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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 increasedJun 30, 2026
- PIK interest appearsJun 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 Sep 30, 2023
206 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| P•• S•••••••• I••• | term loan lien unstated | Not disclosed | $17.2M 103c | S+625 bp | Jun 30, 2027 |
| J••••••• A••••••••• C•••• | term loan lien unstated | $16.7M | $16.6M 100c | S+550 bp | Nov 15, 2024 |
| P•••• M•••• H•••••••• L•• | term loan lien unstated | $16.2M | $16.1M 101c | S+650 bp | Aug 31, 2027 |
| E••••••••• A••••••••• I••• | term loan lien unstated | $16.3M | $16.0M 98c | S+675 bp PIK 1.00% | Jan 24, 2028 |
| M•• E••••••••• L•• | term loan lien unstated | $16.1M | $15.9M 100c | S+648 bp | May 19, 2028 |
| C••• V••••• I••• | term loan lien unstated | Not disclosed | $15.6M 100c | S+724 bp | Aug 28, 2026 |
| I••••••••• O••••••• N••••••• L•• | term loan lien unstated | $15.7M | $15.5M 99c | S+600 bp | Jun 24, 2025 |
| A••••• A••••••••• | term loan lien unstated | $15.2M | $15.2M 101c | S+600 bp | May 7, 2026 |
| A••••••• B•••••• E••••••••• L•• | term loan lien unstated | $17.0M | $14.6M 87c | S+750 bp | Nov 30, 2026 |
| A•• G•••• O•••• L•• | term loan lien unstated | $14.3M | $14.3M 101c | S+675 bp | Dec 31, 2027 |
| C••••• I••• | term loan lien unstated | $13.9M | $13.8M 100c | S+600 bp | Sep 1, 2026 |
| B•••• M••••••••• C••••••• L•• | term loan lien unstated | Not disclosed | $13.7M 102c | S+525 bp | Jul 5, 2027 |
| P•••••• P••••••• H•••••••• L•• | revolver lien unstated | $13.3M | $13.3M 100c | S+525 bp | Dec 30, 2026 |
| C•••••• P••••••• I••••••••• L•• | term loan lien unstated | $13.3M | $13.1M 99c | S+700 bp | Feb 7, 2027 |
| H• W•••••••• H•••••••• L•• | term loan lien unstated | $13.2M | $13.1M 100c | S+625 bp | Dec 17, 2026 |
| E••••• N••••••• L•• | term loan lien unstated | $12.8M | $12.8M 102c | S+675 bp | May 22, 2028 |
| N••••••••• M••••••••• L•• | term loan lien unstated | $12.8M | $12.8M 102c | S+700 bp | Nov 16, 2027 |
| C••••• H•••••••• L•• | term loan lien unstated | $12.9M | $12.5M 99c | S+675 bp | Dec 31, 2028 |
| G•••• I••••••••• I•• I•• | term loan lien unstated | $12.4M | $12.4M 100c | S+650 bp | Aug 8, 2028 |
| A••• P••••••• A••• L•• | term loan lien unstated | $12.0M | $12.0M 102c | S+575 bp | Dec 31, 2030 |
| I•••••• B••••• L•• | term loan lien unstated | $9.9M | $11.9M 90c | S+575 bp | Aug 15, 2028 |
| C••• P••••••• L•• | term loan lien unstated | Not disclosed | $10.0M 101c | S+525 bp | Sep 3, 2026 |
| A••• L•••• S••••••••• L•• | term loan lien unstated | Not disclosed | $10.0M 99c | S+650 bp | May 9, 2028 |
| D••• C•••••• C••••••••• I••• H••••• M•••••• H•••••••• L•• | preferred equity equity | Not disclosed | $10.0M 101c | S+850 bp | Apr 1, 2026 |
| H•••••••• B••••••• S•••••• L•• | term loan lien unstated | $9.9M | $9.9M 102c | S+625 bp | Aug 26, 2027 |
| C•••••••• I••••••••• I• I•• | term loan lien unstated | $10.1M | $9.9M 100c | S+650 bp | Jun 30, 2028 |
| K••••••••• H•••••••• I••• | term loan lien unstated | $9.8M | $9.8M 101c | S+675 bp | Dec 24, 2025 |
| I••••••••• L•• | term loan lien unstated | $9.8M | $9.7M 100c | S+575 bp | Jul 30, 2027 |
| P•• S•••••••• I••• | delayed draw term loan lien unstated | $9.9M | $9.7M 100c | S+625 bp | Aug 31, 2027 |
| E••••• L•• | term loan lien unstated | $9.9M | $9.7M 100c | S+650 bp | Apr 29, 2028 |
| C•••••• 3•• A••••••••• L•• | term loan lien unstated | $9.6M | $9.4M 100c | S+650 bp | Aug 2, 2028 |
