August 13, 2026 - 10-Q: Quarterly report [Sections 13 or 15(d)]

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________________________________

FORM 10-Q

_____________________________________________________

(Mark One)


x			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026


o			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number 814-01431

________________________________________________________________________________________________

HPS Corporate Lending Fund

(Exact name of Registrant as specified in its Charter)

________________________________________________________________________________________________


Delaware						87-6391045
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

40 West 57th Street, 33rd Floor New York, NY						10019
(Address of principal executive offices)						(Zip Code)

Registrant’s telephone number, including area code: (212) 287-6767

________________________________________________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

None

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:


Large accelerated filer	o	Accelerated filer	o
Non-accelerated filer	x	Smaller reporting company	o
Emerging growth company	o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

The Registrant’s Common Shares, $0.01 par value per share, outstanding as of August 10, 2026 was 32,650,042, 198,656,552, 41,427,560 and 224,148,116 of Class S, Class I, Class D, and Class F common shares, respectively. Common shares outstanding exclude August 1, 2026 subscriptions since the issuance price is not yet finalized at the date of this filing.

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		Page

PART I	FINANCIAL INFORMATION
Item 1.	Consolidated Financial Statements
	Consolidated Statements of Assets and Liabilities as of June 30 , 2026 (Unaudited) and December 31, 2025	2
	Consolidated Statements of Operations for the three and six months ended June 30 , 2026 (Unaudited) and June 30 , 2025 (Unaudited)	4
	Consolidated Statements of Changes in Net Assets for the three and six months ended June 30 , 2026 (Unaudited) and June 30 , 2025 (Unaudited)	5
	Consolidated Statements of Cash Flows for the six months ended June 30 , 2026 (Unaudited) and June 30 , 2025 (Unaudited)	6
	Consolidated Schedules of Investments as of June 30 , 2026 (Unaudited) and December 31, 2025	8
	Notes to Consolidated Financial Statements (Unaudited)	70
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	132
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	151
Item 4.	Controls and Procedures	152

PART II	OTHER INFORMATION
Item 1.	Legal Proceedings	153
Item 1A.	Risk Factors	153
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	153
Item 3.	Defaults Upon Senior Securities	153
Item 4.	Mine Safety Disclosures	154
Item 5.	Other Information	154
Item 6.	Exhibits	154
Signatures

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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This report contains forward-looking statements that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about HPS Corporate Lending Fund (together, with its consolidated subsidiaries, the “Company”, “we” or “our”), our current and prospective portfolio investments, our industry, our beliefs and opinions, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including without limitation:

•our future operating results;

•our business prospects and the prospects of our portfolio companies, including our and their ability to achieve our respective objectives as a result of inflation, the imposition of tariffs, increases in borrowing costs and a potential global recession;

•the impact of geo-political conditions, including revolution, insurgency, terrorism or war, including those arising out of the ongoing conflict between Russia and Ukraine and the broader Middle East conflict;

•the impact of the investments that we expect to make;

•our ability to raise sufficient capital to execute our investment strategy;

•our current and expected financing arrangements and investments;

•the adequacy of our cash resources, financing sources and working capital;

•changes in the general interest rate environment, including a sustained elevated interest rate environment, and uncertainty about the Federal Reserve’s intentions regarding interest rates in the future;

•the timing and amount of cash flows, distributions and dividends, if any, from our portfolio companies;

•our contractual arrangements and relationships with third parties;

•risks associated with the demand for liquidity under our share repurchase program and the continued approval of quarterly tender offers by the Board of Trustees (the “Board” or the “Board of Trustees”);

•actual and potential conflicts of interest with HPS Advisors, LLC (the “Adviser”) or any of its affiliates;

•the elevated level of inflation, and its impact on our portfolio companies and on the industries in which we invest;

•the dependence of our future success on the general economy and its effect on the industries in which we may invest;

•the availability of credit and/or our ability to access the capital markets;

•our use of financial leverage;

•the ability of the Adviser to source suitable investments for us and to monitor and administer our investments;

•the ability of the Adviser or its affiliates to attract and retain highly talented professionals;

•our ability to qualify for and maintain our qualification as a regulated investment company and as a business development company (“BDC”);

•the impact on our business of new or amended legislation or regulations;

•currency fluctuations, particularly to the extent that we receive payments denominated in currency other than U.S. dollars;

•the effect of changes to tax legislation and our tax position; and

•the tax status of the enterprises in which we may invest, including the imposition of tariffs upon either the supplies utilized by those enterprises or the enterprises’ end products.

Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate, and as a result, the forward-looking statements based on those assumptions also could be inaccurate. In light of these and other uncertainties, the inclusion of any projection or forward-looking statement in this report should not be regarded as a representation by us that our plans and objectives will be achieved. Moreover, we assume no duty and do not undertake to update the forward-looking statements, except as required by applicable law. Because we are an investment company, the forward-looking statements and projections contained in this report are excluded from the safe harbor protection provided by Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”).

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PART I - FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements.

HPS Corporate Lending Fund

Consolidated Statements of Assets and Liabilities

(in thousands, except share and per share amounts)


	June 30, 2026		December 31, 2025
ASSETS	(Unaudited)
Investments at fair value
Non-controlled/non-affiliated investments (amortized cost of $23,828,531 and $24,605,994 at June 30, 2026 and December 31, 2025, respectively)	$	23,607,483	$	24,821,751
Non-controlled/affiliated investments (amortized cost of $190,615 and $101,014 at June 30, 2026 and December 31, 2025, respectively)	155,149		99,425
Controlled/affiliated investments (amortized cost of $418,094 and $402,400 at June 30, 2026 and December 31, 2025, respectively)	415,406		416,244
Total investments at fair value (amortized cost of $24,437,240 and $25,109,408 at June 30, 2026 and December 31, 2025, respectively)	24,178,038		25,337,420
Cash	292,812		187,064
Cash equivalents	332,918		403,602
Interest receivable from non-controlled/non-affiliated investments	173,383		187,936
Interest receivable from non-controlled/affiliated investments	1,632		560
Dividend receivable from non-controlled/non-affiliated investments	85		62
Deferred financing costs	51,621		50,341
Deferred offering costs	1,585		2,175
Derivative assets, at fair value (Note 6)	37,717		50,869
Receivable for investments	78,777		83,891
Other assets	34,871		507
Total assets	$	25,183,439	$	26,304,427
LIABILITIES
Debt (net of unamortized debt issuance costs of $93,670 and $90,359 at June 30, 2026 and December 31, 2025, respectively)	$	12,109,708	$	12,950,206
Payable for investments purchased	14,692		2,699
Interest payable	154,949		171,991
Derivative liabilities, at fair value (Note 6)	41,939		20,792
Due to affiliates	15,822		16,726
Distribution payable (Note 9)	101,692		106,729
Payable for share repurchases (Note 9)	612,126		472,929
Management fees payable (Note 3)	26,510		13,732
Income based incentive fees payable (Note 3)	44,642		47,328
Capital gains incentive fees payable (Note 3)	—		—
Shareholder servicing and/or distribution fees payable	3,134		3,327
Accrued expenses and other liabilities	8,637		61,137
Total liabilities	13,133,851		13,867,596
Commitments and contingencies (Note 8)
NET ASSETS
Common Shares, $0.01 par value (493,375,252 and 493,104,572 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively)	4,934		4,931
Additional paid in capital	12,386,993		12,360,689
Distributable earnings (loss)	(342,339)		71,211
Total net assets	12,049,588		12,436,831
Total liabilities and net assets	$	25,183,439	$	26,304,427

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Assets and Liabilities

(in thousands, except share and per share amounts)


	June 30, 2026		December 31, 2025
NET ASSET VALUE PER SHARE	(Unaudited)
Class I Shares:
Net assets	$	4,812,961	$	4,855,520
Common Shares outstanding ($0.01 par value, unlimited shares authorized)	197,068,252		192,514,877
Net asset value per share	$	24.42	$	25.22
Class D Shares:
Net assets	$	1,008,729	$	1,138,385
Common Shares outstanding ($0.01 par value, unlimited shares authorized)	41,302,193		45,135,208
Net asset value per share	$	24.42	$	25.22
Class F Shares:
Net assets	$	5,442,481	$	5,629,111
Common Shares outstanding ($0.01 par value, unlimited shares authorized)	222,846,336		223,188,196
Net asset value per share	$	24.42	$	25.22
Class S Shares:
Net assets	$	785,417	$	813,815
Common Shares outstanding ($0.01 par value, unlimited shares authorized)	32,158,471		32,266,291
Net asset value per share	$	24.42	$	25.22

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Operations (Unaudited)

(in thousands)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Investment income:
From non-controlled/non-affiliated investments:
Interest income	$	538,573	$	465,696	$	1,093,047	$	873,707
Payment-in-kind interest income	28,841		24,584		57,874		48,683
Dividend income	6,759		1,206		10,937		2,353
Other income	1,374		472		3,431		529
From non-controlled/affiliated investments:
Interest income	1,309		160		1,998		469
Payment-in-kind interest income	1,450		152		3,158		152
From controlled/affiliated investments:
Dividend income	15,512		13,102		30,171		23,613
Total investment income	593,818		505,372		1,200,616		949,506
Expenses:
Interest expense	188,270		157,517		377,054		295,423
Management fees	39,480		32,623		79,371		61,769
Income based incentive fee	44,642		38,163		90,671		71,891
Capital gains incentive fee	—		(6,912)		—		(12,950)
Shareholder servicing and/or distribution fees
Class D	669		699		1,378		1,383
Class F	7,102		6,319		14,240		12,085
Class S	1,746		1,260		3,507		2,254
Professional fees	2,522		1,651		4,762		3,316
Board of Trustees’ fees	152		152		311		314
Administrative service expenses (Note 3)	914		1,240		1,836		2,757
Other general & administrative	3,913		3,333		7,779		6,424
Amortization of continuous offering costs	802		400		1,507		932
Total expenses	290,212		236,445		582,416		445,598
Net investment income before excise tax	303,606		268,927		618,200		503,908
Excise tax expense	622		3,152		2,624		3,445
Net investment income after excise tax	302,984		265,775		615,576		500,463
Net realized and change in unrealized gain (loss):
Realized gain (loss):
Non-controlled/non-affiliated investments	(18,955)		(27,420)		(3,734)		(47,306)

Foreign currency forward contracts	(641)		(70,095)		3,312		(104,374)
Foreign currency transactions	(12,623)		1,337		(20,895)		(558)
Net realized gain (loss)	(32,219)		(96,178)		(21,317)		(152,238)
Net change in unrealized appreciation (depreciation):
Non-controlled/non-affiliated investments	(170,367)		166,678		(436,805)		233,928
Non-controlled/affiliated investments	(25,669)		1,219		(33,877)		1,153
Controlled/affiliated investments	(7,873)		(5,086)		(16,532)		(2,812)
Foreign currency forward contracts	22,601		(85,050)		51,717		(109,152)
Translation of assets and liabilities in foreign currencies	24,982		(90,177)		52,991		(127,779)
Net change in unrealized appreciation (depreciation)	(156,326)		(12,416)		(382,506)		(4,662)
Net realized and change in unrealized gain (loss)	(188,545)		(108,594)		(403,823)		(156,900)
Net increase (decrease) in net assets resulting from operations	$	114,439	$	157,181	$	211,753	$	343,563

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Changes in Net Assets (Unaudited)

(in thousands)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Increase (decrease) in net assets from operations:
Net investment income after excise tax	$	302,984	$	265,775	$	615,576	$	500,463
Net realized gain (loss)	(32,219)		(96,178)		(21,317)		(152,238)
Net change in unrealized appreciation (depreciation)	(156,326)		(12,416)		(382,506)		(4,662)
Net increase (decrease) in net assets resulting from operations	114,439		157,181		211,753		343,563
Distributions to common shareholders:
Class I	(125,915)		(93,712)		(257,382)		(174,358)
Class D	(26,015)		(27,865)		(54,664)		(55,191)
Class F	(134,366)		(122,681)		(274,774)		(234,913)
Class S	(18,772)		(13,883)		(38,483)		(24,851)
Net decrease in net assets resulting from distributions	(305,068)		(258,141)		(625,303)		(489,313)
Share transactions:
Class I:
Proceeds from shares sold	250,423		614,935		710,482		1,225,365
Share transfers between classes	1,555		35,786		3,619		82,538
Distributions reinvested	28,683		29,117		59,161		52,378
Repurchased shares, net of early repurchase deduction	(293,496)		(103,994)		(650,112)		(256,053)
Net increase (decrease) from share transactions	(12,835)		575,844		123,150		1,104,228
Class D:
Proceeds from shares sold	—		73,000		15,248		137,125
Share transfers between classes	—		(35,128)		—		(75,832)
Distributions reinvested	10,336		12,843		22,938		26,075
Repurchased shares, net of early repurchase deduction	(57,625)		(22,035)		(131,920)		(55,956)
Net increase (decrease) from share transactions	(47,289)		28,680		(93,734)		31,412
Class F:
Proceeds from shares sold	46,364		427,197		248,967		709,806
Share transfers between classes	(97)		(1,147)		(1,477)		(4,075)
Distributions reinvested	60,064		55,337		126,892		106,168
Repurchased shares, net of early repurchase deduction	(223,757)		(55,924)		(375,996)		(79,256)
Net increase (decrease) from share transactions	(117,426)		425,463		(1,614)		732,643
Class S:
Proceeds from shares sold	14,097		114,250		56,241		224,484
Share transfers between classes	(1,458)		489		(2,142)		(2,631)
Distributions reinvested	7,506		5,700		15,643		10,293
Repurchased shares, net of early repurchase deduction	(37,352)		(4,616)		(71,237)		(5,698)
Net increase (decrease) from share transactions	(17,207)		115,823		(1,495)		226,448
Total increase (decrease) in net assets	(385,386)		1,044,850		(387,243)		1,948,981
Net assets, beginning of period	12,434,974		9,638,063		12,436,831		8,733,932
Net assets, end of period	$	12,049,588	$	10,682,913	$	12,049,588	$	10,682,913

