,6,11,18 | ||||||||||||||||||
| Tvg Shelby Buyer, Inc. | Revolver | 0.50 | % | 3M SOFR | 3/27/2028 | 83,333 | (659 | ) | (802 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Tvg Shelby Buyer, Inc. | Delayed Draw | 9.20 | % | 3M SOFR | 5.50 | % | 3/27/2028 | 831,356 | 308,428 | 309,535 | 5,6,8,11 | ||||||||||||||||||
| TWH Bidco, LLC | First Lien Term Loan | 8.42 | % | 3M SOFR | 4.75 | % | 1/22/2032 | 3,159,664 | 3,143,902 | 3,141,527 | 5,6,11,18 | ||||||||||||||||||
| TWH Bidco, LLC | Delayed Draw | 0.50 | % | 3M SOFR | 1/22/2032 | 840,336 | (4,070 | ) | (4,824 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
| U.S. Urology Partners, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 4/8/2032 | 4,000,000 | (46,601 | ) | (59,099 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| Upland Software, Inc. | First Lien Term Loan | 9.70 | % | 3M SOFR | 6.00 | % | 7/25/2031 | 2,148,993 | 2,114,571 | 2,101,115 | 5,6,13 | ||||||||||||||||||
| Upland Software, Inc. | First Lien Term Loan | 9.70 | % | 3M SOFR | 6.00 | % | 7/25/2031 | 3,115,713 | 3,065,806 | 3,046,297 | 5,6,13,18 | ||||||||||||||||||
| Upland Software, Inc. | Revolver | 0.50 | % | 3M SOFR | 7/25/2031 | 680,000 | (10,575 | ) | (15,150 | ) | 5,6,7,8,13 | ||||||||||||||||||
| USIC Holdings, Inc. | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 9/10/2031 | 3,329,848 | 3,313,619 | 3,297,545 | 5,6,10,18 | ||||||||||||||||||
| USIC Holdings, Inc. | Revolver | 9.47 | % | 3M SOFR | 4.99 | % | 9/10/2031 | 429,163 | 370,223 | 368,639 | 5,6,8,10 | ||||||||||||||||||
| USIC Holdings, Inc. | Delayed Draw | 9.17 | % | 3M SOFR | 5.50 | % | 9/10/2031 | 197,704 | 136,058 | 135,148 | 5,6,8,10 | ||||||||||||||||||
| USN OpCo, LLC | First Lien Term Loan | 9.52 | % | 1M SOFR | 5.75 | % | 12/21/2026 | 1,565,644 | 1,559,274 | 1,561,400 | 5,6,11,19 | ||||||||||||||||||
| USN OpCo, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 12/21/2026 | 3,333,333 | (7,174 | ) | (9,036 | ) | 5,6,7,8,11,25 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| UVC Management LLC | Delayed Draw | 8.96 | % | 3M SOFR | 5.25 | % | 11/18/2028 | $ | 3,726,375 | $ | 3,704,905 | $ | 3,712,989 | 5,6,11 | |||||||||||||||
| Vacation Rental Brands, LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 5/6/2032 | 1,382,979 | 1,369,742 | 1,373,330 | 5,6,11 | ||||||||||||||||||
| Vacation Rental Brands, LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 5/6/2032 | 4,562,663 | 4,517,488 | 4,530,829 | 5,6,11,18 | ||||||||||||||||||
| Vacation Rental Brands, LLC | Revolver | 0.50 | % | 3M SOFR | 5/6/2032 | 555,419 | (4,825 | ) | (3,875 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Vascular Technology, Inc. | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 4/15/2031 | 4,348,233 | 4,317,495 | 4,279,938 | 5,6,11,19 | ||||||||||||||||||
| Vascular Technology, Inc. | First Lien Term Loan | 8.67 | % | 3M SOFR | 5.00 | % | 11/15/2031 | 3,980,000 | 3,940,924 | 3,932,343 | 5,6,11,19 | ||||||||||||||||||