| N••••••• F••••••••• L•• N••••••• F•••••••• A••••••••• I••• •••• I•• | term loan lien unstated | $9.1M | $9.1M 101c | S+621 bp | Jan 31, 2027 |
| D•••••• U•••••• S••••••••• L•• | term loan lien unstated | Not disclosed | $9.0M 100c | S+625 bp | Apr 1, 2026 |
| M•••••• F••••••• L•• | term loan lien unstated | $8.9M | $8.9M 101c | S+600 bp | Apr 3, 2028 |
| E•••••• A•••••••• L•• | term loan lien unstated | Not disclosed | $8.9M 80c | Dec 31, 2026 | |
| P••••••• D•••••• S•••••••• I••• P••••••• D•••••• H•••••••• I••• | equity equity | Not disclosed | $8.8M 101c | S+600 bp | Jan 31, 2029 |
| E••••• L••• S•••••••• L•• | term loan lien unstated | $8.8M | $8.8M 101c | S+575 bp | Mar 16, 2027 |
| C•••• I••••••••• I••• | term loan lien unstated | Not disclosed | $8.5M 101c | S+650 bp | Dec 31, 2027 |
| N••••••••• M••••••• H••••••• C••••••••• I•• I••• | term loan lien unstated | $8.4M | $8.4M 100c | S+675 bp | Dec 31, 2026 |
| I•••••••• M•••• B••••• L•• | term loan lien unstated | Not disclosed | $8.4M 101c | S+575 bp | May 1, 2028 |
| A••••••• R••••••••• L•• | term loan lien unstated | $8.2M | $8.2M 102c | S+650 bp | Mar 31, 2028 |
| I•••••••• H•••••• L•• | term loan lien unstated | $8.1M | $8.1M 101c | S+550 bp | Oct 18, 2027 |
| J••• W••••••• L•• | term loan lien unstated | $13.2M | $7.7M 59c | S+1200 bp PIK 5.00% | Dec 31, 2026 |
| L•••• L••••••• I••• | term loan lien unstated | $7.5M | $7.5M 101c | S+625 bp | Nov 9, 2027 |
| E•• B••••• I•• | term loan lien unstated | $8.5M | $7.4M 88c | S+800 bp PIK 2.00% | Jul 31, 2029 |
| I••••••••• L•• | term loan lien unstated | $7.4M | $7.3M 100c | S+575 bp | Jul 30, 2027 |
| A••••••••• A••••••••• H••••••• I•• L••• S••••••• A••••••••• H•••••••• L••• | equity equity | Not disclosed | $7.2M | ||
| C••••••••• L•• | term loan lien unstated | $6.7M | $6.7M 101c | S+650 bp | Dec 21, 2025 |
| B•• B••••• I••• | term loan lien unstated | $6.1M | $6.1M 101c | S+650 bp | Feb 1, 2027 |
| I••••• H••• S••••••• L•• | term loan lien unstated | $5.9M | $5.8M 100c | S+650 bp | Apr 28, 2028 |
| I•••••••• H•••••• L•• | term loan lien unstated | $5.8M | $5.8M 101c | S+550 bp | Oct 18, 2027 |
| A••••••••• A••••••••• L•• | term loan lien unstated | Not disclosed | $5.7M 39c | S+700 bp | Nov 6, 2028 |
| N•••• M•••••••• T••••••••• L•• | term loan lien unstated | Not disclosed | $5.6M 96c | S+1375 bp PIK 9.75% | Jul 29, 2026 |
| 2• L•• | term loan lien unstated | $5.5M | $5.4M 101c | S+650 bp | Jun 5, 2028 |
| N••••••••• M••••••• H••••••• C••••••••• I•• I••• | term loan lien unstated | $5.3M | $5.3M 100c | S+675 bp | Dec 31, 2026 |
| I••••••••• B••• C•••••• L•• | term loan lien unstated | $5.4M | $5.3M 99c | S+650 bp | Mar 31, 2029 |
| N•••••• L•• | term loan lien unstated | $5.0M | $5.0M 102c | S+650 bp | Oct 12, 2027 |
| C•••••• P••••••• S•••••• S•••••••• L•• | term loan lien unstated | Not disclosed | $5.0M 102c | S+650 bp | Nov 22, 2027 |
| E•• F•••••• H•••••••• L•• | preferred equity equity | $5.0M | $4.9M 101c | S+650 bp | May 22, 2028 |
| I••••••••• B••• C•••••• L•• | term loan lien unstated | $5.0M | $4.9M 99c | S+650 bp | Dec 31, 2026 |
| C•••••• B••••• L•• | term loan lien unstated | Not disclosed | $4.6M 102c | S+675 bp | Mar 15, 2029 |
| M•••••• L••••• I••• | term loan lien unstated | $4.5M | $4.5M 102c | S+700 bp | Dec 30, 2028 |
| M••••• E••••••••• G•••• I••••••••• H•••••••• I•• | term loan lien unstated | $4.4M | $4.3M 100c | S+625 bp | Aug 3, 2029 |
| F•••••••• C••••••••• S• F• H•••••••• L••• | equity equity | Not disclosed | $4.3M 97c | ||
| F•••••••• C••••••••• | revolver lien unstated | $4.5M | $4.3M 97c | S+900 bp | Apr 29, 2028 |
