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•••

Business development companymanaged by S•••••• C•••••• M••••••••• L••Listed: SCM· HOUSTON, TX

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.

Fair value
$973M
Schedule of investments, 10-Q and 10-K
Borrowers
124
Schedule of investments, 10-Q and 10-K
Mark on cost
96.3¢
Schedule of investments, 10-Q and 10-K
First lien
0%
Schedule of investments, 10-Q and 10-K
Schedule of investments (403)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $50.1M
    on 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••••••••• →
  2. $26.8M
    newly 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.

    FactBDC schedules of investments, 30 Jun 2026Open J••• W••••••• L•• →
  3. 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
  4. 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.

    Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →
  5. 28 → 33
    loans 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.

    Factthe schedule's PIK rates, quarter on quarterQuarter by quarter →
Every headline figure, and the identifiersCIK 1551901 · file 814-00971Show
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
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$973M12496c33608 bp
Mar 31, 2026$998M12395c28609 bp
Dec 31, 2025$1.4B13198c39608 bp
Sep 30, 2025$1.0B12698c34615 bp
All 17 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$991M12396c32623 bp
Mar 31, 2025$991M12097c27622 bp
Dec 31, 2024$1.4B12598c33627 bp
Sep 30, 2024$909M11597c24726 bp
Jun 30, 2024$900M10998c22720 bp
Mar 31, 2024$876M10598c21694 bp
Dec 31, 2023$923M10498c20712 bp
Sep 30, 2023$708M9097c6666 bp
Jun 30, 2023$867M10296c15669 bp
Mar 31, 2023$877M9697c14665 bp
Dec 31, 2022$850M9397c11667 bp
Sep 30, 2022Not disclosed97n/a5667 bp
Dec 31, 2021$772M8096c5677 bp
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, 2024
269 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
M•••••••• C••••• A••••••••• I••• M••••••••• I••••••••• L•equity equity$100,000$91,499
91c
S•••••• M•••• C••••••• L••revolver lien unstated$100,805$84,676
84c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+750 bp
PIK 5.00%
Feb 7, 2028
C••••• H•••••••• L••revolver lien unstated$85,000$84,150
99c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+675 bpDec 31, 2028
E••••• N••••••• L••revolver lien unstated$83,333$82,916
99c
//stelluscapital.com/20240331#One Month Secured Overnight Financing Rate+650 bpMay 22, 2028
L•••• L•••••• I•••revolver lien unstated$83,333$82,916
99c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+650 bpNov 9, 2027
I•••••• B••••• L••delayed draw term loan lien unstated$82,083$82,083
101c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+575 bpAug 15, 2028
S•••••• M•••• C••••••• L••delayed draw term loan lien unstated$96,028$80,664
85c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+750 bp
PIK 5.00%
Feb 7, 2028
I••••• H••• S••••••• L••revolver lien unstated$82,500$79,613
97c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+650 bpApr 28, 2028
R•• A••••••• B•••••••• L••• R•• A••••••• A•••••••••equity equityNot disclosed$78,390
100c
I••••• H••• S••••••• L••• I••••• H••••••• G•••••• L••equity equityNot disclosed$73,021
18c
C•••••• B••••• L•• C•••••• H••••••• P•••••••••equity equity$62,961$69,130
110c
A•• H•••••••• L••equity equity$375,000$66,584
18c
C••••••• C••• L•• C••••••• C••• H••••••• I•••preferred equity equity$111$65,854
59c
E••••• L••• S••••••••• L•• S• E•• H••••••• L••equity equityNot disclosed$64,693
6c
E• R••• E••••• S•••••••• L••revolver lien unstated$63,597$63,597
100c
S+1000 bpSep 3, 2026
A•••• O••• L••• O•••• C••••••••• L•equity equityNot disclosed$59,542
268c
E••••• N••••••• L••delayed draw term loan lien unstatedNot disclosed$59,402
100c
//stelluscapital.com/20240331#One Month Secured Overnight Financing Rate+650 bpMay 22, 2028
R•• A••••••• B•••••••• L••revolver lien unstated$58,686$58,686
100c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+650 bpAug 2, 2027
A••••• A••••••••• L•• A••••• H•••••••• I••• S••••• A•equity equityNot disclosed$56,802
73c
E• R••• E••••• S•••••••• L••term loan lien unstated$1.9M$56,467
3c
S+1000 bpSep 3, 2026
F•••••••• C•••••••••delayed draw term loan lien unstated$53,616$53,348
100c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+650 bpApr 29, 2028
H•••••••• B••••••• S••••••• L••delayed draw term loan lien unstated$49,500$49,500
101c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+625 bpAug 26, 2027
M•• E••••••••• L••revolver lien unstated$50,000$49,500
99c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+648 bpMay 19, 2026
E•••••• A•••••••• L••term loan lien unstated$58,938$44,204
