DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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BDC portfolio
C•••••• S•••••••• C•••
BDCCSWCCIK 17313file 814-00061DALLAS, TXinternally managed
Fair value
$2.2B
as of Jun 30, 2026
Principal held
$2.1B
debt pieces, the filer's figure
Cost
$2.2B
98c on cost
Unfunded
$312M
commitments not yet drawn
Positions
678
144 borrowers
First lien
83%
91% debt by fair value
Quarters on the tape
17
since Mar 31, 2022
Facilities held
354
18 sponsors financed
Portfolio through time
Fair value by quarter end$2.2B as of Jun 30, 2026
Mar 31, 2022$937M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $2.2B | 144 | 97c | 46 | 686 bp |
| Mar 31, 2026 | $2.5B | 152 | 113c | 43 | 682 bp |
| Dec 31, 2025 | $2.0B | 137 | 97c | 41 | 688 bp |
| Sep 30, 2025 | $1.8B | 131 | 97c | 31 | 702 bp |
| Jun 30, 2025 | $1.8B | 125 | 97c | 35 | 707 bp |
| Mar 31, 2025 | $4.6B | 155 | 111c | 68 | 714 bp |
| Dec 31, 2024 | $1.7B | 130 | 96c | 32 | 700 bp |
| Sep 30, 2024 | $1.5B | 122 | 97c | 32 | 719 bp |
| Jun 30, 2024 | $1.5B | 120 | 96c | 32 | 726 bp |
| Mar 31, 2024 | $1.6B | 141 | 104c | 27 | 727 bp |
| Dec 31, 2023 | $1.4B | 103 | 99c | 23 | 751 bp |
| Sep 30, 2023 | $1.3B | 98 | 96c | 24 | 751 bp |
| Jun 30, 2023 | $1.3B | 93 | 96c | 22 | 750 bp |
| Mar 31, 2023 | $1.4B | 112 | 99c | 20 | 754 bp |
| Dec 31, 2022 | $1.2B | 88 | 95c | 14 | 757 bp |
| Sep 30, 2022 | $1.1B | 85 | 95c | 17 | 757 bp |
| Mar 31, 2022 | $937M | 93 | 99c | 13 | 757 bp |
Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Sponsors financed
- T•• M••••••••• A••••••••• L•• carried2 borrowers $14.1M
- S•••• C•••••• G••••• L•• carried2 borrowers $13.0M
- L••• R•••• carried1 borrower $46.3M
- R•••••• A••••••••• L•• carried1 borrower $35.2M
- L•• C•••••• M••••••••• L••• carried1 borrower $32.6M
- K••••• ••• C•••••• L• inferred1 borrower $29.4M
- P••••• C•••••• carried1 borrower $28.6M
- L••• R•••• E••••• P••••••• carried1 borrower $22.0M
- A••••••• C•••••• P••••••• carried1 borrower $16.0M
- D• H••••••••• P••••••• carried1 borrower $15.4M
- V•••• S••••• C•••••• L•• carried1 borrower $13.2M
- 1 borrower $10.9M
- Y•••• P••••••• M••••••••• L••••• carried1 borrower $10.1M
- C•••••• C•••••• M••••••••• L• carried1 borrower $10.0M
- S••••••• P••••••• carried1 borrower $9.5M
Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
What changed
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New borrower on a BDC scheduleJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
Largest facilities held, with co-lenders
- I•• H••••••• G••••• L•• first lien term loan1 BDC hold it · matures Jun 21, 2027$61.4M 102c
- C••••••• I•• first lien term loan2 BDCs hold it · matures Sep 6, 2028$45.0M 101c
