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M••••• C•••••• I••••• P••• C•••
A non-traded business development company, managed by M• A•••••••, holding $6.0B across 291 borrowers at Jun 30, 2026.
Composed from this BDC's filings and its latest schedule of investments.
As of · the latest schedule of investments read for this BDC
- Fair value
- $6.0B
- Borrowers
- 291
- Mark on cost
- 97.8¢
- First lien
- 86%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
What matters now
- $183Mon non-accrual, 11 borrowers
11 borrowers on non-accrual, $183M principal; the largest is F•••• B••••• G••••• L•• ($74.6M).
Q2 2026 · Loans that have stopped paying interest; they set the book's credit losses.
FactBDC schedules of investments, 30 Jun 2026For LPs and shareholders in these BDCs, co-lenders on the same namesOpen F•••• B••••• G••••• L•• → - 38 below 80¢$239M principal
38 positions across 18 borrowers marked below 80¢ on cost, $239M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 113 → 131loans paying in kind
Loans paying in kind rose from 113 to 131 positions in the quarter to Jun 30, 2026.
Q2 2026 · Borrowers paying interest in more debt rather than cash is an early sign of strain.
Every headline figure, and the identifiersCIK 1742313 · file 814-01301ShowHide
Fair value
$6.0B
as of Jun 30, 2026
Principal held
$6.6B
debt pieces, the filer's figure
Cost
$6.0B
98c on cost, debt pieces
Unfunded
$948M
commitments not yet drawn
Positions
1,343
291 borrowers
First lien
86%
92% debt by fair value
Quarters on the tape
19
since Dec 31, 2021
Facilities held
714
48 sponsors financed
Portfolio through time
Fair value by quarter end$6.4B as of Jun 30, 2026
Dec 31, 2021$21.6M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $6.4B | 291 | 98c | 131 | 586 bp |
| Mar 31, 2026 | $6.1B | 286 | 98c | 113 | 577 bp |
| Dec 31, 2025 | $6.2B | 293 | 98c | 113 | 584 bp |
| Sep 30, 2025 | $5.7B | 281 | 99c | 101 | 592 bp |
All 19 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $5.4B | 265 | 100c | 97 | 601 bp |
| Mar 31, 2025 | $4.7B | 250 | 100c | 98 | 613 bp |
| Dec 31, 2024 | $8.2B | 246 | 100c | 214 | 623 bp |
| Sep 30, 2024 | $3.8B | 222 | 100c | 85 | 641 bp |
| Jun 30, 2024 | $3.5B | 218 | 100c | 75 | 653 bp |
| Mar 31, 2024 | $2.9B | 214 | 101c | 65 | 652 bp |
| Dec 31, 2023 | $6.7B | 212 | 100c | 155 | 661 bp |
| Sep 30, 2023 | $2.0B | 179 | 100c | 58 | 663 bp |
| Jun 30, 2023 | $1.8B | 173 | 100c | 49 | 659 bp |
| Mar 31, 2023 | $1.6B | 156 | 100c | 51 | 666 bp |
| Dec 31, 2022 | $3.0B | 159 | 100c | 92 | 655 bp |
| Sep 30, 2022 | $38.0M | 6 | n/a | 0 | n/a |
| Jun 30, 2022 | $14.3M | 5 | n/a | 0 | n/a |
| Mar 31, 2022 | $12.7M | 2 | n/a | 0 | n/a |
| Dec 31, 2021 | $21.6M | 4 | n/a | 0 | n/a |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
Full timeline · 20 eventsShow fewer
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread increasedJun 30, 2026
