DFX Intelligence
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S••••• C•••• C•••••• C•••
Business development companymanaged by S••••• C•••• I••••••••• M••••••••• L••Non-traded· CHARLOTTE, NC
A non-traded business development company, managed by S••••• C•••• I••••••••• M••••••••• L••, holding $431M across 232 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
- $431M
- Borrowers
- 232
- Mark on cost
- 96.0¢
- First lien
- 25%
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
- 9 below 80¢$6.4M principal
9 positions across 7 borrowers marked below 80¢ on cost, $6.4M principal.
Q2 2026 · Marks this low usually come before non-accrual or a restructuring.
Derivedeach position's fair value over cost, 30 Jun 2026 - 94.2¢ → 96.0¢book mark on cost
Marked its book up from 94.2¢ to 96.0¢ on the dollar in the quarter to Jun 30, 2026.
Q2 2026 · The whole portfolio was marked up.
- 226 → 232borrowers
Added a net 6 borrowers in the quarter to Jun 30, 2026, to 232.
Q2 2026 · The book is turning over faster than usual.
Every headline figure, and the identifiersCIK 1817825 · file 814-01351ShowHide
Fair value
$431M
as of Jun 30, 2026
Principal held
$113M
debt pieces, the filer's figure
Cost
$450M
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
295
232 borrowers
First lien
25%
25% debt by fair value
Quarters on the tape
6
since Dec 31, 2024
Facilities held
235
23 sponsors financed
Portfolio through time
Fair value by quarter end$431M as of Jun 30, 2026
Dec 31, 2024$618M then
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2026 | $431M | 232 | 96c | 0 | 282 bp |
| Mar 31, 2026 | $435M | 226 | 94c | 0 | 294 bp |
| Dec 31, 2025 | $615M | 226 | 96c | 0 | 291 bp |
| Sep 30, 2025 | $479M | 220 | 97c | 0 | 295 bp |
All 6 quartersShow fewer
| Quarter | Fair value | Borrowers | On cost | PIK pos. | Avg spread |
|---|---|---|---|---|---|
| Jun 30, 2025 | $463M | 195 | 97c | 0 | 315 bp |
| Dec 31, 2024 | $618M | 191 | 97c | 0 | 339 bp |
Sponsors financed
No borrower on this schedule has a sponsor attribution yet.
What changed
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
Full timeline · 20 eventsShow fewer
- New borrower on a BDC scheduleJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
- New lender joined a facilityJun 30, 2026
Largest facilities held, with co-lenders
- F•••• B••••• G••••• L•• first lien term loan6 BDCs hold it · matures Mar 30, 2027$1.9M 10c
- V••••••• S••••••• I•• first lien term loan2 BDCs hold it · matures Aug 18, 2028$1.2M 95c
- T•••••••• I•• first lien term loan5 BDCs hold it · matures Feb 13, 2033$1.1M 100c
- C••••••• G•••• L•• first lien term loan5 BDCs hold it · matures May 3, 2029$1.1M 61c
- U••• A••••••••• P•••••••• I•• first lien term loan3 BDCs hold it · matures Oct 1, 2029 · possible sponsor H• C•••••• M••••••••• L••$1.1M 100c
- H••••• R•••• T••••••• L•• first lien term loan3 BDCs hold it · matures Mar 31, 2030$1.0M 100c
- C•••••• S••••••••• L• first lien term loan2 BDCs hold it · matures Jun 10, 2033 · possible sponsor P••••••• O••••••••• L•$1.0M 100c
- G•• D•••••• I•• first lien term loan1 BDC hold it · matures Apr 16, 2032$990,000 99c
- T••••• F•••••• L•• first lien term loan2 BDCs hold it · matures Sep 30, 2031$985,000 85c
- C•••••• C••••••••• O••••••••• L•• first lien term loan1 BDC hold it · matures Dec 7, 2030$975,000 99c
- S•••••••• H•••••••• I•• first lien term loan4 BDCs hold it · matures May 13, 2027$963,000 88c
- E•• M••••••••• C••• L•• first lien term loan1 BDC hold it · matures May 17, 2029$959,000 101c
Schedule of investments at Dec 31, 2025
331 positions
| Borrower | Instrument | Principal | Fair value | Rate | Maturity |
|---|---|---|---|---|---|
| B•• R••••••••• P••••• L••••• E•••••: Oil & Gas | term loan first lien | $178,000 | $179,000 101c | S+250 bp | Oct 31, 2028 |
| W• I••••••••• I•• S••••••s: C••••••• | term loan first lien | $200,000 | $177,000 86c | S+680 bp | Jun 24, 2030 |
