# EDGAR Filing Document

**Accession Number:** 0001991706
**File Stem:** 0001410368-25-001815
**Filing Date:** 2025-8
**Character Count:** 90120
**Document Hash:** 5b2c3c89d1f2cc9ca81ae19bcaa10289
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-001815.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001410368-25-001815

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Partners Group Growth, LLC
- **CENTRAL INDEX KEY:** 0001991706

**ORGANIZATION NAME:**
- **EIN:** 931730748
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23941
- **FILM NUMBER:** 251279675

**BUSINESS ADDRESS:**
- **STREET 1:** 1114 AVENUE OF THE AMERICAS
- **STREET 2:** 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212 908 2600

**MAIL ADDRESS:**
- **STREET 1:** 1114 AVENUE OF THE AMERICAS
- **STREET 2:** 37TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

## Nport-Ex

ITEM 1. SCHEDULE OF INVESTMENTS.

The Schedule(s) of Investments is attached herewith.

**Partners Group Growth, LLC**

*(a Delaware Limited Liability Company)*

**Consolidated Schedule of Investments —**

**June 30, 2025 (Unaudited)**

The unaudited consolidated schedule of investments of Partners Group Growth, LLC (the "Fund"), a Delaware limited liability company that is registered under the Investment Company Act of 1940, as amended (the "Investment Company Act"), as a non-diversified, closed-end management investment company, as of June 30, 2025, is set forth below:

**INVESTMENT PORTFOLIO AS A PERCENTAGE OF TOTAL NET ASSETS**

![](fp0095106-1_01.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Private Equity Investments (93.11%)<br> Direct Investments <sup>\*</sup> (30.50%)**<br> **Direct Equity (30.50%)**  | **Investment Type** | **Acquisition<br> Date** | **Shares** | **Cost** | **Fair<br> Value<sup>\*\*</sup>** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asia - Pacific (12.49%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BPEA EQT Mid-Market Growth Co-investment Carlton, SCSp <sup>+, a</sup> | Common equity | 01/21/25 |  | $711267 | $723609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Campus Co-investment, L.P. <sup>+, a</sup> | Common equity | 03/20/24 | 9002997 | 9017126 | 14459188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kedaara Victoria Holdings <sup>+, a, b</sup> | Limited partnership interest | 09/28/23 |  | 4440057 | 4929249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Menou LP <sup>+, a, b</sup> | Limited partnership interest | 08/23/24 |  | 1762512 | 2052547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PG Power Pte. Ltd. <sup>+, a, c</sup> | Common equity | 10/30/24 | 696549 | 474992 | 546482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Asia - Pacific (12.49%)** |  |  |  |  | 22711075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**North America (12.13%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AOM Infusion <sup>+, a</sup> | Common equity | 04/30/25 |  | 253964 | 266268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aurora Co-Invest L.P. <sup>+, a, b, c</sup> | Limited partnership interest | 07/25/24 |  | 4175472 | 5189164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lumin Digital, LLC <sup>+, a, c</sup> | Preferred equity | 11/20/24 | 150000 | 900000 | 980668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lumin Digital, LLC <sup>+, a</sup> | Preferred equity | 02/12/25 | 37500 | 225000 | 245167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revelstoke Capital Partners LLC (Holdco) <sup>+, a</sup> | Common equity | 03/26/25 |  | 1513965 | 1597629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Silver Lake Strategic Investors VI, L.P. <sup>+, a, b</sup> | Limited partnership interest | 09/14/23 |  | 5016801 | 7145781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Surveyor Co-Invest SCSp <sup>+, a, b, c</sup> | Limited partnership interest | 10/17/24 |  | 830722 | 933291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sword Health Technologies, Inc. <sup>+, a</sup> | Common equity | 05/14/24 | 88109 | 2749092 | 4131795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sword Health Technologies, Inc. <sup>+, a</sup> | Preferred equity | 05/14/24 | 33762 | 1053409 | 1583240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total North America (12.13%)** |  |  |  |  | 22073003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Western Europe (5.88%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Akur8 SAS <sup>+, a, c</sup> | Common equity | 08/28/24 | 182785 | 1893836 | 2390548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Akur8 SAS <sup>+, a, c</sup> | Preferred equity | 08/28/24 | 234023 | 2597189 | 3060664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PG Investment Company 76 S.à r.l. <sup>+, a, c</sup> | Common equity | 09/03/24 | 35845 | 39509 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PG Investment Company 76 S.à r.l. <sup>+, a, c</sup> | Preferred equity | 09/03/24 | 4347880 | 4800562 | 5251892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Western Europe (5.88%)** |  |  |  |  | 10703105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Direct Equity (30.50%)** |  |  |  | $42455475 | $55487183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Direct Investments (30.50%)** |  |  |  | $42455475 | $55487183 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Secondary Investments **<sup>\*, b</sup>** (62.61%)** | **Acquisition<br> Date** | **Cost** | **Fair<br> Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asia - Pacific (0.22%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affinity Asia Pacific Fund IV (No.2) L.P. <sup>+, a, c</sup> | 09/30/24 | $136274 | $277389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Archer Capital Fund 5 <sup>+, a, c</sup> | 09/30/24 | 1 | 3528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Asia Fund II, L.P. <sup>+, a</sup> | 03/31/25 | 27162 | 56453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crescent Capital Partners IV, LP <sup>+, a</sup> | 09/30/24 | 11938 | 6523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KV Asia Capital Fund I L.P. <sup>+, a, c</sup> | 09/30/24 | 6238 | 58528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Asia - Pacific (0.22%)** |  |  | 402421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**North America (21.98%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7Wire Ventures Fund II, L.P. <sup>+, a, c</sup> | 12/29/23 | 339477 | 507363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7Wire Ventures Fund, L.P. <sup>+, a</sup> | 12/29/23 | 676887 | 1536473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACP Investment Fund, L.P. <sup>+, a, c</sup> | 09/30/24 | 4973 | 7889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ASP Securities Exchange Fund II L.P. <sup>+, a, c</sup> | 09/30/24 | 362024 | 567863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August Capital V Special Opportunities, L.P. <sup>+, a, c</sup> | 10/01/24 | 4253 | 4286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Venture Fund 2009, L.P. <sup>+, a, c</sup> | 09/30/24 | 1 | 3678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Venture Fund 2012, L.P. <sup>+, a</sup> | 09/30/24 | 84665 | 110859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Fund VIII, L.P. <sup>+, a, c</sup> | 09/30/24 | 2373 | 33826 |

---

*The accompanying notes are an integral part of these Consolidated Financial Statements.*

