DFX Intelligence

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T••••••••• V•••••• G••••• B•• C••••

Business development companymanaged by T••••••••• A••••••• L••Listed: TPVG· MENLO PARK, CA

A business development company traded as TPVG, managed by T••••••••• A••••••• L••, holding $781M across 137 borrowers at Jun 30, 2026.

Composed from this BDC's filings and its latest schedule of investments.

As of 2026-06-30 · the latest schedule of investments read for this BDC

Fair value: $781M
Borrowers: 137
Mark on cost: 88.2¢

Schedule of investments (340)Quarter by quarter Sponsors

As of 2026-06-30 · the latest schedule of investments read for this BDC

What matters now

$10M
on non-accrual, 1 borrower
1 borrower on non-accrual, $10M principal; the largest is F•••••• I•• ($10M).
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 F•••••• I•• →
15 below 80¢
$134M principal
15 positions across 7 borrowers marked below 80¢ on cost, $134M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026
89.5¢ → 88.2¢
book mark on cost
Marked its book down from 89.5¢ to 88.2¢ on the dollar in the quarter to Jun 30, 2026.
Q2 2026 · The whole portfolio was marked down; net asset value follows.
Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →

Every headline figure, and the identifiersCIK 1580345 · file 814-01044Show

Fair value

$781M

as of Jun 30, 2026

Principal held

$730M

debt pieces, the filer's figure

Cost

$831M

88c on cost, debt pieces

Unfunded

$141M

commitments not yet drawn

Positions

340

137 borrowers

First lien

not established

82% debt by fair value

Quarters on the tape

since Dec 31, 2021

Facilities held

246

15 sponsors financed

Portfolio through time

Fair value by quarter end$781M as of Jun 30, 2026

Dec 31, 2024$1.4B then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$781M	137	88c	20	430 bp
Mar 31, 2026	$786M	135	89c	20	408 bp
Dec 31, 2025	$1.6B	138	90c	47	426 bp
Sep 30, 2025	$798M	128	90c	18	451 bp

All 18 quarters

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2025	$718M	120	89c	20	483 bp
Mar 31, 2025	Not disclosed	18	n/a	0	n/a
Dec 31, 2024	$1.4B	131	89c	30	543 bp
Sep 30, 2024	Not disclosed	20	n/a	0	n/a
Jun 30, 2024	Not disclosed	17	n/a	0	n/a
Mar 31, 2024	Not disclosed	14	n/a	0	n/a
Dec 31, 2023	Not disclosed	50	n/a	0	n/a
Sep 30, 2023	Not disclosed	39	n/a	0	n/a
Jun 30, 2023	Not disclosed	40	n/a	0	n/a
Mar 31, 2023	Not disclosed	38	n/a	0	n/a
Dec 31, 2022	Not disclosed	51	n/a	0	n/a
Sep 30, 2022	Not disclosed	48	n/a	0	n/a
Dec 31, 2021	Not disclosed	56	n/a	0	n/a
Sep 30, 2021	Not disclosed	1	n/a	0	n/a

Sponsors financed

No borrower on this schedule has a sponsor attribution yet.

What changed

New lender joined a facilityJun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Marked down (one lender)Jun 30, 2026
••• Locked
Spread increasedJun 30, 2026
••• Locked

Full timeline · 20 events

Spread increasedJun 30, 2026
••• Locked
New borrower on a BDC scheduleJun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked
Maturity shortened (observed)Jun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked
Maturity extended (observed)Jun 30, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked
Marked down (one lender)Mar 31, 2026
••• Locked
Spread increasedMar 31, 2026
••• Locked
Maturity extended (observed)Mar 31, 2026
••• Locked
Maturity extended (observed)Mar 31, 2026
••• Locked