| W• I••••••••• I•• S••••••s: C••••••• | equity equity | $200,000 | $177,000 86c | S+680 bp | Jun 24, 2030 |
| S•••••• A••••••• L•••••• D••••••••• A••••••• C•••••• A•••••••• & D•••••• | term loan first lien | $175,000 | $176,000 101c | S+175 bp | Nov 5, 2028 |
| T•• W•••••••• H•••••••• L•• H••••, G••••• & L•••••• | term loan first lien | $154,000 | $155,000 101c | S+200 bp | Nov 21, 2031 |
| F•••• S•••••• B•••• I••• T•••••••••: C••••••• | term loan first lien | $155,000 | $155,000 101c | S+250 bp | Aug 15, 2030 |
| A••••• D••••••• H•••••• I••• S••••••s: B••••••• | term loan first lien | $149,000 | $150,000 101c | S+275 bp | Jul 30, 2031 |
| K•••••• I••• C••••••••, P•••••••, & R••••• | term loan first lien | $144,000 | $144,000 100c | S+250 bp | Apr 10, 2030 |
| S•••• G••• I••• H••••, G••••• & L•••••• | term loan first lien | $156,000 | $140,000 90c | S+610 bp | Nov 15, 2029 |
| S•••• G••• I••• H••••, G••••• & L•••••• | term loan first lien | $156,000 | $140,000 90c | S+610 bp | Nov 15, 2029 |
| P•••••• A••••• H••••• 1• L•••••• Capital E•••••••• | term loan first lien | $131,000 | $132,000 101c | S+275 bp | Sep 30, 2032 |
| B••••••••• M••••••• T••••• I•• B••••••, Finance, I•••••••• & Real Estate | term loan first lien | $127,000 | $127,000 101c | S+250 bp | Dec 19, 2032 |
| B••••••••• M••••••• T••••• I••• B••••••, Finance, I•••••••• & Real Estate | term loan first lien | $127,000 | $127,000 101c | S+250 bp | Dec 19, 2032 |
| S•••••• H••••• H•••••••• L•• H••••••••• & P••••••••• | term loan first lien | $1.6M | $121,000 7c | S+200 bp | Aug 18, 2028 |
| I•••• G•••• H•••••• G••• Capital E•••••••• | term loan first lien | $103,000 | $103,000 100c | S+225 bp | Nov 2, 2028 |
| B•••• G•••• H••••••• L•• T•••••••••: C••••••• | term loan first lien | $102,000 | $103,000 101c | S+275 bp | Jul 1, 2031 |
| N••••••••• I••••••••• •••••• o• S••••••••• E••••• • I••••••• Capital E•••••••• | unstated lien unstated | Not disclosed | $103,000 100c | ||
| m••• i• A•••••• | unstated lien unstated | Not disclosed | $103,000 100c | ||
| A••••• U• L•• A••••••••• | term loan first lien | $93,000 | $94,000 101c | S+225 bp | Jan 31, 2031 |
| T••• I••••••••• I••• A••••••••• | term loan first lien | $83,000 | $83,000 100c | S+225 bp | Nov 15, 2030 |
| I•••• Q•••••• H••••••• U• L•••••• C••••••••, P•••••••, & R••••• | term loan first lien | $116,000 | $80,000 70c | S+385 bp | Mar 14, 2030 |
| M••••••••• E••••••••• I••• M••••: A•••••••••, P••••••• & P••••••••• | term loan first lien | $75,000 | $76,000 101c | S+275 bp | Aug 6, 2031 |
| P••• I••••••••• H••••••• I••• T••••••••• | equity equity | $13,000 | $64,000 22c | ||
| N••••••••• I••••••••• •••••• o• S••••••••• E••••• • I••••••• C•••••••••, P•••••••• & G•••• | unstated lien unstated | Not disclosed | $12,000 92c | ||
| M•• B•••• S•• r••• C•••••••••, P•••••••• & G•••• | term loan first lien | $13,000 | $12,000 92c | S+446 bp | Jul 7, 2028 |
| M•• B•••• S•• r••• C•••••••••, P•••••••• & G•••• | term loan first lien | $13,000 | $12,000 92c | S+446 bp | Jul 7, 2028 |
| R••••••• I••••••••• M••••••• E••••• B••••••, Finance, I•••••••• & Real Estate | equity equity | $3,000 | $8,000 | ||
| F•••• B••••• G••••• L•• A••••••••• | term loan first lien | $417,000 | $7,000 2c | S+700 bp | Jun 29, 2026 |
| F•••• B••••• G••••• L•• A••••••••• | term loan first lien | $363,000 | $2,000 1c | S+11 bp | Mar 30, 2027 |
| V•• B••••• I••• S••••••s: B••••••• | delayed draw term loan first lien | $24,000 | Not disclosed | S+350 bp | Oct 12, 2032 |
| V•• B••••• I••• S••••••s: B••••••• | delayed draw term loan first lien | $24,000 | Not disclosed | S+350 bp | Oct 12, 2032 |
Page 4 of 4Previous
Registration
- Fiscal year end
- 1231reported
- Incorporated
- MDreported
- On the SEC BDC report
- 2024 to 2026reported
- Filings listed
- 19reported10-Q and 10-K since 2022
- Former names
- MSC Capital LLCreported
- Latest schedule
- 0001213900-26-089899reported