**Partners Group Growth, LLC** 

*(a Delaware Limited Liability Company)*

Consolidated Schedule of Investments —

June 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Acquisition<br> Date** | **Cost** | **Fair<br> Value** |
| **Private Equity Investments (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Secondary Investments <sup>\*, b</sup> (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**North America (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Birch Hill Equity Partners (US) IV, LP <sup>+, a</sup> | &nbsp;&nbsp;01/13/25 | $1 | $10261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cortec Group Fund V, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 1 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ESG Holdco II LLC <sup>+, a</sup> | &nbsp;&nbsp;12/29/23 | 2944 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures Life VI (Jersey), L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 20595 | 31779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Dearborn Capital Partners V, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;12/31/24 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mainsail Partners III, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 20693 | 13834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marlin Equity III, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 1485 | 1731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Enterprise Associates 14, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;10/01/24 | 187332 | 328033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Next Play Capital I, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;12/29/23 | 653108 | 1276259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Next Play Capital II, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;12/29/23 | 502354 | 1070642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGP Natural Resources X, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 11495 | 16454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novacap TMT International NV CV, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;10/31/24 | 741415 | 724348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NPC Exabeam, LLC <sup>+, a</sup> | &nbsp;&nbsp;12/29/23 | 84841 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NPC Guild, LLC <sup>+, a</sup> | &nbsp;&nbsp;12/29/23 | 169592 | 366715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nu Pagamentos SA <sup>+, a</sup> | &nbsp;&nbsp;06/24/25 | 32326 | 33024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Direct Investments V, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;05/01/25 | 100203 | 100203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Venture Capital Reinvestment Fund, L.P. <sup>+, a</sup> | &nbsp;&nbsp;03/12/25 | 3993301 | 5585922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Venture Capital VI, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;04/18/25 | 88258 | 88258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Project Senator Holding VII L.P. <sup>+, a</sup> | &nbsp;&nbsp;05/13/24 | 1687151 | 3483465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redpoint Omega II, L.P. <sup>+, a</sup> | &nbsp;&nbsp;09/30/24 | 43534 | 113449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redpoint Ventures IV, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 31748 | 31818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RoundTable Healthcare Partners III, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 23156 | 54173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SCP Dragon, L.P. <sup>+, a</sup> | &nbsp;&nbsp;06/16/25 | 3277131 | 3277131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SCP Harbor, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;10/13/23 | 5795784 | 11374175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SCP Shield, L.P. <sup>+, a</sup> | &nbsp;&nbsp;06/16/25 | 1584062 | 1584062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sigma Partners 6, L.P. <sup>+, a</sup> | &nbsp;&nbsp;09/30/24 | 22662 | 39019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sigma Partners 7, L.P. <sup>+, a</sup> | &nbsp;&nbsp;09/30/24 | 12600 | 10576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sigma Partners 8, L.P. <sup>+, a</sup> | &nbsp;&nbsp;09/30/24 | 21846 | 38957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Springcoast Partners I-A, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;06/17/25 | 3173451 | 3173451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sterling Capital Partners IV, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;12/01/24 | 8304 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sterling Partners – Small Market Growth 2009, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;12/01/24 | 11103 | 35064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STG IV, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 7342 | 13432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summit Partners Growth Equity Fund VIII-B, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;12/31/24 | 3801 | 8651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summit Partners Venture Capital Fund III-B, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;12/31/24 | 10527 | 17082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TA Atlantic and Pacific VII-A L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 76675 | 179564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TA Subordinated Debt Fund III, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 1 | 807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TA XI, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 11293 | 24567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TQS MCE LLC <sup>+, a</sup> | &nbsp;&nbsp;12/29/23 | 320951 | 703299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trinity Ventures 2024, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;12/20/24 | 2577289 | 3327672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trivest Fund V, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;10/01/24 | 21290 | 49908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Warburg Pincus Private Equity XI, L.P. <sup>+, a</sup> | &nbsp;&nbsp;01/01/25 | 9796 | 16154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Welsh, Carson, Anderson & Stowe XI, L.P. <sup>+, a</sup> | &nbsp;&nbsp;09/30/24 | 1645 | 303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total North America (21.98%)** |  |  | 39976489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Rest of World (0.23%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advent Latin American Private Equity Fund V, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;10/01/24 | 33538 | 52790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pitango Venture Capital Fund VI L.P. <sup>+, a</sup> | &nbsp;&nbsp;09/30/24 | 246821 | 350496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Victoria South American Partners II, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;09/30/24 | 25181 | 7341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Rest of World (0.23%)** |  |  | 410627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Western Europe (40.18%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abingworth Bioventures VI LP <sup>+, a, c</sup> | &nbsp;&nbsp;10/01/24 | 9781 | 19550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advent International GPE VI, L.P. <sup>+, a, c</sup> | &nbsp;&nbsp;10/01/24 | 6619 | 8872 |

---

*The accompanying notes are an integral part of these Consolidated Financial Statements.*

