# EDGAR Filing Document

**Accession Number:** 0002041398
**File Stem:** 0001193125-26-083049
**Filing Date:** 2026-2
**Character Count:** 71854
**Document Hash:** ab57559e169a59e5271d0c3f0e126c35
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-083049.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001193125-26-083049

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hamilton Lane Private Secondary Fund
- **CENTRAL INDEX KEY:** 0002041398

**ORGANIZATION NAME:**
- **EIN:** 996764913
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24010
- **FILM NUMBER:** 26701211

**BUSINESS ADDRESS:**
- **STREET 1:** 110 WASHINGTON STREET, SUITE 1300
- **CITY:** CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428
- **BUSINESS PHONE:** 888-882-8212

**MAIL ADDRESS:**
- **STREET 1:** 110 WASHINGTON STREET, SUITE 1300
- **CITY:** CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428

## Nport-Ex

**Hamilton Lane Private Secondary Fund**

**Consolidated Schedule of Investments**

**December 31, 2025 (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments - 118.1%** | **Footnotes** | **Investment Type** | **Acquisition Date** | **Cost** | **Fair Value** |
| **Secondary Investments - 92.1%†,^** |  |  |  | | |
| &nbsp;&nbsp;&nbsp;**Secondary Funds - 92.1%** |  |  |  | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Asia - 1.6%** |  |  |  | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified - 1.6%** |  |  |  | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Multiples Plenty Private Equity GIFT Fund | \*1,2,3 | Limited Partnership Interest | 5/14/2025 | $3552138 | $4000438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Diversified** |  |  |  |  | 4000438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Asia** |  |  |  |  | 4000438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**North America - 69.8%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified - 57.5%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advent International GPE IX-G, L.P. | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 1313268 | 1397850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AH American Dynamism Fund I, L.P. | \*1,2,3 | Limited Partnership Interest | 7/7/2025 | 65113 | 74782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AH Parallel Fund III, L.P. | \*1,2,3 | Limited Partnership Interest | 7/7/2025 | 135557 | 249328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AH Parallel Fund IV, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 152159 | 182631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AH Parallel Fund V, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 536707 | 922436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AKKR Isosceles CV, L.P. | \*1,2,3 | Limited Partnership Interest | 6/26/2025 | 4093113 | 4285256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund II Annex, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 33778 | 42002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund II, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 31422 | 38691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund III, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 893023 | 1584030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund IV, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 328101 | 340754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund V, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 643192 | 918710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund VI, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 627567 | 839393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund VII, L.P. | \*1,2,3 | Limited Partnership Interest | 7/7/2025 | 276592 | 363220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund VIII, L.P. | \*1,2,3 | Limited Partnership Interest | 7/7/2025 | 231885 | 383524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund IX - AI Applications, L.P. | \*1,2,3 | Limited Partnership Interest | 7/7/2025 | 38285 | 38995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Fund IX - AI Infrastructure, L.P. | \*1,2,3 | Limited Partnership Interest | 7/7/2025 | 56457 | 69201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz LSV Fund I, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 403518 | 681349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz LSV Fund II, L.P. | \*1,3 | Limited Partnership Interest | 7/7/2025 | 424635 | 584777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz LSV Fund III, L.P. | \*1,2,3 | Limited Partnership Interest | 7/7/2025 | 384796 | 588765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz LSV Fund IV, L.P. | \*1,2,3 | Limited Partnership Interest | 7/7/2025 | 269808 | 318978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Andreessen Horowitz Seed Fund I, L.P. | \*1,2,3 | Limited Partnership Interest | 7/7/2025 | 94201 | 157348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apollo Investment Fund IX, L.P. | \*1,2,3 | Limited Partnership Interest | 1/2/2025 | 1594485 | 1774073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apollo Investment Fund IX, L.P. - Second Commitment | \*1,2,3 | Limited Partnership Interest | 1/2/2025 | 229034 | 254830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audax Private Equity Fund V, L.P. | \*1,2,3 | Limited Partnership Interest | 12/30/2025 | 495383 | 515425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audax Private Equity Fund VI, L.P. | \*1,3 | Limited Partnership Interest | 12/30/2025 | 1211485 | 1482133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audax Private Equity Fund VII, L.P. | \*1,2,3 | Limited Partnership Interest | 12/30/2025 | 1048029 | 1062376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Fund XI, L.P. | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 370429 | 568212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Fund XII, L.P. | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 1128118 | 1434491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Fund XIII, L.P. | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 981076 | 1059639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bain Capital Fund X, L.P. | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 101594 | 110931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banner Capital Fund I, L.P. | \*1,2,3 | Limited Partnership Interest | 6/6/2025 | 4306326 | 7082138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banner Capital Fund I-A, L.P. | \*1,2,3 | Limited Partnership Interest | 6/6/2025 | 714476 | 1175019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cevine Capital Management VI No. 1 Feeder, L.P., Inc. | \*1,2,3,4 | Limited Partnership Interest | 6/30/2025 | 441009 | 343192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clayton Dubilier & Rice Fund X, L.P. | \*1,2,3 | Limited Partnership Interest | 12/30/2025 | 888586 | 1193725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clayton Dubilier & Rice Fund XII, L.P. | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 2257857 | 2680223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clayton Dubilier & Rice Fund XII, L.P. - Second Commitment | \*1,2,3 | Limited Partnership Interest | 12/30/2025 | 728998 | 839497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crestview