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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 Jun 30, 2026
1,343 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
C••• P••••••••• L••term loan first lien$4.3M$4.3M
100c
S+600 bp
PIK 0.50%
Feb 28, 2030
D•••••• H•••••••• I•••delayed draw term loan first lien$5.0M$4.3M
100c
S+650 bp
PIK 0.75%
Aug 27, 2030
A•••••• E••••••••• H•••••• L••term loan first lien$4.3M$4.3M
100c
S+550 bpJun 30, 2030
V•••••••• L••term loan first lien$4.3M$4.3M
101c
S+550 bpJan 10, 2030
C••••••• D••• H•••••••• I•••equity equity$0$4.3M
102c
S•••• B••••••••• L••term loan first lien$4.3M$4.2M
99c
S+550 bpJul 8, 2027
I•••• B••••term loan first lien$4.2M$4.2M
100c
S+500 bpAug 13, 2031
S•• C••• S•••••••• L••term loan first lien$4.4M$4.2M
96c
S+585 bpDec 30, 2027
G• C••••••• A••••••••• L••term loan first lien$4.2M$4.2M
100c
S+500 bpAug 18, 2028
B••••••••• I•••term loan first lien$4.1M$4.2M
102c
S+550 bpJul 17, 2029
E••••••••• R••••••• a•• C••••••••• L••term loan first lien$4.9M$4.2M
86c
S+500 bpAug 29, 2031
Z• I••••••••• I•• I•••equity equity$0$4.2M
225c
A••••••• C•••••••• H••••• I•••unstated lien unstatedNot disclosed$4.1M
A••••••• C•••••••• H••••• I•••term loan first lien$7.1M$4.1M
98c
S+11 bp
PIK 3.76%
Dec 31, 2026
C••••• B••••• I•••term loan first lien$4.1M$4.1M
101c
S+625 bpSep 14, 2029
W••••••• P••••• H••••••• I••• I•••term loan first lien$4.1M$4.1M
100c
S+685 bpJun 2, 2028
W••••••• P••••• H••••••• I••• I•••unstated lien unstatedNot disclosed$4.1M
C••• P••••••••• L••term loan first lien$4.1M$4.1M
100c
S+650 bp
PIK 0.50%
Feb 28, 2030
A•••••• E••••••••• H•••••• L••term loan first lien$4.0M$4.0M
100c
S+550 bpJun 30, 2030
S••••• P••••••••• E••••••••• L••term loan first lien$4.0M$4.0M
102c
S+636 bpApr 25, 2029
S••••• P••••••••• E••••••••• L••unstated lien unstatedNot disclosed$4.0M
T••••••• W••••• S••••••••• I•••term loan first lien$4.0M$4.0M
101c
S+400 bpJan 27, 2033
C•••• S•••••••• I•••delayed draw term loan first lien$6.7M$4.0M
100c
S+600 bpJul 18, 2030
K•• C•••••••• B•••••••• L••term loan first lien$4.0M$4.0M
101c
S+450 bpFeb 17, 2032
H••• T••••••••• I•••term loan first lien$4.0M$4.0M
101c
S+500 bpMar 3, 2031
A••• P••• C••••••• L••term loan first lien$4.0M$4.0M
102c
S+475 bpNov 18, 2031
T••••••••• I•••term loan first lien$3.9M$3.9M
101c
S+640 bpAug 16, 2029
H•••••• H•••• C•••••••• S••••••• M••••••••• L••delayed draw term loan first lien$4.6M$3.9M
100c
S+450 bpNov 5, 2030
X••••• W•••••••• L••term loan first lien$3.9M$3.9M
100c
S+550 bpMay 8, 2030
N••• A••••••••• L••preferred equity equity$0$3.8M
86c
E•••• F•••• S•••••••• I•••equity equity$0$3.8M
95c
I•••• B••••term loan first lien$3.8M$3.7M
101c
S+500 bpAug 13, 2031
R• H•••••• L••term loan first lien$3.7M$3.7M
102c
S+450 bpJan 17, 2031
U•••• C•••• H••••• L••delayed draw term loan first lien$7.4M$3.7M
99c
S+525 bpJul 1, 2030
S••••••• I•••term loan first lien$3.7M$3.7M
99c
S+710 bpOct 22, 2028
J• B•• F•••••• I••• L••delayed draw term loan first lien$7.0M$3.7M
100c
10.00%Aug 22, 2029
W••••••••• 7•• J• L••term loan unsecured or subordinated$3.6M$3.6M
100c
Oct 1, 2026
F•••••• L••term loan first lien$4.7M$3.6M
77c
S+610 bpMay 19, 2029
I••• H••••• I••• a•• I••••••• H••••• I•••term loan first lien$3.6M$3.6M
100c
S+565 bpDec 17, 2027
B••• H••••••• I•••revolver first lien$4.5M$3.5M
100c
S+550 bpDec 15, 2028
C•••••• A••••• H•••••• L••delayed draw term loan first lien$10.2M$3.5M
98c
S+500 bpJun 11, 2030
C•••••• M••••••• L••preferred equity equity$0$3.5M
100c
PIK 10.00%
F•••• R•••••••• L••equity equityNot disclosed$3.5M
F•••• R•••••••• L••equity equity$0$3.5M
96c
N••••• T••••••••• L••unstated lien unstatedNot disclosed$3.5M
N••••• T••••••••• L••term loan first lien$3.5M$3.5M
101c
S+611 bpSep 21, 2027
K••••••• G••• P•••••••• L••term loan first lien$3.5M$3.5M
101c
S+665 bpDec 11, 2028
A••••••• C•••••••• H••••• I•••term loan first lien$6.0M$3.5M
