DFX Intelligence
The names on this page are hidden. Create a free account to reveal 5 records a month, or get Private Credit Intelligence at $249 a month for every name. Every figure, date and source on this page is public either way.
S•••••• C•••••• I••••••••• C•••
A business development company traded as SCM, managed by S•••••• C•••••• M••••••••• L••, holding $973M across 124 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
- $973M
- Borrowers
- 124
- Mark on cost
- 96.3¢
- First lien
- 0%
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
- $50.1Mon non-accrual, 3 borrowers
3 borrowers on non-accrual, $50.1M principal; the largest is A••••••• B•••••• E••••••••• ($23.3M).
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 A••••••• B•••••• E••••••••• → - $26.8Mnewly on non-accrual
2 borrowers newly placed on non-accrual in Q2 2026, $26.8M principal: J••• W••••••• L•• ($15.3M), E• R••• E••••• S•••••••• L•• ($11.5M).
Q2 2026 · The newest credit problems in the book.
- 13 below 80¢$71.4M principal
13 positions across 5 borrowers marked below 80¢ on cost, $71.4M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 94.9¢ → 96.3¢book mark on cost
Marked its book up from 94.9¢ to 96.3¢ on the dollar in the quarter to Jun 30, 2026.
Q2 2026 · The whole portfolio was marked up.
- 28 → 33loans paying in kind
Loans paying in kind rose from 28 to 33 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.
Every headline figure, and the identifiersCIK 1551901 · file 814-00971ShowHide
Fair value
$973M
as of Jun 30, 2026
Principal held
$872M
debt pieces, the filer's figure
Cost
$978M
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
403
124 borrowers
First lien
0%
90% debt by fair value
Quarters on the tape
17
since Dec 31, 2021
Facilities held
290
28 sponsors financed
Portfolio through time
Fair value by quarter end$973M as of Jun 30, 2026
Dec 31, 2021$772M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $973M | 124 | 96c | 33 | 608 bp |
| Mar 31, 2026 | $998M | 123 | 95c | 28 | 609 bp |
| Dec 31, 2025 | $1.4B | 131 | 98c | 39 | 608 bp |
| Sep 30, 2025 | $1.0B | 126 | 98c | 34 | 615 bp |
All 17 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $991M | 123 | 96c | 32 | 623 bp |
| Mar 31, 2025 | $991M | 120 | 97c | 27 | 622 bp |
| Dec 31, 2024 | $1.4B | 125 | 98c | 33 | 627 bp |
| Sep 30, 2024 | $909M | 115 | 97c | 24 | 726 bp |
| Jun 30, 2024 | $900M | 109 | 98c | 22 | 720 bp |
| Mar 31, 2024 | $876M | 105 | 98c | 21 | 694 bp |
| Dec 31, 2023 | $923M | 104 | 98c | 20 | 712 bp |
| Sep 30, 2023 | $708M | 90 | 97c | 6 | 666 bp |
| Jun 30, 2023 | $867M | 102 | 96c | 15 | 669 bp |
| Mar 31, 2023 | $877M | 96 | 97c | 14 | 665 bp |
| Dec 31, 2022 | $850M | 93 | 97c | 11 | 667 bp |
| Sep 30, 2022 | Not disclosed | 97 | n/a | 5 | 667 bp |
| Dec 31, 2021 | $772M | 80 | 96c | 5 | 677 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- Placed on non-accrualJun 30, 2026
- Placed on non-accrualJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
Full timeline · 20 eventsShow fewer
- 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
- PIK interest appearsJun 30, 2026
- PIK interest increasedJun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- Lender left a facilityMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
- Lender left a facilityMar 31, 2026
- New borrower on a BDC scheduleMar 31, 2026
