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B•••••• B••• I•••

Business development companymanaged by B•••••• L••Listed: BBDC· CHARLOTTE, NC

A business development company traded as BBDC, managed by B•••••• L••, holding $2.5B across 347 borrowers at Jun 30, 2026.

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

Fair value
$2.5B
Schedule of investments, 10-Q and 10-K
Borrowers
347
Schedule of investments, 10-Q and 10-K
Mark on cost
97.1¢
Schedule of investments, 10-Q and 10-K
First lien
68%
Schedule of investments, 10-Q and 10-K
Schedule of investments (855)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $46.1M
    on non-accrual, 11 borrowers

    11 borrowers on non-accrual, $46.1M principal; the largest is R• O••••••• L•• ($17.3M).

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

    FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen R• O••••••• L•• →
  2. $3M
    newly on non-accrual

    2 borrowers newly placed on non-accrual in Q2 2026, $3M principal: S••••• A••••• I•• ($2.18M), T••• A•• D••••••••• L•• ($812K).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open S••••• A••••• I•• →
  3. 25 below 80¢
    $77.3M principal

    25 positions across 20 borrowers marked below 80¢ on cost, $77.3M principal.

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

    Derivedeach position's fair value over cost, 30 Jun 2026
  4. 0 → 70
    loans paying in kind

    Loans paying in kind rose from 0 to 70 positions in the quarter to Jun 30, 2026.

    Q2 2026 · Borrowers paying interest in more debt rather than cash is an early sign of strain.

    Factthe schedule's PIK rates, quarter on quarterQuarter by quarter →
  5. 1 → 347
    borrowers

    Added a net 346 borrowers in the quarter to Jun 30, 2026, to 347.

    Q2 2026 · The book is turning over faster than usual.