Partners III CV-A, L.P. | \*1,2,3 | Limited Partnership Interest | 3/31/2025 | 3211121 | 5258781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT IX SCSp | \*1,2,3,4 | Limited Partnership Interest | 6/1/2025 | 1035870 | 1200788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ForgePoint Cybersecurity Fund II, L.P. | \*1,3 | Limited Partnership Interest | 6/30/2025 | 4969527 | 6882939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Francisco Partners IV, L.P. | \*1,2,3 | Limited Partnership Interest | 12/30/2025 | 494899 | 593136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Francisco Partners V, L.P. | \*1,2,3 | Limited Partnership Interest | 12/30/2025 | 1296260 | 1642613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Francisco Partners VI, L.P. | \*1,2,3 | Limited Partnership Interest | 12/30/2025 | 2049074 | 2579121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Francisco Partners VII, L.P. | \*1,2,3 | Limited Partnership Interest | 12/30/2025 | 548270 | 525990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genstar Capital Partners X, L.P. | \*1,2,3 | Limited Partnership Interest | 6/27/2025 | 1732756 | 1728956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genstar Capital Partners IX, L.P. | \*1,2,3 | Limited Partnership Interest | 6/27/2025 | 1523737 | 1314292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Green Equity Investors VIII, L.P. | \*1,2,3 | Limited Partnership Interest | 12/31/2024 | 1076341 | 1211212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Green Equity Investors VIII, L.P. - Second Commitment | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 767482 | 887613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Green Equity Investors VIII, L.P. - Third Commitment | \*1,2,3 | Limited Partnership Interest | 12/31/2025 | 2593224 | 2958094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hellman & Friedman Capital Partners VIII, L.P. | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 3286026 | 3177229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hellman & Friedman Capital Partners VIII, L.P. - Second Commitment | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 795421 | 921994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hellman & Friedman Capital Partners VIII, L.P. - Third Commitment | \*2,2,3 | Limited Partnership Interest | 12/31/2025 | 38354 | 44457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hellman & Friedman Capital Partners IX, L.P. | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 5904712 | 6975998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hellman & Friedman Capital Partners IX, L.P. - Second Commitment | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 4252424 | 4930785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hellman & Friedman Capital Partners IX, L.P. - Third Commitment | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 1597139 | 2053879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hellman & Friedman Capital Partners IX, L.P. - Fourth Commitment | \*1,2,3 | Limited Partnership Interest | 12/31/2025 | 3043047 | 3589237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hellman & Friedman Capital Partners X, L.P. | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 1091399 | 1260157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H.I.G. Europe Capital Partners III, L.P. | \*1,2,3,4 | Limited Partnership Interest | 12/30/2025 | 725918 | 898036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KKR Americas Fund XII, L.P. | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 1433171 | 1992666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KKR Americas Fund XII, L.P. - Second Commitment | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 708768 | 985463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KKR Americas Fund XII, L.P. - Third Commitment | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 779903 | 909719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Dearborn Capital Partners VII, L.P. | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 201677 | 226962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Dearborn Capital Partners VII, L.P. - Second Commitment | \*1,2,3 | Limited Partnership Interest | 12/31/2025 | 2932125 | 3282006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Dearborn Capital Partners VII, L.P. - Third Commitment | \*1,2,3 | Limited Partnership Interest | 12/31/2025 | 667620 | 751324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Dearborn Capital Partners VIII, L.P. | \*1,2,3 | Limited Partnership Interest | 12/31/2024 | 997854 | 1090389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Dearborn Capital Partners VIII, L.P. - Second Commitment | \*1,2,3 | Limited Partnership Interest | 12/31/2024 | 266053 | 291314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Dearborn Capital Partners VIII, L.P. - Third Commitment | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 232839 | 249375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Dearborn Capital Partners VIII, L.P. - Fourth Commitment | \*1,2,3 | Limited Partnership Interest | 12/31/2025 | 3067929 | 3284912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison Dearborn Capital Partners VIII, L.P. - Fifth Commitment | \*1,2,3 | Limited Partnership Interest | 12/31/2025 | 855195 | 915928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Mountain Partners VI, L.P. | \*1,2,3 | Limited Partnership Interest | 12/31/2024 | 1411343 | 1714726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permira VII, L.P. | \*1,2,3,4 | Limited Partnership Interest | 6/30/2025 | 754567 | 891287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Platinum Equity Capital Partners V, L.P. | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 931900 | 838055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Providence Equity Partners VIII-A, L.P. | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 496674 | 535285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Providence Equity Partners VIII-A, L.P. - Second Commitment | \*1,2,3 | Limited Partnership Interest | 10/1/2025 | 12586987 | 14274627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PSG Sequel, L.P. | \*1,2,3 | Limited Partnership Interest | 1/31/2025 | 2552996 | 3082874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roark Capital Partners III, L.P. | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 1078064 | 1547316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roark Capital Partners IV, L.P. | \*1,2,3 | Limited Partnership Interest | 6/30/2025 | 1712917 | 2388820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roark Capital Partners VII, L.P. | \*1,2 | Limited Partnership Interest | 6/30/2025 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Resolute III Continuation Fund, L.P. | \*1,2,3 | Limited Partnership Interest | 9/27/2024 | 2289694 | 2406773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thoma Bravo Fund XII, L.P. | \*1,2,3 | Limited Partnership Interest | 6/1/2025 | 205716 | 217929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thoma Bravo Fund XV, L.P. | \*1,2,3 | Limited Partnership Interest | 12/31/2024 | 1561885 | 1839460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trident VIII, L.P. | \*1,2,3 | Limited Partnership Interest | 12/31/2025 | 2829027 | 3008431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vic SPV LLC | \*1,2,3 | Limited Partnership Interest | 9/30/2025 | 9641757 | 11518712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Diversified** |  |  |  |  | 144517584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financials - 1.6%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MDCP Co-Investors (Mobius), L.P. | \*1,3 | Limited Partnership Interest | 12/31/2025 | $867926 | 955058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MDCP Co-Investors (Tango), L.P. | \*1,3 | Limited Partnership Interest | 12/31/2025 | $1222938 | 1413551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MDCP Insurance SPV, L.P. | \*1,2,3 | Limited Partnership Interest | 12/31/2025 | $1503500 | 1683870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Financials** |  |  |  |  | 4052479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Healthcare - 1.2%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Sapphire POF, L.P. | \*1,2,3 | Limited Partnership Interest | 9/27/2024 | $1926881 | 3030990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Healthcare** |  |  |  |  | 3030990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Industrials - 5.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Levine Leichtman Capital Partners VII, L.P. | \*1,2,3,4 | Limited Partnership Interest | 12/11/2024 | 58087 | 60373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LLCP LMM Acquisition Fund, L.P. | \*1,2,3,4 | Limited Partnership Interest | 11/20/2024 | 2015824 | 2437691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OIP Lightning, L.P. | \*1,2,3 | Limited Partnership Interest | 12/9/2025 | 10942344 | 10942344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Industrials** |  |  |  |  | 13440408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Information Technology - 4.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Capital Partners II, L.P. | \*1,3 | Limited Partnership Interest | 12/22/2025 | 7500000 | 10273973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Information Technology** |  |  |  |  | 10273973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total North America** |  |  |  |  | 175315434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Western Europe - 20.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Goods- 1.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L Catterton Europe IV Aggregator, SLP | \*1,3,4 | Limited Partnership Interest | 11/25/2024 | 1352127 | 2393741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L Catterton Europe V, SLP | \*1,2,3,4 | Limited Partnership Interest | 3/11/2025 | 351763 | 444713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Consumer Goods** |  |  |  |  | 2838454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified- 19.6%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Argos Wityu Mid-Market VIII 1 SCSp | \*1,2,3,4 | Limited Partnership Interest | 12/4/2025 | 11820179 | 12813103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bregal Unternehmerkapital II, SCSp | \*1,2,3,4 | Limited Partnership Interest | 7/8/2025 | 6165830 | 7671002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVC Capital Partners Strategic Opportunities II, L.P. | \*1,2,3,4 | Limited Partnership Interest | 7/1/2025 | 4097304 | 4974137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVC Capital Partners VII, L.P. | \*1,2,3,4 | Limited Partnership Interest | 12/31/2024 | 834499 | 950316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVC Capital Partners VIII, L.P. | \*1,2,3,4 | Limited Partnership Interest | 7/1/2025 | 582754 | 689384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVC Capital Partners VIII, L.P. - Second Commitment | \*1,2,3,4 | Limited Partnership Interest | 12/31/2025 | 3462114 | 3809665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H.I.G. Europe Middle Market LBO Fund II, L.P. | \*1,2,3,4 | Limited Partnership Interest | 12/30/2025 | 832889 | 948320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Levine Leichtman Capital Partners Europe II SCSp | \*1,2,3,4 | Limited Partnership Interest | 6/13/2025 | 4255927 | 4123328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MCP Cont. Fund II Coöperatief U.A. | \*1,2,3,4 | Limited Partnership Interest | 9/25/2025 | 3454132 | 3707715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norvestor SPV III SCSp | \*1,2,3,4 | Limited Partnership Interest | 9/6/2024 | 2827009 | 3264575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TDR Capital IV, L.P. | \*1,2,3,4 | Limited Partnership Interest | 12/31/2025 | 1352349 | 1590999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TDR Capital V, L.P. | \*1,2,3,4 | Limited Partnership Interest | 12/31/2025 | 1466440 | 1725224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VIP III, L.P. | \*1,2,3,4 | Limited Partnership Interest | 9/6/2024 | 2266098 | 2645213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VIP V SCSp | \*1,2,3,4 | Limited Partnership Interest | 10/18/2024 | 302860 | 295784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Diversified** |  |  |  |  | 49208765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Western Europe** |  |  |  |  | 52047219 |
| &nbsp;&nbsp;&nbsp;**Total Secondary Funds (Cost $194,773,636)** |  |  |  |  | 231363091 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Interest rate** | **Principal Value** | **Shares** | **Cost** | **Fair Value** |
| **Short Term Investments - 26.0%** | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan U.S. Government Money Market Fund - Agency Shares | 3.94%<sup>6</sup> | N/A | 343785 | $343785 | $343785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UMB Bank, Money Market Special | 0.02%<sup>6</sup> | 42646000 | N/A | 42646000 | 42646000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UMB Bank, Money Market II Special Deposit Investment | 3.43%<sup>6</sup> | 22298042 | N/A | 22298042 | 22298042 |
| &nbsp;&nbsp;&nbsp;**Total Short Term Investments (Cost $65,287,827)** |  |  |  |  | 65287827 |
| **Total Investments (Cost $260,061,463)** |  |  |  |  | **296650918** |
| Liabilities in excess of other assets - (18.1%) |  |  |  |  | (45525449) |
| **Total Net Assets - 100%** |  |  |  |  | $**251125469** |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Secondary Investments are portfolios of assets purchased on the secondary market. |
| ^ | Investments do not issue shares except where listed. Investments do not allow redemptions or withdrawals except at discretion of its general partner, manager or advisor. |
| **\*** | Investment is non-income producing. |
| **<sup>1</sup>** | Restricted Security. Investments generally issued in private placement transactions and as such 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 December 31, 2025 was $231,363,091, or 92.1% of net assets. |
| **<sup>2</sup>** | Investment has been committed to but has not been fully funded by the Fund. |
| **<sup>3</sup>** | All or a portion of this security is held through HL PSF Splitter LLC. |
| **<sup>4</sup>** | Foreign security denominated in U.S. Dollars. |
| **<sup>5</sup>** | Affiliated security. |
| **<sup>6</sup>** | The rate is the annualized seven-day yield at period end. |