| N••••••• F••••••••• L•• N••••••• H•••••••• I••• | warrants equity | Not disclosed | $3.9M 101c | S+621 bp | Nov 15, 2025 |
| O•••••• I••••••••• S•••••••• L••• S•••••••• T•••• | equity equity | Not disclosed | $3.8M 3178c | ||
| O•••••• I••••••••• S•••••••• L•• | term loan lien unstated | $825,020 | $3.8M 3178c | Nov 16, 2027 | |
| A••••• S••••••• L•• | term loan lien unstated | $3.8M | $3.8M 101c | S+600 bp | Aug 11, 2027 |
| A••• L•••• S••••••••• L•• | term loan lien unstated | $3.2M | $3.1M 99c | S+650 bp | May 9, 2028 |
| I•• H•••••••• L•• | preferred equity equity | $750,000 | $3.1M | ||
| I•••••••• H•••••• L•• | term loan lien unstated | $3.0M | $3.0M 101c | S+550 bp | Oct 18, 2027 |
| C••••• I••• | delayed draw term loan lien unstated | Not disclosed | $3.0M 100c | S+600 bp | Sep 1, 2026 |
| P•••••• P••••••• H•••••••• L•• P•••••• G•••• H••••••• L•• | equity equity | Not disclosed | $2.8M | ||
| A••••••••• A••••••••• H••••••• I•• L••• | equity equity | Not disclosed | $2.5M | ||
| G•••• I••••••••• I•• I••• G•••• T•••• H•••••••• L•• | equity equity | $2.3M | $2.3M 100c | S+650 bp | Apr 2, 2025 |
| H• W•••••••• H•••••••• L•• H• A••••••••• V•• L•• | equity equity | $1,632 | $2.0M 125c | ||
| A••• P••••••• A•• L• L• C• | term loan lien unstated | $1.9M | $1.9M 102c | S+575 bp | Dec 31, 2030 |
| P•• M• A••••••••• H•••••••• L••• | equity equity | Not disclosed | $1.8M 100c | S+600 bp | Jul 1, 2024 |
| A••• L•••• S••••••••• L•• S• A• I••••••••• L•• | equity equity | $1,000 | $1.8M 291c | ||
| I•• H•••••••• L•• | equity equity | $9,962 | $1.8M 392c | ||
| B•• B•••• I••• | term loan lien unstated | $1.7M | $1.7M 102c | S+675 bp | Feb 1, 2027 |
| D•• E••••••••• L•• D•• H•••••• C•••••• | equity equity | $5.3M | $1.6M 31c | S+1200 bp | Sep 3, 2026 |
| K••••••••• H•••••••• I••• | term loan lien unstated | $1.5M | $1.5M 101c | S+675 bp | Dec 24, 2025 |
| I•••••••• M•••• B••••• L•• | delayed draw term loan lien unstated | $1.5M | $1.5M 101c | S+575 bp | May 1, 2028 |
| C••• V••••• I••• C• T•••• L•• U•••• | unstated lien unstated | Not disclosed | $1.3M 145c | ||
| A••••••••• A••••••••• L•• | revolver lien unstated | $3.4M | $1.3M 39c | S+0 bp | Nov 6, 2028 |
| B•• B••••• I••• B• P••••••• P•••••• L••• | equity equity | Not disclosed | $1.3M 134c | ||
| E•• B••••• I••• E•• G•••• H•••••••• L••• | equity equity | $1.4M | $1.2M 87c | S+800 bp PIK 2.00% | Jun 30, 2025 |
| I••••••••• B••• C•••••• L•• | term loan lien unstated | $1.1M | $1.1M 99c | S+650 bp | Dec 31, 2026 |
| I••••••••• O••••••• N••••••• L•• | term loan lien unstated | $1.1M | $1.1M 99c | S+600 bp | Jun 24, 2025 |
| G• H••• I••••••••• L•• H• G• A••••••••• L• | equity equity | Not disclosed | $1.1M 100c | ||
| G• H••• I••••••••• L•• | revolver lien unstated | $1.1M | $1.1M 100c | Nov 30, 2028 | |
| E••••• N••••••• L•• | delayed draw term loan lien unstated | Not disclosed | $1.0M 118c | S+675 bp | May 22, 2028 |
| I••••••••• B••• C•••••• L•• W•••••• P••••• H•••••• L•• | equity equity | Not disclosed | $998,057 77c | ||
| M•• E••••••••• L•• M••••• S•• H••••••• | equity equity | Not disclosed | $990,813 106c | ||
| E••••••••• A••••••••• I••• K•• H••••••• L• | equity equity | $991,799 | $971,963 99c | S+675 bp PIK 1.00% | Feb 8, 2024 |
| N•••••• L•• G•••• N••••• B•••••• L•• | preferred equity equity | Not disclosed | $915,014 115c | ||
| I•••••• B••••• L•• I•••••• H•••••••• L•• | preferred equity equity | $739,844 | $908,651 116c | ||
| I••••••••• L••• C••••• C••••••••• H••••••• | equity equity | $804,384 | $900,834 112c |
Page 1 of 3Next
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