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
360
44 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 | 244 | 99c | 61 | 360 bp |
| Dec 31, 2025 | $9.7B | 284 | 100c | 112 | 353 bp |
| Sep 30, 2025 | $5.2B | 222 | 100c | 60 | 376 bp |
| Jun 30, 2025 | $26B | 213 | 100c | 59 | 381 bp |
| Mar 31, 2025 | $24B | 210 | 99c | 55 | 385 bp |
| Dec 31, 2024 | $37B | 264 | 100c | 95 | 440 bp |
| Sep 30, 2024 | $18B | 214 | 99c | 54 | 473 bp |
| Jun 30, 2024 | $18B | 217 | 100c | 52 | 488 bp |
| Mar 31, 2024 | $18B | 222 | 100c | 50 | 492 bp |
| Dec 31, 2023 | $32B | 227 | 100c | 119 | 511 bp |
| Sep 30, 2023 | $17B | 223 | 98c | 46 | 519 bp |
| Jun 30, 2023 | $16B | 220 | 100c | 41 | 533 bp |
| Mar 31, 2023 | $19B | 224 | 99c | 42 | 549 bp |
| Dec 31, 2022 | $15B | 230 | 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
- 7 borrowers $135M
- V••••• G••••• I•••••••• L• carried4 borrowers $75.2M
- S••••••••• C•••••• P••••••• carried3 borrowers $16.7M
- P••••••• P•••••••• L••• carried2 borrowers $221M
- A•••••• C•••••• M••••••••• L• carried2 borrowers $119M
- A•••••••• carried2 borrowers $73.9M
- 2 borrowers $71.2M
- R•• C•••••• P••••••• carried2 borrowers $45.0M
- F•••••••• P••••••• carried2 borrowers $44.9M
- H••••••• V••••••• M••••••••• L•• carried2 borrowers $37.3M
- G•••• C•••••• M••••••••• L•• carried1 borrower $190M
- M•• B•••••••• carried1 borrower $142M
- 1 borrower $133M
- W••••••••• H•••••• P••••••• L• carried1 borrower $114M
- S• C•••••• P••••••• carried1 borrower $67.1M
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
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- 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
- 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
- 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
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 · P••••••• P•••••••• L•••$185M 99c
- D••• T••••••••• I•• first lien term loan1 BDC hold it · matures Jul 1, 2030 · M•• B••••••••$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 |
|---|---|---|---|---|---|
| Total V•••• A••••••••• I••. Drug Discovery & Development | unstated lien unstated | n/a | $1.4M 86c | ||
| S••••• S•••••••, Contentful Global, Inc., Equity, 11/20/2018 | preferred equity equity | n/a | $1.3M 258c | ||
| V•••• A••••••••• I••., Equity, 9/6/2023 Drug Discovery & Development | preferred equity equity | n/a | $1.3M 85c | ||
| D•••••• T•••••••••, Saronic T•••••••••, Inc. | preferred equity equity | n/a | $1.2M 97c | ||
| J••••••••• U••• I••. Consumer & Business Services | term loan first lien | $1.1M | $1.1M 100c | S+100 bp PIK 9.00% | Oct 1, 2028 |
| S••••• H••••• H•••••••• L••, Equity, 6/27/2025 H•••••care Services, Other | equity equity | n/a | $988,000 165c | ||
| C••••• L••, Equity, 12/15/2021 Consumer & Business Services | preferred equity equity | n/a | $948,000 82c | ||
| D•••••••• I••. Application S••••••• | warrants equity | n/a | $932,000 202c | ||
| V••• H•••••• L••, Equity, 10/31/2022 Drug Discovery & Development | preferred equity equity | n/a | $899,000 90c | ||
| T••••••••• I••. Consumer & Business Services | warrants equity | n/a | $827,000 84c | ||
| S••••• H••••• H•••••••• L•• H•••••care Services, Other | warrants equity | n/a | $809,000 291c | ||
| C••••• H••••• H•••••••• L•• H•••••care Services, Other | warrants equity | n/a | $790,000 506c | ||
| S•••••• I••., Equity, 3/8/2022 Electronics & Computer Hardware | preferred equity equity | n/a | $784,000 52c | ||
| T•••••• C•••••••••, Equity, 12/29/2023 Consumer & Business Services | preferred equity equity | n/a | $782,000 6c | ||
| Total T•••••• C••••••••• Consumer & Business Services | unstated lien unstated | n/a | $782,000 6c | ||
| L•••••• P••••••••• I••. Drug Discovery & Development | warrants equity | n/a | $725,000 162c | ||
| C•••••• I••. Drug Discovery & Development | warrants equity | n/a | $697,000 299c | ||
| D•••••• T•••••••••, Hermeus Corporation | warrants equity | n/a | $692,000 120c | ||
| S••••• S•••••••, Druva Holdings, Inc., Equity, 8/24/2017 | preferred equity equity | n/a | $661,000 220c | ||
| S•••••• I••. Electronics & Computer Hardware | warrants equity | n/a | $655,000 118c | ||
