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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 Dec 31, 2025
913 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
C•••• P••••• N•term loan first lien$666,000$666,000
103c
S+700 bp
B••••••• S•••term loan first lien$3.5M$655,000
20c
S+400 bp
PIK 6.00%
C•••••• P••••••••• L••term loan unsecured or subordinated$655,000$655,000
101c
11.00%
PIK 1.00%
S•• I••••••••• L••term loan first lien$639,000$639,000
101c
S+675 bp
G••••• A••••••• G•••• L••••••term loan first lien$632,000$632,000
94c
S+491 bp
A•••••• B•••• L••••••term loan first lien$629,000$618,000
110c
S+500 bp
A•••• I••••••••• L••revolver lien unstated$627,000$616,000
100c
S+475 bp
A••••• H••••• 2• L••equity equityNot disclosed$610,000
5083c
N•• B•••• L••equity equityNot disclosed$595,000
126c
S••••••••• G••••• I•••equity equityNot disclosed$594,000
216c
P••••••• D••••• H••••••• L••term loan first lien$595,000$592,000
101c
S+830 bp
E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S•••term loan first lien$714,000$581,000
131c
S+600 bp
PIK 1.00%
C•• O••• H••••••• L•• ••••••• M•••••••term loan first lien$661,000$568,000
86c
S+525 bp
PIK 0.30%
V•••• B••••• L••equity equityNot disclosed$566,000
345c
E• S••• B••••term loan first lien$576,000$561,000
108c
S+525 bp
W••••••• F••••• L••preferred equity equityNot disclosed$551,000
106c
PIK 20.00%
O••••• B•••• L••••••term loan first lien$533,000$529,000
100c
S+500 bp
T•••• B•••• L••equity equityNot disclosed$523,000
144c
E•• P•••• H••••• L••revolver lien unstated$771,000$513,000
68c
S+575 bp
G••• L••term loan first lien$507,000$501,000
100c
S+600 bp
C• G•••• H•••••••• L••equity equityNot disclosed$500,000
311c
S••••• P••••••• H•••••••• L••preferred equity equityNot disclosed$500,000
132c
V•••• G••••• H•••••• L••notes lien unstated$488,000$482,000
99c
9.50%
U•••••• •••••••••term loan first lien$472,000$471,000
113c
S+470 bp
D••••••••• P•••••••• H••••••• L••equity equityNot disclosed$456,000
165c
A•••• B•••• L••••••term loan first lien$449,000$449,000
110c
S+500 bp
G••••• P•••••• L•••term loan first lien$555,000$447,000
96c
S+600 bp
S••••••• H••••••• B•••equity equityNot disclosed$436,000
78c
S••••••• H••••••• B••equity equityNot disclosed$436,000
P••••••••• L••equity equityNot disclosed$423,000
263c
N• H•••••• L••revolver lien unstated$475,000$422,000
92c
S+650 bp
C••• U••••••• G•••equity equityNot disclosed$420,000
94c
K•••••• S••••• • S••••••• L••term loan first lien$424,000$415,000
100c
S+425 bp
D•••• I••••••••• H••••••• C••equity equityNot disclosed$409,000
118c
S•••• B•••• B•••term loan first lien$443,000$408,000
92c
S+575 bp
C•••••• P••••••••• L••equity equityNot disclosed$383,000
306c
A•••••••• S••••••• C•••••• ••••• L••equity equityNot disclosed$379,000
135c
S•• I••••••••• L••equity equityNot disclosed$378,000
182c
R•••• B•••• L••equity equityNot disclosed$377,000
71c
B••••••• S•••term loan first lien$376,000$376,000
100c
S+950 bp
PIK 11.50%
A••• B•••• L••••••term loan unsecured or subordinated$388,000$371,000
99c
PIK 9.00%
P•••••• S•••••••• G•••• H•••••••• L••term loan first lien$994,000$364,000
37c
S+700 bp
PIK 11.40%
S•••• B•••• B•••revolver lien unstated$453,000$364,000
82c
S+550 bp
B••••• S••••• U••••••••• L••equity equityNot disclosed$361,000
126c
A••••• M••••term loan second lien$361,000$361,000
103c
15.50%
I•• H•••• A••••••• L•••••revolver lien unstated$378,000$356,000
96c
S+600 bp
G••• L••equity equityNot disclosed$355,000
146c
E••••••• E•••••••• • E••••••••• C••equity equityNot disclosed$354,000
188c
E••• G••••• L••••••••• I•••equity equityNot disclosed$351,000
66c