Largest facilities held, with co-lenders
- Z• I••••••••• I•• I•• first lien term loan2 BDCs hold it · matures Nov 14, 2031$82.3M 102c
- E•••• F•••• S•••••••• I•• first lien term loan3 BDCs hold it · matures Apr 17, 2031$81.1M 101c
- T•••• G•••• H••••••• C••• first lien term loan1 BDC hold it · matures Mar 28, 2031$73.6M 101c
- S••••••••• I•• first lien term loan2 BDCs hold it · matures Oct 16, 2031 · possible sponsor V••••• C•••••• M••••••••• L•••$73.0M 101c
- K• S••••••• V•••••• L•• first lien term loan1 BDC hold it · matures Sep 5, 2031$67.9M 101c
- C••••• B••••• I•• first lien term loan2 BDCs hold it · matures Sep 14, 2029$65.7M 102c
- S••••••• S••••••• A••••••••• S•• C••• first lien term loan2 BDCs hold it · matures Sep 30, 2027 · possible sponsor L•••••• G•••• • P•••••••• L•••$65.5M 100c
- N••••••••• L•• first lien term loan1 BDC hold it · matures Aug 26, 2027$64.0M 100c
- B••••••••• I•• first lien term loan1 BDC hold it · matures Jul 17, 2029$63.5M 102c
- F•••• B••••• G••••• L•• unsecured or subordinated term loan1 BDC hold it · matures Dec 29, 2028$60.9M 0c
- A••••• D••••••••• G••••• I•• first lien term loan1 BDC hold it · matures Jun 7, 2029$60.2M 100c
- B•• B••••• I•• first lien term loan3 BDCs hold it · matures Dec 22, 2029$59.3M 101c
Schedule of investments at Dec 31, 2022
831 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| S•• C••• S•••••••• L•• | revolver first lien | $760,000 | $144,000 95c | S+575 bp | Dec 30, 2026 |
| S•• C••• S•••••••• L•• | revolver first lien | $760,000 | $144,000 95c | //www.monroebdc.com/20230930#London Interbank Offered Rate+575 bp | Dec 30, 2026 |
| A••••••• B•••••••• a•• T••••••••• C•••••• L•• | equity equity | Not disclosed | $139,000 165c | Jun 10, 2032 | |
| A••••••• B•••••••• a•• T••••••••• C•••••• L••• E••••• S••••••••• | warrants equity | Not disclosed | $139,000 165c | Jun 10, 2032 | |
| E•••••• W••• A••••••••• C••••••• L••• E••••• S••••••••• | equity equity | Not disclosed | $132,000 94c | PIK 8.00% | |
| E•••••• W••• A••••••••• C••••••• L••• E••••• S•••••••• | equity equity | Not disclosed | $132,000 94c | PIK 8.00% | |
| T••••••••• C••• L•• | term loan first lien | $128,000 | $128,000 102c | S+625 bp | Dec 14, 2026 |
| T••••••••• C••• L•• | term loan first lien | $128,000 | $128,000 102c | SOFR+625 bp | Dec 14, 2026 |
| S••••••••• M••••• L•• | revolver first lien | $484,000 | $119,000 98c | S+675 bp | Jan 12, 2027 |
| S••• C••••••••• M•• C•• L• L• C• | revolver first lien | $484,000 | $119,000 98c | LIBOR+675 bp | Jan 12, 2027 |
| S••••••••• M••••• L•• | revolver first lien | $484,000 | $119,000 98c | //www.monroebdc.com/20230930#London Interbank Offered Rate+675 bp | Jan 12, 2027 |
| S•• E•• C••• H•••••• L•• | revolver first lien | $1.4M | $117,000 98c | S+575 bp | Oct 5, 2029 |
| S•• E•• C••• H•••••• L•• | revolver first lien | $1.4M | $117,000 98c | SOFR+575 bp | Oct 5, 2029 |
