Act IPulse
Changes: no material changes on record
0 of 10 filled in full · demand stayed within the cap every window
Q2-26 · within cap · click a window to replay it below
Strategy mix · % of value, per NPORT-P
| Fund interests · 212 | 63.7% |
| Direct · 91 | 27.6% |
| Co-investment · 17 | 6.6% |
| Secondary · 5 | 3.5% |
| Cash · 1 | 1.2% |
| Primary · 1 | 0.0% |
| Exposure | Kind | Sector | Geography | Fair value | % |
|---|---|---|---|---|---|
| Space Exploration Technologies Corp. - 4 | Portfolio company | EP | US | $246M | 5.2% |
| X.AI Holdings Corp. | Portfolio company | EP | US | $162M | 3.5% |
| Glade Brook Private Investors XLIII LP | Fund interest | US | $121M | 2.6% | |
| Project Heron, LLC | Fund interest | US | $119M | 2.6% | |
| VYC25 Limited | Fund interest | VG | $107M | 2.3% | |
| Valor Summit 1.0 L.P. | Fund interest |
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
97.6%Level III + NAV expedientLevel III
24.8%mark-to-modelNAV expedient
72.8%fund-of-funds NAV97.6% 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 Feb 26 | |
| Tender record → | Disclosed | Tender offer filing · filed Apr 23 | |
| Per-class economics → | Disclosed | Shareholder report · filed Jun 9 | |
| 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 27 |
Changes: no material changes on record
| US |
| $106M |
| 2.3% |
| Databricks, Inc. | Portfolio company | EP | US | $102M | 2.2% |
| Georgian Alignment Fund AS, LP | Fund interest | CA | $97.8M | 2.1% |
| Space Exploration Technologies Corp. | Portfolio company | EC | US | $93.6M | 2.0% |
| Stripes VI(A), LP | Fund interest | US | $90.2M | 1.9% |
| Frontier Continuation Fund V, LP | Continuation vehicle | KY | $80.9M | 1.7% |
| Thrive Capital Partners IX Growth-F, LLC | Fund interest | US | $68.1M | 1.5% |
| Glade Brook Private Investors XXXVII LP | Fund interest | US | $67.2M | 1.4% |
| Troy Capital Partners Exploration Fund 2024, LP | Fund interest | US | $64.3M | 1.4% |
| Columbia Spectrum Partners VI-A, L.P. | Fund interest | US | $61.9M | 1.3% |
% basis: % of value, per NPORT-P
top 15 of 327 disclosed exposures shown
every filing on record · one tick per filing · hue = type, height = rarity
all 49Portfolio holdings filing 11Imported record 11Tender offer filing 10Amended tender offer 8Shareholder report 4Semiannual shareholder report 3manager-direct 1Registration statement 1
| Filed | Type | Accession |
|---|---|---|
| 06/09/26 · period 03/31/26 | N-CSRShareholder report | 0001213900-26-066820 ↗ |
| 05/29/26 · period 03/31/26 | NPORT-PPortfolio holdings filing | 0001193125-26-247111 ↗ |
| 04/24/26 | SC TO-I/AAmended tender offer | 0001193125-26-176861 ↗ |
| 04/23/26 | SC TO-ITender offer filing | 0001193125-26-173944 ↗ |
| 04/20/26 | impImported record | |
| 04/16/26 | SC TO-I/AAmended tender offer | 0001193125-26-158640 ↗ |
| 03/31/26 · period 09/30/25 | manager-dimanager-direct | manager-direct ↗ |
| 02/27/26 · period 12/31/25 | NPORT-PPortfolio holdings filing | 0001193125-26-081254 ↗ |
| 02/26/26 | N-2Registration statement | 0001193125-26-076368 ↗ |
| 01/23/26 | SC TO-I/AAmended tender offer | 0001193125-26-020593 ↗ |
| 01/22/26 | SC TO-ITender offer filing | 0001193125-26-019027 ↗ |
| 12/02/25 · period 09/30/25 | N-CSRSSemiannual shareholder report | 0001213900-25-117007 ↗ |
| 11/25/25 · period 09/30/25 | NPORT-PPortfolio holdings filing | 0001193125-25-296202 ↗ |
| 10/23/25 | SC TO-ITender offer filing | 0001193125-25-248624 ↗ |
| 10/22/25 | SC TO-I/AAmended tender offer | 0001193125-25-246903 ↗ |
| 08/29/25 · period 06/30/25 | NPORT-PPortfolio holdings filing | 0001145549-25-057509 ↗ |
| 07/23/25 | SC TO-I/AAmended tender offer | 0001193125-25-163466 ↗ |
| 07/23/25 | SC TO-ITender offer filing | 0001193125-25-163412 ↗ |
| 06/09/25 · period 03/31/25 | N-CSRShareholder report | 0001213900-25-052666 ↗ |
| 05/30/25 · period 03/31/25 | NPORT-PPortfolio holdings filing | 0001145549-25-037144 ↗ |
| 05/02/25 | SC TO-I/AAmended tender offer | 0001193125-25-111474 ↗ |
| 04/22/25 | SC TO-ITender offer filing | 0001193125-25-089009 ↗ |
| 02/28/25 · period 12/31/24 | NPORT-PPortfolio holdings filing | 0001145549-25-014294 ↗ |
| 01/23/25 | SC TO-I/AAmended tender offer | 0001193125-25-011487 ↗ |
| 01/21/25 | SC TO-ITender offer filing | 0001193125-25-009212 ↗ |
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
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 |
|---|---|---|---|---|---|
| Class Dretail | not disclosed | ||||
| Class Iinstitutional | not disclosed | ||||
| Class Sretail | not disclosed | ||||
| Class T | not disclosed |
Last 2 distributions for Class I: 03/31/25 $0.2500, NII $0.0000, return of capital $0.0000; 03/31/26 $0.0700, NII $0.0000, return of capital $0.0000
NII · realized gains · return of capital · components not disclosed · last 2 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 | $0.0700 | 0% | 100% | 0% | Low ROC |
| 2025 | $0.2500 | 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.
