Eagle Point Defensive Income Trust
Data through 2026-03-31 · latest filing 424B3 filed 2026-07-24
Sponsored by Eagle Point. Interval Fund structure focused on private credit.
Interval FundPrivate Credit
- Net assets
- $121.4M
source
Monthly portfolio report (Form N-PORT) · filed 2026-05-29 · period 2026-03-31
Net assets (N-PORT Part B, Item B.2)
Method Direct: read from a structured filing field
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- Not yet compiled Not yet compiled
- Net flows, last qtr
- +0.0% qtr ended 2026-03-31
- Distribution coverage (NII)
- Not yet compiled Not yet compiled
- Leverage in use
- Not yet compiled Not yet compiled
- Total return, 12m
- Not yet compiled Not yet compiled
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
SI Tickets, Inc. was newly flagged interest payments in arrears in the March 31, 2026 N-PORT: 3.27% of portfolio value ($3,971,474). (2026-03-31)
SI Tickets, Inc. was newly flagged interest payments in arrears in the March 31, 2026 N-PORT: 3.27% of portfolio value ($3,971,474). The December 31, 2025 report carried no flag.
Why it matters and what changed
The fund's own filing flags a portfolio investment as in default or non-accrual. This is a named credit failure inside the book, and the disclosed size tells you whether it dents NAV or merely trims income.
Position size in the filing: 3.27% of portfolio value.
Source: nport-diff:2026-03-31:flag:si tickets, inc.
D1 crossed its monitoring threshold for the period ended 2026-03-31.
D1 crossed its monitoring threshold for the period ended 2026-03-31.
Why it matters and what changed
New defaults and write-downs across the current and prior reporting period add up to 1% or more of the portfolio, whatever any single position's size.
current level $17.03 (no prior-period value stored)
Source: nport-diff:2026-03-31:flag:heritage energy holdings, llc
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Filed performance history
Not yet compiled. no cached SEC filing yielded a return with an exact window, basis label, and the audited class scope
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
| Date | Position change |
|---|---|
| 2026-03-31 | Heritage Energy Holdings, LLC was newly flagged interest payments in arrears in the March 31, 2026 N-PORT: 1.00% of portfolio value ($1,215,051). The December 31, 2025 report carried no flag. |
| 2026-03-31 | Integrated Modular Data Centers, LLC was newly flagged interest payments in arrears in the March 31, 2026 N-PORT: 1.63% of portfolio value ($1,979,615). The December 31, 2025 report carried no flag. |
| 2026-03-31 | Nexus Apex Holdings, LLC was newly flagged interest payments in arrears in the March 31, 2026 N-PORT: 8.65% of portfolio value ($10,504,424). The December 31, 2025 report carried no flag. |
| 2026-03-31 | Pasadena Private Lending, Inc. was newly flagged interest payments in arrears in the March 31, 2026 N-PORT: 2.48% of portfolio value ($3,012,808). The December 31, 2025 report carried no flag. |
| 2026-03-31 | SI Tickets, Inc. was newly flagged interest payments in arrears in the March 31, 2026 N-PORT: 3.27% of portfolio value ($3,971,474). The December 31, 2025 report carried no flag. |
| 2026-03-31 | Carlyle Credit Income Fund (1.3% of portfolio value in the 2025-12-31 report, $1,519,563) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Claros Mortgage Trust Inc. (1.7% of portfolio value in the 2025-12-31 report, $1,958,968) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | NB Blueprint 2025 LLC was marked up 62% between the December 31, 2025 and March 31, 2026 reports ($1,233,307 to $1,998,069) with par unchanged: a valuation mark, not a sale. |
| 2026-03-31 | New position Galway Sustainable Capital, Inc.: 1.4% of portfolio value ($1,650,676) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2026-03-31 | New position PILATUS CFO 1 LLC: 2.9% of portfolio value ($3,550,000) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2025-12-31 | Braemar Hotels & Resorts Inc (1.5% of portfolio value in the 2025-09-30 report, $1,733,550) is absent from the 2025-12-31 report -- realized, sold, or restructured under a different name. |
| 2025-12-31 | Granite Point Mortgage Trust Inc (4.6% of portfolio value in the 2025-09-30 report, $5,207,228) is absent from the 2025-12-31 report -- realized, sold, or restructured under a different name. |
Where exit demand met the cap.
