DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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BDC portfolio
H••••••• C••••••• I•••
BDCHTGC, HCXYCIK 1280784file 814-00702SAN MATEO, CAinternally managed
Fair value
$5.1B
as of Jun 30, 2026
Principal held
$4.8B
debt pieces, the filer's figure
Cost
$5.1B
99c on cost
Unfunded
$408M
commitments not yet drawn
Positions
459
218 borrowers
First lien
88%
95% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
363
32 sponsors financed
Portfolio through time
Fair value by quarter end$5.1B as of Jun 30, 2026
Dec 31, 2022$15B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $5.1B | 218 | 99c | 55 | 351 bp |
| Mar 31, 2026 | $5.6B | 224 | 99c | 61 | 360 bp |
| Dec 31, 2025 | $9.7B | 254 | 100c | 112 | 353 bp |
| Sep 30, 2025 | $5.2B | 218 | 100c | 60 | 376 bp |
| Jun 30, 2025 | $26B | 208 | 100c | 59 | 381 bp |
| Mar 31, 2025 | $24B | 204 | 99c | 55 | 385 bp |
| Dec 31, 2024 | $37B | 235 | 100c | 95 | 440 bp |
| Sep 30, 2024 | $18B | 209 | 99c | 54 | 473 bp |
| Jun 30, 2024 | $18B | 212 | 100c | 52 | 488 bp |
| Mar 31, 2024 | $18B | 217 | 100c | 50 | 492 bp |
| Dec 31, 2023 | $32B | 223 | 100c | 119 | 511 bp |
| Sep 30, 2023 | $17B | 217 | 98c | 46 | 519 bp |
| Jun 30, 2023 | $16B | 214 | 100c | 41 | 533 bp |
| Mar 31, 2023 | $19B | 218 | 99c | 42 | 549 bp |
| Dec 31, 2022 | $15B | 224 | 99c | 39 | 569 bp |
Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Sponsors financed
- V••••• G••••• I•••••••• L• carried4 borrowers $75.2M
- S••••••••• C•••••• P••••••• carried3 borrowers $16.7M
- A•••••••• carried2 borrowers $73.9M
- 2 borrowers $71.2M
- R•• C•••••• P••••••• carried2 borrowers $45.0M
- F•••••••• P••••••• carried2 borrowers $44.9M
- 1 borrower $133M
- W••••••••• H•••••• P••••••• L• carried1 borrower $114M
- S• C•••••• P••••••• carried1 borrower $67.1M
- L•••••• C•••••• M••••••••• L•• carried1 borrower $60.8M
- O•••• F••• M••••••••• L•• carried1 borrower $57.3M
- 1 borrower $46.8M
- V••••• C•••••• M••••••••• L••• carried1 borrower $45.7M
- H•• C•••••• carried1 borrower $38.4M
- F••••••• C•••••• carried1 borrower $35.0M
Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
What changed
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
Largest facilities held, with co-lenders
- S••••• S••••••• first lien term loan1 BDC hold it · matures Jan 1, 2031$504M 99c
- D•••••• T••••••••• first lien term loan1 BDC hold it · matures Jun 1, 2030$237M 102c
- M••••••• H•••••• L•• first lien term loan1 BDC hold it · matures Feb 1, 2029$185M 99c
- D••• T••••••••• I•• first lien term loan1 BDC hold it · matures Jul 1, 2030$142M 102c
- P•••••• P••••••••• I•• first lien term loan1 BDC hold it · matures Feb 1, 2029 · N•••••••• C•••••• M••••••••• L•••••$133M 101c
- C••••••• L•• first lien term loan1 BDC hold it · matures May 1, 2030$130M 100c
- T•••••• S•••••••• L•• first lien term loan1 BDC hold it · matures Apr 1, 2029$117M 99c
- H•••• T••••••••• I•• first lien term loan1 BDC hold it · matures Sep 1, 2030$80.8M 97c