| Vatica Health, Inc. | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 10/29/2032 | 3,636,364 | 3,618,261 | 3,610,614 | 5,6,10,18 | ||||||||||||||||||
| Vatica Health, Inc. | Revolver | 0.50 | % | 3M SOFR | 10/29/2032 | 363,636 | (1,712 | ) | (2,575 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Vehlo Purchaser, LLC | Delayed Draw | 9.17 | % | 1M SOFR | 5.50 | % | 5/24/2028 | 4,268,154 | 4,252,893 | 4,233,832 | 5,6,10 | ||||||||||||||||||
| Vensure Employer Services, Inc. | First Lien Term Loan | 8.69 | % | 3M SOFR | 5.00 | % | 9/27/2031 | 407,593 | 405,745 | 403,117 | 5,6,9 | ||||||||||||||||||
| Vensure Employer Services, Inc. | First Lien Term Loan | 8.69 | % | 3M SOFR | 5.00 | % | 9/27/2031 | 3,545,766 | 3,527,192 | 3,506,826 | 5,6,9,18 | ||||||||||||||||||
| Vertex Service Partners, LLC | First Lien Term Loan | 5.53% / 4.17 | % | 3M SOFR | 6.00 | % | 11/8/2030 | 1,724,231 | 1,726,926 | 1,721,182 | 5,10,19 | ||||||||||||||||||
| Vertex Service Partners, LLC | Delayed Draw | 5.56% / 4.14 | % | 3M SOFR | 6.00 | % | 11/8/2030 | 1,474,993 | 285,289 | 287,493 | 5,8,11 | ||||||||||||||||||
| VISUSWR LLC | First Lien Term Loan | 9.33 | % | 6M SOFR | 5.75 | % | 11/8/2029 | 1,663,803 | 1,666,459 | 1,663,789 | 5,6,11,19 | ||||||||||||||||||
| Vital Purchaser, LLC | First Lien Term Loan | 9.20 | % | 3M SOFR | 5.50 | % | 8/7/2030 | 1,808,460 | 1,780,110 | 1,771,173 | 5,6,11,18 | ||||||||||||||||||
| Vital Purchaser, LLC | Revolver | 0.50 | % | 3M SOFR | 8/7/2030 | 164,000 | (1,796 | ) | (3,377 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Vortex Companies, LLC | Delayed Draw | 10.43 | % | 3M PRIME | 4.15 | % | 5/7/2032 | 1,884,193 | 1,870,993 | 1,881,684 | 5,6,11 | ||||||||||||||||||
| Vortex Companies, LLC | First Lien Term Loan | 8.67 | % | 1M SOFR | 5.00 | % | 5/7/2032 | 3,117,898 | 3,094,747 | 3,101,712 | 5,6,11,18 | ||||||||||||||||||
| VRC Companies, LLC | First Lien Term Loan | 8.92 | % | 3M SOFR | 5.25 | % | 6/29/2027 | 3,907,815 | 3,907,815 | 3,901,944 | 5,6,11,18 | ||||||||||||||||||
| VTC Buyer Corp. | Delayed Draw | 8.92 | % | 3M SOFR | 5.25 | % | 7/15/2031 | 1,305,733 | 1,296,672 | 1,294,590 | 5,6,11 | ||||||||||||||||||
| VTC Buyer Corp. | First Lien Term Loan | 8.92 | % | 3M SOFR | 5.25 | % | 7/15/2031 | 2,524,427 | 2,505,644 | 2,502,883 | 5,6,11,18 | ||||||||||||||||||
| VTC Buyer Corp. | Revolver | 8.91 | % | 3M SOFR | 5.25 | % | 7/15/2031 | 802,907 | 267,657 | 266,136 | 5,6,8,11 | ||||||||||||||||||
| VTC Buyer Corp. | Delayed Draw | 8.92 | % | 3M SOFR | 5.25 | % | 7/15/2031 | 921,555 | 340,992 | 339,599 | 5,6,8,11 | ||||||||||||||||||
| Vybond Buyer LLC | First Lien Term Loan | 8.45 | % | 3M SOFR | 4.75 | % | 2/3/2032 | 5,066,726 | 5,000,145 | 4,980,208 | 5,6,10,18 | ||||||||||||||||||
| Vybond Buyer LLC | Revolver | 0.50 | % | 6M SOFR | 2/3/2032 | 967,673 | (12,165 | ) | (16,525 | ) | 5,6,7,8,10 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK | Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| North America (continued) | |||||||||||||||||||||||||||||
