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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 Sep 30, 2023
255 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
R•••••• I•••term loan first lien$1.1M$1.1M
100c
11.50%
K••• H••••••• L••••••term loan first lien$1.1M$1.0M
100c
12.00%
G•• P•••••• I•••term loan first lien$1.1M$1.0M
100c
10.50%
G••••••••• I•••term loan first lien$1.0M$1.0M
100c
11.50%
S• I••••••••• I•••term loan first lien$984,625$984,625
100c
13.50%
P•••• P•••••• I•••term loan first lien$991,952$982,728
100c
11.00%
C••••• T••••••••• C••••term loan first lien$1.0M$980,444
100c
15.00%
L•••••••• S•••••••• P••• L•••term loan first lien$1.0M$979,431
100c
12.80%
S••• A••••••••• C•••••• I•••term loan first lien$1.0M$963,349
100c
13.50%
T•• S••• a•• F••• F••• C•••••• L••term loan first lien$996,012$951,158
100c
12.30%
B•••• C••• T••••••••• I•••term loan first lien$970,485$946,034
100c
12.00%
B••••••• C•••• L••term loan first lien$4.3M$939,436
24c
12.90%
F••••••••• T••••••••• I•••term loan first lien$1.0M$934,572
100c
13.50%
J•••••• B•••••••• I•••term loan first lien$971,105$893,937
100c
12.50%
H••••• T••••••••• I•••term loan first lien$907,811$889,079
100c
12.00%
W••••• L•••• I•••term loan first lien$1.0M$866,267
100c
12.00%
S••• S••••••••• I•••term loan first lien$871,329$859,916
100c
11.50%
R••• G••••••• I•••term loan first lien$883,494$855,110
100c
11.80%
J•••• P••••••• I•••term loan first lien$903,093$854,815
100c
13.00%
H•••• I•••term loan first lien$914,822$845,464
100c
13.50%
K••• H••••••• L••••••term loan first lien$820,893$804,302
100c
12.00%
W•••••• I•••term loan first lien$825,541$785,955
100c
12.00%
P•••• F•••• I•••term loan first lien$795,218$774,267
100c
11.50%
P•••• F•••• I•••term loan first lien$783,330$772,271
100c
11.50%
S••• A••••••••• C•••••• I•••term loan first lien$750,000$743,640
100c
14.00%
P••••••••• T••••••••• I•••term loan first lien$762,030$730,694
100c
12.00%
i••••••••• I•••term loan first lien$1.2M$697,924
100c
11.50%
G•••••• I•••term loan first lien$729,187$689,680
100c
14.00%
K••••• L•••••••• I•••term loan first lien$705,357$678,003
100c
11.50%
T••••••• A•••• I•••term loan first lien$699,505$655,808
100c
12.00%
C•••••• L••••••term loan first lien$684,743$653,610
100c
11.80%
S••••• M•••••• I•••term loan first lien$661,848$644,311
100c
11.00%
H•••• H•••• I•••term loan first lien$651,752$639,234
100c
11.00%
S•••• C•••• I•••term loan first lien$630,838$627,624
100c
13.50%
A•••••••• I•••term loan first lien$625,000$625,000
100c
11.00%
T••• I•••term loan first lien$585,144$568,698
100c
11.80%
H•••• H••••••• I•••term loan first lien$625,000$565,763
100c
13.00%
N••••••• E••••••••• I•••term loan first lien$566,305$563,833
100c
12.50%
A•••••••• I•••term loan first lien$588,687$555,825
100c
11.00%
G•••••• P••••••••• I•••term loan first lien$561,574$544,325
100c
11.00%
G••••••• I•••term loan first lien$537,086$526,120
100c
11.50%
V••••• H•••••• I•••term loan first lien$697,710$520,399
94c
12.00%
C••••• S••• I••term loan first lien$500,000$499,994
100c
11.00%
F••• R••••••• I•••term loan first lien$500,000$492,416
100c
11.00%
O••• I•••term loan first lien$500,000$492,164
100c
14.80%
F••• R••••••• I•••term loan first lien$500,000$491,600
100c
11.00%
R••• G••••••• I•••term loan first lien$500,000$489,933
100c
11.80%
J••• M•••••• I•••term loan first lien$500,000$488,283
100c
15.50%
