DFX Intelligence
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N••••••• C••••••• I•••
A non-traded business development company, managed by N••••••• A•••••••• L•••, holding $76.7M across 15 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
- $76.7M
- Borrowers
- 15
- Mark on cost
- 100.1¢
- First lien
- 6%
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
- 98.4¢ → 100.1¢book mark on cost
Marked its book up from 98.4¢ to 100.1¢ on the dollar in the quarter to Jun 30, 2026.
Q2 2026 · The whole portfolio was marked up.
- $16.1M → $114Mfair value, 4 quarters
Its portfolio grew 606% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 1588272 · file 814-01074ShowHide
Fair value
$76.7M
as of Jun 30, 2026
Principal held
$4.9M
debt pieces, the filer's figure
Cost
$66.7M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
25
15 borrowers
First lien
6%
6% debt by fair value
Quarters on the tape
13
since Dec 31, 2022
Facilities held
16
0 sponsors financed
Portfolio through time
Fair value by quarter end$114M as of Jun 30, 2026
Dec 31, 2022$261M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $114M | 15 | 100c | 0 | n/a |
| Mar 31, 2026 | $109M | 15 | 98c | 0 | n/a |
| Dec 31, 2025 | $125M | 17 | 89c | 0 | 750 bp |
| Sep 30, 2025 | $16.8M | 8 | 89c | 0 | 750 bp |
All 13 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $16.1M | 8 | 87c | 0 | 750 bp |
| Mar 31, 2025 | $193M | 20 | 98c | 0 | 600 bp |
| Dec 31, 2024 | $221M | 20 | 100c | 0 | 642 bp |
| Sep 30, 2024 | $224M | 23 | 115c | 0 | 712 bp |
| Jun 30, 2024 | $211M | 22 | 93c | 0 | 750 bp |
| Mar 31, 2024 | $219M | 24 | 83c | 0 | 600 bp |
| Dec 31, 2023 | $237M | 27 | 82c | 0 | 439 bp |
| Sep 30, 2023 | $226M | 28 | 80c | 0 | 525 bp |
| Dec 31, 2022 | $261M | 33 | 79c | 0 | 508 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Mar 31, 2026
- Lender left a facilityDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Marked down (one lender)Jun 30, 2025
Full timeline · 20 eventsShow fewer
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Maturity shortened (observed)Mar 31, 2025
- Marked down (one lender)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilityJun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Maturity extended (observed)Jun 30, 2024
- Maturity extended (observed)Mar 31, 2024
- New borrower on a BDC scheduleMar 31, 2024
- New borrower on a BDC scheduleDec 31, 2023
- New borrower on a BDC scheduleDec 31, 2023
- Marked down (one lender)Dec 31, 2023
Largest facilities held, with co-lenders
- C•• M••••••• I•• first lien term loan1 BDC hold it · matures Apr 7, 2027$3.0M 101c
- S••••••• T••••••••• I•• preferred equity1 BDC hold it$2.7M 106c
- M•••••• W•••••••• I•• first lien term loan1 BDC hold it · matures Dec 31, 2028$1.6M 101c
- i••••••••• I•• notes1 BDC hold it · matures May 1, 2030$282,225 91c
- A•••••• I•• preferred equity1 BDC hold it$182,187 160c
- U••••• F••••••• B••• F•• preferred equity1 BDC hold it$1,000 50c
- 7•• P••••••• L•• preferred equity1 BDC hold it$750 n/a
- S• T•••••• C• T• 1• C••• L•• equity1 BDC hold itNot disclosed 157c
- N••••••• R••• E••••• F•••••• I•• equity1 BDC hold itNot disclosed 92c
- M•••••• W•••••••• I•• equity1 BDC hold itNot disclosed 357c
- A••••• • L••••••••• n•• other1 BDC hold itNot disclosed n/a
- N••••••• R••••••••• T•••• I•• equity1 BDC hold itNot disclosed 102c
Schedule of investments at Dec 31, 2023
56 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| N•• A••••• | unstated lien unstated | Not disclosed | $49.8M | ||
| W••••••• • T•••• I••••••••• | warrants equity | Not disclosed | $49.4M 107c | ||
| C••••• S••••• | equity equity | Not disclosed | $16.0M | ||
| P•••••••• S••••• | preferred equity equity | Not disclosed | $11.8M | ||
| P•••••••• S••••• • H••••••••• H••••••••• | preferred equity equity | Not disclosed | $10.6M | ||
| L•• I•••••••• | unstated lien unstated | Not disclosed | $10.4M | ||
| S••••• S•••••• L•••• | term loan first lien | Not disclosed | $10.3M | ||
| L•• I•••••••• • R••• E••••• Real Estate | unstated lien unstated | Not disclosed | $7.4M | ||
| N••••••• C•••••• R••• L•• Real Estate | unstated lien unstated | Not disclosed | $7.0M 83c | ||
| S••••• S•••••• L•••• • H••••••••• H••••••••• | term loan first lien | Not disclosed | $6.6M | ||
| M•••••• W•••••••• I••• ••• T•••••••• C••••• T••••••••• Services | equity equity | Not disclosed | $4.7M 296c | ||
| M•••••• W•••••••• I••• T••••••••• Services | equity equity | Not disclosed | $4.7M 296c | ||
