Act IPulse
Filled in full: 16 of 17 · 1 of 17 window drew demand above the cap — still honored
Q2-26 · within cap · click a window to replay it below
Strategy mix
| Fund interests · 404 |
| Secondary · 31 |
| Co-investment · 43 |
| Direct · 14 |
| Cash · 1 |
mixed percent bases in this cohort — totals not computed
| Exposure | Kind | Sector | Geography | Fair value | % |
|---|---|---|---|---|---|
| MLC Private Equity Partners Feeder, L.P. | Secondary fund | Secondary fund (LP interest) | Cayman (domicile) | $284M | 5.2% |
| Paddington Partners, L.P. | Secondary fund | Secondary fund (LP interest) | Canada (domicile) | $118M | 2.1% |
| The Resolute III Continuation Fund, L.P. | Continuation vehicle | Continuation fund (LP interest) | US | $112M | 2.0% |
| SkyKnight Capital II CV B, L.P. | Continuation vehicle | Continuation fund (LP interest) | US | $94.0M | 1.7% |
| MetLife Investment Private Equity Partners II (Feeder), LP | Secondary fund | Secondary fund (LP interest) | Cayman (domicile) | $84.9M | 1.5% |
| EQT Infrastructure IV (No.2) USD SCSp |
Modules shown reflect what this fund discloses — questions that don't apply to this vehicle type are omitted.
The balance sheet the latest filing stated and the NAV / subscription credit facility an evergreen vehicle runs against its portfolio — these funds carry no traded-debt balance sheet, so the line is the leverage.
Commitment pacing — how much capital is committed to underlying funds and deals, how much is called versus still callable, and commitment as a multiple of NAV. The deployment story an evergreen fund reports in place of a draw-down LP IRR.
Exposure concentration — sector and geographic mix with a Herfindahl over each, and how much of the book is named at the issuer level versus rolled into sized-but-unnamed buckets.
Valuation opacity — how much of the book is marked to model (Level III) or carried at an underlying fund NAV, and the net unrealized mark behind the reported value.
Hard-to-value
99.1%Level III + NAV expedientLevel III
4.9%mark-to-modelNAV expedient
94.2%fund-of-funds NAV99.1% of investments are marked to model (Level III) or carried at the NAV of an underlying fund — the higher this share, the more the reported NAV depends on unobservable inputs rather than market prices. The full L1 / L2 / L3 ladder and the disclosed WACC / exit-multiple inputs render in The Book · Marks; balance-sheet leverage under How levered?. Concentration of those marks by sector and geography is in How concentrated?.
The mark and the inputs behind it — the Level I / II / III fair-value hierarchy and the unobservable inputs render in The Book · Marks.
The management + incentive structure and the per-class servicing / distribution load behind the headline rate.
NAV-based total return by share class and the per-class NAV trajectory — what an evergreen, NAV-struck fund actually reports (not a draw-down LP multiple).
Exit terms — repurchase policy and the window-by-window tender record.
TodayRepurchase policy, window-by-window tender history and offering progress render in Liquidity.
Next laneA forward-funding obligation applies only to credit funds with unfunded loan commitments; this fund discloses none.
exit terms are fully surfaced in the Liquidity act.
fund silence and AltHarbor coverage are different facts — both stated per family
| Disclosure family | Status | Latest source | |
|---|---|---|---|
| Exit mechanics → | Disclosed | Registration statement · filed Aug 19 | |
| Tender record → | Disclosed | Tender offer filing · filed May 12 | |
| Per-class economics → | Disclosed | Prospectus supplement · filed Dec 31 | |
| Distribution composition → | Disclosed | Shareholder report · filed Jun 9 | |
| Fair-value hierarchy → | Disclosed | Shareholder report · filed Jun 9 | |
| Unobservable inputs → | Not yet covered by AltHarbor | — | |
| Credit measures → | Not yet covered by AltHarbor | — | |
| Portfolio composition → | Disclosed | Portfolio holdings filing · filed Feb 26 |
| Fund interest |
| Infrastructure fund (LP interest) |
| Luxembourg (domicile) |
| $71.9M |
| 1.3% |