- F••••••••• S••••••••• H•••••••• L•• first lien term loan1 BDC hold it · matures Dec 31, 2026$42.6M 100c
- C•••••• I•• first lien term loan1 BDC hold it · matures Nov 13, 2030$42.5M 101c
- S••••••• L•• first lien term loan1 BDC hold it · matures Jun 25, 2029$38.2M 93c
- I••••• P••• A•• T•••• L•• first lien term loan1 BDC hold it · matures May 17, 2029$37.6M 85c
- E•••• B•••••••• L•• first lien term loan1 BDC hold it · matures Aug 6, 2027$35.8M 101c
- S••••••• H••••• P••••• L•• first lien term loan1 BDC hold it · matures Dec 26, 2030 · R•••••• A••••••••• L••$35.2M 100c
- N••••••••• H••••••••• L•• first lien term loan1 BDC hold it · matures May 14, 2027 · L•• C•••••• M••••••••• L•••$32.6M 101c
- I••••• V••••••••• L•• first lien term loan1 BDC hold it · matures Dec 1, 2028$32.4M 100c
- W••• L••• P•••• L•• first lien term loan1 BDC hold it · matures Sep 5, 2030$31.6M 100c
- T•• F•••••••• • B••••• L•• first lien term loan1 BDC hold it · matures Mar 21, 2029$30.8M 101c
Schedule of investments at Jun 30, 2026
678 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| S•••••• G••••• I••••••• U•• I••. | term loan first lien | $9.5M | $9.4M 100c | S+550 bp | Mar 10, 2031 |
| S••••••••• L•• | term loan first lien | $10.1M | $9.3M 92c | S+650 bp | Jun 24, 2027 |
| S••••••••• L•• | term loan first lien | $10.1M | $9.3M 92c | S+850 bp | Jun 24, 2027 |
| M•••••• B•••••••• I••. | term loan first lien | $9.9M | $9.3M 95c | S+725 bp | Nov 30, 2028 |
| M••• L••• B••••• L•• | term loan first lien | $9.3M | $9.3M 100c | S+625 bp | May 15, 2030 |
| M•••••• B•••••••• I••. | term loan first lien | $9.9M | $9.3M 95c | S+525 bp | Nov 30, 2028 |
| A•• O••••••••• L•• | term loan first lien | $9.3M | $9.3M 101c | S+700 bp | Jan 18, 2028 |
| V• M••• P••••••••• I••. | term loan first lien | $9.3M | $9.2M 100c | S+475 bp | Feb 4, 2030 |
| R•••••• O••• L•• | term loan first lien | $9.2M | $9.1M 100c | S+650 bp | Nov 20, 2030 |
| L•••••• L•• | term loan second lien | $10.4M | $9.0M 88c | S+800 bp PIK 3.00% | Dec 31, 2029 |
| BOND BRAND LOYALTY ULC | First Lien - Term Loan B | term loan first lien | $8.8M | $8.8M 101c | S+675 bp | May 1, 2028 |
| A••••• B•••••• V• L•• | term loan first lien | $9.0M | $8.6M 98c | S+800 bp | Nov 26, 2027 |
| P••••••• T•••••••• L••. | term loan first lien | $8.3M | $8.3M 101c | S+675 bp | Jun 29, 2029 |
| L•• A••••••••• C••••••• L•• | term loan first lien | $8.3M | $8.3M 104c | S+600 bp | Dec 12, 2030 |
| L•• A••••••••• C••••••• L•• | term loan first lien | $8.3M | $8.3M 104c | S+800 bp | Dec 12, 2030 |
| I•• H••••••• G••••• L•• | equity equity | n/a | $8.2M 544c | ||
| M••••••••• E••••••••• M••••••••• C••••••• L•• | term loan first lien | $8.1M | $8.1M 101c | S+750 bp | Dec 11, 2029 |