- B••• S•••• P••••••••• I•• first lien term loan1 BDC hold it · matures Nov 1, 2026$77.3M 99c
- A•••• B••••••••• I•• first lien term loan1 BDC hold it · matures Sep 1, 2030$76.5M 105c
- X• P••••••••• I•• first lien term loan1 BDC hold it · matures Jul 1, 2027$75.0M 100c
- M••• S••••• R••••• I•• first lien term loan1 BDC hold it · matures Jul 1, 2027$73.5M 100c
Schedule of investments at Jun 30, 2026
459 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| S•••• I••. Application S••••••• | term loan first lien | $22.7M | $17.0M 74c | S+175 bp PIK 1.95% | Aug 1, 2027 |
| B•••• T••••••••• P••••. Drug Discovery & Development | term loan first lien | $17.3M | $16.8M 99c | S+245 bp | Oct 1, 2029 |
| P••• I••••••••• H••••••• L•• Consumer & Business Services | term loan first lien | $15.9M | $15.6M 100c | S+700 bp | May 1, 2031 |
| S••••••••• H•••••••• I••. M•••••• Devices & Equipment | term loan first lien | $15.5M | $15.4M 101c | S+240 bp | Aug 1, 2029 |
| O•••••••• B••••• H•••••••• I••. M•••••• Devices & Equipment | term loan first lien | $15.0M | $15.3M 101c | S+200 bp | Nov 1, 2028 |
| 4• M•••••••• T••••••••• I••. Drug Discovery & Development | term loan first lien | $15.2M | $15.0M 100c | S+200 bp | Jun 1, 2031 |
| C•••••••• I••••••••• H•••••• L•• H•••••care Services, Other | term loan first lien | $15.0M | $14.8M 100c | S+320 bp | Jun 1, 2030 |
| P••••• O•••••• L•• Application S••••••• | term loan first lien | $15.0M | $14.7M 100c | S+730 bp | Dec 1, 2030 |
| S••••• S•••••••, Scylla DB Ltd. | term loan first lien | $15.0M | $14.6M 98c | S+300 bp | Jul 1, 2029 |
| P•••• Consumer & Business Services | term loan first lien | $14.2M | $14.1M 99c | S+440 bp | Dec 1, 2027 |
| N•••• I••. Consumer & Business Services | term loan first lien | $14.0M | $14.0M 100c | S+350 bp | Nov 1, 2029 |
| D•••••• T•••••••••, Hermeus Corporation | term loan first lien | $14.3M | $13.9M 100c | S+275 bp PIK 1.00% | Mar 1, 2030 |
| U••••• I••. Application S••••••• | term loan first lien | $14.2M | $13.8M 98c | S+220 bp | Jun 1, 2028 |
| Total J••••••••• U••• I••. Consumer & Business Services | unstated lien unstated | $15.6M | $13.3M 82c | ||
| S••••• S•••••••, Akeyless Security Ltd. | term loan first lien | $13.4M | $13.2M 100c | S+400 bp | Aug 1, 2028 |
| E••••••• H••••••• C•. Sustainable and R••••able Technology | term loan first lien | $12.8M | $12.8M 99c | S+225 bp PIK 1.25% | May 1, 2028 |
| Z••••• I••. Application S••••••• | term loan first lien | $12.6M | $12.4M 100c | S+803 bp | Dec 1, 2027 |
| J••••••••• U••• I••. Consumer & Business Services | term loan first lien | $14.5M | $12.3M 80c | S+350 bp PIK 3.25% | Oct 1, 2028 |
| O••••• H••••• G••••• I••. H•••••care Services, Other | term loan first lien | $12.5M | $12.2M 99c | S+270 bp | Oct 1, 2029 |
| S••••• S•••••••, Expel, Inc. | term loan first lien | $12.0M | $11.7M 98c | S+390 bp | Apr 1, 2029 |
| S••••• S•••••••, Morphisec Information Security 2014 Ltd. | term loan first lien | $11.4M | $11.6M 99c | S+345 bp | Oct 1, 2027 |
| K•••••• L•• Application S••••••• | term loan first lien | $11.7M | $11.3M 97c | May 1, 2030 | |
