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M••••• C•••••• I••••• P••• C•••

Business development companymanaged by M• A•••••••Non-traded· CHICAGO, IL

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.

Fair value
$6.0B
Schedule of investments, 10-Q and 10-K
Borrowers
291
Schedule of investments, 10-Q and 10-K
Mark on cost
97.8¢
Schedule of investments, 10-Q and 10-K
First lien
86%
Schedule of investments, 10-Q and 10-K
Schedule of investments (1,343)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $183M
    on 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•• →
  2. 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
  3. 113 → 131
    loans 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.

    Factthe schedule's PIK rates, quarter on quarterQuarter by quarter →
Every headline figure, and the identifiersCIK 1742313 · file 814-01301Show
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
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$6.4B29198c131586 bp
Mar 31, 2026$6.1B28698c113577 bp
Dec 31, 2025$6.2B29398c113584 bp
Sep 30, 2025$5.7B28199c101592 bp
All 19 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$5.4B265100c97601 bp
Mar 31, 2025$4.7B250100c98613 bp
Dec 31, 2024$8.2B246100c214623 bp
Sep 30, 2024$3.8B222100c85641 bp
Jun 30, 2024$3.5B218100c75653 bp
Mar 31, 2024$2.9B214101c65652 bp
Dec 31, 2023$6.7B212100c155661 bp
Sep 30, 2023$2.0B179100c58663 bp
Jun 30, 2023$1.8B173100c49659 bp
Mar 31, 2023$1.6B156100c51666 bp
Dec 31, 2022$3.0B159100c92655 bp
Sep 30, 2022$38.0M6n/a0n/a
Jun 30, 2022$14.3M5n/a0n/a
Mar 31, 2022$12.7M2n/a0n/a
Dec 31, 2021$21.6M4n/a0n/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 Mar 31, 2023
440 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
V••• B••••• I•••revolver first lien$956,000Not disclosedSOFR+700 bpAug 11, 2027
X••••• P••••••••• I•••revolver first lien$977,000Not disclosedSOFR+650 bpJan 28, 2025
S••••••••• L••delayed draw term loan first lien$2.2MNot disclosedSOFR+500 bpMar 24, 2028
S••••• O•••••••• H••••••• I•• L••revolver first lien$865,000Not disclosedSOFR+575 bpNov 3, 2027
P••••••• L••delayed draw term loan first lien$2.5MNot disclosedSOFR+650 bpJun 8, 2029
A••••••• C••••••••• L••revolver first lien$1.3MNot disclosedLIBOR+625 bpDec 31, 2026
K••••••• G••• P•••••••• L••revolver first lien$1.2MNot disclosedSOFR+665 bpDec 11, 2028
F••••••••• M•••• L••revolver first lien$1.3MNot disclosedSOFR+550 bpOct 4, 2027
P••••••• L••revolver first lien$1.8MNot disclosedSOFR+650 bpJun 8, 2029
D••••••••• P•••••••• L••revolver first lien$2.6MNot disclosedSOFR+700 bpSep 1, 2028
S•••••• G••••• I•••revolver first lien$500,000Not disclosedSOFR+636 bpDec 22, 2026
T••••••••• I•••revolver first lien$1.4MNot disclosedSOFR+676 bpFeb 16, 2028
A••••• M••••• L••revolver first lien$403,000Not disclosedLIBOR+575 bpFeb 5, 2025
S•••• B••••••••• L••revolver first lien$356,000Not disclosedSOFR+625 bpJul 8, 2027
C•••••••• H•••••••• L•••••revolver first lien$909,000Not disclosedSOFR+600 bpOct 20, 2028
S••••••• I•••revolver first lien$969,000Not disclosedLIBOR+700 bpApr 22, 2027
N•••• H•••• U••• A••••••••• I•••delayed draw term loan first lien$1.1MNot disclosedSOFR+650 bpOct 30, 2025
E••••• B•••••••• I•••delayed draw term loan first lien$19.4MNot disclosedSOFR+1600 bp
PIK 10.33%
Dec 18, 2026
E••••• L••revolver first lien$1.4MNot disclosedSOFR+800 bp
PIK 2.00%
Sep 30, 2027
F••••• D•••••• M••••• L••revolver first lien$807,000Not disclosedSOFR+611 bpNov 1, 2027
J• B•• F•••••• I••• L••delayed draw term loan first lien$7.6MNot disclosed9.00%Apr 28, 2028
K••••••• G••• P•••••••• L••delayed draw term loan first lien$3.0MNot disclosedSOFR+665 bpDec 11, 2028
M• C• P• S••• A••••••••• L• L• C•revolver first lien$1.4MNot disclosedSOFR+600 bpNov 28, 2025
F••••• D•••••• M••••• L••delayed draw term loan first lien$504,000Not disclosedSOFR+611 bpNov 1, 2027
D••••• A••••••••• I•••revolver first lien$1.7MNot disclosedSOFR+660 bpJun 30, 2026
A••••• H•••••• I•• L••delayed draw term loan first lien$3.3MNot disclosedSOFR+1026 bp
PIK 1.00%
Dec 21, 2027
R••••• G•••• R•••••• C••••••• I•••revolver first lien$3.2MNot disclosedSOFR+600 bpDec 8, 2028
S••••••••• F•••••••• M•••••••• G•••• H••••••• I•••revolver first lien$761,000Not disclosedLIBOR+575 bpDec 2, 2026
R••••••• H••••• G••••• L••• E••••• S••••••••equity equityNot disclosedNot disclosed
A•••• A• H•••••••• L••revolver first lien$1.3MNot disclosedSOFR+615 bpAug 11, 2027
N• P• P•••••• C•••••••• M•••• I•••revolver first lien$1.8MNot disclosedSOFR+565 bpOct 4, 2028
U•••••• I•••delayed draw term loan first lien$6.9MNot disclosedSOFR+625 bpDec 8, 2028
S•• H•••••unstated lien unstatedNot disclosedNot disclosed
S••••••••• S••••••••• L••revolver first lien$1.5MNot disclosedSOFR+750 bpJul 29, 2027
B••••••• L••delayed draw term loan first lien$1.5MNot disclosedLIBOR+600 bpSep 8, 2027
M•••••••• I•••revolver first lien$190,000Not disclosedLIBOR+700 bpFeb 14, 2025
R••••• H•••••••• I•••delayed draw term loan first lien$5.7MNot disclosedSOFR+650 bpNov 1, 2028
K• M••• A••••••••• L•• ••• S••••••• S•••••• C••••••••• L•••delayed draw term loan first lien$3.4MNot disclosedSOFR+700 bpFeb 1, 2029
F••••• E••••••••• L••revolver first lien$1.8MNot disclosedSOFR+561 bpMay 6, 2027
I••••••••• B••••• I•••revolver first lien$3.0MNot disclosedSOFR+550 bpAug 3, 2026
Page 5 of 5Previous
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