| M••••••••• E••••••••• M••••••••• C••••••• L•• | term loan first lien | $8.1M | $8.1M 101c | S+550 bp | Dec 11, 2029 |
| G•••• I••••••••• L•• | term loan first lien | $8.0M | $8.0M 101c | S+700 bp PIK 10.95% | Dec 15, 2027 |
| P•••••••• T••••••••• M••••••••• L•• | term loan first lien | $8.0M | $7.9M 100c | S+575 bp | May 20, 2031 |
| C••••••••• G••••• L•• | term loan first lien | $8.0M | $7.9M 100c | S+600 bp | Feb 27, 2031 |
| A••••••••• L•• | preferred equity equity | n/a | $7.9M 248c | ||
| C••••••• L•• | term loan first lien | $8.0M | $7.8M 98c | S+700 bp | Dec 22, 2026 |
| H••••••••• A••••••••• I••. | term loan first lien | $8.3M | $7.8M 95c | S+950 bp PIK 1.50% | Apr 3, 2028 |
| S••••••• D••••••• R••••••••• L•• | term loan first lien | $8.0M | $7.8M 98c | S+650 bp | Sep 27, 2028 |
| S••••••• D••••••• R••••••••• L•• | term loan first lien | $8.0M | $7.8M 98c | S+850 bp | Sep 27, 2028 |
| C&M C•••••••, INC. | term loan first lien | $7.8M | $7.7M 99c | S+650 bp | Sep 30, 2026 |
| C&M C•••••••, INC. | term loan first lien | $7.8M | $7.7M 99c | S+850 bp | Sep 30, 2026 |
| I••••• V••••••••• L•• | delayed draw term loan lien unstated | $7.5M | $7.5M 101c | S+600 bp | Dec 1, 2028 |
| I••••••••• O• H•••••• L•• | term loan first lien | $7.5M | $7.4M 100c | S+650 bp | Sep 29, 2028 |
| I••••••••• O• H•••••• L•• | term loan first lien | $7.5M | $7.4M 100c | S+850 bp | Sep 29, 2028 |
| N••••••••• H••••••••• L•• | term loan first lien | $7.3M | $7.3M 100c | S+700 bp | May 14, 2027 |
| N••••••••• H••••••••• L•• | term loan first lien | $7.3M | $7.3M 100c | S+500 bp | May 14, 2027 |
| N•• R••• O•••• L•• | term loan first lien | $7.3M | $7.3M 100c | S+673 bp | Jun 30, 2031 |
| W••• • W•• H••••••• L•• | term loan first lien | $7.1M | $7.1M 101c | S+550 bp | Apr 30, 2028 |
| A••••••• N••• O••••••••• L•• | term loan first lien | $6.7M | $6.7M 100c | S+850 bp PIK 12.34% | Mar 28, 2028 |
| I••••• P••• A•• T•••• L•• | term loan first lien | $12.6M | $6.6M 53c | S+700 bp PIK 10.95% | May 17, 2029 |
| E•••• B•••••••• L•• | term loan first lien | $6.5M | $6.5M 101c | S+650 bp | Aug 6, 2027 |
| E•••• B•••••••• L•• | term loan first lien | $6.5M | $6.5M 101c | S+650 bp | Aug 6, 2027 |
| D•• B•••• L•• | term loan first lien | $6.5M | $6.5M 101c | S+525 bp | Jul 29, 2031 |
| D•••• L••• S•••••• O• P•••••••• L•• | term loan first lien | $6.5M | $6.5M 101c | S+800 bp | Dec 14, 2029 |
| A•• E••••••••• L•• | term loan first lien | $6.5M | $6.5M 100c | S+600 bp | Apr 14, 2031 |
| C&M C•••••••, INC. | term loan first lien | $6.5M | $6.4M 99c | S+650 bp | Sep 30, 2026 |
| C&M C•••••••, INC. | term loan first lien | $6.5M | $6.4M 99c | S+850 bp | Sep 30, 2026 |
| L•••• W•• L••••• L•• | term loan first lien | $6.5M | $6.3M 98c | S+800 bp | Jul 3, 2030 |
