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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
F••• R••••••• I•••term loan first lien$500,000$490,271
100c
11.00%
O••• I•••term loan first lien$500,000$489,879
100c
14.80%
F••• R••••••• I•••term loan first lien$500,000$489,474
100c
11.00%
I•• M••••• I•••term loan first lien$676,299$488,687
97c
18.00%
R••••••••• I•••term loan first lien$498,181$488,258
100c
12.00%
M••••••••• I•••term loan first lien$494,974$487,957
100c
11.00%
V•••••• H•••••••• I•••term loan first lien$500,000$486,006
100c
12.30%
T••••••••• I•••term loan first lien$494,432$485,923
100c
12.00%
8• C•••••••••term loan first lien$492,593$484,134
100c
12.00%
G••••••• I•••term loan first lien$500,000$483,907
100c
11.50%
R••• G••••••• I•••term loan first lien$500,000$483,688
100c
11.80%
H•••• I•••term loan first lien$500,000$479,857
100c
15.50%
O••••••• I•••term loan first lien$500,000$476,031
100c
11.50%
R•••• T••••••••• I•••term loan first lien$478,000$469,138
100c
11.00%
O••• I•••term loan first lien$500,000$466,444
100c
13.50%
J•••••• B•••••••• I•••term loan first lien$500,000$464,628
100c
11.00%
T••••••••• I•••term loan first lien$471,284$464,025
100c
12.00%
H••••••••• I•••term loan first lien$500,000$463,015
100c
11.00%
B•••••••• I•••term loan first lien$461,863$461,863
100c
11.30%
O•••••••• I•••term loan first lien$500,000$455,003
100c
13.50%
F••• R••••••• I•••term loan first lien$500,000$453,233
100c
11.00%
M••••••••• I•••term loan first lien$451,049$445,917
100c
11.50%
P••••••••• I•••term loan first lien$434,465$431,359
100c
12.00%
A•••••••• T••••••••• I•••term loan first lien$918,215$429,436
64c
11.50%
T••••••••• I•••term loan first lien$435,869$428,023
100c
12.00%
V••• G••••• I•••term loan first lien$424,672$423,754
100c
12.50%
W•••••••• I•••term loan first lien$431,509$422,446
100c
12.00%
L•••••••• S•••••••• P••• L•••term loan first lien$500,000$409,192
100c
11.50%
H•••••• H••••• I•••term loan first lien$750,000$394,090
60c
13.50%
J••• G••••• I•••term loan first lien$394,713$392,414
100c
12.00%
F••••••• I•••term loan first lien$375,000$365,687
100c
11.80%
I••••••••• F•••• C•••••••••term loan first lien$376,675$363,843
100c
12.00%
J•••• P••••••• I•••term loan first lien$375,000$361,833
100c
15.30%
G•••••• I•••term loan first lien$361,268$356,696
100c
11.80%
O••• H••••••• C••term loan first lien$360,890$356,041
100c
11.30%
O••• H••••••• C••term loan first lien$360,733$346,415
100c
11.30%
F••••••• I•••term loan first lien$373,252$345,100
100c
12.50%
T••••••••• I•••term loan first lien$361,660$334,093
100c
12.00%
T••• I•••term loan first lien$375,000$331,233
100c
14.30%
A•••••• S••••••••• I•••term loan first lien$330,331$326,265
100c
10.80%
R••••••••• U••• L••term loan first lien$429,014$324,954
80c
12.00%
R•••••• I•••term loan first lien$328,356$324,576
100c
12.00%
A•••••• S••••••••• I•••term loan first lien$330,164$320,732
100c
10.80%
M••••••••• I•••term loan first lien$324,612$314,639
100c
12.50%
B••••• I•••term loan first lien$315,769$292,082
100c
11.50%
O••• H•••••• I•••term loan first lien$298,062$291,388
100c
12.00%
M••• I•••term loan first lien$314,332$290,199
100c
12.00%
S••••••• W••••• I•••term loan first lien$293,242$288,631
100c
12.00%
U•••• B••••••• C••term loan first lien$1.7M$284,813
17c
12.00%
B••••• I•••term loan first lien$270,773$267,724
