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F• K•• C•••••• C•••
A business development company traded as FSK, managed by F••••• A••••••• L••, holding $13B across 224 borrowers at Jun 30, 2026.
Composed from this BDC's filings and its latest schedule of investments.
As of · the latest schedule of investments read for this BDC
- Fair value
- $13B
- Borrowers
- 224
- Mark on cost
- 91.0¢
- First lien
- 37%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
What matters now
- $1.44Bon non-accrual, 14 borrowers
14 borrowers on non-accrual, $1.44B principal; the largest is K••••••••• B••••••••• S••••••• L•• ($338M).
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 K••••••••• B••••••••• S••••••• L•• → - $114Mnewly on non-accrual
2 borrowers newly placed on non-accrual in Q2 2026, $114M principal: H••••• T••••••••• S•••••• L•• ($102M), A••••••• S•••••••• G•••• L•• ($11.8M).
Q2 2026 · The newest credit problems in the book.
- 19 below 80¢$1.45B principal
19 positions across 16 borrowers marked below 80¢ on cost, $1.45B principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 92.5¢ → 91.0¢book mark on cost
Marked its book down from 92.5¢ to 91.0¢ on the dollar in the quarter to Jun 30, 2026.
Q2 2026 · The whole portfolio was marked down; net asset value follows.
Every headline figure, and the identifiersCIK 1422183 · file 814-00757ShowHide
Fair value
$13B
as of Jun 30, 2026
Principal held
$12B
debt pieces, the filer's figure
Cost
$14B
91c on cost, debt pieces
Unfunded
$1.1B
commitments not yet drawn
Positions
942
224 borrowers
First lien
37%
83% debt by fair value
Quarters on the tape
18
since Dec 31, 2020
Facilities held
336
44 sponsors financed
Portfolio through time
Fair value by quarter end$17B as of Jun 30, 2026
Dec 31, 2020$1.9B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $17B | 224 | 91c | 21 | 547 bp |
| Mar 31, 2026 | $18B | 227 | 93c | 21 | 558 bp |
| Dec 31, 2025 | $21B | 228 | 95c | 28 | 569 bp |
| Sep 30, 2025 | $20B | 223 | 96c | 28 | 571 bp |
All 18 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $20B | 217 | 96c | 30 | 585 bp |
| Mar 31, 2025 | $21B | 224 | 98c | 27 | 609 bp |
| Dec 31, 2024 | $37B | 220 | 97c | 120 | 564 bp |
| Sep 30, 2024 | $20B | 219 | 97c | 36 | 568 bp |
| Jun 30, 2024 | $20B | 208 | 96c | 38 | 588 bp |
| Mar 31, 2024 | $20B | 205 | 97c | 51 | 601 bp |
| Dec 31, 2023 | $48B | 212 | 95c | 106 | 625 bp |
| Sep 30, 2023 | $19B | 204 | 96c | 63 | 615 bp |
| Jun 30, 2023 | $19B | 198 | 95c | 58 | 620 bp |
| Mar 31, 2023 | $20B | 192 | 95c | 52 | 613 bp |
| Dec 31, 2022 | $39B | 212 | 95c | 102 | 620 bp |
| Sep 30, 2022 | $17B | 200 | 96c | 49 | 625 bp |
| Dec 31, 2021 | $28B | 202 | 100c | 79 | 632 bp |
| Dec 31, 2020 | $1.9B | 40 | n/a | 3 | n/a |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- Placed on non-accrualJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
Full timeline · 20 eventsShow fewer
- Placed on non-accrualJun 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
- 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