---

*See accompanying Notes to Consolidated Schedule of Investments.*

**Hamilton Lane Private Secondary Fund**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS**

**December 31, 2025 (Unaudited)**

**Note 1 – Fair Value of Financial Instruments**

The Fund values its investments at fair value in accordance with FASB ASC 820, *Fair Value Measurement* ("***ASC 820***"). The fair value of the Fund's assets which qualify as financial instruments approximates the carrying amounts presented in the Consolidated Statement of Assets and Liabilities.

Rule 2a-5 under the Investment Company Act ("***Rule 2a-5***") establishes requirements for determining fair value in good faith for purposes of the Investment Company Act. Rule 2a-5 permits fund boards to designate certain parties to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are "readily available" for purposes of the Investment Company Act and the threshold for determining whether a fund must fair value a security. In connection with Rule 2a-5, the SEC adopted related recordkeeping requirements and rescinded previously issued guidance, including with respect to the role of a board in determining fair value and the accounting and auditing of fund investments. Effective October 15, 2024, and pursuant to the requirements of Rule 2a-5, the Fund's Board of Trustees (the "***Board***") designated the Adviser as its valuation designee (in such capacity, the "***Valuation Designee***") to perform fair value determinations and approved new valuation procedures for the Fund. Adoption of the rule did not have a material impact to the Fund's valuation policies and procedures.

The Fund's investments are generally not publicly traded, and thus, market quotations are not available to be used for valuation purposes. Therefore, the Adviser is required to value these investments at estimated fair values, using present value and other subjective valuation techniques. In determining the fair value of an investment for which there are no readily available market quotations, the Valuation Designee may consider pre-acquisition and annual financial reporting summaries from a Portfolio Fund, comparable company factors, including fundamental analytical data relating to the investment, the nature and duration of any restriction on the disposition of the investment, the cost of the investment at the date of purchase, the liquidity of the market for the investment, the price of such investment in a meaningful private or public investment or merger or acquisition of the issuer subsequent to the Fund's investment therein, or the per share price of the investment to be valued in recent verifiable transactions.

Certain Portfolio Funds and Direct Investments are valued based on the latest net asset value ("***NAV***") reported by the third-party fund manager or general partner. This is commonly referred to as using NAV as a practical expedient which allows for estimation of the fair value of a private investment based on NAV or its equivalent if the NAV of the private fund is calculated in a manner consistent with ASC 946. In cases where the NAV of the private investment is not available as of the measurement date, the Valuation Designee estimates NAV based upon the most recent NAV provided from the third-party manager or general partner, as adjusted for other information available at the time the portfolio is valued. Such adjustments may include adjustments for additional capital contributions or distributions, as well as market adjustments determined by the Valuation Designee based upon the returns of public market indices and the historical alignment of such public market indices against private indices of a similar strategy to the investment.

For portfolio investments that are publicly traded and for which market quotations are available, valuations are generally based on the closing sales prices, or an average of the closing bid and ask prices, as of the valuation date.

Under the Fund's valuation procedures adopted by the Board, the Board has delegated day-to-day responsibility for fair value determinations and pricing to the Valuation Designee subject to the oversight of the Board. The Valuation Designee is responsible for developing the Fund's written valuation processes and procedures, conducting periodic reviews of the valuation policies, and evaluating the overall fairness and consistent application of the valuation policies.

**Hamilton Lane Private Secondary Fund**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**December 31, 2025 (Unaudited)**

**Note 2 – Portfolio Valuation**

ASC 820 defines fair value as the value that the Fund would receive to sell an investment or pay to transfer a liability in a timely transaction with an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the asset or liability. ASC 820 establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund's own assumptions about the assumptions that market participants would use in valuing the asset or liability developed based on the best information available in the circumstances. Each investment is assigned a level based upon the observation of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below:

Level I: Quoted prices (unadjusted) are available in active markets for identical investments as of the reporting date. The types of investments which would generally be included in Level I include listed equities.

Level II: Pricing inputs other than quoted prices available in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. The types of investments which would generally be included in Level II include corporate bonds and loans, and less liquid and restricted equity securities. This category also includes interests in special purpose vehicles whose fair value is predominantly attributable to investments in Level I type securities.

