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V•••••• L•••••• • L•••••• I•• I•••

Business development companymanaged by W•••••• T••••••••• I••••••••• ••••Non-traded· PORTOLA VALLEY, CA

A non-traded business development company, managed by W•••••• T••••••••• I••••••••• ••••, holding $56.2M across 61 borrowers at Mar 31, 2026.

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

Fair value
$56.2M
Schedule of investments, 10-Q and 10-K
Borrowers
61
Schedule of investments, 10-Q and 10-K
Mark on cost
61.0¢
Schedule of investments, 10-Q and 10-K
First lien
100%
Schedule of investments, 10-Q and 10-K
Schedule of investments (65)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. 66.4¢ → 61.0¢
    book mark on cost

    Marked its book down from 66.4¢ to 61.0¢ on the dollar in the quarter to Mar 31, 2026.

    Q1 2026 · The whole portfolio was marked down; net asset value follows.

    Derivedthe schedule's fair value over cost, quarter on quarterQuarter by quarter →
  2. 26 below 80¢
    $48.5M principal

    26 positions across 26 borrowers marked below 80¢ on cost, $48.5M principal.

    Q1 2026 · Marks this low usually come before non-accrual or a restructuring.

    Derivedeach position's fair value over cost, 31 Mar 2026
  3. 68 → 61
    borrowers

    Lost a net 7 borrowers in the quarter to Mar 31, 2026, to 61.

    Q1 2026 · The book is turning over faster than usual.

    Factthe schedule's borrowers, quarter on quarterSchedule of investments →
  4. $130M → $56.2M
    fair value, 4 quarters

    Its portfolio shrank 57% at fair value over the last four quarters.

    Q1 2026 · The book is shrinking.

