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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, 2026
800 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
N•• B•••• L••equity equityNot disclosed$608,000
129c
N• H•••••• L••revolver lien unstated$707,000$607,000
88c
S+650 bp
P••••••• D••••• H••••••• L••term loan first lien$595,000$593,000
101c
S+830 bp
A••••• H••••• 2• L••equity equityNot disclosed$593,000
4942c
M• G•••• V••••••• C•••••••••equity equityNot disclosed$582,000
78c
W••••••• F••••• L••preferred equity equityNot disclosed$578,000
106c
PIK 20.00%
E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S•••term loan first lien$701,000$577,000
130c
S+600 bp
PIK 1.00%
U•••••• •••••••••term loan first lien$577,000$577,000
109c
S+470 bp
S••••• P••••••• H•••••••• L••preferred equity equityNot disclosed$540,000
142c
D••••••••• P•••••••• H••••••• L••equity equityNot disclosed$534,000
193c
S••••••••• G••••• I•••equity equityNot disclosed$531,000
193c
O••••• B•••• L••••••term loan first lien$533,000$528,000
100c
S+500 bp
V•••• B••••• L••equity equityNot disclosed$502,000
306c
S••••• M•••• 2• I•••revolver lien unstated$518,000$491,000
101c
S+475 bp
T•••• B•••• L••equity equityNot disclosed$484,000
133c
C• G•••• H•••••••• L••equity equityNot disclosed$475,000
295c
V•••• G••••• H•••••• L••notes lien unstated$481,000$471,000
98c
9.50%
S••••••• H••••••• B•••equity equityNot disclosed$469,000
84c
S••••••• H••••••• B••equity equityNot disclosed$469,000
R•••• B•••• L••equity equityNot disclosed$445,000
83c
P••••••••• L••equity equityNot disclosed$444,000
276c
D•••• I••••••••• H••••••• C••equity equityNot disclosed$441,000
127c
A•••• B•••• L••••••term loan first lien$440,000$440,000
108c
S+500 bp
S•••• B•••• B•••term loan first lien$443,000$416,000
94c
S+575 bp
K•••••• S••••• • S••••••• L••term loan first lien$423,000$415,000
100c
S+425 bp
B•••••• P•••• P•••••••• C•••••••••equity equityNot disclosed$413,000
91c
O•• B••••• I•••revolver lien unstated$421,000$409,000
100c
S+500 bp
G••••• P•••••• L•••term loan first lien$544,000$403,000
85c
S+564 bp
C•••••• P••••••••• L••equity equityNot disclosed$400,000
320c
E•••••• M•••• L••••••term loan first lien$394,000$390,000
99c
S+475 bp
E••••••• E•••••••• • E••••••••• C••equity equityNot disclosed$390,000
207c
A••• B•••• L••••••term loan unsecured or subordinated$392,000$385,000
100c
PIK 9.00%
S•••• B•••• B•••revolver lien unstated$445,000$376,000
85c
S+550 bp
B••••••• B••••• L••equity equityNot disclosed$371,000
119c
B••••••• S•••term loan first lien$369,000$369,000
98c
S+950 bp
PIK 11.60%
A••••• M••••term loan second lien$354,000$368,000
105c
15.50%
A•••••• A•••••••• C•••••••••equity equityNot disclosed$365,000
83c
T•• A••••••••• L••revolver lien unstated$372,000$364,000
101c
S+475 bp
I•• H•••• A••••••• L•••••revolver lien unstated$378,000$359,000
96c
S+600 bp
M•••••• S•••••••• P••••• H•••••••• I•••term loan second lien$4.4M$354,000
8c
S+700 bp
W•••••••• H•••••••• I•••revolver lien unstated$365,000$349,000
106c
S+500 bp
G••• L••equity equityNot disclosed$340,000
140c
O••••• B•••• L••••••term loan first lien$341,000$338,000
95c
S+500 bp
S•• I••••••••• L••equity equityNot disclosed$327,000
157c
P••••••••• S•••••••• H•••••••• L••equity equityNot disclosed$327,000
139c
X••••••• B•••• L••••••term loan first lien$322,000$322,000
106c
S+575 bp
P•••••• S•••••••• G•••• H•••••••• L••term loan first lien$994,000$322,000
32c
S+700 bp
E• S••• B••••term loan unsecured or subordinated$326,000$321,000
100c
S+800 bp
A••••• B••••• I•••equity equityNot disclosed$317,000
