DFX Intelligence

Private Credit Intelligence

The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.

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BDC portfolio

T••••••••• V•••••• G••••• B•• C••••

BDCTPVGCIK 1580345file 814-01044MENLO PARK, CAmanaged by T••••••••• A••••••• L••

Fair value

$765M

as of Jun 30, 2026

Principal held

$730M

debt pieces, the filer's figure

Cost

$815M

94c on cost

Unfunded

$141M

commitments not yet drawn

Positions

340

137 borrowers

First lien

n/a

83% debt by fair value

Quarters on the tape

since Dec 31, 2021

Facilities held

246

30 sponsors financed

Portfolio through time

Fair value by quarter end$765M as of Jun 30, 2026

Dec 31, 2024$1.3B then

Quarter	Fair value	Borrowers	On cost	PIK pos.	Avg spread
Jun 30, 2026	$765M	137	88c	19	422 bp
Mar 31, 2026	$786M	135	89c	20	397 bp
Dec 31, 2025	$1.6B	138	90c	47	420 bp
Sep 30, 2025	$798M	128	90c	18	454 bp
Jun 30, 2025	$718M	120	89c	20	479 bp
Mar 31, 2025	n/a	18	n/a	0	n/a
Dec 31, 2024	$1.3B	131	89c	29	549 bp
Sep 30, 2024	n/a	20	n/a	0	n/a
Jun 30, 2024	n/a	17	n/a	0	n/a
Mar 31, 2024	n/a	14	n/a	0	n/a
Dec 31, 2023	n/a	50	n/a	0	n/a
Sep 30, 2023	n/a	39	n/a	0	n/a
Jun 30, 2023	n/a	40	n/a	0	n/a
Mar 31, 2023	n/a	38	n/a	0	n/a
Dec 31, 2022	n/a	51	n/a	0	n/a
Sep 30, 2022	n/a	48	n/a	0	n/a
Dec 31, 2021	n/a	56	n/a	0	n/a
Sep 30, 2021	n/a	1	n/a	0	n/a

Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.

Sponsors financed

No borrower on this schedule has a sponsor attribution yet.

Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.

What changed

New lender joined a facilityJun 30, 2026
T••••••••• V•••••• G••••• B•• C•••• joins S•••••• I•• term loan (unknown) held by 1 other BDC
Marked down (one lender)Jun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: fair value markdown in J••• S•••••• (93 to 86 cents on cost)
Marked down (one lender)Jun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: fair value markdown in T••••••• I•• (97 to 84 cents on cost)
Marked down (one lender)Jun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: fair value markdown in L••••••• R••• L•••••• (33 to 17 cents on cost)
Spread increasedJun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: spread increased in P••••••• E••••••••• I•• (2.00% to 3.75%)
Spread increasedJun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: spread increased in P••••••• E••••••••• I•• (1.00% to 2.75%)
New borrower on a BDC scheduleJun 30, 2026
P••••••• T••••••••• I•• first appears in a BDC schedule (1 lender)
Maturity extended (observed)Jun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: maturity extended in M••• S••••• I•• (2028-08-01 to 2028-11-01)
Maturity extended (observed)Jun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: maturity extended in J••• S•••••• (2026-12-31 to 2028-01-01)
Maturity extended (observed)Jun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: maturity extended in J••• S•••••• (2026-06-30 to 2027-12-31)
Maturity extended (observed)Jun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: maturity extended in P••••••• E••••••••• I•• (2027-07-31 to 2028-08-31)
Maturity extended (observed)Jun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: maturity extended in S•••••• I•• (2029-12-01 to 2030-04-01)
Maturity shortened (observed)Jun 30, 2026
T••••••••• V•••••• G••••• B•• C••••: maturity shortened in P••••••• E••••••••• I•• (2029-02-01 to 2028-09-01)
Marked down (one lender)Mar 31, 2026
T••••••••• V•••••• G••••• B•• C••••: fair value markdown in O••••••••• G••• (95 to 88 cents on cost)
Marked down (one lender)Mar 31, 2026
T••••••••• V•••••• G••••• B•• C••••: fair value markdown in H•••••• I•• (86 to 80 cents on cost)
Marked down (one lender)Mar 31, 2026
T••••••••• V•••••• G••••• B•• C••••: fair value markdown in O••••••••• G••• (85 to 75 cents on cost)
Marked down (one lender)Mar 31, 2026
T••••••••• V•••••• G••••• B•• C••••: fair value markdown in F•••••• I•• (35 to 29 cents on cost)
Spread increasedMar 31, 2026
T••••••••• V•••••• G••••• B•• C••••: spread increased in A•• H••••••• I•• (1.00% to 2.25%)
Maturity extended (observed)Mar 31, 2026
T••••••••• V•••••• G••••• B•• C••••: maturity extended in H•••• I•• (2030-03-31 to 2030-08-31)
New borrower on a BDC scheduleMar 31, 2026
S•••••••• I•• first appears in a BDC schedule (2 lenders)

