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BDC portfolio

M••••• S•••••• D••••• L•••••• F•••

BDCMSDLCIK 1782524file 814-01332NEW YORK, NYmanaged by M• C•••••• P••••••• A•••••• I•••
Fair value
$4.0B
as of Jun 30, 2026
Principal held
$3.9B
debt pieces, the filer's figure
Cost
$4.0B
100c on cost
Unfunded
$402M
commitments not yet drawn
Positions
1,040
248 borrowers
First lien
91%
92% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
564
41 sponsors financed
Portfolio through time
Fair value by quarter end$4.0B as of Jun 30, 2026
Dec 31, 2022$2.9B then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$4.0B24897c79509 bp
Mar 31, 2026$4.1B24398c67503 bp
Dec 31, 2025$3.8B24698c52512 bp
Sep 30, 2025$3.8B23098c49520 bp
Jun 30, 2025$3.8B23199c57533 bp
Mar 31, 2025$11B22499c51540 bp
Dec 31, 2024$13B22899c96540 bp
Sep 30, 2024$7.3B21599c46557 bp
Jun 30, 2024$3.6B20799c43573 bp
Mar 31, 2024$6.6B19199c35595 bp
Dec 31, 2023$6.4B18499c35598 bp
Sep 30, 2023$6.2B17999c23605 bp
Jun 30, 2023$3.0B16998c14606 bp
Mar 31, 2023$2.9B16798c9588 bp
Dec 31, 2022$2.9B16298c11585 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
No borrower on this schedule has a sponsor attribution yet.

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
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at Jun 30, 2026
1,040 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
C••••• U• 1• I••.
Pharmaceuticals
term loan first lien$841,000$822,000
99c
SOFR+500 bpMay 25, 2029
F•••••• H•••••••• L• (Fetch)
I•••••••• S••••••s
equity equityn/a$794,000
287c
K••• A••••••••• I••.
Professional S••••••s
subordinated debt unsecured or subordinated$1.2M$777,000
65c
11.67%
PIK 8.00%
Feb 28, 2030
P•••• B••••• I••.
S•••••••
term loan first lien$788,000$773,000
98c
SOFR+5 bpMay 1, 2029
L••••••••• I••.
Automobiles
term loan first lien$813,000$766,000
96c
SOFR+500 bpJun 23, 2032
A•••• S•••••• P•••••••• L••
Commercial S••••••s & Supplies
term loan first lien$770,000$764,000
100c
SOFR+450 bpNov 26, 2032
C•••, Riggs and Ingram Capital, LLC
Professional S••••••s
term loan first lien$770,000$754,000
99c
SOFR+450 bpNov 18, 2031
G•••••• U• H•••••••• I••.
H••••• C••• Providers & S••••••s
term loan first lien$739,000$735,000
100c
SOFR+475 bpSep 22, 2028
A•••••• TopCo, LLC
Electronic Equipment, Instruments & Components
equity equityn/a$734,000
100c
V••••••• B•••• H•••••••• L••
H••••• C••• Providers & S••••••s
term loan first lien$711,000$711,000
101c
10.75%
PIK 7.00%
Mar 18, 2027
A••••• A••••••••• L••
Machinery
term loan first lien$808,000$698,000
87c
SOFR+600 bpJun 30, 2028
A•••• M••••• I••.
S•••••••
term loan first lien$747,000$693,000
95c
SOFR+625 bp
PIK 5.25%
Apr 12, 2028
A••••• D••• H•••••••• I••. (A•••••Next)
Professional S••••••s
equity equityn/a$677,000
23c
L••••••••• L••
S•••••••
term loan first lien$685,000$676,000
100c
SOFR+5 bpJun 24, 2029
G••••• B•••••••, LLC
I•••••••• S••••••s
term loan first lien$703,000$672,000
98c
SOFR+5 bpSep 29, 2028
V••••••••• L••
Professional S••••••s
preferred equity equityn/a$664,000
114c
L••• H•••, LLC
Diversified Consumer S••••••s
preferred equity equityn/a$663,000
122c
A••• H•••••••• L•
Aerospace & Defense
equity equityn/a$663,000
97c
U••••••• I••.
