Identity band
Borrower identity here is a normalised-name match — the majority join in the private-credit books, with roughly 10% measured error in each direction: two companies fused into one, which inflates these figures, or one company split across spellings, which deflates them. The two are close enough in size to partly cancel in aggregate and they do not cancel for any single borrower. So figures built on it — crowding, overlap, the manager complex — are estimates with a measured band, not exact counts and not floors. How this is measured →
Fair value and share of that fund's resolved holdings book, each at the fund's own most recent reported period — the as-of column, because the holders of one company do not file on one date. The bar under each fair value is that fund's share of the $50M combined total across every holder — a different denominator from the share-of-book column — so one dominant lender vs an even syndicate is visible without reading the dollar figures.
| Fund | As of | Fair value | Share of book |
|---|---|---|---|
| Federated Hermes Project & Trade Finance Tender FundFederated Hermes · matched: name | 2026-03-31 | $49M | 4.7% |
| Putnam Master Intermediate Income TrustFranklin · matched: name | 2026-03-31 | $1M | 0.3% |
AltsVault · SEC EDGAR public data · informational only, not investment advice. Reconciliation is marked per fund on each position row.