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Spread increasedJun 30, 2026
Largest facilities held, with co-lenders
- C••••• O••••••••• P••••••• J•• L•• other1 BDC hold it$2.0B 166c
- K••••••••• B••••••••• S••••••• L•• first lien term loan3 BDCs hold it · matures Nov 6, 2028$338M 74c
- P••••••••• R••••••• G•••• L•• first lien term loan2 BDCs hold it · matures Oct 1, 2030$319M 104c
- P•••••• C••• second lien term loan7 BDCs hold it · matures Feb 1, 2029$297M 70c
- S••••• L•• second lien term loan1 BDC hold it · matures Jun 1, 2029$280M 79c
- G••••• U•••••••• L•• first lien term loan1 BDC hold it · matures May 1, 2028 · possible sponsor G••••••• C•••••• P••••••• L•$241M 98c
- M•••••••• I•• first lien term loan5 BDCs hold it · matures Oct 29, 2028$234M 50c
- N••••• C•••••• G•••• H•••••• A• other1 BDC hold it · matures Jun 1, 2031$232M 111c
- A•••••• S•••••• A• first lien term loan1 BDC hold it · matures Jun 1, 2031$218M 96c
- T••••• L•• first lien term loan1 BDC hold it · matures Jun 1, 2028$192M 80c
- A•• N••••••• C••• other1 BDC hold it · matures Sep 1, 2028$184M 127c
- M•• D••••• S••••••••• L•• first lien term loan3 BDCs hold it · matures Feb 13, 2031$167M 100c
Schedule of investments at Jun 30, 2024
739 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| C•••••••• T••••••••• L•• Capital G•••• | term loan first lien | $21.7M | $21.7M 100c | S+575 bp | Feb 13, 2031 |
| A•••••••• M••••••• | equity equity | Not disclosed | $21.6M | ||
| A•••••••• M••••••• | equity equity | Not disclosed | $21.6M 93c | ||
| D•••••••• L•• H••••• C••• E•••••••• & S••••••s | unstated lien unstated | $21.6M | $21.5M 100c | S+525 bp | Aug 5, 2028 |
| V•••••• S•••••• F•••••• T••••• A•• E••••• Financial S••••••s | unstated lien unstated | Not disclosed | $21.3M 101c | ||
| T••••••••• S•• S••••••• & S••••••s | unstated lien unstated | $19.8M | $21.2M 112c | S+625 bp | Feb 15, 2028 |
| C•••••••• T••••••••• L•• Capital G•••• | term loan first lien | $21.0M | $20.9M 100c | S+575 bp | Feb 13, 2030 |
| A••• S•••••• P••••••• L•• C••••••••• & P••••••••• S••••••s | unstated lien unstated | $21.1M | $20.7M 100c | PIK 14.30% | Apr 23, 2031 |
| I••••••••• I•• S••••••• & S••••••s | unstated lien unstated | $20.2M | $20.3M 100c | S+525 bp | May 25, 2028 |
| W••••• R•••••••• I•• E••••• | term loan first lien | $24.3M | $20.2M 83c | 4.00% | Dec 1, 2026 |
| A•• N••••••• C••• Capital G•••• | unstated lien unstated | $40.9M | $20.1M 94c | PIK 10.00% | Sep 1, 2028 |
| A•• N••••••• C••• | unstated lien unstated | Not disclosed | $20.1M | ||
| C•••••• G•••• •••••• N•• G••••• C••••••• S••••••s | unstated lien unstated | $19.7M | $19.9M 101c | S+350 bp PIK 2.00% | Dec 21, 2028 |
| B•• G•••• L•• M•••• & E••••••••• | term loan first lien | $19.9M | $19.9M 100c | S+575 bp | Aug 16, 2027 |
| C•••• G••••• T••••••••• | term loan first lien | $15.5M | $19.8M 100c | S+575 bp | Dec 14, 2028 |
| C••• T• L••••• L• C••••••• S••••••s | term loan first lien | $18.7M | $19.2M 103c | 10.80% PIK 1.00% | Jun 30, 2026 |
| O•• C••• C••• M••••••••• I•• | preferred equity equity | Not disclosed | $18.9M | ||