| Vybond Buyer LLC | Delayed Draw | 1.00 | % | 6M SOFR | 2/3/2032 | $ | 1,290,231 | $ | (8,128 | ) | $ | (12,294 | ) | 5,6,7,8,10,25 | |||||||||||||||
| W.A. Kendall and Company, LLC | Delayed Draw | 9.80 | % | 6M SOFR | 5.75 | % | 4/22/2030 | 74,481 | 73,832 | 73,713 | 5,6,11 | ||||||||||||||||||
| W.A. Kendall and Company, LLC | First Lien Term Loan | 9.81 | % | 6M SOFR | 5.75 | % | 4/22/2030 | 1,219,901 | 1,208,863 | 1,207,312 | 5,6,11,18 | ||||||||||||||||||
| W.A. Kendall and Company, LLC | Delayed Draw | 9.77 | % | 6M SOFR | 5.75 | % | 4/22/2030 | 6,494,598 | 6,460,794 | 6,434,476 | 5,6,11,19 | ||||||||||||||||||
| W.A. Kendall and Company, LLC | Revolver | 10.10 | % | 3M SOFR | 5.83 | % | 4/22/2030 | 253,033 | 182,226 | 181,260 | 5,6,8,11 | ||||||||||||||||||
| W.A. Kendall and Company, LLC | Delayed Draw | 9.71 | % | 3M SOFR | 5.75 | % | 4/22/2030 | 1,841,040 | 338,242 | 334,887 | 5,6,8,11 | ||||||||||||||||||
| Wasteology Group Transportation, LLC | First Lien Term Loan | 8.41 | % | 3M SOFR | 4.75 | % | 11/3/2032 | 1,081,134 | 1,070,376 | 1,068,843 | 5,6,10 | ||||||||||||||||||
| Wasteology Group Transportation, LLC | Revolver | 0.38 | % | 3M SOFR | 11/3/2032 | 389,007 | (3,665 | ) | (4,422 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Wasteology Group Transportation, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 11/3/2032 | 1,257,132 | (11,859 | ) | (14,292 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| WCHG Buyer | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 4/10/2031 | 6,971,831 | 6,941,721 | 6,914,360 | 5,6,11,18 | ||||||||||||||||||
| Western Smokehouse Partners, LLC | First Lien Term Loan | 9.17 | % | 3M SOFR | 5.50 | % | 3/31/2029 | 7,228,646 | 7,152,379 | 7,159,505 | 5,6,11,18 | ||||||||||||||||||
| Western Smokehouse Partners, LLC | Revolver | 0.50 | % | 3M SOFR | 3/31/2029 | 309,122 | (3,490 | ) | (2,976 | ) | 5,6,7,8,11 | ||||||||||||||||||
| Western Smokehouse Partners, LLC | Delayed Draw | 9.17 | % | 1M SOFR | 5.50 | % | 3/31/2029 | 959,410 | 946,442 | 956,775 | 5,6,8,11 | ||||||||||||||||||
| Wges Buyer Inc. | Delayed Draw | 9.27 | % | 3M SOFR | 5.50 | % | 11/5/2027 | 710,400 | 709,216 | 671,678 | 5,6,11,19 | ||||||||||||||||||
| Wges Buyer Inc. | Delayed Draw | 9.27 | % | 3M SOFR | 5.50 | % | 11/5/2027 | 5,948,600 | 3,129,787 | 3,086,453 | 5,6,8,11 | ||||||||||||||||||
| Wharf Street Ratings Acquisition LLC | First Lien Term Loan | 8.42 | % | 1M SOFR | 4.75 | % | 9/16/2032 | 3,254,944 | 3,239,545 | 3,234,657 | 5,6,10,18 | ||||||||||||||||||
| Wharf Street Ratings Acquisition LLC | Revolver | 0.50 | % | 3M SOFR | 9/16/2032 | 374,332 | (1,729 | ) | (2,327 | ) | 5,6,7,8,10 | ||||||||||||||||||
| Wharf Street Ratings Acquisition LLC | Delayed Draw | 1.00 | % | 3M SOFR | 9/16/2032 | 362,567 | (1,677 | ) | (2,254 | ) | 5,6,7,8,10,25 | ||||||||||||||||||
| World Insurance Associates, LLC | First Lien Term Loan | 8.70 | % | 3M SOFR | 5.00 | % | 4/3/2030 | 9,900,000 | 9,900,000 | 9,887,389 | 5,6,11,18 | ||||||||||||||||||
| Worldwide Insurance Network, LLC | Delayed Draw | 9.48 | % | 3M SOFR | 5.81 | % | 5/28/2030 | 657,134 | 654,728 | 655,102 | 5,6,10 | ||||||||||||||||||