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Cash Flows (Unaudited)

(in thousands)


	Six Months Ended June 30,
	2026		2025
Cash flows from operating activities:
Net increase (decrease) in net assets resulting from operations	$	211,753	$	343,563
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Net change in unrealized (appreciation) depreciation on investments	487,214		(232,269)
Net realized (gain) loss on investments	3,734		47,306
Net change in unrealized (appreciation) depreciation on foreign currency forward contracts	(51,717)		109,152
Net change in unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies	(53,656)		129,339
Net accretion of discount and amortization of premium, net	(48,417)		(36,197)
Amortization of deferred financing costs	6,126		5,188
Amortization of original issue discount and debt issuance costs	14,659		9,836
Amortization of offering costs	1,507		932
Payment-in-kind interest capitalized	(64,721)		(47,475)
Payment-in-kind dividends capitalized	(2,684)		(2,317)

Purchases of investments	(2,089,729)		(5,127,501)
Proceeds from sale of investments and principal repayments	2,873,985		773,108
Changes in operating assets and liabilities:
Interest receivable from non-controlled/non-affiliated investments	14,553		(17,225)
Interest receivable from non-controlled/affiliated investments	(1,072)		(199)
Dividend receivable from non-controlled/non-affiliated investments	(23)		45
Receivable for investments	5,114		14,285
Other assets	(34,364)		10,756
Payable for investments purchased	11,993		37,965
Interest payable	(17,042)		39,953
Due to affiliates	(904)		(4,303)
Management fees payable	12,778		1,809
Income based incentive fees payable	(2,686)		6,149
Capital gains incentive fees payable	—		(12,950)
Shareholder servicing and/or distribution fees payable	(193)		369
Accrued expenses and other liabilities	(52,500)		54,181
Net cash provided by (used in) operating activities	1,223,708		(3,896,500)
Cash flows from financing activities:
Borrowings on debt	4,219,711		8,284,950
Repayments of debt	(4,917,226)		(5,906,169)
Deferred financing costs paid	(7,406)		(11,257)
Debt issuance costs and original issue discount paid	(17,970)		(42,917)
Deferred offering costs paid	(917)		(549)
Proceeds from issuance of Common Shares	1,030,938		2,296,780
Common Shares repurchased, net of early repurchase deduction	(1,090,068)		(321,179)
Distributions paid in cash	(405,706)		(276,438)
Net cash provided by (used in) financing activities	(1,188,644)		4,023,221
Net increase (decrease) in cash and cash equivalents	35,064		126,721
Cash and cash equivalents, beginning of period	590,666		228,899
Cash and cash equivalents, end of period	$	625,730	$	355,620

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Statements of Cash Flows (Unaudited)

(in thousands)


	Six Months Ended June 30,
	2026		2025
Supplemental information and non-cash activities:
Interest paid during the period	$	373,311	$	240,446
Taxes paid during the period	$	7,180	$	5,428
Distribution payable	$	101,692	$	89,857
Share repurchases accrued but not paid	$	612,126	$	186,568
Reinvestment of distributions during the period	$	224,634	$	194,914
Non-cash purchases of investments	$	49,465	$	60,560
Non-cash sales of investments	$	(49,465)	$	(60,560)

The accompanying notes are an integral part of these consolidated financial statements.

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HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)		Fair Value		Percentage of Net Assets
Non-Controlled/Non-Affiliated Investments
First Lien Debt
Aerospace & Defense
Arcfield Acquisition Corp (4)(8)(25)	SF +	5.00%	8.66	%	10/28/2031	$	82,330	$	82,154	$	82,092
Arcfield Acquisition Corp (4)(6)(8)					10/28/2031	13,671		(33)		(39)
Cadence - Southwick, Inc. (4)(10)(25)	SF +	4.75%	8.50	%	5/3/2029	40,384		39,805		40,384
Cadence - Southwick, Inc. (4)(10)(25)	SF +	4.75%	8.52	%	5/3/2029	3,034		3,002		3,034
Cadence - Southwick, Inc. (4)(6)(10)(25)	SF +	4.75%	8.52	%	5/3/2028	17,561		11,553		11,708
Carbon Topco, Inc. (4)(6)(9)					5/1/2030	9,588		(134)		(68)
Carbon Topco, Inc. (4)(9)(25)	SF +	6.00%	9.66	%	11/1/2030	40,837		40,247		40,516
Fastener Distribution Holdings, LLC (4)(9)(25)	SF +	4.75%	8.48	%	11/4/2031	74,685		74,115		74,490
Fastener Distribution Holdings, LLC (4)(6)(9)(25)	SF +	4.75%	8.48	%	11/4/2031	28,263		10,604		10,771
Fortress Acquisitionco, Inc. (4)(9)(25)	SF +	4.75%	8.48	%	2/25/2033	123,421		122,245		120,867
Fortress Acquisitionco, Inc. (4)(6)(9)					2/25/2033	28,716		(273)		(594)
Frontgrade Technologies Holdings Inc. (4)(9)(25)	SF +	5.00%	8.64	%	1/9/2030	36,769		36,210		35,411
Frontgrade Technologies Holdings Inc. (4)(9)(25)	SF +	5.00%	8.64	%	1/9/2030	7,742		7,657		7,456
Frontgrade Technologies Holdings Inc. (4)(6)(9)(25)	SF +	5.00%	8.65	%	1/10/2028	6,864		1,658		1,597
Frontgrade Technologies Holdings Inc. (4)(9)(25)	SF +	5.00%	8.65	%	1/9/2030	8,684		8,621		8,363
Frontgrade Technologies Holdings Inc. (4)(9)(25)	SF +	5.00%	8.68	%	1/9/2030	1,970		1,962		1,897
RH Buyer Inc (4)(10)(25)	SF +	6.75%	10.58	%	1/17/2031	114,600		112,861		109,704
RH Buyer Inc (4)(10)(25)	SF +	6.75%	10.58	%	1/17/2031	13,792		13,583		13,203
Tex-Tech Industries Inc (4)(9)(25)	SF +	5.00%	8.64	%	1/13/2031	80,403		79,796		80,403
Tex-Tech Industries Inc (4)(6)(9)(25)	SF +	5.00%	8.64	%	1/13/2031	18,094		10,704		10,856
Tex-Tech Industries Inc (4)(6)(9)(25)	SF +	5.00%	8.64	%	1/13/2031	17,192		11,475		11,605
Titan BW Borrower L.P. (4)(8)(25)	SF +	5.38% (incl 2.88% PIK)	9.01	%	7/24/2032	233,251		231,277		230,812
Titan BW Borrower L.P. (4)(6)(8)(25)	SF +	4.75%	8.41	%	7/24/2032	15,994		9,430		9,410
Titan BW Borrower L.P. (4)(6)(8)					7/24/2032	48,935		(424)		(511)
Valence Surface Technologies LLC (4)(10)(25)	SF +	6.75%	10.42	%	6/13/2031	158,104		155,280		158,104
Valence Surface Technologies LLC (4)(10)(25)	SF +	6.75%	10.40	%	6/13/2031	18,107		17,767		18,107
Valence Surface Technologies LLC (4)(6)(10)(25)	SF +	6.75%	10.42	%	6/13/2031	27,526		26,598		27,120
Valence Surface Technologies LLC (4)(6)(10)					6/13/2031	13,777		(256)		—
West Star Aviation Acquisition, LLC (4)(6)(9)(24)	SF +	4.50%	8.14	%	5/20/2032	7,418		1,066		1,043
West Star Aviation Acquisition, LLC (4)(6)(9)(24)	SF +	4.50%	8.14	%	5/20/2032	11,071		8,401		8,371
West Star Aviation Acquisition, LLC (4)(9)(24)	SF +	4.50%	8.14	%	5/20/2032	52,640		52,308		52,148
WP CPP Holdings, LLC (4)(6)(10)					11/30/2029	26,285		(374)		—
WP CPP Holdings, LLC (4)(10)(25)	SF +	7.00% (incl 3.88% PIK)	10.66	%	11/30/2029	207,735		205,124		207,735
Zenith AcquisitionCo LLC (4)(8)(25)	SF +	4.50%	8.17	%	1/13/2033	148,161		147,469		147,739
Zenith AcquisitionCo LLC (4)(6)(8)(25)	SF +	4.50%	8.17	%	1/13/2033	74,200		3,074		3,221
Zenith AcquisitionCo LLC (4)(6)(12)					1/13/2033	31,229		(146)		(89)
Total Aerospace & Defense								1,524,406		1,526,866		12.67	%

Air Freight & Logistics
Zeppelin US Buyer Inc. (4)(6)(9)					8/2/2032	26,224		(245)		(364)
Zeppelin US Buyer Inc. (4)(6)(9)(25)	SF +	4.75%	8.49	%	8/2/2032	13,112		5,037		4,969
Zeppelin US Buyer Inc. (4)(9)(25)	SF +	4.75%	8.48	%	8/2/2032	85,664		84,920		84,474
Total Air Freight & Logistics								89,712		89,079		0.74	%

Asset Based Lending and Fund Finance
Montagu Lux Finco Sarl (4)(5)(6)(10)(29)	E +	5.50%	7.75	%	2/13/2032	EUR	65,158	33,506		35,559

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
Total Asset Based Lending and Fund Finance								33,506	35,559	0.30	%

Automobile Components
ABC Group Holdings Inc (4)(5)(9)(28)	E +	6.13%	8.30	%	8/22/2031	EUR	55,613	63,095	61,185
ABC Group Holdings Inc (4)(5)(9)(23)(28)	E +	7.21%	9.39	%	8/22/2031	EUR	539	611	587
ABC Technologies Inc (4)(5)(9)(24)	SF +	6.00%	9.64	%	8/22/2031	88,162		85,325	84,891
ABC Technologies Inc (4)(5)(9)(23)(24)	SF +	7.04%	10.69	%	8/22/2031	863		836	823
Clarios Global LP (7)(24)	SF +	2.50%	6.14	%	5/6/2030	8,635		8,608	8,653
Clarios Global LP (7)(24)	SF +	2.50%	6.14	%	1/28/2032	5,339		5,334	5,351
Tenneco Inc (8)(25)	SF +	5.00%	8.74	%	11/17/2028	8,000		7,904	7,981
Tenneco Inc (8)(25)	SF +	4.75%	8.49	%	11/17/2028	3,843		3,801	3,830
Total Automobile Components								175,514	173,301	1.44	%

Beverages
Vital Bidco AB (4)(5)(10)(24)	SF +	4.25%	7.89	%	10/29/2031	96,427		94,940	96,427
Vital Bidco AB (4)(5)(6)(10)					10/29/2030	16,892		(244)	—
Total Beverages								94,696	96,427	0.80	%

Broadline Retail
Auctane Inc (4)(9)(24)	SF +	5.75%	9.52	%	6/1/2033	24,250		24,250	24,250
Thrasio LLC (4)(10)(23)(25)	SF +	8.00%	12.01	%	6/18/2029	300		8	300
Total Broadline Retail								24,258	24,550	0.20	%

Building Products
Enstall Group B.V. (4)(5)(8)(19)(29)	E +	6.50%			8/30/2028	EUR	66,292	67,687	38,322
Fire Flow Intermediate Corporation (4)(9)(25)	SF +	4.75%	8.41	%	7/10/2031	122,131		121,244	120,159
Fire Flow Intermediate Corporation (4)(6)(9)(25)	SF +	4.75%	8.48	%	7/10/2031	18,383		10,392	10,273
Fire Flow Intermediate Corporation (4)(6)(9)					7/10/2031	42,893		(416)	(693)
Nexus Intermediate III, LLC (4)(9)(26)	SF +	4.75%	8.49	%	12/6/2029	1,035		1,042	1,017
Saber Parent Holdings Corp (4)(7)(25)	SF +	4.75% (incl 2.25% PIK)	8.42	%	12/16/2032	101,533		101,070	99,666
Saber Parent Holdings Corp (4)(6)(7)(24)	SF +	4.75% (incl 2.25% PIK)	8.38	%	12/16/2032	27,711		4,943	4,566
Saber Parent Holdings Corp (4)(6)(10)(45)	P +	3.50%	10.25	%	12/16/2032	15,205		6,995	6,785
SWF Holdings I Corp (10)(24)	SF +	4.50%	8.14	%	12/19/2029	73		70	72
SWF Holdings I Corp (10)(24)	SF +	4.00%	7.76	%	10/6/2028	667		641	358
SWF Holdings I Corp (10)(24)	SF +	4.50%	8.12	%	12/19/2029	94		93	94
Total Building Products								313,761	280,619	2.33	%

