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B••• C•••••• S•••••••• F••••••• I•••
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.
As of · the latest schedule of investments read for this BDC
- Fair value
- $2.4B
- Borrowers
- 243
- Mark on cost
- 95.6¢
- First lien
- 63%
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
- $70.7Mon 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••••• → - $70.2Mnewly 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.
- 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 814-01175ShowHide
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
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.4B | 243 | 96c | 78 | 574 bp |
| Mar 31, 2026 | $2.5B | 243 | 96c | 85 | 573 bp |
| Dec 31, 2025 | $2.7B | 233 | 98c | 103 | 581 bp |
| Sep 30, 2025 | $2.5B | 221 | 98c | 72 | 585 bp |
All 17 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $2.5B | 207 | 98c | 74 | 590 bp |
| Mar 31, 2025 | $2.5B | 196 | 98c | 70 | 585 bp |
| Dec 31, 2024 | $3.0B | 209 | 97c | 85 | 610 bp |
| Sep 30, 2024 | $2.4B | 185 | 98c | 50 | 616 bp |
| Jun 30, 2024 | $2.6B | 174 | 99c | 44 | 618 bp |
| Mar 31, 2024 | $2.8B | 174 | 99c | 44 | 636 bp |
| Dec 31, 2023 | $2.8B | 161 | 98c | 63 | 647 bp |
| Sep 30, 2023 | $2.5B | 169 | 98c | 36 | 639 bp |
| Jun 30, 2023 | $2.5B | 169 | 98c | 31 | 626 bp |
| Mar 31, 2023 | $2.5B | 164 | 97c | 28 | 621 bp |
| Dec 31, 2022 | $5.2B | 186 | 97c | 56 | 620 bp |
| Sep 30, 2022 | $2.3B | 156 | 96c | 6 | 611 bp |
| Dec 31, 2021 | $2.9B | 136 | 99c | 17 | 579 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
Full timeline · 20 eventsShow fewer
- Placed on non-accrualJun 30, 2026
- Placed on non-accrualJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
Largest facilities held, with co-lenders
- V••••••• I••••••••• unsecured or subordinated term loan1 BDC hold it · matures Feb 22, 2028$254M 88c
- V••••••• B••• C•••••• unsecured or subordinated term loan2 BDCs hold it · matures Dec 24, 2036$179M 90c
- S•••••• H•••••• L•• first lien term loan2 BDCs hold it · matures May 13, 2030$71.0M 103c
- A•• V••••• first lien delayed draw term loan2 BDCs hold it · matures Mar 27, 2027 · possible sponsor R•••• C•••••• G••••• L••$59.9M 100c
- A••••••• T•••••• R••••• G••••• L•• unsecured or subordinated subordinated debt1 BDC hold it · matures Dec 1, 2028$49.9M 89c
- $39.5M n/a
- D••• first lien term loan2 BDCs hold it · matures Sep 30, 2029$33.2M 99c
- A••••••••• I•• first lien term loan4 BDCs hold it · matures May 25, 2029$31.9M 84c
- E•••••••• C••••••••• R••••• M•••••••• C••••••• L•• first lien term loan2 BDCs hold it · matures Sep 30, 2026$30.2M 102c
- T•••••• first lien term loan1 BDC hold it · matures Feb 28, 2029$29.3M 101c
- S••••••• L•• first lien term loan2 BDCs hold it · matures Mar 27, 2029$29.3M 91c
- T•••• C•••• S•••••••• I•• first lien term loan2 BDCs hold it · matures Sep 7, 2029$27.6M 100c
Schedule of investments at Dec 31, 2024
594 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| O•••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | -$11,000 100c | S+500 bp | Mar 19, 2027 |
| P•••• T••••••• H••••, G••••• & L•••••• | revolver first lien | Not disclosed | -$12,000 100c | S+525 bp | Oct 23, 2029 |
| E••••• G•••• S••••••s: B••••••• | revolver first lien | Not disclosed | -$13,000 118c | S+550 bp | Apr 9, 2030 |
| E••••• G•••• S••••••s: B••••••• | revolver first lien | Not disclosed | -$13,000 118c | S+550 bp | Apr 9, 2030 |
| H•••••• B•••••••, F••• & T•••••• | delayed draw term loan first lien | Not disclosed | -$14,000 93c | Sep 27, 2030 | |
| F•••• G••••• M••••: A•••••••••, P••••••• & P••••••••• | revolver first lien | Not disclosed | -$16,000 100c | Jun 20, 2031 | |
| O•••• S••••••s: B••••••• | revolver first lien | Not disclosed | -$16,000 107c | Mar 19, 2027 | |
| H•••• C••••••• G••••: N••••••••• | revolver first lien | Not disclosed | -$16,000 107c | S+525 bp | Oct 25, 2029 |
| F•••• F•••••• P•• | revolver first lien | Not disclosed | -$18,000 100c | S+525 bp | Jan 31, 2031 |
| Z••• F••• • S••••••• C••••••••• & B••••••• | revolver first lien | Not disclosed | -$20,000 100c | S+500 bp | Dec 11, 2030 |
| P••• W•••• S••••••s: B••••••• | revolver first lien | Not disclosed | -$20,000 105c | S+560 bp | Nov 12, 2030 |
| W••••••••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | -$22,000 100c | S+625 bp | Dec 18, 2030 |