    Factthe schedule's borrowers, quarter on quarterSchedule of investments →
Every headline figure, and the identifiersCIK 1379785 · file 814-00733Show
Fair value
$2.5B
as of Jun 30, 2026
Principal held
$2.1B
debt pieces, the filer's figure
Cost
$2.5B
97c on cost, debt pieces
Unfunded
$485M
commitments not yet drawn
Positions
855
347 borrowers
First lien
68%
81% debt by fair value
Quarters on the tape
19
since Dec 31, 2020
Facilities held
759
46 sponsors financed
Portfolio through time
Fair value by quarter end$2.5B as of Jun 30, 2026
Dec 31, 2020$104M then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$2.5B34797c70535 bp
May 27, 2026$5.0M1n/a0n/a
Mar 31, 2026$2.5B33597c78538 bp
Dec 31, 2025$2.7B38097c80543 bp
All 24 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Nov 25, 2025$10.0M1n/a0n/a
Sep 30, 2025$2.8B34597c87543 bp
Jun 30, 2025$2.9B33998c81548 bp
Mar 31, 2025$2.8B33296c80556 bp
Dec 31, 2024$5.7B39795c155567 bp
Sep 30, 2024$2.9B33897c81577 bp
Jun 30, 2024$2.9B33796c84582 bp
Mar 31, 2024$3.0B34097c78588 bp
Dec 31, 2023$3.7B37696c67592 bp
Sep 30, 2023$3.0B34096c65591 bp
Jun 30, 2023$3.0B33396c49588 bp
Mar 31, 2023$3.0B33494c51591 bp
Dec 31, 2022$2.9B36593c44586 bp
Sep 30, 2022$2.7B31693c47590 bp
Aug 12, 2022$45.4M1n/a0n/a
Dec 31, 2021$2.3B28799c28576 bp
Jul 8, 2021$306M1n/a0n/a
Feb 8, 2021Not disclosed3n/a0n/a
Dec 31, 2020$104M10n/a0725 bp
May 13, 2020Not disclosed1n/a0n/a
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 Mar 31, 2025
778 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
T••••••••• S•••••• S••••• B•••• P•• L••term loan first lien$703,000$674,000
93c
S+525 bp
R••••• H•••••••• I•••equity equityNot disclosed$671,000
126c
M•• B••••• I•••term loan first lien$660,000$660,000
101c
S+500 bp
C•••••• P••••••••• L••term loan unsecured or subordinated$650,000$644,000
100c
11.00%
PIK 1.00%
M•• E•••••• I•••revolver lien unstated$656,000$624,000
100c
S+475 bp
C•• F•••• H••••••• C••• L••• S••••• O••term loan first lien$618,000$618,000
100c
S+900 bp
PIK 13.60%
H••••••••• B•••• P•• L••term loan first lien$698,000$601,000
85c
S+525 bp
N•••• A••••••••• I•••preferred equity equityNot disclosed$589,000
128c
X••••••• B•••• L••••••equity equityNot disclosed$589,000
104c
P••••••• D••••• H••••••• L••term loan first lien$595,000$588,000
101c
S+830 bp
S•• I••••••••• L••term loan first lien$588,000$588,000
102c
S+675 bp
A•• W•••••••• L•••••••• H•••••••• I•••equity equityNot disclosed$587,000
168c
A•••••••• S••••••• C•••••• ••••• L••equity equityNot disclosed$581,000
208c
T••• A•• D••••••••• L••equity equityNot disclosed$573,000
110c
F••• S••• H•••••• L••equity equityNot disclosed$564,000
58c
U•• L•••••• H•••••• A•term loan first lien$559,000$559,000
101c
S+525 bp
O••••• H••••• L••term loan lien unstated$549,000$549,000
100c
10.00%
N•• B•••• L••equity equityNot disclosed$543,000
115c
R•••• B•••• L••equity equityNot disclosed$536,000
101c
C•• P•••••• L••revolver lien unstated$551,000$534,000
100c
S+450 bp
G••• L••term loan first lien$538,000$529,000
100c
S+600 bp
S••••• P••••••• H•••••••• L••preferred equity equityNot disclosed$527,000
139c
O••••• B•••• L••••••term loan first lien$533,000$524,000
100c
S+525 bp
S••••••••• G••••• I•••equity equityNot disclosed$519,000
189c
R•••••• I••••••••• U• I••••••••• H•••••• I•••term loan first lien$522,000$512,000
104c
S+500 bp
PIK 1.50%
P•••••• I••••••• A••••••••• I•••revolver lien unstated$531,000$509,000
99c
S+625 bp
V•••• G••••• H•••••• L••• S•••••••••equity equity$500,000$499,000
100c
9.50%
R••••• H••••••• L••equity equityNot disclosed$490,000
O•• H••••••• I• C•••revolver lien unstated$489,000$489,000
103c
S+500 bp
B•••••• A•••••• 2••••• C•••• B• P••• T•••••• T••••term loan first lien$462,000$481,000
104c
8.40%
A••• C•• 2•• L•••••• S••••• 2•••••••
S••••••••• finance (CLO)
notes unsecured or subordinated$7.2M$469,000
39c
P•••••• S•••••••• G•••• H•••••••• L••term loan first lien$993,000$460,000
46c
S+700 bp
PIK 11.60%
B•••••• P•••• P•••••••• C•••••••••equity equityNot disclosed$450,000
99c
S••••••• H••••••• B•••equity equityNot disclosed$449,000
80c
S••••••• H••••••• B••equity equityNot disclosed$449,000
N• H•••••• L••equity equityNot disclosed$448,000
68c
W••••••• F••••• L••preferred equity equityNot disclosed$448,000
100c
PIK 20.00%
S•••• B•••• B•••term loan first lien$443,000$442,000
100c
S+575 bp
E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S•••term loan first lien$913,000$437,000
56c
S+700 bp
PIK 12.40%
