DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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BDC portfolio
M••• S••••• C•••••• C•••
BDCMAINCIK 1396440file 814-00746HOUSTON, TXinternally managed
Fair value
$3.3B
as of Jun 30, 2026
Principal held
$3.2B
debt pieces, the filer's figure
Cost
$3.4B
98c on cost
Unfunded
$395M
commitments not yet drawn
Positions
824
221 borrowers
First lien
n/a
91% debt by fair value
Quarters on the tape
19
since Dec 31, 2021
Facilities held
448
18 sponsors financed
Portfolio through time
Fair value by quarter end$3.3B as of Jun 30, 2026
Dec 31, 2021$8.1B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $3.3B | 221 | 96c | 89 | 658 bp |
| Mar 31, 2026 | $3.1B | 217 | 96c | 74 | 656 bp |
| Dec 31, 2025 | $6.5B | 230 | 116c | 79 | 654 bp |
| Sep 30, 2025 | $2.6B | 218 | 97c | 75 | 674 bp |
| Jun 30, 2025 | $2.8B | 218 | 96c | 70 | 683 bp |
| Mar 31, 2025 | $3.1B | 219 | 96c | 72 | 685 bp |
| Dec 31, 2024 | $14B | 238 | 142c | 135 | 705 bp |
| Sep 30, 2024 | $2.2B | 225 | 96c | 42 | 705 bp |
| Jun 30, 2024 | $2.0B | 222 | 97c | 42 | 697 bp |
| Mar 31, 2024 | $2.0B | 222 | 97c | 39 | 694 bp |
| Dec 31, 2023 | $7.6B | 234 | 291c | 33 | 696 bp |
| Sep 30, 2023 | $2.0B | 229 | 96c | 37 | 694 bp |
| Jun 30, 2023 | $1.9B | 225 | 95c | 33 | 681 bp |
| Mar 31, 2023 | $2.1B | 224 | 94c | 38 | 690 bp |
| Dec 31, 2022 | $4.7B | 228 | 185c | 29 | 665 bp |
| Sep 30, 2022 | $4.0B | 219 | 94c | 47 | 723 bp |
| Jun 30, 2022 | n/a | 95 | n/a | 0 | n/a |
| Mar 31, 2022 | n/a | 96 | n/a | 0 | n/a |
| Dec 31, 2021 | $8.1B | 212 | 139c | 63 | 688 bp |
Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Sponsors financed
- S•••••• C•••••• M••••••••• L•• carried4 borrowers $71.5M
- 2 borrowers $118M
- P••• R••• C•••••• L•• carried2 borrowers $92.6M
- S•••• C•••••• G••••• L•• carried2 borrowers $47.8M
- C•••••••• P••••••• carried2 borrowers $44.5M
- 1 borrower $94.1M
- W••• P•••• P••••••• carried1 borrower $38.6M
- J•• M••••••••• L••• inferred1 borrower $36.0M
- 1 borrower $29.1M
- L••• R•••• carried1 borrower $28.1M
- S•• P•••••••• L•• carried1 borrower $26.9M
- Y•••• P••••••• M••••••••• L••••• carried1 borrower $24.4M
- B••• W•••• E••••• L•• carried1 borrower $23.9M
- A•••••• E••••• P•••••••• L•• carried1 borrower $20.4M
- L•••••• G•••• • P•••••••• L••• carried1 borrower $20.3M
Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
What changed
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
Largest facilities held, with co-lenders
- A•••• S••••• L•• term loan2 BDCs hold it · matures Dec 31, 2030$118M 101c
- M•••••• C••••••• G••••• L•• term loan2 BDCs hold it · matures Oct 1, 2030 · E•••••• L••• C•••••• M••••••••• L•••$112M 101c
