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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, 2024
204 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
P••••••••• T••••••••• I•••term loan first lien$570,567$552,869
100c
12.00%
T••• I•••term loan first lien$553,929$552,074
100c
11.80%
S• I••••••••• I•••term loan first lien$556,950$551,806
100c
11.80%
K••••• L•••••••• I•••term loan first lien$554,824$537,901
100c
11.50%
H•••• I•••term loan first lien$640,007$536,369
100c
13.50%
S•••• C•••• I•••term loan first lien$536,558$534,771
100c
13.50%
K••• H••••••• L••••••term loan first lien$534,742$532,713
100c
12.00%
C•••••• L••••••term loan first lien$547,848$527,903
100c
11.80%
O••• H••••••• C••term loan first lien$438,389$519,108
100c
11.30%
H•••• H••••••• I•••term loan first lien$552,873$511,033
100c
13.00%
S•••• T••••••••• I•••term loan first lien$549,941$501,613
100c
12.30%
T•• S••• a•• F••• F••• C•••••• L••term loan first lien$513,175$500,424
100c
12.30%
V••••• H•••••• I•••term loan first lien$711,734$492,537
82c
12.00%
S•••••••• I•••term loan first lien$500,000$490,698
100c
16.00%
C•••••• L••••••term loan first lien$500,000$489,665
100c
15.50%
F••• R••••••• I•••term loan first lien$485,259$479,094
100c
11.00%
C••••• S••• I••term loan first lien$476,250$476,246
100c
11.00%
J••• M•••••• I•••term loan first lien$472,221$463,655
100c
15.50%
T••• I•••term loan first lien$1.1M$455,433
45c
15.00%
A•••••••• T••••••••• I•••term loan first lien$474,906$453,468
100c
11.00%
F••• R••••••• I•••term loan first lien$455,972$450,605
100c
11.00%
O••• I•••term loan first lien$414,182$408,982
100c
14.80%
O•••••••• I•••term loan first lien$427,995$403,999
100c
13.50%
O••• I•••term loan first lien$413,034$395,808
100c
13.50%
R•••• T••••••••• I•••term loan first lien$400,737$395,440
100c
11.00%
F••• R••••••• I•••term loan first lien$395,419$391,434
100c
11.00%
R••••••••• U••• L••term loan first lien$420,011$391,302
100c
12.00%
H••••••••• I•••term loan first lien$379,983$379,983
100c
11.00%
H••••• T••••••••• I•••term loan first lien$373,998$370,428
100c
12.00%
J•••• P••••••• I•••term loan first lien$375,000$367,519
100c
15.80%
F••••••• I•••term loan first lien$375,000$366,177
100c
11.80%
8• C•••••••••term loan first lien$390,777$363,969
94c
12.00%
G••••••• I•••term loan first lien$368,199$362,982
100c
11.50%
H••••••••• I•••term loan first lien$379,983$362,527
100c
11.00%
G••••••• I•••term loan first lien$365,248$357,162
100c
11.50%
G•••••• P••••••••• I•••term loan first lien$360,529$353,244
100c
11.00%
G••••••••• I•••term loan first lien$350,430$349,588
100c
11.50%
J•••• P••••••• I•••term loan first lien$351,321$344,575
100c
15.30%
W•••••• I•••term loan first lien$348,949$344,532
100c
12.00%
F••• R••••••• I•••term loan first lien$364,286$342,916
100c
11.00%
W••••• L•••• I•••term loan first lien$700,000$336,687
48c
12.00%
M••••••••• I•••term loan first lien$328,972$326,069
100c
11.00%
L•••••••• S•••••••• P••• L•••term loan first lien$364,917$322,358
100c
11.50%
V•••••• H•••••••• I•••term loan first lien$318,378$312,758
100c
12.30%
U•••• B••••••• C••term loan first lien$1.7M$299,373
18c
12.00%
F••••••• I•••term loan first lien$302,845$297,790
100c
11.80%
K••• H••••••• L••••••term loan first lien$281,839$279,518
100c
12.00%
B•••••••• I•••term loan first lien$275,297$275,297
100c
