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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••••• B••••• I•••revolver first lien$5.6M$2.5M
100c
S+625 bpSep 14, 2029
O••••• I•••term loan first lien$2.5M$2.5M
98c
S+325 bp
PIK 2.00%
Jan 20, 2031
S••••••• I•••term loan first lien$2.5M$2.5M
99c
S+710 bpOct 22, 2028
B•• O••• L••delayed draw term loan first lien$2.0M$2.5M
117c
S+876 bp
PIK 12.51%
Dec 31, 2027
B•• O••• L••delayed draw term loan first lienNot disclosed$2.5M
C••••• B••••• I•••equity equity$0$2.4M
121c
P•••••• R•••••• L•••••term loan first lien$2.4M$2.4M
100c
PIK 5.00%
Dec 31, 2029
M•• B•••• L••delayed draw term loan first lien$9.6M$2.4M
101c
S+425 bpJun 29, 2029
C•••• S•••••••• I•••delayed draw term loan first lien$4.8M$2.4M
100c
S+600 bpJul 18, 2030
I••••••••• A•••••• E••••••••• L•• •••••• c••••••••• f••••••equity equity$0$2.4M
98c
C••••• B•••••• P•••••• L••term loan first lien$2.4M$2.4M
97c
S+661 bpAug 18, 2027
K••••••• P••••••••• L••term loan first lien$2.4M$2.4M
99c
S+618 bpMay 7, 2027
P•• I•••••• L••revolver first lien$5.9M$2.4M
100c
S+550 bpFeb 12, 2030
F•••••• D••••• G•••• H•••••••• L••equity equity$0$2.4M
90c
F•••••• D••••• G•••• H•••••••• L••equity equityNot disclosed$2.4M
C••••• E••••• S•••••• L••term loan first lien$2.3M$2.3M
100c
16.25%Nov 13, 2029
P••••••• A••••••••• L••term loan first lien$3.5M$2.3M
69c
S+576 bp
PIK 4.00%
Aug 15, 2026
L••••• T••••• H•••••••• L••revolver first lien$5.4M$2.3M
100c
S+525 bpNov 1, 2028
F•••• B••••• G••••• L••term loan first lien$13.7M$2.3M
20c
S+1000 bp
PIK 13.61%
R•••• S•••••••• L••term loan first lien$2.2M$2.2M
100c
S+500 bpAug 15, 2031
P••••••• I•••delayed draw term loan first lien$4.2M$2.2M
100c
S+650 bpApr 9, 2030
S••••••••• M••••• L••revolver first lien$4.6M$2.2M
100c
S+585 bpJan 12, 2027
T•• K•••• C••••••• L••term loan first lien$4.0M$2.2M
65c
S+760 bp
PIK 1.00%
Jul 8, 2031
e••••••• I••• a•• C••••••• U• I•••term loan first lien$2.2M$2.2M
100c
S+685 bpDec 29, 2028
H••• T••••••••• I•••equity equity$0$2.2M
100c
PIK 8.00%
B•• I••••••••• P••••••• L••term loan first lien$2.2M$2.1M
98c
S+690 bpOct 7, 2026
O•••••• L••term loan first lien$2.1M$2.1M
101c
S+515 bpDec 16, 2027
C•••••• A••••• H•••••• L••revolver first lien$9.0M$2.1M
98c
S+500 bpJun 11, 2030
I••••••••• L••term loan first lien$2.1M$2.1M
104c
S+775 bpNov 27, 2028
A•••••• E••••••••• H•••••• L••delayed draw term loan first lien$4.3M$2.1M
100c
S+550 bpJun 30, 2030
V••••••• B••••• L••term loan first lien$2.1M$2.1M
100c
S+525 bpMay 6, 2031
V•••••• P••••••• L••term loan first lien$2.1M$2.1M
102c
S+761 bp
PIK 1.50%
Dec 31, 2026
N•••••• N••••••••• L••revolver first lien$5.1M$2.0M
