DFX Intelligence
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S•• P•••••• C••••• I••••• B•• L••
A non-traded business development company, managed by S•• C•••••• P•••••••• L••, holding $131M across 17 borrowers at Jun 30, 2026.
Composed from this BDC's filings and its latest schedule of investments.
As of · the latest schedule of investments read for this BDC
- Fair value
- $131M
- Borrowers
- 17
- Mark on cost
- 93.9¢
- First lien
- 55%
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
Schedule of investments, 10-Q and 10-K
As of · the latest schedule of investments read for this BDC
What matters now
- 97.2¢ → 93.9¢book mark on cost
Marked its book down from 97.2¢ to 93.9¢ on the dollar in the quarter to Jun 30, 2026.
Q2 2026 · The whole portfolio was marked down; net asset value follows.
- 1 below 80¢$17.6M principal
1 position across 1 borrower marked below 80¢ on cost, $17.6M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - $267M → $131Mfair value, 4 quarters
Its portfolio shrank 51% at fair value over the last four quarters.
Q2 2026 · The book is shrinking.
- 22 → 17borrowers
Lost a net 5 borrowers in the quarter to Jun 30, 2026, to 17.
Q2 2026 · The book is turning over faster than usual.
Every headline figure, and the identifiersCIK 1743415 · file 814-01294ShowHide
Fair value
$131M
as of Jun 30, 2026
Principal held
$113M
debt pieces, the filer's figure
Cost
$152M
94c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
19
17 borrowers
First lien
55%
81% debt by fair value
Quarters on the tape
13
since Dec 31, 2022
Facilities held
19
1 sponsors financed
Portfolio through timeHow each quarter is readEach quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Fair value by quarter end$131M as of Jun 30, 2026
Dec 31, 2022$2.5B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $131M | 17 | 94c | 1 | 588 bp |
| Mar 31, 2026 | $179M | 22 | 97c | 2 | 613 bp |
| Dec 31, 2025 | $189M | 22 | 98c | 0 | 607 bp |
| Sep 30, 2025 | $235M | 27 | 99c | 0 | 598 bp |
All 14 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $267M | 28 | 99c | 0 | 595 bp |
| Mar 31, 2025 | $1.2B | 31 | 100c | 0 | 594 bp |
| Dec 31, 2024 | $1.7B | 36 | 100c | 1 | 588 bp |
| Sep 30, 2024 | $1.1B | 38 | 101c | 1 | 592 bp |
| Jun 30, 2024 | $1.4B | 43 | 101c | 0 | 600 bp |
| Mar 31, 2024 | $1.4B | 44 | 101c | 0 | 595 bp |
| Dec 31, 2023 | $1.8B | 49 | 101c | 0 | 602 bp |
| Sep 30, 2023 | $1.0B | 53 | 100c | 0 | 600 bp |
| Jun 16, 2023 | $14.4M | 2 | n/a | 0 | n/a |
| Dec 31, 2022 | $2.5B | 59 | 101c | 0 | 601 bp |
Sponsors financedHow sponsors are countedCounted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
No borrower on this schedule has a sponsor attribution yet.