| Worldwide Insurance Network, LLC | First Lien Term Loan | 9.40 | % | 3M SOFR | 5.70 | % | 5/28/2030 | 820,611 | 814,368 | 817,227 | 5,6,10,18 | ||||||||||||||||||
| Worldwide Insurance Network, LLC | Delayed Draw | 9.36 | % | 1M SOFR | 5.68 | % | 5/28/2030 | 1,189,353 | 185,883 | 183,676 | 5,6,8,10 | ||||||||||||||||||
| WSRP Advisory, LLC | Delayed Draw | 8.79 | % | 3M SOFR | 5.10 | % | 2/28/2031 | 3,995,800 | 3,967,545 | 3,959,505 | 5,6,11 | ||||||||||||||||||
| Ya Ya Foods Corp | First Lien Term Loan | 8.55 | % | 3M SOFR | 4.75 | % | 8/26/2027 | 295,794 | 295,311 | 295,639 | 5,6,11,19 | ||||||||||||||||||
| Zone Climate Services Inc. | First Lien Term Loan | 9.32 | % | 3M SOFR | 5.50 | % | 3/9/2028 | 4,873,096 | 4,880,876 | 4,866,406 | 5,6,11,19 | ||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK |
Reference Rate | Spread | Maturity Date | Principal Amount |
Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Senior Secured Loans (continued) | |||||||||||||||||||||||||||||
| Total Direct Lending - Senior Secured Loans - North America | $ | 963,296,609 | $ | 959,973,760 | |||||||||||||||||||||||||
| Rest of World - 0.3% of NAV | 1,2,3,4,5,6 | ||||||||||||||||||||||||||||
| Kami Buyer, LLC | Delayed Draw | 1.00 | % | 3M SOFR | 8/17/2029 | $ | 1,818,182 | $ | (8,442 | ) | $ | (26,707 | ) | 7,8,11,25 | |||||||||||||||
| Kami Buyer, LLC | First Lien Term Loan | 8.95 | % | 3M SOFR | 5.25 | % | 8/17/2029 | 3,096,874 | 3,089,802 | 3,051,385 | 11,19 | ||||||||||||||||||
| Total Direct Lending - Senior Secured Loans - Rest of World | $ | 3,081,360 | $ | 3,024,678 | |||||||||||||||||||||||||
| Total Direct Lending - Senior Secured Loans | $ | 987,411,319 | $ | 984,004,517 | |||||||||||||||||||||||||
| Investments | Investment Type | Cash Interest Rate / PIK |
Reference Rate | Spread | Maturity Date | Principal Amount |
Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Collateralized Loan Obligations and Warehouses - 25.0% of NAV | 1,2,3,6 | ||||||||||||||||||||||||||||
| North America - 25.0% of NAV | |||||||||||||||||||||||||||||
| Audax Senior Debt CLO 12, LLC | Subordinated Notes | 4/22/2037 | $ | 2,250,000 | $ | 2,028,501 | $ | 1,997,873 | |||||||||||||||||||||
| Barings Middle Market CLO Ltd. 2025-I | Subordinated Notes | 4/15/2037 | 35,843,500 | 34,000,580 | 35,827,761 | ||||||||||||||||||||||||
| Birch Grove CLO 10 Ltd. | Subordinated Notes | 1/22/2038 | 1,500,000 | 1,493,803 | 1,209,719 | ||||||||||||||||||||||||
| Birch Grove CLO 12 Ltd. | Subordinated Notes | 4/22/2038 | 1,500,000 | 1,499,500 | 1,379,913 | ||||||||||||||||||||||||
| Birch Grove CLO Ltd. | Subordinated Notes | 7/17/2037 | 1,391,250 | 945,430 | 797,302 | ||||||||||||||||||||||||
| Carlyle US CLO 2025-2, Ltd. | Subordinated Notes | 7/25/2038 | 13,657,437 | 11,944,650 | 10,694,864 | ||||||||||||||||||||||||
| Churchill Middle Market CLO V Ltd | Subordinated Notes | 4/25/2037 | 43,052,619 | 41,789,991 | 40,805,039 | ||||||||||||||||||||||||