100c
S+575 bpApr 17, 2031
P••••••• I•••revolver first lien$6.7M$2.0M
100c
S+575 bpApr 9, 2030
Y•• O• E••• L••term loan first lien$2.0M$2.0M
102c
S+586 bpJan 23, 2030
Y•• O• E••• L••unstated lien unstatedNot disclosed$2.0M
S••••••• I•••term loan first lien$1.9M$1.9M
99c
S+710 bpOct 22, 2028
e••••••• I••• a•• C••••••• U• I•••term loan first lien$1.9M$1.9M
99c
S+685 bpDec 29, 2028
P••• G•••••• I•••revolver first lien$4.3M$1.9M
95c
S+550 bpDec 20, 2030
A••••••• C•••••••• H••••• I•••unstated lien unstatedNot disclosed$1.9M
A••••••• C•••••••• H••••• I•••term loan first lien$3.2M$1.9M
98c
S+11 bp
PIK 3.76%
Dec 31, 2026
B•• B••••• I•••term loan first lien$1.9M$1.9M
101c
S+625 bpDec 21, 2029
E•••••••• L••term loan first lien$1.9M$1.9M
101c
S+475 bpDec 18, 2027
C••••• E••••• S•••••• L••term loan first lien$1.9M$1.9M
97c
14.25%Nov 13, 2029
K• M••• A••••••••• L••revolver first lien$2.5M$1.8M
98c
S+700 bpFeb 1, 2029
P••••••• I•••preferred equity equity$0$1.8M
106c
PIK 8.00%
I• • P• H••••••• C••••••• L••revolver first lien$5.3M$1.7M
99c
S+573 bpOct 3, 2028
S••••••••• S••••••••• L••unstated lien unstatedNot disclosed$1.7M
S••••••••• S••••••••• L••term loan first lien$1.7M$1.7M
101c
S+811 bp
PIK 11.76%
Jul 29, 2028
T•• G•••• A•••••• L••revolver first lien$2.9M$1.7M
104c
S+650 bpNov 20, 2030
C••••••• D••• H•••••••• I•••revolver first lien$3.3M$1.7M
99c
S+500 bpDec 20, 2030
R••••••••• H•••• f•• R••• L••warrants equity$0$1.7M
330c
Mar 5, 2034
R••••••••• H•••• f•• R••• L••warrants equityNot disclosed$1.7M
W••••••••• 7•• J• L••term loan unsecured or subordinated$1.7M$1.7M
100c
PIK 13.25%
Oct 1, 2026
e••••••• I••• a•• C••••••• U• I•••term loan first lien$1.7M$1.7M
100c
S+685 bpDec 29, 2028
T••••••••• I•••term loan first lien$1.6M$1.6M
100c
S+640 bpAug 16, 2029
K••••••• G••• P•••••••• L••term loan first lien$1.6M$1.6M
100c
S+665 bpDec 11, 2028
S••••••• I•••revolver first lien$1.6M$1.6M
99c
S+710 bpOct 22, 2028
B•••• W••• L•••• L•• ••••••••• t• p••••••• t•• e••••••equity equity$0$1.5M
96c
H••••• A••••••••• L••revolver first lien$6.1M$1.5M
100c
S+475 bpNov 7, 2030
C••• P••••••••• L••delayed draw term loan first lien$3.7M$1.5M
100c
S+650 bp
PIK 0.50%
Feb 28, 2030
B•• B••••• I•••term loan first lien$1.5M$1.5M
101c
S+625 bpDec 21, 2029
R••••••• H••••• G••••• L••term loan first lien$1.5M$1.5M
100c
S+585 bpDec 31, 2026
S•••• R•••••••• L••equity equity$0$1.5M
99c
I••• H••••• I••• a•• I••••••• H••••• I•••term loan first lien$1.5M$1.5M
100c
S+565 bpDec 17, 2027
F• P•••••• I••••••••• L••equity equity$0$1.5M
100c
G•• C••• B•••• L••equity equity$0$1.5M
100c
E••••••••• A••••••••• L••revolver first lien$2.7M$1.5M
100c
