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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 Dec 31, 2024
1,798 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
W••••••• P••••• H••••••• I••• I•••delayed draw term loan first lien$4.0M$2.0M
100c
S+685 bp
PIK 5.75%
Jun 2, 2028
W••••••• P••••• H••••••• I••• I•••delayed draw term loan first lien$4.0M$2.0M
100c
S+685 bp
PIK 5.75%
Jun 2, 2028
W••••••• P••••• H••••••• I••• I•••delayed draw term loan lien unstatedNot disclosed$2.0MS+685 bp
8•• A••••• F••• • P••••••••• I•••term loan first lien$2.0M$2.0M
100c
S+375 bpOct 1, 2025
8•• A••••• F••• • P••••••••• I•••term loan first lien$2.0M$2.0M
100c
S+375 bpOct 1, 2025
S••••••• I••term loan first lien$1.9M$1.9M
100c
S+710 bpApr 22, 2027
S••••••• I•••term loan first lien$1.9M$1.9M
100c
S+710 bpApr 22, 2027
S•••• B••••••••• L••term loan first lien$1.9M$1.9M
100c
S+725 bpJul 8, 2027
S•••• B••••••••• L••term loan first lien$1.9M$1.9M
100c
S+725 bpJul 8, 2027
B•• B••••• I•••term loan first lien$1.9M$1.9M
103c
S+600 bpDec 21, 2029
B•• B••••• I•••term loan first lien$1.9M$1.9M
103c
S+600 bpDec 21, 2029
B•• B••••• I•••term loan first lien$1.9M$1.9M
103c
S+600 bpDec 21, 2029
R••••••• H••••• G••••• L••term loan first lien$1.9M$1.9M
99c
S+635 bpDec 31, 2026
R••••••• H••••• G••••• L••term loan first lien$1.9M$1.9M
99c
S+635 bpDec 31, 2026
K• M••• A••••••••• L••term loan first lien$2.0M$1.9M
95c
S+775 bp
PIK 2.75%
Feb 1, 2029
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$1.9M$1.9M
100c
S+585 bpDec 31, 2027
K• M••• A••••••••• L•••term loan first lien$2.0M$1.9M
95c
S+775 bp
PIK 2.75%
Feb 1, 2029
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$1.9M$1.9M
100c
S+585 bpDec 31, 2027
M•••••••• I•••term loan first lien$1.9M$1.9M
100c
S+715 bpSep 30, 2025
M•••••••• I••term loan first lien$1.9M$1.9M
100c
S+715 bpSep 30, 2025
O••• N••••••••• C••••• E••••• S••••••••• S••••• o•equity equity$0$1.8M
90c
O••• N••••••••• C••••equity equity$0$1.8M
90c
A•••••• N•••••• R••••••••• L••revolver first lien$2.2M$1.8M
100c
S+636 bpMay 18, 2026
A•••••• N•••••• R••••••••• L••revolver first lien$2.2M$1.8M
100c
S+636 bpMay 18, 2026
J• B•• F•••••• L••revolver first lien$2.9M$1.7M
100c
10.00%Dec 24, 2026
J• B•• F•••••• L••revolver first lien$2.9M$1.7M
100c
10.00%Dec 24, 2026
W••••••••• 7•• J• L••• J•••••term loan lien unstated$1.7M$1.7M
100c
PIK 4.00%
Oct 1, 2026
W••••••••• 7•• J• L••term loan unsecured or subordinated$1.7M$1.7M
100c
PIK 4.00%
Oct 1, 2026
C••••• B••••• I••delayed draw term loan first lien$12.0M$1.7M
101c
S+600 bpSep 14, 2029
C••••• B••••• I•••delayed draw term loan first lien$12.0M$1.7M
101c
S+600 bpSep 14, 2029
V••• B••••• I••term loan first lien$1.7M$1.7M
100c
S+650 bpAug 11, 2027
V••• B••••• I••term loan first lien$1.7M$1.7M
100c
S+650 bpAug 11, 2027
