Private Credit

Denali Structured Return Strategy Fund

Formation2023

CategoryInterval Fund

SEC Filing ↗

Net Assets

$125.5M

NAV YoY

+153%

Portfolio Composition

Strategy

Private Investment Vehicles

33.80%

Loans

40.30%

Loan Participation

5.30%

Profit Share Interest

5.30%

Public Securities

4.10%

Money Market Instruments

8.70%

Purchased Options

3.40%

Portfolio composition data sourced from regulatory filings.

Deeper Analysis

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Reported as of September 2025

Principal Portfolio Holdings

Holding	Value	Allocation
Parabilis Note	$11.9M	9.46%
HFSA LLC Consumer Lending	$11.0M	8.78%
Coromandel LS LLC - Funding Account Asset Backed Lending	$9.7M	7.75%
Proprietary Exposure	---	---
Proprietary Exposure	---	---

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About This Fund

The Denali Structured Return Strategy Fund is a continuously offered, non-diversified closed-end interval fund managed by Liquid Strategies, LLC. It invests primarily in income-generating debt securities across small-to-middle market businesses, specialty finance companies, and public and private funds, while allocating a modest portion to call option spreads on the S&P 500® Index. The fund offers quarterly repurchase opportunities and targets primarily income with secondary capital appreciation through its structured return approach.