    Factthe schedule's fair value, a year apartQuarter by quarter →
Every headline figure, and the identifiersCIK 1717310 · file 814-01253Show
Fair value
$56.2M
as of Mar 31, 2026
Principal held
$107M
debt pieces, the filer's figure
Cost
$92.2M
61c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
65
61 borrowers
First lien
100%
100% debt by fair value
Quarters on the tape
14
since Dec 31, 2022
Facilities held
61
1 sponsors financed
Portfolio through time
Fair value by quarter end$56.2M as of Mar 31, 2026
Dec 31, 2022$490M then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Mar 31, 2026$56.2M6161c0n/a
Dec 31, 2025$78.1M6866c0n/a
Sep 30, 2025$90.9M7964c0n/a
Jun 30, 2025$105M8867c0n/a
All 14 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Mar 31, 2025$130M9874c0n/a
Dec 31, 2024$302M10678c0n/a
Sep 30, 2024$175M11975c0n/a
Jun 30, 2024$203M13079c0n/a
Mar 31, 2024$253M14283c0n/a
Dec 31, 2023$347M15586c0n/a
Sep 30, 2023$355M16188c0n/a
Jun 30, 2023$406M16992c0n/a
Mar 31, 2023$464M18393c0n/a
Dec 31, 2022$490M19194c0n/a
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 Mar 31, 2023
344 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
P••••• I•••term loan first lien$1.4M$1.4M
100c
12.80%
J•• M•••••••• I••term loan first lien$1.5M$1.4M
100c
12.00%
A••••• I•••term loan first lien$1.5M$1.4M
100c
12.80%
C•••••• A•••••••• I•••term loan first lien$1.5M$1.4M
100c
12.00%
H••••• T••••••••• I•••term loan first lien$1.4M$1.4M
100c
12.00%
B•••• C••• T••••••••• I•••term loan first lien$1.4M$1.4M
100c
12.00%
P•••• P•••••• I•••term loan first lien$1.4M$1.4M
100c
11.00%
G••••••••• I•••term loan first lien$1.4M$1.4M
100c
11.50%
T•• S••• a•• F••• F••• C•••••• L••term loan first lien$1.5M$1.4M
100c
12.30%
M••••••••• I•••term loan first lien$1.4M$1.4M
100c
11.00%
V•••• H••••••• I•••term loan first lien$1.4M$1.3M
100c
11.80%
O•••••••• I•••term loan first lien$1.4M$1.3M
100c
12.00%
R•••• T••••••••• I•••term loan first lien$1.3M$1.3M
100c
11.00%
P••••• I•••term loan first lien$1.4M$1.3M
100c
12.50%
K••• H••••••• L••••••term loan first lien$1.3M$1.3M
100c
12.00%
R•••••• I•••term loan first lien$1.4M$1.3M
100c
11.50%
V•••• H••••••• I•••term loan first lien$1.4M$1.3M
100c
11.80%
B••••••• C•••• L••term loan first lien$1.3M$1.3M
100c
12.00%
L••••• T••••••••• I•••term loan first lien$1.3M$1.2M
100c
12.00%
A•••••• I•••••••••term loan first lien$1.3M$1.2M
100c
12.00%
V••• H••••••• L••••••term loan first lien$2.5M$1.2M
75c
12.00%
Q••••••• I•••term loan first lien$1.2M$1.2M
100c
11.00%
Q••••••• I•••term loan first lien$1.2M$1.2M
100c
11.00%
Q••••••• I•••term loan first lien$1.2M$1.2M
100c
11.00%
B••••••• C•••• L••term loan first lien$1.3M$1.2M
100c
12.00%
H•••••••• I•••term loan first lien$1.2M$1.2M
100c
11.80%
B•• R•• S••••••• I•••term loan first lien$1.2M$1.2M
100c
11.50%
R•••••• E•••••• I•••term loan first lien$1.2M$1.2M
100c
12.30%
P•••••• I•••term loan first lien$2.0M$1.1M
71c
12.50%
P•••• F•••• I•••term loan first lien$1.1M$1.0M
100c
11.50%
H•••• H•••• I•••term loan first lien$1.1M$1.0M
100c
11.00%
P••••••• S••••••• I•••term loan first lien$1.0M$1.0M
100c
11.50%
B••••••• C•••• L••term loan first lien$1.0M$1.0M
100c
14.80%
W•••••• I•••term loan first lien$1.1M$990,944
100c
12.00%
L•••••••• S•••••••• P••• L•••term loan first lien$1.0M$974,091
100c
12.80%
C••••• T••••••••• C••••term loan first lien$1.0M$974,087
100c
15.00%
S••• S••••••••• I•••term loan first lien$989,379$973,837
100c
11.50%
R••••••••• I•••term loan first lien$989,813$973,250
100c
11.00%
R••••••••• I•••term loan first lien$990,216$970,908
100c
11.00%
R••• G••••••• I•••term loan first lien$1.0M$959,249
100c
11.80%
1••••• P•• L•••term loan first lien$1.2M$954,710
100c
12.00%
S••• A••••••••• C•••••• I•••term loan first lien$1.0M$952,134
100c
13.50%
T••• I•••term loan first lien$995,020$949,442
100c
11.80%
P•••• F•••• I•••term loan first lien$960,951$944,199
100c
11.50%
J•••• P••••••• I•••term loan first lien$1.0M$929,626
