DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
The names on this page are hidden. Create a free account and they fill in. No card, and every figure, date and source on this page is public either way.
BDC portfolio
M••••• S•••••• D••••• L•••••• F•••
Fair value
$3.9B
as of Jun 30, 2026
Principal held
$3.9B
debt pieces, the filer's figure
Cost
$4.0B
97c on cost
Unfunded
$402M
commitments not yet drawn
Positions
1,040
303 borrowers
First lien
94%
96% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
564
37 sponsors financed
Portfolio through time
Fair value by quarter end$3.9B as of Jun 30, 2026
Dec 31, 2022$2.9B then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $3.9B | 303 | 97c | 79 | 509 bp |
| Mar 31, 2026 | $4.0B | 298 | 98c | 67 | 503 bp |
| Dec 31, 2025 | $3.8B | 299 | 98c | 52 | 512 bp |
| Sep 30, 2025 | $3.8B | 279 | 98c | 49 | 520 bp |
| Jun 30, 2025 | $3.8B | 231 | 99c | 57 | 533 bp |
| Mar 31, 2025 | $11B | 224 | 99c | 51 | 540 bp |
| Dec 31, 2024 | $13B | 286 | 99c | 96 | 540 bp |
| Sep 30, 2024 | $7.3B | 215 | 99c | 46 | 557 bp |
| Jun 30, 2024 | $3.6B | 207 | 99c | 43 | 573 bp |
| Mar 31, 2024 | $6.6B | 191 | 99c | 35 | 595 bp |
| Dec 31, 2023 | $6.4B | 184 | 99c | 35 | 598 bp |
| Sep 30, 2023 | $6.2B | 179 | 99c | 23 | 605 bp |
| Jun 30, 2023 | $3.0B | 169 | 98c | 14 | 606 bp |
| Mar 31, 2023 | $2.9B | 167 | 98c | 9 | 588 bp |
| Dec 31, 2022 | $2.9B | 162 | 98c | 11 | 585 bp |
Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.
Sponsors financed
- W•••••• P••••• L•• carried4 borrowers $85.4M
- G•••••• C•••••• carried3 borrowers $94.1M
- T•• L• carried3 borrowers $81.3M
- V•••• E••••• P••••••• M••••••••• L•• inferred3 borrowers $38.4M
- F•••••••• P••••••• inferred3 borrowers $31.5M
- L••••••••• • C••• L•• carried2 borrowers $99.6M
- C••••••••• C•••••• P•••••••• L•• carried2 borrowers $76.9M
- L•••••• G•••• • P•••••••• L••• carried2 borrowers $74.5M
- S••••• P•••••••• L••• carried2 borrowers $70.2M
- A••••• I•••••••• carried2 borrowers $44.1M
- H• carried2 borrowers $41.4M
- G•• E••••• H•••••••• L•• inferred2 borrowers $35.1M
- K••••••• • C•••••• inferred1 borrower $82.1M
- P••••• C•••••• carried1 borrower $70.0M
- W••••••••• C•••••• I•••••••• carried1 borrower $66.8M
Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.
What changed
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- Repeat sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
- New sponsor and lender pairJun 30, 2026
Largest facilities held, with co-lenders
- V•• C••••••••• L•• first lien term loan15 BDCs hold it · matures Jun 29, 2029 · W••••••••• C•••••• I••••••••$66.8M 100c
- S••••••• G• A••••••••• I•• first lien term loan5 BDCs hold it · matures May 25, 2028$61.6M 94c
- F••••••••• R••• P••••••• C••• first lien term loan12 BDCs hold it · matures Oct 29, 2030 · W•••••• P••••• L••$54.2M 101c
- W•••• I•••••••• A••••••••• L•• first lien term loan23 BDCs hold it · matures Apr 30, 2030 · C••••••••• C•••••• P•••••••• L••$51.0M 101c
- P••••• H••••• I••••••••• H•••••••• I•• first lien term loan15 BDCs hold it · matures Jun 3, 2030$50.4M 100c
- P•••••• G••••• I•••••••• S•••••••• L•• first lien term loan16 BDCs hold it · matures Oct 31, 2028 · S••••• P•••••••• L•••$49.9M 98c