| Columbia Spectrum Partners VI-A, L.P. | Secondary fund | Secondary fund (LP interest) | US | $62.6M | 1.1% |
| HS Sky LLC | Co-investment | Direct / co-invest (holding co.) | Bermuda (domicile) | $56.0M | 1.0% |
| Insight Partners Continuation Fund II, L.P. | Continuation vehicle | Tech-focused continuation fund (LP interest) | Cayman (domicile) | $54.0M | 1.0% |
| HS Lotus LLC | Co-investment | Direct / co-invest (holding co.) | Bermuda (domicile) | $53.1M | 1.0% |
| Karman Holdings Inc. | Co-investment | Direct co-investment (operating company equity) | US | $51.8M | 0.9% |
| Providence Cameron (W) Co-Investment L.P. | Co-investment | Co-investment (LP interest) | US | $51.7M | 0.9% |
| PSG Sequel-A L.P. | Continuation vehicle | Secondary / continuation fund (LP interest) | Cayman (domicile) | $50.3M | 0.9% |
| KKR Global Infrastructure Investors IV (USD) SCSp | Fund interest | Infrastructure fund (LP interest) | Luxembourg (domicile) | $48.1M | 0.9% |
| Elk 2 Coinvest I, L.P. | Co-investment | Co-investment (LP interest) | Cayman (domicile) | $46.7M | 0.8% |
top 15 of 493 disclosed exposures shown
15 of 493 rows are manager-published, not from a SEC filing
every filing on record · one tick per filing · hue = type, height = rarity
all 79Portfolio holdings filing 22Tender offer filing 17Amended tender offer 17Imported record 10Shareholder report 6Semiannual shareholder report 5Prospectus supplement 1Registration statement 1
| Filed | Type | Accession |
|---|---|---|
| 06/09/26 · period 03/31/26 | N-CSRShareholder report | 0001213900-26-066828 ↗ |
| 06/09/25 · period 03/31/25 | N-CSRShareholder report | 0001213900-25-052671 ↗ |
| 06/06/24 · period 03/31/24 | N-CSRShareholder report | 0001213900-24-050296 ↗ |
| 06/08/23 · period 03/31/23 | N-CSRShareholder report | 0001398344-23-011796 ↗ |
| 06/03/22 · period 03/31/22 | N-CSRShareholder report | 0001193125-22-167132 ↗ |
| 06/03/21 · period 03/31/21 | N-CSRShareholder report | 0001193125-21-181500 ↗ |
Stated fees · mgmt solid · servicing hatch · distribution hollow · bars share a scale · click a class to read the act through it
| Cls | Net assets | % fund | Stated fee | Min initial | Channel |
|---|---|---|---|---|---|
| Dretail | Class D stated fees: management 1.4 percent, servicing 0.3 percent1.65%+0.0% load | $5,000 | Fee-based intermediary / RIA | ||
| Iinstitutional | Class I stated fees: management 1.4 percent1.40%+0.0% load | $1,000,000 | Institutional / eligible high-minimum | ||
| Rretail | Class R stated fees: management 1.4 percent, servicing 0.3 percent, distribution 0.6 percent2.25%+0.0% load | $5,000 | Brokerage / transaction-based accounts | ||
| Sretail | Class S stated fees: management 1.4 percent, servicing 0.3 percent, distribution 0.6 percent2.25%+3.5% load | $5,000 | Brokerage / transaction-based accounts | ||
| Class T | not disclosed |
A per-share NAV composition is the monthly disclosure of NAV-struck perpetual REITs; this fund’s valuation — the Level I / II / III fair-value hierarchy and the unobservable inputs behind the marks — renders in The Book · Marks
hover or touch the chart to scrub
Total assets
$6.23BTotal liabilities
$478MNet assets
$5.76BLiabilities / net assets
0.08×derivedTotal assets / net assets
1.08×derivedNot disclosed by this fund: assets invested
0001193125-26-247063 period 2026-03-31: NPORT-P fundInfo totalAssets, totalLiabs, and netAssets.
Last 3 distributions for Class I: 03/31/24 $0.1600, NII $0.0000, return of capital $0.0000; 03/31/25 $0.7200, NII $0.1800, return of capital $0.0000; 03/31/26 $0.7000, NII $0.0100, return of capital $0.0000
NII · realized gains · return of capital · components not disclosed · last 3 declarations, Class I
Annual coverage · Class I · where each year’s distribution came from
| Year | $/sh | from NII | from gains | return of capital | Read |
|---|---|---|---|---|---|
| 2026 | $0.7000 | 1% | 99% | 0% | Low ROC |
| 2025 | $0.7200 | 25% | 75% | 0% | Low ROC |
| 2024 | $0.1600 | 0% | 100% | 0% | Low ROC |
Return of capital is the portion paid from invested principal rather than income or realized gains; a sustained high reading erodes NAV. Annual roll-up of the same filings charted above.