| CIFC Funding 2024-V, Ltd | Subordinated Notes | 1/22/2038 | 2,286,600 | 1,943,824 | 1,722,017 | 18 | |||||||||||||||||||||||
| CIFC Funding 2025-IX | Subordinated Notes | 1/22/2039 | 5,698,824 | 5,000,000 | 4,889,763 | ||||||||||||||||||||||||
| Great Lakes CLO VIII Ltd | Subordinated Notes | 7/15/2037 | 95,650,000 | 91,581,170 | 95,200,770 | ||||||||||||||||||||||||
| Jefferies Credit Partners Direct Lending CLO 2025-1 Ltd. | Subordinated Notes | 10/15/2037 | 16,314,865 | 15,091,250 | 15,908,379 | ||||||||||||||||||||||||
| Nxt Capital Clo 2024-1 Llc | Subordinated Notes | 1/15/2037 | 38,418,000 | 36,024,593 | 35,387,463 | ||||||||||||||||||||||||
| NXT Capital CLO 2026-2, Ltd. | Warehouse | 1,889,242 | 1,889,242 | 1,889,242 | 8 | ||||||||||||||||||||||||
| NXTC 2024-1A Class E Loan | Class E Note | 11.48 | % | 3M SOFR | 7.81 | % | 1/15/2037 | 17,100,000 | 16,955,680 | 16,509,225 | 5 | ||||||||||||||||||
| Total Direct Lending - Collateralized Loan Obligations and Warehouses - North America | $ | 262,188,214 | $ | 264,219,330 | |||||||||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK |
Reference Rate | Spread | Maturity Date | Principal Amount | Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Collateralized Loan Obligations and Warehouses - 25.0% of NAV | |||||||||||||||||||||||||||||
| North America - 25.0% of NAV | |||||||||||||||||||||||||||||
| Total Direct Lending - Collateralized Loan Obligations and Warehouses | $ | 262,188,214 | $ | 264,219,330 | |||||||||||||||||||||||||
| Investments | Acquisition Date |
Cost24 | Fair Value | Footnotes | |||||||||
| Direct Lending - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||
| Investment Funds - 2.0% of NAV | 1,21 | ||||||||||||
| North America - 2.0% of NAV | |||||||||||||
| 26N DL Sidecar Fund I LP | 10/23/2025 | $ | 3,750,000 | $ | 3,681,101 | 22 | |||||||
| Diameter Credit Company | 9/17/2025 | 6,375,000 | 6,314,897 | 6,8 | |||||||||
| GC BSL CLO Fund, LP. | 10/20/2025 | 5,509,166 | 5,407,230 | 8,22 | |||||||||
| Trinitas Capital Management, LLC | 1/31/2025 | 6,000,000 | 5,554,939 | 6 | |||||||||
| Total Direct Lending - Investment Funds - North America | $ | 21,634,166 | $ | 20,958,167 | |||||||||
| Total Direct Lending - Investment Funds | $ | 21,634,166 | $ | 20,958,167 | |||||||||
| Total Direct Lending | $ | 1,271,233,699 | $ | 1,269,182,014 | |||||||||
| Investments | Acquisition Date |
Cost24 | Fair Value | Footnotes | |||||||||
| Specialty Credit - Non-Controlled/Non-Affiliated Investments - 7.3% of NAV | |||||||||||||
| Investment Funds - 4.5% of NAV | 1,21 | ||||||||||||
| Europe - 1.0% of NAV | |||||||||||||
| Kartesia Credit Opportunities III SCA, SICAV-SIF - Class C | 12/31/2025 | $ | 450,230 | $ | 776,552 | 8,22,27 | |||||||
| Kartesia Credit Opportunities IV SCS - Class B | 12/31/2025 | 1,338,614 | 1,961,819 | 8,22,27 | |||||||||
| Kartesia Credit Opportunities IV SCS - Class C | 12/31/2025 | 6,141,430 | 7,849,411 | 8,22,27 | |||||||||
| Kartesia Credit Opportunities IV SCS - Class D | 12/31/2025 | 370,362 | 528,641 | 8,22,27 | |||||||||