75c
S+1500 bp
PIK 15.00%
Jan 31, 2026
F•••••••• C•••••••••revolver lien unstatedNot disclosed$43,116
99c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+650 bpApr 29, 2028
C•••••• 3•• A••••••••• L••revolver lien unstatedNot disclosed$41,042
99c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+650 bpAug 2, 2028
I•••••• B••••• L••revolver lien unstated$40,000$40,000
100c
//stelluscapital.com/20240331#One Month Secured Overnight Financing Rate+575 bpAug 15, 2028
A•• G•••• O•••• L•• P•••• A••••••••• L••equity equityNot disclosed$38,350
14c
N•••••• L••revolver lien unstated$33,333$33,333
100c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+650 bpOct 12, 2027
T••••••••• O••• A••••••••• L••revolver lien unstated$33,333$33,166
99c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+625 bpMar 1, 2028
C•••••• P••••••• I••••••••• L••revolver lien unstated$26,667$26,267
99c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+700 bpFeb 7, 2027
P•••• M•••• H•••••••• L••revolver lien unstated$23,333$22,983
98c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+625 bpAug 31, 2027
U••••• C••••••• H•••••••• L••• U••••• C•••••••equity equity$510$22,062
78c
M•••••••• C••••• A••••••••• I••revolver lien unstatedNot disclosed$20,000
100c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+600 bpSep 2, 2027
C•••••• P••••••• S•••••• S•••••••• L••revolver lien unstated$20,000$20,000
100c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+650 bpNov 22, 2027
E• R••• E••••• S•••••••• L••term loan lien unstated$650,943$19,528
3c
S+1000 bpSep 3, 2026
M•••••••• H••••••• L•• S••••••• A••••••••• S•• r••• C•••••••••notes lien unstated$12,241$13,014
98c
S+800 bp
PIK 8.00%
Mar 31, 2026
M•••••••• H••••••• L••• S••••••• A••••••••• S•• r•••equity equityNot disclosed$12,994
116c
M•••••••• H••••••• L••• S••••••• A••••••••• S•• r•••equity equityNot disclosed$12,994
116c
M•••••••• H••••••• L••• S••••••• A••••••••• S•• r•••equity equityNot disclosed$12,994
116c
M•••••••• H••••••• L••• S••••••• A••••••••• S•• r•••equity equityNot disclosed$12,994
116c
M•••••••• H••••••• L••• S••••••• A••••••••• S•• r•••equity equityNot disclosed$12,994
116c
M•••••••• H••••••• L••• S••••••• A••••••••• S•• r•••equity equityNot disclosed$12,994
116c
M•••••••• H••••••• L••• S••••••• A••••••••• S•• r•••equity equityNot disclosed$12,994
116c
M•••••••• H••••••• L••• S••••••• A••••••••• S•• r•••equity equityNot disclosed$12,994
116c
M•••••••• H••••••• L••• S••••••• A••••••••• S•• r•••equity equityNot disclosed$12,994
116c
E• R••• E••••• S•••••••• L••term loan lien unstated$230,678$6,920
3c
S+1000 bpSep 3, 2026
M•••••••• H••••••• L•• S••••••• A••••••••• S•• r••• C•••••••••notes lien unstated$5,532$5,880
99c
//stelluscapital.com/20240331#Three Month Term Secured Overnight Financing Rate+800 bp
PIK 8.00%
Dec 21, 2025
T•••• E•••••••• A••••••••• L••••• T•••• E•••••••• H•••••••• L•••••equity equity$662,660$2,048
0c
C••••••••• L•• C••••••••• H•••••••• I•••equity equityNot disclosed$3
60c
E• R••• E••••• S•••••••• L••• E• H•••••equity equityNot disclosed$3
100c
C••••••• C••• L•• C••••••• C••• H••••••• I•••equity equityNot disclosed$1
100c
E•••••• A•••••••• L•• S• E• H••••••• L••equity equity$1.0MNot disclosed
n/a
D•• H•••••• C••••••equity equity$723,684Not disclosed
n/a
V••••••• B••••• L•• V••••••• H•••••••• L••equity equity$101,113Not disclosed
n/a
S+1000 bp
PIK 10.00%
Dec 20, 2028
K•••••••• I••• K••••••• G•••• H•••••••preferred equity equity$4.0MNot disclosed
n/a
A•• G•••• O•••• L•• P•••• A••••••••• L••equity equityNot disclosedNot disclosed
n/a
V••••••• B••••• L•• V••••••• H•••••••• L•• C•••••••••term loan lien unstated$822,758Not disclosed
n/a
S+800 bpDec 20, 2028
A••••••• B•••••• E••••••••• L•• G• A•• H••••••• P•••••••••unstated lien unstatedNot disclosedNot disclosed
n/a
J••• W••••••• L•• J••• W•••••• H•••••••• I•••preferred equity equity$1,133Not disclosed
n/a
W••••• H••••••• L•equity equityNot disclosedNot disclosed
n/a
A••••••••• L••• A••••••••• I••••••••• H•••••equity equity$1,923Not disclosed
D•• H•••••• C••••••• L••equity equity$776,316Not disclosed
n/a
E•• F•••••• H•••••••• L••preferred equity equity$118Not disclosedMay 22, 2028
E• R••• E••••• S•••••••• L•• E• H•••••• L••preferred equity equity$7,892Not disclosed
n/a
A•• G•••• O•••• L•• P•••• A••••••••• L••equity equityNot disclosedNot disclosed
n/a
K•••••••• I•••term loan lien unstated$1.6MNot disclosed
n/a
Prime+650 bpJun 30, 2024
N••••••• F••••••••• L•• N••••••• H•••••••• I•••warrants equityNot disclosedNot disclosedNov 15, 2025
A••••••••• L••• A••••••••• I••••••••• H•••••preferred equity equity$16,037Not disclosed
Page 3 of 3Previous
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