- B••••• P•••••• G••••• L•• term loan1 BDC hold it · matures Oct 31, 2027$101M 100c
- C••••••• F••• C••••••••• term loan2 BDCs hold it · matures Jun 27, 2029 · I••••••••• O••••••••• P•••••••• L••$94.1M 101c
- Z•• P•••••••• L•• term loan2 BDCs hold it · matures Jun 14, 2029$83.8M 101c
- H•••••• H•••••••• L•• term loan2 BDCs hold it · matures Jun 30, 2031$81.5M 100c
- G••••••••• H•••••••• L•• term loan2 BDCs hold it · matures Jan 1, 2028$76.6M 100c
- X•••• A••• I•• term loan3 BDCs hold it · matures Dec 20, 2028 · P••• R••• C•••••• L••$70.8M 101c
- S•••• C•••• T•••••••• H•••••••• L•• term loan2 BDCs hold it · matures Aug 8, 2029$62.0M 101c
- J•• E••••••••• • M••••••••• L•• term loan2 BDCs hold it · matures Jun 20, 2030$59.9M 28c
- U•• I••••••••• L•• term loan2 BDCs hold it · matures Jul 29, 2029$59.3M 101c
- T•••••• M•••••• H•••••••• L•• term loan1 BDC hold it · matures Oct 8, 2030$58.5M 101c
Schedule of investments at Jun 30, 2026
824 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| A••••••• N•••• L•• | term loan lien unstated | $8.7M | $8.7M 100c | S+850 bp PIK 12.34% | Mar 28, 2028 |
| C••••••••• S••••••• H••••••• L•• | preferred equity equity | n/a | $8.4M 51c | ||
| W••• • W•• S•••••• L•• | term loan lien unstated | $8.0M | $8.0M 100c | S+550 bp PIK 9.16% | Apr 30, 2028 |
| U•• A•••••••• L•• | equity equity | n/a | $7.9M 98c | ||
| PrimeFlight Aviation Services | Secured Debt 1 | term loan lien unstated | $7.8M | $7.8M 102c | S+550 bp | May 1, 2029 |
| V•••••• S•••••• | term loan lien unstated | $7.7M | $7.7M 101c | S+700 bp | Dec 22, 2028 |
| J•• E••••••••• • M••••••••• L•• | term loan lien unstated | $36.5M | $7.7M 21c | S+600 bp PIK 9.89% | Jun 20, 2030 |
| Z•• P•••••••• L•• | term loan lien unstated | $7.6M | $7.6M 102c | S+500 bp | Jun 14, 2029 |
| Z•• P•••••••• L•• | term loan lien unstated | $7.5M | $7.5M 102c | S+600 bp | Jun 14, 2029 |
| E•••••• T••••••••• A••••••••• Co, Inc. | term loan lien unstated | $9.5M | $7.5M 79c | S+625 bp PIK 5.25% | Dec 31, 2029 |
| C•••••• P••••••• I••••••••• L•• | term loan lien unstated | $7.4M | $7.4M 101c | S+675 bp | Feb 7, 2027 |
| W••••• S••••••• L•• | term loan lien unstated | $7.2M | $7.2M 101c | S+900 bp | Nov 19, 2027 |
| W••••• S••••••• L•• | term loan lien unstated | $7.2M | $7.2M 101c | S+700 bp | Nov 19, 2027 |
| A••••••• N•••• L•• | term loan lien unstated | $8.7M | $7.2M 83c | S+850 bp PIK 12.34% | Mar 28, 2028 |
| H••••• P••••••••• L•• | term loan lien unstated | $7.2M | $7.2M 101c | S+825 bp | Dec 31, 2027 |
| C••••••••• B•••• L•• | term loan lien unstated | $7.0M | $6.9M 100c | S+650 bp | Jun 28, 2029 |
| I•••••• A••••••••• M••••••••• L•• | term loan lien unstated | $7.3M | $6.9M 95c | S+950 bp PIK 1.50% | Apr 3, 2028 |
