NPORT-P false 0002021979 XXXXXXXX First Trust Enhanced Private Credit Fund 811-23963 0002021979 254900G48BG2P8MIDJ45 235 West Galena Street Milwaukee 53212 414-299-2270 First Trust Enhanced Private Credit Fund 254900G48BG2P8MIDJ45 2026-03-31 2025-12-31 N 80395827.530000000000 1364972.390000000000 79030855.140000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 199457.610000000000 EUR USD DKK GBP N Audax-Riccobene Co. DDTL Audax Private / N/A 999999999 226203.93 PA USD 225186.01 0.2849342951 Long LON CORP US N 3 2028-01-10 Variable 8.485640 N N N N N N AUDAX RICCOBENE TL / N/A 999999999 1310175.89 PA USD 1304280.10 1.6503428916 Long LON CORP US N 3 2027-11-12 Variable 8.4661 N N N N N N AUDAX SUMMIT SPINE REVOLVER / N/A 999999999 9328.36 PA USD 9375 0.0118624555 Long LON CORP US N 3 2028-03-18 Variable 8.9134 N N N N N N AUDAX SUMMIT SPINE TL / N/A 999999999 1025830.21 PA USD 1029420.62 1.3025553351 Long LON CORP US N 3 2028-03-18 Variable 8.9134 N N N N N N AUDAX Co.-INVEST TL / N/A 999999999 3284531.25 PA USD 3271393.13 4.1393872358 Long LON CORP US N 3 2026-10-28 Variable 9.0015 N N N N N N TCW ACCURAY PENNY PREMIUM WARRANTS / N/A 999999999 45576 NC USD 25682.12 0.0324963205 N/A DE CORP US N 3 N/A N/A Call Purchased TCW ACCURAY INC TL TCW ACCURAY INC TL 1 0.000000000000 USD 2028-12-31 XXXX 25682.12 N N N TCW ACCURAY PENNY PENNY WARRANTS / N/A 999999999 36461 NC USD 29701.13 0.0375816888 N/A DE CORP US N 3 N/A N/A Call Purchased TCW ACCURAY INC TL TCW ACCURAY INC TL 1 0.000000000000 USD 2028-12-31 XXXX 29701.13 N N N TCW ACCURAY PENNY SUPERPREMIUMWARRANTS / N/A 999999999 63807 NC USD 35157.78 0.0444861440 N/A DE CORP US N 3 N/A N/A Call Purchased TCW ACCURAY INC TL TCW ACCURAY INC TL 1 0.000000000000 USD 2028-12-31 XXXX 35157.78 N N N TCW ACCURAY PENNY PENNY WARRANTS / N/A 999999999 130157 NC USD 106025.89 0.1341575892 N/A DE CORP US N 3 N/A N/A Call Purchased TCW ACCURAY INC TL TCW ACCURAY INC TL 1 0.000000000000 USD 2028-12-31 XXXX -60890.87 N N N TCW ACCURAY PREMIUM PREMIUM WARRANTS / N/A 999999999 357931 NC USD 185178.47 0.2343116112 N/A DE CORP US N 3 N/A N/A Call Purchased TCW ACCURAY INC TL TCW ACCURAY INC TL 1 0.000000000000 USD 2028-12-31 XXXX -121177.76 N N N ARES CAPITAL 2023-1 SUBORDINATED NOTE / N/A 999999999 1074073.67 PA USD 1110446.97 1.4050802918 Long ABS-MBS CORP US N N/A 2033-07-11 None 0 N N N N N N ARTS SPV SRL VAR RT11/30/2041 / N/A 999999999 1500000 PA 1773116.70 2.2435752427 Long ABS-MBS CORP IT N 3 2041-11-30 Variable 10.65 N N N N N N FONTW 2020-1 Z VAR RATE 12/18/2028 / N/A BCC2QA9A4 713817.53 PA 1176793.48 1.4890304273 Long ABS-MBS CORP GB N 3 2028-12-18 Variable 14.1886 N N N N N N Mespil Securities N/A BCC341BD7 524129.4870 PA USD 389550.33 0.4929091673 Long ABS-CBDO CORP IE N 3 2031-12-08 Floating 15.360780 