Level III: 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 or estimation. Those unobservable inputs, that are not corroborated by market data, generally reflect the reporting entity's own assumptions about the assumptions market participants would use in determining the fair value of the investment. The types of investments which would generally be included in Level III include equity and/or debt securities issued by private entities and investments in Portfolio Funds.

The Fund has established valuation processes and procedures to ensure that the valuation techniques are fair and consistent, and valuation inputs are supportable. The Valuation Designee is responsible for developing the Fund's written valuation processes and procedures, conducting periodic reviews of the valuation policies, and evaluating the overall fairness and consistent application of the valuation policies. The Fund's investments in Portfolio Funds are carried at fair value which generally represents the Fund's pro-rata interest in the net assets of each Portfolio Fund as reported by the administrators and/or investment managers of the underlying Portfolio Funds. All valuations utilize financial information supplied by each Portfolio Fund and are net of management and incentive fees or allocations payable to the Portfolio Funds' managers or pursuant to the Portfolio Funds' agreements. The Fund's valuation procedures require the Valuation Designee to consider all relevant information available at the time the Fund values its portfolio. The Valuation Designee has assessed factors including, but not limited to, the individual Portfolio Fund's compliance with fair value measurements, price transparency and valuation procedures in place. The Valuation Designee will consider such information and consider whether it is appropriate, in light of all relevant circumstances, to value such a position at its NAV as reported or whether to adjust such value. The underlying investments of each Portfolio Fund are accounted for at fair value as described in each Portfolio Fund's financial statements.

The fair value relating to certain underlying investments of these Portfolio Funds, for which there is no ready market, has been estimated by the respective Portfolio Funds' management and is based upon available information in the absence of readily ascertainable fair values and does not necessarily represent amounts that might ultimately be realized. Due to the inherent uncertainty of valuation, those estimated fair values may differ significantly from the values that would have been used had a ready market for the investments existed. These differences could be material.

**Hamilton Lane Private Secondary Fund**

**NOTES TO CONSOLIDATED SCHEDULE OF INVESTMENTS - Continued**

**December 31, 2025 (Unaudited)**

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the inputs used, as of December 31, 2025, in valuing the Fund's assets and liabilities carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level I** | **Level II\*** | **Level III\*** | **Total** |
| **Assets** | | | | |
| Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Short Term Investments | $65287827 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $65287827 |
| Total Investments | $65287827 | $- | $- | $65287827 |

---

\*The Fund did not hold any Level II or III securities as of December 31, 2025.

Certain portfolio investments fair valued using net asset value (or its equivalent) as a practical expedient are not included in the fair value hierarchy. As such, investments in securities with a fair value of $231,363,091 are excluded from the fair value hierarchy as of December 31, 2025.

**Note 3 – Investments in Affiliated Issuers**

An affiliated issuer is an entity in which the Fund has ownership of at least 5% of the voting securities or any investment in a fund that receives investment advisory services from Hamilton Lane. Issuers that are affiliates of the Fund at period-end are noted in the Fund's Schedule of Investments. Additional security purchases and the reduction of certain securities shares outstanding of existing portfolio holdings that were not considered affiliated in prior years may result in the Fund owning in excess of 5% of the outstanding shares at period-end. The table below reflects transactions during the period with entities that are affiliates as of December 31, 2025 and may include acquisitions of new investments, prior year holdings that became affiliated during the period and prior period affiliated holdings that are no longer affiliated as of period-end:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Name of Issuer and | Value at<br> March 31, |  | Sales | Net<br> Realized<br> Gain | Change in<br> Unrealized<br> Appreciation | Value at<br> December 31, | Dividends and Distributions | Dividends and Distributions |
| Title of Issue | 2025 | Purchases | Proceeds | (Loss) | (Depreciation) | 2025 | Capital Gains | Income |
| Vic SPV, LLC <sup>(1)(2)(3)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $9641757 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $1876955 | $11518712 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Total | $- | $9641757 | $- | $- | $1876955 | $11518712 | $- | $- |

---

<sup>(1)</sup> Not an affiliate at the beginning of the period.

<sup>(2)</sup> Non-Income Producing.

<sup>(3)</sup> The security has unfunded commitments of $1,373 as of December 31, 2025.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Hamilton Lane Private Secondary Fund