Cap: 5.0% sh. out./qtr (all windows) · All 17 windows filled in full · 1 gated
| Window | Req ÷ cap | Requested | Accepted | Price |
|---|---|---|---|---|
| Q2-26 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q1-26 | 0.69× | 3.3M sh | 3.3M sh | $62.25 |
| Q4-25 | 0.57× | 2.6M sh | 2.6M sh | $61.16 |
| Q3-25⊘accepted 100.0% of shares requested, requests exceeded the stated cap | 1.28× | 5.6M sh | 5.6M sh | $59.82 |
| Q2-25 | 0.44× | 1.7M sh | 1.7M sh | $57.33 |
| Q1-25 | 0.33× | 1.2M sh | 1.2M sh | $55.70 |
| Q4-24 | 0.20× | 622.2K sh | 622.2K sh | $55.17 |
| Q3-24 | 0.31× | 862.2K sh | 862.2K sh | $53.88 |
| Q2-24 | 0.24× | 568.8K sh | 568.8K sh | $52.32 |
| Q1-24 | 0.11× | 222.6K sh | 222.6K sh | $50.91 |
| Q4-23 | 0.22× | 365.2K sh | 365.2K sh | $48.60 |
| Q3-23 | 0.30× | 428.2K sh | 428.2K sh | $47.69 |
| Q2-23 | 0.23× | 272.8K sh | 272.8K sh | $47.19 |
| Q1-23 | Not disclosed | 283.3K sh | 283.3K sh | $44.69 |
| Q4-22 | 0.30× | 289.1K sh | 289.1K sh | $43.25 |
| Q3-22 | 0.14× | 81.3K sh | 81.3K sh | $43.45 |
| Q2-22 | 0.01× | 6.8K sh | 6.8K sh | $43.12 |
⊘ = requests exceeded the stated cap · fill bars on prorated windows only · requested basis: shares tendered · rows expand (tap or e)
Committed line
$500Mmax facility commitment · 03/31/26Drawn
$200Moutstanding · 40.0% of line · 03/31/26| Facility / lender | Committed | Drawn | Rate | Commit fee | Maturity |
|---|---|---|---|---|---|
| UBS Revolving Credit FacilityUBS AG, Stamford Branch (agent) | $500M | $200M | 7.0% wtd-avg | 0.6% | 04/22/27 |
Unfunded
$1.48Bstill callable · 03/31/26| Strategy | Committed | Funded | % funded | Unfunded |
|---|---|---|---|---|
| Secondary | — | — | $1.24B | |
| Co-investment | — | — | $187M | |
| Primary | — | — | $49.7M |
Windows observed: 17 · median open-to-pricing 35d · derived from filed window dates
| Filed | Filing | Period / note |
|---|---|---|
| 06/09/26 | Shareholder report | 03/31/26 |
| 05/29/26 | Portfolio holdings filing | 03/31/26 |
| 05/12/26 | Tender offer filing | |
| 03/24/26 | Amended tender offer | |
| 02/27/26 | Portfolio holdings filing | 12/31/25 |
| 02/26/26 | Portfolio holdings filing | 12/31/25 |
| 02/09/26 | Tender offer filing | |
| 12/31/25 | Prospectus supplement | 12/31/25 |
| 12/19/25 | Amended tender offer | |
| 12/02/25 | Semiannual shareholder report | 09/30/25 |
| 11/28/25 | Portfolio holdings filing | 09/30/25 |
| 11/10/25 | Tender offer filing | Fund commenced a repurchase offer with a December 15, 2025 valuation date. |
| 09/26/25 | Amended tender offer | |
| 09/22/25 | Amended tender offer | |
| 08/29/25 | Portfolio holdings filing | 06/30/25 |
| 08/19/25 | Registration statement | |
| 08/12/25 | Tender offer filing | |
| 06/23/25 | Amended tender offer | |
| 06/09/25 | Shareholder report | 03/31/25 |
| 06/04/25 | Amended tender offer | |
| 05/12/25 | Tender offer filing | |
| 03/25/25 | Amended tender offer | |
| 02/28/25 | Portfolio holdings filing | 12/31/24 |
| 02/07/25 | Tender offer filing | |
| 01/08/25 | Amended tender offer | |
| 12/05/24 | Semiannual shareholder report | 09/30/24 |
| 11/27/24 | Portfolio holdings filing | 09/30/24 |
| 11/08/24 | Tender offer filing | |
| 09/27/24 | Amended tender offer | |
| 08/28/24 | Portfolio holdings filing | 06/30/24 |
| 08/12/24 | Tender offer filing | |
| 06/06/24 | Shareholder report | 03/31/24 |
| 05/28/24 | Portfolio holdings filing | 03/31/24 |
| 05/10/24 | Tender offer filing | |
| 03/20/24 | Amended tender offer | |
| 02/21/24 | Portfolio holdings filing | 12/31/23 |
| 02/09/24 | Tender offer filing | |
| 12/27/23 | Amended tender offer | |
| 12/07/23 | Semiannual shareholder report | 09/30/23 |
| 11/29/23 | Portfolio holdings filing | 09/30/23 |
| 11/13/23 | Tender offer filing | |
| 09/19/23 | Amended tender offer | |
| 08/29/23 | Portfolio holdings filing | 06/30/23 |
| 08/11/23 | Tender offer filing | |
| 07/17/23 | Amended tender offer | |
| 06/08/23 | Shareholder report | 03/31/23 |
| 05/30/23 | Portfolio holdings filing | 03/31/23 |
| 04/21/23 | Tender offer filing | |
| 04/20/23 | Amended tender offer | |
| 02/28/23 | Portfolio holdings filing | 12/31/22 |
Showing the latest 50 of 69 — the complete filing index is above.