| Total Specialty Credit - Investment Funds - Europe | $ | 8,300,636 | $ | 11,116,423 | |||||||||
| North America - 3.5% of NAV | |||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Acquisition Date |
Cost24 | Fair Value | Footnotes | |||||||||
| Specialty Credit - Non-Controlled/Non-Affiliated Investments - 7.3% of NAV | |||||||||||||
| Investment Funds - 4.5% of NAV | 1,21 | ||||||||||||
| North America - 3.5% of NAV | |||||||||||||
| Birch Holdings (Offshore) LP | 2/6/2026 | $ | 1,687,190 | $ | 2,151,068 | 8,22 | |||||||
| Blue Owl Opportunistic Lending Fund (Offshore) LP | 10/1/2025 | 7,212,328 | 8,648,132 | 6,8 | |||||||||
| Carlyle Santiago Aggregator, L.P. | 9/5/2024 | 2,731,431 | 2,886,344 | 6 | |||||||||
| Castlelake Consumer Receivables Opportunity III, L.P. | 6/26/2024 | 2,496,829 | 4,084,002 | 8,22 | |||||||||
| West Street Strategic Solutions Offshore Fund I, L.P. | 10/1/2025 | 6,717,186 | 7,290,893 | 8,22 | |||||||||
| Castlelake Consumer Receivables Opportunity IV, L.P. | 11/22/2024 | 2,753,265 | 3,252,664 | 8,22 | |||||||||
| Castlelake Consumer Receivables Opportunity V, L.P. | 10/13/2025 | 3,936,000 | 4,117,445 | 8,22 | |||||||||
| Pimlico Partners, L.P. | 12/16/2025 | 4,000,000 | 4,094,492 | 22 | |||||||||
| Total Specialty Credit - Investment Funds - North America | $ | 31,534,229 | $ | 36,525,040 | |||||||||
| Total Specialty Credit - Investment Funds | $ | 39,834,865 | $ | 47,641,463 | |||||||||
| Investments | Investment Type | Cash Interest Rate / PIK |
Reference Rate |
Spread | Maturity Date | Principal Amount |
Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Specialty Credit - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Private Lending - 2.8% of NAV | 1,2,3,4,6 | ||||||||||||||||||||||||||||
| North America - 2.8% of NAV | |||||||||||||||||||||||||||||
| AR3 LLC | First Lien Term Loan | 9.92 | % | 1M SOFR | 6.25 | % | 3/16/2027 | $ | 4,000,000 | $ | 4,036,208 | $ | 4,016,180 | 5,16 | |||||||||||||||
| SPC Jamboree Lender LLC | Revolver | 13.50 | % | 1M SOFR | 9.00 | % | 9/30/2030 | 4,000,000 | 2,510,558 | 2,510,559 | 5,8,17 | ||||||||||||||||||
| Circle City Broadcasting I, LLC | Term Loan | 6.00 | % | 3M SOFR | 6.00 | % | 3/31/2031 | 2,000,000 | 1,950,000 | 1,950,024 | 5,11 | ||||||||||||||||||
| CLGF Holdco 2, LLC | First Lien Term Loan | 12.50 | % | Fixed | 12.50 | % | 4/23/2030 | 8,330,000 | 8,219,028 | 8,324,634 | 23 | ||||||||||||||||||
| FTAI Infrastructure Inc. | First Lien Term Loan | 9.75 | % | Fixed | 9.75 | % | 2/1/2028 | 2,000,000 | 1,942,696 | 1,940,973 | 23 | ||||||||||||||||||
| Heights Financing I | Revolver | 13.29 | % | 1M SOFR | 10.00 | % | 10/31/2026 | 4,000,000 | 3,997,513 | 3,997,655 | 5,8 | ||||||||||||||||||
| Heights Financing II | Revolver | 12.17 | % | 1M SOFR | 9.50 | % | 10/31/2026 | 4,000,000 | 3,238,998 | 3,240,425 | 5,8,15 | ||||||||||||||||||
| Pipe Warehouse Trust II | Delayed Draw | 9.92 | % | 1M SOFR | 6.25 | % | 4/1/2027 | 4,000,000 | 1,271,550 | 1,263,015 | 5,8,15 | ||||||||||||||||||