- R•••••• S••••••• G••••• L•• first lien term loan15 BDCs hold it · matures Jun 1, 2032$49.6M 100c
- S•••••••• L•• first lien term loan2 BDCs hold it · matures Dec 9, 2026 · T•• L•$49.2M 71c
- A••• P•• H•••••••• I•• first lien term loan3 BDCs hold it · matures Jan 4, 2028$48.0M 56c
- C•••••• I••••••••• I•• first lien term loan10 BDCs hold it · matures Aug 4, 2027$47.0M 100c
- G• D• C•••••••• A••••••••• L•• first lien term loan6 BDCs hold it · matures Mar 9, 2029$45.8M 100c
- S•••••• E••••••••• L•• first lien term loan11 BDCs hold it · matures Aug 5, 2028$45.0M 98c
Schedule of investments at Jun 30, 2026
1,040 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| V••••••••• L•• Professional S••••••s | term loan first lien | $12.3M | $12.0M 99c | SOFR+525 bp | May 6, 2031 |
| M•••••••• A••••• A••••••••• L•• | term loan first lien | $13.2M | $12.0M 92c | SOFR+600 bp | Jun 30, 2028 |
| I•••••• 3••• L•• H••••• Care Providers & S••••••s | term loan first lien | $12.0M | $12.0M 101c | SOFR+475 bp | Oct 2, 2028 |
| D•••• Electronic Equipment, Instruments & Components | term loan first lien | $12.0M | $11.9M 100c | SOFR+475 bp | Jul 20, 2029 |
| S••••••• B••••• S••••••• H•••••••• L•• | term loan first lien | $12.0M | $11.9M 100c | SOFR+6 bp | Jan 2, 2031 |
| S••••• B••••• L•• H••••• Care Providers & S••••••s | term loan first lien | $11.7M | $11.7M 100c | SOFR+5 bp | Sep 9, 2027 |
| D•• B••••• L•• H••••• Care Providers & S••••••s | term loan first lien | $11.7M | $11.7M 100c | SOFR+650 bp PIK 2.25% | Jun 2, 2031 |
| M•••••••• M•• I••••••••• H•••••••• L•• | term loan first lien | $11.7M | $11.7M 100c | SOFR+600 bp | Jul 21, 2027 |
| M•••• N• I••. Life Sciences Tools & S••••••s | term loan first lien | $11.8M | $11.6M 100c | SOFR+475 bp | Jun 27, 2031 |
| S••••••• B••••• S••••••• H•••••••• L•• | term loan first lien | $11.5M | $11.3M 99c | SOFR+6 bp | Jan 2, 2031 |
| F•• S•••• H•••••••• L•• Interactive Media & S••••••s | term loan first lien | $11.5M | $11.3M 99c | SOFR+5 bp | Sep 9, 2032 |
| R••••••• P•••••• L•• Commercial S••••••s & Supplies | term loan first lien | $11.2M | $11.2M 101c | SOFR+425 bp | May 24, 2032 |
| S••••••• A••••• S••••••• C•••. | term loan first lien | $11.1M | $11.1M 101c | SOFR+5 bp | Jun 28, 2032 |
| S••••••• S••••• B•••••••• I••. | term loan first lien | $11.3M | $11.0M 98c | SOFR+600 bp | Nov 10, 2028 |
| A•••• I••••••••• H•••••••• I••. Electrical Equipment | term loan first lien | $10.9M | $10.9M 100c | SOFR+425 bp | Apr 26, 2032 |
| A••••••••• I••. R••• Estate Management & Development | term loan first lien | $10.7M | $10.7M 100c | SOFR+650 bp | Jul 3, 2028 |
| M•••••••• C•••• I••••••••• L•• | term loan first lien | $10.9M | $10.7M 99c | SOFR+475 bp | Oct 30, 2028 |
| C•• B••••• I••. Wireless Telecommunication S••••••s | term loan first lien | $10.8M | $10.7M 100c | SOFR+5 bp | May 13, 2032 |
| S••••••• F•••••••• A••••••••• C•. | term loan first lien | $10.8M | $10.7M 100c | SOFR+5 bp | Mar 28, 2030 |
| I• I••••••••• H•••••••• L•• Professional S••••••s | term loan first lien | $10.6M | $10.6M 101c | SOFR+500 bp | Sep 22, 2028 |
| P••••••••• C••••• U• 1• I••. | term loan first lien | $10.8M | $10.6M 99c | SOFR+500 bp | May 25, 2029 |
| S••••••• H••••••• C••••••••• Financial S••••••s | term loan first lien | $10.6M | $10.6M 100c | SOFR+550 bp | May 14, 2031 |