IT S••••••s
term loan first lien$686,000$653,000
97c
SOFR+5 bpAug 25, 2031
S••••••• Topco, LP
Commercial S••••••s & Supplies
equity equityn/a$650,000
127c
I••• B••••• L••
Commercial S••••••s & Supplies
term loan first lien$644,000$639,000
101c
SOFR+500 bpOct 2, 2030
T•••• A••••••••• I••.
S•••••••
term loan first lien$634,000$634,000
101c
SOFR+575 bpFeb 19, 2030
R••••• M••••• S•• D•••• L••
Industrial Conglomerates
term loan first lien$651,000$632,000
103c
SOFR+5 bpApr 1, 2030
R•••• B•••• L••••••
S•••••••
term loan first lien$635,000$629,000
100c
SOFR+5 bpApr 8, 2032
G••• A•• B••••• L••
Financial S••••••s
term loan first lien$615,000$609,000
100c
SOFR+450 bpApr 14, 2033
R••••••• P•••• S••••••• I••.
IT S••••••s
equity equityn/a$604,000
60c
A•• H•••• L••
Diversified Consumer S••••••s
term loan first lien$672,000$600,000
90c
SOFR+575 bp
PIK 3.25%
May 23, 2030
S•••• Midco, LLC
Commercial S••••••s & Supplies
term loan second lien$1.7M$588,000
70c
Mar 12, 2034
C•••• H•••••••• L••
S•••••••
term loan first lien$586,000$586,000
101c
SOFR+5 bpFeb 27, 2030
C•••• H•••••••• L••
S•••••••
term loan first lien$554,000$554,000
102c
SOFR+5 bpFeb 27, 2029
L••••••••• S•••••••• L••
Diversified Consumer S••••••s
term loan first lien$551,000$540,000
99c
SOFR+600 bpMar 1, 2028
A••••• S••••••• C•••.
S•••••••
term loan first lien$539,000$539,000
101c
SOFR+5 bpJun 28, 2032
U••••••• I••.
IT S••••••s
term loan first lien$563,000$536,000
97c
SOFR+500 bpAug 25, 2031
S••••••••• I••.
S•••••••
term loan first lien$1.3M$532,000
43c
SOFR+775 bp
PIK 3.75%
Apr 5, 2029
P••••••••• U.S., LLC
H••••• C••• Equipment & Supplies
term loan first lien$532,000$530,000
100c
SOFR+5 bpMar 13, 2029
A•••••••• H•••••••• L••
I•••••••• S••••••s
term loan first lien$531,000$526,000
101c
SOFR+5 bpAug 31, 2028
N•• G••••• H••••••• I••.
Electronic Equipment, Instruments & Components
term loan first lien$536,000$518,000
98c
SOFR+450 bpJun 4, 2032
F•• S•••• H•••••••• L••
Interactive M•••• & S••••••s
preferred equity equityn/a$513,000
96c
A•••••• H•••••••• I••.
H••••• C••• Providers & S••••••s
term loan first lien$517,000$509,000
100c
SOFR+450 bpSep 15, 2031
R••••••• P•••••• L••
Commercial S••••••s & Supplies
term loan first lien$504,000$500,000
100c
SOFR+4 bpMay 24, 2032
T••• L••••• P•••••••• I••.
H••••• C••• Equipment & Supplies
term loan first lien$490,000$490,000
101c
SOFR+450 bpDec 19, 2029
C••• B••••••• L••
H••••• C••• Equipment & Supplies
term loan first lien$480,000$472,000
100c
SOFR+5 bpApr 29, 2033
T••• H•••••• C•••.
Chemicals
term loan first lien$480,000$460,000
97c
SOFR+575 bpMar 31, 2028
S••••• B•••••••, Inc.
S•••••••
term loan first lien$513,000$459,000
93c
SOFR+600 bpNov 10, 2028
V•• C••••••••• L••
Commercial S••••••s & Supplies
term loan first lien$456,000$455,000
100c
SOFR+550 bpJun 29, 2027
E••••• L••• H••••••• C•••.
Commercial S••••••s & Supplies
term loan first lien$469,000$454,000
98c
SOFR+500 bpApr 7, 2028
F•••••••• O••••••••• L••
S•••••••
term loan first lien$497,000$453,000
94c
SOFR+5 bpAug 8, 2031
E••••• L••• H••••••• C•••.