**Partners Group Growth, LLC** 

*(a Delaware Limited Liability Company)*

Consolidated Schedule of Investments —

June 30, 2025 (Unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Acquisition<br> Date** | **Cost** | **Fair<br> Value** |
| **Private Equity Investments (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Secondary Investments <sup>\*, b</sup> (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Western Europe (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advent International GPE VII-E, L.P. <sup>+, a, c</sup> | 10/01/24 | $10111 | $21823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alchemy Special Opportunities Fund II L.P. <sup>+, a, c</sup> | 09/30/24 | 18061 | 26588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APAX Europe VII - B, L.P. <sup>+, a, c</sup> | 10/01/24 | 607 | 1466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Astorg V FCPR <sup>+, a, c</sup> | 09/30/24 | 891 | 573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atomico IV L.P. (Project Matterhorn) <sup>+, a, c</sup> | 01/31/24 | 3435438 | 4230188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atomico V L.P. <sup>+, a, c</sup> | 01/31/24 | 2130754 | 2911788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August Capital V, L.P. <sup>+, a, c</sup> | 10/01/24 | 51166 | 44609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Europe Fund III, L.P. <sup>+, a</sup> | 03/31/25 | 1 | 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BC European Capital IX, L.P. <sup>+, a, c</sup> | 10/01/24 | 22135 | 91991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charterhouse Capital Partners IX <sup>+, a</sup> | 09/30/24 | 999 | 1263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DBAG Fund VI (Guernsey) L.P. <sup>+, a, c</sup> | 09/30/24 | 19254 | 26914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earlybird DWES Fund VI GmbH & Co. KG <sup>+, a, c</sup> | 06/07/24 | 1081194 | 3316843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earlybird DWES Fund VII GmbH & Co. KG <sup>+, a, c</sup> | 06/07/24 | 505283 | 1388670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT Mid Market Europe (No.1) Feeder Limited Partnership <sup>+, a, c</sup> | 01/31/24 | 794686 | 1490063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France Special Situations Fund I FPCI <sup>+, a, c</sup> | 10/01/24 | 44821 | 5254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G Square Capital I <sup>+, a</sup> | 12/01/24 | 112 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HitecVision Asset Solutions, L.P. <sup>+, a, c</sup> | 09/30/24 | 1 | 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HitecVision SpringPoint L.P. <sup>+, a, c</sup> | 09/30/24 |  | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HitecVision V, L.P. <sup>+, a, c</sup> | 09/30/24 | 5917 | 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HitecVision VI, L.P. <sup>+, a, c</sup> | 09/30/24 | 82802 | 82027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impilo Orphan Drugs AB <sup>+, a, c</sup> | 09/19/24 | 436170 | 641525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures Growth II (Jersey), L.P. <sup>+, a, c</sup> | 09/30/24 | 89140 | 82117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures Growth III (Jersey) L.P. <sup>+, a</sup> | 06/30/25 | 2531405 | 2920334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures Growth III (Jersey), L.P. <sup>+, a</sup> | 09/30/23 | 1207338 | 3166178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures Growth IV (Jersey), L.P. <sup>+, a</sup> | 09/30/23 | 1943644 | 1684757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures IX (Jersey), L.P. <sup>+, a, c</sup> | 09/30/23 | 841018 | 1254966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures VI (Jersey), L.P. <sup>+, a</sup> | 06/30/25 | 6048854 | 10932852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures VII (Jersey), L.P. <sup>+, a, c</sup> | 09/30/23 | 1167132 | 3043412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures VII (Jersey), L.P. <sup>+, a</sup> | 06/30/25 | 3152470 | 3462077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Index Ventures VIII (Jersey), L.P. <sup>+, a, c</sup> | 06/30/25 | 695485 | 1918130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrial Opportunity Partners II, L.P. <sup>+, a, c</sup> | 09/30/24 | 3653 | 10486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investindustrial V L.P. <sup>+, a, c</sup> | 09/30/24 | 69023 | 61132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L Capital 3 FPCI <sup>+, a, c</sup> | 12/02/24 | 17227 | 27803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Latour Capital I <sup>+, a, c</sup> | 12/31/24 | 4272 | 264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Living Bridge 5 L.P. <sup>+, a, c</sup> | 10/01/24 | 18692 | 45277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phoenix Equity Partners 2010 LP <sup>+, a</sup> | 09/30/24 | 1 | 290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Piper Private Equity Fund V L.P. <sup>+, a, c</sup> | 10/01/24 | 12737 | 2740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prime Ventures IV C.V. <sup>+, a, c</sup> | 09/30/24 | 48635 | 109537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summa Equity Fund III <sup>+, a, c</sup> | 06/30/25 | 3630900 | 3368724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summit Partners Europe Private Equity Fund, L.P. <sup>+, a</sup> | 03/31/25 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TDR Capital III 'B' L.P. <sup>+, a, c</sup> | 10/01/24 | 139361 | 177273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turkish Private Equity Fund III L.P. <sup>+, a, c</sup> | 09/30/24 | 117406 | 175406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verdane Freya X <sup>+, a, c</sup> | 06/30/25 | 12742751 | 12698665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verdane Freya XI <sup>+, a, c</sup> | 06/30/25 | 4655106 | 5267007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verdane Idun I <sup>+, a, c</sup> | 06/30/25 | 2075404 | 2937713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Volpi Capital Investments Conti, L.P. <sup>+, a, c</sup> | 09/07/23 | 4688068 | 5433007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WPEF V Feeder LP <sup>+, a</sup> | 01/01/25 | 4379 | 8230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Western Europe (40.18%)** |  |  | 73099005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Secondary Investments (62.61%)** |  | $81865798 | $113888542 |
| **Total Private Equity Investments (Cost $124,321,273)(93.11%)** |  |  | $169375725 |
| **Total Investments (Cost $124,321,273)(93.11%)** |  |  | 169375725 |
| **Other Assets in Excess of Liabilities (6.89%)** |  |  | 12537783 |
| **Net Assets (100.00%)** |  |  | $181913508 |

---

*The accompanying notes are an integral part of these Consolidated Financial Statements.*

**Partners Group Growth, LLC** 

*(a Delaware Limited Liability Company)*

Consolidated Schedule of Investments —

June 30, 2025 (Unaudited) (continued)

---

| | |
|:---|:---|
| \* | Direct Investments are private investments directly into the equity or debt of selected operating companies, often together with the management of the company. Primary Investments are investments in newly established private equity partnerships where underlying portfolio companies are not known as of the time of investment. Secondary Investments are portfolios of assets on the secondary market. |
| \*\* | The Fair Value of any Direct Investment may not necessarily reflect the current or expected future performance of such Direct Investment or the Fair Value of the Fund's interest in such Direct Investment. Furthermore, the Fair Value of any Direct Investment has not been calculated, reviewed, verified or in any way approved by such Direct Investment or its general partner, manager or sponsor (including any of its affiliates). Please see below for further details regarding the valuation policy of the Fund. |
| + | The fair value of the investment was determined using significant unobservable inputs. |
| a | Private equity investments are generally issued in private placement transactions and as such are generally restricted as to resale. Each investment may have been purchased on various dates and for different amounts. The date of the first purchase is reflected under Acquisition Date as shown in the Schedule of Investments. Total fair value of restricted investments as of June 30, 2025 was $169,375,725, or 93.11% of net assets. Total aggregated cost of restricted securities as of June 30, 2025 was $124,321,273. |
| b | Investment does not issue shares. |
| c | Investment has been committed to but has not been fully funded by the Fund. |

---

**A summary of outstanding financial instruments at June 30, 2025 is as follows:**

**Forward Foreign Currency Contracts**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Settlement Date** | **Counterparty** | **Currency<br> Purchased** | **Currency<br> Sold** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| July 16, 2025 | State Street Bank International | $27434042 | 25120000 | $28742613 | $(1308571) |
| July 16, 2025 | State Street Bank International | $8496273 | 7430000 | $8501497 | $(5224) |
| July 16, 2025 | State Street Bank International | 32550000 | $37245383 | $37244111 | $(1272) |
| August 13, 2025 | Bank of America | $4625752 | 403800000 | $4715234 | $(89482) |
| September 24, 2025 | State Street Bank International | $1572436 | ¥225900000 | $1578438 | $(6002) |
| October 22, 2025 | State Street Bank International | $37491497 | 32550000 | $38462123 | $(970626) |
| October 22, 2025 | State Street Bank International | $2928646 | 2525000 | $2983621 | $(54975) |
| October 29, 2025 | State Street Bank International | $3365195 | 32300000 | $3413093 | $(47898) |
|  |  |  |  |  | $**(2484050)** |

---

---

| | |
|:---|:---|
| **Legend:** | **Legend:** |
| € | - Euro |
| INR | - Indian Rupee |
| ¥ | -Japanese Yen |
| SEK | - Swedish Krona |

---

*The accompanying notes are an integral part of these Consolidated Financial Statements.*

The information contained in this section should be read in conjunction with the Fund's audited consolidated financial statements contained in its annual report for the year ended March 31, 2025.