| A•• O••••••••• L•• | term loan lien unstated | $6.7M | $6.7M 100c | S+500 bp | Jan 18, 2028 |
| A•• O••••••••• L•• | term loan lien unstated | $6.7M | $6.7M 100c | S+700 bp | Jan 18, 2028 |
| R•• D•••••• L••. | term loan lien unstated | $6.6M | $6.6M 101c | S+550 bp | May 16, 2028 |
| I•• H••••••• G••••• L•• | term loan lien unstated | $6.5M | $6.5M 100c | S+700 bp | Jun 21, 2027 |
| N•••••• L•• | preferred equity equity | n/a | $6.5M 232c | ||
| Z•• P•••••••• L•• | term loan lien unstated | $6.5M | $6.5M 101c | S+600 bp | Jun 14, 2029 |
| T•• A•••••••• N••••••• L•• | preferred equity equity | n/a | $6.4M 100c | ||
| J•• E••••••••• • M••••••••• L•• | term loan lien unstated | $6.5M | $6.3M 96c | S+500 bp PIK 8.89% | Jun 20, 2030 |
| C••• T••••••••• | term loan lien unstated | $6.3M | $6.3M 102c | S+500 bp | Sep 23, 2031 |
| Bond Brand Loyalty ULC | Secured Debt 3 | term loan lien unstated | $6.2M | $6.2M 101c | S+475 bp | May 1, 2028 |
| Bond Brand Loyalty ULC | Secured Debt 4 | term loan lien unstated | $6.2M | $6.2M 101c | S+675 bp | May 1, 2028 |
| A••••••••• S•••••• K••• H•••••••• L•• | preferred equity equity | n/a | $6.0M 253c | ||
| R•••• C•• I••. | preferred equity equity | n/a | $6.0M 100c | ||
| M••••••••• H•••••••• L•• | preferred equity equity | n/a | $5.9M 100c | 8.00% PIK 8.00% | |
| C••••••• D••• S•••••• L•• | term loan lien unstated | $9.1M | $5.9M 65c | S+1025 bp PIK 14.05% | Aug 6, 2026 |
| I••••• F•••••••• L•• | equity equity | n/a | $5.7M 100c | ||
| G• H••• I••••••••• L•• | term loan lien unstated | $5.7M | $5.7M 100c | S+650 bp | Nov 30, 2026 |
| W••• • W•• S•••••• L•• | term loan lien unstated | $5.6M | $5.6M 100c | 12.00% PIK 12.00% | Jul 31, 2028 |
| C••••••• F••• C••••••••• | term loan lien unstated | $5.5M | $5.5M 102c | S+700 bp | Jun 27, 2029 |
| A••••••• H••••• S••••••• G••••• I••. | term loan lien unstated | $5.4M | $5.4M 100c | S+525 bp | Nov 19, 2028 |
| B••••••••• C•••••• F••• I••••••••• | equity equity | n/a | $5.1M 105c | ||
| I•• H••••••• G••••• L•• | term loan lien unstated | $4.9M | $4.9M 106c | S+700 bp | Jun 21, 2027 |
| I•• H••••••• G••••• L•• | term loan lien unstated | $4.9M | $4.9M 106c | S+700 bp | Jun 21, 2027 |
| W•••••••• B•••••• L•• | preferred equity equity | n/a | $4.8M 100c | 12.00% PIK 12.00% | |
| T•••• M•••• M•••• C•••. | term loan lien unstated | $4.8M | $4.8M 102c | S+650 bp | Mar 11, 2029 |
| I• P••••• C••••••••• | term loan lien unstated | $4.8M | $4.8M 101c | S+575 bp | Jul 30, 2028 |
| C•••••• P••••••• I••••••••• L•• | term loan lien unstated | $4.8M | $4.8M 100c | S+675 bp | Feb 7, 2027 |