Largest facilities held, with co-lenders
- V••••••• B••••• L•• term loan1 BDC hold it · matures Dec 20, 2028 · possible sponsor P•••••••• C•••••• P•••••••$23.1M 84c
- A••••••• B•••••• E••••••••• term loan1 BDC hold it · matures Nov 30, 2026$21.8M 53c
- E••••• L••• S••••••••• L•• term loan1 BDC hold it · matures Jun 30, 2028$17.4M 97c
- A••••• A••••••••• L•• term loan1 BDC hold it · matures May 7, 2028 · possible sponsor F••• P••••• C•••••• L••$16.7M 99c
- P•• term loan1 BDC hold it · matures Jun 30, 2027$15.7M 99c
- M•• E••••••••• L•• term loan1 BDC hold it · matures May 19, 2028$15.1M 99c
- C•••••• P••••••• I••••••••• L•• term loan4 BDCs hold it · matures Feb 7, 2027$14.6M 100c
- I••••••••• L•• term loan1 BDC hold it · matures Jul 30, 2027 · possible sponsor T•• C•••••••• G••••• L••$14.5M 100c
- U••• E••••••••• L•• term loan1 BDC hold it · matures Dec 22, 2026$14.2M 99c
- A•• G•••• O••• term loan1 BDC hold it · matures Dec 31, 2027$13.6M 98c
- J••• W••••••• L•• term loan1 BDC hold it · matures Dec 31, 2026$13.6M 24c
- C••••• I•• term loan1 BDC hold it · matures Sep 1, 2026$13.2M 100c
Schedule of investments at Mar 31, 2023
227 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| H• W•••••••• H•••••••• L•• H• A••••••••• V•• L•• | equity equity | Not disclosed | $1.3M 82c | ||
| G• H••• I••••••••• L•• | revolver lien unstated | $1.3M | $1.3M 100c | //Stella USCapital/20230331#One Month London Interbank Offered Rate+650 bp | Nov 30, 2028 |
| E•••••• A•••••••• L•• | revolver lien unstated | $1.4M | $1.3M 90c | //Stella USCapital/20230331#One Month London Interbank Offered Rate+800 bp PIK 2.00% | Jun 30, 2025 |
| T••••••••• L•• T••••••••• H•••••••• L•• | equity equity | Not disclosed | $1.1M 129c | ||
| I••••••••• B••• C•••••• L•• | term loan lien unstated | $1.1M | $1.1M 98c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+650 bp | Dec 31, 2026 |
| I••••••••• O••••••• N••••••• L•• | term loan lien unstated | $1.1M | $1.1M 98c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+600 bp | Jun 24, 2025 |
| D•• E••••••••• L•• D•• H•••••• C••••••• L•• | equity equity | Not disclosed | $995,040 213c | ||
| E••••• L••• S•••••••• L•• | term loan lien unstated | $992,500 | $987,538 101c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+575 bp | Mar 16, 2027 |
| C••• V••••• I••• C• T•••• L•• U•••• | unstated lien unstated | Not disclosed | $968,753 106c | ||
| A••••• S••••••• L•• | term loan lien unstated | $997,500 | $967,575 99c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+600 bp | Aug 11, 2027 |
| P•• S•••••••• I••• | delayed draw term loan lien unstated | $970,000 | $960,300 99c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+600 bp | Aug 31, 2027 |
| X••••••• I••• P••• T••••• L•• | equity equity | Not disclosed | $946,534 90c | ||
| C••••• C••••••••• L•• | equity equity | Not disclosed | $921,339 115c | ||
| E••••••••• A••••••••• I••• K•• H••••••• L• | equity equity | Not disclosed | $873,333 100c | Feb 8, 2024 | |
| I•••••••• M•••• B••••• L•• T•••• A••• I•••••••• M••••• L• | equity equity | Not disclosed | $842,762 196c | ||
| M•• E••••••••• L•• M••••• S•• H••••••• | equity equity | Not disclosed | $839,713 90c | ||
| I•••••• B••••• L•• I•••••• H•••••••• L•• | preferred equity equity | Not disclosed | $834,458 106c | ||