| C••••• S••••• • R••• E••••• Real Estate | equity equity | Not disclosed | $4.6M | ||
| S••••••• T••••••••• I••• H••••••••• | preferred equity equity | $1.9M | $4.5M 109c | ||
| S••••••• T••••••••• I••• H••••••••• | preferred equity equity | $1.3M | $3.6M 90c | ||
| A••••••• B••••••• C•••• F••••••••• | equity equity | Not disclosed | $3.5M 171c | ||
| U• G••••• L•• C••••••• P••••••• | unstated lien unstated | Not disclosed | $3.0M 177c | ||
| C•• M••••••• I•• H••••••••• | term loan first lien | $3.0M | $3.0M 102c | 11.00% | Apr 7, 2026 |
| I••• I••• Real Estate | equity equity | Not disclosed | $2.5M 169c | ||
| Q••••••••• E••••• I••• E••••• | equity equity | Not disclosed | $2.2M 143c | ||
| N••••••• R••• E••••• F•••••• I••• Real Estate | equity equity | Not disclosed | $2.1M 84c | ||
| P••••••••• I••• C••••••••• P••••••••• | term loan first lien | $2.0M | $2.0M 100c | 10.00% | Sep 20, 2026 |
| A•••••• I••• H••••••••• | preferred equity equity | $135,122 | $1.6M 137c | ||
| A•••• L••••••••• I•• S••••••• H••••••••• | term loan first lien | $1.5M | $1.4M 99c | S+375 bp | Feb 27, 2026 |
| A•••• L••••••••• I•• S••••••• H••••••••• | term loan first lien | $1.5M | $1.4M 99c | S+375 bp | Feb 27, 2026 |
| C••••••• S••••••• P•••••••• I••• H••••••••• | term loan first lien | $1.6M | $1.3M 78c | S+400 bp | Jul 1, 2026 |
| S••••• S•••••• L•••• • T••••••••• S••••••• T••••••••• Services | term loan first lien | Not disclosed | $1.2M | ||
| P•••••••• S••••• • F••••••••• F••••••••• | preferred equity equity | Not disclosed | $1.2M | ||
| T•••• I••••••••• • C••• E••••••••• | unstated lien unstated | Not disclosed | $1.2M | ||
| A•••••• I••• •••••• C••• H••••••••• | preferred equity equity | $72,065 | $928,197 116c | ||
| M•••••• W•••••••• I••• ••• T•••••••• C••••• T••••••••• Services | term loan first lien | $915,322 | $912,118 100c | 12.00% | Feb 28, 2024 |
| N••••••• R••••••••• T•••• I••• | equity equity | Not disclosed | $805,987 115c | ||
| C•••••••• B•••• | notes lien unstated | Not disclosed | $727,523 | ||
| 7•• P••••••• L•• F••••••••• | preferred equity equity | $750 | $686,250 92c | ||
| C••••••••• H•••••• I••• H••••••••• | term loan first lien | $658,467 | $514,635 89c | S+750 bp | Sep 30, 2027 |
| U••••• F••••••• B••• F•• F••••••••• | preferred equity equity | $1,000 | $500,000 50c | ||
| V•••• O••••••• I••• C••••••• D••••••••• | notes lien unstated | $500,000 | $488,665 101c | Mar 15, 2029 | |
| N••••••• C•••••• R•••• L•• Real Estate | term loan first lien | $463,314 | $463,314 100c | S+100 bp | Mar 25, 2025 |
| S•• W••• I•• L•• Real Estate | unstated lien unstated | Not disclosed | $338,973 91c | ||
| W••••••• | warrants equity | Not disclosed | $272,969 | ||
| W••••••• • E••••• E••••• | warrants equity | Not disclosed | $266,500 | ||
| C••••••• S••••••• P•••••••• I••• H••••••••• | delayed draw term loan first lien | $333,333 | $261,000 78c | S+400 bp | Jul 1, 2026 |
| M••••••••• | notes lien unstated | Not disclosed | $238,858 | ||
| M•••••• W•••••••• I••• ••• T•••••••• C••••• T••••••••• Services | term loan first lien | $216,696 | $215,938 100c | 12.00% | Feb 28, 2024 |
| i••••••••• I••• | notes lien unstated | $214,073 | $139,147 24c | May 1, 2027 | |
| Q••••••••• T•••••• E••••• | warrants equity | $5,738 | $133,888 830c | ||
| Q••••••••• T•••••• E••••• | warrants equity | $11,051 | $132,612 2563c | ||
| S•••• I•••••••• P••••••••• H••••••••• | term loan second lien | $1.6M | $127,556 9c | S+675 bp | Jun 26, 2026 |
| i••••••••• I••• | notes lien unstated | $116,808 | $99,711 32c | May 1, 2026 | |
| M•• H••••••• I••• C•••••••• | equity equity | Not disclosed | $42,500 250c | ||
| M•••••• W•••••••• I••• ••• T•••••••• C••••• T••••••••• Services | term loan first lien | $38,714 | $38,579 100c | 12.00% | Feb 28, 2024 |
| M•••••• W•••••••• I••• ••• T•••••••• C••••• T••••••••• Services | term loan first lien | $36,121 | $35,994 100c | 12.00% | Feb 28, 2024 |
| i••••••••• I••• | warrants equity | $2,875 | $6,469 12c | ||
| A••••••••• S•••••••• | unstated lien unstated | Not disclosed | $84 | ||
| G•••••• I••••••• C•••• F••••••••• | unstated lien unstated | $800 | $84 0c | ||
| A••••• • L••••••••• n•• | unstated lien unstated | Not disclosed | -$764,467 |
Page 1 of 1
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2015 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- N••••••• C••••••, LLCreported
- Latest schedule
- 0001193125-26-351830reported