| R••••••• F•••••• I•••• E••••• S••••••••• | equity equity | Not disclosed | $113,000 283c | ||
| L••••• T••••• H•••••••• L••• E••••• S••••••••• | equity equity | Not disclosed | $111,000 70c | ||
| E••••• N••••••• L•• | revolver first lien | $146,000 | $109,000 99c | S+600 bp | Dec 31, 2025 |
| E••••• N••••••• L•• | revolver first lien | $146,000 | $109,000 99c | SOFR+600 bp | Dec 31, 2025 |
| A••• C••••••••• | revolver first lien | $325,000 | $108,000 100c | S+650 bp | Apr 13, 2027 |
| A••• C••••••••• | revolver first lien | $325,000 | $108,000 100c | //www.monroebdc.com/20230930#London Interbank Offered Rate+650 bp | Apr 13, 2027 |
| C••••••••• L••• E••••• S••••••••• | equity equity | Not disclosed | $107,000 57c | ||
| E••••• N••••••• L••• E••••• S••••••••• | equity equity | Not disclosed | $93,000 98c | ||
| T••••••••• I••• | delayed draw term loan first lien | $413,000 | $91,000 98c | SOFR+725 bp PIK 3.63% | Feb 16, 2028 |
| T••••••••• I•• | delayed draw term loan first lien | $413,000 | $91,000 98c | S+725 bp PIK 3.63% | Feb 16, 2028 |
| R••••••• H••••• G••••• L••• E••••• S•••••••• | preferred equity equity | Not disclosed | $86,000 90c | PIK 12.00% | |
| J• B•• F•••••• I••• L••• E••••• S••••••••• E••••• C••••••••• | unstated lien unstated | Not disclosed | $76,000 100c | ||
| J• B•• F•••••• I••• L••• E••••• S••••••••• C••••••••• | unstated lien unstated | Not disclosed | $76,000 100c | ||
| S• H•••••••• I••• ••••••••• P•••••• S••••••••• | revolver first lien | $316,000 | $71,000 100c | //www.monroebdc.com/20230930#London Interbank Offered Rate+600 bp | Jul 25, 2024 |
| S• H•••••••• I••• ••••••••• P•••••• S••••••••• | revolver first lien | $316,000 | $71,000 100c | S+600 bp | Jul 25, 2024 |
| I•••••••• L•• | revolver first lien | $965,000 | $64,000 100c | //www.monroebdc.com/20230930#London Interbank Offered Rate+575 bp | Dec 22, 2027 |
| I•••••••• L•• | revolver first lien | $965,000 | $64,000 100c | S+575 bp | Dec 22, 2027 |
| S•••••••• C••••• E••••• S•••••••• | equity equity | Not disclosed | $34,000 7c | ||
| S•••••••• C••••• E••••• S••••••••• | equity equity | Not disclosed | $34,000 7c | ||
| C•••••••• T••••••••• I•• | term loan first lien | $15,000 | $15,000 100c | SOFR+725 bp | Feb 28, 2025 |
| C•••••••• T••••••••• I••• | term loan first lien | $15,000 | $15,000 100c | S+725 bp | Feb 28, 2025 |
| S•••••••• F••••• L•• e• a•• E••••• S••••••••• | equity equity | Not disclosed | $7,000 70c | ||
| N•• E••••• I•••• E••••• S•••••••• | equity equity | Not disclosed | $5,000 100c | ||
| S•••••••• F••••• L•• e• a•• E••••• S••••••••• | equity equity | Not disclosed | $4,000 2c | ||
| T•• K•••• C••••••• L•• | term loan first lien | $1,000 | $1,000 100c | SOFR+700 bp PIK 11.42% | Apr 3, 2026 |
| T•• K•••• C••••••• L• L• C• | term loan first lien | $1,000 | $1,000 100c | S+700 bp PIK 11.42% | Apr 3, 2026 |
| C•••••••• H•••••••• L•••• | revolver first lien | $909,000 | $0 | S+610 bp | Oct 20, 2028 |