| S••••• S•••••••, Semperis T••••••••• Inc. | warrants equity | n/a | $627,000 141c | ||
| N••••••• T•••••••••, Equity, 12/15/2021 Drug Discovery & Development | preferred equity equity | n/a | $623,000 31c | ||
| K•••••• L••, Equity, 5/23/2025 Application S••••••• | unstated lien unstated | n/a | $611,000 12c | ||
| K•••••• L••., Equity, 5/23/2025 Application S••••••• | unstated lien unstated | n/a | $600,000 12c | ||
| V••••••• T••••••••• I••., Equity, 11/6/2023 Drug Discovery & Development | equity equity | n/a | $594,000 149c | ||
| S••••• S•••••••, Harness, Inc. | warrants equity | n/a | $527,000 99c | ||
| K••• O•••••••• I••., Equity, 6/16/2023 Drug Discovery & Development | equity equity | n/a | $525,000 95c | ||
| M••••••••• T•••••••••, VulcanForms Inc. | warrants equity | n/a | $506,000 684c | ||
| C•••••••• I••. Application S••••••• | preferred equity equity | n/a | $494,000 915c | ||
| S••••• S•••••••, Contentful Global, Inc., Equity, 12/22/2020 | preferred equity equity | n/a | $488,000 354c | ||
| Total O••••••• I••. Consumer & Business Services | unstated lien unstated | n/a | $477,000 21c | ||
| A••••• B••••••••• I••. Biotechnology Tools | warrants equity | n/a | $474,000 1317c | ||
| N••••••• T•••••••••, Convertible Debt, June 2027, FIXED Drug Discovery & Development | unstated lien unstated | $473,000 | $473,000 100c | Jun 1, 2027 | |
| P•••••• S•••••••• I••. Application S••••••• | warrants equity | n/a | $431,000 87c | ||
| C•••••• P••••••• p•• Drug Discovery & Development | warrants equity | n/a | $429,000 154c | ||
| B•••••• T••••••••• P••, Equity, 10/5/2020 Drug Discovery & Development | equity equity | n/a | $416,000 22c | ||
| P•••• B••• I••., Equity, 6/28/2021 Sustainable and Renewable T••••••••• | preferred equity equity | n/a | $405,000 9c | ||
| H•••••••• I••., Equity, 1/22/2026 Application S••••••• | preferred equity equity | n/a | $400,000 100c | ||
| W••••••••• G•••• L••••••, Equity, 6/24/2024 Consumer & Business Services | preferred equity equity | n/a | $394,000 43c | ||
| B••••• H•••••• I••. H•••••care Services, Other | warrants equity | n/a | $387,000 97c | ||
| B•••• T••••••••• P••••. Drug Discovery & Development | preferred equity equity | n/a | $383,000 156c | ||
| L•••• R••••••• C•••., Equity, 11/17/2022 Electronics & Computer Hardware | preferred equity equity | n/a | $379,000 58c | ||
| F•••• • V••••••• I•••••••••, S••••• S•••••••, Liberty Zim Co-Invest L.P., Investment Funds & V•••••••, 7/21/2022 | unstated lien unstated | n/a | $371,000 96c | ||
| S•••• T•••••••••, HawkEye 360, Inc. | warrants equity | n/a | $365,000 161c | ||
| O••••••• I••., Equity, 10/25/2016 Consumer & Business Services | preferred equity equity | n/a | $346,000 21c | ||
| M•••••••• I••. Application S••••••• | warrants equity | n/a | $303,000 120c | ||
| Total F••••••••• I••. Consumer & Business P••••••• | unstated lien unstated | n/a | $290,000 24c | ||
| B••••••• T••••••••• I••. Application S••••••• | warrants equity | n/a | $286,000 101c | ||
| O•••••••• B••••• H•••••••• I••. Medical D•••••• & Equipment | warrants equity | n/a | $281,000 130c | ||
| D••••••••• C••••••• I••. Application S••••••• | warrants equity | n/a | $280,000 156c | ||
| O••••••, Equity, 6/28/2013 Consumer & Business Services | equity equity | n/a | $276,000 48c | ||
| E•••••• I••. Application S••••••• | warrants equity | n/a | $267,000 121c | ||
| O••••• H••••• G••••• I••. H•••••care Services, Other | warrants equity | n/a | $263,000 157c | ||
| C••••• H••••• H•••••••• L••, Equity, 3/26/2026, Class C Non Voting H•••••care Services, Other | equity equity | n/a | $261,000 132c | ||
| F••••••••• I••., Equity, 7/16/2013 Consumer & Business P••••••• | preferred equity equity | n/a | $255,000 23c | ||
| M••••••••• T•••••••••, Bright Machines, Inc. | warrants equity | n/a | $247,000 46c | ||
| X• P••••••••• I••., Equity, 11/26/2019 Drug Discovery & Development | equity equity | n/a | $244,000 8c | ||
| S•••• T•••••••••, Loft Orbital S•••••••• Inc.. | warrants equity | n/a | $240,000 130c | ||
| H••••••••• I••., Equity, 5/7/2021 Drug Discovery & Development | preferred equity equity | n/a | $239,000 6c | ||
