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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, 2024
178 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
S••••••••• L••••• P•••••••• L••term loan first lien$13.7M$11.8M
92c
12.50%
C••••• C••••••• I•••term loan first lien$10.8M$10.6M
100c
11.80%
Q•••••••• C••••term loan first lien$10.7M$10.2M
100c
12.00%
R•••••• E•••••• I•••term loan first lien$8.9M$8.7M
100c
13.50%
M•••• L•••• I•••term loan first lien$7.2M$7.0M
100c
13.30%
K•••• K••••• I•••term loan first lien$7.0M$6.7M
100c
13.00%
Z••••• I•••term loan first lien$5.9M$5.8M
100c
11.50%
R••••••••• I•••term loan first lien$5.6M$5.4M
100c
11.30%
Z••••• I•••term loan first lien$4.2M$4.0M
100c
11.50%
U•••• L••• I•••term loan first lien$3.8M$3.7M
100c
13.50%
P••••••• S••••••• I•••term loan first lien$3.7M$3.6M
100c
12.50%
D•••••••• I•••term loan first lien$5.4M$3.5M
100c
11.00%
P••••••• S••••••• I•••term loan first lien$3.5M$3.4M
100c
12.50%
H•••• I•••term loan first lien$3.3M$3.1M
100c
12.00%
E••••• T••••••••• I•••term loan first lien$3.0M$2.8M
94c
12.00%
P•••• P•••••• I•••term loan first lien$2.9M$2.8M
100c
11.80%
C•••• I••••••• I•••term loan first lien$2.8M$2.8M
100c
12.00%
i••••••••• I•••term loan first lien$3.0M$2.8M
93c
12.30%
C••••••• I•••term loan first lien$2.8M$2.7M
100c
11.80%
S••• S••••••••• I•••term loan first lien$2.7M$2.7M
100c
11.50%
U••• I•••term loan first lien$2.8M$2.7M
100c
11.50%
H••••• G••••• E••••••••• I•••term loan first lien$2.6M$2.6M
100c
12.50%
K••• H••••••• L••••••term loan first lien$2.5M$2.4M
100c
11.80%
T••••••••• I•••term loan first lien$2.3M$2.3M
100c
12.50%
P•••••••• I•••term loan first lien$2.2M$2.1M
100c
12.50%
H••••• T••••••••• I•••term loan first lien$2.2M$2.1M
100c
11.50%
L••••••• H••••••• I•••term loan first lien$4.0M$2.0M
53c
10.30%
G••• C••••••• L••term loan first lien$2.2M$2.0M
100c
12.30%
1••••• P•• L•••term loan first lien$5.3M$2.0M
40c
12.00%
T•• F••• P••••••• P•••term loan first lien$2.3M$1.9M
85c
15.00%
E•••••• H•••••• I•••term loan first lien$1.9M$1.8M
100c
12.00%
S•••••••• I•••term loan first lien$1.7M$1.7M
100c
13.00%
B••••• I•••term loan first lien$1.6M$1.6M
100c
12.50%
C••••••• I•••term loan first lien$1.6M$1.5M
100c
12.00%
I•••••••• R•••••••• I•••term loan first lien$1.5M$1.5M
100c
12.00%
S• I••••••••• I•••term loan first lien$1.6M$1.4M
100c
13.50%
L•••••••• I•••term loan first lien$1.5M$1.4M
100c
13.50%
A••••• C•••••••••term loan first lien$1.4M$1.4M
100c
10.50%
E•••••••• I•••term loan first lien$1.4M$1.4M
100c
12.00%
L•••••••• I•••term loan first lien$1.4M$1.4M
100c
14.80%
A••••• I•••term loan first lien$1.4M$1.3M
100c
13.50%
A••••• C•••••••••term loan first lien$1.4M$1.3M
100c
10.50%
U•• D•••••• H•••••• I•••term loan first lien$1.4M$1.3M
100c
12.50%
C•••••• A•••••••• I•••term loan first lien$1.4M$1.3M
100c
12.00%
H••••• G••••• E••••••••• I•••term loan first lien$1.3M$1.3M
100c
12.50%
J••• M•••••• I•••term loan first lien$1.3M$1.2M
100c
12.00%
V••• H••••••• L••••••term loan first lien$2.5M$1.2M
100c
12.00%
B••••• I•••term loan first lien$1.7M$1.1M
64c
10.00%
M••••• L•••• I•••term loan first lien$1.1M$1.1M
100c
11.00%
H••••••• H•••••• I•••term loan first lien$1.1M$1.1M
100c
11.00%
C••••• S••• I••term loan first lien$1.1M$1.1M
100c
11.00%
D•• S••••• I•••term loan first lien$1.4M$1.0M
