Crowding: 1% of book in names held by 3+ tracked funds · 1 of 30 names · Issuers are matched on normalised name (~10% measured error each way), so crowding and overlap figures are floors. How this is measured → · full readout →

Similar funds

Ranked by holdings overlap blended with size, leverage, yield and fee profile within the same asset class.

Issuers are matched on normalised name (~10% measured error each way), so crowding and overlap figures are floors. How this is measured →

Varagon Capital Corp profile-based only, no holdings overlap	89% similarƒ
Crescent Private Credit Income Corp profile-based only, no holdings overlap	88% similarƒ
Golub Capital Direct Lending Corp profile-based only, no holdings overlap	86% similarƒ
Lord Abbett Private Credit Fund profile-based only, no holdings overlap	83% similarƒ
26north BDC, Inc. profile-based only, no holdings overlap	82% similarƒ

Portfolio

253 positions as of 2026-03-31 · Schedule of Investments (SEC BDC Data Sets).

✓ Reconciled — ties to the fund's reported total investments within 10% (102%).

253 holdings

Company	Fair value	Weight
SPV I, LLC	$25M	2.4%
SPV I, LLC	$25M	2.4%
SPV I, LLC	$23M	2.2%
SPV I, LLC	$23M	2.2%
SPV I, LLC	$21M	2.0%
SPV I, LLC	$20M	1.9%
SPV I, LLC	$19M	1.8%
SPV I, LLC	$17M	1.6%
SPV I, LLC	$15M	1.5%
SPV I, LLC	$15M	1.4%
SPV I, LLC	$15M	1.4%
SPV I, LLC	$14M	1.4%
SPV I, LLC	$14M	1.4%
SPV I, LLC	$14M	1.4%
SPV I, LLC	$14M	1.3%
SPV I, LLC	$13M	1.3%
SPV I, LLC	$12M	1.2%
SPV I, LLC	$12M	1.2%
SPV I, LLC	$12M	1.2%
SPV I, LLC	$12M	1.2%
SPV I, LLC	$12M	1.1%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Internet Software & Services Power Digital Investment Type Unitranche Initial Term Loan Index S+ Spread 4.75% Interest Rate 8.43%	$11M	1.1%
SPV I, LLC	$10M	1.0%
SPV I, LLC	$10M	0.9%
SPV I, LLC	$9M	0.9%
SPV I, LLC	$9M	0.9%
SPV I, LLC	$9M	0.9%
SPV I, LLC	$9M	0.9%
SPV I, LLC	$9M	0.8%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Diversified Consumer Services Super-Sod Investment Type Senior Secured Initial Term Loan Index S+ Spread 4.75% Interest Rate 8.43%	$9M	0.8%
SPV I, LLC	$9M	0.8%
SPV I, LLC	$9M	0.8%
SPV I, LLC	$8M	0.8%
SPV I, LLC	$8M	0.8%
SPV I, LLC	$8M	0.8%
SPV I, LLC	$8M	0.8%
SPV I, LLC	$8M	0.8%
SPV I, LLC	$8M	0.8%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Hotels, Restaurants & Leisure Taymax Group Investment Type Senior Secured Delayed Draw Term Loan Index S+ Spread 5.18% Interest Rate 8.87%	$8M	0.8%
SPV I, LLC	$8M	0.8%
Subsidiary, LLC	$8M	0.8%
SPV I, LLC	$8M	0.7%
Company Heritage Partners	$8M	0.7%
SPV I, LLC	$8M	0.7%
SPV I, LLC	$7M	0.7%
SPV I, LLC	$7M	0.7%
SPV I, LLC	$7M	0.7%
SPV I, LLC	$7M	0.7%
SPV I, LLC	$7M	0.6%
SPV I, LLC	$6M	0.6%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Financial Services Cherry Bekaert Investment Type Senior Secured Delayed Draw Term Loan Index S+ Spread 4.50% Interest Rate 8.18%	$6M	0.6%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Commercial Services & Supplies Denali Water Solutions 2025 Investment Type Senior Secured Closing Date Term Loan Index S+ Spread 4.75% Interest Rate 8.43%	$6M	0.6%
SPV I, LLC	$6M	0.6%
SPV I, LLC	$6M	0.6%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Commercial Services & Supplies Healthcare Linen Services Group Investment Type Unitranche Initial Term Loan Index S+ Spread 4.75% Interest Rate 8.43%	$6M	0.6%
SPV I, LLC	$6M	0.6%
SPV I, LLC	$6M	0.6%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Capital Markets Steward Partners Investment Type Senior Secured Delayed Draw Term C Loan Index S+ Spread 4.75% Interest Rate 8.43%	$6M	0.6%
SPV I, LLC	$6M	0.6%
SPV I, LLC	$6M	0.6%
SPV I, LLC	$6M	0.6%
SPV I, LLC	$6M	0.6%
SPV I, LLC	$6M	0.6%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Electrical Equipment Industrial Electric Manufacturing Investment Type Senior Secured 2025 Incremental Term Loan Index S+ Spread 4.50% Interest Rate 8.18%	$6M	0.6%
SPV I, LLC	$6M	0.6%
SPV I, LLC	$6M	0.5%
SPV I, LLC	$6M	0.5%
SPV I, LLC	$5M	0.5%
SPV I, LLC	$5M	0.5%
SPV I, LLC	$5M	0.5%
SPV I, LLC	$5M	0.5%
SPV I, LLC	$5M	0.5%
SPV I, LLC	$5M	0.5%
SPV I, LLC	$5M	0.5%
SPV I, LLC	$5M	0.5%
SPV I, LLC	$5M	0.5%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Commercial Services & Supplies Capital Consultants Management Corporation Investment Type Senior Secured 2025 Acquisition Delayed Draw Term Loan Index S+ Spread 4.75%	$5M	0.5%
SPV I, LLC	$5M	0.5%
Fund, LLC	$5M	0.4%
Subsidiary, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC Bank Loan: Non-control/non	$4M	0.4%
Subsidiary, LLC	$4M	0.4%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Professional Services Magna Legal Services Investment Type Senior Secured Delayed Draw Term Loan Index S+ Spread 4.50% Interest Rate 8.18%	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.4%
SPV I, LLC	$4M	0.3%
Company Heritage Partners	$4M	0.3%
SPV I, LLC	$4M	0.3%
SPV I, LLC	$4M	0.3%
SPV I, LLC	$3M	0.3%
Fund, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
