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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
Borrowers
291
Mark on cost
97.8¢
First lien
86%
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$6.0B as of Jun 30, 2026
Dec 31, 2021$21.6M then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$6.0B29198c131586 bp
Mar 31, 2026$5.8B28698c113577 bp
Dec 31, 2025$5.9B29398c113584 bp
Sep 30, 2025$5.4B28199c101592 bp
All 19 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$5.1B265100c97601 bp
Mar 31, 2025$4.5B250100c98613 bp
Dec 31, 2024$8.0B246100c214623 bp
Sep 30, 2024$3.7B222100c85641 bp
Jun 30, 2024$3.4B218100c75653 bp
Mar 31, 2024$2.8B214101c65652 bp
Dec 31, 2023$6.5B212100c155661 bp
Sep 30, 2023$2.0B179100c58663 bp
Jun 30, 2023$1.8B173100c49659 bp
Mar 31, 2023$1.5B156100c51666 bp
Dec 31, 2022$2.9B159100c92655 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
C•••••••• I•••term loan first lien$1.2M$1.2M
100c
S+550 bpApr 16, 2027
C•••••••• I•••term loan first lien$1.2M$1.2M
100c
S+550 bpApr 16, 2027
B••••••• L••revolver first lien$1.8M$1.2M
99c
S+700 bpSep 8, 2027
B••••••• L••revolver first lien$1.8M$1.2M
99c
S+700 bpSep 8, 2027
S•••• B••••••••• L••term loan first lien$1.1M$1.1M
100c
S+725 bpJul 8, 2027
S•••• B••••••••• L••term loan first lien$1.1M$1.1M
100c
S+725 bpJul 8, 2027
S••••• P••••••••• E••••••••• L••revolver first lien$1.5M$1.1M
100c
S+625 bpApr 25, 2029
S••••• P••••••••• E••••••••• L••revolver first lien$1.5M$1.1M
100c
S+625 bpApr 25, 2029
S••••• P••••••••• E••••••••• L••revolver first lienNot disclosed$1.1M
B•• O••• L•• ••• B••• t• R••• L•••delayed draw term loan first lien$1.5M$1.1M
108c
S+876 bp
PIK 13.08%
Dec 31, 2027
B•• O••• L•• ••• B••• T• R••• L•••unstated lien unstatedNot disclosed$1.1M
B•• O••• L•• ••• B••• t• R••• L•••delayed draw term loan lien unstatedNot disclosed$1.1M
B•• O••• L•• ••• B••• t• R••• L•••delayed draw term loan first lien$1.5M$1.1M
108c
S+876 bp
PIK 13.08%
Dec 31, 2027
B•• O••• L••delayed draw term loan lien unstatedNot disclosed$1.1M
E•••• F•••• S•••••••• I•••preferred equity equity$0$1.1M
102c
E•••• F•••• S•••••••• I•••• E••••• S•••••••••preferred equity equity$0$1.1M
102c
I• • P• H••••••• C••••••• L••term loan first lien$1.1M$1.1M
101c
S+525 bpOct 3, 2028
I• • P• H••••••• C••••••• L••term loan first lien$1.1M$1.1M
101c
S+525 bpOct 3, 2028
R••••••• H••••• G••••• L••term loan first lien$1.1M$1.1M
100c
S+635 bpDec 31, 2026
R••••••• H••••• G••••• L••term loan first lien$1.1M$1.1M
100c
S+635 bpDec 31, 2026
V••• B••••• I•••equity equity$0$1.1M
123c
V••• B••••• I•••• E••••• S••••••••• S••••• o•equity equity$0$1.1M
123c
P•••••• R•••••• L••••revolver first lien$1.2M$1.1M
100c
S+865 bp
PIK 1.00%
Aug 29, 2025
P•••••• R•••••• L••••• ••••••••• • S••••• S•••••• L••••revolver first lien$1.2M$1.1M
100c
S+865 bp
PIK 1.00%
Aug 29, 2025
E•••••••• L••equity equity$0$1.0M
173c
E•••••••• L••• E••••• S••••••••• S••••• o•equity equity$0$1.0M
173c
C•••••••• T••••••••• I••term loan first lien$1.0M$1.0M
99c
S+775 bp
PIK 6.75%
Nov 28, 2025
C•••••••• T••••••••• I•••term loan first lien$1.0M$1.0M
99c
S+775 bp
PIK 6.75%
Nov 28, 2025
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$1.0M$1.0M
101c
S+585 bpDec 31, 2027
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$1.0M$1.0M
101c
S+585 bpDec 31, 2027