| O•• C••• C••• M••••••••• I•• | preferred equity equity | Not disclosed | $18.9M 83c | ||
| A•••••••• M••••••• I• | equity equity | Not disclosed | $18.8M | ||
| A•••••••• M••••••• I•• A•• E••••• T••••••••• | unstated lien unstated | Not disclosed | $18.8M 109c | ||
| G••••• U•••••••• L•• C••••••• D••••••• & A•••••• | term loan first lien | $18.6M | $18.5M 100c | S+550 bp | Nov 30, 2026 |
| G••••• U•••••••• L•• | unstated lien unstated | Not disclosed | $18.5M | ||
| I•••••••• C•••••• E••••••• S•• P•••••••••, B••••••••• & L••• S••••••• | term loan first lien | $17.6M | $18.0M 87c | S+725 bp | Sep 27, 2026 |
| N••••• C•••••• G•••• H•••••• A• C••••••••• & P••••••••• S••••••s | unstated lien unstated | $185M | $17.0M 97c | S+575 bp | Jun 10, 2031 |
| P••••••••• I•• H••••• C••• E•••••••• & S••••••s | term loan first lien | $16.9M | $16.9M 100c | S+575 bp | Aug 23, 2028 |
| A••••••• C•••••• P••••••• I•• | preferred equity equity | Not disclosed | $16.9M 100c | 5.00% | Apr 30, 2030 |
| M• C•••••••• H•••• P••••• 2• A•• E••••• | equity equity | Not disclosed | $16.8M 83c | ||
| M• C•••••••• H•••• P••••• 2• | equity equity | Not disclosed | $16.8M | ||
| H• D••• C• I•• | preferred equity equity | Not disclosed | $16.6M | ||
| H• D••• C• I•• | preferred equity equity | Not disclosed | $16.6M 234c | ||
| G••••••• I•• S••••••• & S••••••s | unstated lien unstated | $16.2M | $16.3M 101c | S+350 bp PIK 2.30% | Jan 17, 2031 |
| H••••••••• I•••••••• A••••• I•• I•••••••• | term loan first lien | $16.2M | $16.2M 100c | S+475 bp | Nov 24, 2028 |
| C•••••••• S••••• G•••• A• Capital G•••• | unstated lien unstated | $16.3M | $16.0M 101c | S+600 bp | Apr 7, 2031 |
| S••••••• C••• o• A•••••• I•• C••••••••• & P••••••••• S••••••s | term loan first lien | $15.7M | $15.7M 104c | S+575 bp | Jun 30, 2027 |
| L•••••• R••••••• Q•••••• A•••••••• L•• C••••••• S••••••s | unstated lien unstated | $12.3M | $15.6M 98c | S+600 bp | Dec 2, 2028 |
| K•• C•••••• P••• L•••••• A••••••••• L••• | equity equity | Not disclosed | $15.5M | ||
| Z••• I••••••••• P••••••• I•• H••••• C••• E•••••••• & S••••••s | unstated lien unstated | $15.5M | $15.5M 100c | S+550 bp | Feb 28, 2031 |
| K•• C•••••• P••• L•••••• A••••••••• L••• | equity equity | $39.1M | $15.5M 40c | 14.30% | May 31, 2026 |
| D••••• P••••••••• L•• P•••••••••, B••••••••• & L••• S••••••• | unstated lien unstated | $15.2M | $15.3M 103c | S+625 bp | Jan 24, 2031 |
| C••••••••• H••••••• L•• Capital G•••• | unstated lien unstated | $15.1M | $15.1M 102c | S+775 bp | Sep 27, 2025 |
| C••••••••• H••••••• L•• | unstated lien unstated | Not disclosed | $15.1M | ||
| A•••••• S•••••• A• S••••••• & S••••••s | term loan first lien | $161M | $15.0M 101c | S+550 bp | May 30, 2031 |
| A••••• A• S••••••• & S••••••s | unstated lien unstated | $13.8M | $14.9M 100c | S+625 bp | Aug 19, 2030 |
| D••••• P••••••••• L•• P•••••••••, B••••••••• & L••• S••••••• | unstated lien unstated | $13.8M | $14.8M 104c | S+625 bp | Jan 24, 2031 |
| L••••• F•••• L•• C••••••• S•••••• D••••••••• & R••••• | term loan first lien | $15.0M | $14.8M 99c | S+650 bp | Oct 31, 2028 |