| L•••••••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$25,000 227c | S+750 bp | Jul 2, 2029 |
| L•••••••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$25,000 227c | S+750 bp | Jul 2, 2029 |
| R•• N•••••• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | -$25,000 100c | S+525 bp | Oct 17, 2031 |
| S•••••• I••• H••• T••• I••••••••• | delayed draw term loan first lien | Not disclosed | -$26,000 186c | S+650 bp | Mar 6, 2028 |
| S•••••• I••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$26,000 186c | S+650 bp | Mar 6, 2028 |
| R••••••••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$31,000 100c | S+700 bp | Dec 5, 2030 |
| F•••• G••••• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | -$31,000 100c | Dec 20, 2031 | |
| E••••••••• M••••••• S•••••• B••••••, Finance, I•••••••• & Real Estate | revolver first lien | Not disclosed | -$34,000 | S+500 bp | Aug 1, 2030 |
| E•• H••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | -$34,000 | S+550 bp | Aug 7, 2030 |
| A•• A•••••••• & D•••••• | revolver first lien | $0 | -$36,000 | S+0 bp | Jul 12, 2029 |
| o••••••••• I••••••••• A•••••••• • D•••••• A•• | revolver first lien | $0 | -$36,000 | Jul 12, 2029 | |
| A•• A•••••••• & D•••••• | revolver first lien | $0 | -$36,000 | S+0 bp | Jul 12, 2029 |
| B•••• M••••••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$39,000 111c | S+500 bp | Oct 7, 2030 |
| C••••••• G••••• W•••••••• W•• | revolver first lien | Not disclosed | -$40,000 2000c | S+115 bp | Apr 27, 2028 |
| P••••••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$41,000 102c | S+525 bp | Oct 31, 2030 |
| F•••• I•••••••• S••••••••• | term loan first lien | Not disclosed | -$43,000 100c | S+500 bp | Dec 31, 2031 |
| F•••• I•••••••• S••••••••• | delayed draw term loan first lien | Not disclosed | -$43,000 100c | S+500 bp | Dec 31, 2031 |
| B••••••••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | -$45,000 | S+550 bp | Jun 28, 2031 |
| F•••• G••••• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | -$47,000 100c | Dec 20, 2031 | |
| N•••••• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | -$50,000 200c | S+525 bp | Aug 29, 2031 |
| A••••••••• H••• T••• I••••••••• | revolver first lien | Not disclosed | -$51,000 268c | S+625 bp | May 25, 2028 |
| T•••••• T••••••••• | delayed draw term loan first lien | Not disclosed | -$55,000 | S+725 bp | Feb 28, 2029 |
| B•••• M••••••• H••• T••• I••••••••• | delayed draw term loan first lien | Not disclosed | -$59,000 113c | S+500 bp | Oct 7, 2030 |
| A•••••• H••••, G••••• & L•••••• | delayed draw term loan first lien | Not disclosed | -$61,000 136c | S+525 bp | Sep 6, 2031 |
| F•••• G••••• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | -$67,000 100c | Dec 20, 2031 | |
| D••• S••••••s: B••••••• | revolver first lien | Not disclosed | -$71,000 | S+750 bp | Sep 30, 2029 |
| A••••• G•••••• U•••••• I••• B•••••••, F••• & T•••••• | revolver first lien | $12,000 | -$76,000 380c | SOFR+676 bp PIK 4.00% | May 24, 2028 |
| E••• I•• S••••••s: B••••••• | revolver first lien | Not disclosed | -$78,000 103c | S+540 bp | Oct 30, 2030 |
| E••• I•• S••••••s: B••••••• | revolver first lien | Not disclosed | -$78,000 103c | S+540 bp | Oct 30, 2030 |
| E••• I•• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | -$78,000 103c | S+540 bp | Oct 30, 2030 |
| E••• I•• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | -$78,000 103c | S+540 bp | Oct 30, 2030 |
| O•••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | -$91,000 102c | S+525 bp | Nov 21, 2030 |
| D••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | -$94,000 247c | S+750 bp | Sep 30, 2029 |
| V••••••• B••• C•••••• | term loan unsecured or subordinated | $10,000 | -$4.8M -87c | ||
| S•••••• M••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| R•••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| E•• P••••• H•••••••• L• | unstated lien unstated | Not disclosed | Not disclosed | ||
| m••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S•••••• M••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| P•••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| B•• J•••••••• H••••••• A••••••• •• I••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A•••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| N•••••• H••• T••• I••••••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+500 bp | Dec 9, 2029 |