Commercial S••••••s & Supplies
term loan first lien$461,000$450,000
98c
SOFR+500 bpApr 7, 2028
A••••••••• I••.
Real Estate Management & Development
term loan first lien$443,000$443,000
100c
SOFR+650 bpJul 3, 2028
F•••••••• A•••••••••, Co.
S•••••••
term loan first lien$459,000$439,000
100c
SOFR+5 bpMar 28, 2030
MRI S•••••••, LLC
Real Estate Management & Development
term loan first lien$433,000$429,000
100c
SOFR+475 bpFeb 10, 2028
S•••••, Inc.
Financial S••••••s
term loan first lien$461,000$426,000
93c
SOFR+475 bpFeb 16, 2029
S•••• P••••••••• L••
Commercial S••••••s & Supplies
term loan first lien$422,000$422,000
100c
SOFR+575 bpJun 30, 2027
D•••••••• D••••• H••••••• L••
Professional S••••••s
term loan first lien$440,000$418,000
97c
SOFR+6 bp
PIK 0.03%
Sep 13, 2032
R••••• D••• S••••••••
S•••••••
equity equityn/a$400,000
64c
A•••• I••••••••• H•••••••• I••.
Electrical Equipment
term loan first lien$375,000$375,000
102c
SOFR+425 bpApr 26, 2032
A••••••••• I••.
Financial S••••••s
equity equityn/a$366,000
61c
C•• C••••••••• P•••••• L••
Automobiles
term loan first lien$357,000$353,000
99c
SOFR+5 bpJan 29, 2030
V••••••••• L••
Professional S••••••s
term loan first lien$386,000$352,000
94c
SOFR+525 bpMay 6, 2030
F••••••• A••••••••• C•••• I••.
Commercial S••••••s & Supplies
equity equityn/a$344,000
151c
G•• M••••• S••• L••
Professional S••••••s
term loan first lien$343,000$343,000
105c
SOFR+500 bpOct 2, 2029
W••••• A•••••••• L••
Professional S••••••s
term loan first lien$361,000$339,000
95c
SOFR+425 bpOct 1, 2032
V••••• S•••••• P•••••••• L••
Diversified Consumer S••••••s
term loan first lien$353,000$337,000
97c
SOFR+600 bp
PIK 2.53%
Nov 8, 2030
A•••••• I••.
Industrial Conglomerates
term loan first lien$361,000$333,000
94c
SOFR+5 bpJan 30, 2031
R••••••••• I••.
Commercial S••••••s & Supplies
term loan first lien$347,000$330,000
97c
SOFR+525 bpSep 18, 2031
B••••••••• T••••••••• L••
IT S••••••s
term loan first lien$330,000$318,000
100c
SOFR+5 bpApr 18, 2033
G•• M••••• S••• L••
Professional S••••••s
term loan first lien$318,000$318,000
104c
SOFR+500 bpOct 2, 2029
P•••••• A••••••••• I••. (P•••••• Analytics)
Commercial S••••••s & Supplies
term loan first lien$307,000$307,000
101c
SOFR+475 bpDec 20, 2028
C••••• I••••••••• I•• L••
Commercial S••••••s & Supplies
term loan first lien$305,000$305,000
103c
SOFR+450 bpMay 12, 2031
C•• C••••••••• P•••••• L••
Automobiles
term loan first lien$317,000$301,000
96c
SOFR+5 bpJan 29, 2030
A•• G•••• H•••••••• I••.
Commercial S••••••s & Supplies
term loan first lien$317,000$300,000
100c
SOFR+591 bp
PIK 3.28%
Dec 22, 2032
C•••• H•••••••• L••
S•••••••
term loan first lien$299,000$299,000
100c
SOFR+5 bpFeb 27, 2029
F•••••••• O••••••••• L••
S•••••••
term loan first lien$313,000$285,000
93c
SOFR+5 bpAug 8, 2031
H••• S••••• B••••• I••.
I•••••••• S••••••s
term loan first lien$300,000$283,000
95c
SOFR+4 bpApr 14, 2028
I•• H•••••• C•••.