Every position change, including routine ones

Largest facilities held, with co-lenders

P•••••• I••••••••• L•••••• term loan
1 BDC hold it · matures Jun 30, 2027
$43.9M 86c
F•••• B•••••• L•• term loan
2 BDCs hold it · matures May 1, 2027
$40.1M 88c
L••••••• R••• L•••••• term loan
1 BDC hold it · matures Aug 31, 2026
$35.5M 17c
O••••••••• G••• term loan
1 BDC hold it · matures Jan 1, 2030 · possible sponsor N•••••••• M••••••••• I• L••••••
$31.5M 74c
B••••• I•• term loan
1 BDC hold it · matures May 1, 2029
$31.0M 100c
F•••• S• term loan
2 BDCs hold it · matures Aug 31, 2028
$29.9M 100c
M••• C•••• L•••••• term loan
1 BDC hold it · matures Dec 31, 2025
$29.5M 50c
T••••••• I•• term loan
2 BDCs hold it · matures Mar 31, 2027
$28.0M 84c
P••••••• I•• term loan
2 BDCs hold it · matures Aug 23, 2031
$26.8M 100c
I••••• T••••••••• I•• term loan
2 BDCs hold it · matures May 1, 2030
$23.0M 100c
T•••• E•••••• I•• term loan
2 BDCs hold it · matures Sep 1, 2029
$22.5M 100c
H•••• I•• term loan
2 BDCs hold it · matures Aug 31, 2030
$21.6M 100c