11.30%
H•••••• H••••• I•••term loan first lien$1.1M$266,176
27c
13.20%
M••••••••• I•••term loan first lien$264,835$263,073
100c
11.50%
F••••••• I•••term loan first lien$250,000$244,977
100c
11.80%
V•••••••• I•••term loan first lien$221,799$221,799
100c
15.00%
H•••• H•••• I•••term loan first lien$223,224$221,480
100c
11.00%
G•••••• I•••term loan first lien$221,737$219,062
100c
11.80%
O•••••••• I•••term loan first lien$214,791$214,791
100c
15.50%
K••• I•••term loan first lien$228,755$211,993
100c
14.00%
C•••••••• I•••term loan first lien$214,594$211,263
100c
15.00%
V•••••••• I•••term loan first lien$221,719$205,153
100c
14.80%
C•••••• L••••••term loan first lien$206,747$203,867
100c
14.00%
Y••• B••••••••• I•••term loan first lien$221,231$202,550
100c
13.30%
T•••••••• I•••term loan first lien$214,538$202,209
100c
12.50%
B•••••••• I•••term loan first lien$199,680$195,618
100c
14.80%
C•••••••• I•••term loan first lien$207,205$180,734
100c
15.00%
W••••••••• I•••term loan first lien$455,117$168,083
49c
12.00%
B•••••••• B••••••••• I•••term loan first lien$275,000$166,170
65c
6.00%
G•••••• I•••term loan first lien$163,917$162,951
100c
11.80%
F••••••• I•••term loan first lien$169,684$153,496
100c
11.80%
P••••••••• I•••term loan first lien$153,549$153,135
100c
12.00%
T••• I•••term loan first lien$150,590$149,147
100c
11.80%
R•••• T••••••••• I•••term loan first lien$167,673$141,294
100c
11.00%
Z••• T••••••••• I•••term loan first lien$141,106$141,105
100c
10.00%
Z••• T••••••••• I•••term loan first lien$141,106$133,944
100c
10.00%
P••••••••• i•••term loan first lien$126,050$120,557
100c
12.00%
B••••••••• I•••term loan first lien$117,674$116,753
100c
18.30%
N•••••• H•••••• I•••term loan first lien$113,020$111,612
100c
12.30%
M••••••••• I•••term loan first lien$112,145$111,494
100c
11.50%
P••••••••• i•••term loan first lien$110,778$107,564
100c
14.30%
P••••••••• i•••term loan first lien$95,798$87,076
100c
13.80%
P••••••••• i•••term loan first lien$83,495$82,112
100c
12.00%
P••••••••• i•••term loan first lien$71,321$70,308
100c
12.00%
P•••••• H•••••••• I•••term loan first lien$69,974$69,732
100c
12.00%
A•••••• S••••••••• I•••term loan first lien$69,648$69,428
100c
10.80%
A•••••• S••••••••• I•••term loan first lien$69,613$69,099
100c
10.80%
W•••• W••••• I•• I•••term loan first lien$56,412$56,412
100c
12.00%
W•••• W••••• I•• I•••term loan first lien$56,347$56,347
100c
12.00%
W•••• W••••• I•• I•••term loan first lien$56,343$54,579
100c
12.00%
K•••• M••••••• I• L••term loan first lien$78,311$53,513
92c
11.50%
O••• H•••••• I•••term loan first lien$52,354$52,206
100c
12.00%
P•••••• I•••term loan first lien$2.0M$50,721
3c
12.50%
T•••••••• I•••term loan first lien$37,771$36,648
100c
12.00%
M••••••••• I•••term loan first lien$28,325$28,235
100c
12.50%
R•••• I•••term loan first lien$11.3M$23,751
0c
12.50%
S••• A•••••• I•••term loan first lien$4.9M$0
0c
18.00%
S•••••• C•••• I•••term loan first lien$597,411$0
0c
12.30%
Y•• H•••••• I•••term loan first lien$1.8M$0
0c
12.00%
N•••••••• I•••term loan first lien$2.3M$0
0c
18.00%
M••••••••• C••••••••• I•••term loan first lien$10.0M$0
0c
18.00%
T••••••••• I•••term loan first lien$628,478$0
0c
18.00%
L••••• T••••••••• I•••term loan first lien$3.4M$0
0c
12.00%
S•• O••• L••term loan first lien$29,942$0
0c
8.00%
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