O••••• B•••• L••••••term loan first lien$348,000$345,000
97c
S+500 bp
D•••• I••••••••• H••••••• C••revolver lien unstated$343,000$339,000
104c
S+450 bp
B•••••• P•••• P•••••••• C•••••••••equity equityNot disclosed$334,000
73c
X••••••• B•••• L••••••term loan first lien$329,000$329,000
108c
S+550 bp
P•••••• B•••• B•••term loan first lien$320,000$320,000
108c
S+650 bp
E••••••• E•••••••• • E••••••••• C••term loan first lien$318,000$318,000
102c
13.50%
P••••• E••••••••• L•••••revolver lien unstated$316,000$316,000
103c
S+450 bp
B••••••• B••••• L••equity equityNot disclosed$312,000
100c
S••••• E••••• S••••••••• L••equity equityNot disclosed$309,000
110c
A••••• B••••• I•••equity equityNot disclosed$304,000
158c
S••••• A••••• I•••revolver lien unstated$345,000$294,000
86c
S+225 bp
PIK 3.80%
C••••••••• L••revolver lien unstated$293,000$293,000
104c
S+500 bp
E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S•••term loan first lien$350,000$284,000
129c
S+600 bp
PIK 1.00%
A••••••••• B••• C••• L••equity equityNot disclosed$279,000
119c
A•••••• A•••••••• C•••••••••revolver lien unstated$288,000$270,000
98c
S+475 bp
S••• B••••• L•••equity equityNot disclosed$269,000
52c
T••••••••• I•••term loan unsecured or subordinated$297,000$269,000
91c
10.00%
PIK 4.00%
C••••••• O••••••••• P••••••• C••••term loan first lien$98,000$268,000
279c
S+700 bp
PIK 15.00%
M•• B••••• I•••term loan first lien$268,000$268,000
100c
S+500 bp
C••• B••••• L••equity equityNot disclosed$262,000
112c
R•• S••• M••••• S•• L••term loan first lien$258,000$258,000
100c
S+1050 bp
P••••••••• S•••••••• H•••••••• L••equity equityNot disclosed$249,000
106c
F••••• 4• L••••••term loan first lien$247,000$247,000
111c
S+650 bp
C••• U••••••• G•••equity equityNot disclosed$243,000
119c
G••• I• G•••term loan first lien$509,000$239,000
50c
S+600 bp
PIK 10.00%
D••••••• I••••••••• L••preferred equity equityNot disclosed$235,000
122c
A•••••• H••••••• H• L••••••term loan unsecured or subordinated$234,000$234,000
102c
15.00%
P••••••• D••••• H••••••• L••equity equityNot disclosed$227,000
76c
I•• I••••••••• I•••revolver lien unstated$226,000$226,000
107c
S+650 bp
N• H•••••• L••equity equityNot disclosed$224,000
34c
E•• I•••••••••equity equityNot disclosed$217,000
94c
L••••••••• L••equity equityNot disclosed$216,000
254c
U••••••••• L••equity equityNot disclosed$216,000
83c
T••• A•• D••••••••• L••equity equityNot disclosed$212,000
41c
M•••••••• B•••• L••••••equity equityNot disclosed$202,000
146c
T•• A••••••••• L••revolver lien unstated$199,000$190,000
102c
S+475 bp
H••• S••••• B•••• I•••term loan first lien$200,000$188,000
100c
S+450 bp
C•••••• A•••• ••••••• P••••• B••••• L•••equity equityNot disclosed$187,000
M•• B••••• I•••equity equityNot disclosed$186,000
242c
O•• H••••••• P••••••••• L••equity equityNot disclosed$182,000
105c
P•••••••• M•••••notes lien unstated$182,000$181,000
99c
5.90%
P•••••••• M•••••notes lien unstated$182,000$181,000
99c
5.40%
P•••••••• M•••••notes lien unstated$182,000$181,000
99c
8.50%
P•••••••• M•••••notes lien unstated$182,000$181,000
99c
4.70%
M•• B••••• L••revolver lien unstated$180,000$174,000
100c
S+475 bp
I•• H•••• A••••••• L•••••equity equityNot disclosed$174,000
60c
D••••••••• L••revolver lien unstated$296,000$168,000
57c
S+625 bp
M••••••••• H•••••• B•••term loan first lien$213,000$166,000
90c
S+625 bp
C••••••• O••••••••• P••••••• C••••term loan first lien$2.1M$161,000
9c
S+700 bp
PIK 10.30%
R••••••••• P••••• H•••••••• L••equity equityNot disclosed$160,000
79c
A••••••••• L••revolver lien unstated$159,000$159,000
108c
S+450 bp
Page 5 of 10PreviousNext
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