O•• H••••••• P••••••••• L••revolver lien unstated$444,000$432,000
101c
S+500 bp
C• G•••• H•••••••• L••equity equityNot disclosed$427,000
265c
J•••• F••• H••••••••• • D••••••••• L••equity equityNot disclosed$421,000
393c
C••• U••••••• G•••equity equityNot disclosed$412,000
92c
A•••• B•••• L••••••term loan first lien$413,000$412,000
101c
S+575 bp
B•••••••• L••••••term loan first lien$413,000$407,000
104c
S+500 bp
P••••• S••••••• C••••••• L••warrants equityNot disclosed$406,000
S••• B••••• L•••equity equityNot disclosed$398,000
77c
D••••••••• P•••••••• H••••••• L••equity equityNot disclosed$381,000
138c
E••• G••••• L••••••••• I•••equity equityNot disclosed$375,000
71c
E•• P•••• H••••• L••revolver lien unstated$534,000$353,000
70c
S+575 bp
D•••• I••••••••• H••••••• C••equity equityNot disclosed$347,000
100c
A•••••• I•••••••••term loan unsecured or subordinated$345,000$345,000
101c
S+1050 bp
PIK 14.40%
P••••••••• S•••••••• H•••••••• L••revolver lien unstated$353,000$327,000
101c
S+450 bp
P••••••••• L••equity equityNot disclosed$317,000
197c
E•• I•••••••••equity equityNot disclosed$317,000
137c
O••••• B•••• L••••••term loan first lien$320,000$314,000
88c
S+525 bp
G••• L••equity equityNot disclosed$314,000
129c
I•• H•••• A••••••• L•••••revolver lien unstated$320,000$313,000
100c
S+550 bp
A••••• M••••term loan second lien$299,000$311,000
103c
PIK 17.50%
A••• B•••• L••••••term loan unsecured or subordinated$340,000$310,000
91c
PIK 8.00%
E••••••• E•••••••• • E••••••••• C••term loan first lien$316,000$310,000
100c
10.50%
PIK 3.00%
V•••• B••••• L••equity equityNot disclosed$309,000
188c
C••••••• O••••••••• P••••••• C••••term loan first lien$1.6M$302,000
16c
S+700 bp
PIK 10.30%
A••••• B••••• I•••equity equityNot disclosed$302,000
157c
C•••••• R••••••••• S••••••• L••revolver lien unstated$314,000$298,000
97c
S+600 bp
X••••••• B•••• L••••••term loan first lien$302,000$298,000
98c
S+550 bp
G••• I• G•••term loan first lien$294,000$294,000
99c
S+600 bp
PIK 10.00%
S••••• A••••• I•••revolver lien unstated$336,000$291,000
88c
S+550 bp
S•• I••••••••• L••equity equityNot disclosed$283,000
136c
I•• H•••• A••••••• L•••••equity equityNot disclosed$281,000
97c
N• H•••••• L••revolver lien unstated$276,000$276,000
109c
S+650 bp
G• E•••• B••••• I•••revolver lien unstated$289,000$276,000
112c
S+475 bp
S••••• E••••• S••••••••• L••equity equityNot disclosed$274,000
100c
A•••••• B•••• L••••••term loan first lien$296,000$270,000
103c
S+500 bp
T••••••••• I•••term loan unsecured or subordinated$288,000$266,000
93c
10.00%
PIK 4.00%
T•••• B•••• L••equity equityNot disclosed$261,000
104c
C•••••• P••••••••• L••equity equityNot disclosed$257,000
206c
C••••••• O••••••••• P••••••• C••••• S••••term loan first lien$80,000$256,000
324c
S+700 bp
PIK 15.00%
J•••• F••• H••••••••• • D••••••••• L••revolver lien unstated$251,000$251,000
102c
S+550 bp
P••••••••• L••revolver lien unstated$242,000$242,000
102c
S+575 bp
C••• B••••• L••equity equityNot disclosed$238,000
102c
P••••••••• S•••••••• H•••••••• L••equity equityNot disclosed$233,000
99c
F••••• 4• L••••••term loan first lien$227,000$226,000
101c
S+650 bp
I•• I••••••••• I•••revolver lien unstated$226,000$226,000
110c
S+600 bp
Z• H••••• L••equity equityNot disclosed$222,000
145c
C••• U••••••• G•••equity equityNot disclosed$217,000
106c
P••••••• D••••• H••••••• L••equity equityNot disclosed$213,000
71c
L••••••••• L••equity equityNot disclosed$210,000
247c
M•••••••• B•••• L••••••equity equityNot disclosed$198,000
143c
P•••••• I••••••• A••••••••• I•••equity equityNot disclosed$198,000
70c
O•• H••••••• P••••••••• L••equity equityNot disclosed$195,000
112c
E••••••• E•••••••• • E••••••••• C••equity equityNot disclosed$195,000
104c
M••••••••• H•••••• B•••• S••••term loan first lien$193,000$193,000
99c
S+650 bp
PIK 6.00%
D••••••••• L••revolver lien unstated$254,000$191,000
76c
S+650 bp
P•••••••• M•••••notes lien unstated$182,000$181,000
99c
8.50%
I••••••• I••••••••• L••term loan first lien$934,000$181,000
26c
S+660 bp
P•••••••• M•••••notes lien unstated$182,000$180,000
99c
5.90%
Q•••••••• I••••••••• L••preferred equity equityNot disclosed$180,000
125c
P•••••••• M•••••notes lien unstated$182,000$180,000
99c
5.40%
P•••••••• M•••••notes lien unstated$182,000$179,000
98c
4.70%
Page 5 of 8PreviousNext
Registration
Fiscal year end
1231reported
Incorporated
NCreported
On the SEC BDC report
2012 to 2026reported
Filings listed
19reported10-Q and 10-K since 2022
Former names
Triangle Capital CORPreported
Latest schedule
0001379785-26-000030reported