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 |
|---|---|---|---|---|---|
| A•• G••••••••• I••. | term loan first lien | $2.9M | $2.9M 100c | S+650 bp | Dec 14, 2026 |
| G•• I••••••••• L•• | equity equity | n/a | $2.9M 291c | ||
| C•• D••••• M••••••••• C••• L•• | equity equity | n/a | $2.9M 290c | ||
| C••••• A•••• L•• | term loan first lien | $4.3M | $2.7M 65c | S+650 bp PIK 10.19% | Jun 1, 2027 |
| M•••••• B•••••••• I••. | delayed draw term loan lien unstated | $2.8M | $2.6M 95c | S+625 bp | Nov 30, 2028 |
| I•••••• L•• | preferred equity equity | n/a | $2.5M 126c | ||
| P•••••••• S•••• • C•••••••• L•• | equity equity | n/a | $2.5M 124c | ||
| S•••••• G•••• L•• | term loan first lien | $2.5M | $2.5M 100c | S+675 bp | Jun 17, 2031 |
| 3•• Q•••• T••••• L•• | revolver lien unstated | $2.3M | $2.3M 100c | S+850 bp | Jun 16, 2027 |
| EMERALD TECHNOLOGIES (U.S.) A•••••••••CO, INC. | term loan first lien | $3.4M | $2.2M 65c | S+625 bp PIK 5.25% | Dec 31, 2029 |
| L••• B•••••• I••. | term loan lien unstated | $2.2M | $2.2M 100c | S+750 bp | Sep 30, 2026 |
| A••••••• M•••••• S•••••••• L•• | term loan first lien | $2.2M | $2.2M 99c | S+700 bp | Mar 31, 2031 |
| O•••••••• L•• | equity equity | n/a | $2.2M 164c | ||
| F• V••••• L•• | equity equity | n/a | $2.1M 157c | ||
| H••• T•••• L•• | warrants equity | n/a | $2.1M 165c | ||
| N••••••• C••••• C•••• L•• | preferred equity equity | n/a | $2.0M 100c | ||
| A•• O••••••••• L•• | revolver lien unstated | $2.0M | $2.0M 101c | S+600 bp | Jan 18, 2028 |
| A••••••••• L•• | preferred equity equity | n/a | $2.0M 221c | ||
| A••••••••• L•• | revolver lien unstated | $1.9M | $2.0M 102c | 15.00% PIK 15.00% | Nov 6, 2028 |
| BOND BRAND LOYALTY ULC | First Lien | term loan first lien | $1.9M | $1.9M 102c | S+575 bp | May 1, 2028 |
| L••• U••••••••• L•• | preferred equity equity | n/a | $1.9M 232c | ||
| NINJATRADER, INC. | unstated lien unstated | n/a | $1.9M 178c | ||
| LOGIX HOLDING COMPANY, LLC | term loan first lien | $2.4M | $1.9M 80c | S+700 bp PIK 1.25% | Dec 31, 2028 |
| A••••••• P•• R•••••• L•• | delayed draw term loan lien unstated | $1.9M | $1.9M 101c | S+600 bp | Dec 17, 2030 |
| C•••••• N••• L•• | equity equity | n/a | $1.8M 180c | ||
| STUDENT RESOURCE CENTER LLC | preferred equity equity | n/a | $1.8M 499c | ||
| M•••• H•••••••• L•• | revolver lien unstated | $1.8M | $1.8M 100c | S+575 bp | May 5, 2031 |
| F••••••••• S••••••••• H•••••••• L•• | equity equity | n/a | $1.7M 229c | ||
| M••••• B••••••••• R•••••••• L•• | revolver lien unstated | $1.8M | $1.7M 98c | S+600 bp | Nov 8, 2030 |
| S•••••••• A•• L•• | equity equity | n/a | $1.5M 204c | ||
| C•••••• G•••• A••••••••• L•• | preferred equity equity | n/a | $1.5M 121c | ||
| B•••• S•• N••••••• L•• | preferred equity equity | n/a | $1.5M 133c | ||
| H••• T•••• L•• | term loan first lien | $1.5M | $1.5M 100c | S+1000 bp | Dec 31, 2026 |