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 · 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 Jun 30, 2026

340 positions

Borrower	Instrument	Principal	Fair value	Rate	Maturity
F•••• Inc.	warrants equity	n/a	$96,000 59c
F••••••••• I••.	preferred equity equity	n/a	$93,000 10c
Ao1 Holdings, Inc.	preferred equity equity	n/a	$93,000 62c
S•••••• I••.	warrants equity	n/a	$88,000 31c
F•••••••• I••.	preferred equity equity	n/a	$86,000 74c
A••••••• G••••• I••••••••• I••.	warrants equity	n/a	$84,000 99c
S••••• A••••••• U••• I••.	revolver lien unstated	$83,000	$83,000 100c	S+175 bp	Sep 26, 2028
H••• A•••••••• I••.	term loan lien unstated	$83,000	$82,000 100c	S+300 bp	May 1, 2030
O••••••, Inc.	warrants equity	n/a	$81,000 84c
V•••• A••••••, Inc.	equity equity	n/a	$80,000 100c
C•••••••• I••.	equity equity	n/a	$73,000 18c
B••••• M••••••••• I••.	preferred equity equity	n/a	$72,000 49c
S•••••• I••.	preferred equity equity	n/a	$70,000 171c
R••••••••• I••.	warrants equity	n/a	$68,000 100c
S••••••• B•••• I••.	preferred equity equity	n/a	$66,000 600c
A•••••• P••••• I••.	preferred equity equity	n/a	$65,000 39c
P•••••• A•••••••• I••.	preferred equity equity	n/a	$62,000 138c
B••••• I••.	preferred equity equity	n/a	$62,000 107c
J••• S.à r.l.	preferred equity equity	n/a	$57,000 33c
U••••••• L••	warrants equity	n/a	$57,000 146c
N•••• I••. (f/k/a Varsity Tutors LLC)	equity equity	n/a	$56,000 22c
MXP	preferred equity equity	n/a	$52,000 104c
O••••••• S•••••• I••.	preferred equity equity	n/a	$51,000 73c
E•••• C•••••••••	preferred equity equity	n/a	$50,000 100c
B•••••• T••••••••• L•••• I••.	warrants equity	n/a	$49,000 100c
J••• S.à r.l.	preferred equity equity	n/a	$47,000 100c
S•••••• V•• I••.	warrants equity	n/a	$47,000 64c
S•••••• I••.	warrants equity	n/a	$45,000 66c
E•••• C•••••••••	preferred equity equity	n/a	$43,000 391c
B•••••• I••.	warrants equity	n/a	$42,000 183c
S••••••• B•••• I••.	preferred equity equity	n/a	$40,000 100c
U• C••••••• T••••••••• I••.	preferred equity equity	n/a	$40,000 75c
P••••••• E••••••••• I••.	preferred equity equity	n/a	$40,000 80c
G•••• C••••••••• I••.	equity equity	n/a	$39,000 8c
F•••••• I••.	term loan lien unstated	$105,000	$35,000 32c	S+625 bp	Jan 31, 2027
C•••••• C•••••••••	preferred equity equity	n/a	$34,000 8c
F••••••••• I••.	preferred equity equity	n/a	$33,000 24c
V••• H••••• T••••••••• I••.	preferred equity equity	n/a	$33,000 100c
L•••••• I••.	warrants equity	n/a	$33,000 27c
C•••••••• I••.	preferred equity equity	n/a	$33,000 132c
A•• I•••••• H•••••• I••.	preferred equity equity	n/a	$33,000 100c
B••••• H•••• I••.	preferred equity equity	n/a	$29,000 100c
B••••• I••.	warrants equity	n/a	$28,000 112c
S••••••, Inc.	term loan lien unstated	$28,000	$27,000 96c	S+300 bp	May 1, 2030
e••••••• G•••	preferred equity equity	n/a	$26,000 104c
I••••••••• I••.	equity equity	n/a	$26,000 9c
B••• G••••••••• I••.	warrants equity	n/a	$25,000 100c
P•••••••, Inc. Holdco. (fka.Printify, Inc.)	equity equity	n/a	$24,000 100c