Early Withdrawal Charge Class C Shares that have been held less than one year (365 days) following the initial purchase will be subject to an early withdrawal charge of 1.00% of the original purchase price. The early withdrawal charge will not be assessed on the repurchase of Class C Shares upon the death or disability of a Shareholder. Documentation will be required, and some limitations may apply. Shareholder Transaction Expenses: | Class A Shares | Class C Shares | Class I Shares | Class S Shares Sales load ( as a percentage of the offering price ) (1) | 5.75 | % (2) | None | None | 3.50 | % (3) Maximum Early Withdrawal Charge (as a percent of original purchase price) (4) | None | 1.00 | % | None | 1.00 | % Distribution reinvestment plan fees (5) | None | None | None | None Annual Fund Expenses (as a percentage of net assets attributable to Shares): Base management fee | 2.05 | % (6) | 2.05 | % (6) | 2.05 | % (6) | 2.05 | % (6) Incentive fees | 1.50 | % (7) | 1.50 | % (7) | 1.50 | % (7) | 1.50 | % (7) Interest payments on borrowed funds (8) | 2.82 | % | 2.82 | % | 2.82 | % | 2.82 | % Other expenses | 1.90 | % (9) | 2.65 | % (9) | 1.65 | % (9) | 2.50 | % (9) Shareholder Servicing Fees | 0.25 | % | 0.25 | % | None | 0.25 | % Distribution Fee | None | 0.75 | % | None | 0.60 | % Remaining Other Expenses | 1.65 | % | 1.65 | % | 1.65 | % | 1.65 | % Total annual expenses | 8.27 | % | 9.02 | % | 8.02 | % | 8.87 | %
Not yet compiled
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
Not yet compiled
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Who can invest: No investor qualification is stated in the prospectus. 486BPOS filed 2026-01-28.
Not attributed 100.0%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Class A | Sales-load class for transactional brokerage distribution. | 5.75% | 25 bps | $2,500 | - |
| Class C | Servicing-fee class for brokerage or platform distribution. | 0.00% | 25 bps | $2,500 | - |
| Class I | - | 0.00% | 0 bps | $2,500 | - |
| Class S | Sales-load class for transactional brokerage distribution. | 3.50% | 25 bps | $2,500 | - |
Management fee: 1.50% of average daily managed assets per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001104659-26-086647.
Filed fee conditions
Base management fee. The base management fee is calculated daily and payable quarterly in arrears and equals an annual rate of 1.50% of our Managed Assets. The base management fee is calculated based on our average daily Managed Assets. In addition, the base management fee for any partial calculation period is pro-rated (based on the number of days actually elapsed at the end of such calculation period relative to the total number of days in such calculation period). "Managed Assets" means the Fund's total assets (including assets attributable to the Fund's use of leverage) minus the sum of the Fund's accrued liabilities (other than liabilities incurred for the purpose of creating leverage).
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Class I | 1.50% | 15% of income, 7.5% hurdle
*
incentive fee: 15.00% of Pre-Incentive Fee Net Investment Income attributable to each class of Shares (each class of the Fund's Shares); Quarterly hurdle of 1.875% of the class's NAV, printed as 7.5% annualized, with a catch-up to 2.20588% per quarter. No incentive fee is payable on capital gains and no high water mark is stated. SEC source 0001104659-26-086647 |
0.00% | 0 bps | - | - |
| Fee component | Rate | Basis / class | Condition |
|---|---|---|---|
| Performance · incentive fee | 15.00% | Pre-Incentive Fee Net Investment Income attributable to each class of Shares each class of the Fund's Shares | Quarterly hurdle of 1.875% of the class's NAV, printed as 7.5% annualized, with a catch-up to 2.20588% per quarter. No incentive fee is payable on capital gains and no high water mark is stated.* |
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (8)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | Base management fee. The base management fee is calculated daily and payable quarterly in arrears and equals an annual rate of 1.50% of our Managed Assets. The base management fee is calculated based on our average daily Managed Assets. In addition, the base management fee for any partial calculation period is pro-rated (based on the number of days actually elapsed at the end of such calculation period relative to the total number of days in such calculation period). "Managed Assets" means the Fund's total assets (including assets attributable to the Fund's use of leverage) minus the sum of the Fund's accrued liabilities (other than liabilities incurred for the purpose of creating leverage). | 1.5 pct annual of average daily managed assets | - |
