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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 Jun 30, 2026
677 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| O•• A••••••••• L•• M••••: D••••••••• & P••••••••• | term loan first lien | $639,000 | $610,000 96c | SOFR+475 bp | Apr 17, 2032 |
| A•• L••••••••• I••• T•••••••••: C•••• | term loan first lien | $949,000 | $605,000 64c | SOFR+265 bp PIK 4.25% | Feb 3, 2028 |
| L••••••••• B••••• I••• H••••••••• & P••••••••• | revolver first lien | $619,000 | $600,000 99c | SOFR+475 bp | Feb 6, 2032 |
| H••••• W•••••••• | term loan first lien | $597,000 | $597,000 101c | SOFR+550 bp | Mar 31, 2029 |
| C•• I••• B•••• L•• B•••••••, F••• & T•••••• | subordinated debt unsecured or subordinated | $604,000 | $595,000 100c | S+1200 bp | Dec 22, 2031 |
| A•••••• H••• T••• I••••••••• | revolver first lien | $594,000 | $594,000 104c | SOFR+500 bp | Mar 10, 2031 |
| L• B••••• S• H••••, G••••• & L•••••• | delayed draw term loan first lien | $500,000 | $572,000 110c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+375 bp | Feb 21, 2028 |
| S•••••••• B•••••••, F••• & T•••••• | equity equity | $1,000 | $558,000 112c | ||
| A••••••• A•••••• S••••••s: B••••••• | preferred equity equity | $592,000 | $551,000 93c | ||
| P•••••••• U••••••• H•••••••• L•• A•••••••• & D•••••• | equity equity | $1.4M | $546,000 39c | ||
| F•••• F•••••• S••••• | warrants equity | $5,000 | $541,000 | ||
| H••••• I•• L•• H••• T••• I••••••••• | term loan first lien | $535,000 | $530,000 100c | SOFR+500 bp | Mar 13, 2031 |
| W••••• E••••• C••••••• G••••: D•••••• | delayed draw term loan first lien | $522,000 | $522,000 100c | S+1000 bp PIK 10.00% | Sep 30, 2026 |
| S••••• S••••••s: B••••••• | equity equity | $496,000 | $491,000 91c | ||
| R•••••••• I••• H••• T••• I••••••••• | revolver first lien | $573,000 | $472,000 83c | SOFR+590 bp PIK 0.50% | Apr 15, 2027 |
| B•• B••••• I••• S••••••s: B••••••• | revolver first lien | $482,000 | $471,000 100c | SOFR+500 bp | Oct 31, 2031 |
| A•••••• G••••• C•• A••••••••• I••• Capital E•••••••• | term loan first lien | $472,000 | $465,000 100c | SOFR+650 bp | Aug 27, 2030 |
| B•••• B•••• S••••••s: B••••••• | term loan first lien | $386,000 | $464,000 91c | SOFR+198 bp PIK 6.13% | Jul 10, 2028 |
| A••••••••• H••• T••• I••••••••• | revolver first lien | $1.0M | $463,000 45c | SOFR+575 bp | May 25, 2028 |
| S••••• F••••••• L•• C••••••• G••••: N••••••••• | term loan first lien | $459,000 | $455,000 100c | SOFR+525 bp | May 16, 2031 |
| T•••••• T••••••••• | term loan first lien | $442,000 | $442,000 102c | SOFR+625 bp | Feb 28, 2029 |
| A•• V••••• H••••••••• & P••••••••• | term loan first lien | $441,000 | $441,000 97c | SOFR+590 bp | Mar 27, 2027 |
| N•• L••• V••••• G•••• R••••• | revolver first lien | $613,000 | $432,000 103c | //www.baincapital.com/20260630#Canadian Overnight Repo Rate Average+525 bp | May 26, 2028 |
| A••••• P••••• H•••••••• L••• H••••••••• & P••••••••• | preferred equity equity | $4,000 | $427,000 106c | ||
| F•••• I•••••••• M••••••• A••••••••• I••• | delayed draw term loan first lien | $411,000 | $411,000 101c | SOFR+490 bp | Dec 19, 2027 |
