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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
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 Sep 30, 2025
828 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
T•••••••• B•••• L••••••term loan first lien$1.8M$1.8M
116c
S+525 bp
G•••••••• I• B•term loan first lien$1.8M$1.8M
112c
S+510 bp
A•••• B•••• L••••••term loan first lien$1.9M$1.8M
106c
S+400 bp
PIK 3.20%
M•••• R•••••••• I••• ••••••••term loan first lien$1.8M$1.8M
100c
S+450 bp
I••••••••• G•••• B•••term loan first lien$1.8M$1.7M
106c
S+625 bp
W•••• B•••• L••••••term loan first lien$1.7M$1.7M
101c
S+475 bp
H•••• S••••••• G•••• L••term loan first lien$1.7M$1.7M
102c
S+450 bp
F••••• 4• L••••••term loan first lien$1.7M$1.7M
104c
S+650 bp
U•• L•••••• H•••••• A•term loan first lien$1.7M$1.7M
114c
S+525 bp
Z•••• L•••• S••••term loan first lien$1.8M$1.7M
102c
S+525 bp
B••••• G••••term loan first lien$2.8M$1.7M
66c
S+450 bp
PIK 12.50%
B•••••term loan first lienNot disclosed$1.7MS+450 bp
PIK 12.50%
M••••• M•••• L••••••term loan first lien$1.8M$1.7M
97c
S+575 bp
P••••••••• L••term loan first lien$1.6M$1.6M
101c
S+575 bp
A••••• C••••••• B•••• P•• L••term loan first lien$1.6M$1.6M
95c
S+450 bp
P•••••• B•••• B•••term loan first lien$1.6M$1.6M
100c
S+600 bp
S••••• A••••• I•••term loan first lien$1.8M$1.6M
88c
S+225 bp
PIK 3.80%
C•••••• B••••••••• I•••• R•••••• R•••••unstated lien unstatedNot disclosed$1.6M
120c
A••• I•••••••••term loan first lien$1.6M$1.6M
102c
S+625 bp
M•• E•••••• I•••term loan first lien$1.6M$1.5M
101c
S+450 bp
G• E•••• B••••• I•••equity equityNot disclosed$1.5M
220c
H• A••••••• B•••• L••term loan first lien$1.5M$1.5M
100c
S+450 bp
C•• F•••• H••••••• C••• L••equity equityNot disclosed$1.4M
M• P••••••••• L••term loan first lien$1.4M$1.4M
101c
S+475 bp
E••••• S••••••• B•••• P•• L••term loan first lien$1.6M$1.4M
78c
S+650 bp
W••••••• F••••• L••equity equityNot disclosed$1.4M
85c
P••• S•• ••• M•••••• M•••••term loan first lien$1.4M$1.4M
100c
S+525 bp
P•• I••••••••• 4• L••term loan first lien$1.4M$1.4M
100c
S+575 bp
D••••• B••••• L••term loan first lien$1.4M$1.4M
100c
S+475 bp
C••••••••• B••••• L••term loan first lien$1.4M$1.4M
100c
S+800 bp
PIK 12.30%
R••• L•••• L••equity equityNot disclosed$1.4M
109c
B••••••••• L••equity equityNot disclosed$1.3M
119c
C••••• S••• R•••• S••term loan first lien$1.3M$1.3M
100c
S+625 bp
J••• B•••• L•••••• •••••••term loan first lien$1.3M$1.3M
109c
S+525 bp
X••••••• B•••• L••••••equity equityNot disclosed$1.2M
218c
A••••••••• B••• C••• L••term loan first lien$1.2M$1.2M
100c
S+500 bp
R••••• H••••••• L••equity equityNot disclosed$1.2M
M•• A••••••••• G•••• G•••term loan first lien$1.2M$1.2M
103c
7.00%
I•••••• G•••• I• B•term loan first lien$1.2M$1.2M
113c
S+475 bp
R••••• H•••••••• I•••revolver lien unstated$1.1M$1.1M
103c
S+500 bp
B•• B••••• I•••equity equityNot disclosed$1.1M
111c
W•••••••• H•••••••• I•••equity equityNot disclosed$1.1M
175c
R•• S••• M••••• S•• L••term loan first lien$1.1M$1.1M
102c
S+1000 bp
PIK 14.20%
O•••• I••••••••• N•••• B•••term loan first lien$1.1M$1.1M
110c
S+525 bp
E••••• I•••••••• G•••• I•••term loan first lien$1.1M$1.1M
100c
S+425 bp
D••••••••• L••term loan first lien$1.5M$1.1M
71c
S+625 bp
PIK 0.30%
A••••• M••••warrants equityNot disclosed$1.1M
26625c
U•••• B•••• L••••••term loan first lien$1.1M$1.0M
110c
S+430 bp
S••••••• B•term loan first lien$1.0M$1.0M
105c
S+500 bp
S••• S••••• B•••• 3• L••••••term loan first lien$1.0M$1.0M
109c
S+645 bp
T• K•• A••••••••• L•••term loan first lien$1.0M$1.0M
100c
S+450 bp
A••••••••• H•••••• G•••term loan first lien$1.0M$1.0M
99c
S+508 bp
D••••••••• B•••term loan first lien$1.0M$1.0M