ASC-820 hierarchy · band width = share · hover to read
L1 $56.6M 0.9% · L2 $0 0.0% · L3 $292M 4.9% · NAVexp $5.64B 94.2%
Unobservable-input ranges: not disclosed in latest annual filing
| Category | Ending | Activity | Coverage |
|---|---|---|---|
| Level 3 Investments | $292M | Ending balance only | Ending Balance Only |
NAV practical expedient · 1 observation · $5.99B fair value · 03/31/26
Management fee
1.4%annualIncentive fee
0.0%on net profits| Class | Channel | Servicing | Distribution | Total ex-incentive |
|---|---|---|---|---|
| D | Fee-based intermediary / RIA | 0.3% | 0.0% | 1.6% |
| I | Institutional / direct | 0.0% | 0.0% | 1.4% |
| R | Retirement / Class R | 0.3% | 0.6% | 2.3% |
| S | Brokerage / financial intermediary | 0.3% | 0.6% | 2.3% |
Management fee is charged on annualized rate on fund's daily net assets; sub-adviser receives 50%.
The two-part incentive-fee mechanics (lookback / per-class expense caps & recapture) are not yet surfaced — they need a dedicated terms table still in the schema queue.
| Class | YTD | 1Y | 5Y | SI |
|---|---|---|---|---|
| I | 7.7% | 10.5% | 12.9% | 19.2% |
| S | 7.3% | 9.6% | 12.2% | 18.5% |
| D | 7.5% | 10.2% | 12.7% | 19.0% |
| T | 6.2% | 8.9% | — | 22.5% |
| R | — | — | — | 0.6% |
Each cell is the latest disclosed return for that window — windows are filed on different cadences, so hover any figure for its own as-of date. Returns are NAV-based total returns net of fund expenses, as the manager states them.
Raw NAV per unit as disclosed each period.
| Quarter | I | S | D | T |
|---|---|---|---|---|
| 09/30/25 | 7.7% | 7.3% | 7.5% | |
| 09/30/24 | 6.6% | 6.2% | 6.5% | 6.2% |
| 09/30/23 | 4.1% | 3.5% | 4.0% | 3.7% |
| 09/30/22 | 1.2% | 0.9% | 1.1% | 0.8% |
| 09/30/21 | 19.5% | 19.5% | 19.5% | 19.5% |
Not shown: IRR, MOIC, TVPI, DPI and PME. These are draw-down LP metrics; this is an evergreen, NAV-struck fund that reports a NAV-based total return, so an LP cash-flow multiple would misrepresent the vehicle — it is omitted by design, not missing.
Sector HHI
6,699concentratedGeography HHI
6,021concentratedNamed at issuer
100.0%of disclosed FVDisclosed FV / NAV
0.73×~1.0× expectedSector mix
100%-stacked share of disclosed allocation · sweep to read
Σ 100.0% disclosed · as of 09/30/25 · segments share of disclosed total
Geographic mix
100%-stacked share of disclosed allocation · sweep to read
Σ 100.0% disclosed · as of 09/30/25 · segments share of disclosed total
Of $4.20B disclosed fair value, $4.20B (100.0%) is named at the issuer level across 478 positions; — sits in 0 sized-but-unnamed buckets. Higher named share = more transparent single-name risk. Strategy mix renders in The Book; the full company register in The Names.
per-company % as filed — the percent basis varies by filer; fair value is the comparable figure
Cell intensity reflects each fund's % of NAV in the named issuer. Empty cells mean the fund doesn't disclose that name in its most-recent filing — not necessarily that it isn't held.
Source: SEC NPORT / 10-K issuer-level disclosures across AltHarbor's PE catalog. Aggregate buckets, fund-of-fund interests, and cash equivalents are excluded — only single-name issuers compared.