S•••••••• I•••term loan first lien$500,000$488,262
100c
16.00%
W•••••• I•••term loan first lien$495,395$486,560
100c
12.00%
H•••• I•••term loan first lien$500,000$484,277
100c
15.50%
F••• R••••••• I•••term loan first lien$485,555$479,519
100c
11.00%
S•••• T••••••••• I•••term loan first lien$497,452$478,290
100c
12.30%
O••• I•••term loan first lien$500,000$474,665
100c
13.50%
H••••••••• I•••term loan first lien$470,968$470,968
100c
11.00%
P•••••• H•••••••• I•••term loan first lien$475,506$469,042
100c
12.00%
O•••••••• I•••term loan first lien$500,000$465,379
100c
13.50%
R•••• T••••••••• I•••term loan first lien$459,358$452,333
100c
11.00%
H••••••••• I•••term loan first lien$470,968$444,217
100c
11.00%
C••••• C••••••• I•••term loan first lien$444,307$442,262
100c
12.00%
G••••••• I•••term loan first lien$440,618$428,794
100c
11.50%
F••• R••••••• I•••term loan first lien$456,099$422,800
100c
11.00%
G•••••• I•••term loan first lien$430,882$421,390
100c
11.80%
O••••••• I•••term loan first lien$426,501$420,974
100c
11.50%
M••••••••• I•••term loan first lien$421,554$416,772
100c
11.00%
O••••••• I•••term loan first lien$426,501$410,096
100c
11.50%
V•••••• H•••••••• I•••term loan first lien$412,133$402,719
100c
12.30%
L•••••••• S•••••••• P••• L•••term loan first lien$456,363$390,868
100c
11.50%
H•••••• H••••• I•••term loan first lien$1.1M$389,506
40c
13.20%
8• C•••••••••term loan first lien$390,777$386,278
100c
12.00%
A•••••• I•••term loan first lien$372,171$375,537
100c
12.00%
O••••••••• I•••term loan first lien$372,207$370,598
100c
12.00%
A••••• I•••term loan first lien$374,744$367,834
100c
12.30%
O••••••••• I•••term loan first lien$372,010$367,145
100c
12.00%
J•••• P••••••• I•••term loan first lien$375,000$365,423
100c
15.30%
J•••• P••••••• I•••term loan first lien$375,000$364,847
100c
15.80%
M••••••••• I•••term loan first lien$360,605$357,344
100c
11.50%
F••••••• I•••term loan first lien$357,609$350,506
100c
11.80%
T••• I•••term loan first lien$375,000$341,147
100c
14.30%
M••••••••• I•••term loan first lien$327,035$322,361
100c
11.50%
N•••••• H•••••• I•••term loan first lien$328,986$318,969
100c
12.30%
R••••••••• U••• L••term loan first lien$326,985$314,986
100c
12.00%
T••• I•••term loan first lien$312,500$304,994
100c
15.30%
P••••••••• I•••term loan first lien$298,199$296,723
100c
12.00%
U•••• B••••••• C••term loan first lien$1.7M$284,813
17c
12.00%
T•••••••• I•••term loan first lien$321,899$282,536
100c
12.50%
I••••••••• F•••• C•••••••••term loan first lien$281,981$274,764
100c
12.00%
G•••••• I•••term loan first lien$265,476$263,003
100c
11.80%
O••• H••••••• C••term loan first lien$264,889$262,269
100c
11.30%
B•••••••• I•••term loan first lien$260,308$260,308
100c
11.30%
O••• H••••••• C••term loan first lien$264,774$257,001
100c
11.30%
V•••••••• I•••term loan first lien$250,000$250,000
100c
15.00%
O•••••••• I•••term loan first lien$250,000$250,000
100c
15.50%
C•••••• L••••••term loan first lien$250,000$245,752
100c
14.00%
C•••••••• I•••term loan first lien$250,000$245,186
100c
15.00%
F••••••• I•••term loan first lien$250,000$243,603
100c
11.80%
B•••••••• I•••term loan first lien$243,132$237,062
100c
14.80%
A••••• M••••••• I•••term loan first lien$398,742$231,679
67c
18.00%
K••• I•••term loan first lien$250,000$226,748
100c
14.00%
V•••••••• I•••term loan first lien$250,000$226,668
100c
14.80%
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