| Total T•••••• S•••••••• L••. Application S••••••• | unstated lien unstated | n/a | $231,000 47c | ||
| P•••••• I••. Biotechnology Tools | warrants equity | n/a | $227,000 49c | ||
| I••••• T••••••••• I••. Application S••••••• | preferred equity equity | n/a | $225,000 205c | ||
| C••••••• A••••••••• L••, Equity, 10/15/2021 Medical D•••••• & Equipment | preferred equity equity | n/a | $222,000 89c | ||
| Total C••••••• A••••••••• L•• Medical D•••••• & Equipment | unstated lien unstated | n/a | $222,000 89c | ||
| E••••••• H••••••• C•. Sustainable and Renewable T••••••••• | warrants equity | n/a | $219,000 43c | ||
| D••••••••• I••. Application S••••••• | warrants equity | n/a | $210,000 76c | ||
| C•••••• T••••••••• G••••• I••. Medical D•••••• & Equipment | warrants equity | n/a | $210,000 141c | ||
| S•••• S•••••••• I••. Medical D•••••• & Equipment | warrants equity | n/a | $200,000 55c | ||
| T•••• V••••• P•••••••• I••. Sustainable and Renewable T••••••••• | warrants equity | n/a | $195,000 84c | ||
| T•••••• S•••••••• L••. Application S••••••• | warrants equity | n/a | $193,000 54c | ||
| S••••• X Holding, LLC, Equity, 4/30/2010 Consumer & Business P••••••• | equity equity | n/a | $190,000 1462c | ||
| M•••• T••••••••• I••. Application S••••••• | warrants equity | n/a | $188,000 50c | ||
| P••• G•••• I••. Consumer & Business Services | warrants equity | n/a | $188,000 91c | ||
| Total S••••••••• H•••••••• I••. Medical D•••••• & Equipment | unstated lien unstated | n/a | $187,000 48c | ||
| S••••• S•••••••, Docker, Inc., Equity, 11/29/2018 | equity equity | n/a | $165,000 4c | ||
| Total C••••• L•• Consumer & Business Services | unstated lien unstated | n/a | $163,000 89c | ||
| H•••• T••••••••• I••., Equity, 7/25/2023 Drug Discovery & Development | equity equity | n/a | $156,000 31c | ||
| S•••• T••••••••• L•••••• Drug Discovery & Development | preferred equity equity | n/a | $156,000 78c | ||
| S•••• T•••••••••, LeoLabs, Inc. | warrants equity | n/a | $150,000 127c | ||
| m••••• I••. Application S••••••• | warrants equity | n/a | $147,000 89c | ||
| Total A••••••• S••••••••• C••••••••• S•••••••••s | unstated lien unstated | n/a | $139,000 83c | ||
| F•••• P•••••••• I••. Consumer & Business Services | preferred equity equity | n/a | $136,000 111c | ||
| C••••• L•• Consumer & Business Services | warrants equity | n/a | $136,000 83c | ||
| O••••••• I••., Equity, 10/25/2016 Consumer & Business Services | preferred equity equity | n/a | $131,000 21c | ||
| E•••••• H•••••• I••. Application S••••••• | warrants equity | n/a | $131,000 18c | ||
| A••••••• S••••••••• C•••••••••, Equity, 6/26/2015 S•••••••••s | preferred equity equity | n/a | $122,000 1743c | ||
| S••••••••• H•••••••• I••. Medical D•••••• & Equipment | warrants equity | n/a | $122,000 111c | ||
| F••••• S••••••••• I••. Application S••••••• | warrants equity | n/a | $113,000 35c | ||
| S••••• S•••••••, Akeyless S••••••• Ltd. | warrants equity | n/a | $105,000 112c | ||
| V•••• A••••••••• I••., Equity, 7/2/2025, SAFE Drug Discovery & Development | unstated lien unstated | n/a | $103,000 100c | ||
| 9•• D••••••• I••. Electronics & Computer Hardware | warrants equity | n/a | $101,000 100c | ||
| C••••••••• H••••• H•••••••• L•• H•••••care Services, Other | preferred equity equity | n/a | $99,000 105c | ||
| A••••••••• A•••••••• I••. Application S••••••• | warrants equity | n/a | $97,000 22c | ||
| N•••• I••., Equity, 9/17/2021 Consumer & Business Services | equity equity | n/a | $92,000 9c | ||
| I••••••••• F••••• I••., Equity, 5/10/2019 Sustainable and Renewable T••••••••• | preferred equity equity | n/a | $91,000 5c | ||
| M••••• L•••• I••. H•••••care Services, Other | warrants equity | n/a | $90,000 39c | ||
| V••• H•••••• L•• Drug Discovery & Development | warrants equity | n/a | $84,000 33c | ||
| C••••••••, LLC (p.k.a. C••••••••• I••.) Drug Discovery & Development | preferred equity equity | n/a | $83,000 29c | ||
| L•••• R••••••• C•••. Electronics & Computer Hardware | warrants equity | n/a | $81,000 238c | ||
| T•• R••••••• C••••••• I••. (p.k.a. Recover Together, Inc.) H•••••care Services, Other | warrants equity | n/a | $80,000 21c |
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