| S•• H•••••••• L•• | term loan lien unstated | $854,305 | $820,133 98c | //Stella USCapital/20230331#One Month London Interbank Offered Rate+625 bp | Oct 29, 2026 |
| B•• B••••• I••• B• P••••••• P•••••• L••• | equity equity | Not disclosed | $762,165 101c | ||
| I••••••••• B••• C•••••• L•• W•••••• P••••• H•••••• L•• | equity equity | Not disclosed | $744,144 57c | ||
| I••••••••• B••• C•••••• L•• | revolver lien unstated | $744,681 | $722,341 97c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+650 bp | Mar 31, 2029 |
| R•••• A•• N••••••• L•• C••••••• C•••••••• B• L• | equity equity | Not disclosed | $710,600 100c | ||
| E••••• L••• S••••••••• L•• S• E•• H••••••• L•• | equity equity | Not disclosed | $694,504 62c | ||
| D•••••• P••••••• G••••• L• | equity equity | Not disclosed | $690,409 | ||
| A••• P••••••• A••• L•• A••• A•• P•••••• L•• | preferred equity equity | Not disclosed | $682,138 154c | ||
| O•••••• I••••••••• S•••••••• L••• S•••••••• T•••• | equity equity | Not disclosed | $672,863 111c | ||
| T•• L••••••• H•••••••• L•• | equity equity | Not disclosed | $672,248 121c | ||
| A••••• A••••••••• L•• A••••• H•••••••• I••• | preferred equity equity | Not disclosed | $651,201 93c | ||
| B•••• M••••••••• C••••••• L•• B•• B••• W•••• H•••••••• L•• | equity equity | Not disclosed | $615,263 83c | ||
| U••• A••• S••••• I••• e• a• | equity equity | Not disclosed | $600,000 300c | ||
| S•••• B•••••••• I••••• L•• S•• H••••••• I••••••••• L•• | equity equity | Not disclosed | $581,678 87c | ||
| E•• F•••••• H•••••••• L•• | equity equity | Not disclosed | $576,422 | May 22, 2028 | |
| N••••• L•• N• G•••• H•••••• C••••••• L•• | equity equity | Not disclosed | $575,130 72c | May 5, 2026 | |
| I••••••••• W•••• S•••••••• I••• | equity equity | Not disclosed | $572,041 60c | ||
| A••••• A••••••••• L•• | revolver lien unstated | $519,608 | $514,412 99c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+600 bp | May 7, 2026 |
| D••• C•••••• C••••••••• I••• H••••• M•••••• H•••••••• L•• | preferred equity equity | Not disclosed | $506,442 51c | Apr 1, 2026 | |
| H•••••••• B••••••• S••••••• L••• A••• H•• H•••••••• L• | equity equity | Not disclosed | $494,705 173c | ||
| T•••• E•••••••• A••••••••• L••••• T•••• E•••••••• H•••••••• L••••• | equity equity | Not disclosed | $485,608 73c | ||
| P•• S••••••• P•••••• L•• | equity equity | Not disclosed | $445,910 | Aug 31, 2027 | |
| C••• P••••••• L•• C••• V••• 8•• B•••••• | equity equity | Not disclosed | $421,206 168c | ||
| F•••••••• C••••••••• S• F• H•••••••• L••• | equity equity | Not disclosed | $409,013 113c | ||
| C••••••••• L•• C••••••••• H•••••••• I••• | preferred equity equity | Not disclosed | $389,762 75c | ||
| E••••• L•• G•••• E•••• C•••••••• L•• | equity equity | Not disclosed | $377,535 100c | Apr 29, 2028 | |
| C••••• H•••••••• L•• S• C• H••••••• L•• | equity equity | Not disclosed | $359,148 49c | ||
| N•••••• H•••• H•••••••• L••• | equity equity | Not disclosed | $347,303 158c | ||
| N•••••• H•••• H•••••••• L••• | equity equity | Not disclosed | $347,303 158c | ||
| C•••••• B••••• L•• C•••••• H••••••• P••••••••• | equity equity | Not disclosed | $341,091 100c | ||
| U••• A••• S•••• | equity equity | Not disclosed | $330,000 300c | ||
| D•• E••••••••• L•• D•• H•••••• C•••••• | equity equity | Not disclosed | $329,442 46c | Sep 3, 2026 | |
| N•••••• L••• N••••• H••••••• | equity equity | Not disclosed | $322,428 103c | ||