S+625 bpAug 29, 2029
P••••••• I•••term loan first lien$1.5M$1.5M
100c
S+626 bpJun 28, 2028
A••••••• B•••••••• a•• T••••••••• C•••••• L••term loan first lien$4.1M$1.4M
44c
S+1200 bp
PIK 2.00%
K••••••• G••• P•••••••• L••revolver first lien$1.4M$1.4M
100c
S+665 bpDec 11, 2028
C••••••••• C••••••• L••term loan first lien$1.4M$1.4M
102c
S+650 bpApr 21, 2030
C••••••••• C••••••• L••unstated lien unstatedNot disclosed$1.4M
A••• P••• C••••••• L••delayed draw term loan first lien$4.0M$1.4M
100c
S+475 bpNov 18, 2031
E•••••••• T•••••• L••revolver first lien$1.5M$1.4M
92c
S+661 bpNov 8, 2028
R••••••• H••••• G••••• L••term loan first lien$1.4M$1.4M
100c
S+585 bpDec 31, 2026
J• B•• F•••••• I••• L•• ••••••••• t• p••••••• e••••••equity equity$0$1.4M
121c
E•••••••• L••equity equity$0$1.4M
230c
E••••••••• L••••••• C••••••••• ••••••••• • S••••• S•••••• L•revolver first lien$3.4M$1.3M
89c
S+575 bpJan 18, 2030
P••••••• I•••term loan first lien$1.3M$1.3M
100c
S+626 bpJun 28, 2028
T•• S•••••• D••• L••revolver first lien$2.0M$1.3M
100c
S+600 bpApr 4, 2029
P••••••• G•••• H••••••• P•• L••delayed draw term loan first lien$2.4M$1.3M
100c
S+675 bpDec 19, 2031
T•• P••••••••• B••••• L••equity equity$0$1.3M
110c
V•••••••• L••revolver first lien$3.8M$1.3M
100c
S+550 bpJan 10, 2030
T•••••• M••••••• S••••••• I•••term loan first lien$1.3M$1.2M
98c
S+760 bp
PIK 2.00%
Feb 26, 2027
X••••• W•••••••• L••equity equity$0$1.2M
162c
N•••••••• C••••••••• C••••••• L••revolver first lien$1.9M$1.2M
100c
S+643 bpAug 16, 2029
F• P•••••• I••••••••• L••term loan first lien$1.2M$1.2M
100c
S+475 bpJan 23, 2032
A••••••• C••••• O••• L•delayed draw term loan first lien$2.0M$1.2M
169c
S+811 bp
PIK 11.73%
Jan 2, 2027
H••• H•••••• L••revolver first lien$2.3M$1.2M
100c
S+575 bp
PIK 1.00%
Jun 25, 2031
E•••• T•••••• a•• E••••••••• H••••••• L••delayed draw term loan first lien$5.0M$1.2M
100c
S+450 bpDec 22, 2031
I••••••••• B••••• I•••revolver first lien$2.2M$1.2M
72c
S+785 bp
PIK 2.00%
Jan 29, 2027
9• P•••••• B••••• L••equity equity$0$1.1M
298c
PIK 8.00%
T••••••• W•••••• H•••••• L••delayed draw term loan first lien$8.4M$1.1M
100c
S+450 bpAug 26, 2031
P••••••• I•••equity equity$0$1.1M
102c
PIK 8.00%
K••••••• G••• P•••••••• L••term loan first lien$1.1M$1.1M
100c
S+665 bpDec 11, 2028
V••• A••••••••• H•••••• L••term loan first lien$574,000$1.1M
129c
S+826 bp
PIK 11.90%
Jan 31, 2028
P••••••• I•••revolver first lien$1.1M$1.1M
100c
S+626 bpJun 28, 2028
B•• B••••• I•••term loan first lien$1.1M$1.1M
101c
S+625 bpDec 21, 2029
I• • P• H••••••• C••••••• L••term loan first lien$1.1M$1.1M
99c
S+535 bpOct 3, 2028
Page 6 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