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B••• C•••••• S•••••••• F••••••• I•••

Business development companymanaged by B••• A•••••••• L•Listed: B•••· BOSTON, MA

A business development company traded as B•••, managed by B••• A•••••••• L•, holding $2.4B across 243 borrowers at Jun 30, 2026.

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

Fair value
$2.4B
Schedule of investments, 10-Q and 10-K
Borrowers
243
Schedule of investments, 10-Q and 10-K
Mark on cost
95.6¢
Schedule of investments, 10-Q and 10-K
First lien
63%
Schedule of investments, 10-Q and 10-K
Schedule of investments (677)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $70.7M
    on non-accrual, 3 borrowers

    3 borrowers on non-accrual, $70.7M principal; the largest is S•••••• M••••• ($36.3M).

    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 S•••••• M••••• →
  2. $70.2M
    newly on non-accrual

    2 borrowers newly placed on non-accrual in Q2 2026, $70.2M principal: S•••••• M••••• ($36.3M), A• • R• L••••••••• I•• ($33.9M).

    Q2 2026 · The newest credit problems in the book.

    FactBDC schedules of investments, 30 Jun 2026Open S•••••• M••••• →
  3. 21 below 80¢
    $145M principal

    21 positions across 9 borrowers marked below 80¢ on cost, $145M principal.

    Q2 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 30 Jun 2026
Every headline figure, and the identifiersCIK 1655050 · file 814-01175Show
Fair value
$2.4B
as of Jun 30, 2026
Principal held
$2.2B
debt pieces, the filer's figure
Cost
$2.4B
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
677
243 borrowers
First lien
63%
85% debt by fair value
Quarters on the tape
17
since Dec 31, 2021
Facilities held
553
37 sponsors financed
Portfolio through time
Fair value by quarter end$2.4B as of Jun 30, 2026
Dec 31, 2021$2.9B then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$2.4B24396c78574 bp
Mar 31, 2026$2.5B24396c85573 bp
Dec 31, 2025$2.7B23398c103581 bp
Sep 30, 2025$2.5B22198c72585 bp
All 17 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$2.5B20798c74590 bp
Mar 31, 2025$2.5B19698c70585 bp
Dec 31, 2024$3.0B20997c85610 bp
Sep 30, 2024$2.4B18598c50616 bp
Jun 30, 2024$2.6B17499c44618 bp
Mar 31, 2024$2.8B17499c44636 bp
Dec 31, 2023$2.8B16198c63647 bp
Sep 30, 2023$2.5B16998c36639 bp
Jun 30, 2023$2.5B16998c31626 bp
Mar 31, 2023$2.5B16497c28621 bp
Dec 31, 2022$5.2B18697c56620 bp
Sep 30, 2022$2.3B15696c6611 bp
Dec 31, 2021$2.9B13699c17579 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 Dec 31, 2021
323 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
D• B••• I••warrants equityNot disclosedNot disclosed
n/a
m•••••••equity equityNot disclosedNot disclosed
A• S••••••• C•••••••••preferred equity equityNot disclosedNot disclosed
9• S•••• M•••• G•••• I•••term loan first lienNot disclosedNot disclosedApr 30, 2026
D• B••• I•••warrants equityNot disclosedNot disclosed
W• H•••••• I•••term loan first lienNot disclosedNot disclosedS+550 bpMar 26, 2026
M••••• 5••• G•••delayed draw term loan first lienNot disclosedNot disclosedS+625 bpMay 28, 2026
F•• A••••••••• I•••preferred equity equity$4,000Not disclosed
D••••• T•••••• I•••equity equity$68,000Not disclosed
B•• J•••••••• H••••••• A••••••• •• I••• L••equity equity$1.1MNot disclosed
n/a
C•• B•••• C••••••revolver first lienNot disclosedNot disclosedS+555 bpOct 3, 2025
D••••• T•••••• I••equity equity$68,000Not disclosed
Y•• H•••••••• I•••revolver first lienNot disclosedNot disclosedOct 31, 2025
M•• S••••••• L••revolver first lienNot disclosedNot disclosed
n/a
S+550 bpFeb 10, 2026
A••••••• I••revolver first lienNot disclosedNot disclosedS+525 bpAug 28, 2024
A••••••• F•••••••• G••••• L•••revolver first lienNot disclosedNot disclosedS+500 bpDec 23, 2026
9• S•••• M•••• G•••• I•••revolver first lienNot disclosedNot disclosedS+550 bpApr 30, 2026
9• S•••• M•••• G•••• I•••term loan first lienNot disclosedNot disclosedApr 30, 2026
B••••••••• O•• • G••• L•••equity equityNot disclosedNot disclosed
G••••••warrants equity$3.3MNot disclosed
V•••• B•••• A•term loan first lienNot disclosedNot disclosedS+400 bpMar 10, 2025
P••••••••equity equityNot disclosedNot disclosed
A•••• 1••• G•••term loan first lienNot disclosedNot disclosedFeb 23, 2028
Page 4 of 4Previous
Registration
Fiscal year end
1231reported
Incorporated
DEreported
On the SEC BDC report
2018 to 2026reported
Filings listed
19reported10-Q and 10-K since 2022
Former names
Sankaty Capital Corpreported
Latest schedule
0001193125-26-342491reported