What changed
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Lender left a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
Full timeline · 20 eventsShow fewer
- Marked down (one lender)Mar 31, 2026
- PIK interest appearsMar 31, 2026
- PIK interest appearsMar 31, 2026
- Lender left a facilityDec 31, 2025
- Lender left a facilityDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Lender left a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- Maturity extended (observed)Sep 30, 2025
- Lender left a facilityMar 31, 2025
- Spread increasedMar 31, 2025
- Lender left a facilityDec 31, 2024
- Lender left a facilityDec 31, 2024
Largest facilities held, with co-lenders
- R••• C••• first lien term loan3 BDCs hold it · matures Aug 31, 2029$17.6M 72c
- B•••••• H••••• S•••••••• I•• first lien term loan4 BDCs hold it · matures Jun 30, 2027$15.5M 95c
- P••••••• M••••••••• L•• other2 BDCs hold it · matures Aug 31, 2027$14.7M 100c
- i••••• I•• first lien term loan27 BDCs hold it · matures Aug 31, 2028$14.6M 93c
- A•••••• B••••••••• I•• first lien term loan3 BDCs hold it · matures Aug 31, 2029$12.3M 105c
- C• S•• H••••••• C•••• •••••••• other1 BDC hold it · matures Jun 30, 2028$12.2M 101c
- S••••• G•••• H•••••••• L•• first lien term loan6 BDCs hold it · matures Jun 30, 2028$7.4M 101c
- T••• M••••••••• L•• first lien term loan2 BDCs hold it · matures Feb 28, 2027$6.3M 86c
- A•• S•••• A• P••••• L•• other1 BDC hold it · matures Sep 30, 2026$4.9M 95c
- V••••••••• I•• first lien term loan3 BDCs hold it · matures Sep 30, 2027$4.8M 99c
- I•••••• B••••••• C••••••••• other5 BDCs hold it · matures Jan 31, 2029 · possible sponsor D••••••• C•••••• M••••••••• L•••$2.4M 101c
- V••••••• H•••••••• L•• preferred equity3 BDCs hold itNot disclosed 102c
Schedule of investments at Jun 30, 2026
19 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| B•••••• H••••• S•••••••• I••• H••••• C••• P•••••••• & Services | term loan first lien | $15.5M | $14.8M 95c | SOFR+500 bp | Jun 30, 2027 |
| P••••••• M••••••••• L•• H••••• C••• P•••••••• & Services | unstated lien unstated | $14.7M | $14.7M 100c | SOFR+500 bp | Aug 31, 2027 |
| A•••••• B••••••••• I••• P••••••••• | term loan first lien | $12.3M | $13.6M 105c | SOFR+595 bp | Aug 31, 2029 |
| i••••• I••• S••••••• | term loan first lien | $14.6M | $13.4M 93c | SOFR+575 bp | Aug 31, 2028 |
| R••• C•••• L••• S••••••• T•••• & Services | term loan first lien | $17.6M | $12.3M 72c | SOFR+725 bp PIK 7.25% | Aug 31, 2029 |
| C• S•• H••••••• C•••• •••••••• A•••••••••) | unstated lien unstated | $12.2M | $12.2M 101c | SOFR+525 bp | Jun 30, 2028 |
| V••••••• H•••••••• L•• ••••••••• H••••• C••• E•••••••• & S••••••• | preferred equity equity | Not disclosed | $11.7M 102c | ||
| S•••••• T•••• B••••••• L•• B•••••••• R••••• | equity equity | Not disclosed | $9.8M 43c | ||
| S••••• G•••• H•••••••• L•• H••••• C••• E•••••••• & S••••••• | term loan first lien | $7.4M | $7.4M 101c | SOFR+550 bp | Jun 30, 2028 |
| T••• M••••••••• L•• H••••• C••• P•••••••• & Services | term loan first lien | $6.3M | $5.4M 86c | SOFR+700 bp | Feb 28, 2027 |
| V••••••••• I••• H••••• C••• E•••••••• & S••••••• | term loan first lien | $4.8M | $5.0M 99c | SOFR+600 bp | Sep 30, 2027 |
| A•• S•••• A• P••••• L•• T•••••• Companies & D••••••••• | unstated lien unstated | $4.9M | $4.6M 95c | SOFR+650 bp | Sep 30, 2026 |
| T• T•••• H•••••••• L•• G••••• T••••••••• | preferred equity equity | Not disclosed | $3.5M 81c | ||
| I•••••• B•••••••• L•• G••••• T••••••••• | unstated lien unstated | $2.4M | $2.4M 101c | SOFR+550 bp | Jan 31, 2029 |
| V••••••• H•••••••• L•• H••••• C••• E•••••••• & S••••••• | equity equity | Not disclosed | $224,000 191c | ||
| S••••••••• H•••••••• I•• H••••• C••• E•••••••• & S••••••• | equity equity | Not disclosed | $23,000 100c | ||
| M••••••••• I••• H••••• C••• E•••••••• & S••••••• | warrants equity | Not disclosed | $10,000 83c | ||
| C••••••••• T••••••••• I••• P••••••••• | warrants equity | Not disclosed | $0 0c | ||
| T• T•••• H•••••••• L•• G••••• T••••••••• | equity equity | Not disclosed | $0 |
Page 1 of 1
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2019 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Latest schedule
- 0001193125-26-332724reported