{"url_path":"/sec/cik-0002073537/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/2073537/0001193125-26-224075-index.html","accession_number":"0001193125-26-224075","cik":"0002073537","ticker":null,"issuer_name":"PIMCO Asset-Based Lending Co LLC","edgar_url":"https://www.sec.gov/Archives/edgar/data/2073537/0001193125-26-224075-index.html","primary_entity_key":"0002073537","primary_entity_name":"PIMCO Asset-Based Lending Co LLC"},"word_count":7347,"has_tables":true,"body_markdown":"10-Q\n\n##### Table of Contents\n\nfalse0002073537--12-31Q1trueCAInvestments for which fair value is measured using NAV per Share (or its equivalent) as a practical expedient are not categorized within the fair value hierarchy. The fair value presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Combined Statements of Assets and Liabilities and Combined Statements of Changes in Net Assets.Only issuers that exceed 5% of net assets are presented.All investments are U.S. domiciled, unless otherwise indicated.Pool of residential fix-and-flip loans acquired through a domestic common law trust, with a federally chartered bank serving as trustee. The Company accrues interest income at the pool level at the rate indicated, which represents estimated loan interest net of certain service provider fees.Represents personal loans held through a joint venture between the Company and multiple funds affiliated with the Operating Manager.Represents aircraft loans held through a joint venture between the Company and multiple funds affiliated with the Operating Manager. Loan interest rates range from 6.78% to 6.91% and loan maturity dates range from 12/13/2033 to 12/18/2037. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Represents auto loans held through a joint venture between the Company and multiple funds affiliated with the Operating Manager. Weighted average interest rate is 15.94% and weighted average maturity is 57 months. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers that exceed 5% of the respective Series’ net assetsAffiliated to the Company. As of December 31, 2025, Series I owned 0.02% and Series II owned 0.35% of the PIMCO ABS and Short-Term Investments Portfolio. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Represents auto loans held through a joint venture between the Company and multiple funds affiliated with the Operating Manager. Weighted average interest rate is 14.40% and weighted average maturity is 73 months. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Represents personal loans held through a joint venture between the Company and multiple funds affiliated with the Operating Manager. Weighted average interest rate is 12.29% and weighted average maturity is 12/10/2027. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Investment is Cayman Islands domiciled.Affiliated to the Company. As of December 31, 2025, Series I owned 1.07% and Series II owned 20.19% of the PIMCO Private Mortgage Opportunities Fund Onshore, L.P. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Represents aircraft loans held through a joint venture between the Company and multiple funds affiliated with the Operating Manager. The loan weighted average interest rate is 6.87% and the weighted average maturity is 105.4 months. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Represents auto loans held through a joint venture between the Company and multiple funds affiliated with the Operating Manager. Weighted average interest rate is 16.06% and weighted average maturity is 54 months. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Affiliated to the Company. As of March 31, 2026, Series I owned 0.02% and Series II owned 0.56% of the PIMCO ABS and Short-Term Investments Portfolio. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Represents auto loans held through a joint venture between the Company and multiple funds affiliated with the Operating Manager. Weighted average interest rate is 13.99% and weighted average maturity is 70 months. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Represents personal loans held through a joint venture between the Company and multiple funds affiliated with the Operating Manager. Weighted average interest rate is 12.45% and weighted average maturity is 03/31/2028. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers does not exceed 5% of the respective Series’ net assets.Affiliated to the Company. As of March 31, 2026, Series I owned 0.40% and Series II owned 9.18% of the PIMCO Private Mortgage Opportunities Fund Onshore, L.P. Through these investments in an affiliate, both Series and the Company indirectly owned other investments in affiliates. In aggregate, each Series proportional share of the market value of individual issuers that exceeds 5% of the respective Series’ net assets Inclusive of Shares issued pursuant to the DRIP.The per Share data was derived by using the weighted average Shares outstanding during the applicable period.The amount shown at this caption is the balancing amount derived from the other figures in the table. The amount shown at this caption for a Share outstanding throughout the period may not agree with the change in the aggregate gains and losses