| H• W•••••••• H•••••••• L•• | delayed draw term loan lien unstated | $322,299 | $314,242 98c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+625 bp | Dec 17, 2026 |
| S•• H•••••••• L•• S•• H••••••• | equity equity | Not disclosed | $300,472 60c | ||
| U• S• A••• S•••• I•• | equity equity | Not disclosed | $300,000 300c | ||
| C•••••• P••••••• S•••••• S•••••••• L•• Q•• P•••••• C•••••••• B••••••• I••• | equity equity | Not disclosed | $280,843 98c | ||
| P•••••• P••••••• H•••••••• L•• P•••••• G•••• H••••••• L•• | equity equity | Not disclosed | $273,126 54c | ||
| L•••••••• I••••••••• I•• L•• G•••• V•••••• C••••••• | equity equity | Not disclosed | $251,481 63c | ||
| L•••• L••••••• I••• S• L• H••••••• L•• | equity equity | Not disclosed | $244,351 65c | ||
| E•• F•••••• H•••••••• L•• | preferred equity equity | Not disclosed | $235,850 | May 22, 2028 | |
| C••••• I••• S••••••• H•••••••• L•• | equity equity | Not disclosed | $227,615 103c | ||
| C•••• I••••••••• I••• C•••• H•••••••• L• | equity equity | Not disclosed | $223,804 90c | ||
| I••••••••• D•••••• G•••• L•• I••••••••• D•••••• H••••••• L•• | equity equity | Not disclosed | $210,235 105c | ||
| I•••••••• H•••••• L•• L••••• P•••••• I••• | equity equity | Not disclosed | $169,820 | ||
| A•• G•••• O•••• L•• P•••• A••••••••• L•• | equity equity | Not disclosed | $151,859 53c | ||
| A••••••• R••••••••• L•• A••••• H•••••••• L•• | equity equity | Not disclosed | $141,261 100c | ||
| V••••••• B••••• L•• | term loan lien unstated | $148,832 | $139,158 95c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+800 bp PIK 7.00% | May 27, 2026 |
| J••• W••••••• L•• J••• W•••••• H•••••••• I••• | preferred equity equity | Not disclosed | $135,642 12c | ||
| E•••••• A•••••••• L•• S• E• H••••••• L•• | equity equity | Not disclosed | $131,893 15c | ||
| W••••• H••••••• L• | equity equity | Not disclosed | $107,418 100c | ||
| A••••• S••••••• L•• C• A••• H••••••• L•• | equity equity | Not disclosed | $103,564 104c | ||
| M•••••••• H••••••• L•• | delayed draw term loan lien unstated | $100,000 | $99,922 99c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+700 bp | May 30, 2029 |
| A••• P••••••• A••• L•• | delayed draw term loan lien unstated | $100,000 | $99,500 100c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+575 bp | Dec 31, 2030 |
| M•••••••• H••••••• L•• | term loan lien unstated | $100,000 | $99,000 100c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+700 bp | May 30, 2029 |
| S•••••• M•••• C••••••• L•• | delayed draw term loan lien unstated | $99,508 | $97,518 99c | //Stella USCapital/20230331#Six Month London Interbank Offered Rate+500 bp | Feb 7, 2028 |
| H••• M•••• S•••• S••••• S•••••••• L•• | term loan lien unstated | $99,500 | $97,510 100c | //Stella USCapital/20230331#Six Month Secured Overnight Financing Rate+525 bp | Jul 1, 2029 |
| M•••••••• C••••• A••••••••• I•• | term loan lien unstated | $99,500 | $97,510 99c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+600 bp | Sep 2, 2027 |
| H••• M•••• S•••• S••••• S•••••••• L••• I••••• C••••••••• L• | equity equity | Not disclosed | $96,736 124c | ||
| S•• H•••••••• L•• | revolver lien unstated | $100,000 | $96,000 96c | //Stella USCapital/20230331#One Month London Interbank Offered Rate+625 bp | Oct 29, 2026 |