| S••••••• R••••• B••••• L•• | term loan first lien | $10.8M | $10.5M 98c | SOFR+5 bp | Dec 17, 2031 |
| T• P•••••• B••••• I••. H••••• Care Providers & S••••••s | term loan first lien | $10.4M | $10.3M 100c | SOFR+4 bp | Dec 12, 2032 |
| S••••••• A••••••••• I••. | term loan first lien | $10.6M | $10.2M 98c | SOFR+5 bp | Jul 14, 2031 |
| T•••••• T••••••••• L•• Commercial S••••••s & Supplies | term loan first lien | $10.4M | $10.1M 98c | SOFR+500 bp | Aug 20, 2031 |
| V•••••• E••••••• S•••••••• I••. Commercial S••••••s & Supplies | term loan first lien | $10.1M | $10.0M 100c | SOFR+500 bp | Sep 29, 2031 |
| T••••••• I••••••••• L•• Commercial S••••••s & Supplies | term loan first lien | $9.9M | $9.9M 100c | SOFR+475 bp | Mar 12, 2029 |
| H••• H• S•• I•••••••• L• (H•••/Systems) IT S••••••s | equity equity | n/a | $9.8M 180c | ||
| S••••••• B•••• C•••. Commercial S••••••s & Supplies | term loan first lien | $10.7M | $9.8M 92c | SOFR+575 bp | Dec 6, 2030 |
| C••• L••••••• H•••••••• I••. Commercial S••••••s & Supplies | term loan first lien | $9.7M | $9.7M 101c | SOFR+475 bp | Aug 27, 2031 |
| U••••••• I••. IT S••••••s | term loan first lien | $9.8M | $9.6M 99c | SOFR+500 bp | Aug 25, 2031 |
| S••••••• T•••• A••••••••• I••. | term loan first lien | $9.5M | $9.5M 100c | SOFR+575 bp | Feb 19, 2030 |
| S••••••• O•••• I••. | term loan first lien | $9.4M | $9.4M 100c | SOFR+5 bp | Jan 27, 2032 |
| G•• M••••• S••• L•• Professional S••••••s | term loan first lien | $9.4M | $9.4M 101c | SOFR+500 bp | Oct 2, 2029 |
| V••••• M•••• H•••••••• L•• Multi-Utilities | term loan first lien | $9.4M | $9.3M 99c | SOFR+450 bp | Jul 24, 2031 |
| S•••••••• L•• Interactive Media & S••••••s | term loan first lien | $13.0M | $9.2M 71c | SOFR+6 bp | Dec 9, 2026 |
| L••••••••• S•••••••• L•• Diversified Consumer S••••••s | term loan first lien | $9.3M | $9.1M 99c | SOFR+600 bp | Mar 1, 2028 |
| F••••••••• R••• P••••••• C•••. I•••••••• S••••••s | term loan first lien | $9.1M | $9.1M 101c | SOFR+5 bp | Oct 29, 2030 |
| A••••••••• C•• C••••••••• P•••••• L•• | term loan first lien | $8.9M | $8.9M 100c | SOFR+475 bp | Jan 29, 2030 |
| P••••••••• I••••••• B••••• I••. H••••• Care Providers & S••••••s | term loan first lien | $8.8M | $8.8M 100c | SOFR+6 bp | Sep 1, 2027 |
| A•• G•••• H•••••••• I••. Commercial S••••••s & Supplies | term loan first lien | $8.8M | $8.7M 100c | SOFR+591 bp PIK 3.28% | Dec 22, 2032 |
| P••••••••• R••• C•••••••• I••••••••• I••• I••. | term loan first lien | $8.8M | $8.6M 99c | SOFR+450 bp | Apr 12, 2032 |
| A••••• P•••••• S•••••••• L•• Professional S••••••s | term loan first lien | $8.7M | $8.6M 100c | SOFR+450 bp | Aug 11, 2031 |
| C•••••• I••••••••• I••. IT S••••••s | term loan first lien | $8.6M | $8.6M 100c | SOFR+5 bp | Aug 4, 2027 |
| P•••••• A••••••••• P•••••• L•• Diversified Consumer S••••••s | term loan first lien | $8.6M | $8.6M 101c | SOFR+525 bp | Feb 24, 2031 |
| A••••••••• L••••••••• I••. | term loan first lien | $8.8M | $8.5M 99c | SOFR+500 bp | Jun 23, 2032 |
| m••••• M•••••• I••. H••••• Care Providers & S••••••s | term loan first lien | $8.8M | $8.5M 97c | SOFR+5 bp | Feb 25, 2033 |