in investments for the period because of the timing of sales of Shares in relation to fluctuating market value for the portfolio.Actual results may not be indicative of future results. Additionally, a Shareholder’s ratio may vary from the ratios presented for a Share Class as a whole. For the applicable period, operating expenses are annualized except for Organizational and Offering Expenses and Performance Fees.The ratios were derived using the simple average net assets during the applicable period.Ratios do not reflect Series I and Series II’s proportionate share of income and expenses of the underlying investments in affiliates. See Note 3, Related Party Transactions and Agreements, in the Notes to Combined Financial Statements (Unaudited) for additional information.For the applicable period, investment income and operating expenses are annualized except for Organizational and Offering Expenses and Performance Fees.The total return is calculated for each Share Class as the change in the NAV for such Share Class during the period plus any distributions per Share declared in the period, and assumes any distributions are reinvested in accordance with the DRIP. Amounts are not annualized and are not representative of total return as calculated for purposes of the Performance Fees as described in Note 3. The Company, Series I and Series II’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Investment performance is presented without regard to sales load that may be incurred by Shareholders in the purchase of the Company, Series I and Series II’s Shares.Includes accrued interest.Net Exposure represents the net receivable/(payable) that would be due from/to the counterparty in the event of a default. Exposure from the Borrowings and Other Financing Transactions can only be netted across transactions governed under the same master agreements with the same legal entity. 0002073537 2026-01-01 2026-03-31 0002073537 2026-03-31 0002073537 2025-12-31 0002073537 2025-03-11 2025-03-31 0002073537 2025-01-01 2025-12-31 0002073537 2025-03-10 0002073537 2025-03-31 0002073537 ck0002073537:SeriesIMember 2026-03-31 0002073537 ck0002073537:SeriesIIMember 2026-03-31 0002073537 ck0002073537:SeriesIEntitiesMember ck0002073537:AnchorISharesMember 2026-03-31 0002073537 ck0002073537:SeriesIEntitiesMember ck0002073537:AnchorIISharesMember 2026-03-31 0002073537 ck0002073537:SeriesIIEntitiesMember ck0002073537:StandardASharesMember 2026-03-31 0002073537 ck0002073537:SeriesIIEntitiesMember ck0002073537:ESharesMember 2026-03-31 0002073537 ck0002073537:SeriesIEntitiesMember ck0002073537:AnchorIiBSharesMember 2026-03-31 0002073537 ck0002073537:SeriesIEntitiesMember ck0002073537:StandardBSharesMember 2026-03-31 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D.C. 20549\n\n \n\n \n\nFORM\n10-Q\n\n \n\n \n\n \n\n☒\n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\n \n\n☐\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from\n\n \n\n \n\n \n\n  \n\nto\n\n     \n\nCOMMISSION FILE NUMBER:\n000-56764\n\n \n\n \n\nPIMCO Asset-Based Lending Company LLC\n\n(Exact name of registrant as specified in its charter)\n\n \n\n \n\n \n\nDelaware\n\n \n\n33-4188434\n\n(State or other jurisdiction of\n\nincorporation or organization)\n\n \n\n(I.R.S. Employer\n\nIdentification No.)\n\n650 Newport Center Drive\n\nNewport Beach,\nCA\n92660\n\n(Address of principal executive offices) (zip code)\n\n(949)\n720-6000\n\n(Registrant’s telephone number, including area code)\n\nNot Applicable\n\n(Former name, former address and former fiscal year, if changed since last report)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\nTitle of each class\n\n \n\nTrading\nSymbol(s)\n\n \n\nName of each exchange\non which registered\n\nNone\n\n \n\nNone\n\n \n\nNone\n\n \n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of\nRegulation S-T\n(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a\nnon-accelerated\nfiler, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule\n12b-2\nof the Exchange Act.\n\n \n\nLarge accelerated filer\n \n☐\n  \nAccelerated filer\n \n☐\n\nNon-accelerated\nfiler\n \n☒\n  \nSmaller reporting company\n \n☐\n\nEmerging Growth Company\n \n☒\n  \n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule\n12b-2\nof the Exchange Act).  Yes ☐ No ☒\n\nAs of April 30, 2026, the registrant had, with respect to Series I limited liability company interests, 73,617 Anchor I Shares, 1,416,620 Anchor II Shares, 110 Anchor\nII-B\nShares, 43,273 Standard A Shares, 110 Standard B Shares, 216,102 E Shares and 40 V Shares outstanding, and with respect to Series II limited liability company interests,\n14,247,433\nAnchor I Shares,\n802,280\n\nAnchor\nI-B Shares,\n\n13,185,685\n\nAnchor II Shares, 110 Anchor II-B Shares,\n\n10,061,591\n\nAnchor III Shares,\n\n1,514,077\n\nStandard A Shares, 110 Standard B Shares, 4,396,753 E Shares and 40 V Shares outstanding. The number of Shares outstanding excludes May 1, 2026 subscriptions since the issuance price is not yet finalized as of the date of this filing.\n\n \n\n \n\n \n\n##### Table of Contents\n\nTable of Contents\n\n \n\n \n \n\nINDEX\n\n  \nPAGE\nNO.\n \n\nPART I.\n\n \n[FINANCIAL INFORMATION](#fin34275_1)"}