| M•••• B•••• M•••••• G•••• L•• H••••• C••• E•••••••• & S••••••s | term loan first lien | $14.2M | $14.7M 104c | S+650 bp PIK 1.50% | Aug 2, 2024 |
| G••••••• H••••••• L•• | equity equity | Not disclosed | $14.7M | ||
| W••••••• I•• Capital G•••• | term loan first lien | $14.8M | $14.7M 99c | S+500 bp | Apr 5, 2029 |
| Z•••••• I•• S••••••• & S••••••s | unstated lien unstated | $14.5M | $14.7M 102c | S+625 bp | Nov 22, 2028 |
| D••••• C•••••••• I•• M•••••••• | unstated lien unstated | $14.7M | $14.7M 100c | S+500 bp | Jun 13, 2031 |
| G••••••• H••••••• L••• A•• E••••• Financial S••••••s | unstated lien unstated | Not disclosed | $14.7M 107c | ||
| D••••• C•••••••• I•• M•••••••• | unstated lien unstated | $14.7M | $14.6M 99c | S+500 bp | Jun 13, 2031 |
| A•• N••••••• C••• | unstated lien unstated | Not disclosed | $14.3M | ||
| A•• N••••••• C••• Capital G•••• | unstated lien unstated | $14.3M | $14.3M 100c | S+550 bp | Sep 1, 2026 |
| C•••••• E•••••••• L•• C••••••• S••••••s | unstated lien unstated | $14.4M | $14.3M 99c | S+500 bp | May 1, 2031 |
| T••• M••••••••• C• Capital G•••• | term loan first lien | $14.7M | $13.8M 94c | S+650 bp | Dec 1, 2027 |
| P•• G•••• T••••••••• | unstated lien unstated | $13.7M | $13.7M 101c | S+525 bp | Apr 3, 2031 |
| T••• M••••••••• C• Capital G•••• | term loan first lien | $13.6M | $13.7M 95c | S+650 bp | Dec 1, 2027 |
| D•••••••• L•• H••••• C••• E•••••••• & S••••••s | unstated lien unstated | $13.7M | $13.6M 99c | S+575 bp | Aug 5, 2028 |
| S••••••• C••••••••• L•• | equity equity | Not disclosed | $13.4M 189c | ||
| B••••• F•••••• I•• F•••, B••••••• & T•••••• | term loan first lien | $65.3M | $12.9M 24c | Sep 10, 2026 | |
| S••••••• B••••• L•• C••••••• S••••••s | unstated lien unstated | $12.7M | $12.9M 103c | S+675 bp | Jul 25, 2028 |
| T•••••••• S••••••• I•• Capital G•••• | unstated lien unstated | $12.9M | $12.8M 100c | S+500 bp | Jun 17, 2031 |
| T••••••• T•••••• G•••• L•• | revolver lien unstated | $10.0M | $12.7M 100c | S+700 bp | Sep 5, 2026 |
| J• S• H••• L•• I•••••••• | term loan first lien | $12.7M | $12.6M 100c | S+550 bp | Dec 1, 2026 |
| H••••• T••••••••• S•••••• L•• T••••••••• | term loan first lien | $12.6M | $12.6M 100c | S+575 bp | Dec 3, 2024 |
| S••••••• B••••• L•• C••••••• S••••••s | unstated lien unstated | $12.3M | $12.5M 103c | S+650 bp | Jul 25, 2028 |
| D•• G••••••• S•• P•••••••••, B••••••••• & L••• S••••••• | unstated lien unstated | $11.6M | $12.5M 111c | S+650 bp | Oct 27, 2028 |
| B••• I•• | unstated lien unstated | Not disclosed | $12.5M | ||
| M•••• B•••• M•••••• G•••• L•• H••••• C••• E•••••••• & S••••••s | term loan first lien | $12.1M | $12.5M 103c | S+650 bp PIK 1.50% | Aug 2, 2024 |
| B••• I•• C••••••• D••••••••• D••••••••• & R••••• | unstated lien unstated | $70.1M | $12.5M 39c | S+1000 bp | Jul 31, 2025 |
| A•••• L••••• | preferred equity equity | Not disclosed | $12.4M 88c | Apr 30, 2031 | |
| A••••••••• C••• I•• | unstated lien unstated | Not disclosed | $12.3M | ||
| V••••••• S••••••• L•• S••••••• & S••••••s | term loan first lien | $11.7M | $12.2M 99c | S+625 bp | Jul 31, 2030 |