| F• D•••••• B••• E••••••••• I••••••••• | delayed draw term loan first lien | $361,000 | $402,000 97c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+525 bp | Mar 4, 2033 |
| M•• B••••• L•• S••••••s: C••••••• | term loan first lien | $457,000 | $393,000 87c | SOFR+690 bp PIK 0.50% | Dec 22, 2028 |
| F•••• F•••••• P•••••••• | term loan first lien | $295,000 | $392,000 106c | //www.baincapital.com/20260630#Sterling Overnight Index Average+550 bp | May 23, 2029 |
| N•• L••• V••••• G•••• R••••• | delayed draw term loan first lien | $385,000 | $385,000 100c | SOFR+525 bp | May 26, 2028 |
| B•••••• A•••••••• G•••• H•••••••• I••• A•••••••• & D•••••• | revolver first lien | $391,000 | $383,000 100c | SOFR+600 bp | Oct 28, 2030 |
| L•• C• C••••••••• L••• S••••••s: B••••••• | equity equity | $287,000 | $372,000 98c | ||
| B•• C•• i••••••••• 1• L•• B•••••••, F••• & T•••••• | equity equity | $370,000 | $370,000 100c | ||
| R••••• O••••••••• ••••••• R••••••••• H••••••••• & P••••••••• | term loan first lien | $358,000 | $358,000 101c | SOFR+500 bp | Feb 28, 2031 |
| D•••• P••••••• S••••••s: B••••••• | equity equity | $359,000 | $356,000 99c | ||
| Z••• F••• • S••••••• C••••••••• & B••••••• | revolver first lien | $351,000 | $351,000 104c | SOFR+500 bp | Dec 11, 2030 |
| O•• A••••••••• L•• M••••: D••••••••• & P••••••••• | revolver first lien | $456,000 | $349,000 78c | SOFR+475 bp | Apr 17, 2032 |
| A•• I••••••• H••••••••• & P••••••••• | delayed draw term loan first lien | $340,000 | $340,000 101c | SOFR+500 bp | Mar 19, 2032 |
| F•••• I•••••••• M••••••• A••••••••• I••• | revolver first lien | $337,000 | $337,000 100c | SOFR+485 bp | Dec 20, 2027 |
| T•• H••••• L• C••••••• G••••: D•••••• | equity equity | $1.3M | $334,000 27c | ||
| R•• C••••••• I•••• O•••• L••• T•••••••••: C•••• | equity equity | $1.4M | $333,000 24c | ||
| A•• A••••••• S••••••• I••••••••• L••• C••••••••• & B••••••• | equity equity | $3,000 | $324,000 96c | ||
| H•••••• B•••••••, F••• & T•••••• | subordinated debt unsecured or subordinated | $570,000 | $321,000 92c | S+1500 bp PIK 15.00% | Mar 27, 2031 |
| T•••••• T••••••••• | equity equity | $358,000 | $313,000 97c | ||
| C••• S••••••s: B••••••• | delayed draw term loan first lien | $295,000 | $295,000 101c | SOFR+300 bp PIK 4.13% | May 21, 2031 |
| P•• G•••• Capital E•••••••• | equity equity | $376,000 | $294,000 78c | ||
| E•••••••• N••••• L•• M••••• & M••••• | revolver first lien | $269,000 | $269,000 102c | SOFR+575 bp | Aug 1, 2031 |
| F•••• F•••••• I••••••• F•••••••• G•••• L•• | term loan first lien | $267,000 | $267,000 102c | SOFR+660 bp | Aug 1, 2028 |
| P•• G•••• Capital E•••••••• | revolver first lien | $220,000 | $263,000 95c | //www.baincapital.com/20260630#Sterling Overnight Index Average+550 bp | Feb 28, 2031 |
| M••••• 5••• G••• H••••••••• & P••••••••• | term loan first lien | $236,000 | $262,000 100c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+400 bp PIK 2.75% | May 28, 2028 |
| W••••••••• A•••••••• & D•••••• | delayed draw term loan first lien | $256,000 | $256,000 100c | SOFR+500 bp | Feb 15, 2029 |
| F•••• I•••••••• M••••••• A••••••••• I••• | term loan first lien | $247,000 | $247,000 100c | SOFR+490 bp | Dec 20, 2027 |
| K••• H•••••••• I••• U••••••••: E••••••• | revolver first lien | $263,000 | $246,000 97c | SOFR+525 bp | Aug 1, 2031 |
