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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 Dec 31, 2023
259 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
B••••••• C•••• L••term loan first lien$4.3M$970,983
25c
12.90%
M••••••••• I•••term loan first lien$986,918$966,038
100c
11.00%
F••••••••• T••••••••• I•••term loan first lien$1.0M$943,769
100c
13.50%
R•••••• I•••term loan first lien$988,490$929,802
100c
11.50%
S••• A••••••••• C•••••• I•••term loan first lien$943,438$912,621
100c
13.50%
i••••••••• I•••term loan first lien$927,277$910,395
100c
11.50%
J•••••• B•••••••• I•••term loan first lien$942,299$901,246
100c
12.50%
J•••••• B•••••••• I•••term loan first lien$942,299$901,246
100c
12.50%
I••••• R••••••• G••••• L•••term loan first lien$935,240$900,588
100c
13.00%
C••••• T••••••••• C••••term loan first lien$916,006$899,683
100c
15.00%
C••••• C••••••• I•••term loan first lien$901,528$896,305
100c
12.00%
M••••••••• I•••term loan first lien$904,417$894,738
100c
11.50%
S• I••••••••• I•••term loan first lien$878,326$866,253
100c
11.80%
P•••• P•••••• I•••term loan first lien$873,346$858,280
100c
11.00%
G•• P•••••• I•••term loan first lien$855,052$842,954
100c
10.50%
T••• I•••term loan first lien$818,984$815,087
100c
11.80%
K••• H••••••• L••••••term loan first lien$798,776$794,348
100c
12.00%
H•••••• H••••• I•••term loan first lien$1.1M$793,209
81c
13.20%
H•••••• H••••• I•••term loan first lien$1.1M$793,209
81c
13.20%
S••• S••••••••• I•••term loan first lien$797,813$788,287
100c
11.50%
P•••• P•••••• I•••term loan first lien$789,927$784,016
100c
11.00%
H•••• I•••term loan first lien$826,350$769,711
100c
13.50%
J•••• P••••••• I•••term loan first lien$802,628$764,447
100c
13.00%
T•• S••• a•• F••• F••• C•••••• L••term loan first lien$758,271$731,681
100c
12.30%
S••• A••••••••• C•••••• I•••term loan first lien$728,903$723,510
100c
14.00%
G••••••••• I•••term loan first lien$690,974$688,087
100c
11.50%
G••••••••• I•••term loan first lien$690,974$688,087
100c
11.50%
P•••• F•••• I•••term loan first lien$690,634$682,050
100c
11.50%
W•••••• I•••term loan first lien$705,341$676,303
100c
12.00%
T••••••• A•••• I•••term loan first lien$676,801$650,923
100c
12.00%
B•••• C••• T••••••••• I•••term loan first lien$738,617$649,416
90c
12.00%
P••••••••• T••••••••• I•••term loan first lien$667,730$643,612
100c
12.00%
H••••• T••••••••• I•••term loan first lien$644,888$635,125
100c
12.00%
K••••• I•••term loan first lien$656,577$633,002
100c
11.50%
K••••• L•••••••• I•••term loan first lien$656,577$633,002
100c
11.50%
G•••••• I•••term loan first lien$664,671$631,909
100c
14.00%
P•••• F•••• I•••term loan first lien$645,144$631,219
100c
11.50%
A•••••••• I•••term loan first lien$625,000$625,000
100c
11.00%
S•••• C•••• I•••term loan first lien$606,861$604,374
100c
13.50%
S•••• C•••• I•••term loan first lien$606,861$604,374
100c
13.50%
i••••••••• I•••term loan first lien$904,731$600,569
100c
11.50%
C•••••• L••••••term loan first lien$617,298$592,002
100c
11.80%
H•••• H••••••• I•••term loan first lien$607,201$556,766
100c
13.00%
V••••• H•••••• I•••term loan first lien$711,734$553,968
94c
12.00%
K••• H••••••• L••••••term loan first lien$555,388$547,459
100c
12.00%
R••• G••••••• I•••term loan first lien$792,662$537,948
70c
11.80%
A•••••••• I•••term loan first lien$532,573$505,660
100c
11.00%
C••••• S••• I••term loan first lien$500,000$499,995
100c
11.00%