F••••••• B••••••• N••••••• I••.	preferred equity equity	n/a	$24,000 73c
L•••• H•••••• C••••••	preferred equity equity	n/a	$24,000 13c
A•••••• P••••• I••.	preferred equity equity	n/a	$23,000 110c
D••••••• I••.	preferred equity equity	n/a	$23,000 23c
C••••• I••••••••• I••.	warrants equity	n/a	$23,000 288c
A•••••• P••••• I••.	preferred equity equity	n/a	$21,000 15c
C•••••••• I••.	preferred equity equity	n/a	$21,000 36c
E••••••• A•• I••.	warrants equity	n/a	$18,000 100c
A•• I•••••• H•••••• I••.	preferred equity equity	n/a	$17,000 100c
R•••• L•••• I••.	warrants equity	n/a	$17,000 113c
F•••• H•••••• I••.	preferred equity equity	n/a	$16,000 73c
B••••• H•••• I••.	preferred equity equity	n/a	$15,000 250c
V•••• A••••••, Inc.	warrants equity	n/a	$15,000 100c
F••••••• B••••••• N••••••• I••.	preferred equity equity	n/a	$13,000 46c
MXP	equity equity	n/a	$13,000 1c
D•••• R•• O••• I••.	preferred equity equity	n/a	$13,000 43c
F••••••• B••••••• N••••••• I••.	equity equity	n/a	$12,000 9c
J••• S.à r.l.	preferred equity equity	n/a	$11,000 32c
Ao1 Holdings, Inc.	preferred equity equity	n/a	$11,000 20c
T•••• I••••••••• I••.	preferred equity equity	n/a	$11,000 12c
P••• E••••••• I••.	preferred equity equity	n/a	$10,000 100c
B••••• I••.	preferred equity equity	n/a	$9,000 150c
Q•••• C••••••• L••	equity equity	n/a	$8,000 3c
S••••• X• I••.	preferred equity equity	n/a	$7,000 1c
P••• E••••••• I••.	warrants equity	n/a	$7,000 140c
S••••••• I••.	preferred equity equity	n/a	$6,000 100c
V••••••••• I••.	warrants equity	n/a	$5,000 100c
S••••• X• I••.	preferred equity equity	n/a	$5,000 1c
N••••••• I••.	preferred equity equity	n/a	$4,000 11c
A•••••• P••••• I••.	preferred equity equity	n/a	$4,000 2c
F•••• B•••••• L••	notes lien unstated	$2,000	$2,000 100c	PIK 12.00%	May 1, 2027
H••• A•••••••• I••.	warrants equity	n/a	$2,000 100c
P••• T•••, PBC	preferred equity equity	n/a	$2,000 100c
A•••••• P••••• I••.	preferred equity equity	n/a	$1,000 100c
J••• S.à r.l.	equity equity	n/a	$1,000 6c
P•••••• I••••••••• L••••••	warrants equity	n/a	$0 0c
O••• S•••• L•••• I••.	preferred equity equity	n/a	$0 0c
F•••••• I••.	preferred equity equity	n/a	$0 0c
M••• C••••, Inc.	preferred equity equity	n/a	$0 0c
H•••••• I••.	equity equity	n/a	$0 0c
G•••• C••••••••• I••.	warrants equity	n/a	$0 0c
H•••••• I••.	warrants equity	n/a	$0 0c
P•••••• 1•••• I••.	preferred equity equity	n/a	$0 0c
S••••• A••••••• U••• I••.	preferred equity equity	n/a	$0
M•••••• I••.	revolver lien unstated	$0	$0	S+250 bp	Dec 30, 2027
F•••• B••••• Holdings, Inc.	preferred equity equity	n/a	$0 0c
M••• O•••••••• I••.	preferred equity equity	n/a	$0 0c
R••• t•• R•••••• I••.	warrants equity	n/a	$0 0c
F••••, Inc.	warrants equity	n/a	$0
M••• C••••, Inc.	preferred equity equity	n/a	$0 0c
F•••••• I••.	preferred equity equity	n/a	$0 0c
T••••••• I••.	preferred equity equity	n/a	$0 0c

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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