Investments held by the Fund include direct equity investments in operating companies ("Direct Investments") and primary and secondary investments in private equity funds ("Primary Investments" and "Secondary Investments", respectively, and together, "Private Equity Fund Investments"; Direct Investments and Private Equity Fund Investments, collectively, "Private Equity Investments").

Partners Group (USA) Inc. (the "Adviser") determines the fair value of the Fund's Private Equity Investments in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") and the Fund's valuation procedures (the "Valuation Procedures"), which have been approved by the board of managers of the Fund (the "Board"). As authorized by the Valuation Procedures, the Adviser values the Fund's Private Equity Investments in consultation with its affiliates. The Valuation Procedures require evaluation of all relevant factors reasonably available to the Adviser and its affiliates at the time the Fund's Private Equity Investments are valued.

The Valuation Procedures are implemented by the Adviser and State Street Bank and Trust Company, as the Fund's administrator (the "Administrator"). Both the Adviser and the Administrator are subject to the oversight of, and report to, the Board. The Adviser and the Administrator monitor and review the methodologies of the various third-party pricing services that are employed by the Fund.

The Adviser and certain of its affiliates act as investment advisers to clients other than the Fund. However, the valuation attributed to a Private Equity Investment held by the Fund and to the same Private Equity Investment held by another client, one of the Adviser's affiliates, or by a client of one of its affiliates might differ due to differences in accounting, regulatory or other factors applicable to the Fund, such other client or the Adviser's affiliate.

In conformity with U.S. GAAP, investments are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Estimated fair values may differ from the values that would have been used if a ready market existed or if the investments were liquidated at the valuation date. A three-level hierarchy is used to distinguish between (A) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (B) inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs). This distinction determines the classification of fair value measurements for disclosure purposes.

The various types of inputs used in determining the value of the Fund's investments are summarized below for each of the three levels:

● Level 1 – Pricing inputs are quoted prices available in active markets for identical investments as of the measurement date. The type of investments included in Level 1 include marketable securities that are primarily traded on one or more of the U.S. national securities exchanges, the Nasdaq Stock Market or any foreign stock exchange. The fair value is determined to be the last sale price on the determination date, or, if no sales occurred on that date, the closing bid price on the determination date. In accordance with authoritative guidance, the Fund does not apply a blockage discount to the quoted price for these investments, even in situations where the Fund holds a large position in an investment and a sale could reasonably impact the quoted price.

● Level 2 – Pricing inputs are observable inputs other than quoted prices for identical assets in active markets (i.e., not Level 1 inputs). Fair value is determined using models or other valuation methodologies through direct or indirect corroboration with observable market data. Investments that are generally included in this category include corporate notes, convertible notes, warrants and restricted public equity securities. The fair value of legally restricted equity securities may be discounted depending on the likely impact of the restrictions on liquidity and the Adviser's estimates.

● Level 3 – Pricing inputs are unobservable for the investment and include situations where there is little, if any, market activity for the investment. The inputs into the determination of fair value require significant management judgment and/or estimation. Investments that are included in this category are private equity and debt investments, as well as convertible notes and warrants that are not actively traded. The fair value for investments using Level 3 pricing inputs is based on the Adviser's estimates that consider a combination of various factors and performance measurements. These factors and measurements include the timing of the transaction; the market in which the investment operates; comparable market transactions; operational performance and projections of the investments; various performance multiples as applied to earnings before interest, taxes, depreciation, and amortization or a similar measure of earnings for the latest reporting period or a forward period; brokers' quotes; and discounted cash flow analysis.

Due to the inherent uncertainty of estimates, fair value determinations based on estimates may materially differ from the values that would have been used had a ready market for the securities existed. The following is a summary of the Fund's investments classified in the fair value hierarchy as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Direct Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Direct Equity | $— | $— | $55487183 | $55487183 |
| &nbsp;&nbsp;&nbsp;Total Direct Investments | $— | $— | $55487183 | $55487183 |
| Secondary Investments |  |  | 113888542 | 113888542 |
| **Total Investments** | $— | $— | $169375725 | $169375725 |
| **Other Financial Instruments** |  |  |  |  |
| **Liabilities** |  |  |  |  |
| Foreign Currency Exchange Contracts | $— | $(2484050) | $— | $(2484050) |
| **Total Liabilities** | $— | $(2484050) | $— | $(2484050) |
| **Total Investments Net of Foreign Currency Exchange Contracts** | $— | $(2484050) | $169375725 | $166891675 |

---

The following is a reconciliation of the amount of the account balances on April 1, 2025 and June 30, 2025 of those investments in which significant unobservable inputs (Level 3) were used in determining value:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Balance**<br> **as of**<br> **April 1,**<br> **2025** | **Realized Gain/(Loss)** | **Net Change in Unrealized Appreciation/ (Depreciation)** | **Gross**<br> **Purchases** | **Gross**<br> **Sales** | **Net Amortization of Discount/**<br> **(Premium)** | **Net**<br> **Transfers**<br> **In or Out**<br> **of Level 3** | **Balance**<br> **as of**<br> **June 30,**<br> **2025** |
| Direct Investments: |  |  |  |  |  |  |  |  |
| Direct Equity Investments | $51351551 | $(7) | $4202237 | $(66239) | $(359) | $— | $— | $55487183 |
| Total Direct Investments\* | $51351551 | $(7) | $4202237 | $(66239) | $(359) | $— | $— | $55487183 |
| Secondary Investments\* | $67354871 | $518 | $9178885 | $41329450 | $(3975182) | $— | $— | $113888542 |
| Total | $118706422 | $511 | $13381122 | $41263211 | $(3975541) | $— | $— | $169375725 |

---

\* *For the purposes of the tables above: (i) "Direct Investments" are private investments directly in the equity or debt of selected operating companies, often together with the management of the investee operating company; (ii) and "Secondary Investments" are single or portfolios of assets acquired on the secondary market. However, in the private equity market sector the term "Secondary Investments" is generally understood to mean Private Equity Fund Investments acquired in the secondary market. Notwithstanding the foregoing, if the Fund reasonably determines that the strict application of the above definitions would not reflect the economic substance of any investment, the Fund may re-classify such investment as it deems appropriate.*

Changes in inputs or methods used for valuing investments may result in transfers in or out of levels within the fair value hierarchy. The inputs or methods used for valuing investments may not necessarily be an indication of the risk associated with investing in those investments. Transfers between levels of the fair value hierarchy are reported at the beginning of the reporting<br> period in which they occur.

The amount of the net change in unrealized appreciation (depreciation) for the three months ended June 30, 2025 relating to investments in Level 3 assets still held at June 30, 2025 is $13,381,122, which is included as a component of net change in accumulated unrealized depreciation on investments on the Consolidated Statement of Operations.