| J• B•• F•••••• I••• L••• E••••• S••••••••• P••••• s•••••• | unstated lien unstated | Not disclosed | $0 | ||
| S••••••••• F•••••••• M•••••••• G•••• H••••••• I•• | revolver first lien | $761,000 | $0 | S+575 bp | Dec 2, 2026 |
| U•••••• I•• | revolver first lien | $2.3M | $0 | S+625 bp | Dec 8, 2028 |
| E••••• B•••••••• I•••• E••••• S••••••••• | equity equity | Not disclosed | $0 | ||
| S••••••••• L•• | delayed draw term loan first lien | $2.2M | $0 | S+500 bp | Mar 24, 2028 |
| S••••• O•••••••• H••••••• I•• L•• | revolver first lien | $865,000 | $0 | S+575 bp | Nov 3, 2027 |
| N• P• P•••••• C•••••••• M•••• I•• | revolver first lien | $1.8M | $0 | S+600 bp | Oct 4, 2028 |
| G• C••••••• A••••••••• L•• | term loan first lien | $3.6M | $0 | S+675 bp | Aug 18, 2028 |
| N• P• P•••••• C•••••••• M•••• I•• | delayed draw term loan first lien | $3.2M | $0 | S+600 bp | Oct 4, 2028 |
| L• V• F• H•••••••• I••• | delayed draw term loan first lien | $802,000 | $0 | S+625 bp | Jun 10, 2027 |
| R••••••• P••••••• I••••••••• L• L• C• | revolver first lien | $743,000 | $0 | S+675 bp | Aug 4, 2026 |
| E••••• B•••••••• I••• | delayed draw term loan first lien | $19.4M | $0 | S+800 bp | Dec 18, 2026 |
| M•••••••• I•• | revolver first lien | $190,000 | $0 | S+700 bp | Feb 14, 2025 |
| M•••••••• A••••••••• L•• | delayed draw term loan first lien | $2.3M | $0 | S+600 bp | Aug 4, 2028 |
| S•• C••• S•••••••• L•• | delayed draw term loan first lien | $3.0M | $0 | S+575 bp | Dec 30, 2026 |
| C•••••••• H•••••••• L•••• | delayed draw term loan first lien | $667,000 | $0 | S+610 bp | Oct 20, 2028 |
| S••••••• G•••• H•••••••• I••• | revolver first lien | $498,000 | $0 | S+625 bp | Jul 2, 2027 |
| C••••••••• H•••••••• L•• | revolver first lien | $4.5M | $0 | S+550 bp | Jun 23, 2028 |
| S••••••••• S••••••••• L•• | revolver lien unstated | Not disclosed | $0 | ||
| R••••••• H••••• G••••• L••• E••••• S•••••••• | equity equity | Not disclosed | $0 | ||
| C••••••••• C••••••• L•• | equity equity | Not disclosed | $0 | ||
| U•••••• I•• | delayed draw term loan first lien | $6.9M | $0 | S+625 bp | Dec 8, 2028 |
| S•• E•• C••• H•••••• L•• | delayed draw term loan first lien | $8.1M | $0 | S+575 bp | Oct 5, 2029 |
| P••••••• L•• | delayed draw term loan first lien | $2.5M | $0 | S+650 bp | Dec 8, 2027 |
| N•••• H•••• U••• A••••••••• I•• | delayed draw term loan first lien | $1.1M | $0 | S+650 bp | Oct 30, 2025 |
| M•••••••• A••••••••• L•• | delayed draw term loan first lien | $2.3M | $0 | S+600 bp | Aug 4, 2028 |
| I••••••••• B••••• I•• | revolver first lien | $3.0M | $0 | S+550 bp | Aug 3, 2026 |
| E••••• N••••••• L•• | delayed draw term loan first lien | $366,000 | $0 | S+600 bp | Dec 31, 2025 |
| A•••••• H•••••• L•• | revolver first lien | $433,000 | $0 | S+725 bp | May 6, 2027 |
| Q• H•••••••• I•• | revolver first lien | $1.1M | $0 | S+625 bp | Dec 15, 2027 |
