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S••••••• I••••••••• C••••

Business development companymanaged by S••••••• I••••••••• A•••••••• L••Listed: SAR, SAJ, SAT, SAV, SAX, SAY, SAZ· NEW YORK, NY

A business development company traded as SAR, SAJ, SAT, SAV, SAX, SAY, SAZ, managed by S••••••• I••••••••• A•••••••• L••, holding $3.4B across 109 borrowers at May 31, 2026.

Composed from this BDC's filings and its latest schedule of investments.

Fair value
$3.4B
Schedule of investments, 10-Q and 10-K
Borrowers
109
Schedule of investments, 10-Q and 10-K
Mark on cost
96.2¢
Schedule of investments, 10-Q and 10-K
First lien
23%
Schedule of investments, 10-Q and 10-K
Schedule of investments (205)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $120M
    on non-accrual, 1 borrower

    1 borrower on non-accrual, $120M principal; the largest is S••••••• I••••••••• C•••• C•• 2••••• ($120M).

    Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.

    FactBDC schedules of investments, 31 May 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen S••••••• I••••••••• C•••• C•• 2••••• →
  2. 2 below 80¢
    $23.8M principal

    2 positions across 2 borrowers marked below 80¢ on cost, $23.8M principal.

    Q2 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 31 May 2026
  3. 97.5¢ → 96.2¢
    book mark on cost

    Marked its book down from 97.5¢ to 96.2¢ on the dollar in the quarter to May 31, 2026.

    Q2 2026 · The whole portfolio was marked down; net asset value follows.

    Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →
Every headline figure, and the identifiersCIK 1377936 · file 814-00732Show
Fair value
$3.4B
as of May 31, 2026
Principal held
$1.2B
debt pieces, the filer's figure
Cost
$3.5B
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
205
109 borrowers
First lien
23%
31% debt by fair value
Quarters on the tape
8
since Feb 29, 2024
Facilities held
180
4 sponsors financed
Portfolio through time
Fair value by quarter end$3.4B as of May 31, 2026
Feb 29, 2024$8.0B then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
May 31, 2026$3.4B10996c5609 bp
Feb 28, 2026$5.5B10997c6608 bp
Nov 30, 2025$3.0B9997c5616 bp
Aug 31, 2025$3.0B9496c5646 bp
All 8 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
May 31, 2025$3.9B8595c6680 bp
Feb 28, 2025$5.3B7996c11685 bp
Nov 30, 2024$3.8B7597c8713 bp
Feb 29, 2024$8.0B8894c18740 bp
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
Full timeline · 20 events
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at May 31, 2026
205 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
P••••• P•••••• I••• • S•••••••• F••• R••••••• • T•••• S•••••••• F••• R•••••••unstated lien unstatedNot disclosedNot disclosed
n/a
A•••••• W•• C••••
C••••••• Services
preferred equity equity$934,463Not disclosed
n/a
E••••• L•• • D••••• S••••••
S•••••••
equity equity$1.0MNot disclosed
n/a
S••••••••• L•• • H••• M••••••••• D••••••delayed draw term loan lien unstatedNot disclosedNot disclosedS+750 bpApr 7, 2030
P••••• P•••••• I••• • S•••••••• F••• R•••••••delayed draw term loan lien unstated$1.9MNot disclosed
n/a
PIK 4.42%
Dec 31, 2028
Page 3 of 3Previous
Registration
Fiscal year end
0228reported
Incorporated
MDreported
On the SEC BDC report
2012 to 2026reported
Filings listed
19reported10-Q and 10-K since 2022
Former names
GSC INVESTMENT CORP.; GSC Investment LLCreported
Latest schedule
0001213900-26-075931reported