3•• N• M••••••• M•••• L••term loan first lien$1.0M$1.0M
100c
PIK 13.55%
Jul 15, 2025
3•• N• M••••••• M•••• L••term loan first lien$1.0M$1.0M
100c
PIK 13.55%
Jul 15, 2025
S••••••••• S••••••••• L••revolver first lien$1.5M$998,000
100c
S+811 bp
PIK 4.00%
Jul 29, 2027
S••••••••• S••••••••• L••revolver first lienNot disclosed$998,000
S••••••••• S••••••••• L••revolver first lien$1.5M$998,000
100c
S+811 bp
PIK 4.00%
Jul 29, 2027
G••••••• E••••••••• I•••revolver first lien$1.0M$997,000
100c
S+1200 bpNov 3, 2026
G••••••• E••••••••• I•••revolver first lien$1.0M$997,000
100c
S+1200 bpNov 3, 2026
Z••••• L••••••••• L••revolver first lienNot disclosed$992,000
Z••••• L••••••••• L••revolver first lien$2.0M$992,000
100c
S+786 bpOct 6, 2028
Z••••• L••••••••• L••revolver first lien$2.0M$992,000
100c
S+786 bpOct 6, 2028
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$989,000$989,000
100c
S+585 bpDec 31, 2027
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$989,000$989,000
100c
S+585 bpDec 31, 2027
V••• B••••• I••term loan first lien$987,000$987,000
100c
S+650 bpAug 11, 2027
V••• B••••• I•••term loan first lien$987,000$987,000
100c
S+650 bpAug 11, 2027
V••• B••••• I••term loan first lien$987,000$987,000
100c
S+650 bpAug 11, 2027
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$979,000$979,000
100c
S+585 bpDec 31, 2027
S• H•••••••• I••• ••••••••• P•••••• S•••••••••term loan first lien$979,000$979,000
100c
S+585 bpDec 31, 2027
S••••••• I••revolver first lien$1.6M$969,000
100c
S+710 bpApr 22, 2027
S••••••• I•••revolver first lien$1.6M$969,000
100c
S+710 bpApr 22, 2027
K••••••• G••• P•••••••• L••revolver first lien$1.2M$952,000
99c
S+660 bpDec 11, 2028
K••••••• G••• P•••••••• L••revolver first lien$1.2M$952,000
99c
S+660 bpDec 11, 2028
9• P•••••• B••••• L••equity equity$0$948,000
246c
PIK 8.00%
9• P•••••• B••••• L••• E••••• S•••••••••equity equity$0$948,000
246c
PIK 8.00%
K••••••• G••• P•••••••• L••term loan first lien$946,000$938,000
99c
S+665 bpDec 11, 2028
K••••••• G••• P•••••••• L••term loan first lien$946,000$938,000
99c
S+665 bpDec 11, 2028
Q• H•••••••• I•••term loan first lien$910,000$909,000
100c
S+500 bpDec 15, 2027
Q• H•••••••• I•••term loan first lien$910,000$909,000
101c
S+500 bpDec 15, 2027
Q• H•••••••• I••term loan first lien$910,000$909,000
101c
S+500 bpDec 15, 2027
Q• H•••••••• I••term loan first lien$910,000$909,000
100c
S+500 bpDec 15, 2027
Q• H•••••••• I•••term loan first lien$910,000$909,000
100c
S+500 bpDec 15, 2027
Q• H•••••••• I••term loan first lien$910,000$909,000
100c
S+500 bpDec 15, 2027
K• M••• A••••••••• L••revolver first lien$1.6M$895,000
95c
S+775 bp
PIK 2.75%
Feb 1, 2029
K• M••• A••••••••• L•••revolver first lien$1.6M$895,000
95c
S+775 bp
PIK 2.75%
Feb 1, 2029
R••••••••• M••••••• A••••••••• L•• ••• M••••• P•••••• I••••term loan first lien$913,000$888,000
99c
S+600 bp
PIK 5.00%
Sep 12, 2029
A•••• I•••equity equity$0$888,000
100c
PIK 13.00%
A•••• I•••• E••••• S•••••••••equity equity$0$888,000
100c
PIK 13.00%
R••••••••• M••••••• A••••••••• L••term loan first lien$913,000$888,000
99c
S+600 bp
PIK 5.00%
Sep 12, 2029
R••••••• N•• G••••• I••• a•• S••••• S••••••• I••••••••• L••• E••••• S••••••••• S••••• o•equity equity$0$888,000
58c
R••••••• N•• G••••• I••• a•• S••••• S••••••• I••••••••• L••equity equity$0$888,000