100c
13.00%
W••••• L•••• I•••term loan first lien$1.0M$920,675
100c
12.00%
F••••••••• T••••••••• I•••term loan first lien$1.0M$917,218
100c
13.50%
Q••••••• I•••term loan first lien$1.2M$906,251
100c
11.00%
H•••• I•••term loan first lien$1.0M$903,382
100c
13.50%
P••••••••• T••••••••• I•••term loan first lien$941,756$893,655
100c
12.00%
B••••• I•••term loan first lien$902,969$885,896
100c
11.50%
D••••••• I•••term loan first lien$2.0M$875,527
46c
11.00%
A••••• I•••term loan first lien$909,072$873,105
100c
12.30%
W•••••••• I•••term loan first lien$880,019$867,321
100c
12.00%
B••••••• C•••• L••term loan first lien$1.0M$865,785
100c
13.30%
C••••• C••••••• I•••term loan first lien$862,864$855,581
100c
12.00%
U•• D•••••• H•••••• I•••term loan first lien$865,608$848,727
100c
12.00%
F•••••••• I•••term loan first lien$894,657$837,993
97c
12.00%
P•••••• H•••••••• I•••term loan first lien$857,536$837,475
100c
12.00%
3• B•• H•••••••• I•••term loan first lien$860,695$834,565
100c
11.50%
i••••••••• I•••term loan first lien$1.6M$828,973
100c
11.50%
A•••••• I•••••••••term loan first lien$846,161$796,929
100c
12.00%
O••••••••• I•••term loan first lien$795,088$788,303
100c
12.00%
O••••••••• I•••term loan first lien$794,666$774,271
100c
12.00%
H•••••••• I•••term loan first lien$783,691$771,464
100c
11.80%
K••••• I•••term loan first lien$798,827$765,642
100c
11.50%
S••• A••••••••• C•••••• I•••term loan first lien$750,000$741,792
100c
14.00%
B•••••••• I•••term loan first lien$742,370$736,325
100c
11.30%
S••••• M•••••• I•••term loan first lien$750,000$724,740
100c
11.00%
G•••••• P••••••••• I•••term loan first lien$751,907$721,175
100c
11.00%
U•• D•••••• H•••••• I•••term loan first lien$764,350$718,918
100c
12.00%
T••••••• A•••• I•••term loan first lien$750,000$718,799
100c
12.00%
B•• R•• S••••••• I•••term loan first lien$721,884$713,380
100c
11.50%
C•••••• L••••••term loan first lien$750,000$706,190
100c
11.80%
S•••• T••••••••• I•••term loan first lien$746,256$704,128
100c
12.30%
G•••••• I•••term loan first lien$750,000$696,824
100c
14.00%
G••••••• I•••term loan first lien$696,579$678,128
100c
11.50%
S••••••• W••••• I•••term loan first lien$658,661$652,060
100c
11.30%
S••••••• W••••• I•••term loan first lien$658,807$651,661
100c
11.30%
V••••• H•••••• I•••term loan first lien$710,604$637,041
100c
12.00%
A•••••••• I•••term loan first lien$625,000$624,810
100c
11.00%
W•••••• I•••term loan first lien$633,354$618,871
100c
12.00%
C•••••••• I•••term loan first lien$662,249$615,987
100c
12.00%
H•••• I•••term loan first lien$617,082$608,852
100c
12.00%
G•••••• I•••term loan first lien$628,149$608,261
100c
11.80%
A•••••••• I•••term loan first lien$625,000$579,552
100c
11.00%
Q••••••• I•••term loan first lien$584,935$579,499
100c
12.00%
F•• W••••• I•••term loan first lien$561,488$553,756
100c
11.80%
H•••• H••••••• I•••term loan first lien$625,000$549,286
100c
13.00%
M••••••••• I•••term loan first lien$529,973$518,038
100c
11.50%
Q••••••• I•••term loan first lien$516,732$512,508
100c
12.00%
S•••• C•••• I•••term loan first lien$517,673$512,150
100c
12.50%
N•••••• H•••••• I•••term loan first lien$532,184$506,835
100c
12.30%
N•• L••• H•••••• I•••term loan first lien$1.5M$501,329
36c
11.50%
A•••••• I•••term loan first lien$515,932$500,865
100c
12.00%
H••••••••• I•••term loan first lien$500,000$500,000
100c
11.00%
J•••••• B•••••••• I•••term loan first lien$500,000$499,993
100c
11.00%
C••••• S••• I••term loan first lien$500,000$499,993
100c
11.00%
O••••••• I•••term loan first lien$500,000$491,892
100c
11.50%
F••• R••••••• I•••term loan first lien$500,000$491,751
100c
11.00%
Page 2 of 4PreviousNext
Registration
Fiscal year end
1231reported
Incorporated
MDreported
On the SEC BDC report
2018 to 2026reported
Filings listed
18reported10-Q and 10-K since 2022
Former names
Venture Lending & L•••••• Fund IX, Inc.reported
Latest schedule
0001717310-26-000009reported