165c
A••••••••• L••revolver lien unstated$317,000$317,000
104c
S+450 bp
A••••••••• B••• C••• L••equity equityNot disclosed$295,000
126c
H••• S••••• B•••• I•••term loan first lien$301,000$289,000
100c
S+450 bp
P••••• H••••••• L••••••preferred equity equityNot disclosed$289,000
100c
PIK 10.00%
C••••••••• L••revolver lien unstated$293,000$288,000
102c
S+525 bp
E••••••• D•••••• T•••••• I••••••••• L•• H•••••• S•••term loan first lien$350,000$288,000
130c
S+643 bp
PIK 1.00%
C••• U••••••• G•••equity equityNot disclosed$285,000
64c
A•••••• A•••••••• C•••••••••revolver lien unstated$288,000$279,000
101c
S+475 bp
S••••• E••••• S••••••••• L••equity equityNot disclosed$275,000
96c
D•••• I••••••••• H••••••• C••revolver lien unstated$283,000$275,000
103c
S+450 bp
C••••••• O••••••••• P••••••• C••••term loan first lien$101,000$275,000
278c
S+700 bp
PIK 17.00%
S••• B••••• L•••equity equityNot disclosed$270,000
52c
H• A••••••• B•••• L••revolver lien unstated$280,000$270,000
99c
S+450 bp
M•• B••••• I•••term loan first lien$268,000$268,000
100c
S+500 bp
A•••••••• S••••••• C•••••• ••••• L••equity equityNot disclosed$267,000
95c
R•• S••• M••••• S•• L••term loan first lien$266,000$266,000
100c
S+1050 bp
PIK 9.50%
B••••• S••••• U••••••••• L••equity equityNot disclosed$261,000
91c
C••• B••••• L••equity equityNot disclosed$255,000
109c
C••• U••••••• G•••equity equityNot disclosed$241,000
118c
P••••••• D••••• H••••••• L••equity equityNot disclosed$237,000
80c
T••••••••• I•••term loan unsecured or subordinated$300,000$234,000
79c
PIK 14.00%
A•••••• H••••••• H• L••••••term loan unsecured or subordinated$234,000$234,000
102c
15.00%
F••••• 4• L••••••term loan first lien$243,000$233,000
104c
S+600 bp
O•• I••••••••• H•••••••• L••revolver lien unstated$365,000$229,000
66c
S+475 bp
I•• I••••••••• I•••revolver lien unstated$226,000$226,000
106c
S+650 bp
S••••• A••••• I•••revolver lien unstated$348,000$222,000
64c
S+225 bp
PIK 3.80%
E•• I•••••••••equity equityNot disclosed$218,000
94c
R••••••••• P••••• H•••••••• L••equity equityNot disclosed$214,000
106c
P••••• E••••••••• L•••••revolver lien unstated$206,000$206,000
104c
S+450 bp
L•• B•••••••• L••revolver lien unstated$214,000$204,000
100c
S+525 bp
M•••••••• B•••• L••••••equity equityNot disclosed$203,000
147c
D••• H••••••• C••••revolver lien unstated$200,000$200,000
103c
S+500 bp
E•• P•••• H••••• L••revolver lien unstated$949,000$199,000
21c
S+575 bp
PIK 9.60%
D••••••• I••••••••• L••preferred equity equityNot disclosed$198,000
103c
G••• L••revolver lien unstated$204,000$193,000
101c
S+525 bp
L••••••••• L••equity equityNot disclosed$189,000
222c
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$180,000
99c
4.70%
L•••••• G•••• H••••••• B•••• L••••••term loan first lien$177,000$175,000
97c
S+575 bp
C•••••• R••••••••• S••••••• L••revolver lien unstated$199,000$175,000
90c
S+600 bp
U••••••••• L••equity equityNot disclosed$171,000
66c
I•• H•••• A••••••• L•••••equity equityNot disclosed$167,000
58c
M••••••• A••••••••• I•••preferred equity equityNot disclosed$167,000
91c
O•• H••••••• P••••••••• L••equity equityNot disclosed$165,000
95c
C•••••• A•••• ••••••• P••••• B••••• L•••equity equityNot disclosed$158,000
B•• B••••• I•••revolver lien unstated$159,000$153,000
100c
S+500 bp
H••••••••• I•••equity equityNot disclosed$152,000
150c
C••••••• O••••••••• P••••••• C••••term loan first lien$2.1M$151,000
8c
S+700 bp
PIK 9.30%
W••••••• F••••• L••preferred equity equityNot disclosed$150,000
100c
PIK 20.00%
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