58c
A••••••• C••••• O••• L•delayed draw term loan first lien$1.5M$882,000
225c
S+811 bp
PIK 12.67%
Jan 2, 2027
A••••••• C••••• O••• L• ••• A•••••• M••••• L•••delayed draw term loan first lien$1.5M$882,000
225c
S+811 bp
PIK 12.67%
Jan 2, 2027
T••••••• L••• E••••• S••••••••• S••••• o•equity equity$0$874,000
27c
T••••••• L••equity equity$0$874,000
27c
R••••••• H••••• G••••• L••term loan first lien$861,000$852,000
99c
S+635 bpDec 31, 2026
R••••••• H••••• G••••• L••term loan first lien$861,000$852,000
99c
S+635 bpDec 31, 2026
C•••••••• T••••••••• I•••term loan first lien$858,000$852,000
99c
S+775 bp
PIK 6.75%
Nov 28, 2025
C•••••••• T••••••••• I••term loan first lien$858,000$852,000
99c
S+775 bp
PIK 6.75%
Nov 28, 2025
O•••••• L••revolver first lien$3.2M$850,000
100c
S+540 bpDec 16, 2027
O•••••• L••revolver first lien$3.2M$850,000
100c
S+540 bpDec 16, 2027
F••••• B••••• L••equity equity$0$849,000
F••••• B••••• L••• E••••• S•••••••••equity equity$0$849,000
B••• H••••••• I••delayed draw term loan first lien$842,000$842,000
100c
S+725 bpDec 15, 2028
B••• H••••••• I•••term loan first lien$842,000$842,000
100c
S+725 bpDec 15, 2028
F••••• B••••• L••equity equity$0$841,000
93c
PIK 8.00%
F••••• B••••• L••• E••••• S•••••••••equity equity$0$841,000
93c
PIK 8.00%
R• A••••••••• L••revolver first lien$1.3M$838,000
93c
S+810 bp
PIK 2.00%
Dec 14, 2026
R• A••••••••• L••revolver first lien$1.3M$838,000
93c
S+810 bp
PIK 2.00%
Dec 14, 2026
N•• • J• L••delayed draw term loan first lien$7.4M$830,000
100c
S+585 bpNov 30, 2027
N•• • J• L•••delayed draw term loan first lien$7.4M$830,000
100c
S+585 bpNov 30, 2027
I••• H••••• I••• a•• I••••••• H••••• I•••revolver lien unstated$4.1M$815,000
100c
S+565 bpDec 17, 2027
I••• H••••• I••• a•• I••••••• H••••• I•••revolver first lien$4.1M$815,000
100c
S+565 bpDec 17, 2027
T••••••••• I•••delayed draw term loan first lien$1.3M$811,000
99c
S+690 bpFeb 16, 2028
T••••••••• I•••delayed draw term loan first lien$1.3M$811,000
99c
S+690 bpFeb 16, 2028
J•• S•••••• L••preferred equity equity$0$800,000
100c
PIK 10.00%
J•• S•••••• L••• E••••• S•••••••••preferred equity equity$0$800,000
100c
PIK 10.00%
J•••••••• H•••••••• L••• E••••• S•••••••••equity equity$0$790,000
100c
J•••••••• H•••••••• L••equity equity$0$790,000
100c
P•• I•••••• L••revolver first lien$5.9M$786,000
100c
S+575 bpFeb 12, 2030
P•• I•••••• L••revolver first lien$5.9M$786,000
100c
S+575 bpFeb 12, 2030
D••••••••• P•••••••• L••equity equity$0$783,000
120c
Page 9 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
Capital chain

M••••• C•••••• I••••• P••• C••• sits on 269 traced paths of capital across the graphs.

PE sponsor to borrower to facility to lenderSponsor to borrower to facility to lender

Every record on each path, what it committed or lent, and as of when. The capital chain is a join across the graphs and opens with the Data Factory.

Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

Checking your plan…

Position history

4,950 field-level changes across filed schedules, latest first

Each line is one position compared between two consecutive BDC schedules of investments: principal, fair value mark, spread, PIK and maturity, as filed with the SEC.

›Connections

every published relationship on the graph
Show 1 connection across 1 kind
Manages (1)