N N N N N N ST. LAWRENCE SRT USD CORP. 254900Q1AXE1IXAJJM39 999999999 1000000 PA USD 1004767 1.2713604050 Long ABS-CBDO CORP CA N 3 2033-05-25 Floating 13.69 N N N N N N SCH 1 B Mtge VAR RT 04/19/33 / N/A 999999999 1000000 PA USD 1065731 1.3484998968 Long ABS-MBS CORP US N 3 2033-04-19 Variable 14.634440 N N N N N N COLSS 2024-2 F Mtge VAR RT 05/22/2034 / N/A BCC3GBMB4 435912 PA 599218.30 0.7582080428 Long ABS-MBS CORP GB N 3 2034-05-22 None 14.95 N N N N N N Pymes Magdalena N/A BCC3JL3Y0 681569.76 PA 806549.58 1.0205502377 Long ABS-CBDO CORP ES N 3 2054-07-04 Floating 8.5380 N N N N N N SANTADER CONSUMER FINANCE24-1 12/25/34 / N/A BCC3JLXT8 6614980.9240 PA 721393.25 0.9127994993 Long ABS-MBS CORP SE N 3 2034-12-25 Variable 8.5040 N N N N N N Deutsche Bank AG N/A BCC3LQKC5 1500000 PA 1765243.86 2.2336135132 Long ABS-CBDO CORP DE N 3 2035-10-25 Floating 11.5650 N N N N N N Magdalena 9845005C1F6CC38CAA33 999999999 1800000 PA 2141638.27 2.7098761189 Long ABS-CBDO CORP ES N 3 2039-12-31 Floating 9.01 N N N N N N LEGO 2023-1 B VAR RT 6/25/2035 / N/A 999999999 19890000 PA 3139635.73 3.9726708315 Long ABS-MBS CORP DK N 3 2035-06-25 Variable 8.64 N N N N N N CANADIAN DOLLARS / N/A 999999999 630.37 OU Currency 459.25 0.0005811022 Long STIV CA N 1 N N N SWISS FRANC / N/A 999999999 2272.93 OU Currency 2869.50 0.0036308604 Long STIV CH N 1 N N N CCLF SPV LLC CLO EQUITY 4/29/34 / N/A 999999999 511300 PA USD 538251.23 0.6810646665 Long LON CORP US N N/A 2034-04-29 None 0 N N N N N N Fortress Credit Opportunities 254900TCFL84ON4RYM29 34964RAZ6 1500000 PA USD 1507599 1.9076081074 Long ABS-CBDO CORP US N 2 2036-10-15 Floating 11.904540 N N N N N N LLOYDS BANK PLC 12/16/2030 / N/A BCC3JSBN0 996998.98 PA 1351095.55 1.7095798187 Long ABS-MBS CORP GB N 3 2030-12-16 Variable 11.3246 N N N N N N LBBW LION-6 SNR 10/30/2036 / N/A BCC3JWDF6 1591570.60 PA 1884697.17 2.3847612008 Long ABS-MBS CORP XX N 3 2036-10-30 Variable 9.7240 N N N N N N GRANVILLE USD Ltd. VAR RT 02/15/2030 / N/A BCC3KJ828 2000000 PA USD 1978310 2.5032121903 Long ABS-MBS CORP US N 3 2030-02-15 Variable 10.21 N N N N N N GREGORY SPV SRL VAR RT12/30/2045 / N/A BCC3LJFB9 1469580 PA 1730313.44 2.1894150543 Long ABS-MBS CORP XX N 3 2045-12-30 Variable 9.7660 N N N N N N GBP FWD CONTRACT 02/13/2026 / N/A 999999999 417666 OU Currency 562929.11 0.7122902935 N/A DFE GB N 2 BNP Paribas Securities N/A 560883.67 USD 417666 GBP 2026-02-13 2045.44 N N N GBP FWD CONTRACT 02/13/2026 / N/A 999999999 -1133000 OU Currency -1527054.34 -1.9322255052 N/A DFE GB N 2 BNP Paribas Securities N/A 1133000 GBP 1488410.77 USD 2026-02-13 -38643.57 N N N GBP FORWARD CONTRACT 3/13/2026 / N/A 999999999 -715333 OU Currency -964024.27 -1.2198074642 N/A DFE GB N 2 BNP Paribas Securities N/A 715333 GBP 960334.55 USD 2026-03-13 -3689.72 N N N GBP FWD CONTRACT 01/15/2026 / N/A 999999999 297666 OU Currency 401221.19 0.5076766401 N/A DFE GB N 2 BNP Paribas Securities N/A 399765.44 USD 297666 GBP 2026-01-15 1455.75 N N N GBP FWD CONTRACT 01/15/2026 / N/A 999999999 -1055000 OU Currency -1422024.53 -1.7993282845 N/A DFE GB N 2 BNP Paribas Securities N/A 1055000 GBP 1401630.80 USD 2026-01-15 -20393.73 N N N LEONARD VALVE TERM LOAN 09/30/2027 / N/A 999999999 987500 PA USD 987500 1.2495119764 Long LON CORP US N 3 2027-09-30 Variable 9.185580 N N N N N N APOGEM MCF CLO 12 CLO / N/A 999999999 2382527.27 PA USD 2717034.10 3.4379409095 Long ABS-MBS CORP US N 3 2028-02-24 None 0 N N N N N N MSILF Government Portfolio 549300BI6Y5SI6BYPB26 61747C707 190000 PA USD 190000 0.2404124309 Long STIV RF US N 1 N N N NXT CAPITAL CLO 2026-1 CLO EQUITY / N/A 999999999 1673714.29 PA USD 1830541.32 2.3162362558 Long ABS-MBS CORP US N 3 2028-06-24 None 0 N N N N N N SEK FORWARD CONTRACT 01/15/26 / N/A 999999999 726000 OU Currency 78922.06 0.0998623384 N/A DFE SE N 2 BNP Paribas Securities N/A 78737.60 USD 726000 SEK 2026-01-15 184.46 N N N SEK FORWARD CONTRACT 02/13/2026 / N/A 999999999 1793000 OU Currency 195199.65 0.2469916967 N/A DFE SE N 2 BNP Paribas Securities N/A 194753.71 USD 1793000 SEK 2026-02-13 445.94 N N N SEK FORWARD CONTRACT 02/13/2026 / N/A 999999999 -4312000 OU Currency -469437.20 -0.5939923074 N/A DFE SE N 2 BNP Paribas Securities N/A 4312000 SEK 458542.91 USD 2026-02-13 -10894.29 N N N SEK FORWARD CONTRACT 03/13/26 / N/A 999999999 -2519000 OU Currency -274664.19 -0.3475404505 N/A DFE SE N 2 BNP Paribas Securities N/A 2519000 SEK 273953.24 USD 2026-03-13 -710.95 N N N SWEDISH KRONA / N/A 999999999 1106781.58 OU Currency 120217.41 0.1521145251 Long STIV SE N 1 N N N SEK FORWARD AKSIAPUB CONTRACT 1/15/2026 / N/A 999999999 -3245000 OU Currency -352757.67 -0.4463543630 N/A DFE SE N 2 BNP Paribas Securities N/A 3245000 SEK 342686.37 USD 2026-01-15 -10071.30 N N N UMB MONEY MARKET II SPECIAL / N/A SF8888628 483528.87 PA USD 483528.87 0.6118229002 Long STIV CORP US N 1 N N N TCW Accuray DDTL / N/A 999999999 416666.70 PA USD 416232.60 0.5266710062 Long LON CORP US N 3 2030-06-05 None 0 N N N N N N TCW ACCURAY, Inc. TL / N/A 999999999 2582330.21 PA USD 2024809.74 2.5620496405 Long LON CORP US N 3 2030-06-05 Variable 14.524650 N N N N N N TCW Co.-Invest TL CONNECT AMERICA / N/A 999999999 1987500 PA USD 1945762.50 2.4620289083 Long LON CORP US N 3 2028-12-31 Variable 9.7515 N N N N N N WHWK DIP A2 INT DIP 12/31/2026 / N/A 999999999 428333.5240 PA USD 428333.52 0.5419826462 Long LON CORP US N 3 2026-12-31 Variable 10.50 N N N N N N WHITEHAWK C3 FINANCE TERM LOAN 04/22/2027 / N/A 999999999 1400000 PA USD 1421000 1.7980319174 Long LON CORP US N 3 2027-04-22 Variable 12 N N N N N N WHITEHAWK