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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 Jun 30, 2023
285 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
C••••• C••••••• I•••term loan first lien$14.8M$14.4M
100c
11.80%
S••••••••• L••••• P•••••••• L••term loan first lien$13.7M$12.8M
100c
12.50%
V••• G••••• I•••term loan first lien$12.6M$12.3M
100c
12.50%
Q•••••••• C••••term loan first lien$12.5M$11.6M
100c
12.00%
M•••••••• I•••term loan first lien$8.9M$8.8M
100c
12.00%
L•••• H•••• I•••term loan first lien$7.8M$7.6M
100c
11.80%
M•••• L•••• I•••term loan first lien$7.5M$7.1M
100c
13.30%
L•••• H•••• I•••term loan first lien$6.9M$6.9M
100c
11.80%
K•••• K••••• I•••term loan first lien$7.0M$6.7M
100c
13.00%
Z••••• I•••term loan first lien$6.3M$6.1M
100c
11.50%
Z••••• I•••term loan first lien$6.3M$5.9M
100c
11.50%
H•••• I•••term loan first lien$6.4M$5.7M
100c
12.00%
N•••••• L•••• I•••term loan first lien$5.7M$5.3M
100c
13.30%
C••••••• I•••term loan first lien$5.2M$5.0M
100c
11.80%
P••••••• S••••••• I•••term loan first lien$5.0M$4.9M
100c
12.50%
U•••• L••• I•••term loan first lien$5.0M$4.8M
100c
13.50%
C•••• C••• H•••••••• I•••term loan first lien$6.2M$4.8M
83c
12.00%
H••••• G••••• E••••••••• I•••term loan first lien$4.9M$4.8M
100c
12.50%
P••••••• S••••••• I•••term loan first lien$5.0M$4.7M
100c
12.50%
1••••• P•• L•••term loan first lien$5.3M$4.6M
100c
12.00%
S••• S••••••••• I•••term loan first lien$4.6M$4.5M
100c
11.50%
L•••••••• I•••term loan first lien$4.5M$4.3M
100c
11.30%
P•••••••• I•••term loan first lien$4.5M$4.3M
100c
12.50%
E•••••• H•••••• I•••term loan first lien$4.4M$4.2M
100c
12.00%
K••• H••••••• L••••••term loan first lien$4.4M$4.2M
100c
11.80%
D•••••••• I•••term loan first lien$5.6M$4.1M
100c
11.00%
C•••• G••••• I•••term loan first lien$3.8M$3.7M
100c
12.00%
C•••• G••••• I•••term loan first lien$3.8M$3.6M
100c
12.00%
O••• C•••••••••term loan first lien$3.7M$3.4M
100c
12.30%
i••••••••• I•••term loan first lien$3.4M$3.3M
100c
11.50%
U••• I•••term loan first lien$3.5M$3.3M
100c
11.50%
C••••••• I•••term loan first lien$3.6M$3.3M
100c
12.00%
L••••••• H••••••• I•••term loan first lien$4.0M$2.9M
76c
10.30%
H••••• G••••• E••••••••• I•••term loan first lien$3.0M$2.9M
100c
12.50%
R•••••• E•••••• I•••term loan first lien$3.0M$2.9M
100c
13.50%
R•••••• E•••••• I•••term loan first lien$3.0M$2.9M
100c
14.50%
T•• F••• P••••••• P•••term loan first lien$3.0M$2.9M
100c
12.00%
H••••• T••••••••• I•••term loan first lien$3.0M$2.9M
100c
11.50%
i••••••••• I•••term loan first lien$3.0M$2.8M
93c
12.30%
R•••••• E•••••• I•••term loan first lien$3.0M$2.7M
100c
12.00%
G••• C••••••• L••term loan first lien$2.8M$2.7M
100c
12.30%
C••••• C••••••• I•••term loan first lien$2.6M$2.6M
100c
12.00%
E••••••••• I•••term loan first lien$2.5M$2.4M
100c
11.50%
L••••• T••••••••• I•••term loan first lien$2.5M$2.4M
100c
12.00%
E••••••••• I•••term loan first lien$2.5M$2.4M
100c
11.50%
i••••••••• I•••term loan first lien$2.5M$2.4M
100c
11.50%
I•••••••• R•••••••• I•••term loan first lien$2.4M$2.3M
100c
12.00%
S•••••• S••••••• I•••term loan first lien$2.4M$2.2M
100c