The following is a summary of quantitative information about significant unobservable valuation inputs approved by the Adviser for Level 3 Fair Value Measurements for investments held as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Type of Security** | **Fair Value at**<br> **June 30, 2025 (000's)\*** | **Valuation**<br> **Technique(s)** | **Unobservable Input** | **Range**<br> **(weighted average)** |
| Direct Equity | $12978 | Market comparable companies | Enterprise value to EBITDA multiple | 16.60x - 36.30x (25.97x) |
|  | 14459 | Market comparable companies | Price to book ratio | 3.10x - 3.10x (3.10x) |
|  | 28050 | Market comparable companies | Enterprise value to sales multiple | 7.50x - 18.50x (13.34x) |
| Secondary Investments | $110529 | Adjusted reported net asset value | Reported net asset value | n/a |
|  | 3327 | Adjusted reported net asset value | Reported net asset value | n/a |

---

\* Level 3 fair value includes accrued interest.

Level 3 Direct Equity Investments valued using an unobservable input are directly affected by a change in that input. For Direct Investments, significant increases or decreases in these inputs in isolation would result in a significantly lower or higher fair value measurements.

**Forward Foreign Currency Exchange Contracts**

The Fund may enter forward foreign currency exchange contracts to manage foreign exchange rate risk. These contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date may be entered into as a hedge against either specific transactions or portfolio positions. The objective of the Fund's foreign currency hedging transactions is to reduce the risk that the U.S. Dollar value of the Fund's foreign currency denominated investments will decline due to changes in foreign currency exchange rates. All forward foreign currency exchange contracts are "marked-to-market" daily at the applicable translation rates resulting in unrealized gains or losses. Realized gains or losses are recorded at the time the forward foreign currency exchange contract is offset by entering a closing transaction or by the delivery or receipt of the currency. The risk that counterparties may be unable to meet the terms of their contracts and the risk of unanticipated movements in the value of a foreign currency relative to the U.S. Dollar are inherent in forward foreign currency exchange contracts.

During the three months ended June 30, 2025, the Fund entered into 9 long/short forward foreign currency exchange contracts. The Fund had $(843,972) in net realized gain (loss) and $(1,754,017) change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts. The outstanding forward foreign currency exchange contract amounts at June 30, 2025 are representative of contract amounts during the period.

**Subsequent Events**

Management has evaluated the impact of all subsequent events on the Fund and determined that there were no subsequent events that require disclosure in the consolidated financial statements.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Partners Group Growth, LLC

- **b. Investment Company Act file number:** 811-23941

- **c. CIK number of Registrant:** 0001991706

- **d. LEI of Registrant:** 254900GKUK6RNGCQM661

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1114 AVENUE OF THE AMERICAS

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 212-908-2600

**Item A.2. Information about the Series.**

- **a. Name of Series:** Partners Group Growth, LLC

- **c. LEI of Series:** 254900GKUK6RNGCQM661

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $228612193.65

**Total Liabilities:** $46698685.71

**Net Assets:** $181913507.94

**Cash Not Reported:** $733674.00

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A |  |  | 2.76%                |
| Class ID N/A | 0.50%                | 0.96%                | 2.82%                |
| Class ID N/A | 0.48%                | 0.93%                | 2.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $113959.74               | $2246191.48                                |
| Month 2  | $-169.41                 | $1444110.20                                |
| Month 3  | $457260.45               | $8575152.85                                |