Capital Markets
DRW Holdings LLC (7)(24)	SF +	3.50%	7.14	%	6/26/2031	13,075		13,024	12,593
Jump Financial LLC (4)(7)(25)	SF +	3.50%	7.23	%	2/26/2032	3,866		3,857	3,871
Wharf Street Ratings Acquisition LLC (4)(9)(24)	SF +	4.50%	8.14	%	9/16/2032	234,625		232,540	234,625
Wharf Street Ratings Acquisition LLC (4)(6)(9)					9/16/2032	26,191		(247)	—
Wharf Street Ratings Acquisition LLC (4)(6)(9)					9/16/2032	27,944		(248)	—
Yes Energy LLC (4)(10)(24)	SF +	4.75%	8.40	%	4/21/2028	39,424		39,202	39,144
Yes Energy LLC (4)(10)(24)	SF +	4.75%	8.40	%	4/21/2028	14,154		14,087	14,054
Yes Energy LLC (4)(10)(24)	SF +	4.75%	8.40	%	4/21/2028	9,591		9,529	9,523
Yes Energy LLC (4)(6)(10)					4/21/2028	2,443		—	(17)
Yes Energy LLC (4)(10)(24)	SF +	4.75%	8.40	%	4/21/2028	7,395		7,329	7,342
Total Capital Markets								319,073	321,135	2.67	%

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets

Chemicals
Bakelite US Holdco Inc (7)(25)	SF +	3.75%	7.48	%	12/23/2031	6,114		6,066	6,114
Braya Renewable Fuels (Newfoundland) LP (4)(5)(15)(25)	SF +	10.00%	13.83	%	11/9/2026	9,882		9,858	9,374
Braya Renewable Fuels (Newfoundland) LP (4)(5)(15)(25)	SF +	10.00%	13.83	%	11/9/2026	779		777	739
Braya Renewable Fuels (Newfoundland) LP (4)(5)(15)(25)	SF +	10.00%	13.83	%	11/9/2026	778		775	738
Braya Renewable Fuels (Newfoundland) LP (4)(5)(15)(25)	SF +	10.00%	13.83	%	11/9/2026	8,608		8,583	8,166
Discovery Purchaser Corp (8)(25)	SF +	3.75%	7.41	%	10/4/2029	5,104		4,971	5,091
Formerra LLC (4)(10)(24)	SF +	7.25%	10.96	%	11/1/2028	103,017		101,684	101,502
Formerra LLC (4)(6)(10)(24)	SF +	7.25%	10.97	%	11/1/2028	12,031		3,457	3,432
Formerra LLC (4)(10)(24)	SF +	7.25%	10.96	%	11/1/2028	4,145		4,090	4,084
Fortis 333 Inc (7)(25)	SF +	3.25%	6.98	%	3/27/2032	2,080		2,076	2,076
Lummus Technology Holdings V LLC (7)(24)	SF +	2.50%	6.14	%	12/31/2029	24,727		24,572	24,452
Total Chemicals								166,909	165,768	1.38	%

Commercial Services & Supplies
ABC Legal Holdings, LLC (4)(9)(25)	SF +	4.25%	7.91	%	8/13/2032	80,256		79,554	81,058
ABC Legal Holdings, LLC (4)(6)(9)					8/13/2032	24,138		(226)	241
ABC Legal Holdings, LLC (4)(6)(9)					8/13/2032	16,200		(142)	—
Allied Universal Holdco LLC (7)(24)	SF +	3.25%	6.89	%	8/20/2032	13,014		12,999	13,035
Apex Group Treasury LLC (5)(7)(25)	SF +	3.50%	7.15	%	2/27/2032	13,412		13,305	12,740
Argos Health Holdings, Inc. (4)(9)(25)	SF +	5.00%	8.68	%	12/3/2029	1,433		1,425	1,433
AVSC Holding Corp. (4)(9)(24)	SF +	5.00%	8.64	%	12/5/2031	73,261		72,123	73,261
AVSC Holding Corp. (4)(6)(9)(24)	SF +	5.00%	8.62	%	12/5/2029	8,660		920	1,018
Axiom Buyer, LLC (4)(10)(24)	SF +	6.50%	10.14	%	1/14/2030	147,699		145,327	144,997
Axiom Buyer, LLC (4)(6)(10)					1/14/2030	16,189		(332)	(296)
Axiom Buyer, LLC (4)(6)(10)(24)	SF +	6.50%	10.14	%	1/14/2030	18,189		11,921	11,880
Certania Beteiligungen GmbH (4)(5)(7)(29)	E +	6.55%	8.84	%	5/23/2029	EUR	22,824	26,087	25,271
Coretrust Purchasing Group LLC (4)(6)(9)					10/1/2029	9,457		(132)	(23)
Coretrust Purchasing Group LLC (4)(9)(24)	SF +	5.25%	8.89	%	10/1/2029	73,264		72,376	73,084
Guardian US Holdco LLC (8)(25)	SF +	3.25%	6.98	%	1/31/2030	7,762		7,681	7,674
ImageFIRST Holdings, LLC (7)(25)	SF +	3.00%	6.66	%	3/12/2032	4,620		4,611	4,630
NBG Acquisition Corp. (4)(9)(25)	SF +	6.00% (incl 3.50% PIK)	9.66	%	11/4/2030	21,547		21,486	15,505
NBG Acquisition Corp. (4)(9)(25)	SF +	6.00% (incl 3.50% PIK)	9.73	%	11/4/2030	3,394		3,366	2,442
NBG Acquisition Corp. (4)(6)(9)(25)	SF +	6.00% (incl 3.50% PIK)	9.73	%	11/4/2030	2,948		2,222	1,406
NDT Global Holding Inc. (4)(5)(8)(24)	SF +	4.50%	8.14	%	6/4/2032	119,100		118,091	117,204
NDT Global Holding Inc. (4)(5)(6)(8)					6/4/2032	30,474		(258)	(485)
NDT Global Holding Inc. (4)(5)(8)(24)	SF +	4.50%	8.14	%	6/4/2032	26,497		26,271	26,075
NTH Degree Purchaser Inc (4)(10)(25)	SF +	5.50%	9.16	%	9/10/2030	100,093		98,694	98,647
NTH Degree Purchaser Inc (4)(10)(25)	SF +	5.50%	9.16	%	9/10/2030	30,723		30,218	30,279
NTH Degree Purchaser Inc (4)(6)(10)					9/10/2030	16,125		(226)	(233)
Retail Services WIS Corporation (4)(10)(25)	SF +	6.75%	10.42	%	8/29/2030	108,879		107,067	106,214
Retail Services WIS Corporation (4)(6)(10)					8/29/2030	25,930		(475)	(635)
Sentinel Buyer Corp. (4)(6)(9)					11/6/2032	21,437		(173)	(365)
Sentinel Buyer Corp. (4)(9)(24)	SF +	5.00%	8.64	%	11/6/2032	257,181		255,203	252,800
Team, Inc. (4)(10)(25)	SF +	5.75%	9.42	%	3/12/2030	51,705		50,846	50,725

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
Team, Inc. (4)(6)(10)					3/12/2030	14,960		(293)	(284)
The.Team SME LLC (7)(24)	SF +	2.50%	6.14	%	6/23/2032	4,146		4,128	4,148
Victors Purchaser LLC (4)(8)(25)	SF +	4.50%	8.23	%	12/23/2032	74,072		73,900	72,836
Victors Purchaser LLC (4)(6)(8)					12/23/2032	5,802		(28)	(97)
Victors Purchaser LLC (4)(6)(8)(24)	SF +	4.50%	8.14	%	12/23/2032	11,035		1,026	892
Total Commercial Services & Supplies								1,238,562	1,227,077	10.18	%

Communications Equipment
Ribbon Communications Operating Company, Inc (4)(5)(10)(24)	SF +	6.25%	9.89	%	6/21/2029	54,291		53,645	53,709
Ribbon Communications Operating Company, Inc (4)(5)(6)(14)					6/21/2029	6,365		(76)	(68)
Total Communications Equipment								53,569	53,641	0.45	%

Construction & Engineering
NRO Holdings III Corp. (4)(6)(9)(24)	SF +	5.25%	8.88	%	7/15/2030	100		82	82
NRO Holdings III Corp. (4)(9)(26)	SF +	5.25%	8.94	%	7/15/2031	674		664	671
NRO Holdings III Corp. (4)(6)(9)(26)	SF +	5.25%	8.87	%	7/15/2031	213		151	153
Pike Corporation (4)(9)(24)	SF +	4.25%	7.89	%	12/20/2032	119,012		118,462	116,793
Pike Corporation (4)(6)(9)					12/20/2032	25,872		(124)	(482)
Pike Corporation (4)(6)(9)					12/20/2032	19,117		(88)	(356)
Total Construction & Engineering								119,147	116,861	0.97	%

Consumer Finance
PCP CW Aggregator Holdings II, L.P. (4)(5)(10)(25)	SF +	7.75% PIK	11.40	%	2/9/2028	22,526		22,489	22,505
Total Consumer Finance								22,489	22,505	0.19	%

Consumer Staples Distribution & Retail
DIA Finance S.L.U. (4)(5)(9)(29)	E +	6.50%	8.90	%	12/27/2029	EUR	170,600	174,142	193,642
Puma Buyer LLC (4)(8)(25)	SF +	4.25%	7.98	%	3/29/2032	59,236		58,872	59,236
Puma Buyer LLC (4)(8)(25)	SF +	4.25%	7.98	%	3/29/2032	27,224		27,102	27,224
Puma Buyer LLC (4)(6)(8)					3/29/2032	15,248		(85)	—
SW Ingredients Holdings, LLC (4)(6)(9)(24)	SF +	5.00%	8.64	%	5/2/2030	32,714		6,167	6,091
SW Ingredients Holdings, LLC (4)(9)(24)	SF +	5.00%	8.64	%	5/2/2030	190,554		188,355	187,925
SW Ingredients Holdings, LLC (4)(6)(9)					5/2/2030	23,763		(315)	(328)
Vermont Aus Pty Ltd (4)(5)(9)(36)	B +	4.50%	9.01	%	3/23/2028	AUD	54,861	39,451	37,980
Total Consumer Staples Distribution & Retail								493,689	511,770	4.25	%

Containers & Packaging
BP Purchaser, LLC (4)(9)(25)	SF +	7.50% (incl 1.00% PIK)	11.43	%	12/11/2028	28,381		28,185	21,462
Capripack Debtco PLC (4)(5)(10)(28)	E +	5.75% (incl 2.50% PIK)	7.76	%	1/3/2030	EUR	13,918	14,929	16,059
Capripack Debtco PLC (4)(5)(10)(28)	E +	5.75% (incl 2.50% PIK)	7.76	%	1/3/2030	EUR	74,922	80,361	86,447
Capripack Debtco PLC (4)(5)(10)(29)	E +	5.75% (incl 2.50% PIK)	7.65	%	1/3/2030	EUR	30,829	31,318	35,572
Capripack Debtco PLC (4)(5)(10)(29)	E +	5.75% (incl 2.50% PIK)	7.65	%	1/3/2030	EUR	26,975	27,403	31,125
Clydesdale Acquisition Holdings Inc (8)(24)	SF +	3.18%	6.82	%	4/13/2029	7,576		7,564	7,454
Total Containers & Packaging								189,760	198,119	1.64	%

Distributors

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
Thermostat Purchaser III Inc (9)(25)	SF +	4.25%	7.98	%	8/31/2028	7,860		7,860	7,783
Total Distributors								7,860	7,783	0.06	%

Diversified Consumer Services
Aesthetics Australia Group Pty Ltd (4)(5)(8)(19)(37)	B +	9.38% PIK			3/21/2028	AUD	65,738	39,575	25,549
Aesthetics Australia Group Pty Ltd (4)(5)(6)(8)(19)(36)	B +	9.38% PIK			3/21/2028	AUD	5,806	2,642	2,543
AI Learning (Singapore) PTE. LTD. (4)(5)(12)(43)	SORA +	7.50%	9.00	%	5/25/2027	SGD	45,400	33,317	34,769
American Academy Holdings, LLC (4)(17)(24)	SF +	9.25% (incl 5.00% PIK)	13.01	%	6/30/2027	59,722		59,722	57,295
Club Car Wash Operating, LLC (4)(10)(25)	SF +	5.50%	9.38	%	6/16/2027	18,892		18,839	18,808
Club Car Wash Operating, LLC (4)(10)(25)	SF +	5.50%	9.38	%	6/16/2027	9,232		9,193	9,191
Club Car Wash Operating, LLC (4)(10)(25)	SF +	5.50%	9.38	%	6/16/2027	29,015		28,685	28,886
Club Car Wash Operating, LLC (4)(10)(25)	SF +	5.50%	9.38	%	6/16/2027	56,954		56,758	56,700
Club Car Wash Operating, LLC (4)(10)(25)	SF +	5.50%	9.38	%	6/16/2027	30,069		29,874	29,935
Express Wash Concepts, LLC (4)(10)(24)	SF +	5.00%	8.74	%	4/30/2027	25,853		25,808	25,853
Express Wash Concepts, LLC (4)(10)(24)	SF +	5.00%	8.74	%	4/30/2027	46,038		45,960	46,038
HMH CO (8)(25)	SF +	5.25%	9.01	%	4/9/2029	24,611		24,303	19,554
IXM Holdings, Inc. (4)(6)(11)(24)	SF +	5.75%	9.41	%	12/14/2030	4,013		1,853	1,789
IXM Holdings, Inc. (4)(11)(24)	SF +	5.75%	9.43	%	12/14/2030	19,922		19,646	19,410
IXM Holdings, Inc. (4)(11)(24)	SF +	5.75%	9.41	%	12/14/2030	20,736		20,549	20,204
KUEHG Corp. (5)(8)(25)	SF +	2.75%	6.48	%	6/12/2030	2,350		2,347	2,269
Mckissock Investment Holdings LLC (9)(25)	SF +	5.00%	8.83	%	3/12/2029	12,571		12,477	10,775
Mckissock Investment Holdings LLC (9)(25)	SF +	5.00%	8.67	%	3/12/2029	46,773		46,055	40,088
Mckissock Investment Holdings LLC (9)(25)	SF +	5.00%	8.83	%	3/12/2029	31,009		30,901	26,577
Spotless Brands, LLC (4)(10)(26)	SF +	5.75%	9.60	%	7/25/2028	102,659		101,929	102,066
Spotless Brands, LLC (4)(6)(10)					7/25/2028	5,175		(35)	(30)
Spotless Brands, LLC (4)(10)(26)	SF +	5.75%	9.60	%	7/25/2028	20,994		20,847	20,872
Spotless Brands, LLC (4)(10)(26)	SF +	5.75%	9.60	%	7/25/2028	15,579		15,471	15,489
Spotless Brands, LLC (4)(10)(25)	SF +	5.50%	9.17	%	7/25/2028	30,700		30,524	30,469
University Support Services LLC (8)(24)	SF +	2.75%	6.39	%	2/10/2029	3,129		3,000	3,088
Total Diversified Consumer Services								680,240	648,187	5.38	%