| C•••••••• C••••••••• F•••••• L••• 2• | term loan lien unstated | $12.0M | $12.1M 101c | S+900 bp | Nov 3, 2025 |
| H••• P••••••• J• 2• S••••••••• | subordinated debt unsecured or subordinated | $12.1M | $12.1M 100c | PIK 11.00% | Mar 20, 2030 |
| H••• P••••••• J• 2• S••••••••• | subordinated debt unsecured or subordinated | Not disclosed | $12.1M | ||
| S•• G•••• I•• Capital G•••• | unstated lien unstated | $11.9M | $11.8M 99c | S+500 bp | Mar 20, 2031 |
| F••••••••• R••• P••••••• C••• I•••••••• | term loan first lien | $11.8M | $11.8M 100c | S+525 bp | Oct 29, 2029 |
| Q••••• H••••• C••• | equity equity | Not disclosed | $11.6M | ||
| A••••••• S•••••••• G•••• L•• I•••••••• | term loan first lien | $11.8M | $11.6M 99c | S+525 bp | Dec 22, 2028 |
| Q••••• H••••• C•••• P•••••• E••••• H••••• C••• E•••••••• & S••••••s | unstated lien unstated | Not disclosed | $11.6M 414c | ||
| Z••• I••••••••• P••••••• I•• H••••• C••• E•••••••• & S••••••s | unstated lien unstated | $11.6M | $11.6M 100c | S+550 bp | Feb 28, 2030 |
| M•••• L•••• S••••••• L•• C••••••••• & P••••••••• S••••••s | unstated lien unstated | $11.2M | $11.4M 102c | S+600 bp | Nov 21, 2029 |
| A•••• L••••• S••••••• & S••••••s | term loan first lien | $12.7M | $11.4M 90c | S+300 bp | Apr 20, 2028 |
| C•••••••• D••••• G•••• H••••• C••• E•••••••• & S••••••s | unstated lien unstated | $10.9M | $11.3M 100c | S+850 bp | Apr 5, 2029 |
| A••••• O•• P•••••• A•• E••••• | equity equity | Not disclosed | $11.2M 110c | ||
| G••••• P••••••• H••••••• L•• I•••••••• | term loan first lien | $11.2M | $11.2M 100c | S+525 bp | Sep 30, 2027 |
| B••••• ••• D•••• O•••• | equity equity | Not disclosed | $11.2M | ||
| A••••• O•• P••••• | equity equity | Not disclosed | $11.2M | ||
| B••••• ••• D•••• O•••• | equity equity | Not disclosed | $11.2M 339c | ||
| S••••••• C••••••••• L•• T••••••••• S••••••s | term loan first lien | $11.5M | $11.0M 126c | Apr 1, 2030 | |
| A••••••• A••••••••• C••• Capital G•••• | term loan first lien | $10.6M | $10.6M 100c | S+625 bp | Aug 4, 2028 |
| A••••••••• C••• I•• H••••• C••• E•••••••• & S••••••s | term loan first lien | $10.4M | $10.4M 100c | S+550 bp | Aug 2, 2028 |
| O••••••••• L•• S••••••• & S••••••s | term loan second lien | $10.3M | $10.3M 100c | S+525 bp | Apr 22, 2031 |
| C•••••••• S••••• G•••• A• Capital G•••• | unstated lien unstated | $9.8M | $10.3M 98c | S+600 bp | Apr 7, 2031 |
| C•••• F•••• S••• | revolver lien unstated | $10.3M | $10.3M 100c | S+675 bp | Nov 20, 2026 |
| N•• H••• C••••••• D••••••• & A•••••• | unstated lien unstated | $10.1M | $10.1M 100c | Mar 30, 2025 | |
| H••••••••• I•••••••• A••••• I•• I•••••••• | term loan first lien | $10.2M | $10.1M 99c | S+550 bp | Nov 24, 2028 |
| F•••••• S••••••• C• S••••••• & S••••••s | term loan first lien | $9.9M | $9.9M 100c | S+500 bp | Aug 31, 2027 |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2012 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- FS Investment CORP; Franklin Square Investment CORPreported
- Latest schedule
- 0001628280-26-053783reported