11.50%
L•••••••• I•••term loan first lien$2.3M$2.2M
100c
11.30%
E••••••••• I•••term loan first lien$2.4M$2.1M
100c
11.50%
i••••••••• I•••term loan first lien$2.2M$2.1M
100c
11.50%
E••••• T••••••••• I•••term loan first lien$2.2M$2.1M
100c
12.00%
U•••• L••• I•••term loan first lien$2.2M$2.1M
100c
12.00%
U•••• L••• I•••term loan first lien$2.2M$2.1M
100c
12.00%
M••••• L•••• I•••term loan first lien$2.1M$2.0M
100c
11.00%
A••••• C•••••••••term loan first lien$2.0M$2.0M
100c
10.50%
C•••••••• I•••term loan first lien$2.0M$2.0M
100c
12.00%
S•••••••• I•••term loan first lien$2.0M$1.9M
100c
13.00%
L•••••••• I•••term loan first lien$2.0M$1.9M
100c
13.50%
A••••• C•••••••••term loan first lien$2.0M$1.9M
100c
10.50%
H•••••• A••••••••• I•••term loan first lien$1.9M$1.9M
100c
11.50%
G•• P•••••• I•••term loan first lien$1.9M$1.9M
100c
10.50%
R••••••••• I•••term loan first lien$1.9M$1.8M
100c
11.00%
B••••• I•••term loan first lien$1.9M$1.8M
100c
10.00%
i••••••••• I•••term loan first lien$1.9M$1.8M
100c
11.50%
E••••• T••••••••• I•••term loan first lien$1.9M$1.8M
100c
12.00%
T••••••••• I•••term loan first lien$1.8M$1.7M
100c
12.00%
H••••••• H•••••• I•••term loan first lien$1.8M$1.7M
100c
11.00%
C•••• I••••••• I•••term loan first lien$1.7M$1.7M
100c
12.00%
S• I••••••••• I•••term loan first lien$2.0M$1.7M
100c
13.50%
D•• S••••• I•••term loan first lien$2.0M$1.6M
100c
10.00%
H•••• H•••• I•••term loan first lien$1.6M$1.6M
100c
11.00%
B••••• I•••term loan first lien$1.6M$1.6M
100c
12.50%
V•••••••• I•••term loan first lien$1.6M$1.5M
100c
12.60%
V••• H••••••• L••••••term loan first lien$2.5M$1.5M
100c
12.00%
U•• D•••••• H•••••• I•••term loan first lien$1.6M$1.5M
100c
12.50%
L•••••••• I•••term loan first lien$1.5M$1.5M
100c
14.80%
S• I••••••••• I•••term loan first lien$1.5M$1.5M
100c
11.80%
M•••••• I•••term loan first lien$1.5M$1.4M
100c
10.50%
P•••• P•••••• I•••term loan first lien$1.5M$1.4M
100c
11.00%
C•••• I••••••• I•••term loan first lien$1.5M$1.4M
100c
12.00%
C••••• S••• I••term loan first lien$1.5M$1.4M
100c
11.00%
J••• M•••••• I•••term loan first lien$1.5M$1.4M
100c
12.00%
B•••••••• I•••term loan first lien$1.5M$1.4M
100c
12.50%
E•••••••• I•••term loan first lien$1.5M$1.4M
100c
12.00%
P•••• P•••••• I•••term loan first lien$1.5M$1.4M
100c
12.40%
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%
M••••••••• I•••term loan first lien$1.4M$1.4M
100c
11.50%
S•••••• S••••••• I•••term loan first lien$1.4M$1.4M
100c
11.50%
C••••• T••••••••• C••••term loan first lien$1.5M$1.4M
100c
13.50%
N••••••• E••••••••• I•••term loan first lien$1.4M$1.4M
100c
12.50%
A••••• I•••term loan first lien$1.5M$1.4M
100c
13.50%
R••••••••• I•••term loan first lien$1.4M$1.4M
100c
12.00%
V•••• H••••••• I•••term loan first lien$1.4M$1.3M
100c
11.80%
R•••••• I•••term loan first lien$1.4M$1.3M
100c
11.50%
G••••••••• I•••term loan first lien$1.3M$1.3M
100c
11.50%
O•••••••• I•••term loan first lien$1.4M$1.3M
100c
12.00%
C•••••• A•••••••• I•••term loan first lien$1.4M$1.3M
100c
12.00%
T••• I•••term loan first lien$1.3M$1.3M
100c
11.80%
Page 1 of 3Next
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