Diversified Telecommunication Services
Meriplex Communications, LTD (4)(9)(24)	SF +	5.00%	8.74	%	7/17/2028	13,513		13,441	12,361
Meriplex Communications, LTD (4)(9)(24)	SF +	5.00%	8.74	%	7/17/2028	2,860		2,848	2,616
Meriplex Communications, LTD (4)(9)(24)	SF +	5.00%	8.74	%	7/17/2028	1,143		1,137	1,045
Meriplex Communications, LTD (4)(9)(24)	SF +	5.00%	8.74	%	7/17/2028	380		375	348
Total Diversified Telecommunication Services								17,801	16,370	0.14	%

Electric Utilities
Cricket Valley Energy Center LLC (4)(18)(25)	SF +	5.00%	8.75	%	6/26/2030	65,231		63,932	64,566
Total Electric Utilities								63,932	64,566	0.54	%

Electrical Equipment
Arcline FM Holdings LLC (9)(26)	SF +	2.75%	6.48	%	6/23/2030	18,037		18,037	18,120
Truck-Lite Co, LLC (4)(6)(9)					2/13/2031	11,973		(146)	(41)
Truck-Lite Co, LLC (4)(6)(9)(25)	SF +	4.75%	8.42	%	2/13/2032	32,747		12,484	12,693
Truck-Lite Co, LLC (4)(6)(9)					2/13/2032	16,303		(225)	(116)
Truck-Lite Co, LLC (4)(9)(25)	SF +	4.75%	8.41	%	2/13/2032	90,327		89,095	89,687
Truck-Lite Co, LLC (4)(9)(25)	SF +	4.75%	8.41	%	2/13/2032	3,381		3,352	3,357
Truck-Lite Co, LLC (4)(9)(25)	SF +	4.75%	8.43	%	2/13/2032	1,946		1,920	1,932

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
Total Electrical Equipment								124,517	125,632	1.04	%

Electronic Equipment, Instruments & Components
Bright Light Buyer, Inc. (4)(10)(24)	SF +	6.00%	9.64	%	11/8/2029	67,626		66,681	67,626
CC WDW Borrower, Inc. (4)(10)(25)	SF +	6.75%	10.56	%	1/27/2028	43,961		43,601	43,856
CC WDW Borrower, Inc. (4)(6)(10)(25)	SF +	6.75%	10.56	%	1/27/2028	5,122		4,570	4,598
CC WDW Borrower, Inc. (4)(10)(25)	SF +	6.75%	10.63	%	1/27/2028	2,283		2,283	2,277
Dwyer Instruments Inc (4)(9)(25)	SF +	4.75%	8.48	%	7/20/2029	89,871		89,278	89,330
Dwyer Instruments Inc (4)(9)(25)	SF +	4.75%	8.48	%	7/20/2029	13,303		13,204	13,223
Dwyer Instruments Inc (4)(6)(9)(25)	SF +	4.75%	8.49	%	7/20/2029	15,177		12,769	12,777
Hobbs & Associates LLC (7)(24)	SF +	2.75%	6.39	%	7/23/2031	15,281		15,233	15,278
Resilience Parent LLC (7)(26)	SF +	2.50%	6.23	%	2/28/2033	4,348		4,337	4,343
Total Electronic Equipment, Instruments & Components								251,956	253,308	2.10	%

Energy Equipment & Services
Camin Cargo Control Holdings, Inc. (4)(10)(25)	SF +	5.50%	9.14	%	12/7/2029	62,953		62,249	59,602
Camin Cargo Control Holdings, Inc. (4)(10)(24)	SF +	5.50%	9.13	%	12/7/2029	6,622		6,522	6,269
Camin Cargo Control Holdings, Inc. (4)(6)(10)(25)	SF +	5.50%	9.13	%	12/7/2029	9,702		7,912	7,504
Total Energy Equipment & Services								76,683	73,375	0.61	%

Entertainment
AMR GP Ltd (4)(5)(7)		10.50% (incl 5.25% PIK)	10.50	%	7/10/2034	1,114		1,089	1,112
Aventine Intermediate LLC (4)(9)(25)	SF +	6.00% (incl 3.50% PIK)	9.83	%	6/18/2029	691		688	615
Aventine Intermediate LLC (4)(9)(25)	SF +	6.00% (incl 3.50% PIK)	9.83	%	6/18/2029	11,812		11,754	10,515
Endeavor Operating Co LLC (5)(7)(24)	SF +	2.75%	6.39	%	3/24/2032	8,137		8,104	8,156
Global Music Rights, LLC (4)(9)(25)	SF +	4.25%	7.98	%	12/20/2031	439,167		435,725	443,559
Global Music Rights, LLC (4)(6)(9)(24)	SF +	4.25%	7.88	%	12/20/2031	46,796		18,353	18,719
Total Entertainment								475,713	482,676	4.01	%

Financial Services
AI Circle Bidco Limited (4)(5)(10)(30)	E +	5.75%	7.92	%	2/8/2031	EUR	44,620	46,813	51,428
AI Circle Bidco Limited (4)(5)(10)(30)	E +	5.75%	7.92	%	2/8/2031	EUR	6,374	6,778	7,347
AI Circle Bidco Limited (4)(5)(10)(30)	E +	5.75%	8.34	%	2/8/2031	EUR	46,285	52,031	53,347
Ascensus Holdings, Inc. (8)(24)	SF +	3.00%	6.64	%	11/25/2032	13,970		13,938	13,667
Earps Bidco Limited (4)(5)(7)(32)	SN +	4.50%	8.23	%	3/28/2032	GBP	37,700	48,195	50,013
Earps Bidco Limited (4)(5)(6)(7)(32)	SN +	4.50%	8.23	%	3/28/2032	GBP	8,094	6,966	7,071
Earps Bidco Limited (4)(5)(7)(29)	E +	4.50%	6.79	%	3/28/2032	EUR	5,661	6,463	6,468
Eisner Advisory Group LLC (8)(24)	SF +	4.00%	7.64	%	2/28/2031	8,459		8,403	8,326
Empower Payments Investor, LLC (4)(9)(24)	SF +	4.50%	8.14	%	3/12/2031	99,653		98,316	98,216
Empower Payments Investor, LLC (4)(9)(24)	SF +	4.50%	8.14	%	3/12/2031	14,246		14,033	14,041
Empower Payments Investor, LLC (4)(6)(9)					3/12/2030	9,704		(120)	(115)
Empower Payments Investor, LLC (4)(9)(24)	SF +	4.50%	8.14	%	3/12/2031	14,018		13,899	13,816
Empower Payments Investor, LLC (4)(9)(24)	SF +	4.50%	8.14	%	3/12/2031	9,311		9,235	9,177
Empower Payments Investor, LLC (4)(9)(24)	SF +	4.50%	8.14	%	3/12/2031	57,140		56,642	56,317
Empower Payments Investor, LLC (4)(9)(24)	SF +	4.50%	8.14	%	3/12/2031	17,185		17,031	16,938
Empower Payments Investor, LLC (4)(9)(25)	SF +	4.75%	8.39	%	3/12/2031	73,633		73,291	72,572
Focus Financial Partners, LLC (7)(24)	SF +	2.50%	6.14	%	9/15/2031	17,777		17,718	17,385
Harp Finco LTD (4)(5)(7)(32)	SN +	5.00%	8.73	%	3/29/2032	GBP	15,898	20,251	20,886

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
June Purchaser LLC (7)(24)	SF +	2.75%	6.39	%	11/28/2031	9,593		9,563	9,614
June Purchaser LLC (6)(7)					11/28/2031	1,619		(9)	4
Madonna Bidco Ltd (4)(5)(7)(32)	SN +	5.00%	8.73	%	10/25/2031	GBP	51,131	65,269	67,830
Madonna Bidco Ltd (4)(5)(6)(7)(32)	SN +	5.00%	8.73	%	10/25/2031	GBP	10,435	460	706
MAI Capital Management Intermediate LLC (4)(9)(25)	SF +	4.75%	8.48	%	8/29/2031	1,488		1,477	1,473
MAI Capital Management Intermediate LLC (4)(9)(25)	SF +	4.75%	8.48	%	8/29/2031	11,836		11,743	11,719
MAI Capital Management Intermediate LLC (4)(6)(9)					8/29/2031	1,125		(8)	(11)
MAI Capital Management Intermediate LLC (4)(9)(25)	SF +	4.75%	8.48	%	8/29/2031	3,601		3,570	3,565
More Cowbell II, LLC (4)(6)(9)					9/1/2029	5,393		(57)	(11)
More Cowbell II, LLC (4)(9)(27)	SF +	4.25%	7.74	%	9/1/2030	36,293		35,861	36,260
Neon Maple US Debt Mergersub Inc (5)(7)(24)	SF +	2.50%	6.14	%	11/17/2031	3,121		3,102	3,048
Oak Funding LLC (4)(6)(8)					12/2/2032	19,556		(187)	(312)
Oak Funding LLC (4)(8)(25)	SF +	4.50%	8.16	%	12/2/2032	199,943		198,108	196,756
Orthrus Ltd (4)(5)(7)(32)	SN +	6.25% (incl 2.75% PIK)	9.99	%	12/5/2031	GBP	35,764	45,099	46,581
Orthrus Ltd (4)(5)(7)(29)	E +	6.25% (incl 2.75% PIK)	8.55	%	12/5/2031	EUR	31,956	33,501	35,842
Orthrus Ltd (4)(5)(10)(25)	SF +	6.25% (incl 2.75% PIK)	9.90	%	12/5/2031	84,427		83,328	82,891
Orthrus Ltd (4)(5)(6)(7)					12/5/2031	GBP	7,149	(141)	(173)
Orthrus Ltd (4)(5)(10)(25)	SF +	6.25% (incl 2.75% PIK)	9.90	%	12/5/2031	12,219		12,051	11,996
Osaic Holdings Inc (7)(25)	SF +	2.50%	6.23	%	7/30/2032	15,122		15,089	14,946
PEX Holdings LLC (7)(25)	SF +	2.75%	6.48	%	11/26/2031	14,813		14,784	14,813
PF Finco PTY LTD (4)(5)(10)(35)	B +	6.25%	10.61	%	5/30/2030	AUD	41,852	26,499	28,418
Priority Holdings, LLC (5)(8)(24)	SF +	3.75%	7.39	%	8/2/2032	4,058		4,050	4,009
Transnetwork LLC (8)(25)	SF +	4.75%	8.48	%	12/30/2030	68,020		67,436	59,942
Travelex Issuerco 2 PLC (4)(5)(14)(32)	SN +	8.00%	11.73	%	9/22/2028	GBP	21,499	25,848	28,239
Total Financial Services								1,166,319	1,175,045	9.75	%

Food Products
Aspire Bakeries Holdings LLC (7)(24)	SF +	3.00%	6.64	%	12/23/2030	10,899		10,869	10,972
Specialty Ingredients, LLC (4)(9)(24)	SF +	4.75%	8.49	%	2/12/2029	87,533		86,812	86,961
Specialty Ingredients, LLC (4)(6)(9)(24)	SF +	4.75%	8.49	%	2/12/2029	11,279		2,165	2,182
Sugar PPC Buyer LLC (4)(10)(26)	SF +	4.75%	8.50	%	10/2/2030	58,207		57,410	58,207
Sugar PPC Buyer LLC (4)(10)(26)	SF +	4.75%	8.50	%	10/2/2030	16,168		15,941	16,168
Sugar PPC Buyer LLC (4)(6)(10)(26)	SF +	4.75%	8.60	%	10/2/2030	14,431		4,182	4,299
Total Food Products								177,379	178,789	1.48	%

Gas Utilities
Energos Infrastructure Holdings Finance LLC (4)(5)(10)(25)	SF +	5.75%	9.58	%	8/13/2027	37,879		37,716	37,879
Total Gas Utilities								37,716	37,879	0.31	%

Health Care Equipment & Supplies
ABB/CON-CISE Optical Group LLC (4)(9)(25)	SF +	7.50%	11.39	%	2/23/2028	21,259		21,104	21,104
Agiliti Health, Inc. (7)(26)	SF +	3.00%	6.58	%	5/1/2030	9,926		9,591	9,600
Bayou Intermediate II, LLC (4)(9)(25)	SF +	4.75%	8.48	%	9/30/2032	148,054		146,733	144,948
Bayou Intermediate II, LLC (4)(6)(9)(25)	SF +	4.75%	8.48	%	9/30/2032	40,378		31,123	30,648
Bayou Intermediate II, LLC (4)(6)(9)(25)	SF +	4.75%	8.48	%	9/30/2032	25,989		12,438	12,129
Ensemble RCM LLC (7)(25)	SF +	3.00%	6.66	%	2/9/2033	20,117		20,093	20,061
Resonetics, LLC (9)(25)	SF +	2.75%	6.42	%	6/18/2031	37,963		37,896	37,963