| Portfolio Brands LLC | First Lien Term Loan | 10.67 | % | 1M SOFR | 7.00 | % | 1/28/2031 | 2,442,308 | 2,368,568 | 2,366,456 | 5,15 | ||||||||||||||||||
| Total Specialty Credit - Private Lending - North America | $ | 29,535,119 | $ | 29,609,921 | |||||||||||||||||||||||||
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| Investments | Investment Type | Cash Interest Rate / PIK |
Reference Rate |
Spread | Maturity Date | Principal Amount |
Cost24 | Fair Value | Footnotes | ||||||||||||||||||||
| Specialty Credit - Non-Controlled/Non-Affiliated Investments (continued) | |||||||||||||||||||||||||||||
| Private Lending - 2.8% of NAV | |||||||||||||||||||||||||||||
| North America - 2.8% of NAV | |||||||||||||||||||||||||||||
| Total Specialty Credit - Private Lending | $ | 29,535,119 | $ | 29,609,921 | |||||||||||||||||||||||||
| Total Specialty Credit | $ | 69,369,984 | $ | 77,251,384 | |||||||||||||||||||||||||
| Total Investments - 127.4% of NAV | $ | 1,340,603,683 | $ | 1,346,433,398 | |||||||||||||||||||||||||
| Liabilities in excess of other assets - (27.4)% of NAV | $ | (290,599,342 | ) | ||||||||||||||||||||||||||
| Net Assets - 100.0% | $ | 1,055,834,056 | |||||||||||||||||||||||||||
| 1 | Geographic region generally reflects the location of the investment manager for Investment Funds and Collateralized Loan Obligations or Warehouses and the company headquarters for other debt investments. |
| 2 | Fair value was determined using significant unobservable inputs. |
| 3 | Investment is generally subject to certain limitations on resale, and may be deemed to be “restricted securities” under the Securities Act of 1933, as amended Investment is a Level 3 asset unless otherwise indicated. |
| 4 | Senior secured debt investment. |
| 5 | Investments bear interest at rates that may be determined by reference to Secured Overnight Financing Rate (“SOFR”) or an alternative base rate (commonly based on the Federal Fund Rate or the U.S. Prime Rate ("PRIME")), which generally reset periodically. For each such investment, the Fund has provided the reference rate used and the spread and the current contractual interest rate in effect at March 31, 2026. The interest rate disclosed is based on the reference rate as of the last reset date which may differ from the reference rate as of March 31, 2026. As of March 31, 2026, effective rates for 1 Month SOFR, 3 Month SOFR, 6 Month SOFR and PRIME are 3.650%, 3.680%, 3.860% and 6.750%, respectively. For companies with multiple interest rate contracts, the interest rate shown is a weighted average current interest rate in effect as of March 31, 2026. Certain investments are subject to a SOFR floor and have been provided. |
| 6 | Income producing investment that pays all interest in cash. |
| 7 | Unfunded commitment Interest reflects the unfunded commitment fee rate. |
| 8 | Investment has an unfunded commitment balance For private credit investments, unamortized capitalized fees (see Note 2) reduce cost basis and may result in a negative cost A negative fair value may result from the unfunded commitment being valued below par The private credit investment may be subject to an unfunded commitment fee. |