| C••••••••• L•• Financial S••••••s | term loan first lien | $8.6M | $8.5M 100c | SOFR+450 bp | Apr 22, 2032 |
| T••••• H•••••• I••. H••••• Care Providers & S••••••s | term loan first lien | $8.5M | $8.4M 100c | SOFR+5 bp | Jun 28, 2029 |
| S••••••• F•••••••• O••••••••• L•• | term loan first lien | $8.7M | $8.4M 98c | SOFR+5 bp | Aug 8, 2031 |
| S••••••• M•••••• B••••• I••. | term loan first lien | $8.4M | $8.4M 100c | SOFR+5 bp | Jul 22, 2029 |
| R•••••• S••••••• G••••• L•• IT S••••••s | term loan first lien | $8.4M | $8.3M 100c | SOFR+5 bp | Jun 15, 2029 |
| A•••••• I••. Industrial Conglomerates | term loan first lien | $8.4M | $8.2M 98c | SOFR+5 bp | Jan 30, 2031 |
| S••••••• G•••••••• I••. | term loan first lien | $8.1M | $8.1M 101c | SOFR+6 bp PIK 2.25% | Jan 17, 2031 |
| S••••••• O••••••••• N•••• A••••••• I••. | term loan first lien | $8.3M | $8.0M 97c | SOFR+6 bp PIK 3.00% | Oct 30, 2031 |
| S••••••• L••••••••• I••. | term loan first lien | $9.2M | $8.0M 89c | SOFR+8 bp PIK 0.07% | Jul 2, 2029 |
| S••••••• D••••••• C••••••••• | preferred equity equity | n/a | $7.8M 94c | ||
| B••• B••••••• M••••• I••. Financial S••••••s | term loan first lien | $7.6M | $7.4M 99c | SOFR+5 bp | Jul 30, 2032 |
| I••• S•••••••• A••••••••• L•• I•••••••• S••••••s | term loan first lien | $7.4M | $7.4M 100c | SOFR+5 bp | Nov 22, 2032 |
| A••• S•••••• P•••••••• L•• Diversified Consumer S••••••s | term loan first lien | $7.2M | $7.2M 101c | SOFR+500 bp | Oct 24, 2030 |
| M••••••, Inc. I•••••••• S••••••s | term loan first lien | $7.2M | $7.2M 99c | SOFR+5 bp | Jan 7, 2033 |
| G• W•••• H•••••••• I••. Financial S••••••s | term loan first lien | $7.2M | $7.1M 100c | SOFR+450 bp | Oct 4, 2030 |
| R•••••• H•••••••• I••. Automobile Components | term loan first lien | $7.2M | $7.1M 100c | SOFR+500 bp | Nov 1, 2029 |
| C••••• I••••••••• I•• L•• Commercial S••••••s & Supplies | term loan first lien | $7.0M | $7.0M 101c | SOFR+450 bp | May 12, 2031 |
| S••••••• E••••••• I••. | term loan first lien | $7.0M | $7.0M 100c | SOFR+4 bp | May 28, 2032 |
| S•••• P••••••••• L•• Commercial S••••••s & Supplies | term loan first lien | $7.0M | $7.0M 100c | 9.52% PIK 5.75% | Jun 30, 2027 |
| I••• B••••• L•• Commercial S••••••s & Supplies | term loan first lien | $7.0M | $7.0M 101c | SOFR+500 bp | Oct 2, 2030 |
| A•• G•••• H•••••••• I••. Commercial S••••••s & Supplies | term loan first lien | $7.1M | $7.0M 100c | SOFR+6 bp PIK 0.03% | Dec 22, 2032 |
| K•••• A•••••••••, Inc. Construction & Engineering | term loan first lien | $7.6M | $6.9M 93c | SOFR+550 bp | Oct 19, 2028 |
| D• B•••••• C•••. Diversified Consumer S••••••s | term loan first lien | $7.1M | $6.9M 99c | SOFR+475 bp | Feb 10, 2032 |
| i••••• I••. H••••• Care Providers & S••••••s | term loan first lien | $7.1M | $6.8M 97c | SOFR+625 bp | Aug 18, 2028 |
| A••••••••• D••••••••• H•••••••• L•• | term loan first lien | $6.8M | $6.8M 101c | SOFR+5 bp | Aug 15, 2031 |
| N•• G••••• H••••••• I••. Electronic Equipment, Instruments & Components | term loan first lien | $6.8M | $6.7M 99c | SOFR+5 bp | Jun 4, 2032 |
| F••••• I••. I•••••••• S••••••s | term loan first lien | $6.8M | $6.7M 100c | SOFR+5 bp | Mar 31, 2033 |
| S••••••• N•••••• C••••••••• A•• C•••••• S••••••••• I••. | term loan first lien | $6.8M | $6.7M 99c | SOFR+5 bp | Jun 11, 2029 |