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
Spruce Bidco II Inc (4)(6)(9)(26)	SF +	4.75%	8.46	%	1/31/2032	43,899		16,547	16,383
Spruce Bidco II Inc (4)(9)(25)	SF +	4.75%	8.41	%	1/31/2032	162,884		160,935	160,329
Spruce Bidco II Inc (4)(9)(38)	C +	4.75%	7.05	%	1/31/2032	CAD	34,650	23,637	24,035
Spruce Bidco II Inc (4)(9)(44)	TN +	5.00%	5.98	%	1/31/2032	JPY	3,706,771	23,648	22,434
Spruce Bidco II Inc (4)(9)(23)(25)	SF +	5.73%	9.39	%	1/31/2032	944		932	929
TecoStar Holdings Inc (4)(10)(25)	SF +	6.75% PIK	10.39	%	5/12/2032	223,437		220,503	223,437
Viant Medical Holdings, Inc. (7)(24)	SF +	4.00%	7.64	%	10/29/2031	13,248		13,197	12,505
Zeus Company LLC (4)(9)(25)	SF +	5.40%	9.13	%	2/28/2031	123,507		122,288	118,708
Zeus Company LLC (4)(9)(25)	SF +	5.40%	9.13	%	2/28/2031	11,417		11,299	10,974
Zeus Company LLC (4)(6)(9)(25)	SF +	5.40%	9.14	%	2/28/2030	21,506		3,388	2,876
Total Health Care Equipment & Supplies								875,352	869,063	7.21	%

Health Care Providers & Services
123Dentist Inc (4)(5)(9)(38)	C +	5.00%	7.28	%	8/10/2029	CAD	23,575	16,709	16,595
123Dentist Inc (4)(5)(9)(38)	C +	5.00%	7.28	%	8/10/2029	CAD	55,904	42,891	39,351
AB Centers Acquisition Corporation (4)(9)(24)	SF +	5.25%	8.89	%	7/2/2031	146,889		145,315	146,133
AB Centers Acquisition Corporation (4)(6)(9)(24)	SF +	5.25%	8.89	%	7/2/2031	25,262		12,126	12,304
AB Centers Acquisition Corporation (4)(9)(24)	SF +	5.25%	8.89	%	7/2/2031	49,606		49,293	49,350
AB Centers Acquisition Corporation (4)(9)(24)	SF +	5.25%	8.89	%	7/2/2031	119,800		119,038	119,183
AB Centers Acquisition Corporation (4)(6)(9)					7/2/2031	24,356		(227)	(125)
AB Centers Acquisition Corporation (4)(9)(23)(24)	SF +	6.32%	9.97	%	7/2/2031	1,320		1,311	1,301
AB Centers Acquisition Corporation (4)(9)(24)	SF +	5.25%	8.89	%	7/2/2031	3,277		3,256	3,261
AB Centers Acquisition Corporation (4)(9)(23)(24)	SF +	6.32%	9.97	%	7/2/2031	698		694	689
Aryeh Bidco Investment Ltd (4)(5)(6)(9)(39)	C +	5.00%	7.29	%	1/14/2033	CAD	34,074	3,322	2,999
Aryeh Bidco Investment Ltd (4)(5)(9)(39)	C +	5.00%	7.29	%	1/14/2033	CAD	183,025	130,612	126,680
Aryeh Bidco Investment Ltd (4)(5)(6)(9)(39)	C +	5.00%	7.29	%	1/14/2033	CAD	24,551	1,974	1,765
Aspen Dental Management Inc. (ADMI Corp) (8)(24)	SF +	3.75%	7.51	%	12/23/2027	3,251		3,223	2,924
Aspen Dental Management Inc. (ADMI Corp) (7)(24)	SF +	5.75%	9.39	%	12/23/2027	841		844	793
ATI Holdings Acquisition, Inc. (4)(5)(10)(25)	SF +	6.75%	10.53	%	2/24/2028	41,092		40,863	40,737
Baart Programs, Inc. (4)(10)(19)(25)	SF +	5.00% PIK			6/11/2027	10,018		9,935	6,413
Blazing Star Shields Direct Parent, LLC (4)(10)(25)	SF +	6.00%	9.67	%	8/28/2030	491,915		483,731	501,753
Blazing Star Shields Direct Parent, LLC (4)(6)(10)					8/28/2030	21,972		(365)	—
Charlotte Buyer Inc (8)(24)	SF +	4.50%	8.15	%	6/30/2031	12,375		12,251	12,379
Coding Solutions Acquisition, Inc. (4)(6)(9)					8/7/2031	6,558		(88)	—
Coding Solutions Acquisition, Inc. (4)(6)(9)					8/7/2031	16,674		(182)	—
Coding Solutions Acquisition, Inc. (4)(9)(24)	SF +	5.00%	8.64	%	8/7/2031	169,268		167,665	169,268
Coding Solutions Acquisition, Inc. (4)(9)(24)	SF +	5.00%	8.64	%	8/7/2031	19,022		18,788	19,022
Coding Solutions Acquisition, Inc. (4)(6)(9)					8/7/2031	25,062		(342)	—
Diagnostic Services Holdings, Inc. (4)(10)(24)	SF +	5.50%	9.12	%	3/15/2028	137,491		137,086	135,562
Diagnostic Services Holdings, Inc. (4)(6)(10)(24)	SF +	5.50%	9.12	%	3/15/2028	2,993		1,738	1,704
Diagnostic Services Holdings, Inc. (4)(10)(24)	SF +	5.50%	9.12	%	3/15/2028	2,862		2,769	2,822
EPFS Buyer, Inc. (4)(9)(25)	SF +	4.50%	8.23	%	7/31/2031	37,916		37,593	37,417
EPFS Buyer, Inc. (4)(6)(9)					7/31/2031	1,182		(11)	(16)
EPFS Buyer, Inc. (4)(6)(13)(45)	P +	3.50%	10.25	%	7/31/2031	3,814		883	865
ERC Topco Holdings, LLC (4)(10)(25)	SF +	6.50% PIK	10.49	%	3/31/2030	8,070		7,715	6,226
ERC Topco Holdings, LLC (4)(6)(10)(25)	SF +	5.50%	9.49	%	3/31/2030	1,561		1,244	1,356
FC Compassus LLC (4)(6)(7)					11/26/2030	19,127		(211)	—
FC Compassus LLC (4)(7)(25)	SF +	5.50% (incl 1.25% PIK)	9.17	%	11/26/2030	146,341		144,752	146,341
FC Compassus LLC (4)(6)(7)(24)	SF +	5.50% (incl 1.25% PIK)	9.17	%	11/26/2030	15,823		1,575	1,777

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
FC Compassus LLC (4)(7)(23)(25)	SF +	6.66% (incl 1.73% PIK)	10.33	%	11/26/2030	1,184		1,172	1,184
FC Compassus LLC (4)(6)(7)(23)(24)	SF +	6.98% (incl 2.07% PIK)	10.62	%	11/26/2030	128		13	15
Global Medical Response Inc (7)(24)	SF +	3.25%	6.89	%	10/1/2032	20,222		20,177	20,298
Indigo Purchaser, Inc. (4)(9)(25)	SF +	4.75%	8.48	%	11/21/2031	110,704		109,425	110,704
Indigo Purchaser, Inc. (4)(6)(9)(25)	SF +	4.75%	8.48	%	11/21/2031	25,579		7,471	7,808
Indigo Purchaser, Inc. (4)(6)(9)					11/21/2031	17,478		(202)	—
MB2 Dental Solutions, LLC (4)(9)(24)	SF +	5.50%	9.14	%	2/13/2031	133,926		132,502	133,437
MB2 Dental Solutions, LLC (4)(6)(9)(24)	SF +	5.50%	9.14	%	2/13/2031	13,909		1,903	2,036
MB2 Dental Solutions, LLC (4)(9)(24)	SF +	5.50%	9.14	%	2/13/2031	27,788		27,401	27,686
MB2 Dental Solutions, LLC (4)(9)(24)	SF +	5.50%	9.14	%	2/13/2031	19,522		19,233	19,451
NP Kaba Mergersub, Inc. (4)(8)(25)	SF +	4.50%	8.23	%	1/31/2033	173,342		172,527	170,060
NP Kaba Mergersub, Inc. (4)(6)(8)					1/31/2033	11,480		(56)	(217)
NP Kaba Mergersub, Inc. (4)(6)(8)					1/31/2033	20,394		(96)	(386)
Parexel International, Inc. (8)(24)	SF +	2.50%	6.14	%	12/12/2031	16,507		16,419	16,529
Pinnacle Fertility, Inc. (4)(9)(26)	SF +	4.50%	8.39	%	3/14/2028	26,331		26,176	26,331
Pinnacle Fertility, Inc. (4)(9)(26)	SF +	4.50%	8.48	%	3/14/2028	9,023		8,975	9,023
Plasma Buyer LLC (4)(9)(19)(25)	SF +	5.75% PIK			5/12/2029	91,148		81,936	40,520
Plasma Buyer LLC (4)(9)(19)(25)	SF +	5.75% PIK			5/12/2029	3,455		3,089	1,536
Plasma Buyer LLC (4)(6)(9)(19)(25)	SF +	5.75% PIK			5/12/2028	10,414		9,335	4,587
Plasma Buyer LLC (4)(6)(9)(19)(25)	SF +	6.25% PIK			3/31/2027	6,409		1,816	1,995
PPV Intermediate Holdings, LLC (4)(9)(25)	SF +	5.75%	9.42	%	8/31/2029	21,179		21,001	20,562
PPV Intermediate Holdings, LLC (4)(6)(9)(25)	SF +	5.75%	9.39	%	8/31/2029	2,965		1,011	951
Premise Health Holding Corp (4)(9)(25)	SF +	4.75%	8.48	%	11/8/2032	30,125		29,852	29,441
Premise Health Holding Corp (4)(6)(9)(25)	SF +	4.75%	8.48	%	11/8/2032	12,751		7,515	7,346
Premise Health Holding Corp (4)(6)(9)					11/6/2031	2,984		(27)	(62)
Prism One Buyer, LLC (4)(9)(26)	SF +	5.25%	9.10	%	10/11/2032	68,205		67,594	66,824
Prism One Buyer, LLC (4)(6)(9)					10/11/2032	18,000		(161)	(364)
PTSH Intermediate Holdings, LLC (4)(9)(25)	SF +	5.00%	8.73	%	1/8/2033	10,106		9,946	9,872
Solis Mammography Buyer, Inc. (4)(9)(25)	SF +	5.50% (incl 2.50% PIK)	9.23	%	5/29/2032	199,419		196,906	194,929
Solis Mammography Buyer, Inc. (4)(6)(9)					5/29/2032	19,774		(276)	(445)
Solis Mammography Buyer, Inc. (4)(6)(9)(25)	SF +	5.00%	8.74	%	5/29/2030	33,548		4,080	3,874
Southern Veterinary Partners LLC (7)(25)	SF +	2.50%	6.16	%	12/4/2031	5,794		5,761	5,795
Syneos Health Inc (7)(25)	SF +	4.00%	7.73	%	9/27/2030	14,808		14,744	14,845
Teca Lorien NZ Bidco Private Limited (4)(5)(8)(34)	BB +	5.25%	8.04	%	4/14/2032	NZD	94,856	55,000	53,220
Teca Lorien NZ Bidco Private Limited (4)(5)(6)(8)					4/14/2032	NZD	10,312	(74)	(71)
Tenet Healthcare Corp (5)(7)		5.13%	5.13	%	11/1/2027	2,695		2,705	2,696
Tivity Health Inc (4)(9)(24)	SF +	5.00%	8.64	%	6/28/2029	127,864		126,693	127,864
TTF Lower Intermediate LLC (7)(26)	SF +	3.75%	7.38	%	7/18/2031	11,996		11,850	8,883
United Musculoskeletal Partners Acquisition Holdings, LLC (4)(9)(25)	SF +	5.75%	9.43	%	7/17/2028	42,194		41,895	41,819
United Musculoskeletal Partners Acquisition Holdings, LLC (4)(9)(25)	SF +	5.75%	9.42	%	7/17/2028	25,876		25,700	25,646
United Musculoskeletal Partners Acquisition Holdings, LLC (4)(9)(25)	SF +	5.75%	9.41	%	7/17/2028	32,011		31,792	31,726
Vaxcare Intermediate II LLC (4)(8)(25)	SF +	4.25%	7.98	%	6/17/2032	59,258		58,753	59,258
Vaxcare Intermediate II LLC (4)(6)(12)(45)	P +	3.25%	10.00	%	6/17/2032	11,986		2,175	2,277
WCAS XIII Primary Care Investors, L.P. (4)(10)(25)	SF +	6.25%	9.98	%	12/31/2029	135,630		134,263	133,438
WCAS XIV Primary Care Investors, L.P. (4)(10)(25)	SF +	6.25%	9.98	%	12/31/2032	56,433		55,597	55,461
WCAS XIV Primary Care Investors, L.P. (4)(10)(25)	SF +	6.25%	9.98	%	12/31/2032	8,342		8,214	8,198
WCAS XIV Primary Care Investors, L.P. (4)(10)(25)	SF +	6.25%	9.98	%	12/31/2032	15,932		15,681	15,658

