DFX Intelligence
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S••••• P•••• S•••••••• L•••••• F•••
Business development companymanaged by S••••• P•••• S•••••••• C••••• F••• M••••••••• L••Non-traded· GREENWICH, CT
A non-traded business development company, managed by S••••• P•••• S•••••••• C••••• F••• M••••••••• L••, holding $1.1B across 110 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
- $1.1B
- Borrowers
- 110
- Mark on cost
- 96.9¢
- First lien
- 94%
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
- 12 below 80¢$70.8M principal
12 positions across 9 borrowers marked below 80¢ on cost, $70.8M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - $979M → $1.2Bfair value, 4 quarters
Its portfolio grew 23% at fair value over the last four quarters.
Q2 2026 · A fast-growing book is deploying new capital.
Every headline figure, and the identifiersCIK 1646614 · file 814-01169ShowHide
Fair value
$1.1B
as of Jun 30, 2026
Principal held
$1.3B
debt pieces, the filer's figure
Cost
$1.2B
97c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
214
110 borrowers
First lien
94%
98% debt by fair value
Quarters on the tape
15
since Dec 31, 2021
Facilities held
181
19 sponsors financed
Portfolio through time
Fair value by quarter end$1.2B as of Jun 30, 2026
Dec 31, 2021$100M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $1.2B | 110 | 97c | 22 | 631 bp |
| Mar 31, 2026 | $1.2B | 109 | 98c | 22 | 627 bp |
| Dec 31, 2025 | $1.9B | 185 | 98c | 0 | 621 bp |
| Sep 30, 2025 | $1.1B | 116 | 99c | 0 | 623 bp |
All 15 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $979M | 109 | 99c | 0 | 617 bp |
| Mar 31, 2025 | $4.7B | 103 | 98c | 0 | 675 bp |
| Dec 31, 2024 | $5.2B | 105 | 98c | 0 | 676 bp |
| Sep 30, 2024 | $4.7B | 105 | 99c | 12 | 667 bp |
| Jun 30, 2024 | $4.8B | 107 | 99c | 12 | 689 bp |
| Mar 31, 2024 | $4.8B | 98 | 99c | 11 | 697 bp |
| Dec 31, 2023 | $5.1B | 102 | 99c | 12 | 720 bp |
| Sep 30, 2023 | $6.3B | 13 | 99c | 8 | 740 bp |
| Jun 30, 2023 | $6.1B | 10 | 98c | 7 | 730 bp |
| Dec 31, 2022 | $7.3B | 72 | 97c | 6 | 697 bp |
| Dec 31, 2021 | $100M | 4 | n/a | 0 | n/a |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 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
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
- PIK interest increasedJun 30, 2026
- Spread increasedJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Lender left a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
Largest facilities held, with co-lenders
- P•••••• P•••• B••••••• L•• first lien term loan1 BDC hold it · matures Aug 29, 2030 · possible sponsor A•••• H••••••• L••$28.0M 106c
- H••• P••••• H••••••• L•• first lien term loan1 BDC hold it · matures Jun 1, 2032$22.7M 100c
- 1•••••• B• L•• first lien term loan3 BDCs hold it · matures Oct 8, 2030$22.4M 97c
- P•••••• I••••••••• I•• first lien term loan2 BDCs hold it · matures May 30, 2029$21.9M 99c
- I•••••• I•• first lien term loan2 BDCs hold it · matures Nov 5, 2026 · possible sponsor E•• C••••••• L••$21.5M 70c
- C••••• G••••••• I•• first lien term loan1 BDC hold it · matures Mar 31, 2029 · possible sponsor H••••• C••••••• L••$21.2M 86c
- P•••• • P•••••••• I••••••••• H•••••• C••• first lien term loan1 BDC hold it · matures Jun 30, 2029$20.5M 99c
- J•••••• I••••••••• I•• L•• first lien term loan2 BDCs hold it · matures Dec 16, 2030$20.5M 102c
- V•••••• S•••••••• C•••••••• I•• first lien term loan2 BDCs hold it · matures Aug 29, 2029 · possible sponsor H••••• C••••••• L••$20.3M 97c
- L•• A••••••••• L•• first lien term loan1 BDC hold it · matures Jul 23, 2027$20.2M 88c
- G•••••• C•••••• • E••••••••• L•• first lien term loan1 BDC hold it · matures Dec 18, 2030$20.1M 99c
- A••••••• H••••••• I•• first lien term loan1 BDC hold it · matures Jun 30, 2027 · possible sponsor G•••••• A••••••• I• L•••••$19.9M 117c
Schedule of investments at Mar 31, 2026
211 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| C•••• H••••••• L•• S••••••• & S••••••s R••• S+5.25%, 0.75% F•••• (1.00% on unfunded) | delayed draw term loan first lien | $924,210 | -$31,146 335c | //fasb.org/+525 bp | Feb 27, 2030 |
| A•••••• I••••••••• H••••••• I•• S••••••• & S••••••s R••• S+6.00%, 0.75% F•••• (0.50% on unfunded) | revolver first lien | $770,731 | -$34,283 418c | //fasb.org/+600 bp | Mar 19, 2031 |
| L•• A••••••••• L•• d•••• L••••••••• A••••• C••••• H••••••••• P•••••••• & S••••••s R••• S+11.15%, 3.00% F•••• (0.50% on unfunded) | revolver first lien | $500,000 | -$34,952 | //fasb.org/+1115 bp | Jul 23, 2027 |
| G•••• B•••• L•• ••• A••••••• T••••••••• H••••••• & E•••••••• R••• S+5.50%, 1.00% F•••• (0.50% on unfunded) | revolver first lien | $2.1M | -$38,378 106c | //fasb.org/+550 bp | Aug 12, 2030 |
| M••••• U• H••••••• S••••••• & S••••••s R••• S+6.00%, 1.00% F•••• (0.50% on unfunded) | revolver first lien | $995,726 | -$39,829 273c | //fasb.org/+600 bp | May 17, 2030 |
| W••••••• T••••• L•• S••••••• & S••••••s R••• S+5.75%, 1.00% F•••• (0.50% on unfunded) | revolver first lien | $1.5M | -$54,872 241c | //fasb.org/+575 bp | Sep 20, 2029 |
| D••••••••• I•• S••••••• & S••••••s R••• S+4.50% (1.00% on unfunded) | delayed draw term loan first lien | $13.7M | -$68,582 | //fasb.org/+450 bp | Jan 5, 2032 |
| M•••••• B•••• L•• T••••••••• R••• S+5.75%, 1.00% F•••• (0.50% on unfunded) | revolver first lien | $2.0M | -$113,531 600c | //fasb.org/+575 bp | May 31, 2029 |
| T••••••••• 2• L•• S••••••• & S••••••s R••• S+6.25%, 1.00% F•••• (2.00% on unfunded) | revolver first lien | $425,843 | Not disclosed n/a | //fasb.org/+625 bp | Jun 7, 2028 |
| P•••••• P•••• B••••••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| G••• I••••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed |
Page 3 of 3Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2018 to 2022reported
- Filings listed
- 13reported10-Q and 10-K since 2022
- Former names
- S••••• P•••• S•••••••• C••••• F•••, L.P.reported
- Latest schedule
- 0001193125-26-337440reported