| L••••••••• L•• Application S••••••• | term loan first lien | $11.5M | $11.1M 99c | S+828 bp | Aug 1, 2029 |
| B••••• H•••••• I••. H•••••care Services, Other | term loan first lien | $11.3M | $10.9M 98c | S+225 bp | Nov 1, 2029 |
| T••••• W•••••••• I••. Communications & Networking | term loan first lien | $11.0M | $10.9M 100c | S+400 bp | Mar 1, 2030 |
| A••••• S•••••••• I••. Consumer & Business Services | term loan first lien | $11.0M | $10.8M 100c | S+780 bp | Mar 1, 2031 |
| S•••• T••••••••• L•••••• Drug Discovery & Development | term loan first lien | $10.5M | $10.6M 101c | S+140 bp | May 1, 2028 |
| m••••• I••. Application S••••••• | term loan first lien | $10.9M | $10.6M 100c | S+350 bp | Jun 1, 2029 |
| T••••••• H••••• H•••••••• L•• H•••••care Services, Other | term loan first lien | $10.2M | $10.2M 100c | S+100 bp PIK 1.25% | Dec 1, 2029 |
| S••••• S•••••••, ControlUp, Inc. | term loan first lien | $10.1M | $10.0M 100c | S+25 bp PIK 2.00% | Jan 1, 2031 |
| S••••• S•••••••, Neo4j, Inc. | term loan first lien | $10.0M | $9.9M 100c | S+260 bp | Apr 1, 2030 |
| G•••••••• A••••••••• LLC Diversified Financial Services | unstated unsecured or subordinated | $10.0M | $9.9M 100c | Jul 1, 2029 | |
| C••••••••• I••. Consumer & Business Services | term loan first lien | $10.1M | $9.8M 98c | S+350 bp | Feb 1, 2030 |
| S•••• T•••••••••, Loft Orbital S•••••••• Inc. | term loan first lien | $8.9M | $8.7M 100c | S+175 bp PIK 1.00% | Dec 1, 2029 |
| C••••••••• H••••• H•••••••• L•• H•••••care Services, Other | term loan first lien | $8.5M | $8.3M 100c | S+120 bp PIK 1.00% | May 1, 2030 |
| T•••••• C••••••••• Consumer & Business Services | term loan first lien | $8.3M | $8.3M 100c | Jan 1, 2027 | |
| D••••••• T••••••••• I••. Application S••••••• | term loan first lien | $8.2M | $8.2M 101c | S+786 bp | Apr 1, 2028 |
| H••••••• A•••••• L•• Diversified Financial Services | unstated unsecured or subordinated | $8.0M | $8.0M 100c | Mar 1, 2027 | |
| I••••• T••••••••• I••. Application S••••••• | term loan first lien | $7.5M | $7.5M 100c | S+155 bp PIK 1.00% | Nov 1, 2028 |
| A••••••• I••. Drug Discovery & Development | term loan first lien | $7.0M | $7.3M 102c | S+105 bp | Dec 1, 2028 |
| S••••• S•••••••, Coronet Cyber Security Ltd. | term loan first lien | $7.4M | $7.1M 96c | S+-295 bp PIK 5.85% | Oct 1, 2028 |
| O•••• H•••••••• L•• Application S••••••• | term loan first lien | $7.0M | $7.0M 100c | S+805 bp | Jul 1, 2027 |
| S••••••• I••. Consumer & Business Services | term loan first lien | $6.8M | $6.9M 97c | S+275 bp PIK 1.75% | Nov 1, 2027 |
| S•••• T•••••••••, LeoLabs, Inc. | term loan first lien | $6.6M | $6.5M 100c | S+290 bp PIK 0.95% | Apr 1, 2030 |
| S•••••••• I••. Consumer & Business Services | warrants equity | n/a | $6.5M 522c | ||
| A•••• B••••••••• I••., E•••••, 2/19/2025 Drug Discovery & Development | equity equity | n/a | $6.3M 280c | ||
| K••• O•••••••• I••. Drug Discovery & Development | term loan first lien | $5.5M | $5.8M 102c | S+240 bp | Nov 1, 2027 |