101c
S+525 bp
M•• E•••••• I•••revolver lien unstated$1.0M$990,000
100c
S+375 bp
I•• I••••••••• I•••equity equityNot disclosed$984,000
131c
W•••••••• H•••••••• I•••revolver lien unstated$993,000$975,000
103c
S+500 bp
P•• I••••••••• 4• L••term loan first lien$960,000$949,000
111c
S+575 bp
P••••• E••••••••• L•••••term loan first lien$948,000$948,000
101c
S+475 bp
E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S•••term loan first lien$2.8M$938,000
39c
S+700 bp
PIK 12.40%
I••••• S••••••• I••term loan first lien$913,000$937,000
108c
S+575 bp
K••••••• B•••• B•••term loan first lien$932,000$918,000
107c
S+525 bp
P•••••• I••••••• A••••••••• I•••revolver lien unstated$1.0M$915,000
92c
S+625 bp
A•••• B•••• L••••••term loan second lien$1.0M$914,000
100c
PIK 10.50%
Z• H••••• L••revolver lien unstated$929,000$907,000
100c
S+575 bp
E• S••• B••••term loan first lien$913,000$907,000
99c
S+500 bp
S•••• S•••••• B•••••• L••equity equityNot disclosed$895,000
55c
R• O•••••••• L••revolver lien unstated$1.4M$894,000
63c
S+675 bp
PIK 11.30%
M•••••• S•••••••• P••••• H•••••••• I•••term loan second lien$4.4M$892,000
20c
S+700 bp
D•••• W••• B••••• U• L••term loan first lien$926,000$871,000
106c
S+1000 bp
G• E•••• B••••• I•••revolver lien unstated$868,000$868,000
104c
S+450 bp
C• B••••• L••term loan first lien$875,000$861,000
100c
S+625 bp
A••• I•••••••••term loan first lien$902,000$860,000
94c
S+625 bp
C•• F•••• H••••••• C••• L••term loan first lien$856,000$856,000
100c
S+700 bp
A•• C••••••••• L••equity equityNot disclosed$848,000
157c
C•••••••• F•••• S•••••••term loan first lien$833,000$833,000
109c
S+525 bp
J•••• F••• H••••••••• • D••••••••• L••equity equityNot disclosed$827,000
773c
E•• I••••••••• S•••••term loan unsecured or subordinated$821,000$818,000
102c
11.00%
PIK 2.50%
S••• B••••• L•••revolver lien unstated$864,000$816,000
97c
S+625 bp
T••••••••• S•••••• S••••• B•••• P•• L••term loan first lien$828,000$812,000
100c
S+525 bp
D••••••••• P•••••••• H••••••• L••term loan second lien$815,000$802,000
100c
11.00%
PIK 1.50%
I•• I••••••••• I•••term loan first lien$795,000$795,000
101c
S+600 bp
U•• L•••••• H•••••• A•term loan first lien$770,000$770,000
109c
S+525 bp
F••• S••• H•••••• L••equity equityNot disclosed$755,000
78c
T••• A•• D••••••••• L••term loan unsecured or subordinated$752,000$741,000
100c
14.00%
F••••••••• L••equity equityNot disclosed$735,000
78c
K•• D••••• H•••••••• L••equity equityNot disclosed$721,000
113c
R••••• H•••••••• I•••equity equityNot disclosed$704,000
132c
H••••••••• B•••• P•• L••term loan first lien$806,000$700,000
91c
S+525 bp
E• S••• B••••term loan first lien$683,000$674,000
107c
S+500 bp
PIK 8.00%
O•• H••••••• P••••••••• L••revolver lien unstated$687,000$671,000
101c
S+500 bp
A•• W•••••••• L•••••••• H•••••••• I•••equity equityNot disclosed$665,000
191c
C•• F•••• H••••••• C••• L••• S••••• O••term loan first lien$661,000$661,000
100c
S+900 bp
PIK 13.50%
C•••••• P••••••••• L••term loan unsecured or subordinated$653,000$653,000
100c
11.00%
PIK 1.00%
B••••••••• L••revolver lien unstated$642,000$642,000
101c
S+550 bp
S•• I••••••••• L••term loan first lien$641,000$641,000
102c
S+675 bp
E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S•••term loan first lien$1.9M$617,000
39c
S+700 bp
PIK 9.40%
N•• B•••• L••equity equityNot disclosed$614,000
130c
N• H•••••• L••revolver lien unstated$641,000$610,000
98c
S+650 bp
L•••••• G•••• H••••••• B•••• L••••••term loan first lien$610,000$608,000
101c
S+575 bp
A•••••• A•••••••• C•••••••••revolver lien unstated$634,000$606,000
98c
S+575 bp
Page 4 of 9PreviousNext
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