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 June 30, 2026
$24.2B
Investments at Fair Value
9.4%
Portfolio Yield at Fair Value1
94%
Private Investments2
95%
First Lien Exposure3
99%
Floating Rate4
$262M
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
|
|---|---|---|---|---|---|---|---|
| AMR GP Ltd (Aston Martin Formula 1 Team) | Entertainment | 1st Lien Senior Secured Debt | 10.50% (incl 5.25% PIK) | $1,114 | 1,089 | 1,112 | 0.00% |
| Chord Searchlight, L.P | Entertainment | Other Secured Debt | S + 6.25% | $76,007 | -1,140 | -1,131 | 0.00% |
| Chord Searchlight, L.P | Entertainment | Other Secured Debt | S + 6.75% (incl 6.75% PIK) | $112,185 | 84,615 | 84,343 | 0.35% |
| Endeavor Operating Co LLC (Endeavor) | Entertainment | 1st Lien Senior Secured Debt | S + 2.75% | $8,137 | 8,104 | 8,156 | 0.03% |
| Ascensus Holdings, Inc. (AqGen Ascensus, Inc.) | Financial Services | 1st Lien Senior Secured Debt | S + 3.00% | $13,970 | 13,938 | 13,667 | 0.06% |
| Earps Bidco Limited (Smith & Williamson) | Financial Services | 1st Lien Senior Secured Debt | E + 4.50% | €5,661 | 6,463 | 6,468 | 0.03% |
| Eisner Advisory Group LLC | Financial Services | 1st Lien Senior Secured Debt | S + 4.00% | $8,459 | 8,403 | 8,326 | 0.03% |
| Empower Payments Investor, LLC (RevSpring) | Financial Services | 1st Lien Senior Secured Debt | S + 4.50% | $221,257 | 209,036 | 208,389 | 0.86% |
| Empower Payments Investor, LLC (RevSpring) | Financial Services | 1st Lien Senior Secured Debt | S + 4.75% | $73,633 | 73,291 | 72,572 | 0.30% |
| Focus Financial Partners, LLC (Focus Financial Partners LLC) | Financial Services | 1st Lien Senior Secured Debt | S + 2.50% | $17,777 | 17,718 | 17,385 | 0.07% |
| Harp Finco LTD (Hargreaves Lansdown PLC) | Financial Services | 1st Lien Senior Secured Debt | SN + 5.00% | £15,898 | 20,251 | 20,886 | 0.09% |
| Holdings 2, L.P. (Project Quicksilver) | Financial Services | Preferred Equity | 11.50% | $187,500 | 184,219 | 184,820 | 0.76% |
| June Purchaser LLC (Janney Montgomery Scott) | Financial Services | 1st Lien Senior Secured Debt | S + 2.75% | $11,212 | 9,554 | 9,617 | 0.04% |
| MAI Capital Management Intermediate LLC (MAI Capital Management) | Financial Services | 1st Lien Senior Secured Debt | S + 4.75% | $18,050 | 16,782 | 16,746 | 0.07% |
| Madonna Bidco Ltd (Isio) | Financial Services | 1st Lien Senior Secured Debt | SN + 5.00% | £61,566 | 65,729 | 68,536 | 0.28% |
| More Cowbell II, LLC (Standish) | Financial Services | 1st Lien Senior Secured Debt | S + 4.25% | $41,686 | 35,804 | 36,249 | 0.15% |
| Oak Funding LLC | Financial Services | 1st Lien Senior Secured Debt | S + 4.50% | $219,499 | 197,920 | 196,445 | 0.81% |
| Orthrus Ltd (Ocorian) | Financial Services | 1st Lien Senior Secured Debt | E + 6.25% (incl 2.75% PIK) | €31,956 | 33,501 | 35,842 | 0.15% |
| Orthrus Ltd (Ocorian) | Financial Services | 1st Lien Senior Secured Debt | SN + 6.25% (incl 2.75% PIK) | £42,912 | 44,958 | 46,408 | 0.19% |
| Orthrus Ltd (Ocorian) | Financial Services | 1st Lien Senior Secured Debt | S + 6.25% (incl 2.75% PIK) | $96,646 | 95,379 | 94,887 | 0.39% |
| Osaic Holdings Inc (Advisor Group Holdings, Inc) | Financial Services | 1st Lien Senior Secured Debt | S + 2.50% | $15,122 | 15,089 | 14,946 | 0.06% |
| PEX Holdings LLC (Gen II Fund Services, LLC) | Financial Services | 1st Lien Senior Secured Debt | S + 2.75% | $14,813 | 14,784 | 14,813 | 0.06% |
| PF Finco PTY LTD (Hunter Premium Funding) | Financial Services | 1st Lien Senior Secured Debt | B + 6.25% | A$41,852 | 26,499 | 28,418 | 0.12% |
| Transnetwork LLC (Transnetwork) | Financial Services | 1st Lien Senior Secured Debt | S + 4.75% | $68,020 | 67,436 | 59,942 | 0.25% |
| Travelex Issuerco 2 PLC (Travelex) | Financial Services | 1st Lien Senior Secured Debt | SN + 8.00% | £21,499 | 25,848 | 28,239 | 0.12% |
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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 June 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 June 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.