| P•• G•••• Capital E•••••••• | delayed draw term loan first lien | $219,000 | $232,000 81c | //www.baincapital.com/20260630#Sterling Overnight Index Average+550 bp | Feb 28, 2031 |
| W••••••••• S••••••s: B••••••• | delayed draw term loan first lien | $213,000 | $229,000 100c | SOFR+625 bp | Dec 18, 2030 |
| A•••• S••••••s: B••••••• | revolver first lien | $226,000 | $218,000 103c | SOFR+500 bp | Dec 30, 2031 |
| H•••• C••••••• G••••: N••••••••• | term loan first lien | $220,000 | $217,000 99c | SOFR+525 bp | Oct 25, 2029 |
| R••••• O••••••••• ••••••• R••••••••• H••••••••• & P••••••••• | revolver first lien | $210,000 | $210,000 104c | SOFR+500 bp | Feb 28, 2031 |
| M••••• C••••••••• S••••••s: C••••••• | revolver first lien | $217,000 | $208,000 97c | SOFR+850 bp | Jun 21, 2029 |
| H•••• U• T••••••••• I••• A•••••••• & D•••••• | term loan first lien | $202,000 | $202,000 100c | SOFR+525 bp | Jul 23, 2030 |
| E••••• G•••• S••••••s: B••••••• | revolver first lien | $208,000 | $201,000 101c | Prime+450 bp | Apr 9, 2030 |
| U•••••• H••• T••• I••••••••• | term loan first lien | $192,000 | $192,000 101c | SOFR+593 bp | May 14, 2029 |
| E••••••••• P••••••• C••• L•• Capital E•••••••• | revolver first lien | $188,000 | $188,000 103c | SOFR+450 bp | Aug 12, 2031 |
| F•••• U••• B•••• I•• W•••••••• | delayed draw term loan first lien | $187,000 | $187,000 102c | SOFR+500 bp | Aug 1, 2031 |
| E••••• H••• T••• I••••••••• | preferred equity equity | $109,000 | $183,000 168c | ||
| I••• L••••••••• I••• T•••••••••: C•••• | term loan first lien | $181,000 | $180,000 101c | SOFR+625 bp | Mar 1, 2029 |
| P••••••••• M•••••• C••• L•• H••••••••• & P••••••••• | term loan first lien | $176,000 | $174,000 100c | SOFR+475 bp | Jul 1, 2032 |
| A• P••••••• G••••• L•• C••••••••, P••••••• & R••••• | delayed draw term loan first lien | $174,000 | $174,000 100c | SOFR+485 bp | Aug 10, 2030 |
| O•• B•••• L•••••• M••••: A•••••••••, P••••••• & P••••••••• | term loan first lien | $139,000 | $172,000 104c | //www.baincapital.com/20260630#Sterling Overnight Index Average+650 bp | Jun 29, 2029 |
| B•••• B•••• S••••••s: B••••••• | term loan first lien | $138,000 | $166,000 87c | SOFR+198 bp PIK 6.12% | Jul 10, 2028 |
| A••••••••• H••• T••• I••••••••• | equity equity | $8.3M | $166,000 3c | ||
| E•• A••••••••• I••• Capital E•••••••• | revolver first lien | $165,000 | $163,000 100c | Prime+425 bp | Dec 19, 2031 |
| O•••• S••••••s: B••••••• | term loan first lien | $123,000 | $163,000 96c | //www.baincapital.com/20260630#Sterling Overnight Index Average+500 bp | May 8, 2028 |
| M••••• C••••••••• S••••••s: C••••••• | delayed draw term loan first lien | $180,000 | $162,000 91c | SOFR+850 bp | Jun 21, 2029 |
| H••• I••••••••• S••••••s: B••••••• | term loan first lien | $163,000 | $161,000 99c | SOFR+475 bp | Feb 2, 2033 |
| G••• B••••• I••• C••••••••• & B••••••• | term loan first lien | $158,000 | $158,000 101c | SOFR+475 bp | Jul 2, 2031 |
| P••••••••• P•• I••••••••• I• L•• C••••••••, P••••••• & R••••• | revolver first lien | $171,000 | $158,000 98c | SOFR+700 bp | Feb 7, 2030 |
| F•••• F•••••• S••••• | warrants equity | $2,000 | $155,000 | ||