- **b. Investment Company Act file number:** 811-24010

- **c. CIK number of Registrant:** 0002041398

- **d. LEI of Registrant:** 5299005OBZEE73EW5J27

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

  - **Street Address 1:** 110 Washington St., Ste. 1300

  - **City:** Conshohocken

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19428

  - **Telephone number:** 8663611720

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

- **a. Name of Series:** Hamilton Lane Private Secondary Fund

- **c. LEI of Series:** 5299005OBZEE73EW5J27

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $307518928.39

**Total Liabilities:** $56393459.17

**Net Assets:** $251125469.22

**Cash Not Reported:** $503333.50

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 2.79%                | 0.19%                | 3.67%                |
| Class ID N/A | 2.68%                | 0.06%                | 3.58%                |
| Class ID N/A | 2.86%                | 0.19%                | 3.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $159608.09               | $5735874.16                                |
| Month 2  | $409174.91               | $301980.15                                 |
| Month 3  | $2485858.95              | $6958370.39                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MDCP Insurance SPV LP(Proj Mont) | MDCP Insurance SPV LP(Proj Mont) | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1683870.37   | 0.67%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MDCP Co-Investors (Tango) LP     | MDCP Co-Investors (Tango) LP     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1413551.04   | 0.56%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MDCP Co-Investors (Mobius) LP    | MDCP Co-Investors (Mobius) LP    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $955057.94    | 0.38%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Crestview Partners III CV-A, LP  | Crestview Partners III CV-A, LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $5258780.86   | 2.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Clayton Dubilier& Rice Fd XII LP | Clayton Dubilier& Rice Fd XII LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2680222.75   | 1.07%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Clayton Dub & Rice Fd XII LP     | Clayton Dub & Rice Fd XII LP     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $839497.00    | 0.33%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Clayton Dub & Rice Fd X LP       | Clayton Dub & Rice Fd X LP       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1193725.00   | 0.48%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz Seed Fd I LP | Andreessen Horowitz Seed Fd I LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $157347.89    | 0.06%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz LSV Fd II LP | Andreessen Horowitz LSV Fd II LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $584777.12    | 0.23%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz LSV Fd I LP  | Andreessen Horowitz LSV Fd I LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $681349.26    | 0.27%             |  |  |  | Yes           | N/A                | On Loan: No      |
| VIP V S.C.Sp.                    | VIP V S.C.Sp.                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $295784.10    | 0.12%             |  |  |  | Yes           | N/A                | On Loan: No      |
| VIP III, L.P.                    | VIP III, L.P.                    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $2645212.71   | 1.05%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Vic SPV LLC                      | Vic SPV LLC                      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $11518712.27  | 4.59%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SF8888628                        | SF8888628                        | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             | CORP              | US        |  22298042 | PA      | $22298042.00  | 8.88%             |  |  |  | No            | 1                  | On Loan: No      |
| MCP Cont. Fund II Cooperatief UA | MCP Cont. Fund II Cooperatief UA | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | NL        |         1 | OU      | $3707715.31   | 1.48%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MadisonDearborn Cap PrtnsVIII-B  | MadisonDearborn Cap PrtnsVIII-B  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $291314.16    | 0.12%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MadisonDearborn Cap PrtnsVIII-A  | MadisonDearborn Cap PrtnsVIII-A  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1090389.07   | 0.43%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MadDearCapPtnrsVII LP (B)-Statue | MadDearCapPtnrsVII LP (B)-Statue | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $226962.37    | 0.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MadDearCapPtnrsVII LP (A)-Statue | MadDearCapPtnrsVII LP (A)-Statue | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $751323.71    | 0.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MadDearCapPartVIII LP(B)-Statue  | MadDearCapPartVIII LP(B)-Statue  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $249374.68    | 0.10%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MadDearCapPartners VIII-C, LP    | MadDearCapPartners VIII-C, LP    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $3284911.59   | 1.31%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MadDearCapPart VIII LP(A)-Statue | MadDearCapPart VIII LP(A)-Statue | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $915927.55    | 0.36%             |  |  |  | Yes           | N/A                | On Loan: No      |
| MadDearCapPart VII-C Global LP   | MadDearCapPart VII-C Global LP   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $3282005.89   | 1.31%             |  |  |  | Yes           | N/A                | On Loan: No      |
| LLCP LMM Acquisition Fund LP     | LLCP LMM Acquisition Fund LP     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2437690.56   | 0.97%             |  |  |  | Yes           | N/A                | On Loan: No      |
| LLCP Europe II SCSp              | LLCP Europe II SCSp              | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $4123328.10   | 1.64%             |  |  |  | Yes           | N/A                | On Loan: No      |
| LLCP Cap Partners VII-A, L.P.    | LLCP Cap Partners VII-A, L.P.    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $60373.35     | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| L Catterton Europe V, SLP        | L Catterton Europe V, SLP        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $444712.89    | 0.18%             |  |  |  | Yes           | N/A                | On Loan: No      |
| L Catterton Europe IV Agg SLP    | L Catterton Europe IV Agg SLP    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $2393741.21   | 0.95%             |  |  |  | Yes           | N/A                | On Loan: No      |
| KKR Americas Fund XII LP (Flow)  | KKR Americas Fund XII LP (Flow)  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $909719.45    | 0.36%             |  |  |  | Yes           | N/A                | On Loan: No      |
| KKR Americas Fund XII L.P. - B   | KKR Americas Fund XII L.P. - B   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $985463.02    | 0.39%             |  |  |  | Yes           | N/A                | On Loan: No      |
| KKR Americas Fund XII L.P. - A   | KKR Americas Fund XII L.P. - A   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1992666.39   | 0.79%             |  |  |  | Yes           | N/A                | On Loan: No      |
| OGAXX                            | OGAXX                            | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             | CORP              | US        |    343785 | NS      | $343784.91    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| HIG Eur MM LBO Feeder Fund LP    | HIG Eur MM LBO Feeder Fund LP    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | FR        |         1 | OU      | $948319.69    | 0.38%             |  |  |  | Yes           | N/A                | On Loan: No      |