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
WCAS XIV Primary Care Investors, L.P. (4)(10)(25)	SF +	6.25%	9.98	%	12/31/2032	13,613		13,378	13,379
WCAS XIV Primary Care Investors, L.P. (4)(10)(25)	SF +	6.25%	9.98	%	12/31/2032	3,581		3,517	3,519
WCAS XIV Primary Care Investors, L.P. (4)(10)(25)	SF +	6.25%	9.98	%	12/31/2032	8,450		8,294	8,305
Total Health Care Providers & Services								3,190,365	3,144,270	26.09	%

Health Care Technology
AthenaHealth Group Inc. (8)(24)	SF +	2.75%	6.39	%	2/15/2029	6,345		6,305	6,340
HT Intermediary III, Inc. (4)(9)(25)	SF +	4.50%	8.24	%	11/12/2030	10,286		10,234	10,286
HT Intermediary III, Inc. (4)(9)(24)	SF +	4.50%	8.15	%	11/12/2030	41,792		41,639	41,792
HT Intermediary III, Inc. (4)(6)(9)(26)	SF +	4.50%	8.24	%	11/12/2030	3,857		1,400	1,414
Project Ruby Ultimate Parent Corp (7)(24)	SF +	2.75%	6.51	%	3/10/2028	22,520		22,471	22,518
Zelis Payments Buyer, Inc. (7)(24)	SF +	2.75%	6.39	%	9/28/2029	10,746		10,716	10,509
Zelis Payments Buyer, Inc. (7)(24)	SF +	3.25%	6.89	%	11/26/2031	4,925		4,906	4,816
Total Health Care Technology								97,671	97,675	0.81	%

Hotels, Restaurants & Leisure
Birdie Bidco, Inc. (4)(9)(25)	SF +	4.75% (incl 2.25% PIK)	8.48	%	11/17/2032	105,522		105,044	104,066
Birdie Bidco, Inc. (4)(6)(9)(25)	SF +	4.75% (incl 2.25% PIK)	8.48	%	11/17/2032	30,319		5,022	4,748
Birdie Bidco, Inc. (4)(6)(9)					11/17/2032	18,850		(86)	(260)
Crunch Holdings LLC (4)(9)(24)	SF +	4.50%	8.14	%	9/26/2031	58,061		57,820	58,061
Crunch Holdings LLC (4)(6)(9)					9/26/2031	7,922		(33)	—
Fertitta Entertainment LLC (8)(24)	SF +	3.25%	6.89	%	1/27/2029	9,701		9,550	9,702
Flynn Restaurant Group LP (7)(24)	SF +	3.75%	7.39	%	1/28/2032	19,940		19,860	19,771
HB AcquisitionCo Pty Ltd (4)(5)(8)(36)	B +	6.50%	11.04	%	8/7/2029	AUD	32,211	21,350	22,160
HB AcquisitionCo Pty Ltd (4)(5)(8)(36)	B +	6.50%	11.03	%	8/7/2029	AUD	3,579	2,321	2,462
LC Ahab US Bidco LLC (7)(24)	SF +	2.50%	6.14	%	5/1/2031	10,036		9,902	10,044
Legends Global Holding Co LLC (4)(9)(25)	SF +	5.00%	8.66	%	8/22/2031	5,474		5,386	5,242
Legends Global Holding Co LLC (4)(6)(9)(24)	SF +	5.00%	8.64	%	8/22/2030	14,733		3,848	3,327
Legends Global Holding Co LLC (4)(9)(25)	SF +	5.50% (incl 2.75% PIK)	9.16	%	8/22/2031	96,963		95,027	92,840
ONE Group, LLC (4)(10)(25)	SF +	6.50%	10.16	%	5/1/2029	14,363		14,119	14,009
ONE Group, LLC (4)(6)(7)(25)	SF +	6.00%	9.67	%	10/31/2028	6,649		728	628
Pioneer Opco LLC (7)(24)	SF +	3.25%	6.89	%	5/15/2033	4,000		3,980	4,020
Saga Mid Co Limited (4)(5)(10)(32)	SN +	6.50%	10.24	%	2/27/2031	GBP	100,868	124,651	137,826
Saga Mid Co Limited (4)(5)(6)(10)					2/27/2031	GBP	30,110	(842)	1,198
Saga Mid Co Limited (4)(5)(6)(10)					2/27/2031	GBP	4,998	(127)	199
Travel Leaders Group, LLC (4)(14)(24)	SF +	6.50%	10.24	%	3/27/2028	144,672		143,508	143,025
TWG SPORTS LLC (4)(10)(25)	SF +	6.50%	10.24	%	6/30/2027	62,500		61,565	61,563
Voyager Parent LLC (7)(25)	SF +	4.25%	7.98	%	7/1/2032	14,708		14,330	14,736
Total Hotels, Restaurants & Leisure								696,923	709,367	5.89	%

Household Durables
Marcone Group Inc (4)(9)(25)	SF +	7.00% (incl 3.25% PIK)	10.83	%	6/23/2028	51,981		51,722	42,721
Marcone Group Inc (4)(9)(25)	SF +	7.00% (incl 3.25% PIK)	10.83	%	6/23/2028	12,456		12,416	10,237
Marcone Group Inc (4)(9)(25)	SF +	7.00% (incl 3.25% PIK)	10.83	%	6/23/2028	13,789		13,745	11,332
Marcone Group Inc (4)(9)(25)	SF +	7.00% (incl 3.25% PIK)	10.83	%	6/23/2028	4,582		4,567	3,766
Total Household Durables								82,450	68,056	0.56	%

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets

Independent Power and Renewable Electricity Producers
Dimension Energy LLC (4)(6)(14)(25)	SF +	4.00%	7.73	%	2/29/2028	60,064		37,453	37,232
Hamilton Projects Acquiror LLC (7)(24)	SF +	2.50%	6.14	%	5/30/2031	19,100		19,059	19,190
IP Operations II Investco, LLC (4)(15)(26)	SF +	6.50%	10.35	%	6/26/2029	23,013		22,738	22,897
Palmetto TE Borrower LLC (4)(14)(25)	SF +	5.50%	9.23	%	11/1/2027	171,723		170,604	170,191
Palmetto TE Borrower LLC (4)(6)(14)					11/1/2027	651		(4)	(6)
Sunzia UpperCo LLC (4)(16)(24)	SF +	5.00%	8.73	%	7/7/2026	25,000		25,000	25,000
Total Independent Power and Renewable Electricity Producers								274,850	274,504	2.28	%

Insurance
Acrisure LLC (7)(24)	SF +	3.00%	6.64	%	11/6/2030	18,535		18,528	16,813
Acrisure LLC (7)(24)	SF +	3.25%	6.89	%	6/21/2032	2,583		2,577	2,342
Alera Group, Inc. (8)(24)	SF +	2.75%	6.39	%	5/30/2032	7,940		7,906	7,566
Alliant Holdings Intermediate, LLC (7)(24)	SF +	2.50%	6.14	%	9/19/2031	18,418		18,303	18,194
AmWINS Group Inc (9)(25)	SF +	2.00%	5.73	%	1/30/2032	10,066		10,056	9,870
Amynta Agency Borrower Inc (7)(24)	SF +	2.50%	6.14	%	12/29/2031	19,940		19,636	19,707
CRC Insurance Group LLC (7)(25)	SF +	2.75%	6.48	%	5/6/2031	10,049		10,014	9,835
Galway Borrower LLC (4)(9)(25)	SF +	4.50%	8.23	%	9/29/2028	28,275		28,237	27,761
Galway Borrower LLC (4)(6)(9)(25)	SF +	4.50%	8.24	%	9/29/2028	1,079		340	323
Galway Borrower LLC (4)(6)(9)					9/29/2028	2,578		(12)	(47)
Global Service GmbH (4)(5)(7)(30)	E +	5.00%	7.43	%	4/29/2033	EUR	16,205	18,833	18,336
Global Service GmbH (4)(5)(6)(7)(30)	E +	5.00%	7.61	%	4/29/2033	EUR	4,051	212	210
Goosehead Insurance Holdings LLC (4)(5)(7)(24)	SF +	3.00%	6.64	%	1/8/2032	3,474		3,467	3,439
Higginbotham Insurance Agency Inc (4)(10)(24)	SF +	4.50%	8.14	%	6/11/2031	41,837		41,605	41,837
Higginbotham Insurance Agency Inc (4)(10)(24)	SF +	4.50%	8.14	%	6/11/2031	3,824		3,792	3,824
HUB International Ltd (7)		7.25%	7.25	%	6/15/2030	10,517		10,517	10,798
HUB International Ltd (7)(25)	SF +	2.25%	5.92	%	6/20/2030	11,569		11,494	11,570
Integrity Marketing Acquisition LLC (4)(6)(9)					8/25/2028	299		(1)	(1)
Integrity Marketing Acquisition LLC (4)(6)(9)					8/25/2028	1,117		(9)	(3)
Integrity Marketing Acquisition LLC (4)(9)(25)	SF +	5.00%	8.67	%	8/25/2028	64,314		64,096	64,115
Koala Investment Holdings Inc (4)(9)(25)	SF +	4.25%	7.99	%	8/29/2032	118,126		117,086	115,680
Koala Investment Holdings Inc (4)(6)(9)(25)	SF +	4.25%	7.94	%	8/29/2032	11,529		6,009	5,872
Koala Investment Holdings Inc (4)(6)(9)					8/29/2032	22,775		(214)	(471)
Netrisk Group Luxco 4 S.A.R.L. (4)(5)(6)(7)					2/5/2032	EUR	2,789	(40)	(25)
Netrisk Group Luxco 4 S.A.R.L. (4)(5)(7)(29)	E +	4.75%	7.04	%	2/5/2032	EUR	36,820	37,875	42,070
Netrisk Group Luxco 4 S.A.R.L. (4)(5)(6)(7)					2/5/2032	EUR	6,694	(104)	—
OneDigital Borrower LLC (8)(24)	SF +	3.00%	6.64	%	7/2/2031	14,588		14,540	14,172
Pareto Health Intermediate Holdings, Inc. (4)(6)(10)					6/1/2029	4,032		(59)	(60)
Pareto Health Intermediate Holdings, Inc. (4)(10)(25)	SF +	5.00%	8.73	%	6/1/2030	83,921		82,929	82,675
Summit Acquisition Inc. (7)(24)	SF +	3.50%	7.14	%	10/16/2031	17,325		17,260	17,340
Trucordia Insurance Services LLC (7)(24)	SF +	3.25%	6.98	%	6/17/2032	6,863		6,848	6,142
USI Inc (7)(25)	SF +	2.25%	5.98	%	9/29/2030	12,679		12,664	12,644
USI Inc (7)(25)	SF +	2.25%	5.98	%	11/21/2029	1,895		1,895	1,891
Total Insurance								566,280	564,419	4.68	%

Interactive Media & Services
Aurelia Netherlands Midco 2 B.V. (4)(5)(7)(29)	E +	4.75%	6.95	%	5/29/2031	EUR	125,373	137,929	141,693
Cadillac Bidco S.À R.L. (4)(5)(7)(31)	E +	4.75%	6.93	%	2/28/2033	EUR	43,415	51,060	48,796

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
Total Interactive Media & Services								188,989	190,489	1.58	%

IT Services
Delta Topco, Inc. (7)(25)	SF +	2.75%	6.40	%	11/30/2029	18,908		18,867	17,936
GovCIO Buyer Company (4)(9)(24)	SF +	4.75%	8.39	%	7/9/2031	140,254		138,450	137,062
Hostinger Investments Sarl (4)(5)(7)(28)	E +	4.75%	6.69	%	11/19/2032	EUR	39,880	45,724	45,445
Hostinger Investments Sarl (4)(5)(7)(28)	E +	4.75%	7.04	%	11/19/2032	EUR	119,640	135,986	136,334
Mediaocean LLC (8)(24)	SF +	3.50%	7.24	%	12/15/2028	6,719		6,716	6,457
Meralm Bidco AB (4)(5)(8)(30)	E +	6.50% (incl 2.25% PIK)	8.64	%	8/29/2031	EUR	33,978	37,182	32,630
Meralm Bidco AB (4)(5)(8)(26)	SF +	6.50% (incl 2.25% PIK)	10.23	%	8/29/2031	14,168		14,016	11,907
Meralm Bidco AB (4)(5)(8)(42)	ST +	6.50% (incl 2.25% PIK)	8.53	%	8/29/2031	SEK	427,755	41,292	37,073
Meralm Bidco AB (4)(5)(8)(40)	N +	6.50% (incl 2.25% PIK)	10.82	%	8/29/2031	NOK	272,456	25,448	23,139
Meralm Bidco AB (4)(5)(8)(30)	E +	9.25%	11.39	%	8/29/2031	EUR	50,140	54,937	52,444
Meralm Bidco AB (4)(5)(6)(8)					8/29/2031	EUR	5,188	(75)	(946)
Total IT Services								518,543	499,481	4.15	%