Company Visor Buyer, Inc.	$3M	0.3%
Fund, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
Fund, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
Fund, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
ortfolio investments Audax Private Credit Subsidiary, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Diversified Consumer Services Ned Stevens Investment Type Unitranche Initial Term Loan Index S+ Spread 5.00% Interest Rate 8.68%	$3M	0.3%
SPV I, LLC	$3M	0.3%
Subsidiary, LLC	$3M	0.3%
AND PREFERRED SHARES: NON-CONTROL/NON-AFFILIATE INVESTMENTS Hotels, Restaurants & Leisure Taymax Group	$3M	0.3%
SPV I, LLC	$3M	0.3%
Company Visor Buyer, Inc.	$3M	0.3%
Fund, LLC	$3M	0.3%
SPV I, LLC	$3M	0.3%
Subsidiary, LLC	$2M	0.2%
Fund, LLC	$2M	0.2%
And	$2M	0.2%
And	$2M	0.2%
Subsidiary, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
Subsidiary, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
ortfolio investments APCF SPV I, LLC SENIOR SECURED LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Food Products Golden State Foods Investment Type Unitranche Initial Term Loan Index S+ Spread 4.00% Interest Rate 7.68%	$2M	0.2%
SPV I, LLC	$2M	0.2%
Fund, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
Company Heritage Partners	$2M	0.2%
Fund, LLC	$2M	0.2%
Fund, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
Fund, LLC	$2M	0.2%
Subsidiary, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
ortfolio investments APCF SPV I, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Financial Services Prime Pensions Investment Type Senior Secured Delayed Draw Term Loan Index S+ Spread 4.75% Interest Rate 8.43%	$2M	0.2%
SPV I, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
Subsidiary, LLC	$2M	0.2%
SPV I, LLC	$2M	0.2%
And	$2M	0.2%
Subsidiary, LLC	$2M	0.1%
SPV I, LLC	$1M	0.1%
Fund, LLC	$1M	0.1%
Fund, LLC	$1M	0.1%
Company Heritage Partners	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
And	$1M	0.1%
SPV I, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
AND PREFERRED SHARES: NON-CONTROL/NON-AFFILIATE INVESTMENTS Trading Companies & Distributors Industrial Service Group	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
ortfolio investments Audax Private Credit Fund, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Software Tribute Technology Investment Type Senior Secured Revolving Credit Loan Index S+ Spread 6.50% Interest Rate 10.18%	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
Fund, LLC	$1M	0.1%
Fund, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
And	$1M	0.1%
SPV I, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
Fund, LLC	$1M	0.1%
Fund, LLC	$1M	0.1%
AND PREFERRED SHARES: NON-CONTROL/NON-AFFILIATE INVESTMENTS Commercial Services & Supplies Russell Landscape Group	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
AND PREFERRED SHARES: NON-CONTROL/NON-AFFILIATE INVESTMENTS Financial Services Prime Pensions Investment Type LP Interests	$1M	0.1%
Fund, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
And	$1M	0.1%
Subsidiary, LLC	$1M	0.1%
SPV I, LLC	$1M	0.1%
Fund, LLC	$1M	0.1%
Fund, LLC	$1M	0.1%
Subsidiary, LLC	$1M	0.0%
AND PREFERRED SHARES: NON-CONTROL/NON-AFFILIATE INVESTMENTS Containers & Packaging Novvia Group	$1M	0.0%
SPV I, LLC	$0M	0.0%
Subsidiary, LLC	$0M	0.0%
AND PREFERRED SHARES: NON-CONTROL/NON-AFFILIATE INVESTMENTS Health Care Providers & Services Sequel Ortho (fka OrthoNebraska) Investment Type LP Interests	$0M	0.0%
SPV I, LLC	$0M	0.0%
Subsidiary, LLC	$0M	0.0%
SPV I, LLC	$0M	0.0%
SPV I, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
ortfolio investments Audax Private Credit Subsidiary, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Financial Services Cherry Bekaert Investment Type Senior Secured Revolving Credit Loan Index S+ Spread 4.50% Interest Rate 8.18%	$0M	0.0%
Fund, LLC	$0M	0.0%
SPV I, LLC	$0M	0.0%
ortfolio investments Audax Private Credit Fund, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS IT Services Voeller Mixers Investment Type Senior Secured Revolving Loan Index S+ Spread 4.75% Interest Rate 8.43%	$0M	0.0%
Subsidiary, LLC	$0M	0.0%
ortfolio investments Audax Private Credit Fund, LLC BANK LOANS: NON-CONTROL/NON-AFFILIATE INVESTMENTS Construction & Engineering Gallo Mechanical Investment Type Senior Secured Initial Revolving Loan Index S+ Spread 4.75% Interest Rate 8.43%	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
SPV I, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
And	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
SPV I, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
SPV I, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
And	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
SPV I, LLC	$0M	0.0%
Fund, LLC	$0M	0.0%
Subsidiary, LLC	$0M	0.0%
SPV I, LLC	$0M	0.0%
AND PREFERRED SHARES: NON-CONTROL/NON-AFFILIATE INVESTMENTS Trading Companies & Distributors Industrial Service Group	$0M	0.0%
And	$0M	0.0%
Subsidiary, LLC	$0M	0.0%