| HIG Eur Cap Ptnrs III Feed Fd LP | HIG Eur Cap Ptnrs III Feed Fd LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | CA        |         1 | OU      | $898036.11    | 0.36%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hellman&FriedCapPt X LP(Statue)  | Hellman&FriedCapPt X LP(Statue)  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1260156.81   | 0.50%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hellman&FriedCapPt IX LP-Cavalry | Hellman&FriedCapPt IX LP-Cavalry | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $3589237.00   | 1.43%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hellman&FriedCapPt IX LP(Statue) | Hellman&FriedCapPt IX LP(Statue) | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2053879.05   | 0.82%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Cevine Cap Mgmt VI No 1 Fd LP    | Cevine Cap Mgmt VI No 1 Fd LP    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $343192.41    | 0.14%             |  |  |  | Yes           | N/A                | On Loan: No      |
| BregalUnternehmerkapitalII-ASCSp | BregalUnternehmerkapitalII-ASCSp | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | CH        |         1 | OU      | $7671001.80   | 3.05%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Blackrock Sapphire POF LP        | Blackrock Sapphire POF LP        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $3030989.58   | 1.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Banner Capital Fund I-A, LP      | Banner Capital Fund I-A, LP      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1175018.85   | 0.47%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Banner Capital Fund I, LP        | Banner Capital Fund I, LP        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $7082138.05   | 2.82%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Bain Capital Fd X, LP (Statue)   | Bain Capital Fd X, LP (Statue)   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $110930.79    | 0.04%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Bain Cap Fd XIII LP (Statue)     | Bain Cap Fd XIII LP (Statue)     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1059639.14   | 0.42%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Bain Cap Fd XII LP (Statue)      | Bain Cap Fd XII LP (Statue)      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1434490.86   | 0.57%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Bain Cap Fd XI LP (Statue)       | Bain Cap Fd XI LP (Statue)       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $568212.28    | 0.23%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Audax PE Fund VII-B, L.P.        | Audax PE Fund VII-B, L.P.        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1062375.52   | 0.42%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Audax PE Fund VI-B, L.P.         | Audax PE Fund VI-B, L.P.         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1482132.75   | 0.59%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Audax PE Fund V-B, L.P.          | Audax PE Fund V-B, L.P.          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $515425.35    | 0.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Argos Wityu Mid-Market VIII      | Argos Wityu Mid-Market VIII      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | LU        |         1 | OU      | $12813103.02  | 5.10%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Apollo Investment Fund IX LP - B | Apollo Investment Fund IX LP - B | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $254830.27    | 0.10%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Apollo Investment Fund IX LP - A | Apollo Investment Fund IX LP - A | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1774073.17   | 0.71%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AndreessenHorowitzFdIXAI InfraLP | AndreessenHorowitzFdIXAI InfraLP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $69201.31     | 0.03%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AndreessenHorowitzFd IX AI AppLP | AndreessenHorowitzFd IX AI AppLP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $38994.66     | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AndreessenHorowitz LSV Fd IV LP  | AndreessenHorowitz LSV Fd IV LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $318977.79    | 0.13%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AndreessenHorowitz LSV Fd III LP | AndreessenHorowitz LSV Fd III LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $588765.39    | 0.23%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz Fund VIII LP | Andreessen Horowitz Fund VIII LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $383524.43    | 0.15%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz Fund VII, LP | Andreessen Horowitz Fund VII, LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $363219.76    | 0.14%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz Fund VI, LP  | Andreessen Horowitz Fund VI, LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $839392.74    | 0.33%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz Fund V, L.P. | Andreessen Horowitz Fund V, L.P. | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $918709.55    | 0.37%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz Fund IV, LP  | Andreessen Horowitz Fund IV, LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $340753.78    | 0.14%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz Fund III LP  | Andreessen Horowitz Fund III LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1584029.65   | 0.63%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz Fund II, LP  | Andreessen Horowitz Fund II, LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $38691.03     | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Andreessen Horowitz Annex Fd LP  | Andreessen Horowitz Annex Fd LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $42001.82     | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AKKR Isosceles CV LP             | AKKR Isosceles CV LP             | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $4285256.46   | 1.71%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AH Parallel Fund V, L.P.         | AH Parallel Fund V, L.P.         | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $922436.32    | 0.37%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AH Parallel Fund IV, L.P.        | AH Parallel Fund IV, L.P.        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $182631.50    | 0.07%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AH Parallel Fund III, L.P.       | AH Parallel Fund III, L.P.       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $249327.90    | 0.10%             |  |  |  | Yes           | N/A                | On Loan: No      |
| AH American Dynamism Fund I, LP  | AH American Dynamism Fund I, LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $74782.23     | 0.03%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Advent Intl GPE IX-G LP          | Advent Intl GPE IX-G LP          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1397850.27   | 0.56%             |  |  |  | Yes           | N/A                | On Loan: No      |
| A Capital Partners II, L.P.      | A Capital Partners II, L.P.      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $10273972.61  | 4.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| SF8888205                        | SF8888205                        | CUSIP: 999999999<br>LEI: N/A | Long             | STIV             | CORP              | US        |  42646000 | PA      | $42646000.00  | 16.98%            |  |  |  | No            | 1                  | On Loan: No      |