Life Sciences Tools & Services
Advarra Holdings, Inc. (4)(9)(24)	SF +	4.50%	8.14	%	9/15/2031	125,639		125,172	125,639
Advarra Holdings, Inc. (4)(6)(9)					9/15/2031	6,020		(26)	—
Advarra Holdings, Inc. (4)(10)(24)	SF +	4.50%	8.14	%	9/15/2031	67,726		66,836	67,726
Advarra Holdings, Inc. (4)(9)(24)	SF +	4.50%	8.14	%	9/15/2031	14,636		14,571	14,636
Bamboo US BidCo LLC (4)(10)(25)	SF +	5.25%	8.91	%	9/30/2030	2,833		2,811	2,725
Bamboo US BidCo LLC (4)(10)(25)	SF +	5.25%	8.91	%	9/30/2030	2,848		2,824	2,739
Bamboo US BidCo LLC (4)(10)(25)	SF +	5.25%	8.91	%	9/30/2030	82,155		80,712	79,017
Bamboo US BidCo LLC (4)(6)(10)(24)	SF +	5.25%	8.89	%	10/1/2029	21,254		7,094	6,788
Bamboo US BidCo LLC (4)(10)(25)	SF +	5.25%	8.91	%	9/30/2030	15,288		14,988	14,704
Bamboo US BidCo LLC (4)(10)(29)	E +	5.25%	7.40	%	9/30/2030	EUR	62,182	64,625	68,256
Cambrex Corporation (4)(9)(24)	SF +	4.75%	8.39	%	3/8/2032	33,703		33,430	33,046
Cambrex Corporation (4)(6)(9)(24)	SF +	4.75%	8.36	%	3/8/2032	5,648		1,568	1,503
Cambrex Corporation (4)(9)(24)	SF +	4.75%	8.39	%	3/8/2032	5,043		4,999	4,945
PerkinElmer U.S. LLC (4)(10)(25)	SF +	4.50%	8.17	%	3/13/2029	21,608		21,522	21,444
PerkinElmer U.S. LLC (4)(10)(25)	SF +	4.50%	8.17	%	3/13/2029	253,534		250,523	251,612
Phantom Purchaser Inc (4)(9)(25)	SF +	4.75%	8.48	%	9/19/2031	100,039		99,214	98,879
Phantom Purchaser Inc (4)(6)(9)					9/19/2031	15,545		(128)	(180)
WCG Intermediate Corp (7)(24)	SF +	2.75%	6.39	%	2/25/2032	7,589		7,589	7,543
Total Life Sciences Tools & Services								798,324	801,022	6.65	%

Machinery
Indicor LLC (7)(24)	SF +	2.50%	6.14	%	11/22/2029	20,242		19,932	20,255
LSF12 Donnelly Bidco, LLC (4)(10)(24)	SF +	6.50%	10.14	%	10/2/2029	19,380		19,117	19,380
Lsf12 Helix Parent LLC (7)(24)	SF +	3.50%	7.14	%	2/10/2033	17,352		16,894	17,059
Madison Safety & Flow LLC (10)(45)	P +	1.50%	8.25	%	9/26/2031	3,215		3,209	3,223
Radwell Parent, LLC (4)(9)(25)	SF +	4.75%	8.48	%	4/2/2029	149,939		147,968	149,324
Radwell Parent, LLC (4)(6)(9)(25)	SF +	4.75%	8.48	%	4/3/2028	13,271		3,430	3,503
Rotation Buyer, LLC (4)(6)(9)(25)	SF +	4.75%	8.42	%	12/27/2031	17,009		4,047	3,267
Rotation Buyer, LLC (4)(6)(9)(25)	SF +	4.75%	8.48	%	12/27/2031	8,731		3,634	3,225
Rotation Buyer, LLC (4)(9)(25)	SF +	4.75%	8.48	%	12/27/2031	65,709		65,193	62,122
Time Manufacturing Holdings LLC (4)(6)(9)(24)	SF +	6.50%	10.25	%	12/1/2027	1,001		995	820

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
Time Manufacturing Holdings LLC (4)(9)(29)	E +	6.50%	8.65	%	12/1/2027	EUR	4,762	5,006	4,431
Time Manufacturing Holdings LLC (4)(9)(29)	E +	6.50%	8.65	%	12/1/2027	EUR	8,386	9,427	7,804
Time Manufacturing Holdings LLC (4)(9)(25)	SF +	6.50%	10.31	%	12/1/2027	12,090		12,026	9,916
TK Elevator US Newco Inc (5)(8)(26)	SF +	2.75%	6.38	%	4/30/2030	14,844		14,731	14,925
Total Machinery								325,609	319,254	2.65	%

Media
2080 Media, Inc. (4)(9)(25)	SF +	4.75%	8.48	%	3/14/2029	53,172		52,742	53,035
2080 Media, Inc. (4)(6)(9)(25)	SF +	4.75%	8.48	%	3/14/2028	13,795		5,440	5,504
2080 Media, Inc. (4)(9)(25)	SF +	4.75%	8.48	%	3/14/2029	12,329		12,240	12,298
2080 Media, Inc. (4)(9)(25)	SF +	4.75%	8.48	%	3/14/2029	9,932		9,865	9,907
2080 Media, Inc. (4)(6)(9)(25)	SF +	4.75%	8.41	%	3/14/2029	27,282		3,588	3,749
2080 Media, Inc. (4)(9)(25)	SF +	4.75%	8.42	%	3/14/2029	8,741		8,670	8,719
Arc Media Holdings Limited (4)(5)(10)(25)	SF +	7.25%	11.06	%	10/29/2027	39,914		39,645	39,914
Arc Media Holdings Limited (4)(5)(6)(10)(25)	SF +	7.25%	11.06	%	10/29/2027	2,766		2,596	2,614
AS1 Sports Bidco Ltd (4)(5)(8)(29)	E +	5.50%	7.67	%	4/9/2033	EUR	17,406	20,163	19,696
AS1 Sports Bidco Ltd (4)(5)(6)(8)					4/9/2033	EUR	2,785	(32)	(31)
AS1 Sports Bidco Ltd (4)(5)(6)(8)					10/9/2026	EUR	1,392	(2)	(4)
Law Business Research Inc. (4)(5)(8)(26)	SF +	5.23%	8.89	%	5/19/2031	33,214		32,590	32,995
LOCI Bidco Limited (4)(5)(8)(32)	SN +	5.23%	9.01	%	5/19/2031	GBP	52,719	65,818	69,476
LOCI Bidco Limited (4)(5)(8)(26)	SF +	5.23%	8.85	%	5/19/2031	8,667		8,516	8,610
Total Media								261,839	266,482	2.21	%

Metals & Mining
Alchemy US Holdco 1 LLC (4)(10)(25)	SF +	6.50%	10.16	%	7/31/2029	116,774		113,604	105,744
Alchemy US Holdco 1 LLC (4)(10)(29)	E +	6.50%	8.65	%	7/31/2029	EUR	24,639	25,946	25,341
Alchemy US Holdco 1 LLC (4)(10)(25)	SF +	6.50%	10.16	%	7/31/2029	1,277		1,242	1,156
BLY US Holdings Inc. (4)(5)(10)(25)	SF +	6.00%	9.73	%	4/10/2029	54,943		54,171	53,556
BLY US Holdings Inc. (4)(5)(10)(25)	SF +	6.00%	9.73	%	4/10/2029	14,767		14,456	14,394
Star Holding LLC (7)(24)	SF +	4.50%	8.14	%	7/31/2031	4,221		4,204	4,227
Total Metals & Mining								213,623	204,418	1.70	%

Oil, Gas & Consumable Fuels
Eagle LNG Partners Jacksonville II LLC (4)(7)		13.50% (incl 6.35% PIK)	13.50	%	4/26/2029	950		935	841
Total Oil, Gas & Consumable Fuels								935	841	0.01	%

Personal Care Products
MRO Maryruth LLC (4)(7)(25)	SF +	3.25%	6.98	%	9/30/2030	48,081		47,825	48,062
MRO Maryruth LLC (4)(9)(25)	SF +	4.75%	8.48	%	9/30/2031	18,858		18,713	18,848
Parfums Holding Company, Inc. (4)(10)(25)	SF +	5.00%	8.73	%	6/27/2030	115,225		114,458	115,225
Parfums Holding Company, Inc. (4)(6)(10)					6/27/2029	9,034		(54)	—
Total Personal Care Products								180,942	182,135	1.51	%

Pharmaceuticals
Amneal Pharmaceuticals LLC (5)(8)(24)	SF +	3.00%	6.64	%	8/2/2032	7,742		7,725	7,784
Atlas Borrower, LLC (4)(8)(25)	SF +	4.25%	7.98	%	9/4/2032	82,718		81,987	82,718
Atlas Borrower, LLC (4)(6)(8)					9/4/2032	15,234		(134)	—
Azurity Pharmaceuticals Inc (4)(10)(25)	SF +	7.00%	10.73	%	3/14/2030	225,527		222,185	215,091
Azurity Pharmaceuticals Inc (4)(10)(25)	SF +	7.00%	10.73	%	3/14/2030	20,537		20,234	19,587
Creek Parent, Inc. (4)(9)(24)	SF +	5.00%	8.64	%	12/18/2031	119,633		118,105	117,778

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
Creek Parent, Inc. (4)(6)(9)					12/18/2031	22,379		(284)	(347)
Creek Parent, Inc. (4)(9)(23)(24)	SF +	6.08%	9.72	%	12/18/2031	1,204		1,188	1,185
Endo Finance Holdings Inc (8)(24)	SF +	3.75%	7.39	%	4/23/2031	8,071		8,012	8,086
Gusto Aus Bidco Pty Ltd (4)(5)(8)(36)	B +	4.75%	9.12	%	11/15/2031	AUD	243,533	156,205	168,598
Gusto Aus Bidco Pty Ltd (4)(5)(6)(8)					11/15/2031	AUD	24,086	(99)	—
Total Pharmaceuticals								615,124	620,480	5.15	%

Professional Services
Baker Tilly Advisory Group, LP (4)(9)(24)	SF +	4.75%	8.39	%	6/3/2031	116,631		115,385	115,321
Baker Tilly Advisory Group, LP (4)(9)(24)	SF +	4.25%	7.89	%	6/3/2031	28,285		28,051	27,946
Baker Tilly Advisory Group, LP (4)(6)(9)					6/3/2030	27,686		(263)	(304)
Captive Resources Midco LLC (4)(6)(9)					7/3/2028	7,558		(50)	—
Captive Resources Midco LLC (4)(9)(24)	SF +	4.50%	8.23	%	7/2/2029	90,960		90,210	90,960
Chartis Group LLC (4)(9)(25)	SF +	4.25%	7.98	%	9/17/2031	80,570		79,970	80,570
Chartis Group LLC (4)(6)(9)(25)	SF +	4.25%	7.98	%	9/17/2031	25,003		5,925	6,140
Chartis Group LLC (4)(6)(9)					9/17/2031	14,716		(109)	—
Citrin Cooperman Advisors LLC (7)(25)	SF +	3.00%	6.73	%	4/1/2032	14,368		14,229	14,004
CohnReznick Advisory LLC (7)(25)	SF +	3.25%	6.95	%	3/31/2032	10,937		10,892	10,696
CohnReznick Advisory LLC (6)(7)					3/31/2032	635		(3)	(14)
Grant Thornton Advisors Holdings LLC (7)(24)	SF +	2.75%	6.39	%	6/2/2031	15,015		15,015	14,325
Guidehouse Inc. (4)(9)(24)	SF +	4.75%	8.39	%	12/16/2030	189,936		188,491	181,702
IG Investments Holdings, LLC (4)(6)(13)					9/22/2028	10,221		(60)	—
IG Investments Holdings, LLC (4)(9)(25)	SF +	5.00%	8.66	%	9/22/2028	87,567		87,297	87,567
IRI Group Holdings, Inc. (4)(9)(24)	SF +	4.25%	7.89	%	12/1/2029	206,163		204,928	206,163
IRI Group Holdings, Inc. (4)(6)(13)					12/1/2028	19,562		(102)	—
Planet US Buyer LLC (5)(7)(25)	SF +	3.00%	6.66	%	2/7/2031	7,350		7,338	7,386
Railpros Parent LLC (4)(9)(25)	SF +	4.25%	7.89	%	5/24/2032	24,646		24,439	24,646
Railpros Parent LLC (4)(6)(9)					5/24/2032	3,832		(32)	—
Sedgwick Claims Management Services Inc (7)(24)	SF +	2.50%	6.14	%	7/31/2031	18,776		18,646	18,571
Spirit RR Holdings, Inc. (4)(9)(25)	SF +	4.50%	8.33	%	9/13/2028	42,015		41,675	42,015
Spirit RR Holdings, Inc. (4)(6)(9)					9/13/2028	3,579		(28)	—
Spirit RR Holdings, Inc. (4)(9)(25)	SF +	4.76%	8.59	%	9/13/2028	5,874		5,828	5,874
Spirit RR Holdings, Inc. (4)(9)(25)	SF +	4.76%	8.59	%	9/13/2028	2,956		2,936	2,956
YA Intermediate Holdings II LLC (4)(9)(25)	SF +	5.00%	8.73	%	10/1/2031	46,855		46,679	46,521
YA Intermediate Holdings II LLC (4)(6)(9)(24)	SF +	5.00%	8.71	%	10/1/2031	19,772		6,145	6,138
YA Intermediate Holdings II LLC (4)(6)(13)(45)	P +	4.00%	10.75	%	10/1/2031	9,750		5,293	5,261
Total Professional Services								998,725	994,444	8.25	%

Real Estate Management & Development
Associations Inc. (4)(10)(25)	SF +	6.50%	10.42	%	7/3/2028	54,716		54,689	54,716
Associations Inc. (4)(6)(10)(25)	SF +	6.50%	10.42	%	7/3/2028	4,289		2,257	2,259
Associations Inc. (4)(6)(10)					7/3/2028	3,459		(2)	—
Total Real Estate Management & Development								56,944	56,975	0.47	%