| 9 | Interest rate on funded balance is subject to a floor of 0.50%. |
| 10 | Interest rate on funded balance is subject to a floor of 0.75%. |
| 11 | Interest rate on funded balance is subject to a floor of 1.00%. |
| 12 | Interest rate on funded balance is subject to a floor of 1.25%. |
| 13 | Interest rate on funded balance is subject to a floor of 1.50%. |
| 14 | Interest rate on funded balance is subject to a floor of 2.00%. |
| 15 | Interest rate on funded balance is subject to a floor of 3.00%. |
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
| 16 | Interest rate on funded balance is subject to a floor of 3.50%. |
| 17 | Interest rate on funded balance is subject to a floor of 4.50%. |
| 18 | Security is held by CRDEX LLC and designated as collateral for borrowings on the JPMorgan Chase Bank, N.A. credit facility. |
| 19 | Security is held by SSG Holdings LLC and designated as collateral for borrowings on the Bank of Montreal credit facility. |
| 20 | Investment does not pay cash interest. Principal includes accumulated payment in kind (“PIK”) interest, which is collected upon repayment. |
| 21 | Investment Funds typically do not permit redemptions or withdrawals, except at the discretion of their general partner, manager, or advisor. Final distribution dates are generally unknown unless specified. These funds are fair valued using net asset value as the practical expedient, unless otherwise noted, and are usually acquired through private placements with contractual resale restrictions that do not lapse. Each investment may have been purchased on different dates and for varying amounts. As of March 31, 2026, the total fair value of restricted investments was $68.6 million, representing 6.5% of net assets. The acquisition date of the first purchase is listed in the Consolidated Schedule of Investments. |
| 22 | Investment is non-income producing. |
| 23 | Interest rate is fixed. |
| 24 | For non-controlled, non-affiliated debt investments, cost represents amortized cost. |
| 25 | Position is an unfunded delayed draw term loan with no rate setting. |
| 26 | Investment has been committed to but has not been funded as of December 31, 2025. |
| 27 | This investment is denominated in EUR. Values are translated into U.S. dollars using the exchange rate in effect at the reporting date. |
StepStone Private Credit Income Fund
Consolidated Schedule of Investments (continued)
March 31, 2026
Derivative Instruments
Forward Foreign Currency Exchange Contracts
| Currency to be Sold | Counterparty | Settlement Date | Currency to be Purchased | Currency Amount to be Sold | Currency Amount to be Purchased | Unrealized Appreciation (Depreciation) | ||||||||||||
| Euro | State Street | April 30, 2026 | USD | 9,436,000 | $ | 10,821,101 | $ | (102,092 | ) | |||||||||
| Total Forward Foreign Currency Exchange Contracts | 9,436,000 | $ | 10,821,101 | $ | (102,092 | ) | ||||||||||||