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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, 2024
157 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
S••••••••• L••••• P•••••••• L••term loan first lien$13.9M$10.9M
83c
12.50%
C••••• C••••••• I•••term loan first lien$9.7M$9.7M
100c
13.80%
Q•••••••• C••••term loan first lien$9.5M$9.1M
100c
12.00%
R•••••• E•••••• I•••term loan first lien$8.9M$8.7M
100c
13.50%
K•••• K••••• I•••term loan first lien$6.9M$6.7M
100c
13.00%
M•••• L•••• I•••term loan first lien$6.4M$6.2M
100c
13.30%
R••••••••• I•••term loan first lien$5.5M$5.5M
100c
11.30%
Z••••• I•••term loan first lien$5.3M$5.3M
100c
11.50%
Z••••• I•••term loan first lien$3.6M$3.5M
100c
11.50%
D•••••••• I•••term loan first lien$5.4M$3.4M
100c
11.00%
U•••• L••• I•••term loan first lien$3.4M$3.3M
100c
13.50%
1••••• P•• L•••term loan first lien$5.4M$3.2M
67c
12.00%
P••••••• S••••••• I•••term loan first lien$3.2M$3.2M
100c
12.50%
P••••••• S••••••• I•••term loan first lien$3.0M$2.9M
100c
12.50%
E••••• T••••••••• I•••term loan first lien$3.0M$2.8M
94c
12.00%
C•••• I••••••• I•••term loan first lien$2.8M$2.8M
100c
12.00%
P•••• P•••••• I•••term loan first lien$2.9M$2.4M
88c
11.60%
U••• I•••term loan first lien$2.4M$2.4M
100c
11.50%
H•••• I•••term loan first lien$2.4M$2.3M
100c
12.00%
S••• S••••••••• I•••term loan first lien$2.2M$2.2M
100c
11.50%
i••••••••• I•••term loan first lien$3.0M$2.1M
70c
12.30%
C••••••• I•••term loan first lien$2.1M$2.1M
100c
11.80%
L••••••• H••••••• I•••term loan first lien$4.0M$2.0M
53c
10.30%
H••••• G••••• E••••••••• I•••term loan first lien$2.0M$2.0M
100c
12.50%
K••• H••••••• L••••••term loan first lien$2.0M$1.9M
100c
11.80%
T•• F••• P••••••• P•••term loan first lien$2.3M$1.9M
85c
15.00%
H••••• T••••••••• I•••term loan first lien$1.9M$1.9M
100c
11.50%
G••• C••••••• I•••term loan first lien$1.9M$1.8M
100c
12.30%
B••••• I•••term loan first lien$1.6M$1.6M
100c
12.50%
S•••••••• I•••term loan first lien$1.5M$1.5M
100c
13.00%
C•••••• A•••••••• I•••term loan first lien$1.4M$1.3M
100c
12.00%
S• I••••••••• I•••term loan first lien$1.4M$1.3M
100c
13.50%
L•••••••• I•••term loan first lien$1.3M$1.2M
100c
13.50%
I•••••••• R•••••••• I•••term loan first lien$1.3M$1.2M
100c
12.00%
E•••••••• I•••term loan first lien$1.3M$1.2M
100c
12.00%
A••••• I•••term loan first lien$1.3M$1.2M
100c
13.50%
L•••••••• I•••term loan first lien$1.2M$1.2M
100c
14.80%
U•• D•••••• H•••••• I•••term loan first lien$1.3M$1.2M
100c
12.50%
E•••••• H•••••• I•••term loan first lien$1.2M$1.2M
100c
12.00%
V••• H••••••• L••••••term loan first lien$2.5M$1.1M
100c
12.00%
A••••• C•••••••••term loan first lien$1.1M$1.1M
100c
10.50%
M••••••••• I•••term loan first lien$1.4M$1.1M
79c
11.10%
J••• M•••••• I•••term loan first lien$1.1M$1.1M
100c
12.00%
A••••• C•••••••••term loan first lien$1.1M$1.1M
100c
10.50%
B••••• I•••term loan first lien$1.7M$1.1M
64c
10.00%
B••••••• C•••• L••term loan first lien$4.3M$1.1M
27c
12.90%
C••••••• I•••term loan first lien$1.1M$1.0M
100c
12.00%
B•••••••• I•••term loan first lien$1.2M$1.0M
100c
14.10%
A•••••••• I•••term loan first lien$1.1M$1.0M
100c
11.00%
D•• S••••• I•••term loan first lien$1.4M$977,688
100c
10.00%
C••••• S••• I••term loan first lien$975,747$944,373
100c
11.00%
R•••• T••••••••• I•••term loan first lien$937,577$927,362
100c
11.00%
