PLC 3 LLC - PLL 1 Monthly Investor Update – July 2026 Fund Performance
📄 August 2026 Deployment & Financing Timeline - Investor Update
📄 Q2 2026 Investor Letter — Leeward Credit Fund, LP
PLC 3 LLC - PLL 1 delivered July returns of 0.52-0.64%*, varying by tier. July's returns are up from June, consistent with the additional capital Leeward put to work during the month. Leeward closed two new deals in July as it actively puts capital to work and prioritizes unlevered returns, with fund-level revenue and profit up month-over-month on the fees associated with the new loans. Hugh's full update is included at the end of this report.
| Tier | July Return | YTD Return | Annualized Projection |
|---|---|---|---|
| Tier S | 0.52%* | 1.82%* | 5.5%* |
| Tier A | 0.56%* | 1.96%* | 5.9%* |
| Tier B | 0.60%* | 2.09%* | 6.3%* |
| Tier C | 0.64%* | 2.22%* | 6.7%* |
Note: Fund inception was April 2026, so YTD figures reflect a partial year (April through July). Annualized projections represent a full 12 months at the fund's pace to date.
| Month | Tier S | Tier A | Tier B | Tier C |
|---|---|---|---|---|
| April 2026* | 0.70% | 0.75% | 0.80% | 0.85% |
| May 2026* | 0.25% | 0.27% | 0.28% | 0.30% |
| June 2026* | 0.35% | 0.38% | 0.41% | 0.43% |
| July 2026* | 0.52% | 0.56% | 0.60% | 0.64% |
You can read more about the specifics in the included Update from Leeward at the end of this report. We encourage investors to read the updates and listen to our LIVE Fund Q&A from Tuesday, August 18th with our sponsors: PLC 3 LLC - PLL 1 Monthly Investor Update – July 2026 Fund Performance