| B•• H••••••• I• C•••. Commercial S••••••s & Supplies | term loan first lien | $12.2M | $6.7M 57c | SOFR+785 bp | Jul 30, 2029 |
| T•• S•• L•••• L•• Aerospace & Defense | term loan first lien | $6.7M | $6.6M 100c | SOFR+5 bp | Aug 20, 2030 |
| R•••••• S••••••• G••••• L•• IT S••••••s | term loan first lien | $6.5M | $6.5M 100c | SOFR+5 bp | Jun 15, 2029 |
| J••••••• H•••••••• L•• Transportation Infrastructure | term loan first lien | $6.5M | $6.5M 99c | SOFR+5 bp | Nov 1, 2032 |
| S••••••• C•••• H•••••••• L•• | term loan first lien | $6.4M | $6.4M 100c | SOFR+5 bp | Feb 27, 2030 |
| S••••••• H•••••••• L•• Construction & Engineering | term loan first lien | $6.5M | $6.4M 100c | SOFR+450 bp | Aug 29, 2031 |
| DCA T••••, LP H••••• Care Providers & S••••••s | equity equity | n/a | $6.4M 100c | ||
| A•• H•••• L•• Diversified Consumer S••••••s | subordinated debt unsecured or subordinated | $7.7M | $6.4M 83c | 13.00% PIK 13.00% | May 23, 2031 |
| V•••••• P••••••••• L•• IT S••••••s | term loan first lien | $6.4M | $6.4M 101c | SOFR+450 bp | Dec 23, 2032 |
| H••• H• S•• I•••••••• L• (H•••/Systems) IT S••••••s | preferred equity equity | n/a | $6.3M 91c | ||
| S••••••• P•••••••• I••• I••. Commercial S••••••s & Supplies | term loan first lien | $6.1M | $6.1M 102c | SOFR+525 bp | Dec 28, 2029 |
| O••••••• I••. Diversified Telecommunication S••••••s | term loan first lien | $6.1M | $6.0M 100c | SOFR+5 bp | Apr 27, 2032 |
| U• I•••• S••• B••••• L•• Commercial S••••••s & Supplies | term loan first lien | $14.3M | $6.0M 42c | SOFR+675 bp PIK 5.75% | Jun 13, 2028 |
| A••••••••• C•• C••••••••• P•••••• L•• | term loan first lien | $6.0M | $5.9M 99c | SOFR+475 bp | Jan 29, 2030 |
| F••••••• A••••••••• C•••• I••. Commercial S••••••s & Supplies | term loan first lien | $5.8M | $5.8M 100c | SOFR+5 bp PIK 0.03% | Feb 2, 2032 |
| F••••••• A••••••••• C•••• I••. Commercial S••••••s & Supplies | term loan first lien | $5.8M | $5.8M 100c | SOFR+500 bp PIK 2.75% | Feb 2, 2032 |
| M••••• C••••••••• A••••••• I••. Wireless Telecommunication S••••••s | term loan first lien | $5.8M | $5.8M 101c | SOFR+475 bp | Oct 16, 2029 |
| W••••• A•••••••• L•• Professional S••••••s | term loan first lien | $5.8M | $5.8M 99c | SOFR+425 bp | Oct 1, 2032 |
| S••••••• C•••• A••••••••• L•• | term loan first lien | $5.9M | $5.8M 99c | SOFR+6 bp | Jun 28, 2029 |
| M•••••••• L• H••••• Care Providers & S••••••s | term loan first lien | $5.7M | $5.7M 100c | SOFR+5 bp | Sep 30, 2032 |
| P•••••••• I••••••••• L•• R••• Estate Management & Development | term loan first lien | $5.9M | $5.7M 98c | SOFR+575 bp | Oct 13, 2027 |
| S••••••• I•• H•••••• C•••. | term loan first lien | $5.7M | $5.7M 100c | SOFR+525 bp | May 2, 2029 |
| I••• S•••••••• A••••••••• L•• I•••••••• S••••••s | term loan first lien | $5.7M | $5.7M 100c | SOFR+5 bp | Nov 22, 2032 |
| A•••• S•••••• P•••••••• L•• Commercial S••••••s & Supplies | term loan first lien | $5.6M | $5.6M 100c | SOFR+5 bp | Nov 26, 2032 |
Registration
- Fiscal year end
- 1231reported
- Incorporated
- DEreported
- On the SEC BDC report
- 2020 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- Morgan Stanley Direct Lending Fund LLC; Morgan Stanley BDC LLCreported
- Latest schedule
- 0001193125-26-337915reported