### Schedule of Portfolio Investments

| Name                                                    | Title                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LUMIN DIGITAL                                           | LUMIN DIGITAL                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     37500 | NS      | $245166.98    | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VERDANE FREYA XI AB                                     | VERDANE FREYA XI AB                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |   3973113 | NS      | $5267007.26   | 2.90%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BLACKROCK TREASURY TRUST 062                            | BLACKROCK TREASURY TRUST 062                            | CUSIP: 09248U551<br>LEI: 549300U5PI8CHFJM7202 | Long             | STIV             | CORP              | US        |  42528163 | OU      | $42528162.76  | 23.38%            |  |  |  | No            |                  1 | On Loan: No      |
| State Street Bank International GmbH                    | PURCHASED USD / SOLD SEK                                | CUSIP: 000000000<br>LEI: ZMHGNT7ZPKZ3UFZ8EO46 | N/A              | DFE              |  | US        |         1 | NC      | $-47897.85    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| INDEX VENTURES VI(JERSEY)                               | INDEX VENTURES VI(JERSEY)                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $31778.59     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WPEF V FEEDER LP                                        | WPEF V FEEDER LP                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      4225 | NS      | $8230.18      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CHARTERHOUSE CAPITAL PRTNER IX                          | CHARTERHOUSE CAPITAL PRTNER IX                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $1262.58      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BIRCH HILL EQUITY PRTNRS IV LP                          | BIRCH HILL EQUITY PRTNRS IV LP                          | CUSIP: 981EHS905<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |         1 | NS      | $10261.46     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HITECVISION V, LP                                       | HITECVISION V, LP                                       | CUSIP: 000000000<br>LEI: 254900T186QBPP4DVA47 | Long             |  | CORP              | US        |         0 | OU      | $141.14       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AOM INFUSION                                            | Revelstoke Capital Partners LLC (Holdco)                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         0 | NS      | $1597629.39   | 0.88%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NU PAGAMENTOS SA                                        | NU PAGAMENTOS SA                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32326 | NS      | $33024.03     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SCP DRAGON, L.P.                                        | SCP DRAGON, L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3277131 | NS      | $3277131.00   | 1.80%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AKUR8                                                   | AKUR8                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | LU        |    234023 | NS      | $3060663.83   | 1.68%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IMPILO ORPHAN DRUGS AB                                  | IMPILO ORPHAN DRUGS AB                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $641525.23    | 0.35%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Silver Lake Strategic Investors VI, L.P.                | Silver Lake Strategic Investors VI, L.P.                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $7145780.84   | 3.93%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MADISON DEARBORN CAP PRTNRS V                           | MADISON DEARBORN CAP PRTNRS V                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $1.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LUMIN DIGITAL                                           | LUMIN DIGITAL                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150000 | NS      | $980667.90    | 0.54%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HITECVISION VI, L.P.                                    | HITECVISION VI, L.P.                                    | CUSIP: 000000000<br>LEI: 2549008OGA1GVRM2GO03 | Long             |  | CORP              | US        |         0 | OU      | $82027.06     | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TA SUBORDINATED DEBT FUND III                           | TA SUBORDINATED DEBT FUND III                           | CUSIP: 000000000<br>LEI: 5493004E9RQLB64S0S91 | Long             |  | CORP              | US        |         0 | OU      | $807.00       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Volpi Capital Investments Conti LP                      | Volpi Capital Investments Conti LP                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $5433006.66   | 2.99%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Index Ventures Growth IV (Jersey), L.P.                 | Index Ventures Growth IV (Jersey), L.P.                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | JE        |         0 | OU      | $1684756.90   | 0.93%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HITECVISION ASSET SOLUTIONS LP                          | HITECVISION ASSET SOLUTIONS LP                          | CUSIP: 000000000<br>LEI: 254900NGQXESVJ9K3O22 | Long             |  | CORP              | US        |         0 | OU      | $209.14       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SWORD HEALTH                                            | SWORD HEALTH                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |         0 | NS      | $313862.43    | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PIPER PRIVATE EQUITY FUND V LP                          | PIPER PRIVATE EQUITY FUND V LP                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | FI        |         0 | OU      | $2740.08      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Atomico IV L.P.                                         | Atomico IV L.P.                                         | CUSIP: 000000000<br>LEI: 213800O966QJFZX87447 | Long             |  | CORP              | US        |         0 | OU      | $4230188.24   | 2.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Earlybird DWES Fund VI GmbH & Co. KG                    | Earlybird DWES Fund VI GmbH & Co. KG                    | CUSIP: 000000000<br>LEI: 391200QGBSSZTI8UCG56 | Long             |  | CORP              | DE        |         0 | OU      | $3316842.60   | 1.82%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Atomico V L.P.                                          | Atomico V L.P.                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $2911787.87   | 1.60%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SCP Harbor, L.P.                                        | SCP Harbor, L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $11374174.84  | 6.25%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ARCHER CAP VCLP 5                                       | ARCHER CAP VCLP 5                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | AU        |         0 | OU      | $3528.24      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WARBURG PINCUS XI LP                                    | WARBURG PINCUS XI LP                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9796 | NS      | $16153.66     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EQT Mid Market Europe (No.1) Feeder Limited Partnership | EQT Mid Market Europe (No.1) Feeder Limited Partnership | CUSIP: 962TDT907<br>LEI: N/A                  | Long             |  | CORP              | SE        |         0 | OU      | $1490063.43   | 0.82%             |  |  |  | Yes           |                  3 | On Loan: No      |
| State Street Bank International GmbH                    | PURCHASED USD / SOLD EUR                                | CUSIP: 000000000<br>LEI: ZMHGNT7ZPKZ3UFZ8EO46 | N/A              | DFE              |  | US        |         1 | NC      | $-970626.31   | -0.53%            |  |  |  | No            |                  1 | On Loan: No      |
| AUGUST CAPITAL V LP                                     | AUGUST CAPITAL V LP                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $44608.99     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PERFORMANCE VENTURE CAPITAL VI                          | PERFORMANCE VENTURE CAPITAL VI                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     88258 | NS      | $88257.92     | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NEW ENTERPRISE ASSOCIATES 14                            | NEW ENTERPRISE ASSOCIATES 14                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $328033.52    | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Index Ventures VIII (Jersey), L.P.                      | Index Ventures VIII (Jersey), L.P.                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $766988.45    | 0.42%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Campus Co-investment, L.P.                              | Campus Co-investment, L.P.                              | CUSIP: 000000000<br>LEI: 3358002OGW3QMVG5K284 | Long             | EC               | CORP              | US        |   9002997 | NS      | $9647010.90   | 5.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Aurora Co-Invest L.P.                                   | Aurora Co-Invest L.P.                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $5189164.32   | 2.85%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PITANGO VENTURE CAPITAL VI LP                           | PITANGO VENTURE CAPITAL VI LP                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $350495.83    | 0.19%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NGP NATURAL RESOURCES X LP                              | NGP NATURAL RESOURCES X LP                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $16454.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Campus Co-investment, L.P.                              | Campus Co-investment, L.P.                              | CUSIP: 000000000<br>LEI: 3358002OGW3QMVG5K284 | Long             | EC               | CORP              | US        |         0 | NS      | $4812176.86   | 2.65%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SUMMIT PARTNERS EUROPE PE FUND                          | SUMMIT PARTNERS EUROPE PE FUND                          | CUSIP: 000000000<br>LEI: 549300ZI6FY4JSG6SY84 | Long             | EC               | CORP              | US        |         1 | NS      | $1.17         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Index Ventures Growth III (Jersey) L.P.                 | Index Ventures Growth III (Jersey) L.P.                 | CUSIP: 000000000<br>LEI: 213800WY1ZZSILEOTS51 | Long             |  | CORP              | JE        |         0 | OU      | $3166178.42   | 1.74%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PARTNERS GROUP GROWTH BSL LLC                           | PARTNERS GROUP GROWTH BSL LLC                           | CUSIP: 000000000<br>LEI: 636700AH2JJBWAZ8TN30 | Long             | EC               | CORP              | US        |        50 | NS      | $3976.33      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| G SQUARE CAPITAL I                                      | G SQUARE CAPITAL I                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $78.44        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INVESTINDUSTRIAL V                                      | INVESTINDUSTRIAL V                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $61132.03     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Kedaara Victoria Holdings                               | Kedaara Victoria Holdings                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $4929249.16   | 2.71%             |  |  |  | Yes           |                  3 | On Loan: No      |
