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A••••• D••• S•••••••• B••

Business development companymanaged by A••••• C••••• M••••••••• L••Non-traded· NEW YORK, NY

A non-traded business development company, managed by A••••• C••••• M••••••••• L••, holding $25B across 427 borrowers at Jun 30, 2026.

Composed from this BDC's filings and its latest schedule of investments.

Fair value
$25B
Schedule of investments, 10-Q and 10-K
Borrowers
427
Schedule of investments, 10-Q and 10-K
Mark on cost
99.0¢
Schedule of investments, 10-Q and 10-K
First lien
100%
Schedule of investments, 10-Q and 10-K
Schedule of investments (835)Quarter by quarterSponsors
As of · the latest schedule of investments read for this BDC

What matters now

  1. $160M
    on non-accrual, 9 borrowers

    9 borrowers on non-accrual, $160M principal; the largest is E•••• S•••• G•••• B•• ($63.4M).

    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 E•••• S•••• G•••• B•• →
  2. 27 below 80¢
    $378M principal

    27 positions across 23 borrowers marked below 80¢ on cost, $378M 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. $20B → $25B
    fair value, 4 quarters

    Its portfolio grew 27% at fair value over the last four quarters.

    Q2 2026 · A fast-growing book is deploying new capital.

    Factthe schedule's fair value, a year apartQuarter by quarter →
Every headline figure, and the identifiersCIK 1837532 · file 814-01424Show
Fair value
$25B
as of Jun 30, 2026
Principal held
$26B
debt pieces, the filer's figure
Cost
$26B
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
Positions
835
427 borrowers
First lien
100%
100% debt by fair value
Quarters on the tape
15
since Dec 31, 2022
Facilities held
753
33 sponsors financed
Portfolio through time
Fair value by quarter end$25B as of Jun 30, 2026
Dec 31, 2022$22B then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$25B42799c30460 bp
Mar 31, 2026$25B42799c35457 bp
Dec 31, 2025$26B444100c28452 bp
Sep 30, 2025$22B438101c36460 bp
All 15 quarters
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2025$20B395101c33477 bp
Mar 31, 2025$82B520100c23487 bp
Dec 31, 2024$73B497100c25501 bp
Sep 30, 2024$57B426101c20510 bp
Jun 30, 2024$52B379100c13532 bp
Mar 31, 2024$29B298101c10547 bp
Dec 31, 2023$30B251101c8574 bp
Sep 30, 2023$24B237100c8554 bp
Jun 30, 2023$21B223100c5554 bp
Mar 31, 2023$19B190n/a5536 bp
Dec 31, 2022$22B17297c9525 bp
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 Mar 31, 2023
321 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
G•••••• U• H•••••••• I•••unstated lien unstatedNot disclosedNot disclosedSep 22, 2026
U••••••• B•••• G•••• M•••• L••unstated lien unstatedNot disclosedNot disclosedAug 13, 2027
J••• A• H•••••• L••unstated lien unstatedNot disclosedNot disclosed
C•••••• A•••••• G••••• I•••
C••••••••• S••••••s & S•••••••
term loan first lien$956,000Not disclosedS+600 bpDec 3, 2027
H••• M•••• S•••• S••••• S•••••••• L••unstated lien unstatedNot disclosedNot disclosed
A•••• G••••• I•••unstated lien unstatedNot disclosedNot disclosed
2• B•••• L••••••unstated lien unstatedNot disclosedNot disclosed
P••••• P••••••••• I••••••••• P•• E••••• L•
H••••• C••• P•••••••• & S••••••s
preferred equity equityNot disclosedNot disclosed
R••••••••• O•• L••unstated lien unstatedNot disclosedNot disclosed
A••••••• I•••unstated lien unstatedNot disclosedNot disclosed
C••• H•••••••• L••unstated lien unstatedNot disclosedNot disclosedDec 17, 2028
P••• G•••• L••unstated lien unstatedNot disclosedNot disclosedApr 3, 2028
M•••• O•••••• B•••• L••••••unstated lien unstatedNot disclosedNot disclosed
C•••••• A•••••• G••••• I•••
C••••••••• S••••••s & S•••••••
revolver first lien$1.0MNot disclosedS+600 bpDec 3, 2025
P••• I••••••• H•••••• C••••unstated lien unstatedNot disclosedNot disclosed
E•• T•••• H•••••••• L••unstated lien unstatedNot disclosedNot disclosed
P•• A••••••••• L••unstated lien unstatedNot disclosedNot disclosed
T••••• M•••••• C•••••••• I•••unstated lien unstatedNot disclosedNot disclosedApr 1, 2027
A•••••• H•••••••• I•••unstated lien unstatedNot disclosedNot disclosed
Z••••••• I•••unstated lien unstatedNot disclosedNot disclosed
Y••••• C••••• A•unstated lien unstatedNot disclosedNot disclosed
Page 4 of 4Previous
Registration
Fiscal year end
1231reported
Incorporated
unknownreported
On the SEC BDC report
2022 to 2026reported
Filings listed
19reported10-Q and 10-K since 2022
Latest schedule
0001193125-26-341358reported