SCHEDULE: Cliffwater Funds Disclose 4.96% Stake in 26North BDC

Cliffwater Corporate Lending Fund and Cliffwater LLC have reported a 4.961% beneficial ownership stake in 26North BDC, Inc. as of December 31, 2025.

Summary

• Cliffwater Corporate Lending Fund and Cliffwater LLC (collectively, the "Reporting Persons") beneficially own 1,194,288.26 shares of common stock in 26North BDC, Inc.
• This ownership represents 4.961% of the outstanding shares of 26North BDC, Inc., based on 24,073,296 shares outstanding as of December 31, 2025.
• The filing is an Amendment No. 3 to Schedule 13G, indicating a routine update to previously reported beneficial ownership.
• Cliffwater Corporate Lending Fund is the direct holder of the securities, and Cliffwater LLC acts as its investment adviser.
• The Reporting Persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It is a standard regulatory disclosure of beneficial ownership and does not contain information that would significantly alter the company's perceived value or outlook.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that institutional filings like this Schedule 13G are routine disclosures that confirm ongoing investor interest in the Business Development Company (BDC) sector. The reported stake by Cliffwater, a known investment adviser, indicates continued institutional confidence in 26North BDC's investment strategy and market position.

Stakeholder Impact

• Shareholders: Confirms institutional investor interest in 26North BDC, potentially signaling confidence in the company's long-term prospects.

Key Dates

Keywords

26North BDC, Cliffwater Corporate Lending Fund, Cliffwater LLC, Beneficial Ownership, Schedule 13G, Institutional Investor, BDC, Investment Adviser