| State Street Bank International GmbH                    | PURCHASED USD / SOLD JPY                                | CUSIP: 000000000<br>LEI: ZMHGNT7ZPKZ3UFZ8EO46 | N/A              | DFE              |  | US        |         1 | NC      | $-6002.30     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Surveyor Co-Invest SCSp                                 | Surveyor Co-Invest SCSp                                 | CUSIP: 85225A107<br>LEI: 549300T4QP7KELU8ST60 | Long             |  | CORP              | US        |         0 | OU      | $933291.01    | 0.51%             |  |  |  | Yes           |                  3 | On Loan: No      |
| State Street Bank International GmbH                    | PURCHASED USD / SOLD EUR                                | CUSIP: 000000000<br>LEI: ZMHGNT7ZPKZ3UFZ8EO46 | N/A              | DFE              |  | US        |         1 | NC      | $-1308571.52  | -0.72%            |  |  |  | No            |                  1 | On Loan: No      |
| NOVACAP TMT INTER NV CV LP                              | NOVACAP TMT INTER NV CV LP                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $724348.37    | 0.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Index Ventures VII (Jersey), L.P.                       | Index Ventures VII (Jersey), L.P.                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | JE        |         0 | OU      | $3043412.40   | 1.67%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ABINGWORTH BIOVENTURES VI LP                            | ABINGWORTH BIOVENTURES VI LP                            | CUSIP: 000000000<br>LEI: 21380027WYKZ6N61KI13 | Long             |  | CORP              | GB        |         0 | OU      | $19549.87     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SWORD HEALTH                                            | SWORD HEALTH                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |         0 | NS      | $396865.05    | 0.22%             |  |  |  | Yes           |                  3 | On Loan: No      |
| STERLING PTRS SML MKT GT 09 LP                          | STERLING PTRS SML MKT GT 09 LP                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $35064.00     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| REDPOINT VENTURES IV, L.P.                              | REDPOINT VENTURES IV, L.P.                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | XX        |         0 | OU      | $31818.00     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ADVENT INTL GPE VI A                                    | ADVENT INTL GPE VI A                                    | CUSIP: 000000000<br>LEI: 549300N4GM555WSQ7S43 | Long             |  | CORP              | KY        |         0 | OU      | $8872.35      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TRIVEST FUND V, LP                                      | TRIVEST FUND V, LP                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $49908.00     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ROUNDTABLE HEALTHCARE P. III                            | ROUNDTABLE HEALTHCARE P. III                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $54172.99     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SUMMA EQUITY III                                        | SUMMA EQUITY III                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3098958 | NS      | $3368724.25   | 1.85%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AOM INFUSION (APR 25)                                   | AOM INFUSION (APR 25)                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         0 | NS      | $266267.66    | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MARLIN EQUITY PARTNERS III LP                           | MARLIN EQUITY PARTNERS III LP                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $1731.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BERKSHIRE FUND VIII, L.P.                               | BERKSHIRE FUND VIII, L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $33826.20     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Next Play Capital I, L.P.                               | Next Play Capital I, L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $1276258.80   | 0.70%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FRANCE SPECIAL SIT FD I                                 | FRANCE SPECIAL SIT FD I                                 | CUSIP: 000000000<br>LEI: 969500QO5A7SDJ4QJB22 | Long             |  | CORP              | GB        |         0 | OU      | $5253.63      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SWORD HEALTH                                            | SWORD HEALTH                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     88109 | NS      | $4131795.20   | 2.27%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KV ASIA CAPITAL FUND I LP                               | KV ASIA CAPITAL FUND I LP                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $58528.28     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TA ATLANTIC + PACIFIC VII A LP                          | TA ATLANTIC + PACIFIC VII A LP                          | CUSIP: 000000000<br>LEI: 549300HZOM4OFJI2VG66 | Long             |  | CORP              | US        |         0 | OU      | $179563.76    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ASTORG V FCPR                                           | ASTORG V FCPR LP                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | FR        |         0 | OU      | $573.08       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INDEX VENTURES VII                                      | INDEX VENTURES VII                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2690620 | NS      | $3462076.69   | 1.90%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WELSH,CARSON,ANDERSON STOWE XI                          | WELSH,CARSON,ANDERSON STOWE XI                          | CUSIP: 000000000<br>LEI: 549300IE78X4UGT2S553 | Long             |  | CORP              | US        |         0 | OU      | $303.00       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| State Street Bank International GmbH                    | PURCHASED EUR / SOLD USD                                | CUSIP: 000000000<br>LEI: ZMHGNT7ZPKZ3UFZ8EO46 | N/A              | DFE              |  | XX        |         1 | NC      | $-1272.21     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| PHOENIX EQUITY PARTNERS 2010                            | PHOENIX EQUITY PARTNERS 2010                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $290.16       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PERFORMANCE DIRECT INVS V LP                            | PERFORMANCE DIRECT INVS V LP                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100203 | NS      | $100203.46    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TQS MCE LLC                                             | TQS MCE LLC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $703298.87    | 0.39%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INDEX VENTURES VI(JERSEY) (2)                           | INDEX VENTURES VI(JERSEY) (2)                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | NL        |   3648328 | NS      | $6666564.16   | 3.66%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Menou LP                                                | Menou LP                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | JP        |         0 | OU      | $2052546.92   | 1.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CORTEC GROUP FUND V, LP                                 | CORTEC GROUP FUND V, LP                                 | CUSIP: 000000000<br>LEI: 549300WLJ5TJO34KN858 | Long             |  | CORP              | US        |         0 | OU      | $6.30         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Next Play Capital II, L.P.                              | Next Play Capital II, L.P.                              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $1070641.53   | 0.59%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Merrill Lynch International                             | PURCHASED USD / SOLD INR                                | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DFE              |  | US        |         1 | NC      | $-89481.33    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| ALCHEMY SPEC OPP FUND II LP                             | ALCHEMY SPEC OPP FUND II LP                             | CUSIP: 000000000<br>LEI: 213800BDS2LY257SNI77 | Long             |  | CORP              | GB        |         0 | OU      | $26588.37     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INDEX VENTURES VIII JERSEY LP                           | INDEX VENTURES VIII JERSEY LP                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    441719 | NS      | $1151140.68   | 0.63%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SIGMA PARTNERS 6, LP                                    | SIGMA PARTNERS 6, LP                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $39018.62     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SWORD HEALTH                                            | SWORD HEALTH                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |         0 | NS      | $1313.04      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HITECVISION SPRINGPOINT, L.P                            | HITECVISION SPRINGPOINT, L.P                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $97.00        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BAIN CAPITAL VENTURE FUND 2012                          | BAIN CAPITAL VENTURE FUND 2012                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $110859.01    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| State Street Bank International GmbH                    | PURCHASED USD / SOLD EUR                                | CUSIP: 000000000<br>LEI: ZMHGNT7ZPKZ3UFZ8EO46 | N/A              | DFE              |  | US        |         1 | NC      | $-5224.14     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| NPC Guild, LLC                                          | NPC Guild, LLC                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $366714.96    | 0.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| L CAPITAL 3                                             | L CAPITAL 3                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | FR        |         0 | OU      | $27802.89     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ACP INVESTMENT FUND LP                                  | ACP INVESTMENT FUND LP                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $7889.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VERDANE FREYA X                                         | VERDANE FREYA X                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        | 120961221 | NS      | $12698664.54  | 6.98%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NPC Exabeam, LLC                                        | NPC Exabeam, LLC                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $1.02         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CRESCENT CAPITAL PARTNERS IV                            | CRESCENT CAPITAL PARTNERS IV                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | AU        |         0 | OU      | $6523.10      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 7Wire Ventures Fund, L.P.                               | 7Wire Ventures Fund, L.P.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $1536472.80   | 0.84%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Summit Partners Venture Capital Fund III-B, L.P.        | Summit Partners Venture Capital Fund III-B, L.P.        | CUSIP: 000000000<br>LEI: 549300MWXV1V1N63GW41 | Long             |  | CORP              | US        |         0 | OU      | $17082.