| M••••• 5••• G••• H••••••••• & P••••••••• | term loan first lien | $137,000 | $152,000 102c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+400 bp PIK 2.75% | May 28, 2028 |
| K••••• L•• C••••••• G••••: N••••••••• | revolver first lien | $168,000 | $151,000 99c | SOFR+600 bp | Apr 14, 2031 |
| O•• A••••••••• L•• M••••: D••••••••• & P••••••••• | delayed draw term loan first lien | $199,000 | $150,000 76c | SOFR+475 bp | Apr 17, 2032 |
| i•••••••• S••••••s: B••••••• | term loan first lien | $128,000 | $146,000 106c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+975 bp PIK 9.75% | Jul 13, 2028 |
| A•• A••••••• G•••• S••••••• A••••••••• L•• C••••••••• & B••••••• | term loan first lien | $145,000 | $144,000 99c | SOFR+550 bp | Jul 24, 2031 |
| P••• S••••••s: B••••••• | term loan first lien | $142,000 | $138,000 98c | SOFR+550 bp | Dec 20, 2030 |
| B•• E•• I••••••••• 1• L•• A•••••••• & D•••••• | equity equity | $130,000 | $130,000 100c | ||
| M•••••• C••••••••• H•••••••• L•• S••••••s: B••••••• | revolver first lien | $133,000 | $127,000 98c | SOFR+500 bp | Mar 17, 2032 |
| A••••• H••• T••• I••••••••• | term loan first lien | $80,000 | $106,000 107c | //www.baincapital.com/20260630#Sterling Overnight Index Average+525 bp | Jun 28, 2029 |
| C••• S••••••s: B••••••• | delayed draw term loan first lien | $106,000 | $106,000 97c | SOFR+300 bp PIK 4.12% | May 21, 2031 |
| V• G••••• H••••••• L•• C••••••••, P••••••• & R••••• | term loan first lien | $98,000 | $104,000 101c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+575 bp | Dec 22, 2027 |
| S•••••• M••••• C••••••••• & B••••••• | term loan first lien | $130,000 | $104,000 82c | SOFR+601 bp PIK 1.00% | Dec 31, 2029 |
| C•••• A••••••••• | term loan first lien | $98,000 | $98,000 101c | SOFR+525 bp | May 30, 2028 |
| U•••••• H••• T••• I••••••••• | term loan first lien | $94,000 | $94,000 101c | SOFR+593 bp | May 14, 2029 |
| F•••• I•••••••• M••••••• A••••••••• I••• | term loan first lien | $94,000 | $94,000 100c | SOFR+490 bp | Dec 20, 2027 |
| T•• S•••• B•••• P•• L•• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $70,000 | $92,000 103c | //www.baincapital.com/20260630#Sterling Overnight Index Average+578 bp | Apr 28, 2028 |
| R••••••• E••••••••• I••••••••• | term loan first lien | $68,000 | $90,000 108c | //www.baincapital.com/20260630#Sterling Overnight Index Average+650 bp | Jul 12, 2029 |
| W••••••••• S••••••s: B••••••• | delayed draw term loan first lien | $87,000 | $87,000 100c | SOFR+650 bp | Dec 18, 2030 |
| U•••••• H••• T••• I••••••••• | term loan first lien | $67,000 | $77,000 107c | //www.baincapital.com/20260630#Euro Interbank Offered Rate+575 bp | May 14, 2029 |
| G•• H•••••••• L•• A•••••••• & D•••••• | term loan first lien | $78,000 | $74,000 95c | SOFR+228 bp PIK 3.62% | Nov 6, 2026 |
| T•• S•••• B•••• P•• L•• M••••: A•••••••••, P••••••• & P••••••••• | delayed draw term loan first lien | $106,000 | $73,000 100c | SOFR+586 bp | Apr 28, 2028 |
| W•• W•••••••• | revolver first lien | $69,000 | $69,000 | S+1200 bp PIK 12.00% | Apr 27, 2028 |
| D•••• P••••••• S••••••s: B••••••• | term loan first lien | $70,000 | $69,000 99c | SOFR+765 bp | Jun 1, 2028 |
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