Total assets
$6.90BTotal liabilities
$496MNet assets
$6.41BLiabilities / net assets
0.08×derivedTotal assets / net assets
1.08×derivedNot disclosed by this fund: assets invested
0001193125-26-247111 period 2026-03-31: NPORT-P fundInfo totalAssets, totalLiabs, and netAssets.
Unfunded
$417Mstill callable · 03/31/26| Strategy | Committed | Funded | % funded | Unfunded |
|---|---|---|---|---|
| Direct | — | — | $30.5M | |
| Primary | — | — | $161M | |
| Secondary | — | — | $225M |
Cap: 2.5% sh. out./qtr (all windows) · All 10 windows filled in full
| Window | Req ÷ cap | Requested | Accepted | Price |
|---|---|---|---|---|
| Q2-26 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q1-26 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q4-25 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q3-25 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q2-25 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q1-25 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q4-24 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q3-24 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q2-24 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Q1-24 | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
requested basis: shares tendered · rows expand (tap or e)
Windows observed: 10 · median open-to-pricing 69d · 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 |
| 04/24/26 | Amended tender offer | |
| 04/23/26 | Tender offer filing | |
| 04/16/26 | Amended tender offer | |
| 03/31/26 | manager-direct | 09/30/25 |
| 02/27/26 | Portfolio holdings filing | 12/31/25 |
| 02/26/26 | Registration statement | |
| 01/23/26 | Amended tender offer | |
| 01/22/26 | Tender offer filing | |
| 12/02/25 | Semiannual shareholder report | 09/30/25 |
| 11/25/25 | Portfolio holdings filing | 09/30/25 |
| 10/23/25 | Tender offer filing | |
| 10/22/25 | Amended tender offer | |
| 08/29/25 | Portfolio holdings filing | 06/30/25 |
| 07/23/25 | Amended tender offer | |
| 07/23/25 | Tender offer filing | |
| 06/09/25 | Shareholder report | 03/31/25 |
| 05/30/25 | Portfolio holdings filing | 03/31/25 |
| 05/02/25 | Amended tender offer | |
| 04/22/25 | Tender offer filing | |
| 02/28/25 | Portfolio holdings filing | 12/31/24 |
| 01/23/25 | Amended tender offer | |
| 01/21/25 | Tender offer filing | |
| 12/05/24 | Semiannual shareholder report | 09/30/24 |
| 11/26/24 | Portfolio holdings filing | 09/30/24 |
| 10/18/24 | Tender offer filing | |
| 08/29/24 | Portfolio holdings filing | 06/30/24 |
| 07/19/24 | Tender offer filing | |
| 07/17/24 | Amended tender offer | |
| 06/06/24 | Shareholder report | 03/31/24 |
| 05/28/24 | Portfolio holdings filing | 03/31/24 |
| 04/19/24 | Tender offer filing | |
| 02/21/24 | Portfolio holdings filing | 12/31/23 |
| 01/16/24 | Tender offer filing | |
| 12/07/23 | Semiannual shareholder report | 09/30/23 |
| 06/08/23 | Shareholder report | 03/31/23 |
| 02/24/23 | Portfolio holdings filing | 12/31/22 |
Committed line
$505Mmax facility commitment · 03/31/26Drawn
$0outstanding · 0.0% of line · 03/31/26| Facility / lender | Committed | Drawn | Rate | Commit fee | Maturity |
|---|---|---|---|---|---|
| Mizuho Credit FacilityMizuho Bank, Ltd. | $350M | — | Term SOFR + 325bp | 1.1% | 05/26/28 |
| Texas Capital Bank Revolving Credit FacilityTexas Capital Bank | $155M | $0 | 6.8% wtd-avg | 0.4% | 08/29/27 |
| Class | YTD | 1Y | SI |
|---|---|---|---|
| I | 12.7% | 43.3% | 31.2% |
| S | 12.3% | 42.1% | 39.0% |
| D | 12.6% | 43.0% | 30.9% |
| T | 6.2% | 19.2% | 27.2% |
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 | 12.7% | 12.3% | 12.6% | |
| 09/30/24 | 6.7% | 6.2% | 6.6% | 6.2% |
| 09/30/23 | 8.6% | 8.3% | 8.3% | 8.3% |
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
4,089concentratedGeography HHI
7,696concentratedNamed at issuer
100.0%of disclosed FVDisclosed FV / NAV
0.75×~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 $4.80B disclosed fair value, $4.80B (100.0%) is named at the issuer level across 327 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.
ASC-820 hierarchy · band width = share · hover to read
L1 $155M 2.4% · L2 $0 0.0% · L3 $1.59B 24.8% · NAVexp $4.67B 72.8%
Unobservable-input ranges: not disclosed in latest annual filing
| Category | Ending | Activity | Coverage |
|---|---|---|---|
| Level 3 Investments | $1.59B | Ending balance only | Ending Balance Only |
NAV practical expedient · 1 observation · $6.41B fair value · 03/31/26
Management fee
1.5%annualIncentive fee
15.0%Life-to-date high-water mark hurdle| Class | Channel | Servicing | Distribution | Total ex-incentive |
|---|---|---|---|---|
| Class D | Fee-based intermediary / RIA | 0.3% | 0.0% | 1.8% |
| Class I | Institutional / direct | 0.0% | 0.0% | 1.5% |
| Class S | Brokerage / financial intermediary | 0.3% | 0.6% | 2.4% |
Management fee is charged on annualized rate on fund's 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.
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.