| M•• S••• A••••••••• L•• | revolver first lien | $1.4M | $0 | S+650 bp | Nov 28, 2025 |
| F••••• E••••••••• L•• | revolver first lien | $1.8M | $0 | S+561 bp | May 6, 2027 |
| 9• P•••••• B••••• L•• | revolver first lien | $963,000 | $0 | S+550 bp | Nov 24, 2026 |
| A••••• H•••••• I•• L••• E••••• S••••••••• | warrants equity | Not disclosed | $0 | Dec 21, 2032 | |
| B••• H••••••• I•• | delayed draw term loan first lien | $845,000 | $0 | S+800 bp | Dec 15, 2028 |
| C••••••••• C••••••• L•• | unstated lien unstated | Not disclosed | $0 | ||
| R••••• G•••• R•••••• C••••••• I•• | revolver first lien | $3.2M | $0 | S+600 bp | Dec 8, 2028 |
| E••••• B•••••••• I•••• E••••• S••••••••• | warrants equity | Not disclosed | $0 | ||
| O•• M••••••••• S•••••••• L•• | revolver first lien | $1.2M | $0 | S+600 bp | Nov 16, 2028 |
| K••••••• G••• P•••••••• L•• | delayed draw term loan first lien | $3.6M | $0 | S+665 bp | Dec 11, 2028 |
| J• B•• F•••••• I••• L•• | delayed draw term loan first lien | $7.6M | $0 | 9.00% | Apr 28, 2028 |
| A••••• M••••• L•• | revolver first lien | $403,000 | $0 | S+575 bp | Feb 5, 2025 |
| A•••• A• H•••••••• L•• | revolver first lien | $1.3M | $0 | S+550 bp | Aug 11, 2027 |
| A••••• H•••••• I•• L•• | revolver first lien | $667,000 | $0 | S+1026 bp PIK 1.00% | Dec 21, 2027 |
| E•••••••• L•• | revolver first lien | $2.4M | $0 | S+610 bp | Dec 8, 2027 |
| E••••• L•• | revolver first lien | $1.4M | $0 | S+800 bp PIK 2.00% | Sep 30, 2027 |
| F••••• D•••••• M••••• L•• | revolver first lien | $807,000 | $0 | S+611 bp | Nov 1, 2027 |
| R••••••• H••••• G••••• L•• | revolver first lien | $789,000 | $0 | S+575 bp | Nov 20, 2025 |
| R••••• H•••••••• I••• | delayed draw term loan first lien | $5.7M | $0 | S+650 bp | Nov 1, 2028 |
| M•••••••• A••••••••• L•• | revolver first lien | $933,000 | $0 | S+600 bp | Aug 4, 2028 |
| X••••• P••••••••• I•• | revolver first lien | $977,000 | $0 | S+650 bp | Jan 28, 2025 |
| L••••• T••••• H•••••••• L••• | revolver first lien | $2.4M | $0 | S+575 bp | Aug 2, 2027 |
| S••••••••• S••••••••• L•• | revolver first lien | $1.5M | $0 | S+750 bp | Jul 29, 2027 |
| B•••••••• L•• ••• C••••••••• H•••••••• | delayed draw term loan first lien | $1.8M | $0 | S+625 bp | Sep 8, 2027 |
| Z••••• L••••••••• L•• | unstated lien unstated | Not disclosed | $0 | ||
| J• B•• F•••••• L••• E••••• S••••••••• P••••• s•••••• | unstated lien unstated | Not disclosed | $0 | ||
| I• • P• H••••••• C••••••• L••• E••••• S••••••••• | equity equity | Not disclosed | $0 | ||
| S•••••• G••••• I•• | revolver first lien | $500,000 | $0 | S+600 bp | Dec 22, 2026 |
| K•••• P•• B•••• L•• | delayed draw term loan first lien | $3.9M | $0 | S+550 bp | Nov 15, 2029 |
| D••••••••• P•••••••• L•• | revolver first lien | $2.6M | $0 | S+700 bp | Sep 1, 2028 |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2019 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Latest schedule
- 0001742313-26-000046reported