100c
10.00%
B•••••••• I•••term loan first lien$1.1M$1.0M
100c
12.50%
R•••• T••••••••• I•••term loan first lien$1.0M$1.0M
100c
11.00%
A•••••••• I•••term loan first lien$1.1M$1.0M
100c
11.00%
O•••••••• I•••term loan first lien$1.0M$994,158
100c
12.00%
B••••••• C•••• L••term loan first lien$4.3M$970,984
25c
12.90%
S• I••••••••• I•••term loan first lien$960,229$960,229
100c
13.50%
A••••• I•••term loan first lien$1.0M$956,933
100c
12.80%
V•••• H••••••• I•••term loan first lien$970,037$954,358
100c
11.80%
L•••••••• S•••••••• P••• L•••term loan first lien$942,906$929,753
100c
12.80%
V•••• H••••••• I•••term loan first lien$970,037$926,075
100c
11.80%
J•• M•••••••• I••term loan first lien$954,045$908,314
100c
12.00%
S• I••••••••• I•••term loan first lien$903,475$903,475
100c
13.50%
C••••• T••••••••• C••••term loan first lien$912,458$880,269
100c
13.50%
H•••• H•••• I•••term loan first lien$856,352$852,585
100c
11.00%
P••••• I•••term loan first lien$788,234$788,234
100c
12.80%
F••••••••• T••••••••• I•••term loan first lien$826,379$788,201
100c
13.50%
H••••••••• I•••term loan first lien$809,810$779,055
100c
12.30%
P••••• I•••term loan first lien$787,171$759,952
100c
12.50%
S••• A••••••••• C•••••• I•••term loan first lien$765,808$745,654
100c
13.50%
T•••• H••••• • S••••••• T••••••••• I•••term loan first lien$756,281$740,314
100c
12.00%
C•••• C••• H•••••••• I•••term loan first lien$750,000$734,522
100c
8.50%
C••••• T••••••••• C••••term loan first lien$738,592$728,094
100c
15.00%
M••••••••• I•••term loan first lien$693,538$683,126
100c
11.00%
O••••••• I•••term loan first lien$730,049$672,523
90c
11.50%
G•• P•••••• I•••term loan first lien$657,713$654,643
100c
10.50%
B•••• C••• T••••••••• I•••term loan first lien$738,617$650,406
100c
12.00%
S••• S••••••••• I•••term loan first lien$644,316$638,144
100c
11.50%
S•••••• S••••••• I•••term loan first lien$637,098$623,059
100c
11.50%
R••• G••••••• I•••term loan first lien$1.4M$616,757
51c
11.80%
V••••• H•••••• I•••term loan first lien$711,734$599,197
97c
12.00%
S••• A••••••••• C•••••• I•••term loan first lien$597,871$594,287
100c
14.00%
V•••••••• I•••term loan first lien$590,617$588,904
100c
12.60%
J•••• P••••••• I•••term loan first lien$591,850$570,975
100c
13.00%
I••••• R••••••• G••••• L•••term loan first lien$562,348$551,101
100c
13.00%
S•••••• S••••••• I•••term loan first lien$549,663$544,294
100c
11.50%
G•••••• I•••term loan first lien$528,877$508,211
100c
14.00%
S•••••••• I•••term loan first lien$500,000$492,012
100c
16.00%
C•••••• L••••••term loan first lien$500,000$490,972
100c
15.50%
H•••• H••••••• I•••term loan first lien$496,918$463,158
100c
13.00%
S•••• C•••• I•••term loan first lien$463,855$462,697
100c
13.50%
C•••••• L••••••term loan first lien$476,470$461,389
100c
11.80%
P••••••••• T••••••••• I•••term loan first lien$470,581$458,481
100c
12.00%
W•••••• I•••term loan first lien$453,904$441,568
100c
12.00%
C••••• S••• I••term loan first lien$440,082$440,079
100c
11.00%
K••••• L•••••••• I•••term loan first lien$450,116$438,864
100c
11.50%
F••• R••••••• I•••term loan first lien$440,972$435,908
100c
11.00%
G•• P•••••• I•••term loan first lien$438,697$435,311
100c
10.50%
O••• H••••••• C••term loan first lien$296,330$431,799
100c
11.30%
Page 1 of 2Next
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