S•••••••
term loan first lien$270,000$270,000
101c
SOFR+525 bpMay 2, 2028
F••••• S•••••••• G••••• L••
Containers & Packaging
term loan first lien$272,000$270,000
100c
SOFR+550 bpOct 13, 2028
R•••••• I•••••••••
Air Freight & Logistics
term loan first lien$295,000$268,000
92c
SOFR+675 bpDec 29, 2028
B••• R•••• PetC•••, LLC
H••••• C••• Providers & S••••••s
term loan first lien$270,000$268,000
99c
SOFR+500 bpAug 1, 2029
U••••••• I••.
IT S••••••s
term loan first lien$281,000$268,000
97c
SOFR+5 bpAug 25, 2031
H••••••••• I••.
S•••••••
term loan first lien$300,000$263,000
95c
SOFR+6 bpMay 22, 2030
V• G••••• H•••••••• L••
Chemicals
term loan first lien$317,000$261,000
83c
SOFR+575 bpJan 2, 2029
F•••••••• O••••••••• L••
S•••••••
equity equityn/a$248,000
248c
I••• S•••••••• A••••••••• L••
I•••••••• S••••••s
term loan first lien$248,000$246,000
101c
SOFR+5 bpNov 22, 2032
A•• G•••• H•••••••• I••.
Commercial S••••••s & Supplies
term loan first lien$254,000$240,000
100c
SOFR+6 bp
PIK 0.03%
Dec 22, 2032
B••••• S••••••• H•••••••• L••
S•••••••
term loan first lien$240,000$224,000
97c
SOFR+6 bpJan 2, 2031
T••••• B••••• I••. (T••••• Networks)
IT S••••••s
term loan first lien$256,000$223,000
88c
SOFR+5 bpFeb 2, 2032
S•••• B••••• L••
Electrical Equipment
term loan first lien$241,000$207,000
88c
SOFR+525 bpOct 15, 2031
G•••••• U• H•••••••• I••.
H••••• C••• Providers & S••••••s
term loan first lien$209,000$207,000
100c
SOFR+475 bpSep 22, 2028
C•••• I••••••••• L••
Machinery
term loan first lien$200,000$191,000
97c
SOFR+475 bpOct 30, 2028
I••• S•••••••• A••••••••• L••
I•••••••• S••••••s
term loan first lien$192,000$190,000
101c
SOFR+5 bpNov 22, 2032
C••••• P•••••••• L••
Financial S••••••s
term loan first lien$180,000$178,000
100c
SOFR+450 bpJul 28, 2031
S••••••• P•••••••• I••• I••.
Commercial S••••••s & Supplies
term loan first lien$252,000$177,000
97c
//morganstanleydirectlendingfund.com/20260630#Canadian Overnight Repo Rate Average CORRA+525 bpDec 28, 2029
O••••••• I••.
Diversified Telecommunication S••••••s
term loan first lien$183,000$177,000
100c
SOFR+5 bpApr 27, 2032
3•• R••••• M•••••• L••
Financial S••••••s
term loan first lien$187,000$172,000
100c
SOFR+475 bpMay 6, 2033
A•••• I••••••••• H•••••••• I••.
Electrical Equipment
term loan first lien$159,000$159,000
101c
SOFR+4 bpApr 26, 2032
C•••, Riggs and Ingram Capital, LLC
Professional S••••••s
term loan first lien$163,000$155,000
100c
SOFR+450 bpNov 18, 2031
G•••••••• I••.
S•••••••
term loan first lien$144,000$144,000
109c
Prime+4 bpJan 17, 2031
R•••••• I•••••••••
Air Freight & Logistics
term loan first lien$148,000$136,000
93c
SOFR+675 bpDec 29, 2028
R••••••••• P•••••• L••
S•••••••
term loan first lien$137,000$133,000
104c
SOFR+5 bpDec 7, 2028
E••••• L••• H••••••• C•••.
Commercial S••••••s & Supplies
term loan first lien$130,000$125,000
97c
SOFR+500 bpApr 7, 2028
Page 5 of 11PreviousNext
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
M••••• S•••••• D••••• L•••••• F••• LLC; M••••• S•••••• BDC LLCreported
Latest schedule
0001193125-26-337915reported