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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
R•••• T••••••••• I•••term loan first lien$1.3M$1.3M
100c
11.00%
P••••• I•••term loan first lien$1.3M$1.3M
100c
12.80%
K••• H••••••• L••••••term loan first lien$1.3M$1.3M
100c
12.00%
V•••• H••••••• I•••term loan first lien$1.4M$1.3M
100c
11.80%
i••••••••• I•••term loan first lien$1.3M$1.3M
100c
11.50%
T•••• H••••• • S••••••• T••••••••• I•••term loan first lien$1.3M$1.3M
100c
12.00%
I••••• R••••••• G••••• L•••term loan first lien$1.3M$1.3M
100c
13.00%
M••••••••• I•••term loan first lien$1.3M$1.2M
100c
11.00%
G•• P•••••• I•••term loan first lien$1.3M$1.2M
100c
10.50%
P••••• I•••term loan first lien$1.3M$1.2M
100c
12.50%
M•••••• I•••term loan first lien$1.3M$1.2M
100c
12.00%
P•••• P•••••• I•••term loan first lien$1.2M$1.2M
100c
11.00%
R•••••• I•••term loan first lien$1.3M$1.2M
100c
11.50%
T•• S••• a•• F••• F••• C•••••• L••term loan first lien$1.2M$1.2M
100c
12.30%
B•••• C••• T••••••••• I•••term loan first lien$1.2M$1.2M
100c
12.00%
H••••• T••••••••• I•••term loan first lien$1.2M$1.1M
100c
12.00%
L••••• T••••••••• I•••term loan first lien$1.2M$1.1M
100c
12.00%
P•••••• I•••term loan first lien$2.0M$1.1M
71c
12.50%
K••• H••••••• L••••••term loan first lien$1.1M$1.1M
100c
12.00%
C••••• T••••••••• C••••term loan first lien$1.0M$977,199
100c
15.00%
L•••••••• S•••••••• P••• L•••term loan first lien$1.0M$977,102
100c
12.80%
R••••••••• I•••term loan first lien$989,529$975,268
100c
11.00%
R••••••••• I•••term loan first lien$989,944$972,930
100c
11.00%
B•• R•• S••••••• I•••term loan first lien$994,250$969,230
100c
11.50%
S••• A••••••••• C•••••• I•••term loan first lien$1.0M$957,625
100c
13.50%
J•••• P••••••• I•••term loan first lien$1.0M$940,641
100c
13.00%
R••• G••••••• I•••term loan first lien$971,392$936,931
100c
11.80%
S••• S••••••••• I•••term loan first lien$942,772$929,344
100c
11.50%
F••••••••• T••••••••• I•••term loan first lien$1.0M$925,694
100c
13.50%
H•••• I•••term loan first lien$1.0M$916,913
100c
13.50%
P•••• F•••• I•••term loan first lien$941,060$911,857
100c
11.50%
W••••• L•••• I•••term loan first lien$1.0M$898,983
100c
12.00%
3• B•• H•••••••• I•••term loan first lien$991,516$896,247
100c
11.50%
W•••••• I•••term loan first lien$942,206$890,763
100c
12.00%
P•••• F•••• I•••term loan first lien$873,411$859,623
100c
11.50%
H•••• H•••• I•••term loan first lien$857,377$836,150
100c
11.00%
P••••••••• T••••••••• I•••term loan first lien$853,270$813,895
100c
12.00%
B••••••• C•••• L••term loan first lien$1.1M$783,006
69c
12.00%
i••••••••• I•••term loan first lien$1.4M$772,242
100c
11.50%
T••• I•••term loan first lien$793,077$763,688
100c
11.80%
S••• A••••••••• C•••••• I•••term loan first lien$750,000$742,699
100c
14.00%
B••••••• C•••• L••term loan first lien$1.1M$723,719
69c
12.00%
T••••••• A•••• I•••term loan first lien$750,000$723,322
100c
12.00%
K••••• I•••term loan first lien$752,761$722,112
100c
11.50%
C•••••• L••••••term loan first lien$750,000$712,516
100c
11.80%
S••••• M•••••• I•••term loan first lien$728,328$707,002
100c
11.00%
G•••••• I•••term loan first lien$750,000$703,496
100c
14.00%
G••••••••• I•••term loan first lien$700,470$694,412
100c
11.50%
B••••••• C•••• L••term loan first lien$1.0M$692,808
69c
14.80%
P•••••• H•••••••• I•••term loan first lien$669,372$656,964
100c
12.00%