100c
11.50%
W•••• W••••• I•• I•••term loan first lien$265,952$265,952
100c
12.00%
W•••• W••••• I•• I•••term loan first lien$265,642$265,642
100c
12.00%
A••••• M••••••• I•••term loan first lien$398,742$265,129
76c
18.00%
B•••••••• B••••••••• I•••term loan first lien$275,000$259,449
100c
6.00%
S•••• C•••• I•••term loan first lien$258,901$257,742
100c
12.50%
P••••••••• I•••term loan first lien$257,192$254,220
100c
12.00%
O•••••••• I•••term loan first lien$250,000$250,000
100c
15.50%
V•••••••• I•••term loan first lien$250,000$250,000
100c
15.00%
B••••••••• I•••term loan first lien$249,592$245,168
99c
12.30%
C•••••• L••••••term loan first lien$250,000$244,353
100c
14.00%
C•••••••• I•••term loan first lien$250,000$243,724
100c
15.00%
B•••••••• I•••term loan first lien$250,000$241,811
100c
14.80%
Z••• T••••••••• I•••term loan first lien$235,104$235,101
100c
10.00%
W•••• W••••• I•• I•••term loan first lien$265,623$234,974
100c
12.00%
L••••••• H••••••• I•••term loan first lien$313,240$220,759
76c
11.00%
K••• I•••term loan first lien$250,000$220,735
100c
14.00%
V•••••••• I•••term loan first lien$250,000$220,314
100c
14.80%
H•••• H•••• I•••term loan first lien$218,266$217,389
100c
11.00%
S••••••• I••term loan first lien$223,109$216,833
100c
12.50%
Y••• B••••••••• I•••term loan first lien$250,000$216,344
100c
13.30%
T•••••••• I•••term loan first lien$249,273$215,638
100c
12.00%
Z••• T••••••••• I•••term loan first lien$235,104$215,567
100c
10.00%
L••••• P•••• I•••term loan first lien$222,887$215,165
100c
11.00%
F••••••• I•••term loan first lien$243,994$210,864
100c
11.80%
B• I••••••••• I•••term loan first lien$207,218$206,743
100c
11.80%
T•••••••• I•••term loan first lien$261,907$204,379
81c
10.50%
P••••••••• I•••term loan first lien$220,750$204,183
100c
12.00%
H•••••• H••••• I•••term loan first lien$362,058$201,534
60c
12.50%
C•••••••• I•••term loan first lien$250,000$200,422
100c
15.00%
O••• H•••••• I•••term loan first lien$197,475$195,618
100c
12.00%
A•••••• I•••term loan first lien$282,626$193,949
100c
12.50%
S••• A•••••• I•••term loan first lien$4.9M$193,603
6c
18.00%
A•••••• I•••term loan first lien$188,417$188,408
100c
12.50%
S••••••• W••••• I•••term loan first lien$181,506$180,228
100c
12.00%
O•••• I•••term loan first lien$179,658$177,586
100c
12.00%
R•••• T••••••••• I•••term loan first lien$200,000$157,396
100c
11.00%
V••• G••••• I•••term loan first lien$141,528$139,673
100c
12.50%
B• I••••••••• I•••term loan first lien$138,839$137,734
100c
11.80%
M••••••••• I•••term loan first lien$133,217$131,561
100c
12.50%
T••••••••• I•••term loan first lien$133,843$131,304
100c
12.50%
H•••••••• I•••term loan first lien$131,383$130,678
100c
11.80%
Q••••••• I•••term loan first lien$128,597$125,930
100c
12.00%
K•••• M••••••• I• L••term loan first lien$150,000$121,871
85c
11.50%
T••• I•••term loan first lien$125,000$121,701
100c
14.80%
P••••••••• I•••term loan first lien$125,000$121,692
100c
12.00%
R•••• I•••term loan first lien$11.6M$119,190
1c
12.50%
P••••••••• I•••term loan first lien$117,719$114,946
100c
12.00%
P••••••••• I•••term loan first lien$125,000$107,133
100c
13.80%
D••••• B••••••••• I•••term loan first lien$97,718$97,453
100c
11.00%
T••••••••• I•••term loan first lien$89,271$89,271
100c
12.50%
Page 3 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