| I••••• V••••••••• L•• | term loan lien unstated | $4.8M | $4.8M 101c | S+500 bp | Dec 1, 2028 |
| I••••• V••••••••• L•• | term loan lien unstated | $4.8M | $4.8M 101c | S+700 bp | Dec 1, 2028 |
| I••••• F•••••••• L•• | term loan lien unstated | $4.6M | $4.6M 100c | S+600 bp PIK 9.74% | Oct 30, 2028 |
| D•• I••••••••• L•• | term loan lien unstated | $4.6M | $4.6M 101c | 13.00% | Jun 18, 2029 |
| A••••••••• L•• | term loan lien unstated | $4.5M | $4.5M 100c | 15.00% PIK 15.00% | Nov 6, 2028 |
| T••••••• F••••••••• L•• | equity equity | n/a | $4.4M 220c | ||
| M•••••••• H••••••• L•• | term loan lien unstated | $4.2M | $4.4M 105c | 9.00% PIK 6.00% | May 30, 2029 |
| E•••• E••••• F••• I•••••••••. | equity equity | n/a | $4.3M 62c | ||
| T•••• M•••• M•••• C•••. | term loan lien unstated | $4.3M | $4.3M 102c | S+650 bp | Mar 11, 2029 |
| G••••••••• C•••. | term loan lien unstated | $4.2M | $4.1M 101c | S+750 bp | Oct 4, 2029 |
| M••• M•••• o• A••••••• L•• | term loan lien unstated | $4.6M | $4.1M 91c | S+725 bp | Nov 30, 2028 |
| M••• M•••• o• A••••••• L•• | term loan lien unstated | $4.6M | $4.1M 91c | S+525 bp | Nov 30, 2028 |
| V••••• C••• F••••••••• L•• | equity equity | n/a | $4.0M 388c | ||
| L••• T•••• L• | equity equity | n/a | $4.0M 100c | ||
| E•••••• T•••••••• I••••••••• L•• | equity equity | n/a | $4.0M 270c | ||
| F•••• K••• H•••••••• L•• | equity equity | n/a | $3.9M 100c | ||
| B•••• C••••••••• | term loan lien unstated | $3.9M | $3.9M 101c | S+675 bp | Feb 3, 2030 |
| B•••• C••••••••• | term loan lien unstated | $3.9M | $3.9M 101c | S+475 bp | Feb 3, 2030 |
| C•••••• P••••••• I••••••••• L•• | term loan lien unstated | $3.9M | $3.9M 102c | S+675 bp | Feb 7, 2027 |
| V•••••• S•••••• | term loan lien unstated | $3.9M | $3.9M 102c | S+700 bp | Dec 22, 2028 |
| O•••••• I••••••••• S•••••••• L•• | term loan lien unstated | $3.7M | $3.7M 101c | S+600 bp | Nov 16, 2027 |
| E•••• H•••••• L••. | term loan lien unstated | $3.7M | $3.7M 100c | S+700 bp | Dec 22, 2026 |
| C••• T••••••••• | equity equity | n/a | $3.6M 582c | ||
| L•••••• L•• | term loan lien unstated | $4.3M | $3.6M 85c | S+800 bp PIK 3.00% | Dec 31, 2029 |
| T•••• M•••• M•••• C•••. | term loan lien unstated | $3.6M | $3.6M 102c | S+650 bp | Mar 11, 2029 |
| U•• I••••••••• L•• | term loan lien unstated | $3.5M | $3.5M 102c | S+650 bp | Jul 29, 2029 |
| U••••••• T••••••••• I••. | term loan lien unstated | $4.0M | $3.4M 87c | S+775 bp PIK 1.75% | Apr 5, 2029 |
| G• H••• I••••••••• L•• | term loan lien unstated | $3.4M | $3.4M 100c | S+650 bp | Nov 30, 2026 |
| G••• P•••••• A••••••••• L•• | term loan lien unstated | $3.5M | $3.2M 91c | S+700 bp | Sep 30, 2028 |