CATALYST TERM LOAN / N/A 999999999 8000000 PA USD 8000000 10.1226286693 Long LON CORP US N 3 2030-09-17 Variable 12.109020 N N N N N N WHITEHAWK NEPH TERM LOAN / N/A 999999999 4923076.92 PA USD 4898461.54 6.1981634025 Long LON CORP US N 3 2028-01-31 Variable 13.490580 N N N N N N WHITEHAWK SHRYNE TERM LOAN / N/A 999999999 7382812.50 PA USD 7382812.50 9.3416836841 Long LON CORP US N 3 2026-05-26 Variable 15.356530 N N N N N N WHITEHAWK WEST SIDE TERM LOAN 09/03/2027 / N/A 999999999 2994101.98 PA USD 3143807.08 3.9779489598 Long LON CORP US N 3 2027-09-03 Variable 13 N N N N N N DOREL INDUST CL B WARRANTS 09/30/2032 / N/A 999999999 27813 NC 29989.25 0.0379462552 Long DE CORP CA N 3 N/A N/A Call Purchased DOREL INDUST CL B WARRANTS 09/30/2032 / DOREL INDUST CL B WARRANTS 09/30/2032 / 1 0.010000000000 CAD 2032-09-29 XXXX -1815.30 N N N DANISH KRONE / N/A 999999999 427291.52 OU Currency 67229.66 0.0850676105 Long STIV DK N 1 N N N EUR FORWARD CONTRACT 01/15/26 / N/A 999999999 611666 OU Currency 719365.86 0.9102341848 N/A DFE XX N 2 BNP Paribas Securities N/A 720787.21 USD 611666 EUR 2026-01-15 -1421.35 N N N EUR FORWARD CONTRACT 01/15/26 / N/A 999999999 -4348000 OU Currency -5113579.56 -6.4703583821 N/A DFE XX N 2 BNP Paribas Securities N/A 4348000 EUR 5055202.20 USD 2026-01-15 -58377.36 N N N EUR FWD CONTRACT 03/13/2026 / N/A 999999999 -3736333 OU Currency -4405990.72 -5.5750259974 N/A DFE XX N 2 Manual N/A 3736333 EUR 4414477.44 USD 2026-03-13 8486.72 N N N EURO FORWARD CONTRACT 2/13/26 / N/A 999999999 364666 OU Currency 429431.08 0.5433714202 N/A DFE XX N 2 BNP Paribas Securities N/A 430305.88 USD 364666 EUR 2026-02-13 -874.80 N N N EURO FORWARD CONTRACT 2/13/26 / N/A 999999999 -4101000 OU Currency -4829342.05 -6.1107045362 N/A DFE XX N 2 BNP Paribas Securities N/A 4101000 EUR 4776475.71 USD 2026-02-13 -52866.34 N N N FORTRESS BYOMA TL / N/A 999999999 3000000 PA USD 2940000 3.7200660360 Long LON CORP US N 3 2027-11-17 Variable 9.811990 N N N N N N FORTRESS CREDIT OPP XXVII CLO EQUITY / N/A 999999999 2456800 PA USD 2750633.28 3.4804549124 Long ABS-MBS CORP US N 3 2035-01-28 None 0 N N N N N N TCW IPSEN TL LLC / N/A 999999999 2064790.60 PA USD 2002811.55 2.5342147019 Long LON CORP US N 3 2029-07-31 Variable 14.665720 N N N N N N TCW KICHLER LIGHTING / N/A 999999999 2472220.58 PA USD 2412725.85 3.0528909825 Long LON CORP US N 3 2029-09-18 Variable 13.869960 N N N N N N TCW DOREL TERM LOAN / N/A 999999999 2000000 PA USD 1875867 2.3735881343 Long LON CORP US N 3 2030-09-29 Fixed 12.188990 N N N N N N WHWK DIP A1 INT DIP 12/31/2026 / N/A 999999999 349332.0270 PA USD 349332.03 0.4420198027 Long LON CORP US N 3 2026-12-31 Variable 10.50 N N N N N N 2026-02-22 First Trust Enhanced Private Credit Fund /s/ Michael D. Peck Michael D. Peck President XXXX