C••••• C••••••• I•••term loan first lien$656,709$652,418
100c
12.00%
S•••• C•••• I•••term loan first lien$654,024$650,077
100c
13.50%
G•••••• P••••••••• I•••term loan first lien$658,043$634,460
100c
11.00%
A••••• I•••term loan first lien$645,978$627,158
100c
12.30%
A•••••••• I•••term loan first lien$625,000$625,000
100c
11.00%
B•• R•• S••••••• I•••term loan first lien$627,396$620,974
100c
11.50%
B••••••• C•••• L••term loan first lien$1.0M$611,923
69c
13.30%
G••••••• I•••term loan first lien$617,973$603,466
100c
11.50%
S•••• T••••••••• I•••term loan first lien$623,749$594,063
100c
12.30%
P••••••• S••••••• I•••term loan first lien$595,548$591,312
100c
11.50%
A•••••••• I•••term loan first lien$625,000$585,756
100c
11.00%
O••••••••• I•••term loan first lien$586,803$583,023
100c
12.00%
O••••••••• I•••term loan first lien$586,492$575,096
100c
12.00%
R•••••• E•••••• I•••term loan first lien$566,104$563,028
100c
12.30%
H•••• H••••••• I•••term loan first lien$625,000$557,311
100c
13.00%
C•••••••• I•••term loan first lien$594,515$557,251
100c
12.00%
W•••••• I•••term loan first lien$565,404$553,887
100c
12.00%
W•••••••• I•••term loan first lien$558,193$552,779
100c
12.00%
V••••• H•••••• I•••term loan first lien$697,710$530,000
100c
12.00%
G•••••• I•••term loan first lien$530,957$516,681
100c
11.80%
N•• L••• H•••••• I•••term loan first lien$1.5M$502,190
35c
11.50%
H••••••••• I•••term loan first lien$500,000$500,000
100c
11.00%
J•••••• B•••••••• I•••term loan first lien$500,000$499,994
100c
11.00%
C••••• S••• I••term loan first lien$500,000$499,993
100c
11.00%
F••• R••••••• I•••term loan first lien$500,000$492,841
100c
11.00%
F••• R••••••• I•••term loan first lien$500,000$491,327
100c
11.00%
O••• I•••term loan first lien$500,000$490,997
100c
14.80%
F••• R••••••• I•••term loan first lien$500,000$490,521
100c
11.00%
R••• G••••••• I•••term loan first lien$500,000$488,778
100c
11.80%
H•••• I•••term loan first lien$500,000$482,017
100c
15.50%
O••• I•••term loan first lien$500,000$470,462
100c
13.50%
R•••• T••••••••• I•••term loan first lien$478,000$470,047
100c
11.00%
J•••••• B•••••••• I•••term loan first lien$500,000$469,458
100c
11.00%
H••••••••• I•••term loan first lien$500,000$468,059
100c
11.00%
O••••••• I•••term loan first lien$470,999$464,222
100c
11.50%
G••••••• I•••term loan first lien$476,563$462,653
100c
11.50%
M••••••••• I•••term loan first lien$465,979$460,116
100c
11.00%
O•••••••• I•••term loan first lien$500,000$460,065
100c
13.50%
F••• R••••••• I•••term loan first lien$500,000$459,942
100c
11.00%
O••••••• I•••term loan first lien$470,999$450,926
100c
11.50%
V•••••• H•••••••• I•••term loan first lien$456,754$445,136
100c
12.30%
M••••••••• I•••term loan first lien$429,955$422,028
100c
11.50%
L•••••••• S•••••••• P••• L•••term loan first lien$500,000$421,697
100c
11.50%
N•••••• H•••••• I•••term loan first lien$432,133$415,220
100c
12.30%
M••••••••• I•••term loan first lien$406,474$402,321
100c
11.50%
R••••••••• I•••term loan first lien$397,191$390,813
100c
12.00%
F•• W••••• I•••term loan first lien$379,769$376,080
100c
11.80%
R••••••••• U••• L••term loan first lien$402,811$374,604
97c
12.00%
F••••••• I•••term loan first lien$375,000$366,779
100c
11.80%
P••••••••• I•••term loan first lien$367,349$365,124
100c
12.00%
Page 2 of 3PreviousNext
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