Semiconductors & Semiconductor Equipment
Altar Bidco Inc (8)(27)	SF +	3.35%	6.86	%	2/1/2029	8,645		8,616	8,651
CoreWeave Financing DDTL V, LLC (6)(7)(46)	SF +	4.50%	8.18	%	11/17/2031	2,500		863	942
TechInsights Inc (4)(5)(10)(23)(25)	SF +	5.80%	9.68	%	11/9/2030	2,487		2,474	2,443
TechInsights Inc (4)(5)(10)(23)(25)	SF +	5.80%	9.68	%	11/9/2030	958		952	941
TechInsights Inc (4)(5)(6)(10)					11/9/2030	21,537		(261)	(380)
Total Semiconductors & Semiconductor Equipment								12,644	12,597	0.10	%

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets

Software
Armstrong Bidco Limited (4)(5)(7)(32)	SN +	5.25%	8.98	%	6/28/2029	GBP	67,987	81,946	88,241
Armstrong Bidco Limited (4)(5)(7)(32)	SN +	5.25%	8.98	%	6/28/2029	GBP	35,471	41,643	46,039
Artifact Bidco, Inc. (4)(8)(25)	SF +	4.15%	7.88	%	7/26/2031	45,788		45,457	45,788
Artifact Bidco, Inc. (4)(6)(8)					7/26/2031	11,207		(97)	—
Artifact Bidco, Inc. (4)(6)(8)					7/26/2030	5,443		(37)	—
Artifact Bidco, Inc. (4)(6)(8)					7/26/2030	2,562		(17)	—
Artisan Bidco, Inc. (4)(10)(29)	E +	7.00%	9.17	%	11/7/2029	EUR	18,149	19,141	19,722
Artisan Bidco, Inc. (4)(10)(25)	SF +	7.00%	10.68	%	11/7/2029	39,000		38,455	37,211
Artisan Bidco, Inc. (4)(6)(10)(25)	SF +	7.00%	10.68	%	11/7/2029	6,000		4,816	4,625
Artisan Bidco, Inc. (4)(10)(25)	SF +	7.00%	10.68	%	11/7/2029	985		978	940
Auditboard, Inc. (4)(6)(9)					7/14/2031	30,286		(218)	(772)
Auditboard, Inc. (4)(9)(25)	SF +	5.00%	8.73	%	7/14/2031	159,000		157,856	154,946
Auditboard, Inc. (4)(9)(25)	SF +	5.00%	8.73	%	7/14/2031	75,714		75,102	73,784
Auditboard, Inc. (4)(9)(25)	SF +	5.00%	8.73	%	7/14/2031	9,751		9,685	9,502
Avalara, Inc. (7)(25)	SF +	2.50%	6.23	%	3/26/2032	13,225		13,165	12,696
BMC Software Inc. (7)(25)	SF +	2.75%	6.42	%	7/30/2031	2,963		2,935	2,678
Boreal Bidco (4)(5)(7)(29)	E +	7.00% (incl 4.00% PIK)	9.29	%	3/26/2032	EUR	52,186	55,441	57,789
Bottomline Technologies, Inc. (4)(6)(9)					5/15/2028	385		(1)	(3)
Bottomline Technologies, Inc. (4)(9)(25)	SF +	4.50%	8.23	%	5/13/2029	4,444		4,425	4,412
Central Parent LLC (7)(25)	SF +	3.25%	6.98	%	7/6/2029	18,292		18,254	12,073
Cloud Software Group LLC (7)		6.50%	6.50	%	3/31/2029	7,740		7,184	7,524
Cloud Software Group LLC (7)(25)	SF +	3.25%	6.98	%	8/13/2032	13,895		13,895	12,066
Cloud Software Group LLC (7)(25)	SF +	3.25%	6.98	%	3/21/2031	4,729		4,729	4,162
Coupa Holdings, LLC (4)(9)(25)	SF +	5.25%	8.91	%	2/27/2030	78,181		77,222	78,181
Coupa Holdings, LLC (4)(6)(9)(25)	SF +	5.25%	8.90	%	2/27/2029	6,211		4,072	4,141
Coupa Holdings, LLC (4)(9)(25)	SF +	5.25%	8.90	%	2/27/2030	7,123		7,027	7,123
DigiCert Inc (4)(9)(24)	SF +	5.75%	9.39	%	7/30/2030	326,644		322,644	315,614
DigiCert Inc (4)(9)(23)(24)	SF +	6.61%	10.25	%	7/30/2030	1,985		1,961	1,917
DigiCert Inc (4)(6)(9)					7/30/2030	35,060		(429)	(1,184)
EasyPark Strategy AB (4)(5)(8)(26)	SF +	4.75%	8.60	%	12/19/2030	45,577		45,066	44,569
EasyPark Strategy AB (4)(5)(8)(40)	N +	4.75%	9.58	%	12/19/2030	NOK	234,246	20,261	23,153
EasyPark Strategy AB (4)(5)(8)(30)	E +	4.75%	7.35	%	12/19/2030	EUR	74,735	76,684	83,478
EasyPark Strategy AB (4)(5)(8)(32)	SN +	4.75%	8.48	%	12/19/2031	GBP	29,019	35,727	37,633
EasyPark Strategy AB (4)(5)(8)(30)	E +	4.75%	7.35	%	12/19/2030	EUR	8,569	9,901	9,571
Edition Holdings Inc (4)(9)(24)	SF +	4.50%	8.14	%	12/20/2032	72,079		71,829	70,826
Edition Holdings Inc (4)(6)(9)					12/20/2032	15,048		(54)	(262)
Edition Holdings Inc (4)(6)(9)(25)	SF +	4.50%	8.15	%	12/20/2032	6,722		226	132
Einstein Parent Inc (4)(9)(25)	SF +	5.25%	8.91	%	1/22/2031	94,062		92,632	90,616
Einstein Parent Inc (4)(6)(9)					1/22/2031	9,745		(148)	(357)
Elements Finco Limited (4)(5)(7)(32)	SN +	5.50% (incl 2.50% PIK)	9.23	%	4/29/2031	GBP	26,894	33,631	35,145
Elements Finco Limited (4)(5)(7)(32)	SN +	5.25% (incl 2.25% PIK)	8.98	%	4/29/2031	GBP	40,108	49,860	52,414
Elements Finco Limited (4)(5)(7)(24)	SF +	5.25% (incl 2.25% PIK)	8.89	%	4/29/2031	8,390		8,334	8,261
Elements Finco Limited (4)(5)(7)(24)	SF +	5.25% (incl 2.25% PIK)	8.89	%	4/29/2031	6,983		6,936	6,876
Elements Finco Limited (4)(5)(7)(32)	SN +	5.50% (incl 2.50% PIK)	9.23	%	4/29/2031	GBP	12,056	15,071	15,755

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units		Amortized Cost(3)	Fair Value	Percentage of Net Assets
Espresso Bidco Inc. (4)(9)(25)	SF +	5.75% (incl 3.13% PIK)	9.48	%	3/25/2032	53,869		53,234	51,772
Espresso Bidco Inc. (4)(6)(9)(25)	SF +	5.75% (incl 3.13% PIK)	9.48	%	3/25/2032	14,483		13,139	12,765
Espresso Bidco Inc. (4)(6)(9)					3/25/2032	6,370		(78)	(248)
Flexera Software LLC (4)(8)(28)	E +	4.50%	6.71	%	8/15/2032	EUR	65,335	76,307	72,196
Flexera Software LLC (4)(8)(25)	SF +	4.50%	8.15	%	8/15/2032	199,944		199,506	194,336
Flexera Software LLC (4)(6)(8)					8/15/2032	16,806		(37)	(471)
Huskies Parent Inc (4)(9)(24)	SF +	6.00% (incl 0.50% PIK)	9.74	%	11/5/2029	24,586		24,418	22,456
Huskies Parent Inc (4)(9)(24)	SF +	6.00%	9.74	%	11/5/2029	1,046		1,029	955
Huskies Parent Inc (4)(6)(9)(24)	SF +	5.50%	9.25	%	11/5/2029	1,000		112	28
ION Platform Finance US Inc (7)(25)	SF +	3.75%	7.48	%	10/7/2032	18,301		18,134	13,245
Kaseya Inc (7)(25)	SF +	3.25%	6.91	%	3/22/2032	20,212		20,115	15,732
Kona Buyer LLC (4)(9)(25)	SF +	4.50%	8.17	%	7/23/2031	111,432		110,626	109,282
Kona Buyer LLC (4)(9)(25)	SF +	4.50%	8.17	%	7/23/2031	6,539		6,490	6,413
Kona Buyer LLC (4)(9)(25)	SF +	4.50%	8.17	%	7/23/2031	1,840		1,827	1,805
Kona Buyer LLC (4)(6)(9)					7/23/2031	61,081		(296)	(1,178)
Kona Buyer LLC (4)(6)(9)(25)	SF +	4.50%	8.16	%	6/27/2032	22,559		2,271	1,982
Kpler Finance SA (4)(5)(8)(26)	SF +	7.25% (incl 3.88% PIK)	10.93	%	4/25/2031	72,628		71,785	71,003
Kpler Finance SA (4)(5)(8)(26)	SF +	7.25% (incl 3.88% PIK)	10.93	%	4/25/2031	72,628		71,785	71,003
Kpler Finance SA (4)(5)(6)(8)(26)	SF +	7.00%	10.68	%	10/25/2030	20,000		17,763	17,574
Kpler Finance SA (4)(5)(6)(8)(26)	SF +	7.25% (incl 3.88% PIK)	10.93	%	10/25/2030	20,090		5,827	5,662
Kryptona Bidco US, LLC (4)(6)(9)					12/18/2031	16,852		(263)	(278)
Kryptona Bidco US, LLC (4)(9)(25)	SF +	5.75% (incl 3.13% PIK)	9.42	%	12/18/2031	161,894		159,484	159,219
Kryptona Bidco US, LLC (4)(7)(30)	E +	5.75% (incl 3.13% PIK)	8.06	%	12/18/2031	EUR	37,466	38,470	42,093
Kryptona Bidco US, LLC (4)(9)(30)	E +	5.75% (incl 3.13% PIK)	8.06	%	12/18/2031	EUR	10,796	12,374	12,129
Kryptona Bidco US, LLC (4)(9)(25)	SF +	5.75% (incl 3.13% PIK)	9.42	%	12/18/2031	40,143		39,766	39,480
McAfee Corp (8)(24)	SF +	3.00%	6.64	%	3/1/2029	5,858		5,789	5,223
Medallia Inc (4)(9)(19)(26)	SF +	6.00%			10/29/2028	82,826		80,814	40,735
Mitchell International Inc (8)(24)	SF +	3.00%	6.64	%	6/17/2031	9,826		9,790	9,382
OEConnection LLC (8)(24)	SF +	4.50%	8.14	%	12/23/2032	104,563		103,885	104,955
OEConnection LLC (6)(8)					12/23/2032	15,332		(74)	57
OEConnection LLC (6)(8)					12/23/2032	11,376		(70)	43
Omega II AB (4)(5)(6)(7)					6/18/2032	SEK	255,591	(123)	264
Omega II AB (4)(5)(7)(41)	ST +	4.25%	6.27	%	6/18/2032	SEK	943,460	97,213	98,262
Prism Parent Co., Inc. (4)(9)(24)	SF +	5.00%	8.64	%	9/19/2028	41,708		41,393	41,432
Prism Parent Co., Inc. (4)(6)(9)(24)	SF +	5.00%	8.64	%	9/19/2028	4,307		1,682	1,687
Project Alpha Intermediate Holding, Inc. (8)(25)	SF +	3.25%	6.98	%	10/26/2030	24,777		24,555	18,100
Proofpoint, Inc. (8)(25)	SF +	3.00%	6.73	%	8/31/2028	18,810		18,694	18,194
QBS Parent Inc (4)(9)(25)	SF +	4.50%	8.23	%	6/3/2032	39,229		39,077	38,559
QBS Parent Inc (4)(6)(9)					6/3/2032	3,820		(15)	(65)
Quail Buyer, Inc. (4)(9)(25)	SF +	5.00%	8.76	%	10/1/2027	7,124		7,093	7,124
Quail Buyer, Inc. (4)(9)(25)	SF +	5.00%	8.76	%	10/1/2027	22,798		22,670	22,798
RD Michigan Property Owner I LLC (7)		7.50%	7.50	%	3/30/2045	2,465		2,434	2,460
Red Planet Borrower, LLC (8)(24)	SF +	3.75%	7.39	%	9/8/2032	4,249		4,212	4,256
Riley MergeCo LLC (4)(6)(10)(23)					9/23/2027	197		(1)	(18)

Table of Contents

HPS Corporate Lending Fund

Consolidated Schedule of Investments

June 30, 2026

(in thousands)

(Unaudited)


Company(1)	Reference Rate and Spread(2)		Interest Rate(2)		Maturity Date	Par Amount/Units	Amortized Cost(3)	Fair Value	Percentage of Net Assets
Riley MergeCo LLC (4)(10)(23)(24)	SF +	7.51%	11.27	%	9/23/2027	1,774	1,765	1,609
Rocket Software Inc (8)(24)	SF +	3.75%	7.39	%	11/28/2028	12,075	11,884	11,502
Severin Acquisition LLC (4)(9)(24)	SF +	5.00% (incl 2.25% PIK)	8.64	%	10/1/2031	306,905	304,685	304,722
Severin Acquisition LLC (4)(6)(9)(24)	SF +	4.75%	8.39	%	10/1/2031	44,454	21,893	21,911
Severin Acquisition LLC (4)(6)(9)(24)	SF +

Form: 10-Q

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