| G•• R••••• T••••••••• L•• | term loan lien unstated | $3.1M | $3.1M 100c | S+600 bp | Oct 29, 2026 |
| O••• C••••••• I••. | term loan lien unstated | $3.1M | $3.1M 103c | S+750 bp PIK 0.50% | Jun 21, 2029 |
| T•• T••• T•••••• L•• | preferred equity equity | n/a | $3.1M 310c | ||
| A•••• S••••• L•• | equity equity | n/a | $3.0M 100c | ||
| E••• L• | term loan lien unstated | $3.0M | $3.0M 100c | S+600 bp | |
| M•••• F•••• F••• G••••• L•• | term loan lien unstated | $3.0M | $3.0M 98c | S+550 bp PIK 9.16% | Jan 28, 2031 |
| B••••••••• C•••••• F••• I••••••••• | equity equity | n/a | $3.0M 95c | ||
| M••••••••• A••••••••• L•• | preferred equity equity | n/a | $2.9M 142c | 12.00% PIK 12.00% | |
| R••• O•••• L•• | term loan lien unstated | $3.8M | $2.8M 76c | 10.00% PIK 10.00% | Aug 31, 2029 |
| R•• D•••••• L••. | term loan lien unstated | $2.8M | $2.8M 100c | S+550 bp | May 16, 2028 |
| I•••••• A••••••••• M••••••••• L•• | term loan lien unstated | $2.9M | $2.8M 95c | S+950 bp PIK 1.50% | Apr 3, 2028 |
| D•••••• C••••••••• L•• | term loan lien unstated | $2.8M | $2.8M 102c | S+800 bp PIK 11.74% | Dec 31, 2026 |
| R••• O•••• L•• | term loan lien unstated | $3.8M | $2.8M 73c | 10.00% PIK 10.00% | Aug 31, 2029 |
| B••••••••• C•••••• F••• I••••••••• | equity equity | n/a | $2.6M 53c | ||
| N•••••• L•• | term loan lien unstated | $2.6M | $2.6M 100c | S+650 bp | Jan 31, 2028 |
| D•••••• C••••••••• L•• | term loan lien unstated | $2.5M | $2.5M 109c | S+900 bp | Dec 31, 2026 |
| A••••• S••••••• L•• | equity equity | n/a | $2.5M 177c | ||
| I•• H••••••• G••••• L•• | term loan lien unstated | $2.4M | $2.4M 100c | S+700 bp | Jun 21, 2027 |
| I•••••••• S••••••• S••••••, L.L.C | term loan lien unstated | $2.6M | $2.3M 91c | S+1000 bp PIK 13.77% | Aug 7, 2023 |
| L•••• A••••••••• C••••••• L•• | term loan lien unstated | $3.0M | $2.3M 97c | Dec 31, 2028 | |
| PrimeFlight Aviation Services | Secured Debt 7 | term loan lien unstated | $2.1M | $2.1M 101c | S+475 bp | May 1, 2029 |
| S••• H•••••••• L•• | term loan lien unstated | $2.1M | $2.1M 102c | S+700 bp | Jul 2, 2029 |
| T••••••• R••••••• T••••• L•• | term loan lien unstated | $2.1M | $2.1M 100c | 9.00% | May 31, 2027 |
| H••••• P•••••• F••• I••••••••• | equity equity | n/a | $2.1M 124c | ||
| G•••••••• L••. | term loan lien unstated | $2.1M | $2.1M 102c | S+725 bp | Oct 14, 2027 |
| T••••••• R••••••• T••••• L•• | term loan lien unstated | $2.0M | $2.0M 100c | 9.00% | May 31, 2027 |
| PrimeFlight Aviation Services | Secured Debt 6 | term loan lien unstated | $2.0M | $2.0M 101c | S+525 bp | May 1, 2029 |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2012 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Latest schedule
- 0001396440-26-000094reported