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Portfolio
HLEND seeks to build a diversified portfolio of senior secured private credit investments in resilient, market-leading, upper-middle market companies that operate primarily in non-cyclical sectors.
Data as of April 30, 2026
$24.8B
Investments at Fair Value
9.3%
Portfolio Yield at Fair Value1
94%
Private Investments2
95%
First Lien Exposure3
99%
Floating Rate4
$251M
Weighted Average EBITDA5
Portfolio Companies89
|
Company Name
|
Industry
|
Investment Type
|
Reference Rate & Spread11
|
Par Amount (thousands)
|
Amortized Cost (thousands)
|
Fair Value (thousands)
|
% of Total Portfolio
|
|---|---|---|---|---|---|---|---|
| Artemis Bidco Limited (Away Resorts) | Hotels, Restaurants & Leisure | 1st Lien Senior Secured Debt | SN + 6.75% | £1,465 | 92 | 95 | 0.00% |
| Artemis Bidco Limited (Away Resorts) | Hotels, Restaurants & Leisure | 1st Lien Senior Secured Debt | SN +6.75% PIK | £871 | 1,063 | 1,186 | 0.00% |
| Aspen Dental Management Inc. (ADMI Corp) (Aspen Dental Management Inc.) | Health Care Providers & Services | 1st Lien Senior Secured Debt | S + 5.75% | $843 | 847 | 799 | 0.00% |
| Auditboard, Inc. | Software | 1st Lien Senior Secured Debt | S + 4.75% | $30,286 | (225) | (623) | 0.00% |
| Birdie Bidco, Inc. (Concert Golf Partners) | Hotels, Restaurants & Leisure | 1st Lien Senior Secured Debt | P + 3.50% | $18,850 | (88) | (132) | 0.00% |
| Chartis Group LLC (The Chartis Group, LLC) | Professional Services | 1st Lien Senior Secured Debt | S + 4.50% | $14,716 | (112) | - | 0.00% |
| EPFS Buyer, Inc. (Elevate Patient Financial Solutions Inc) | Health Care Providers & Services | 1st Lien Senior Secured Debt | P + 3.50% | $3,814 | (33) | - | 0.00% |
| FC Compassus LLC (Compassus) | Health Care Providers & Services | 1st Lien Senior Secured Debt | S + 5.50% | $19,127 | (219) | (158) | 0.00% |
| FC Compassus LLC (Compassus) | Health Care Providers & Services | 1st Lien Senior Secured Debt | S + 6.99% (incl 2.07% PIK) | $128 | 13 | 13 | 0.00% |
| Global Music Rights, LLC | Entertainment | 1st Lien Senior Secured Debt | S + 4.75% | $46,796 | (377) | - | 0.00% |
| NE SPV Holdco, LLC (New Era Technology, Inc.) | IT Services | Equity and other investments | $7 | - | - | 0.00% | |
| NRO Holdings III Corp. (Nations Roof) | Construction & Engineering | 1st Lien Senior Secured Debt | S + 5.25% | $989 | 836 | 852 | 0.00% |
| Netrisk Group Luxco 4 S.A.R.L. (Netrisk) | Insurance | 1st Lien Senior Secured Debt | E + 5.25% (incl 2.39% PIK) | € 6,694 | (104) | 76 | 0.00% |
| Nexus Intermediate III, LLC (Vortex Industries) | Building Products | 1st Lien Senior Secured Debt | S + 4.75% | $1,038 | 1,045 | 1,024 | 0.00% |
| Omega II AB (Fortnox AB) | Software | 1st Lien Senior Secured Debt | ST + 4.75% | SEK 255,591 | (124) | 277 | 0.00% |
| Puma Buyer LLC (Pantherx Rare) | Consumer Staples Distribution & Retail | 1st Lien Senior Secured Debt | S + 4.50% | $15,248 | (87) | (170) | 0.00% |
| SWF Holdings I Corp (Springs Window) | Building Products | 1st Lien Senior Secured Debt | S + 4.50% | $167 | 163 | 166 | 0.00% |
| SWF Holdings I Corp (Springs Window) | Building Products | 1st Lien Senior Secured Debt | S + 4.00% | $667 | 640 | 392 | 0.00% |
| Saber Parent Holdings Corp (Service Logic LLC) | Building Products | 1st Lien Senior Secured Debt | P + 3.50% | $15,205 | (72) | (177) | 0.00% |
| Solis Bidco (Softway Medical SA) | Software | 1st Lien Senior Secured Debt | E + 5.00% (incl 2.25% PIK) | € 11,500 | (193) | (337) | 0.00% |
| Spruce Bidco II Inc (Vantive) | Health Care Equipment & Supplies | 1st Lien Senior Secured Debt | S + 6.24% | $946 | 934 | 937 | 0.00% |