Schedule of investments at Sep 30, 2025

333 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
P•••••• I••••••••• L••••••	unstated lien unstated	$40.8M	$39.9M 98c	PIK 14.28%	Dec 31, 2025
O••••••••• G•••	unstated lien unstated	$29.6M	$27.7M 84c	PIK 11.00%	Jan 1, 2030
R•••••• L••	equity equity	Not disclosed	$27.5M 10508c
P••••••• I•••	term loan lien unstated	$26.3M	$25.9M 100c	S+740 bp	Aug 23, 2031
T••••• M••••••• I•••	unstated lien unstated	$24.3M	$24.5M 98c	S+475 bp	Jun 12, 2027
B••••• I•••	unstated lien unstated	$22.0M	$22.1M 100c	S+315 bp	Jan 1, 2029
T•••• E••••• I•••	unstated lien unstated	$22.5M	$21.9M 100c	S+215 bp	Sep 1, 2029
T••••• M••••••• I•••	unstated lien unstated	$20.0M	$21.1M 100c	S+600 bp	Dec 31, 2025
P•••••• I••••••••• L••••••	equity equity	Not disclosed	$21.1M 93c
F••••••••• I•••	unstated lien unstated	$20.7M	$20.4M 100c	S+175 bp PIK 2.50%	May 31, 2027
T••••••• I•••	unstated lien unstated	$19.5M	$20.2M 95c	S+775 bp	Mar 31, 2027
P•••• L•••• L••	unstated lien unstated	$19.5M	$19.4M 100c	S+350 bp	Dec 1, 2028
M•••••• I•••	unstated lien unstated	$17.9M	$18.1M 101c	S+425 bp	Jun 1, 2029
H•••• I•••	unstated lien unstated	$16.0M	$16.1M 100c	S+300 bp	Mar 31, 2029
F•••• B•••••• L••	unstated lien unstated	$17.1M	$15.9M 90c	PIK 12.00%	May 1, 2027
H•••••• I•••	unstated lien unstated	$16.7M	$15.5M 92c	S+350 bp	Dec 1, 2027
M••• O•••••••• I•••	unstated lien unstated	$14.7M	$14.7M 100c	S+650 bp	Aug 1, 2026
G••••••••• I•••	equity equity	Not disclosed	$13.5M 173c
K•••••••• I•••	unstated lien unstated	$13.0M	$13.0M 100c	S+375 bp	Jan 1, 2028
F•••• B•••••• L••	unstated lien unstated	$13.7M	$12.7M 89c	PIK 12.00%	May 1, 2027
B•••••• T••••••••• L•••• I•••	unstated lien unstated	$11.3M	$11.2M 100c	S+325 bp	Aug 1, 2029
M••• O•••••••• I•••	unstated lien unstated	$11.0M	$11.0M 94c	S+400 bp	Dec 31, 2025
R•••• L•••• I•••	unstated lien unstated	$11.0M	$10.9M 100c	S+215 bp	Sep 1, 2028
F•••• S•	unstated lien unstated	$14.7M	$10.9M 72c	9.75%	Aug 31, 2028
F•••• S•	unstated lien unstated	$14.7M	$10.9M 72c	9.75%	Aug 31, 2028
J•••• S•••••••• I•••	unstated lien unstated	$10.0M	$10.8M 100c	10.00%	Sep 30, 2025
J•••• S•••••••• I•••	unstated lien unstated	$10.0M	$10.6M 100c	13.75%	Jun 30, 2026
T••••••••• I•••	unstated lien unstated	$10.0M	$10.0M 100c	S+325 bp	Jul 1, 2028
L••••••• R••• L••••••	unstated lien unstated	$35.5M	$10.0M 34c		Aug 31, 2026
M•••••• I•••	unstated lien unstated	$9.5M	$9.6M 101c	S+250 bp	Dec 30, 2027
F••••••••• I•••	unstated lien unstated	$10.2M	$9.6M 100c	S+700 bp	Jul 30, 2027
M••• C•••• L••••••	unstated lien unstated	$25.5M	$9.6M 45c	PIK 12.00%	Dec 31, 2025
S•••••• I•••	unstated lien unstated	$9.4M	$9.3M 100c	S+150 bp	Apr 1, 2026
Q•••• C••••••• L••	unstated lien unstated	$11.8M	$9.3M 90c	PIK 6.00%	Dec 31, 2028
B••••• I•••	unstated lien unstated	$9.0M	$9.0M 100c	S+225 bp	Jan 1, 2029
F•••• I•••	unstated lien unstated	$8.9M	$8.8M 100c	S+400 bp	Aug 1, 2027
H•••••• I•••	unstated lien unstated	$9.4M	$8.8M 94c	S+200 bp	Dec 31, 2026
Q•••• C••••••• L••	equity equity	Not disclosed	$8.7M 109c
H•••••••• I•••	unstated lien unstated	$7.6M	$8.3M 99c	S+650 bp	Jun 30, 2026
R•••••• L••	warrants equity	Not disclosed	$7.8M 2396c
A•••••• P••••• I•••	unstated lien unstated	$7.0M	$7.3M 100c	11.75%	Dec 31, 2026
O••••••• I•••	unstated lien unstated	$7.1M	$7.2M 100c	S+250 bp	Feb 1, 2028
M•••• B••• L••••••	unstated lien unstated	$7.0M	$6.9M 99c	12.00%	Mar 8, 2026
R•••••• L••	warrants equity	Not disclosed	$6.4M 16007c
P••••••• E••••••••• I•••	unstated lien unstated	$6.0M	$6.2M 100c	S+200 bp	Jan 1, 2027
T••••••• I•••	unstated lien unstated	$5.5M	$5.7M 98c	S+775 bp	Mar 31, 2027
B••••• M••••••••• I•••	unstated lien unstated	$5.6M	$5.6M 100c	S+325 bp	Sep 30, 2027
N•••••• O•• W•••• A•	unstated lien unstated	$6.6M	$5.5M 92c	S+825 bp	Dec 31, 2026
O••••••••• G•••	unstated lien unstated	$4.6M	$4.6M 94c	PIK 9.00%	Jan 1, 2030
E••••••••• I•••	unstated lien unstated	$4.5M	$4.5M 100c	S+400 bp	Apr 30, 2028
A•• H•••••••• I•••	unstated lien unstated	$4.0M	$4.0M 100c	S+100 bp	Dec 1, 2027