| A••••• B••••••••• I••., E•••••, 2/21/2024 Biotechnology Tools | equity equity | n/a | $5.6M 376c | ||
| F•••• • V••••••• I•••••••••, Drug Discovery & Development, Forbion Growth O••••••••• Fund I C.V., Investment Funds & V•••••••, 11/16/2020 | unstated lien unstated | n/a | $5.2M 168c | ||
| D•••••• T•••••••••, Saronic T•••••••••, Inc., E•••••, 3/27/2026 | preferred equity equity | n/a | $5.1M 119c | ||
| S••••• S•••••••, DNSFilter, Inc. | term loan first lien | $5.0M | $5.0M 100c | S+215 bp PIK 0.75% | Oct 1, 2028 |
| R•••• H•••• L•• Sustainable and R••••able Technology | term loan first lien | $5.0M | $5.0M 100c | S+300 bp | Mar 1, 2030 |
| M••••••••• L•• Application S••••••• | term loan first lien | $5.0M | $4.9M 100c | S+784 bp | Aug 1, 2027 |
| T•••• V••••• P•••••••• I••. Sustainable and R••••able Technology | term loan first lien | $5.0M | $4.8M 100c | S+245 bp | Oct 1, 2028 |
| S•••• T•••••••••, Stoke S•••• T•••••••••, Inc. | warrants equity | n/a | $4.4M 441c | ||
| C•••••• T••••••••• G••••• I••. M•••••• Devices & Equipment | term loan first lien | $4.5M | $4.4M 100c | S+270 bp | Jan 1, 2030 |
| M••••••• P••••••••• I••. Drug Discovery & Development | warrants equity | n/a | $4.2M 741c | ||
| S•••• T•••••••••, Total Stoke S•••• T•••••••••, Inc. | unstated lien unstated | n/a | $4.0M 143c | ||
| Total C••••• H••••• H•••••••• L•• H•••••care Services, Other | unstated lien unstated | n/a | $4.0M 148c | ||
| A••••••• I••. Biotechnology Tools | warrants equity | n/a | $3.8M 237c | ||
| S••••• S•••••••, Total Druva Holdings, Inc. | unstated lien unstated | n/a | $3.8M 291c | ||
| D••• T••••••••• I••., E•••••, 7/2/2025 Drug Discovery & Development | equity equity | n/a | $3.8M 269c | ||
| C••••• H••••• H•••••••• L••, E•••••, 5/13/2024, Class B Voting H•••••care Services, Other | equity equity | n/a | $3.7M 149c | ||
| D•••••• T•••••••••, Shield AI, Inc., E•••••, 2/7/2025 | preferred equity equity | n/a | $3.7M 164c | ||
| D•••••• T•••••••••, Total Saronic T•••••••••, Inc. | unstated lien unstated | n/a | $3.4M 171c | ||
| T• T••••••••• I••. Drug Discovery & Development | warrants equity | n/a | $3.4M 471c | ||
| A•••• C•••• Application S••••••• | term loan first lien | $3.3M | $3.3M 100c | S+999 bp PIK 9.99% | Dec 1, 2025 |
| Total A•••• C•••• Application S••••••• | unstated lien unstated | $10.7M | $3.3M 31c | ||
| W••••• S••••• M••••••• L••, E•••••, 6/10/2024 H•••••care Services, Other | equity equity | n/a | $3.3M 207c | ||
| i•••••••• I••. Application S••••••• | term loan first lien | $3.3M | $3.3M 98c | S+225 bp PIK 1.00% | Jan 1, 2029 |
| P•••••••• L•• Consumer & Business Services | term loan first lien | $3.0M | $3.2M 102c | S+255 bp | Oct 1, 2026 |
| S••••• S•••••••, Druva Holdings, Inc., E•••••, 10/22/2015 | preferred equity equity | n/a | $3.1M 313c | ||
| B•••• C••• A•, Inc. affiliates, E•••••, 3/24/2021, Preferred Application S••••••• | notes lien unstated | n/a | $3.0M 100c | ||
| S••••• S•••••••, PayIt, LLC | term loan first lien | $2.8M | $2.8M 100c | S+300 bp PIK 1.50% | Dec 1, 2028 |