| Trident VIII, L.P.               | Trident VIII, L.P.               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $3008431.00   | 1.20%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Thoma Bravo Fund XV, L.P.        | Thoma Bravo Fund XV, L.P.        | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1839460.13   | 0.73%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Thoma Bravo Fund XII-A, LP       | Thoma Bravo Fund XII-A, LP       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $217928.64    | 0.09%             |  |  |  | Yes           | N/A                | On Loan: No      |
| The Resolute III Continuation    | The Resolute III Continuation    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2406773.39   | 0.96%             |  |  |  | Yes           | N/A                | On Loan: No      |
| TDR Capital V L.P.               | TDR Capital V L.P.               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $1725223.72   | 0.69%             |  |  |  | Yes           | N/A                | On Loan: No      |
| TDR Capital IV (A) L.P.          | TDR Capital IV (A) L.P.          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | GB        |         1 | OU      | $1590998.97   | 0.63%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Roark Capital Partners VII LP    | Roark Capital Partners VII LP    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Roark Capital Partners IV LP     | Roark Capital Partners IV LP     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2388819.97   | 0.95%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Roark Capital Partners III, L.P. | Roark Capital Partners III, L.P. | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1547315.99   | 0.62%             |  |  |  | Yes           | N/A                | On Loan: No      |
| PSG Sequel-A L.P.                | PSG Sequel-A L.P.                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $3082873.80   | 1.23%             |  |  |  | Yes           | N/A                | On Loan: No      |
| ProvidenceEqty InvSide VIII-A LP | ProvidenceEqty InvSide VIII-A LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $535285.41    | 0.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Providence Eqty Ptnrs Fund VIII  | Providence Eqty Ptnrs Fund VIII  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $14274627.01  | 5.68%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Platinum Eqty Cap Partners V LP  | Platinum Eqty Cap Partners V LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $838054.77    | 0.33%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Permira VII L.P. 1               | Permira VII L.P. 1               | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $891286.85    | 0.35%             |  |  |  | Yes           | N/A                | On Loan: No      |
| OIP Lightning, LP                | OIP Lightning, LP                | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $10942343.90  | 4.36%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Norvestor SPV III SCSp           | Norvestor SPV III SCSp           | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | NO        |         1 | OU      | $3264575.28   | 1.30%             |  |  |  | Yes           | N/A                | On Loan: No      |
| New Mountain Partners VI LP      | New Mountain Partners VI LP      | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1714726.20   | 0.68%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Multiples Plenty PE GIFT Fund    | Multiples Plenty PE GIFT Fund    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | IN        |         1 | OU      | $4000437.96   | 1.59%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hellman &Friedman CapPtnrs IX LP | Hellman &Friedman CapPtnrs IX LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $4930784.58   | 1.96%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hellman & Friedman Execs IX LP   | Hellman & Friedman Execs IX LP   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $6975998.00   | 2.78%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Hellman & Friedman Exec VIII LP  | Hellman & Friedman Exec VIII LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $3177228.89   | 1.27%             |  |  |  | Yes           | N/A                | On Loan: No      |
| H&FCapPntrsVIII-Statue(CL B)     | H&FCapPntrsVIII-Statue(CL B)     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $44456.73     | 0.02%             |  |  |  | Yes           | N/A                | On Loan: No      |
| H&F CapPntrs VIII-Statue(CL A)   | H&F CapPntrs VIII-Statue(CL A)   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $921993.84    | 0.37%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Green Equity Investors VIII, LP  | Green Equity Investors VIII, LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1211212.52   | 0.48%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Green Eqty Invs SideVIII LP-Flow | Green Eqty Invs SideVIII LP-Flow | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $887612.62    | 0.35%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Green Eqty Inv VIII LP - Cavalry | Green Eqty Inv VIII LP - Cavalry | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2958094.00   | 1.18%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Genstar Cap Ptnrs IX LP - Marfik | Genstar Cap Ptnrs IX LP - Marfik | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1314292.48   | 0.52%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Genstar Cap Partners X, LP       | Genstar Cap Partners X, LP       | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1728956.45   | 0.69%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Francisco Partners VII-A, L.P.   | Francisco Partners VII-A, L.P.   | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $525990.00    | 0.21%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Francisco Partners VI-A, L.P.    | Francisco Partners VI-A, L.P.    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $2579120.55   | 1.03%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Francisco Partners V-A, L.P.     | Francisco Partners V-A, L.P.     | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1642612.95   | 0.65%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Francisco Partners IV-A, L.P.    | Francisco Partners IV-A, L.P.    | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $593135.70    | 0.24%             |  |  |  | Yes           | N/A                | On Loan: No      |
| ForgePointCybersecurity Fd II LP | ForgePointCybersecurity Fd II LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $6882938.96   | 2.74%             |  |  |  | Yes           | N/A                | On Loan: No      |
| EQT IX (No. 1) EUR SCSp          | EQT IX (No. 1) EUR SCSp          | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | US        |         1 | OU      | $1200788.46   | 0.48%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CVC Capital Partners VIII (A) LP | CVC Capital Partners VIII (A) LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | JE        |         1 | OU      | $689383.84    | 0.27%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CVC Capital Partners VII (A) LP  | CVC Capital Partners VII (A) LP  | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | DE        |         1 | OU      | $950316.19    | 0.38%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CVC Cap Ptnr VIII A LP - 2nd com | CVC Cap Ptnr VIII A LP - 2nd com | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | JE        |         1 | OU      | $3809664.83   | 1.52%             |  |  |  | Yes           | N/A                | On Loan: No      |
| CVC Cap Ptnr Strategic Opp II LP | CVC Cap Ptnr Strategic Opp II LP | CUSIP: 999999999<br>LEI: N/A | Long             |  | PF                | DE        |         1 | OU      | $4974137.32   | 1.98%             |  |  |  | Yes           | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2025-02-25

**Name of Applicant:** Hamilton Lane Private Secondary Fund

**Signature:** /s/ Kaylin Liu

**Name of Signer:** Kaylin Liu

**Title:** Treasurer