| L•••• W•• L••••• L•• | term loan first lien | $6.5M | $6.3M 98c | S+600 bp | Jul 3, 2030 |
| S••••••• O• H•••• L•• | term loan first lien | $11.1M | $6.1M 55c | 6.00% PIK 6.00% | Dec 31, 2029 |
| MICROBE FORMULAS LLC | term loan first lien | $6.1M | $6.1M 101c | S+550 bp | Apr 3, 2028 |
| AIR CONDITIONING SPECIALIST INC. | delayed draw term loan lien unstated | $6.1M | $6.0M 99c | S+550 bp | Nov 19, 2029 |
| T•• F•••••••• • B••••• L•• | term loan first lien | $6.0M | $6.0M 101c | S+600 bp | Mar 21, 2029 |
| C•••••• G•••• A••••••••• L•• | term loan first lien | $6.0M | $6.0M 101c | S+700 bp | Feb 15, 2029 |
| M•••••• | term loan first lien | $6.5M | $6.0M 92c | S+800 bp | Jan 3, 2028 |
| M•••••• | term loan first lien | $6.5M | $6.0M 92c | S+800 bp | Jan 3, 2028 |
| I•• E••••••••• L•• | term loan first lien | $5.8M | $5.8M 101c | S+700 bp | Oct 1, 2029 |
| T••••• M••••••••• H•••••••• L•• | term loan first lien | $5.5M | $5.4M 100c | S+725 bp | Jun 14, 2029 |
| T••••••• L•• | term loan first lien | $5.8M | $5.4M 93c | S+775 bp | Sep 30, 2027 |
| D•••••• C••••••••• L•• | term loan first lien | $5.5M | $5.3M 95c | S+800 bp PIK 11.74% | Dec 31, 2026 |
| A•• O••••••••• L•• | term loan first lien | $5.3M | $5.3M 101c | S+500 bp | Jan 18, 2028 |
| N••••••••• H••••••••• L•• | term loan first lien | $5.1M | $5.1M 101c | S+600 bp | May 14, 2027 |
| W••• • W•• H••••••• L•• | term loan first lien | $5.0M | $5.0M 100c | 12.00% PIK 12.00% | Jul 30, 2028 |
| M•••••• D•••••••• P•••••••• I••. | revolver lien unstated | $5.0M | $5.0M 101c | S+750 bp | Oct 29, 2029 |
| A•• P••••••• A•• C•••••••• I••. | term loan first lien | $5.0M | $5.0M 100c | S+650 bp | Jun 2, 2031 |
| S••••••• O• H•••• L•• | term loan first lien | $4.9M | $4.9M 100c | 7.00% PIK 7.00% | Dec 31, 2029 |
| U•••••• B••••••••• L•• | delayed draw term loan lien unstated | $4.9M | $4.8M 100c | S+875 bp PIK 2.50% | Sep 30, 2027 |
| LGM P••••• LLC | term loan first lien | $4.8M | $4.8M 100c | S+750 bp | Nov 20, 2026 |
| LGM P••••• LLC | term loan first lien | $4.8M | $4.8M 100c | S+950 bp | Nov 20, 2026 |
| A••••••• N••• O••••••••• L•• | term loan first lien | $6.7M | $4.8M 71c | S+850 bp PIK 12.34% | Mar 28, 2028 |
| D•••••• C••••••••• L•• | term loan first lien | $5.0M | $4.7M 95c | S+900 bp | Dec 31, 2026 |
| S••••••••• L•• | equity equity | n/a | $4.7M 946c | ||
| G••••••• L•• | revolver lien unstated | $4.5M | $4.5M 101c | S+700 bp | Jan 16, 2030 |
| B••••••• D•••••• L•• | term loan first lien | $9.1M | $4.4M 49c | S+1200 bp PIK 15.69% | Apr 13, 2029 |
| L•• P•••••• L•• | equity equity | n/a | $4.4M 249c | ||
| S•••••••• A•• L•• | term loan first lien | $4.2M | $4.2M 100c | S+675 bp | Dec 8, 2026 |
| C•• D••••• M••••••••• C••• L•• | term loan first lien | $4.2M | $4.2M 101c | S+850 bp | Oct 31, 2028 |