| A••••• A••••••• T••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| T•••• C•••• S•••••••• I•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| U•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| W•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| E••••••••• M••••••• S•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| U••• D••••• H••• T••• I••••••••• N•••••• | term loan first lien | Not disclosed | Not disclosed | SOFR+500 bp | Dec 9, 2029 |
| U••• D••••• C••••••••• P••••••• • R••••• V• G••••• H••••••• L•• | term loan first lien | Not disclosed | Not disclosed | SOFR+590 bp | Dec 22, 2027 |
| C••• B•• H••••, G••••• & L•••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+545 bp | Sep 4, 2030 |
| W•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| B•• J•••••••• H••••••• A••••••• •• I••• L•• A•••••••• & D•••••• | equity equity | $1.1M | Not disclosed n/a | ||
| P•••••••• U••••••• H•••••••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| D•••••••• S••••• L••••• S••••••s: B••••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+550 bp | Mar 18, 2030 |
| E•• H••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| D• B••• T••••••••• | equity equity | $51,000 | Not disclosed | ||
| H••••••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | Not disclosed | S+610 bp | Aug 20, 2029 |
| C•••••• G••• P••••••• H••••• L•• H••••, G••••• & L•••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+475 bp | Apr 2, 2029 |
| F•••• F•••••• C••••••• W••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+560 bp | Jun 30, 2029 |
| P••••••• P••••••• H••••••••• & P••••••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+650 bp | Feb 28, 2029 |
| D•••••••• S••••• L••••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed n/a | S+550 bp | Mar 18, 2030 |
| S••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| I••••••• F•••••••• G•••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| G•••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| F••••••• T••••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A••••• I••••••••• H••••••••• & P••••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed n/a | S+575 bp | May 31, 2028 |
| S••••• F•••• B• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | Jul 15, 2029 | |
| C••••••• W••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| E•••• R••• C•••••• C••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| N•• I••••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| C• T•••• H•••••••• I••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| H••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| U••• D••••• M••••• D••••••••• • P••••••••• A•••• 1••• G••• | delayed draw term loan first lien | Not disclosed | Not disclosed | SOFR+615 bp | Feb 23, 2028 |
| A••••• I••••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| A•••••••• S••••••s: B••••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+575 bp | Jun 5, 2030 |
| C••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+625 bp | May 20, 2031 |
| C• T•••• H•••••••• I••• H••••••••• & P••••••••• | preferred equity equity | $2.0M | Not disclosed n/a | ||
| S••••• G•••• H•••••••• L•• H••••••••• & P••••••••• | revolver first lien | Not disclosed | Not disclosed n/a | S+560 bp | Jun 16, 2027 |
| U••• D••••• H••• T••• I••••••••• U•••••• | term loan first lien | Not disclosed | Not disclosed | SOFR+651 bp | May 14, 2029 |
| F•••• F•••••• A••••••• F•••••••• G••••• L••• | revolver first lien | Not disclosed | Not disclosed n/a | S+500 bp | Dec 23, 2027 |
| F•••• F•••••• C••••••• W••••• | revolver first lien | Not disclosed | Not disclosed | S+560 bp | Jun 30, 2029 |
| F•••• F•••••• C••••••• W••••• | delayed draw term loan first lien | Not disclosed | Not disclosed | S+560 bp | Jun 30, 2029 |
| D•••• B•••• L•••••• S••••••s: B••••••• | delayed draw term loan first lien | Not disclosed | Not disclosed n/a | S+550 bp | Apr 30, 2031 |
| B•• P•••••••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| D••• | unstated lien unstated | Not disclosed | Not disclosed | ||
| L••••• C•••••••• L•••••• H•••••• L•• | unstated lien unstated | Not disclosed | Not disclosed | ||
| S••••••••• | unstated lien unstated | Not disclosed | Not disclosed |
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