| R•••• F•••••• O••••••••• L•• | equity equity | n/a | $1.5M 100c | ||
| C••••••••• G••••• L•• | delayed draw term loan lien unstated | $1.5M | $1.5M 100c | S+600 bp | Feb 27, 2031 |
| I••••• V••••••••• L•• | preferred equity equity | n/a | $1.5M 131c | ||
| T•• F•••••••• • B••••• L•• | preferred equity equity | n/a | $1.4M 137c | ||
| A•• O••••••••• L•• | preferred equity equity | n/a | $1.4M 139c | ||
| AIR CONDITIONING SPECIALIST INC. | revolver lien unstated | $1.4M | $1.4M 100c | S+550 bp | Nov 19, 2029 |
| U• C••••••••• H•••••••• I••. | equity equity | n/a | $1.3M 131c | ||
| A•• N•• H••••• I••. | delayed draw term loan lien unstated | $1.3M | $1.3M 110c | 21.00% PIK 21.00% | Nov 24, 2032 |
| C••••••••• G••••• L•• | equity equity | n/a | $1.2M 123c | ||
| I•• E••••••••• L•• | preferred equity equity | n/a | $1.2M 117c | ||
| U•••••• B••••••••• L•• | delayed draw term loan lien unstated | $1.2M | $1.2M 107c | S+625 bp | Sep 30, 2027 |
| C••••••• B••••• I••. | preferred equity equity | n/a | $1.1M 123c | ||
| K••• L•• | revolver lien unstated | $1.1M | $1.1M 107c | S+550 bp | Sep 29, 2028 |
| R•••••• O••• L•• | equity equity | n/a | $1.1M 151c | ||
| M••••••• M•••••• COMPANY | delayed draw term loan lien unstated | $1.3M | $1.1M 89c | 7.00% PIK 7.00% | Feb 10, 2027 |
| S••••••••• L•• | revolver lien unstated | $1.2M | $1.1M 94c | S+750 bp | Jun 24, 2027 |
| U••• T••••••••• C•••. | term loan first lien | $2.7M | $1.1M 40c | S+700 bp PIK 7.00% | May 4, 2026 |
| A•• N•• H••••• I••. | delayed draw term loan lien unstated | $1.1M | $1.1M 100c | 21.00% PIK 21.00% | Nov 24, 2032 |
| E•••••• I••. | equity equity | n/a | $1.1M 59c | ||
| O••• B•••••••• L•• | equity equity | n/a | $1.0M 486c | ||
| A••••••• S••••• G••••• L•• | preferred equity equity | n/a | $1.0M 40c | ||
| H••• T•••• L•• | term loan first lien | $1.0M | $1.0M 100c | S+1000 bp | Dec 31, 2026 |
| S••• C••••••••• G••••• L••. | equity equity | n/a | $1.0M 100c | ||
| W••••••••• I••. | revolver lien unstated | $1.0M | $1.0M 100c | S+800 bp | Sep 9, 2026 |
| D•••• L••• S•••••• O• P•••••••• L•• | equity equity | n/a | $1.0M 100c | ||
| C•••••• N••• L•• | revolver lien unstated | $1.0M | $1.0M 103c | S+700 bp | Oct 16, 2028 |
| M•••• H•••••••• L•• | equity equity | n/a | $1.0M 100c | ||
| C•••••• M•••••• S••••• L•• | revolver lien unstated | $1.0M | $1.0M 102c | S+700 bp | May 22, 2028 |
| PATRIOT INTERMEDIATE H•••••, LLC | revolver lien unstated | $1.0M | $1.0M 110c | S+650 bp | Jan 9, 2031 |
| W•••• P••••• L•••• L•• | revolver lien unstated | $1.0M | $980,000 100c | S+775 bp | May 1, 2030 |
| E•••• B•••••••• L•• | equity equity | n/a | $977,000 155c | ||
| BOND BRAND LOYALTY ULC | Preferred Units | notes lien unstated | n/a | $949,000 95c | ||
| A•• N•• H••••• I••. | delayed draw term loan lien unstated | $932,000 | $932,000 100c | 20.00% PIK 20.00% | Nov 24, 2032 |
| V• M••• P••••••••• I••. | preferred equity equity | n/a | $900,000 100c | ||