V••• B••••• I•••term loan first lien$1.7M$1.7M
100c
S+650 bpAug 11, 2027
A•••• A• H•••••••• L••term loan unsecured or subordinated$4.0M$1.7M
43c
10.00%Aug 11, 2027
A•••• A• H•••••••• L••• J•••••term loan first lien$4.0M$1.7M
43c
10.00%Aug 11, 2027
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$1.7M$1.7M
100c
S+585 bpDec 31, 2027
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$1.7M$1.7M
100c
S+585 bpDec 31, 2027
R••••• H•••••••• I••delayed draw term loan first lien$5.7M$1.7M
100c
S+625 bpNov 1, 2029
R••••• H•••••••• I•••delayed draw term loan first lien$5.7M$1.7M
100c
S+625 bpNov 1, 2029
A•••• A• H•••••••• L••term loan unsecured or subordinated$1.8M$1.7M
92c
S+640 bp
PIK 10.72%
Aug 11, 2027
A•••• A• H•••••••• L••• J•••••term loan first lien$1.8M$1.7M
92c
S+640 bp
PIK 10.72%
Aug 11, 2027
B•••• W••• L•••• L••term loan first lien$1.7M$1.7M
100c
S+950 bpJun 14, 2027
B•••• W••• L•••• L••term loan first lien$1.7M$1.7M
100c
S+950 bpJun 14, 2027
R••••••••• H•••• f•• R••• L••• E••••• S•••••••••preferred equity equity$0$1.7M
85c
R••••••••• H•••• f•• R••• L••preferred equity equity$0$1.7M
85c
P••••••• A••••••••• L••term loan first lien$1.9M$1.6M
87c
S+526 bpMar 17, 2025
P••••••• A••••••••• L••term loan first lien$1.9M$1.6M
87c
S+526 bpMar 17, 2025
B•••• W••• L•••• L•• E••••• S•••••••••equity equity$0$1.6M
102c
B•••• W••• L•••• L••equity equity$0$1.6M
102c
M•••••• C••••••••• L••term loan first lien$1.6M$1.6M
101c
S+710 bpAug 31, 2028
M•••••• C••••••••• L••term loan first lien$1.6M$1.6M
101c
S+710 bpAug 31, 2028
W••••••• P••••• H••••••• I••• I•••revolver first lienNot disclosed$1.5MS+685 bp
W••••••• P••••• H••••••• I••• I•••revolver first lien$2.0M$1.5M
100c
S+685 bp
PIK 5.75%
Jun 2, 2028
W••••••• P••••• H••••••• I••• I•••revolver first lien$2.0M$1.5M
100c
S+685 bp
PIK 5.75%
Jun 2, 2028
H••••• A••••••••• L••equity equity$0$1.5M
100c
H••••• A••••••••• L••• E••••• S•••••••••equity equity$0$1.5M
100c
S•• H••••• 2• L••equity equity$0$1.5M
100c
S•• H••••• 2•equity equity$0$1.5M
100c
D••••••••• M••••• I••term loan first lien$1.5M$1.5M
102c
S+665 bpJun 21, 2028
D••••••••• M••••• I•••term loan first lien$1.5M$1.5M
102c
S+665 bpJun 21, 2028
S••••••••• S••••••••• L••term loan first lien$1.5M$1.5M
102c
S+811 bp
PIK 4.00%
Jul 29, 2027
S••••••••• S••••••••• L••term loan first lien$1.5M$1.5M
102c
S+811 bp
PIK 4.00%
Jul 29, 2027
S••••••••• S••••••••• L••unstated lien unstatedNot disclosed$1.5M
P••••••• I•••preferred equity equity$0$1.5M
100c
PIK 8.00%
P••••••• I•••• E••••• S•••••••••preferred equity equity$0$1.5M
100c
PIK 8.00%
T••• P••••• C••••••• L••term loan first lien$1.5M$1.5M
101c
S+511 bpDec 17, 2027
A••••• Y•••• •••• I••• J•••••term loan first lien$1.9M$1.5M
84c
S+826 bp
PIK 6.50%
Mar 12, 2029
A••••• Y•••• •••• I•••term loan unsecured or subordinated$1.9M$1.5M
84c
S+826 bp