| expense_limitation | The Adviser has entered into an Expense Limitation and Reimbursement Agreement (the "Expense Limitation Agreement") with the Fund. Through the Expense Limitation Agreement, which shall continue in existence unless terminated pursuant to the terms thereof, the Adviser or an affiliate may provide expense support to the Fund in order to reduce operating expenses borne by shareholders, to the extent that it deems appropriate. Expense support payments can be made in the form of paying expenses directly, reimbursing the Fund for expenses incurred and paid, or waiving a portion of or all fees due by the Fund to the Adviser or an affiliate during each quarterly calculation period. For so long as the Expense Limitation Agreement remains in effect, the Adviser or any affiliate of the Adviser may provide expense support to the Fund in order to reduce the operating expenses borne by the Fund's shareholders, to the extent the Fund's base investment advisory fees (excluding incentive fees) incurred in connection with the Investment Advisory Agreement and ordinary operating expenses (excluding, for the avoidance of doubt, organizational expenses, offering expenses, dividends and/or interest payable on preferred shares and/or indebtedness, and distribution and/or shareholder servicing fees) exceed 6.00% per annum of the Fund's average net assets, as measured at the end of each fiscal quarter (the "Expense Cap") (each, an "Expense" and any payment of an Expense an "Expense Limitation Payment" or "Reimbursement," as applicable). Any Expense Limitation Payment or waiver is subject to Reimbursement by the Fund for three years after the date on which such Expense Limitation Payment or waiver was made. Reimbursement can only be made if the Fund is able to make the Reimbursement without exceeding the Expense Cap at the time of such Reimbursement or the Expense Cap in place at the time of the Expense Limitation Payment or waiver (whichever is lower). | 6.0 pct annual of average net assets excluding specified expenses | - |
| fee_waiver | During the fiscal year ended September 30, 2025, the Fund incurred base management and incentive fees of $0.6 million and $0.4 million, respectively, all of which was voluntarily waived by the Adviser and is not subject to recoupment under the Expense Limitation Agreement. | Text disclosure | - |
| fund_inception_date | 2024-07-29 | Text disclosure | 2024-07-29 |
| incentive_fee_schedule | Incentive fee. We pay the Adviser an incentive fee based on our performance. The incentive fee is payable quarterly in arrears and equals 15% of our "Pre-Incentive Fee Net Investment Income" attributable to each class of the Fund's Shares for the immediately preceding quarter, subject to a hurdle and a "catch up" feature. No incentive fees are payable to our investment adviser in respect of any capital gains. For this purpose, "Pre-Incentive Fee Net Investment Income" means (a) interest income, dividend income and any other income (including any other fees, such as commitment, origination, structuring, diligence and consulting fees) applicable to each class accrued during the calendar quarter, minus (b) each class's operating expenses for the quarter (including the base management fee, expenses payable under the Administration Agreement to Eagle Point Administration, and any interest expense and/or dividends paid on any issued and outstanding debt or preferred shares, but excluding organizational and permissible offering expenses and the incentive fee) after giving application to the Expense Limitation Agreement. Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as OID, debt instruments PIK interest and zero-coupon securities), accrued income applicable to each class that we have not yet received in cash. The Adviser is not obligated to return the Incentive Fee based on income it receives on deferred interest that is later determined to be uncollectible in cash. Pre-Incentive Fee Net Investment Income does not include any capital gains or losses. Pre-Incentive Fee Net Investment Income, expressed as a rate of return on the value of each class's net assets at the end of the immediately preceding calendar quarter, is compared to a hurdle of 1.875% (7.5% annualized) of the applicable class's NAV per quarter. no incentive fee in any calendar quarter in which the applicable Pre-Incentive Fee Net Investment Income attributable to the applicable share class does not exceed the hurdle of 1.875% (7.5% annualized) of such class's NAV; ● 100% of the Pre-Incentive Fee Net Investment Income attributable to the applicable share class with respect to that portion of such Pre-Incentive Fee Net Investment Income, if any, that exceeds the hurdle but is less than 2.20588% (8.82353% annualized) of such class's NAV in any calendar quarter. We refer to this portion of the Pre-Incentive Fee Net Investment Income (which exceeds the hurdle but is less than 2.20588% (8.82353% annualized) of the applicable class's NAV) as the "catch-up." The "catch-up" is meant to provide the Adviser with 15% of the applicable class's Pre-Incentive Fee Net Investment Income as if a hurdle did not apply if this net investment income meets or exceeds 2.20588% (8.82353% annualized) of such class's NAV in any calendar quarter; and ● 15% of the amount of the Pre-Incentive Fee Net Investment Income attributable to the applicable share class, if any, that exceeds 2.20588% (8.82353% annualized) of such class's NAV in any calendar quarter is payable to the Adviser (that is, once the hurdle is reached and the catch-up is achieved, 15% of all Pre-Incentive Fee Net Investment Income thereafter is paid to the Adviser). | 15.0 pct of quarterly pre incentive fee net investment income per class | - |