| T•• B•• B••••• I••. | equity equity | n/a | $879,000 176c | ||
| P•••••••• S•••• • C•••••••• L•• | revolver lien unstated | $850,000 | $850,000 101c | S+750 bp | Aug 1, 2030 |
| T••••• M••••••••• H•••••••• L•• | preferred equity equity | n/a | $849,000 53c | ||
| C•••••• N••• L•• | equity equity | n/a | $812,000 162c | ||
| S••••••••• R•••••••• I••. | equity equity | n/a | $808,000 2448c | ||
| R••••••• M••••••••• L•• | equity equity | n/a | $806,000 53c | ||
| L••• B•••••• I••. | term loan lien unstated | $793,000 | $793,000 100c | 9.50% | Sep 30, 2026 |
| S••••••••• R•••••••• I••. | preferred equity equity | n/a | $791,000 131c | ||
| N••••••• C••••• C•••• L•• | warrants equity | n/a | $787,000 855c | ||
| L•• A••••••••• C••••••• L•• | warrants equity | n/a | $782,000 100c | ||
| R••••••• M••••••••• L•• | equity equity | n/a | $774,000 383c | ||
| P••• S•••••• P•••••••• I••. | equity equity | n/a | $769,000 67c | ||
| S•••••• G•••• L•• | equity equity | n/a | $750,000 100c | ||
| C••••• D•••••••• L•• | equity equity | n/a | $750,000 100c | ||
| A••••••••• P•••••••• L•• | preferred equity equity | n/a | $746,000 73c | ||
| H••••••••• A••••••••• I••. | revolver lien unstated | $786,000 | $739,000 94c | S+950 bp PIK 1.50% | Apr 3, 2028 |
| I••••••••• O• H•••••• L•• | equity equity | n/a | $736,000 65c | ||
| K•••••• P•• S••••••• L•• (FKA RED DOG O••••••••• HOLDING COMPANY LLC) | equity equity | n/a | $674,000 54c | ||
| C••••••• L•• | revolver lien unstated | $615,000 | $605,000 98c | S+700 bp | Dec 22, 2026 |
| M••••••••• E••••••••• M••••••••• C••••••• L•• | delayed draw term loan lien unstated | $600,000 | $600,000 101c | S+650 bp | Dec 11, 2029 |
| A••••• B•••••• V• L•• | equity equity | n/a | $587,000 59c | ||
| B•••• S•• N••••••• L•• | preferred equity equity | n/a | $564,000 200c | ||
| L••• B•••••• I••. | term loan lien unstated | $549,000 | $549,000 100c | 0.00% | Sep 30, 2026 |
| P••• S•••••• P•••••••• I••. | revolver lien unstated | $550,000 | $541,000 101c | S+700 bp | Dec 20, 2028 |
| P••••••• A••••••••• L•• | preferred equity equity | n/a | $500,000 100c | ||
| A•• E••••••••• L•• | equity equity | n/a | $500,000 100c | ||
| N•••••• R••••••••• O• F••••••• I••. | preferred equity equity | n/a | $500,000 100c | ||
| T•• G•••• G••••• L•• | preferred equity equity | n/a | $500,000 100c | ||
| B••••••• D•••••• L•• | revolver lien unstated | $487,000 | $496,000 102c | 18.00% | Apr 13, 2029 |
| K•••••• P•• S••••••• L•• (fka RED DOG O••••••••• HOLDING COMPANY LLC) | revolver lien unstated | $500,000 | $495,000 102c | S+650 bp | Nov 15, 2029 |
| STUDENT RESOURCE CENTER LLC | term loan first lien | $9.6M | $482,000 5c | 8.50% PIK 8.50% | Dec 30, 2027 |
| I••••• V••••••••• L•• | equity equity | n/a | $464,000 278c | ||
| L••• B•••••• I••. | equity equity | n/a | $457,000 61c |
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