| T••••• D••••••••• I••• | term loan lien unstated | $98,994 | $95,529 98c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+550 bp | Dec 31, 2026 |
| U••••• C••••••• H•••••••• L•• U••••• C•••••••• L•• | equity equity | Not disclosed | $94,920 13c | ||
| M•••••••• C••••• A••••••••• I•• | revolver lien unstated | $93,333 | $91,466 98c | //Stella USCapital/20230331#Six Month Secured Overnight Financing Rate+600 bp | Sep 2, 2027 |
| U••• A••• S•••• | equity equity | Not disclosed | $85,688 114c | ||
| V••••••• B••••• L••• V••••••• H••••••• | term loan lien unstated | $91,504 | $85,556 93c | S+1000 bp PIK 10.00% | Dec 20, 2028 |
| H• W•••••••• H•••••••• L•• | revolver lien unstated | $84,000 | $81,900 98c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+625 bp | Dec 17, 2026 |
| I•••••• B••••• L•• | delayed draw term loan lien unstated | $82,917 | $81,259 99c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+575 bp | Aug 15, 2028 |
| M•••••••• C••••• A••••••••• I••• M••••••••• I••••••••• L• | equity equity | Not disclosed | $76,268 76c | ||
| A•• G•••• O•••• L•• P•••• A••••••••• L•• | equity equity | Not disclosed | $76,180 36c | ||
| T•••• E•••••••• A••••••••• L••••• | revolver lien unstated | $80,000 | $74,800 94c | //Stella USCapital/20230331#One Month London Interbank Offered Rate+625 bp | Dec 28, 2027 |
| A••••• A••••••••• L•• A••••• H•••••••• I••• S••••• A• | equity equity | Not disclosed | $72,356 93c | ||
| F•••••••• | revolver lien unstated | $70,000 | $67,900 97c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+650 bp | Apr 29, 2028 |
| C••••• H•••••••• L•• | revolver lien unstated | $70,000 | $67,550 97c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+625 bp | Dec 31, 2028 |
| C•••••• B••••• L•• C•••••• H••••••• P••••••••• | equity equity | Not disclosed | $62,961 100c | ||
| A•• G•••• O•••• L•• | revolver lien unstated | $60,000 | $58,800 98c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+675 bp | Dec 31, 2027 |
| U••• A••• S•••• | equity equity | Not disclosed | $57,125 114c | ||
| M•••••••• H••••••• L•• | revolver lien unstated | $50,000 | $53,875 99c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+700 bp | May 30, 2029 |
| R••••• M••••••••• C••••••••• L•• | revolver lien unstated | $53,333 | $52,533 98c | //Stella USCapital/20230331#Six Month Secured Overnight Financing Rate+800 bp PIK 1.00% | Sep 9, 2025 |
| L•••• L•••••• I••• | revolver lien unstated | $50,000 | $49,250 99c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+625 bp | Nov 9, 2027 |
| R••••• M••••••••• C••••••••• L•• | delayed draw term loan lien unstated | $49,464 | $48,722 99c | //Stella USCapital/20230331#Six Month Secured Overnight Financing Rate+800 bp PIK 1.00% | Sep 9, 2025 |
| H••• M•••• S•••• S••••• S•••••••• L•• | revolver lien unstated | $45,714 | $44,800 98c | //Stella USCapital/20230331#Three Month Term Secured Overnight Financing Rate+525 bp | Jul 1, 2028 |
| C••••••••• L•• | revolver lien unstated | $40,000 | $39,000 98c | //Stella USCapital/20230331#Three Month London Interbank Offered Rate+650 bp | Dec 21, 2025 |
| B•• B••••• I••• | revolver lien unstated | $36,566 | $35,652 98c | //Stella USCapital/20230331#One Month Secured Overnight Financing Rate+625 bp | Feb 1, 2027 |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2013 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Latest schedule
- 0001104659-26-093435reported