| Stack Sports Buyer, LLC | Software | 1st Lien Senior Secured Debt | S + 5.25% | $50,858 | (665) | (868) | 0.00% |
| The ONE Group Hospitality, Inc. (The One Group, LLC) | Hotels, Restaurants & Leisure | Equity and other investments | $19 | 73 | 20 | 0.00% | |
| The ONE Group Hospitality, Inc. (The One Group, LLC) | Hotels, Restaurants & Leisure | Preferred Equity | 13.00% Preferred Return | $1,000 | 877 | 1,067 | 0.00% |
| Thrasio Holdings, Inc. (Thras IO Inc) | Broadline Retail | Equity and other investments | $19 | 0 | - | 0.00% |
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Footnotes
- Computed as (a) the annual stated interest rate or yield plus the annual accretion of discounts and less any annual amortization of premiums, as applicable, on accruing (i) debt and (ii) other income producing securities, divided by (b) total accruing (i) debt and (ii) other income producing securities (at fair value). Actual yields earned over the life of each investment could differ materially from the yields presented above. Please refer to HLEND’s prospectus and filings, including Form 10-Q or Form 10-K for fair value disclosures.
- Private Investments represents level 3 investments in the investment portfolio where inputs to the valuation methodology are unobservable and significant to overall fair value measurement. Private investments includes investments in joint ventures.
- Based on the aggregate fair value of the investment portfolio as of April 30, 2026.
- Percentage based on aggregate fair value of performing debt and other income producing securities (excluding investments in joint ventures).
- Calculated with respect to all level 3 investments (or, with respect to weighted average loan to value, all level 3 debt investments) in the investment portfolio for which fair value is determined by the Investment Adviser (in its capacity as the investment adviser of HLEND, with assistance, at least quarterly, from a third-party valuation firm, and overseen by HLEND’s Board of Trustees), and excludes quoted assets and investments in joint ventures. In the case of weighted average EBITDA only, excludes investments with no reported EBITDA or where EBITDA, in the Investment Adviser’s judgement made in its discretion, was not a material component of the original investment thesis, such as loan-to-value-based loans, NAV-based loans or reorganized equity. Weighted average EBITDA is weighted based on the fair value of the total applicable level 3 investments. Loan to value is calculated as net debt through each respective investment tranche in which HLEND holds an investment divided by enterprise value or value of underlying collateral of the portfolio company. Weighted average loan to value is weighted based on the fair value of the total applicable level 3 debt investments. Excludes investments on non-accrual status as of October 31, 2024. Figures are derived from the most recent financial statements from portfolio companies.
- Includes “last out” portions of first lien senior secured loans.
- Secured debt at the holding company level.
- Based on MSCI / S&P Global Industry Classification Standard (“GICS”) industry definition. Totals may not sum due to rounding.
- All figures are as of April 30, 2026 unless otherwise indicated. % of total portfolio shown above is measured as total fair value of investments.
- Other includes structured finance investments.
- Contractual rates on preferred equity investments may represent preference accruals that are not recognized through investment income of the fund and as such are not included in the calculation of yield. The fair value of these investments may be influenced by the stated preference accrual or a minimum return threshold.