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| APAX EUROPE VII B LP                                    | APAX EUROPE VII B LP                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $1465.58      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| STG IV, LP                                              | STG IV, LP                                              | CUSIP: 000000000<br>LEI: 549300XLV12A07VTTD61 | Long             |  | CORP              | US        |         0 | OU      | $13432.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ADVENT INTL GPE VII E LP                                | ADVENT INTL GPE VII E LP                                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $21823.21     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ADVENT LATIN AMERICA PE FUND V                          | ADVENT LATIN AMERICA PE FUND V                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $52789.86     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| State Street Bank International GmbH                    | PURCHASED USD / SOLD EUR                                | CUSIP: 000000000<br>LEI: ZMHGNT7ZPKZ3UFZ8EO46 | N/A              | DFE              |  | US        |         1 | NC      | $-54974.42    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS EDUCATION                                       | COMPASS EDUCATION                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         0 | NS      | $723608.57    | 0.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AFFINITY ASIA PACIFIC FD IV 2                           | AFFINITY ASIA PACIFIC FD IV 2                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $277389.02    | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FAIRJOURNEY BIOLOGICS                                   | FAIRJOURNEY BIOLOGICS                                   | CUSIP: 000000000<br>LEI: 894500O16E2NZ5MM4R66 | Long             | EC               | CORP              | PT        |     35845 | NS      | $1.17         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Summit Partners Growth Equity Fund VIII-B, L.P.         | Summit Partners Growth Equity Fund VIII-B, L.P.         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $8651.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SWORD HEALTH                                            | SWORD HEALTH                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33762 | NS      | $608638.96    | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INDUSTRIAL OPP PARTNERS II L.P                          | INDUSTRIAL OPP PARTNERS II L.P                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $10486.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Earlybird DWES Fund VII GmbH & Co. KG                   | Earlybird DWES Fund VII GmbH & Co. KG                   | CUSIP: 000000000<br>LEI: 391200UEU4BULG9T2S58 | Long             |  | CORP              | DE        |         0 | OU      | $1388669.91   | 0.76%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SPRINGCOAST PARTNERS I A, L.P.                          | SPRINGCOAST PARTNERS I A, L.P.                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3173451 | NS      | $3173451.00   | 1.74%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SWORD HEALTH                                            | SWORD HEALTH                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $68606.12     | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AKUR8                                                   | AKUR8                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |    182785 | NS      | $2390547.90   | 1.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| REDPOINT OMEGA II                                       | REDPOINT OMEGA II                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $113448.65    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VICTORIA SOUTH AMERICAN PRT II                          | VICTORIA SOUTH AMERICAN PRT II                          | CUSIP: 000000000<br>LEI: 549300CCT8RA902O2457 | Long             |  | CORP              | US        |         0 | OU      | $7341.41      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BAIN CAPITAL ASIA FUND II, L.P                          | BAIN CAPITAL ASIA FUND II, L.P                          | CUSIP: 000000000<br>LEI: 5STZ3RLTMN1T20SVK541 | Long             | EC               | CORP              | US        |     27162 | NS      | $56452.45     | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TA XI, LP                                               | TA XI, LP                                               | CUSIP: 000000000<br>LEI: 549300PRKYRGDRRMWL35 | Long             |  | CORP              | US        |         0 | OU      | $24567.39     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INDEX VENTURES GROWTH II (JER                           | INDEX VENTURES GROWTH II (JER                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $82116.64     | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| FAIRJOURNEY BIOLOGICS                                   | FAIRJOURNEY BIOLOGICS                                   | CUSIP: 000000000<br>LEI: 894500O16E2NZ5MM4R66 | Long             | EP               | CORP              | PT        |   4347880 | NS      | $5251891.95   | 2.89%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MAINSAIL PARTNERS III, LP                               | MAINSAIL PARTNERS III, LP                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $13833.93     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 7Wire Ventures Fund II, L.P.                            | 7Wire Ventures Fund II, L.P.                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $507362.98    | 0.28%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SWORD HEALTH                                            | SWORD HEALTH                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |         0 | NS      | $193954.13    | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AUGUST CAPITAL V SPECIAL OPPOR                          | AUGUST CAPITAL V SPECIAL OPPOR                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $4286.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Index Ventures IX (Jersey), L.P.                        | Index Ventures IX (Jersey), L.P.                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $1254966.00   | 0.69%             |  |  |  | Yes           |                  3 | On Loan: No      |
| STERLING CAPITAL PARTNERS IV                            | STERLING CAPITAL PARTNERS IV                            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $1.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TRINITY VENTURES 2024, LP                               | TRINITY VENTURES 2024, LP                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $3327671.76   | 1.83%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BC EUROPEAN IX                                          | BC EUROPEAN IX                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $91990.83     | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SIGMA PARTNERS 8 LP                                     | SIGMA PARTNERS 8 LP                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $38957.18     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BAIN CAPITAL VENTURE FUND 2009                          | BAIN CAPITAL VENTURE FUND 2009                          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $3678.13      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SCP SHIELD, L.P.                                        | SCP SHIELD, L.P.                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1584062 | NS      | $1584062.00   | 0.87%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LATOUR CAPITAL I                                        | LATOUR CAPITAL I                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | LU        |         0 | OU      | $263.55       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TDR CAPITAL III B L.P.                                  | TDR CAPITAL III B L.P.                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $177272.99    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ASP SEC EXCHANGE FUND II LP                             | ASP SEC EXCHANGE FUND II LP                             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $567862.86    | 0.31%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BAIN CAPITAL EUROPE FUND III                            | BAIN CAPITAL EUROPE FUND III                            | CUSIP: 000000000<br>LEI: 5493008LB4GPTDHLGY27 | Long             | EC               | CORP              | US        |         1 | NS      | $95.05        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INDEX VENTURE VI (JERSEY)                               | INDEX VENTURE VI (JERSEY)                               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $928544.16    | 0.51%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PRIME VENTURES IV C.V.                                  | PRIME VENTURES IV C.V.                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | JE        |         0 | OU      | $109536.82    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LIVING BRIDGE 5 LP                                      | LIVING BRIDGE 5 LP                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | GB        |         0 | OU      | $45277.08     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DBAG FUND VI (GUERNSEY)                                 | DBAG FUND VI (GUERNSEY)                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | FR        |         0 | OU      | $26914.40     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INDEX VENTURES GROWTH III                               | INDEX VENTURES GROWTH III                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |   2160543 | NS      | $2920333.85   | 1.61%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TURKISH PRIVATE EQUITY FUND 3                           | TURKISH PRIVATE EQUITY FUND 3                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $175406.02    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PG POWER PTE LTD COMMON EQUITY                          | PG POWER PTE LTD COMMON EQUITY                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    696549 | NS      | $546482.52    | 0.30%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Index Ventures VI (Jersey), L.P.                        | Index Ventures VI (Jersey), L.P.                        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | JE        |         0 | OU      | $3337744.13   | 1.83%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ESG Holdco II LLC                                       | ESG Holdco II LLC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $1.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SIGMA PARTNERS VII LP                                   | SIGMA PARTNERS VII LP                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | US        |         0 | OU      | $10575.83     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PROJECT SENATOR HOLDING VII LP                          | PROJECT SENATOR HOLDING VII LP                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1687151 | NS      | $3483465.17   | 1.91%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VERDANE IDUN I (D) AB                                   | VERDANE IDUN I (D) AB                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |   1771349 | NS      | $2937713.09   | 1.61%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PERFORMANCE VENT CAP RENVST LP                          | PERFORMANCE VENT CAP RENVST LP                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3993301 | NS      | $5585921.89   | 3.07%             |  |  |  | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** Partners Group Growth, LLC

**Signature:** Brian Igoe

**Name of Signer:** Brian Igoe

**Title:** Chief Financial Officer