O••• H••••••• C••term loan first lien$482,259$499,616
100c
11.30%
O••• H••••••• C••term loan first lien$482,259$499,616
100c
11.30%
W••••• L•••• I•••term loan first lien$700,000$498,994
71c
12.00%
F••• R••••••• I•••term loan first lien$500,000$493,526
100c
11.00%
F••• R••••••• I•••term loan first lien$500,000$492,701
100c
11.00%
J••• M•••••• I•••term loan first lien$500,000$489,833
100c
15.50%
J••• M•••••• I•••term loan first lien$500,000$489,833
100c
15.50%
S•••••••• I•••term loan first lien$500,000$489,453
100c
16.00%
C•••••• L••••••term loan first lien$500,000$488,425
100c
15.50%
H•••• I•••term loan first lien$486,194$472,810
100c
15.50%
O••• I•••term loan first lien$457,878$451,414
100c
14.80%
G•••••• P••••••••• I•••term loan first lien$462,427$450,632
100c
11.00%
G••••••• I•••term loan first lien$453,850$445,992
100c
11.50%
O•••••••• I•••term loan first lien$471,719$442,548
100c
13.50%
F••• R••••••• I•••term loan first lien$441,105$436,137
100c
11.00%
O••• I•••term loan first lien$457,247$436,107
100c
13.50%
H•••• H•••• I•••term loan first lien$440,421$434,449
100c
11.00%
H••••••••• I•••term loan first lien$426,099$426,099
100c
11.00%
R•••• T••••••••• I•••term loan first lien$430,449$424,310
100c
11.00%
W•••••• I•••term loan first lien$423,265$416,804
100c
12.00%
H••••••••• I•••term loan first lien$426,099$404,188
100c
11.00%
G••••••• I•••term loan first lien$403,473$393,586
100c
11.50%
R••••••••• U••• L••term loan first lien$422,364$389,326
100c
12.00%
F••• R••••••• I•••term loan first lien$410,822$383,743
100c
11.00%
O••••••• I•••term loan first lien$380,556$376,162
100c
11.50%
M••••••••• I•••term loan first lien$375,896$372,103
100c
11.00%
O••••••• I•••term loan first lien$380,556$367,489
100c
11.50%
J•••• P••••••• I•••term loan first lien$375,000$366,817
100c
15.30%
J•••• P••••••• I•••term loan first lien$375,000$366,153
100c
15.80%
F••••••• I•••term loan first lien$375,000$364,987
100c
11.80%
T••• I•••term loan first lien$371,042$364,011
100c
11.80%
V•••••• H•••••••• I•••term loan first lien$365,971$358,553
100c
12.30%
L•••••••• S•••••••• P••• L•••term loan first lien$411,295$357,702
100c
11.50%
S•••• T••••••••• I•••term loan first lien$367,247$356,513
100c
12.30%
R••• G••••••• I•••term loan first lien$500,000$343,184
70c
11.80%
F••••••• I•••term loan first lien$330,628$324,581
100c
11.80%
G•••••• I•••term loan first lien$327,838$322,236
100c
11.80%
M••••••••• I•••term loan first lien$313,405$310,943
100c
11.50%
A•••••• I•••term loan first lien$321,219$298,126
100c
12.00%
T•••••••• I•••term loan first lien$316,907$291,452
100c
12.50%
U•••• B••••••• C••term loan first lien$1.7M$284,813
17c
12.00%
P•••••• H•••••••• I•••term loan first lien$275,766$273,403
100c
12.00%
B•••••••• I•••term loan first lien$267,698$267,698
100c
11.30%
F••••••• I•••term loan first lien$250,000$244,279
100c
11.80%
8• C•••••••••term loan first lien$390,777$243,768
63c
12.00%
V•••••••• I•••term loan first lien$243,054$243,054
100c
15.00%
O•••••••• I•••term loan first lien$236,209$236,209
100c
15.50%
C•••••••• I•••term loan first lien$236,122$232,070
100c
15.00%
K••• I•••term loan first lien$250,000$229,967
100c
14.00%
P••••••••• I•••term loan first lien$226,953$226,084
100c
12.00%
P••••••••• I•••term loan first lien$226,953$226,084
100c
12.00%
C•••••• L••••••term loan first lien$228,750$225,211
100c
14.00%
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