PIK 6.50%
Mar 12, 2029
T••• P••••• C••••••• L••term loan first lien$1.5M$1.5M
101c
S+511 bpDec 17, 2027
I••• H••••• I••• a•• I••••••• H••••• I•••term loan first lien$1.5M$1.5M
101c
S+560 bpDec 17, 2027
I••• H••••• I••• a•• I••••••• H••••• I•••term loan first lien$1.5M$1.5M
101c
S+560 bpDec 17, 2027
A••••••• C••••• O••• L• ••• A•••••• M••••• L•••• E••••• S•••••••••equity equity$0$1.5M
13c
A••••••• C••••• O••• L• ••• A•••••• M••••• L•••equity equity$0$1.5M
13c
T•• H•••• C•••••••••term loan first lien$1.6M$1.5M
92c
S+361 bpJun 30, 2028
T•• H•••• C•••••••••term loan first lien$1.6M$1.5M
92c
S+361 bpJun 30, 2028
B•• B••••• I•••revolver first lien$6.8M$1.4M
100c
S+600 bpDec 21, 2029
B•• B••••• I•••revolver first lien$6.8M$1.4M
100c
S+600 bpDec 21, 2029
A•••• A• H•••••••• L••• J•••••term loan first lien$1.5M$1.4M
96c
S+615 bp
PIK 10.47%
Aug 11, 2027
A•••• A• H•••••••• L••term loan unsecured or subordinated$1.5M$1.4M
96c
S+615 bp
PIK 10.47%
Aug 11, 2027
L••••• L••preferred equity equity$0$1.4M
84c
L••••• L••• E••••• S•••••••••preferred equity equity$0$1.4M
84c
A•• H••••••• I•• C••••• J•••••term loan first lien$1.8M$1.4M
78c
S+700 bp
PIK 6.00%
May 9, 2027
A•• H••••••• I•• C••••term loan unsecured or subordinated$1.8M$1.4M
78c
S+700 bp
PIK 6.00%
May 9, 2027
T••••••• L••term loan unsecured or subordinated$1.8M$1.4M
79c
S+1026 bp
PIK 14.89%
Jun 18, 2029
T••••••• L••• J•••••term loan first lien$1.8M$1.4M
79c
S+1026 bp
PIK 14.89%
Jun 18, 2029
K••••••• G••• P•••••••• L••term loan first lien$1.4M$1.4M
99c
S+665 bpDec 11, 2028
K••••••• G••• P•••••••• L••term loan first lien$1.4M$1.4M
99c
S+665 bpDec 11, 2028
e••••••• I••• a•• C••••••• U• I••term loan first lien$1.3M$1.3M
100c
S+710 bpSep 21, 2027
e••••••• I••• a•• C••••••• U• I•••term loan first lien$1.3M$1.3M
100c
S+710 bpSep 21, 2027
T•• G•••• A•••••• L••revolver first lien$5.1M$1.3M
98c
S+625 bpNov 20, 2030
T•• G•••• A•••••• L••revolver first lien$5.1M$1.3M
98c
S+625 bpNov 20, 2030
I• • P• H••••••• C••••••• L••preferred equity equity$0$1.2M
78c
I• • P• H••••••• C••••••• L••• E••••• S•••••••••preferred equity equity$0$1.2M
78c
S••••••••• M•••• M•••• L••• J•••••term loan first lien$1.8M$1.2M
66c
S+976 bp
PIK 2.75%
Mar 31, 2025
S••••••••• M•••• M•••• L••term loan unsecured or subordinated$1.8M$1.2M
66c
S+976 bp
PIK 2.75%
Mar 31, 2025
B•• O••• L•• ••• B••• t• R••• L•••term loan unsecured or subordinated$1.8M$1.2M
70c
PIK 7.50%
Dec 31, 2027
B•• O••• L•• ••• B••• t• R••• L•••unstated lien unstatedNot disclosed$1.2M
B•• O••• L••unstated lien unstatedNot disclosed$1.2M
B•• O••• L•• ••• B••• t• R••• L•••• J•••••term loan lien unstated$1.8M$1.2M
70c
PIK 7.50%
Dec 31, 2027
B•• O••• L•• ••• B••• T• R••• L•••unstated lien unstatedNot disclosed$1.2M
Page 8 of 18PreviousNext
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