| S••••• S•••••••, Dragos, Inc. | warrants equity | n/a | $2.7M 175c | ||
| A••••• T••••••••• I••. Drug Discovery & Development | warrants equity | n/a | $2.7M 652c | ||
| Y••••• L••, E•••••, 12/30/2021 Information Services | preferred equity equity | n/a | $2.6M 69c | ||
| M••• T••••••••• I••., E•••••, 4/23/2026 Drug Discovery & Development | equity equity | n/a | $2.6M 127c | ||
| Total V••• H•••••• L•• Drug Discovery & Development | unstated lien unstated | n/a | $2.6M 64c | ||
| S•••• T•••••••••, Stoke S•••• T•••••••••, Inc., E•••••, 9/23/2025 | preferred equity equity | n/a | $2.4M 167c | ||
| N••••••••• I••., E•••••, 8/1/2018 Application S••••••• | equity equity | n/a | $2.3M 48c | ||
| N• H••••••• 2••• S••• L••., E•••••, 6/21/2024 H•••••care Services, Other | equity equity | n/a | $2.2M 100c | ||
| D•••••• T•••••••••, Saronic T•••••••••, Inc. | preferred equity equity | n/a | $2.2M 303c | ||
| S•••• D•••• I••. Application S••••••• | term loan first lien | $5.0M | $2.2M 42c | S+100 bp PIK 1.95% | Mar 1, 2027 |
| C•••• T••••••••• I••., E•••••, 5/20/2024 H•••••care Services, Other | equity equity | n/a | $2.2M 131c | ||
| S•••• T•••••••••, Planet Labs PBC, E•••••, 1/13/2026 | equity equity | n/a | $2.0M 131c | ||
| W••••• I••. Consumer & Business P••••••• | preferred equity equity | n/a | $2.0M 11571c | ||
| E•••••, SAFE | unstated lien unstated | n/a | $1.9M 100c | ||
| M••••••• I•••••••••, E•••••, 11/6/2025 Drug Discovery & Development | equity equity | n/a | $1.9M 186c | ||
| m••••• I••., E•••••, 6/26/2026, SAFE Application S••••••• | unstated lien unstated | n/a | $1.8M 100c | ||
| S••••• S•••••••, Total Contentful Global, Inc. | unstated lien unstated | n/a | $1.8M 279c | ||
| S••••• S•••••••, Zimperium, Inc. | term loan first lien | $1.8M | $1.8M 100c | S+539 bp | May 1, 2027 |
| S•••• T•••••••••, Stoke S•••• T•••••••••, Inc., E•••••, 2/6/2026 | preferred equity equity | n/a | $1.7M 118c | ||
| V••• H•••••• L••, E•••••, 12/11/2020 Drug Discovery & Development | preferred equity equity | n/a | $1.7M 55c | ||
| P•••••• P••••••••• I••., E•••••, 6/9/2023 Drug Discovery & Development | equity equity | n/a | $1.6M 92c | ||
| M••• S••••• R••••• I••., E•••••, 10/28/2024 H•••••care Services, Other | preferred equity equity | n/a | $1.6M 181c | ||
| u•••••• B••., E•••••, 1/31/2019 Drug Discovery & Development | equity equity | n/a | $1.6M 142c | ||
| O•••••••• B••••• H•••••••• I••., E•••••, 8/4/2025 M•••••• Devices & Equipment | equity equity | n/a | $1.6M 157c | ||
| F•••• • V••••••• I•••••••••, Drug Discovery & Development, Forbion Growth O••••••••• Fund II C.V., Investment Funds & V•••••••, 6/23/2022 | unstated lien unstated | n/a | $1.5M 96c | ||
| L•••• I••., E•••••, 12/26/2018 Consumer & Business Services | equity equity | n/a | $1.5M 28c |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2012 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- HERCULES TECHNOLOGY GROWTH CAPITAL INCreported
- Latest schedule
- 0001280784-26-000042reported