O•••••••• I•••term loan first lien$895,869$884,031
100c
12.00%
S• I••••••••• I•••term loan first lien$874,712$874,712
100c
13.50%
H••••••• H•••••• I•••term loan first lien$894,235$870,927
100c
11.00%
V•••• H••••••• I•••term loan first lien$861,184$848,881
100c
11.80%
L•••••••• S•••••••• P••• L•••term loan first lien$855,090$844,346
100c
12.80%
V•••• H••••••• I•••term loan first lien$861,184$826,607
100c
11.80%
M••••• L•••• I•••term loan first lien$836,350$826,066
100c
11.00%
S• I••••••••• I•••term loan first lien$816,029$816,029
100c
13.50%
J•• M•••••••• I••term loan first lien$895,307$813,293
100c
12.00%
H••••• G••••• E••••••••• I•••term loan first lien$801,329$796,139
100c
12.50%
H••••••••• I•••term loan first lien$809,810$782,843
100c
12.30%
C••••• T••••••••• C••••term loan first lien$764,151$741,532
100c
13.50%
F••••••••• T••••••••• I•••term loan first lien$735,155$705,041
100c
13.50%
B•••• C••• T••••••••• I•••term loan first lien$738,617$665,361
100c
12.00%
S••• A••••••••• C•••••• I•••term loan first lien$672,463$656,983
100c
13.50%
P••••• I•••term loan first lien$650,711$650,710
100c
12.80%
H•••• H•••• I•••term loan first lien$650,973$648,759
100c
11.00%
C••••• T••••••••• C••••term loan first lien$644,843$636,883
100c
15.00%
P••••• I•••term loan first lien$649,637$631,020
100c
12.50%
R••• G••••••• I•••term loan first lien$1.4M$616,757
51c
11.80%
T•••• H••••• • S••••••• T••••••••• I•••term loan first lien$603,234$593,002
100c
12.00%
S••• S••••••••• I•••term loan first lien$564,210$559,483
100c
11.50%
A••••• I•••term loan first lien$957,356$548,094
60c
12.80%
S••• A••••••••• C•••••• I•••term loan first lien$528,895$526,108
100c
14.00%
C•••••• L••••••term loan first lien$486,410$478,746
100c
15.50%
V••••• H•••••• I•••term loan first lien$711,734$471,310
76c
12.00%
J•••• P••••••• I•••term loan first lien$481,232$467,349
100c
13.00%
S•••••••• I•••term loan first lien$458,715$452,053
100c
16.00%
I••••• R••••••• G••••• L•••term loan first lien$450,579$444,164
100c
13.00%
T••••••• A•••• I•••term loan first lien$669,230$420,442
61c
12.00%
H•••• H••••••• I•••term loan first lien$439,073$412,728
100c
13.00%
C••••• S••• I••term loan first lien$402,883$402,880
100c
11.00%
H•••• I•••term loan first lien$535,877$393,888
100c
13.50%
C•••••• L••••••term loan first lien$402,917$392,116
100c
11.80%
F••• R••••••• I•••term loan first lien$395,422$391,371
100c
11.00%
S•••• C•••• I•••term loan first lien$388,670$388,065
100c
13.50%
R••••••••• U••• L••term loan first lien$405,040$385,447
100c
12.00%
J••• M•••••• I•••term loan first lien$385,218$379,605
100c
15.50%
C•••• C••• H•••••••• I•••term loan first lien$750,000$366,152
50c
8.50%
F••• R••••••• I•••term loan first lien$364,407$361,011
100c
11.00%
P••••••••• T••••••••• I•••term loan first lien$367,485$360,024
100c
12.00%
F••••••• I•••term loan first lien$357,616$350,890
100c
11.80%
W••••• L•••• I•••term loan first lien$700,000$336,687
48c
12.00%
K••••• L•••••••• I•••term loan first lien$342,370$335,728
100c
11.50%
R•••• T••••••••• I•••term loan first lien$339,003$335,259
100c
11.00%
D••••••• T•••••••• I•••term loan first lien$390,777$334,715
100c
12.00%
O••• H••••••• C••term loan first lien$150,239$332,263
100c
11.30%
G•• P•••••• I•••term loan first lien$333,154$332,260
100c
10.50%
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