P••••••• E••••••••• I•••	unstated lien unstated	$4.0M	$4.0M 100c	S+175 bp	Sep 1, 2028
F••••••••• I•••	unstated lien unstated	$4.0M	$3.7M 100c	PIK 9.00%	Apr 25, 2029
N•••••• O•• W•••• A•	unstated lien unstated	$3.7M	$3.3M 99c	S+825 bp	Dec 31, 2026
F•••• B•••••• L••	unstated lien unstated	$3.5M	$3.3M 93c	S+575 bp PIK 5.75%	May 1, 2027
S••••• X• I•••	unstated lien unstated	$3.8M	$3.2M 100c	S+825 bp	Jun 26, 2028
T••••••• I•••	unstated lien unstated	$3.0M	$3.1M 98c	S+775 bp	Mar 31, 2027
F•••••• I••••	unstated lien unstated	$8.0M	$3.1M 38c	S+800 bp	Oct 31, 2026
J••• S•• r•••	unstated lien unstated	$3.0M	$2.9M 88c	8.70% PIK 5.80%	Dec 31, 2026
O••••••• I•••	unstated lien unstated	$2.9M	$2.8M 100c	S+250 bp	Oct 1, 2028
A•••••• P••••• I•••	unstated lien unstated	$2.9M	$2.8M 100c	11.75%	Nov 30, 2026
O••••••••• G•••	unstated lien unstated	$2.6M	$2.7M 96c	PIK 9.00%	Jan 1, 2030
N••••••• I•••	unstated lien unstated	$2.5M	$2.6M 100c	S+400 bp	Jan 31, 2027
M•••••• I•••	unstated lien unstated	$2.4M	$2.4M 101c	S+200 bp	Dec 30, 2027
K• H•••••• I•••	unstated lien unstated	$2.1M	$2.3M 100c	S+225 bp	Jul 31, 2026
M••• S••••• I•••	unstated lien unstated	$2.1M	$2.2M 103c	S+0 bp	Nov 1, 2027
M•••• B••• L•••••• 1•	equity equity	Not disclosed	$2.1M 210c
F•••• B•••••• L••	unstated lien unstated	$2.4M	$2.1M 87c	PIK 12.00%	May 1, 2027
M••• S••••• I•••	unstated lien unstated	$2.0M	$2.0M 100c	S+0 bp	Feb 1, 2028
H•••• I•••	unstated lien unstated	$2.0M	$1.9M 100c	S+300 bp	Mar 31, 2030
T••••• M••••••• I•••	unstated lien unstated	$1.8M	$1.8M 98c	S+475 bp	Jun 12, 2027
S••••• X• I•••	unstated lien unstated	$2.0M	$1.7M 100c	S+825 bp	Jun 26, 2028
A••••••••• I••• ••••• E••••••	warrants equity	Not disclosed	$1.7M 461c
N•• G•••	equity equity	Not disclosed	$1.6M 125c
W••••••••• G•••• L••••••	warrants equity	Not disclosed	$1.5M 401c
P••••••• E••••••••• I•••	unstated lien unstated	$1.5M	$1.5M 100c	S+175 bp	Feb 1, 2029
T••• F•••••• I•••	unstated lien unstated	$1.4M	$1.5M 99c	14.00%	Nov 30, 2025
B••••••• C••••••• I•••	warrants equity	Not disclosed	$1.4M 392c
O••••••••• G•••	warrants equity	Not disclosed	$1.4M 76c
F••••••••• I•••	warrants equity	Not disclosed	$1.2M 150c
T••• F•••••• I•••	unstated lien unstated	$1.1M	$1.2M 99c	14.00%	Nov 30, 2025
Q••• N••• I•••	warrants equity	Not disclosed	$1.2M 257c
M• M•••• L••••••	unstated lien unstated	$4.2M	$1.1M 42c		Dec 31, 2028
F•••••• I••••	unstated lien unstated	$2.9M	$1.1M 35c	S+800 bp	Oct 31, 2026
J••• S•• r•••	unstated lien unstated	$1.2M	$1.1M 92c	10.95% PIK 7.30%	Dec 31, 2026
D•••• R•• O••• I•••	unstated lien unstated	$1.0M	$1.1M 100c	S+875 bp	Oct 31, 2025
I••••••• A••••••• I••• ••••• T••••• E• M••••••• I••••	unstated lien unstated	$1.1M	$1.1M 100c	S+550 bp	Feb 28, 2027
F•••• I•••	unstated lien unstated	$1.1M	$1.1M 100c	S+400 bp	Sep 1, 2027
I••••••• A••••••• I••• ••••• T••••• E• M••••••• I••••	unstated lien unstated	$1.1M	$1.1M 100c	S+575 bp	May 31, 2027
M••••• I•••	warrants equity	Not disclosed	$1.1M 272c
T•••••••• M•••• G••••• I•••	warrants equity	Not disclosed	$1.1M 175c
O••• C•••• ••••• G••••• C•••••	warrants equity	Not disclosed	$1.1M 276c
T••• F•••••• I•••	unstated lien unstated	$990,000	$1.1M 99c	14.00%	Nov 30, 2025
M••••••••• T••••••••• I•••	warrants equity	Not disclosed	$1.0M 1194c
O••••••• S•••••• I•••	equity equity	Not disclosed	$1.0M 100c
F•••• I•••	unstated lien unstated	$1.0M	$989,000 100c	S+400 bp	Dec 1, 2027
C••••••• G•••••• I•••	equity equity	Not disclosed	$925,000 231c
O••• C•••• ••••• G••••• C•••••	equity equity	Not disclosed	$903,000 145c
Q•••• C••••••• L••	unstated lien unstated	$1.1M	$886,000 90c	PIK 6.00%	Dec 31, 2028
F•••••••• I•••	warrants equity	Not disclosed	$882,000 2321c

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Registration

Fiscal year end: 1231reported
Incorporated: MDreported
On the SEC BDC report: 2015 to 2026reported
Filings listed: 19reported10-Q and 10-K since 2022
Latest schedule: 0001580345-26-000025reported

Not yet on record: first lien.