| C•• D••••• M••••••••• C••• L•• | term loan first lien | $4.2M | $4.2M 101c | S+650 bp | Oct 31, 2028 |
| LGM P••••• LLC | delayed draw term loan lien unstated | $4.2M | $4.2M 101c | S+850 bp | Nov 20, 2026 |
| T•• F•••••••• • B••••• L•• | revolver lien unstated | $4.0M | $4.0M 101c | S+600 bp | Mar 21, 2029 |
| P•••••••• S•••• • C•••••••• L•• | term loan first lien | $4.0M | $4.0M 101c | S+750 bp | Aug 1, 2030 |
| A••••••••• L•• | term loan first lien | $4.0M | $4.0M 99c | S+650 bp PIK 10.24% | Nov 6, 2028 |
| A••••••• P•• R•••••• L•• | revolver lien unstated | $4.0M | $4.0M 101c | S+600 bp | Dec 17, 2030 |
| T•• G•••• G••••• L•• | term loan first lien | $4.0M | $4.0M 100c | S+675 bp | Oct 29, 2029 |
| H••• T•••• L•• | revolver lien unstated | $4.0M | $3.9M 100c | S+1000 bp | Jun 9, 2028 |
| BOND BRAND LOYALTY ULC | First Lien - Term Loan A | term loan first lien | $3.8M | $3.8M 101c | S+475 bp | May 1, 2028 |
| W••••• S••••••• O••••••••• L•• | delayed draw term loan lien unstated | $3.7M | $3.7M 101c | S+800 bp | Nov 19, 2027 |
| G••• P•••••• A••••••••• L•• | term loan first lien | $3.8M | $3.7M 98c | S+700 bp | Sep 29, 2028 |
| I••••••• C••••••••• | term loan first lien | $3.7M | $3.7M 101c | S+575 bp | Jul 28, 2028 |
| M•••••• | preferred equity equity | n/a | $3.7M 95c | ||
| I••••• P••• A•• T•••• L•• | revolver lien unstated | $3.6M | $3.6M 101c | S+700 bp PIK 10.95% | May 17, 2029 |
| I•• H••••••• G••••• L•• | revolver lien unstated | $3.5M | $3.5M 101c | S+700 bp | Jun 21, 2027 |
| Z••••••• I••. | revolver lien unstated | $3.5M | $3.5M 101c | S+750 bp | Dec 30, 2027 |
| M•••••• B•••••••• I••. | revolver lien unstated | $3.8M | $3.5M 94c | S+625 bp | Nov 30, 2028 |
| E•••• B•••••••• L•• | delayed draw term loan lien unstated | $3.5M | $3.5M 101c | S+650 bp | Aug 6, 2027 |
| A•• N•• H••••• I••. | term loan first lien | $3.5M | $3.4M 97c | 20.00% PIK 20.00% | Nov 24, 2032 |
| W••• L••• P•••• L•• | delayed draw term loan lien unstated | $3.4M | $3.4M 100c | S+650 bp | Sep 5, 2030 |
| G•••• I••••••••• L•• | term loan first lien | $7.4M | $3.2M 43c | S+500 bp PIK 8.95% | Dec 15, 2027 |
| C•••••• M•••••• S••••• L•• | preferred equity equity | n/a | $3.2M 258c | ||
| G••••••• F•••• S•••••••• I••. | equity equity | n/a | $3.1M 154c | ||
| V•• H•••••••• I••. | preferred equity equity | n/a | $3.1M 192c | ||
| W••• L••• P•••• L•• | delayed draw term loan lien unstated | $3.0M | $3.0M 100c | S+650 bp | Sep 5, 2030 |
| F••• E••••••••• L•• | equity equity | n/a | $2.9M 102c |
Registration
- Fiscal year end
- 0331reported
- Incorporated
- TXreported
- On the SEC BDC report
- 2012 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Latest schedule
- 0000017313-26-000095reported