| leverage_ceiling | With respect to senior securities representing indebtedness (i.e., borrowing or deemed borrowing, including borrowings under the CNB Credit Facility (defined below)), other than temporary borrowings as defined under the 1940 Act, we are required under current law to have an asset coverage of at least 300%, as measured at the time of borrowing and calculated as the ratio of our total assets (less all liabilities and indebtedness not represented by senior securities) over the aggregate amount of our outstanding senior securities representing indebtedness. With respect to senior securities that are equity (i.e. preferred shares, including the Preferred Shares (defined below)), we are required under current law to have an asset coverage of at least 200%, as measured at the time of the issuance of any such preferred shares and calculated as the ratio of our total assets (less all liabilities and indebtedness not represented by senior securities) over the aggregate amount of our outstanding senior securities representing indebtedness plus the aggregate liquidation preference of any outstanding preferred shares. | 300.0 asset coverage | - |
| lockup_or_early_repurchase_fee | Early Withdrawal Charge Class C Shares that have been held less than one year (365 days) following the initial purchase will be subject to an early withdrawal charge of 1.00% of the original purchase price. The early withdrawal charge will not be assessed on the repurchase of Class C Shares upon the death or disability of a Shareholder. Documentation will be required, and some limitations may apply. Shareholder Transaction Expenses: | Class A Shares | Class C Shares | Class I Shares | Class S Shares Sales load ( as a percentage of the offering price ) (1) | 5.75 | % (2) | None | None | 3.50 | % (3) Maximum Early Withdrawal Charge (as a percent of original purchase price) (4) | None | 1.00 | % | None | 1.00 | % Distribution reinvestment plan fees (5) | None | None | None | None Annual Fund Expenses (as a percentage of net assets attributable to Shares): Base management fee | 2.05 | % (6) | 2.05 | % (6) | 2.05 | % (6) | 2.05 | % (6) Incentive fees | 1.50 | % (7) | 1.50 | % (7) | 1.50 | % (7) | 1.50 | % (7) Interest payments on borrowed funds (8) | 2.82 | % | 2.82 | % | 2.82 | % | 2.82 | % Other expenses | 1.90 | % (9) | 2.65 | % (9) | 1.65 | % (9) | 2.50 | % (9) Shareholder Servicing Fees | 0.25 | % | 0.25 | % | None | 0.25 | % Distribution Fee | None | 0.75 | % | None | 0.60 | % Remaining Other Expenses | 1.65 | % | 1.65 | % | 1.65 | % | 1.65 | % Total annual expenses | 8.27 | % | 9.02 | % | 8.02 | % | 8.87 | % | 1.0 pct of original purchase price within 365 days | - |
| repurchase_program_terms | To provide Shareholders with limited liquidity, the Fund is structured as an "interval fund" and intends to conduct quarterly offers to repurchase between 5% and 25% of its outstanding Shares at NAV, pursuant to Rule 23c-3 under the 1940 Act, unless such offer is suspended or postponed in accordance with regulatory requirements (as discussed below). In connection with any given repurchase offer, it is expected that the Fund will offer to repurchase the minimum amount of 5% of its outstanding Shares. The offer to purchase Shares on a quarterly basis is a fundamental policy that may not be changed without the vote of the holders of a majority of the Fund's outstanding voting securities (as defined in the 1940 Act). The Repurchase Offer Notice is sent to Shareholders at least 21 calendar days and no more than 42 calendar days before the Repurchase Request Deadline. The Fund expects to determine the NAV applicable to repurchases no later than the Repurchase Pricing Date. The Fund will distribute payment to Shareholders no later than seven calendar days after the Repurchase Pricing Date. The quarterly repurchases will commence in the months of March, June, September and December The Repurchase Offer Amount, however, will be no less than 5% and no more than 25% of the total number of Shares outstanding on the Repurchase Request Deadline. If Shareholders tender for repurchase more than the Repurchase Offer Amount for a given repurchase offer, the Fund may, but is not required to, repurchase an additional number of Shares not to exceed 2% of the outstanding Shares of the Fund on the Repurchase Request Deadline. If the Fund determines not to repurchase more than the Repurchase Offer Amount, or if Shareholders tender Shares in an amount exceeding the Repurchase Offer Amount plus 2% of the outstanding Shares on the Repurchase Request Deadline, the Fund will repurchase the Shares on a pro rata basis. | 5.0 pct of outstanding shares per quarter minimum | - |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-07-24 | 424B3 | 0001104659-26-086647 |
| 2026-06-08 | N-CSRS | 0001104659-26-071257 |
| 2026-06-08 | N-23C3A | 0001104659-26-071302 |
| 2026-05-29 | NPORT-P | 0001104659-26-068258 |
| 2026-03-06 | N-23C3A | 0001104659-26-024655 |
| 2026-02-27 | NPORT-P | 0001049169-26-000674 |
| 2025-12-08 | N-23C3A | 0001104659-25-119277 |
| 2025-11-28 | NPORT-P | 0001049169-25-000973 |
| 2025-11-28 | N-CSR | 0001999371-25-018946 |
| 2025-05-21 | N-CSRS | 0001999371-25-006480 |
| 2024-11-27 | N-CSR | 0001999371-24-015073 |