98c
S+11 bp
PIK 3.76%
Dec 31, 2026
A••••••• C•••••••• H••••• I•••unstated lien unstatedNot disclosed$3.5M
S••••••••• I•••delayed draw term loan first lien$8.3M$3.4M
100c
S+625 bpOct 16, 2031
T•••••• B•••• C••••delayed draw term loan first lien$8.0M$3.4M
100c
S+500 bpJan 22, 2031
A••••••••• L••delayed draw term loan first lien$5.2M$3.3M
99c
S+500 bpJan 2, 2031
V••••••• B••••• L••term loan first lien$3.3M$3.3M
100c
S+525 bpMay 6, 2031
R••••••• H••••• G••••• L••term loan first lien$3.3M$3.3M
100c
S+585 bpDec 31, 2026
L•••• W••• D••••• M••••••••• L••equity equity$0$3.3M
101c
N••••••••• L••equity equity$0$3.3M
237c
T•• G•••• A•••••• L••revolver first lien$5.1M$3.2M
100c
S+625 bpNov 20, 2030
W••••••••• 7•• J• L••term loan unsecured or subordinated$3.2M$3.2M
100c
PIK 13.25%
Oct 1, 2026
E••••••••• A••••••••• L••term loan first lien$3.3M$3.2M
100c
S+550 bpAug 29, 2029
X••••• P••••••••• I•••term loan first lien$3.2M$3.2M
100c
S+600 bpJan 28, 2027
V•• E••••••••• I•••term loan first lien$3.2M$3.2M
99c
S+710 bpJan 12, 2028
A•••••• H•••••• L••term loan first lien$3.2M$3.2M
100c
S+485 bpMay 6, 2028
A•• I••• L••term loan first lien$3.2M$3.2M
100c
S+650 bpOct 31, 2029
A••••• M••••• L••equity equity$0$3.1M
132c
PIK 8.00%
A••••• M••••• L••equity equityNot disclosed$3.1M
P••••••• I•••term loan first lien$3.1M$3.1M
98c
S+600 bpApr 9, 2030
E•••• T•••••• a•• E••••••••• H••••••• L••term loan first lien$3.0M$3.0M
101c
S+450 bpDec 22, 2031
S••••••• I•••term loan first lien$3.0M$3.0M
99c
S+525 bpDec 23, 2030
T•••••• B•••• C•••• ••••••equity equity$0$2.9M
112c
K• M••• A••••••••• L••term loan first lien$3.0M$2.9M
98c
S+700 bpFeb 1, 2029
L•••• W••• D••••• M••••••••• L••term loan first lien$2.9M$2.9M
102c
S+550 bpJun 29, 2029
S•• I••••••••• H•••••••• L••term loan first lien$2.9M$2.9M
101c
S+510 bpDec 28, 2028
A••••• D••••••••• G••••• I•••term loan first lien$2.9M$2.9M
100c
S+450 bpJun 7, 2029
R••••••• I••••••••• L••delayed draw term loan first lien$7.6M$2.9M
100c
S+450 bpMay 16, 2031
A••••• I•••term loan first lien$3.1M$2.8M
92c
S+615 bpNov 1, 2026
A••••••• C••••• O••• L•equity equity$0$2.8M
24c
G•• M•••• H•••••••• L••equity equity$0$2.8M
59c
N•• • J• L•••revolver first lien$5.3M$2.8M
100c
S+475 bpNov 30, 2028
C••••• C••••• I•••••• C••••equity equity$0$2.8M
101c
PIK 8.00%
I•••••••• L••term loan first lien$2.8M$2.8M
100c
S+565 bpDec 22, 2027
C••••• B•••••• P•••••• L••term loan first lien$2.9M$2.8M
97c
S+661 bpAug 18, 2027
T•• G•••• A•••••• L••delayed draw term loan first lien$12.3M$2.8M
101c
S+625 bpNov 20, 2030
O••• N••••••••• C••••equity equity$0$2.8M
139c
U•••••• I•••equity equity$0$2.8M
171c
B••• D••••• L••revolver first lien$3.9M$2.7M
99c
S+475 bpJun 2, 2031
I••• H••••• I••• a•• I••••••• H••••• I•••revolver first lien$4.1M$2.7M
100c
S+565 bpDec 17, 2027
S••••••••• M••••• L••term loan first lien$2.7M$2.7M
100c
S+585 bpJan 12, 2027
S•••• H•••••••• I•••term loan first lien$3.0M$2.7M
93c
S+625 bp
PIK 4.25%
Jun 15, 2029
C•••••• A••••• H•••••• L••equity equity$0$2.7M
71c
PIK 8.00%
M•••••• P••••••• L••preferred equity equity$0$2.7M
99c
F• B•• B••••• I•••delayed draw term loan first lien$6.9M$2.7M
100c
S+475 bpJun 21, 2031
F•••• R•••••••• L••preferred equity equity$0$2.7M
150c
F•••• R•••••••• L••preferred equity equityNot disclosed$2.7M
C••••• B•••••• P•••••• L••term loan first lien$2.7M$2.6M
97c
S+661 bpAug 18, 2027
B••• F•••••• L•• a•• A••••••• G••••• L••••••••• S•••revolver first lien$5.2M$2.6M
100c
S+525 bpAug 5, 2031
A•••••• E••••••••• H•••••• L••term loan first lien$2.6M$2.6M
101c
S+550 bpJun 30, 2030
A•• I•• L••term loan first lien$2.5M$2.5M
100c
S+640 bpMay 25, 2028
A•••••• E••••••••• H•••••• L••term loan first lien$2.5M$2.5M
102c
S+550 bpJun 30, 2030
T• M••••••••• H••••• L••equity equityNot disclosed$2.5M
T• M••••••••• H••••• L••equity equity$0$2.5M
88c
Page 5 of 14PreviousNext
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