Asset categories (by fair value)

Not shown: this filing states no asset category on positions holding 100% of the book's value, so the bars would chart that gap rather than the portfolio.

Crowding: 1% of book in names held by 3+ funds · 90% sole-holder

1 names held by 3+ funds · 28 sole-holder · Issuers are matched on normalised name (~10% measured error each way), so crowding and overlap figures are floors. How this is measured →

Source: AltsVault · SEC filings

see which of these names are crowded →

Credit marks

Fair value against cost across this fund's filed Schedule of Investments — read off the marks the filer itself reported, not a rating.

0.99× cost

FV-weighted average · median 1.00×

Over 199 debt positions, $954M at fair value · 0 trimmed, 54 excluded (equity or no usable cost).

Marked below cost

Below 95¢ of cost4% · $38M of $954M

Below 90¢ of cost3% · $30M of $954M

Below 85¢ of cost3% · $30M of $954M

Seniority mix — of stated fair value

seniority classified on 100% of the book ($1.0B of $1.0B)

First lien (explicit lien wording only — a floor)53% · $552M

Second lien0% · $0M

Other debt41% · $419M

Equity & warrants6% · $62M

Debt positions are identified by a filed principal amount — a proxy measured 82% precise against positions that also state an instrument (18% carry an equity-side label instead). Marks outside 0.01×–2.00× of cost are held out of the aggregates above as extraction artifacts, not credit opinion.

Source: AltsVault · SEC filings · as of 2026-03-31

Audax Private Credit Fund, LLC

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